 Sign up today and become a part of this educational community of traders. Just visit the front page of TFNN.com. The following is a presentation of TFNN. Trade what you see with Larry Pezzavento. Oh, toll free at 1-877-927-6648 or internationally at 727-873-7618. Now, Larry Pezzavento. Okay, looking good. Billy Ray feeling good, Lewis. I've posted a chart here. It comes from Ned Davis Research and Carson Research. It shows the breadth indicator from Martin Zweig has given a bi-signal. And you can see since 1950, this thing has been nearly perfect. Now, that doesn't mean it's going to go straight up or straight down. If you know it says a year later, stocks were higher almost all the time of those 14 examples. However, if we look at the indicator that we got from stock charts, let's get this up here a little bit. This was from our good friend Jim Bartolioni. Let me get this chart up. Now, this is a shorter term one. I trade shorter term because I'm not going to trade weekly charts trying to keep the risk control. That's almost impossible to do. But as you can see here, this one here has said that the market for a short term, the breadth of the market is not nearly as strong as it has been in the past. Now, I want to cover one chart that someone has asked us to talk about. And then I have to do something special here. This is the chart of the natural gas. It's a four-hour chart showing that you have a big ABCD down here. You see the little red box that comes in at 204. We bought it at 204. Now, the low was 198, I believe. And after we had the first part of that run, we lowered our stop down so that we wouldn't lose anything. And, of course, today it's having a pretty good run. So we know that the bottom is in pretty much what we're looking at here. All we're going to do now is find an interday signal here or a way to day or two and find a good place to buy it because this is probably bottom. That's the main thing. Now, let's get back to the real nitty-gritty, folks. I've been around this business a long time. I've made some wonderful friends through the years. But I have to do a tribute today to my good friend, John Hill. I want to, if you'll give me one second, I will get this picture up here so you folks can see it. I will tell you the story John passed away just recently. You'll see the picture that you're going to be looking up here. John, of course, is in the blue shirt. To the left of him is Ed Dobson of Traders Press. And I met John in 1970 at the Stafford Hotel. I think it was Stafford Hotel. No, it was the St. Regis in San Francisco. We were having the cycles meeting there. We were having coffee. I didn't know who he was or anything. And he had one of his books, stock and commodity technical analysis of stocks and commodities. And he was showing me how his work was very similar to Hearst. And he showed me ABCD. We went to dinner the next three nights. And we became very, very good friends through the years. During the time I was at Drexel, I went to visit him in Hendersonville, North Carolina several times. And when I was on the floor of the exchange, I would travel down to Hendersonville to see him at least once a month during the next three years. And I really liked it. It was a piece of cake drive for me. I think it was eight and a half hours or something like that. But I had a nice car and it was fun. But we would stay at Stadia's house. And we just did a lot of work on the opening price and all that kind of stuff. And I can remember him having a little bell there. And every time he had a profitable trade, he'd ring Bessie's bell. He had this old cow named Bessie that would roam the premises. We had some other cattle too, but it was a nice little ranch. Probably about 20 acres. But he passed away at the age of 96, just two months shy of his 97th birthday. And I want to do another tribute to Byron Tucker's mentor, Tad. Byron was mentored by him starting in 1963 when Byron just got out of the University of Chicago. He was sent to Goldman Sachs and he ran the commodity desk there at the New York Stock Exchange, not New York Stock Exchange, at New York Commodity Exchange. And he would... Tad, who had... I'm going to get a little confused here, not confused. I wrote it down what I want to do. Tad started in Wall Street in 1948. And he was actually new. Amos Hostetter, he worked for Home Blower in Weeks. And in 1950, they had built a building right off of FDR Drive there on the east side of 42nd Street, east 42nd, and by golly, it was a beautiful building. And on the top floor, they had a one-bedroom apartment that was a garden apartment. And he bought that and he paid $48,000 for it. And over the preceding years, about 22 years later, they built a big building right across the street from his building called the United Nations Building. Well, as Tad got older, he sold the building about 30 years ago. I think he got $4.8 million, I believe, what Byron told me for that. And of course, he stayed in New York for another few years. And then he moved down to South Carolina and he passed away this weekend on Saturday at the ripe old age. Believe it or not, folks, Tad would have been 109 years old in three months. And I was the oldest human being I've ever met. My great-grandmother was 103, but Tad was going to be, he was 108 years. And we used to joke about it. His secret to life was he didn't drink, he didn't smoke. He said, I have occasional glass of wine. He said, I have a cigar every Saturday night. And he said, I take one vitamin a day. And he said, I never speak ill of the Lord, and I go to church as often as I can. So he lived a great life, very nice man. I met him, oh my gosh, probably a dozen times over the