 The following is a presentation of TFNN. The Tiger Technician Hour with your host, Basil Chapman. Call now, toll free at 1-877-927-6648. Good morning, everyone. Basil Chapman here. This is the Tiger Technicians Hour, and we're looking at the dial down 31 at 33,000 890. So it's a technical Friday. Let me just go through some of these patterns here very quickly, and then I've got a bunch of questions that I want to answer. So I have to move that away, and now I've got it. So I'm always looking at three core patterns. I mean, there's so many other patterns, rectangle, long rectangle, wide rectangle, straight lines, et cetera. But I really look at core straight line up or down, cup formation, arch formation. Just those three patterns. And you can have a mix of one and two and one and three as one and three where it makes an arch pattern, fails at a peak A or a B, first or second peak after the low. And if it takes out the left side low, it can get quite ugly on a closing basis. Within that context, what do we have? We have the cup formation right here in the dial. In the Chamois methodology, we're always looking from the most identifiable low to count each successively peak at a peak D. The objective is to see the prices and the technicals improved enough to go from a buy signal to a buy mode. And the buy mode immediately implies that there should be at least four higher peaks. Peak A is the first. Higher peak is peak B. Higher peak is peak C. Higher peak then is D. The fourth highest peak, that's where other things can happen. Now, within that context, look what we've got. We've got the low of 32,586 in the dial. On the 25th of May goes peak A, B, C, D. We've got core positions in the dial and the three times long dial from October. And we've had trading positions long and short in the interim period. At that peak D, we started taking off some and then we pulled back. We had a nice rally and then we've got out. And on that pullback, we were out for a profit, our final profit in this particular trading position of the UDOW. But we went short another instrument and the reason for going short, not the S&P or the DAO was because this particular instrument looked as if there was a really good chance that there could be a pullback and it was started with the daily, but if the daily started to increase in the downside and it took out the left side low of this dreaded H pattern, look, you've got a cup formation in the DAO vying with the arch formation. Days young, we're down 44. I don't see all that much other than a bounce which we've already had going much higher. Yeah, we could stabilize, but I'm thinking we saw, you can see the deterioration and the nine-period moving average is still very positive, but now they both, the nine and the 14 have trajectories to the downside. And that says now you've got to monitor closely because if it slips, the green goes under the black. That means the nine is weakening under the 14-period moving average. If it turns pink, that's going to be very, very poor and you'll go down quite a bit more. So within that context, I'll just do this for the moment. Daily chart, potential dreaded H. S&P, daily chart has made a new recovery high at where? At a peak D. And I'm putting a plus sign and I haven't got any indication yet on whether the cell hasn't even gotten into a cell signal. If it closes under 43.88, I get the signal and might most probably upgrade it immediately to a cell mode. That's the daily chart. All the weekly charts are very strong, monthly charts have improved. I don't want to get into that. It's technical fright. I want to get into the technicals of the near chart. Look at the QQQ. 372.85 was the high background on the 16th of June. I called it a G-Stagency Alternate Count because there's a chance we could have had a little pop to the upside just at one penny above 372.85 goes to a leg D. And most importantly, we started to store here 48 cents of 367.94. Weekly charts, fabulous. Monthly charts improved a lot. But this daily chart, the MACD didn't even deflect high. It just has continued to be very negative. The stochastic did go to almost 80% to the 77%, but it's underneath the previous, when it made the 372.85 high of the 16th, the MACD. Everything was good. The on-balance volume turned around exactly on that day. I love when the on-balance volume gives you that exact ictus for the turnaround to the upside or the downside. But if the price holds very well, which is done, I've got to consider that so far, the Qs are holding very well. It's in a buy mode. It remains that way. It hasn't changed its configuration. IWM had very poor action. Today's fabulous trying to fill the gap. And it does that every once in a while. It kind of plays catch-up or it even eats for a moment and everything looks great. And then suddenly it just gives everything back. So I'm watching the small caps that I share with you on the Qs. So it's a little bit of a bustle, 2,000 ETF, very closely. Because if we get a rotation, we might start to see other areas weaken, and that will include, and I'm going to go through it right now, the estimators. So the estimators, you remember what was about a Euro guy said, from everything I'm reading with all the fabs being built all around the world and just the whole infrastructure of the semiconductor industry, they project out. They're actually very much like economists. If the lines are going up, they don't change anything. They just say, we're projecting up. If they're going down, we're projecting down. I suspect that the chip industry is in for some accessibility. And that's what I've been talking about for some time. I have no idea. And I'm not even able to find the resources to give me that information data-wise, documented accurately. I get different things, and I get word of mouth, and I've got some people on the business. I just can't get a good read on it. But the chart itself of the estimator says, this is a high-level consolidation from the 155.94 high of the 16th of June. And then the 154.07 tests four days ago with two doji candles. And now we're pulling back. If at any point in the next few days, going into next week, we close under 146.83. That was the low of the 26th of June. Then I suspect we're going to test the low that was made back on the 6th of June, which was 142.98. No big numbers here. The weekly chart is still having high-level consolidation. A lot of candles all within a small range. Monthly chart, unbelievable. 