 The following is a presentation of TFNN. Trade what you see with Larry Pezzavento. Call now toll free at 1-877-927-6648 or internationally at 727-873-7618. Now Larry Pezzavento. Okay, looking good Billy Ray feeling good Lewis. Well, we've got some action going folks. I mean, I'm hoping that Tom's doing a great job as he always does doing his live program. But my goodness, you certainly got a lot of volatility going on for sure. I posted a chart of the NASDAQ. This is where the problem started. As you can see here that 382 retracement that we that we were looking at right in here. We stopped rallied up. We had those lower tops and that was it. That's basically it. I fact is this will be my last day for a while folks. I need a break badly and I'm taking it. We're going to see volatility like we've never seen before. Here's what I think is going on folks. I showed you the NASDAQ but the one that we were following the most closely of course was the E-mini S&P. And I tried to reinforce to everybody yesterday when I was on the show that this number that we were looking at here at 4050, the 382 retracement, you'll see that we finally made it. Remember now we made it here in the NASDAQ but then we came down and made a newer one. And I mentioned when we go below that folks. Oh dear, be very, very careful because that means that the whole operation has changed. And I'll give you my two cents worth and all it's related to is numbers folks. That's all it really is. Okay, now the first one we're going to look at here is we'll start out. I think we'll start out with Apple. And the reason why we'll start out with Apple is because it's pretty indicative of everything that's going on in the market. So here's where we are. We'll get this up here. And this looks just like the S&P folks. Just looks like the Dow Jones. You know, they all look alike. And this is Apple. And I think this is the real key here that we want to watch because there's the ABCD right at the exact 382. But the problem is folks, you see this little three week rally here. That was an exact 382. And that was one of the reasons why we were saying be very, very careful in here because these markets have a tendency to when they turn and their bearish look out. And this is certainly one of those times. So we'll be watching it with the fine tooth comb here very, very closely. Now you'll see here that we had the first 382 retracement was right here. And then we had the second 382 retracement. This was the 10 day high. And now we're down here at below 138 already. That's really a bad sign folks. We go below here folks. That's trouble in River City. And I might have to come back and get involved with this a little bit. But frankly, there's so much coming that I don't even want to worry about folks. Just to give an example today, we've had an $80 swing in gold. We've had a $7,000 swing in Treasury bonds. I mean, these are monster swings. There's people out there that are finally getting scared folks. And that's where you've got to really just look at gold here today folks. And believe me, this was, hold on one second. We'll get this up here to take a look at. By the way, our guest today is Shane Smollion, wolftrader.com. Look at that. There's your ABCD on the gold to the downside. You can see the beautiful garly that we had up here to sell it at 58. You know, it had 30 bucks in it. Look, it went all the way back and made the 61% retracement of the whole move from back at 1910. I mean, this is volatility in spades. And we have a caller from Cedar Rapids, Iowa. Again, it's Keith. Keith, how are you? I'm good, Larry. Thanks for taking the call. What can I do for you, my friend? Well, I'm wondering the target you have on Monday for the big event, if you will. Yeah. Do these cycles in New Zealand, Bert, have you seen that happen? Oh, yeah, they're going to be a high or low. And since we're coming down so sharply, this will most probably be some type of a low. We've got a big lunar cycle. Hey, we've got Shane Smollion on at the break. He'll answer all these questions for you. Okay. But, you know, whether they'll do it or not. You know, Keith, I live and die by my ratios and ABCDs. That's what I use. I know the astrology is great. I've looked at it. You know, I have to have smart people like Shane and Tim Bost and Norm Winsky and others that come on and show us what they're doing. But, you know, I look at what I have to do with the patterns as far as ABCD. That leads me to the promised land. And believe me, I don't fall for any of the factors. If you remember two years ago, they were telling us that interest rates were going to go to zero. Zero interest rates. You were going to have to pay them for holding the money. These folks are sitting there. They're not doing too good right now. You know? Yeah. That's why I can't listen to the news when they try to feed me that stuff. Because I'm not the sharpest knife in the drawer, but I wait till that knife hits the ground before I pick it up. I'll tell you that. Well, you're too modest. Well, it's just my modesty is my middle name. Not really. Can I ask you another one? Sure, please. My work is showing the cues getting down an AB equal CD down to 260. Yeah. Are