years that I've known Byron. But boy, he stopped thinking that, folks, 108 years old. And of course, his only regret was he outlived all of his relatives. And he was married once. His wife passed away one year after they were married, and he never remarried. He said, he found his angel, and that was it. So anyway, that's the way it goes, folks. You live fast, love hard, die young, and make a good-looking corpse. That's right out of a movie called Knock On Any Door by John Derrick. And it's also the motto of the Navy Seals. So we'll have to ask, well, Bartolioni is not a Navy Seal. He's a Navy fighter pilot. We're going to cover some other charts here when we come back. And then we're going to have Bill Meridian as our guest at the break coming here, which will be very, very shortly here. And then we'll be able to answer some more questions. I had one other mention. Someone asked me a question about what happened in 1929 at the top. I just made a top, folks. It was September 3rd, 1929. The market had been going up since 1923. So it went up straight up for six years. And then it went down from 29 to 32. And then from 32, it's been going up ever since. But that was the big bear market. We've had other bear markets, but that was the one that hurt the most because that led to the Great Depression. And people finally got through that. There's a lot of arguments out there where they're going to have another one. They say the Fed can prevent it. Well, the Federal Reserve was still around back then. Remember, it started in 1913 at Jekyll Island there in southern Georgia. Anyway, let's take a break. We'll be right back 877-927-6648. Currencies, commodities, and bond markets are as important as ever right now with how they're driving the volatility in equity markets across the globe, which is why it's a great time to try out Teddy Kegstad's Tiger Forex report. Teddy Kegstad breaks down the forex markets every Monday using his 30-plus years of experience as a trading veteran of futures, forex, stocks, and options. Teddy releases his weekly Tiger Forex report every Monday morning with coverage of all the major currency pairs, including the Dollar Index, the Euro Dollar, Pound Dollar, Dollar Swiss, Dollar Yen, as well as many more. And he also has weekly coverage of the crude oil market and the 30-year T-bonds as they both influence forex markets tremendously. When you sign up for the Tiger Forex report, you also gain instant access to Teddy's 60-minute webinar archive. He just hosted Forex Strategies and Fundamentals What is Behind the Tiger Forex Report. For all the details and to start your 30-day Tiger Forex report subscription today, visit the front page of TFNN.com. TFNN Educating Investors. Steve Rhodes started his trading career as a student almost 20 years ago and the student has now become the master. Steve won the prestigious Timer of the Year award in 2018 and barely missed that mark again in 2019, finishing at number two for the year. An amazing accomplishment. Steve Rhodes is committed to sharing his techniques and knowledge with anyone who wants to learn and he shares his vast amount of trading knowledge every day in his Mastering Probability newsletter. Steve's award-winning newsletter, Mastering Probability, is delivered every trading day with updates throughout the afternoon. Sign up for Steve's market newsletter, Mastering Probability and you'll receive access to seven of Steve's educational webinars absolutely free. At TFNN, all our newsletters come with a 30-day money-back guarantee so you have absolutely nothing to worry about. Visit TFNN.com and try Mastering Probability 30 days risk-free today. TFNN Educating Investors. 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. OK, folks, I posted the chart of the Crudall Market back in September of 2019. If you recall, we were talking about this last week. And if you'll notice here, this was the 78% retracement ABCD D-Number on the long-term daily charts and also on the weeklies. That came in at 69 and changed, as I remember. If you'll remember, the market broke $9, and then I said it rallied back almost $9. And it did. It missed it by about 70 pips. And someone said, I don't see how Crudall could go down $9 and up $9. Well, you can see it right there. It's a pretty big move. But I remember it because it happened to be in that. He had this little trade right here. You can see the small ABCD. And that came at the 50% level off of this level. So that was natural support. Then you went up, and then you made a 1-3-5 pattern, and then you rolled over. And the low on this Crude Oil contract didn't happen for another three and a half weeks. And it was $11 a barrel lower than this chart is showing right now. So I do still have a good memory of dates and numbers and stuff. So names once in a while slipped my name, but that's pretty much it. As I started to do this tribute today for John Hill, there's really no way that I can... He and Larry Williams are probably two of the most instrumental people in my career as trading. There were others, too. My soybean mentors and Jim Sibin and Earl Hadidy. They all had a place in telling me different ways to look at them. And of course, Don Mack at the old scientific... What was the name? Oh, dear. The library there on Little Santa Monica. Now I'm having a slight senior moment. I have to share you a chart here, folks. Very, very interesting because it's a daily and it is extremely bearish. It's related to commodities and get back to the old idea of looking at charts here instead of just getting out. Let's get moving on here to the stuff. Because Don Mack gave me the book, the Gartley book in 1973. Unfortunately, I didn't pick it