159.42 was the high November of 2021. Plunges down to 83. I would call that about a 50% decline. And then what happens? It comes all the way back to the 155, 156 area. A couple of points away from an all-time high. All of this gives me a really good positive reading for 2023 overall for the market. But just on the short term, I'm watching this very closely. And as I said, we actually have short position, which we took some profits yesterday. Really nice gains on a very short term, two-day, three-day basis. And so far we're going to hold it, and I'll hold it with a stop just above our entry point for the core position. I think that this is telling us, it's going to tell us a big story. So far the story says, Ho-Ham, we're just in a sideways range, up $1.36 and 150.27. If today instead had been really ugly and we were straightening the 146, 145 area, I say, uh-oh, that's a real problem. So, with that said, we've covered a bunch of key XLK just as we go to the break. This is the SMP. I'll select Tiger Spider Fund, and holding very nicely. It looks a little bit like the piece that it is making into the sideways path. I'll be back. That was down 32. SMP is up three. We'll be right back for more questions. You might think that if you want to be successful at trading in the stock market, you're going to need a crystal ball. After all, it's impossible to predict the future, right? Like any endeavor in life, before you decide it's impossible, get some advice from the experts. You might find that it's not so impossible after all. For daily market overviews that give you direction on the key indices, selective stocks, and commodities, subscribe to the opening call newsletter at tfnn.com. The opening call newsletter is written by Basil Chapman, creator of the trading methodology known as the Chapman Wave. Up-down sequence gives you an edge in identifying price turns. Finding the peaks and valleys in stock prices. Get the opening call newsletter by Basil Chapman in your inbox every day. 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. 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Tommy O'Brien delivers options and equity trades when the markets present them, using a combination of fundamentals and technicals. Sign up for Rocket Equities & 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. 666-48, internationally at 727-873-7618. I don't want to take too much time here, even though it's technical Friday. A couple of really good questions, so I want you to do this quickly. Here we go. The gold contract very strong today, up 20. Testing that 14-period exponential moving average resistance. It's not being able to close above it. It just barely closed above it once, but in the last. Let's go back to right there. So since the 16th, every single day, since the 10th of May, the gold contract has not been able to close above the 14-period exponential moving average. Hit it many, many times and it gets repelled. It did that for the last week. It's done that three times already. Now we're going to see it's right up against it at 1934 and the actual gold. Let me show you what that is. That's 1936, is the 200-period exponential moving average. And what's important about this is the MACD has started to move across positive. The stochastic started to rise. So there's a nice move to the upside. On-balance volume has made a little V-shaped turnaround, but you need to see price follow-through. And this week, you've got an S, meaning sell, in the 914 cross over to the downside of the weekly chart. It's going to take a lot to get that back into the positive territory. So I suspect once again you just got a nice counter trend move here in the gold. I don't see it yet as the start of a really big move to the upside. I think that's going to come a little later. Could be a balance, but the big move, I think, is going to come in a little while. So with that said, let me just do a couple of things I did there. Solva, you see, is starting to look much better than gold a couple of days ago and now it's lagging a little bit, even though it's up 36 cents in 2025. This weekly chart also doesn't look all that great, looking at high-grade copper, high-grade copper. Yeah, a nice candle today. The same sort of thing, dreaded H-pattern, in the weekly chart is constantly. So it's at 377.04. Crude oil, nice move up in crude oil. This is peak A, this is leg B, and it's over the previous one, so it's a combined leg B. And that says, yeah, we might see a little bit of a move. And here again, I'll use the reference for the weekly 200-period, sorry, weekly 14-period exponential moving average. And copper, since back in April, on the weekly basis, hasn't been able to close above the 14, let alone the pink nine-period moving average. Today, it's over this week, it's over