you kind of on board with that, too? Oh, we take out the lows of May 20th easily. We can easily make that. That's not a hard number to make. Because, you know, this has been the weakest markets of all. It couldn't even make a 382 retracement on this last rally. We did it in the Dow. We did it in the S&P. But the NASDAQ was not able to do it. And that's telling you that it was still weak. And so that's it. The key this week is we've had these lower tops all week long after hitting the 382 retracement. You know, exactly in the S&P, exactly in the Dow. And it just kept rolling it over. And once we went below 4060, they turned out the lights. And, you know, we're trying 160 handles in two days. And that's the real key to what we're looking at, you know? Got it. Well, hopefully we can get some fear in this market. Well, it's the fears there. The next one I'm going to let you go now. But I'm going to post you what I was looking at today. Because, you know, one of the things that we teach here. Stay with me. Keith, you're right here. So we'll just do this together. And we'll get this up here to take a quick look at it. This is the E-mini S&P on a two-minute chart. And you're going to be able to see here right after the report. We had the big break. Now, the first thing we say after a big break is look for a 3-8-2 retracement. Bada bing, there was a first one. Bada bing, there was a third one. Drum roll. Can you give me a drum roll, Keith? I've got one more to show you. That's the one. I love it. Only in America can you do stuff like this. Okay. And not only to get, and not even get paid for it. That's the best part of it. Let's get up here to take a look at it. Now, here it is, the third time, folks. The third time that it's hit 3-8-2. That last number, folks, was 39-23. Now, as long as we don't get above 39-23, we're heading lower. But if we should happen to pop above 39-23, that's the possibility that we might be getting our first rally. And we'll have to see, you know, what the market's going to be doing. It's 39-08 now, so it's got quite a ways to go before 39-23. But that's given you the indications that we're in big trouble in some of these markets. When you see the bond market, which is the godmother of all safety, he's moving $7,000. I mean, it was down 1,000, up 2,000, down 3,000. Are you kidding me? I mean, this is a bond market. It's supposed to be safe. Hey, Keith, thanks for calling in, buddy. We'll talk to you soon, okay? Thank you, Larry. Appreciate it. 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You might think that if you want to be successful at trading in the stock market, you're going to need a crystal ball. 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. 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. 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Visit tfnn.com and try Mastering Probability 30 Days Risk-Free Today. tfnn Educating Investors internationally at 727-873-7618 Okay, folks, I posted the chart of the natural gas showing also the 382 retracement and not when it works pretty good. But I did want to show you, this is the cash S&P. The high we made this past week was exactly at the 382 level, and we have a caller on the line, Greg from New Hampshire. What can we do for you, my friend? Hello, Greg, are you there? I think I've lost a connection if I'm not mistaken. Oh, he must have hung up. Well, maybe he'll call back. But anyway, this 382 retracement, what's so important about this, folks, is that if we break that, oh, dear heaven, that is such a terrible negative thing. And, you know, we're not very far away. We're less than 100 handles away in the S&P. The old low was 3810. We got down to 3906. I don't know where we're going to close. We close really badly today, and we live in the 1,200 points in the Dow Jones. For God's sakes, don't be short over the weekend because there could be something really, really negative out there. I don't know what it would be. Now, there's also the possibility that Putin might send up a white flag. The odds of that happening are, as the Chance Brothers coming over this last horizon there, slim and none, but I don't think that's going to happen. But there's going to be great opportunities, even interday today. Look at this. I mean, just look at these 382 retracements that they're out. I mean, they've just been lining up just really nicely. The only one that didn't work, of course, was this last one in gold. You know, we had a really nice move down of well over $3,000 in the gold contract. And then it went back and made a 61% retracement over the whole range, folks. That's $100 moves in gold in one day. They don't do that very easily. I mean, give me a break. I mean, that's really wild volatility. So we've got to be able to, you know, worry about it. We've got Pedro from Park City. Peter, how are you? I'm doing great, Larry. You're definitely going to be missed over the next few weeks. Yeah, yeah. I wonder, like, my overall bigger picture on this is, you've often said that .382 moves in bear markets are typical within bear markets. And the 382s have been trading great. Yes. I see it. We've come down from 4808 to 3807, so 1,000 points. We've bounced the .382 