the nine, and it's touching the 14, but it's still not a very good-looking chart. All I can say is that I think that crude oil is stuck in a range, and that's important. Let's just go to... I don't want to do that just yet. Let's go to the U.S. bonds. U.S. bonds broke down. They are going to test very close to testing in the rectangle formation, the low of the week of the 3rd of March, and the low is 123 on the continuous contract, and the low today is 123 and 830 seconds. And if we go to the TLT, which gives you an even better picture, the low was 28, so 98.88. Let me just type that in here. 98.88. And that was also back in March. And what are we looking at today? We're looking at a low of 98.99. How close can you get, right? This is months. And it's the test, and if it breaks out, then the TBT is going to go to leg... Oh, look at this. Peak A, peak B. There's the weekly chart. Peak B, peak C, and there's your D, and it's still within the rectangle underneath the previous high. So all I can say is that at a daily basis that'll be an A, that'll be a B, and that's only a C in the daily, and it's gone above the previous high. So, yeah, yields are going high. I think that is an issue, and I had a comment here from Paul saying, it's all about yields. I say it at times. It's just like the VIX index. It's all about when it's all about. Otherwise, let me just show you this right here. This is Chapman Wave dark news cloud cover using the daily chart. I've said this since 11, since 11, 11, 22, that there's going to be a huge, massive dark cloud that is really the news, economic news, any kind of news, and every time the market starts to get a little nervous, whatever is important in the news, the market is going to take it really seriously. And every other day, the same news, the market ignores it. Right now it's in the phase that it's starting to take it seriously. You can see the cap that you've got, the umbrella on the upside, and that canopy is going to be, until we start to turn it down to 35,000s on a weekly basis, that's going to be the canopy to overcome high. But that said, yields are very important at this particular point. But look at this, the HGX, I'm moving away from what I wanted to talk about. The HGX, if I can type it in the right place, there it goes. HGX is the Philadelphia housing. Come on! There. I was out yesterday, came back, and what do I find after the most, the hottest game of tennis I've ever played? I mean, it was brutally humid and hot yesterday. That somehow or other, there was a, I think a chuck went into a pole or something like that. So I lost power, and of course I had to read you all my notations again. Anyway, look at this. The HGX has just gapped down, and we're going to be watching this very closely, because for the Philadelphia housing sector, made a new all-time high. 538, 36 was the high in May, and just the other day it went to 550, which is 44. So that can take a breather, and that's what I'm saying. This is a rotational breather. I had a question. I'll go to the questions now. ENV-X. Basil, you were long. Where do you think you'd add? So ENV-X is, and Novix, Core, Silicon, Anode, Lithium, Iron, Battery Development, Product Data Solutions had a really sharp move to the downside. We didn't get the add-on position. We were already long from the 16s. There it is at 19s. This is a tough one. I should have just grabbed that. I should have sent an intraday thing saying, let's start our next entry point here and see what happens with the Tafferi tide stop, because once something's in play, and this is in play, remember we said the same thing about SYM, which we still have, it's in play. And then I said, on the 15th of June, in 5383, took our last little bit off of the trading position and we're keeping a core, and we'll see what happens. Well, it's starting to stall. And this is the whole thing about the symbolic ink. This is AI, robotic warehousing. When they're in play, they're in play. When they're out of play, you just kind of have to step aside for a while, keep your core position, and be very careful. So, the ENV-X is in play, SYM, just at the moment, is out of play. It will become back in play at some point. Okay, so I've got that now. Go, go, go. T-O-T, T-O-T, T-O-T, T-O-T, there we go, security platform, cloud applications, very nice up to 222, at 99.30 today. I'll be back with them on, which is a lot to discuss here. Good questions that have come in. I'll get to them all. Technical fighting. I'll be right back down. Steve Rhodes started his trading career as a student almost 20 years ago, and the student has now become the master. 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For more information, just click the Think or Swim banner on the front page of TFNN.com. Hi folks, we're looking at D-O-G Data Dog trading up $1.95 and $9.10 at a spectacular move today. And it does that very often as a huge move up to $1.50. But the $97.47 are low. I mean, four points? Just like that. Boom. Anyway, it's given back a chunk. But it is saying that it's kind of in play but within a rectangle formation. And I've got my chapter. If there's your cup formation, I draw this in right now. The left side, right side, price time match says by the 12th of July should attempt to get very close to the high of 103. Oh, round number high. 103.80. 103. later. Yes, 103.80. Let me just type that in. 103. 