basically to 4,200. And it looks to me like we're setting up, you know, maybe over the next month or two, at least, for 3,200 or even an extension of that when you do, you know, since you've only retraced .382, maybe a 1.272 or 1.618. And I just wondered what your thoughts were on that. I agree with you. 100% Peter, the reason why that is so important, we had Stan Harley on at the beginning of the week and he talked about Walt Bresser's work, which is high translation. In other words, the market peaks early in a cycle. So if you have a 382 that only happens in 10 days and it should have taken three weeks and then it breaks that, that's high translation to the left and that is extremely bearish. All it needs to do is to break below that low and that's going to be, that's when you're going to see the Dow moving. We will see a move in the Dow here sometime between now and the 4th of July of 2,000 points in one day. The reason why that's the number we've seen 1,100 several times, you multiply that times your one point, excuse me, 1,900 times just, let me get the numbers right. You multiply 1.618 times the largest move in the Dow so far, which is 1,200. That gets you to 2,000 points down in the Dow. So we'll see that sometime between now and the 4th of July. That's only, you know, two and a half weeks. So we'll see that, but we're going to great, great opportunities are coming no matter what happens. We're going to have tremendous rallies. Yeah, no, again, thank you for all you do. Get some rest, prop your feet up. Yeah, rest. See you soon. Yeah. I love you, Peter. Take it easy, buddy. I love Park City. I was there in 1980 when the, oh, I'll move on to the next one. We've got another question coming in here. Thanks, Peter, for calling in. I really appreciate it. Okay, folks, let's get the next one up here that I want to take a quick look at. So you can see I posted this one of the S&P cash, and that tells you if we go below those lows of March 20th, folks, that's really, let's try it again, Larry, May 20th. That's really what's super, super important here. But we were starting out the week. Let's move on to something that I can talk about with a little bit of excitement, and that here is the crude oil contract. We'll get this up here so you can look at it. This is one of the videos that we sent out last night saying there was going to be a really high probability, well, I'm talking about 60%, that this high that we made here, you see that high? That was an exact 78% retracement. 78 was 1, 23, 11. The high that we made last night was 1, 23, 18. We dropped $3,000, $3 a barrel so far down into that, and if you want to have some fun, why don't you put in the old 3-8-2s on the crude oil and see how they held up? Because that little puppy works, folks. It really does. Don't mind sharing it. You know why? Most people don't want to do the work, and I'm okay with that. That's the way it is. That's their right. That's their prerogative. So some people like chocolate cake. Some people like strawberry cake, and some people don't like cake at all. So you've got to decide which of that group you are and trade what you see and not what you think. And if you do that, you're going to be okay. These ABCDs don't work all the time, but they work a heck of a lot more than they fail, and that's the real beauty of it. Look at this week, folks. I mean, just stop and think where we were at the beginning of the week. Let's just get this up here. And this was a real easy... We talked... Well, never mind. Don't make any difference. Okay, here is the picture of this for the week. You'll see we have lower tops all the way through here. Okay? Look where we are now, folks. We're off the page to the downside. You know, once this low was broken, this is when we broke the 40-60, folks. When we broke that in the S&P, that said, you know, we're heading lower. And it did it late in the day yesterday, and it never uptick. You could have sold 40-60 and put a stop at 40-61. You never would have been failed. That's how important that number was. And we've got Greg on the line from New Hampshire. Greg, what can we do for you? Hi, good morning, Larry. I just wanted to say hi, long-time listener, long-term student, and just was looking at gold on a short term if you could take a look at that. Oh, my goodness. Why don't you give me something that's easy? I'll bring this chart up, folks, because this is not an easy chart to look at, but I have was watching that. And it's even higher than this. I'll get this up here so that we can take a look at it. I'll get to where we are here. Now, you'll know, Greg, if you're a listener, we sold the Gartley up here at 58. And that went from 58 all the way down to 26. That was a $3,200 move. And then, you know, I hope somebody put their stops in to make something. But look what it did. It's moved over $100 an ounce today, Greg, between down 20, up 20, down 20, and up 50. I mean, that's a huge up 40. I mean, that's a $100 move in gold in one day. We have taken out the highs that we made way back here at the 1150. We've been up to, I think, 63. Now, 1863 or 64. Boy, that's a toughie. Look at that strength of that bar. I mean, that's, whether that's a major bottom or not, I don't know. You know, I've always said that, you know, I liked long gold and long silver, but I thought we'd get down a lot lower in the gold, but with action like this. And I got to respect that, partner. Well, thank you very much, Larry. Hey, thank you. Thanks for being in support, too. I really appreciate it, Greg. We'll be right back with Shane Smolian, folks, wolftrader.com. TfNN has just launched their new trading room, the Tiger's Den, 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 expanding their reach with the Tiger's Den, available to all tigers and tigers for just $1 for the year. TfNN has just launched their new trading room, the Tiger's Den, hosted at Discord. TfNN has been educating traders for more than 20 years, including tigers and tigers for just $1 for the year. There's no catch or added costs when you join our community of traders. 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What do you show for today, buddy, with this lack of volatility in the market today? Crazy times, for sure. I just want to set out, Larry, by just thanking you for all that you do. I certainly appreciate what you do, and I think we can see by the callers calling it today that you really have a lot of support there. You've touched a lot of lives, and I think everybody should... I mean, I appreciate just what you do, and I think everybody is very lucky to have you on a daily basis. So enjoy your break, for sure. Am I going to have to send you $20, too? Larry, I haven't listened to you for years, but even before we met, and so I used to listen to you in the car when I was driving and walking. That explains your accidents, anyway. Go ahead, tell us what you're looking at, buddy. We're in the midst of a bear market here, it looks like. So what do you see? Absolutely. So we're going to do a little bit S&P, and then I'm going to go into some more gold, because people have asked. There was actually a question about the gold, and I'm going to address that high-translation topic that you brought up with Stan Harley, too, because that's important. Well, a couple of graphs here. First of all, RK Innovations. We have been tracking the ETFs. We've had this in a cell since February the 10th. So this is something that I like to watch, because I think this is the new technology that leads the NASDAQ. This has just really been ultra-barish, and I think we have more downside on this, for sure. And I had some projections down there below 20, but we're getting a little bit ahead of ourselves there. The biotech sector is still pretty beat up here. This has been in a cell in the Fed use since 225. So those are just two sectors I like to look at. And then the VIX, this is an interesting one. So the VIX is finally starting to get off the bottom here. It has been falling this whole time while the S&P has been falling, which is a very unique situation. So finally, we're getting a little bit of a hookup here in the VIX. Notice here that we are coming into some cycle. These are cycles down here. This is a four to six day. This is a double lunar cycle here. So it looks as if the VIX is going to be rising here for the next few days, at least on the short term. So that's interesting. At some point the VIX has to start rising for this S&P to make some type of a low here. So this is the first chart that I have here. This is an S&P entry day. And I've been calling these the poop slinging rallies. And these are the rallies that they try to get going and then they just collapse. And you can see here that the S&P has been doing very well coming up to these speed lines and dropping back to these speed lines here. So this has been very useful to kind of find these levels of support and resistance here. And this is based upon the Fibonacci retracements. They're just speed lines. They start here and they move through the levels here, the retracement levels. But you can see that we've just been having these horrific retracements that come much quicker. So the thing that people need to realize is the further we get into a bear market, the faster these retrace. And then it's more confirmation that we are in the bear market because in the early stages of the bear market, they get retraced but they're not as strong. But in this case, they retrace even faster. And that's the sign of the dominant trend, which is down. Also, quantitative tightening is beginning. Now officially, this doesn't show up until about the 15th on the treasuries. But I'm showing the signs that it's already happening. And my Fed internals, I've already started to show this. So when we hit on June 1st, this is already happening. For those who don't know what this means, this is the way that the Fed starts to reduce their balance sheet. And there's many ways they can do it. They can do it very slowly. They can do it more aggressively. They can sell out treasuries. They can sell out mortgage-backed securities. But the bottom line is this is devastating for the S&P. And I've been talking to my subscribers about this for a while, that this is the final stage here where you get down to the nerve. And so once these start to roll off, it's going to have a much more profound effect on the selling pressure