0.80. There it is. And that was back at beginning of June. Plunges down to the 90 area and it comes right back again. So you see the little cup formation. Now what I drawn in a long time ago for Data Dog is a couple of things. The big arch formation that said right side price time match almost to the month. And I chose this particular candle right here, the very strong candle of back in this is 2020. This is May. It opens at 44 round number high. Goes to 75 round number high. Has a low of 43.13. And that kicks off a whopper of a move and it goes all the way to the high, just about 200. Pulls back very sharp. It comes back and what does it do? It tests. This is what I chosen to make the midpoint here from this particular Grand Canyon wall on the left side. And it went right to the four times within five months. We went down to 61, 34, 62, 62, 63. And then it took off. So I like the action very much. I like the fact that it's making this beautiful symmetry. This is the week that I should have had a test of 104. Right there. I said it was 104.95. This particular candle from September of last year, 2022. Yeah. And so it's making a little cup formation. It's acting quite well. All I can say is that if it closes under 94 in the next couple of days, it's going to take a lot longer to get back into the 104 area. But, or to get to the 104 area. But if it's able to have a rally next week, today's Friday, next week by Tuesday, Wednesday, it can even have two hours of training at 99.60 or higher, then it's going to try for the higher of today. So that's what I'm saying there. I like it. Next question was came in, DKNG is the one that's on our list, a buy list, but we haven't been able to get it because I want to lower it down. This is just a few questions. I've got this one. A big A, the one is, it's a high end sports betting. A big A, A, B, C. Yeah. This is acting really well. I looked yesterday like it was really going to start to pull back in the each pattern rather than this cup formation. And in fact, it hasn't, it's got a really nice session up. A dollar today, 26, 23. I would like it for the longer term well to start trading below 23. 14-period exponential moving average of the weekly chart. Then I'm looking at it because it's going to take so long for that green 9-period moving average. Look how fantastic it's walked the 9 EMA to it would be under 20.50 before that green even gets close to the black. So I like this very much. But I just haven't maybe I should just we should start positions in steps but if your question is where do I get in or if you're in just I would be looking to add and I'd say add in your case if you're already in lower down you could add a little bit higher maybe 24 under just in between 24.50 to 24 but if you're not in I really think it's worth holding just a little bit longer we'll see what happens very soon as I said I think I've been talking about this is a consolidation phase early July I'm sticking with that and we'll see what happens there so that's that answer those questions. Now this is a fantastic question for me because I've never done this with a with a was a btai yeah btai with therapeutics with a biotech stock bioxcel oh another x in the middle of doing make it very difficult to actually pronounce just like that envx is an x that read lopsides the whole thing right so it's trading at 10.89 up a penny so the question came in and I never even thought about it with this particular stock but the question came in from a to b hi basal btai closed two days over the gap can you please remind your rules on these situations so that indicate 28 sessions above the gap or am I just making something up you know sometimes we make up these rules but there I have so many a plethora of rules for different situations that I completely forgot to use this particular one even though we spoke about it with a huge gap down but it's absolutely applicable why because on the 29th of june on the 28th of june jula jula jula jula song straight in between 16 and 17 the next day the high the high is 9.46 and the lows 5.88 but wait a minute um I spoke about this in terms of big red candles charts that make at least two big red candles have a possibility of making a third one it's the the character of the stock the bookkeeping the the the field they're in whatever it is they've now developed the character that says watch out I can surprise on the downside like you've never seen before well it did that and I was discussing that but there's the other rule and the rule says that if there's a massive volume and everybody's just thrown in the towel is that not the rule that I say it can go 28 bars that's what I call the volume price climax reversal well it that applies there should be no reason why it doesn't apply except for one thing you remember I like to see the gap down another gap down and I see that that was my with k or e that's the thing that was missing and that big moved down over over here the Chapman wave price volume climax on the 4th of May 34.52 but wait a minute this one did exactly what we were looking at 28 bars and if it holds well above the gap well gap high it can go 56 this is done that perfectly k or e although I don't like the chart in terms of buying it at this particular point Schwab did the same thing except it did not go above the arch high but look where it is from the 54 low he said 56 it's doing quite nicely so I'm going to say I have to stick with my rule and the rule says yes you had volume this thing tracks volume wise oh six hundred and eight thousand seven thirty two six fifty eight one point one minute just it's in the one point two to this five hundred thousand area suddenly it has volume of 26 million five hundred and sixteen bta i bio excel therapeutics I think that I I've never done this with the buy take especially with a stock so low but all the rules are there except for that one that that green candle on the 28th of June if that was a big red candle I would have said absolutely it's applicable but that massive volume so I'm going to say we've already had one two three four five I'm going to say there's a really good chance that the low of five point 88 should hold but I question that if we close below the low of I'm going to make it the law of six point thirty eight go under that and I'm going to say maybe it doesn't work but absolutely that's the rule it should work for twenty tigers and tigers get ready for our annual fourth of July tiger dollar sale from now until July 7th you can receive a 20 30 or even a 40 bonus when you purchase tiger dollars tiger dollars are automatically applied to your account and can be used for all subscriptions and purchases don't wait this sale ends July 7th visit tfnn.com today to purchase tiger dollars and receive a 20 30 or even a 40 bonus as an added bonus every order comes with a special tfnn mug happy fourth tigers tfnn educating investors the gold report as a precious metal gold is still king it continues to hold the most effective safe haven and hedging properties across the global major trading hubs of the london otc market the u.s. futures market and the shanghai gold exchange the gold report tom o'brien publishes his weekly gold report every monday morning for subscribers consisting of coverage of the xAU hui gdx the dollar bonds the south african rand as well as 25 different mining equities with specific buy sell recommendations the gold report new subscribers get a 30 day money back guarantee so you have nothing to risk subscribe to tom o'brien's gold report newsletter now at tfnn.com are you 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 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 market's open to give you the competitive 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prospectus should be read carefully before 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 this program is brought to you by vista gold traded on the nyse american and tsx under the symbol vgz week i think it's so ago we were looking someone had mentioned a rig trans ocean limited and i said there was another one that was comparing and i said that rick was the battle part the rig is almost at its left side high of the week of the 10th of march of 774 today's high seven 65 actually is taken down i'm calling this a leg c i should call it an alternate count just for the moment i'll call it leg c excuse me and the weekly chart has to go above uh 774 uh yeah was that what i was i incorrect there uh 774 okay yes today's high is seven 65 we're just under it so i'm calling it leg c for the moment magdae is just in the weekly chart finally cross positive so casics improving at 57 on balance volume is good nine has been overlooked even for that dip that sharp dip from the seven 62ish area uh 775 down to the 540s that nine period moving average refused to cross negative and it's been green and look at that uh so i like this this is still one of the better ones rig i someone had mentioned s lb recently oops strong chart s lb as slumberge also in the oil service area s lb very strong move today up 1.96 at 51.08 but i said i prefer rig as a a chart formation so um yeah so those are the questions i had there oh quick one is f x i f x i is acting today's not bad but it's really stuck in this area if you look at the weekly chart the nine period moving averages refused to cross positive it's just kind of stuck here but wait a minute mk which is the japanese uh the nikai 225 usd continuous contract um had a really good move to a pg at about 34 recently showing a 3241 there's the dreaded h there's the first h right then it fails let me draw it in so you can see technical friday mays will be as thorough as possible there it is dreaded h and he has another bigger one goes to peak b that one went to peak a this went to peak b and is it closing below it hasn't yet closed below the left side low but this is just saying lower now it's the reverse from higher highs and higher lows to lower highs and lower lows so i'm just saying digest if this kind of corresponds to what i'm looking at here in terms of the digestive phase what was the other question i had oh here it is let me write i wrote it down here we go a w was mentioned now i'm not sure if that was wheat that were people talking about uh the wheat contract or w wafer so wafer finishes hits 369 round number high january of 2021 there's a little bit of a pullback to 28.11 back in october of the 2022 uh and then has a double bottom and then rally's really strong it goes to peak e in the 68 area and now what we're looking at is at 59 big two big red candles and today's a green candle inside bar uh inside yeah inside bar but it looks to me like it's starting to pull back if it closes in the in july at any point in july if it closes under 51 38 this is a 200 period moving area not good enough if it closes under the double bottom lows of the 12th of june and the 13th of 49 73 49 62 if it closes under 49 it's at 59 that's 10 points anytime in july that's going to suggest that this part of the retail area is still highly vulnerable and we'll look at the rth quickly rth is oh i haven't updated it i haven't looked at it for a little bit a b c d e in really see this is the whole thing about this diverging market areas you have to look at the total thing for instance xlc i'll just while i'm typing this in the xlc is the communications area and if you look at a t and t in verbal horizon and conchance they were getting hammered and yet the overall because