that's coming. This is a chart here. These are the Fed internals I was talking about. I was already starting to track these declining even before June into here. So this is going to continue to come down as the tightening begins. And you can see here, the QT begins here. I know I have many different images here, but the QT is here. I think we're in a full-on crash now on this S&P. And so I can't really see anything changing on this. If anything, they're talking about a possible three-quarter point rate hike now. They brought that on the table all of a sudden. And to be honest with you, it would not surprise me because I've done the charts of the S&P next week. And the S&P next week, if you take a look at this, this is showing all of my signals in here. But on 615, the Planetary Speed Index makes a sell on the S&P here. And that's the Fed meeting. And so I've done the charts. And there's a lot of Uranus activity in there which is unexpected news. And there's a lot of Neptune. It's a confusing time. So whatever happens, people are going to be confused. And there's a possibility of two surprises coming out of that meeting. And I would not be surprised that they went higher. And then they had more hawkish guidance going forward. So it's a tough time right now. And I always tell people, I like to look at the astrology and the cycles. It's great. But the ultimate predictor of this market is going to be what the Fed is doing. The market rises and falls on the Fed and their policy. And right now it's just a very tight, tight policy on the S&P 500. So I just think that this double lunar cycle comes in. And we were talking about that concept of a high translation. And one of the things that this double lunar cycle does is that's what it does. It takes into account that the left or the right translation. This went back into a sell on 6.9. And this is going to stay in a sell for most of the month now, going forward. It came into a buy a couple of days here. We had a couple of good trades into there. But ultimately this is bearish. And we're coming into a time now where it's just, there's just nothing there. I mean, I don't know how else to say it. The S&P has shown no ability to do anything without the Fed since 2009. And now we're in a situation where it's actually, we're tightening and we're getting down into this phase where there's going to start shrinking the balance sheet. So it's going to be a tough road, Larry. I mean, you're picking an interesting time to take off here because I think we could have a lot of action in the next few weeks. Yeah. That reminds me of the, I think it was Scarface where he says, no that was the Godfather. He says, I keep trying to leave and yet they keep trying to pull me back and keep pulling you back, baby. That's right. So, you know, I mean, we'll see. But this is, these are the statistics for next week. Tuesday is a strong day. Wouldn't surprise me, you were talking about a possible bounce. It wouldn't surprise me before the Fed meeting. I mean, they don't like to see a crashing market when they speak. And certainly we've seen rallies every time the Fed starts to talk, even Yellen the other day, Jenny Yellen starts talking in the market, mysteriously rally. So wouldn't surprise me to see them try to do some more of these, what I call these poop slinging rallies where they, this false hope comes out of nowhere. But ultimately, when we look at the big picture, we just have to understand the reality of the situation. We cannot just pretend like the Fed is not there. They are there. They do strongly influence the direction of the S&P and it's down right now. So should be an interesting time. And then the day, you know, there's all these reversals that happen the day of the Fed, the day after the Fed. So it should be more volatility coming down the line here for sure. Well, whenever you see a bond market that moves $6,000, $7000 in an hour. So that is total fear because that big market is so much bigger than the stock market. Those are major players out there. Not that the stock people aren't major players, but these guys are swinging big bucks. Oh, absolutely. And they got, you know, sorry, go ahead. When we got into the Memorial Day holiday, what was interesting is they got ahead of, remember, they're trying to get ahead of the quantitative tightening. So, you know, this bond selling that's coming in, a lot of this is anticipation of what the Fed is doing and then the Fed is going to be starting now. So that plays a big role in the psychology of it that people want to be ahead of this. Stay with us. We got Shane Spolion, WolfTrader.com coming up next. 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 to help buyers and sellers make the most informed decisions across all price levels. 