of the makeup of the of that particular etf it's been doing fantastically so you've got to be looking at either specific stocks or the etf the conglomerate that they use because sometimes it's just so much safer to be in the etf we've done that a couple of times and i'm quite a box we still long box it's been fabulous that's the ai the etf so here we are we have rth peak f pulls back gaps down um leg e in the weekly weekly still looking fabulous this is 20 is amazon but wait a minute the xrt which is the s and p has a different chart pattern it's gone peak app peak c and d and an e right there but it's still holding very nicely wow what an interesting market this is it depends on the area you're in some areas have just been hammered lambasted just absolutely taken apart and other areas have just been saying ho hum what bear market this is fantastic so yeah you've got a this is a b e slash c and we're going to change that i'm saying alternative counts and it's right at the 200 period moving average about to hit resistance interesting two different chart patterns why because s and p retail etf has an equal weighting so amazon doesn't distort so that's very interesting just quick look at amazon amazon there it is that's the same sort of thing pulling back a little bit gap down trying to fill some of the gap um still holding very nicely um oil so i did that did that i think there was another question um bti that down day was 100 flow turnover then the update was 120 turn over again wow i mean this is amazing um okay so uh let me just see it's okay some questions have come in no a b i if you had a little distortion thank you al for fixing that up for the tiger youtube um good okay a couple of things i want to do before we wrap up for the weekend because this is the work that i'm going to do when i do my weekend hour long video for subscribers the overview video all the things that we're going to be discussing let me show you something here in video i want to do stocks as well so i've written down a whole bunch of stocks that we need to look at look sideways action not breaking down up six today up almost seven and four twenty seven sixty seven look at the weekly chart this can go on a little bit the longer it goes on the greater the chances are that you don't break significantly to the upside the greater the chances are that you actually break to the downside if in video any day not even a week or a month any day this this month if there's a close below three ninety eight it's at four twenty seven that's the thirty points is like an eight or nine percent decline but if there is a close below that i would say to you just got to be real careful of both the semiconductor area as well as the qqq's which is the ndx 100 as well as the general market because the semis usually lead up and they lead down so that's in video if you look at advanced micro devices um look at that big five materials uh a big gap down but it's it's still up in the range of the good range in the weekly chart so you go through each one individually and then order oh lrcx lrcx is tapped down but now today's up four six twenty four but i'm looking at this i'm saying i see a some kind of a slow roll over we'll see if i'm correct tigers and tigers is get ready for our annual fourth of july tiger dollar sale from now until july seventh you can receive a twenty thirty or even a forty percent bonus when you purchase tiger dollars tiger dollars are automatically applied to your account and can be used for all subscriptions and purchases don't wait this sale ends july seventh visit tfnn.com today to purchase tiger dollars and receive a twenty thirty or even a forty percent bonus as an added bonus every order comes with a special tfnn mug happy fourth tigers tfnn educating investors tfnn has just launched their new trading room the tiger zen hosted at discord tfnn has been educating traders for more than 20 years with live programming hosted by a variety of professional traders during market hours and now they are 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all the technicals and then you expect four higher peaks if it gets upgraded to a buy from a bicycle to a buy mode we just did that in the one-minute chart so we really stuck in a range the s&p's up 25 cents when you consider what's going on this is still pretty good action that's the reason why i'm saying on a very short-term basis looking at the daily not the weekly charts i'm considering that this is a period where we have some digestive action so far we have got some digestive action but this h pattern right here in the dowel says a close below 33,610 i'd prefer to make a little lower 33,580 which suggests that the consolidation goes on a little while longer so far the weekly charts are holding very well i'll give you the parameters for the s&p so far holding extremely well it's up 40 cents and 4411 but after everything that's happened the nine is still way over the 14 and that's the reason why we didn't want to short the s&p or the dowel anything like that just rather stick with what i think so far is the weakest and i so far it looks like it's the semiconductor that could change in a second especially with something as strong as nvidia now what we're looking at is if on the day if after 1.30 so after noon the dowel is down 60 or more points it just says we probably can average this close if it's a but if it's over 60 points up that says whatever's happening that's really good i think it's going to be tough about one for the rest of the day and have a wonderful weekend thank you for watching great programming yeah and don't forget the time