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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. Hey, we're back, folks, speaking with Shane Smollion, thewolftrader.com, and we're now talking to Mr. Shane Smollion about the gold market. Thanks, Larry. So you had a guest, let's take some notes here. You had a guest ask about gold. So I just wanted to give a little, a short-term update here on the gold. So this is gold miners. This is one of the markets that we track on the ETF services. It does really well with the Fed use here. These are the red arrows. But this is, just went into a buy yesterday and you can see down here at the bottom, there's a couple of these cycles that are coming into peaks here. So here's the double lunar cycle here. Here's the four to six-day cycle here. Both of these are coming into a higher around 617. Now the Fed meeting is going to be on 615 and we know that there's a lot of volatility there. So that's an interesting thing to look at here. So maybe gold tries to get a little bit higher here in the next few days. I'm going to talk about this weekend. There's a seasonal high coming up at the end of the summer. But ultimately, I think gold is in trouble. Now, people have brought up the point that's gold denominated in the pound and other currencies are doing well, which is true because the pound is getting weak and the dollar is getting strong. But ultimately, I think gold is going to have issues. I talked in the last show actually about how I felt that gold was going to be coming down into this 1,100 to 1,000 area in the next, probably the next three years. And so I started looking at different ways. The first way was this divergence. But the second way was looking at the Jupiter cycle, which is a 12-year cycle. So I did this last week. I'll kind of touch on this again about gold. Now, most people think of gold as their old, reliable, friendly dog, like Old Yeller. But is gold Old Yeller or is gold Cujo? And it really depends on the situation. I know that long-term gold continues to rise. But gold can have vicious bear markets that go on for decades. And so we just have to understand this, that gold doesn't have to go up just because there's a crisis. So the Jupiter cycle here is approximately a 12-year cycle. It measures the effect in each zodiac sign. But don't think too much about the zodiac sign. It's really just the position or the degree that it is, like a clock, as it moves around. So it's just a cycle. We can measure major peaks and tropes. And we can also measure divergences. So divergences are very important, Larry, because that gets into that high translation concept. If something is negatively diverging, it's having a high translation and it's actually falling before the cycle peak. So this is an example. This is going back. This is a heliocentric Jupiter cycle going all the way back to the 1920s. Now, this is gold. I bought this data. It's like a monthly data. And it's put it in real terms. But you can see there was a long period here going up to the late 1970s where gold was very, very friendly. But then we had this huge bear market here from 1980 all the way down to 2000. That's almost 20 years. So if your time horizon is 40 or 50 years, then by all means, you know, gold will probably be higher. But we have to understand that, you know, when you're sitting on gold and it's going down for two, three, four, five, six, seven, eight years, that can be very wearing. So I just want to kind of point some of this out. So this is the Jupiter cycle here. I did decade by decade here. This was 1970 to 1980. And you can see here, this is when it's our friend. It's old Yeller. You know, it has a little bit of a pullback here until 76. But for the most part, it's going up. This is also when we, gold was still more linked to currency. I know we started decoupling into this period, but gold was more linked to this. There were still countries associated with it. People still thought of gold in terms of money. So it was much more sensitive to inflation back here. But when we get back, when we get into the 80s, you can see that gold turns into kujo again. Gold starts to have this big decline. Now notice down here with the Jupiter cycle. Actually, let me go back to 1970. You can see here that this gold at the top here actually follows the Jupiter cycle very nicely here. So at the bottom, here's the Jupiter cycle. So here's, this is gold at the top here. And this is the Jupiter cycle down here. So gold has done a very good job of tracing this out. We have about nine of these cycles in. And then during the 1980s here, you can see that gold was falling along with the Jupiter cycle. So it's been following this pretty well. Now there are times when it doesn't always follow this. Of course, it can diverge positively and negatively. But for the most part, when this Jupiter cycle fell, gold fell also. So the Jupiter cycle here has two important peaks that we look at across 12 years. This is the first peak here. This is the first peak here. And then there's a second peak, which is actually three domed peaks like this. It's like a triple high and then it heads lower. So right now in terms of where we are, we're right here. Right on the tip of this next decline, that should take us down to 2024, 2025. I'm going to do another look this weekend at the Saturn cycle. But that's also showing a bear market is coming for gold. If we go into 1990, it's just more kind of more the same. The 1990s was much more devastating for gold. But you can see down here is the Jupiter cycle. And I'm going to fast forward a little bit here because I know we have time constraints. But this is going into. Now we have plenty of time. Okay. So this is going into the. This is the 2000 2010. So this is dealing with this is the Lehman. This is the great recession into here. And you can see here that here's the cycle here. Now notice this was an interesting situation here. This was a situation where the cycle was falling and gold actually diverged away from it. So it has shown the ability to do this. But I talked before about how there was two very big changes in terms of gold. The first one is dealing with the concept of QE. And so this is what happened during QE. So once QE begins as this new, the new norm in terms of monetary policy, it's moving us away from any concept of gold or the Federal Reserve can just print money. That's the first thing. The second thing here is dealing with Bitcoin. So this is the other big change here. So you started to see, I think gold went through two major shifts here. And so gold does run up here into COVID during this crisis a little bit. But ultimately it starts to fail into here. And why does it fail during the highest inflationary period since the 1980s? I think because the role of gold has changed. So this is something that I think has changed what gold is, how we should look at it. Now this is the actual graph here that I wanted to show. This is showing going from where we are now down here. This is gold up here. This is the Jupiter cycle down here. We are just coming into this next leg down on gold. And I think that's going to carry us down into this 2024, 2025 area. And I showed this on the divergence. I think that's going to take us down to probably somewhere between 950 to 1100 on gold. But ultimately, is gold going to be old yellow for us again and just be the old reliable? We can just put our money there and walk away? Or is it going to be Kujo? They come down and terrorize everybody. And everybody's kind of confused about it. I mean, I know it's confused a lot of people. But I think that this is a translation. What Stan is talking about. The fact that why didn't gold go up during the greatest inflation since the 80s? Because it's having an early translation here. In other words, it's diverging negatively. In other words, these were supposed to be cycle peaks here and gold is already falling. So I think this is inflated gold. I think this is as high as it's going to get. And the big test that we're going to see, I'll talk about this on Saturday, we do have a seasonal pattern of gold which gets really strong in July and August. This is like the seasonal pattern. So if gold fails to really rally, this is going to be the big tell here in the next few months. This really needs to start getting strong in the next few months. Or it's going to have problems going forward based upon these cycles and everything that I'm seeing. Wow, this is good stuff. Can you stay with us, please? For another solution here? Absolutely. Shane Smolian, folks, wolftrader.com. We'll be right back. 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Speaking with Shane Small, you're in the WolfTrader.com. You want to continue, young man? And please leave a message. Leave a notice where the folks can reach you, please. Sure. Okay, very quickly on this gold situation. So I think this is inflated gold. This is in real terms, by the way, too. That's why this is actually coming down a little bit because it's taking into account the inflation. But we hit 8.6% today in the inflation reading. I think that will come down. Okay, Shane, we've got a caller on the line. Let's take this call coming in. Sure. Absolutely. Go ahead, ask your question to Shane, please. Okay. Hi. Good morning, Mr. Presidento and Shane. Thanks for picking up my call. Just when you talk about, Shane talked about this gold, and I'm thinking that I look at the money chart that's shown by what you call Shane. In fact, it seems that from the money chart, what I call the cup and handle. With that, the target of gold is on the longer term basis, it could reach around 2005 to 2008. I'm not sure whether I'm correct because I'm not what you call expert or I don't understand anything much about the financial astrology. But I'm actually what you call analyzed more based on the technical analysis part. I'm not sure your comment about that, Shane. You're talking about a technical cup and handle breakout pattern? Is that what you're saying? Yes, correct. I'm talking about the technical kind of handle. Is there any conflict between these two? I'm not looking at the technical formation of the chart. I'm looking at the planetary cycles, and I'm starting to look at the fundamentals too. In terms of the cup and handle, I can't comment on that. But what I can say is inflation is 8.6% right now. I think that if it comes, and it's going to come down, but if it comes down to 5% to 6%, I think that's really going to have a negative effect on gold. I think this is inflated gold. I think we're looking at inflated gold. I'm going to talk this weekend about it. So if you want to come to the webinar, I'll take a look at the cup and handle. I'd like to come too. Thank you very much. Thanks for calling in. See you on the flip side, boys and girls. May God bless.