up till 1975. Well, he gave it to me in 72. I picked it up in 74. You can see this. This is a beautiful head and shoulders pattern, folks. It's perfectly symmetrical, the right shoulder, much lower than the left shoulder. That tells you that, golly, gee, there's probably something here that deserves our attention here looking at these things here. Now, you know, we have a market open slightly lower today after being... We opened right at the 61% retracement here Sunday night. And then we sold off from 41, 41 all the way down to 40. We took the previous days low at 40, 98. We took it out by a penny or two and, of course, we've been rallying ever since. And that tells you there's still buyers coming into this market. The Treasury bond market has sold off a little bit. It's at a very critical level also up there at that 134 level. If you look at the trade, what you see, a newsletter, you'll see the importance of some of those numbers that they line up very, very perfectly actually. So what we're going to do now is I want to... I still think that the key to all of this is going to be in the banking index. And since we're going to look at one of the big banks, which is... Of course, it's not a commercial bank. It's an investment bank, which is Solomon Brothers. Goldman Sachs, just a second, boys and girls. This old cowboy has pushed the limits of what he can do. So let's get this up here, take a quick look at it. Now, this is Goldman Sachs. It's looking better than any of them. The worst-looking ones, of course, are Bank of America, Wells Fargo, the banks of the NASDAQ. But even those, those have started to try to make a bottom. So they're going to keep telling us that this banking crisis is over. And I certainly hope that it is. I don't like to see any banking crisis. But if you look here, this is a possibility that we could be making a bottom here in these banking stocks for the NASDAQ that Bart told us about before they dropped about 35%. There's... You can see it right there. This is just the... I believe this is the four-hour chart. And as you can see, we've made a very nice... Actually, it's a three-drive to a bottom because we made a slightly lower bottom here. We've had a little bit of a rally. Not much of a rally yet, but all the rallies have to start somewhere. And it's certainly not exploding to the upside, but it's still moving higher. So let's remind ourselves that that's what we're looking at when we're watching some of these patterns. Because when they fail, they're telling you that something is wrong. You better get out of dodge. That's the main thing. Okay, I got one other here that I wanted to show you. And this is what you don't want to have happen, folks. This is the signature bank of New York. And I know the people that had their money there supposedly are going to get their money back through the FDIC. But the stockholders in this... Look what this thing is trading. It went to zero, folks. This stock was trading at almost over 300 at one time just a year ago. Now somewhere in there, someone should have realized there's something going on that this bank is not being run right. I mean, no one has the right to stay in that stock and they don't have to for heaven's sakes. It was a $380 stock and went to bupkus. Come on, you have to take responsibility for some of these things. Just take a look and get off my horse here a minute. Here's another one here. This is the one that was in the news for a very, very long time, of course. And I think this was a Silicon Valley bank that had all that stuff. Look at this bear market all the way down. That one was trading for 700 and it went to zero. Now, back in the old days, a stock that goes from 700 to zero, a major stock like this, the 16th largest bank in the country, the stock market would have got hit really bad and it didn't. So that tells you that this banking thing that they're trying to tell us is probably bogus. So watch some of these banking stocks. They might have a really good place to enter. I'm not entering them, but that's what they're trying to tell us. So we have to do one thing at a time, but that's what they're looking at over here. Gold breaking below $2,000 is a big thing, folks. It's the first time it's broken a sequence of highs and lows in well over two months. And so that tells us we will be heading down. We went below $2,000. We're trading around $205 the last time I checked. So that's going to be a real interesting one to pay very, very close attention to also. I want to bring one other commodity up because I think it's very, very interesting because it is, and I don't know how many people we have here looking at hogs, but they're up sharply today. They're up about a buck and a half. Hold on one second and we'll take a quick look at this. Uh-oh. I think we're going to be okay with this now. Yeah, here we go. There's our picture of the June hogs. If we can get June hogs down about four cents from where they are right now. I think they're right now. They've rallied a little bit because it's very oversold, but I do. But if we can get them there at this 1.618 level where this butterfly is, I think that would be a very nice Christmas present for the middle of the year. Okay. So we're going to take a break here now. And, uh, well, sorry, I got another 34 seconds. Well, what should I do in 34 seconds? I should tell us that we're very thankful to have Bill Meridian coming up next. So, stay with us. We'll be right back, Boys and Girls. Every Monday morning, I publish the Gold Report with coverage of gold, silver, bonds, DXAU, HUI, GDX, as well as more than 30 different mining equities. To see for yourself the types of profitable trades that are recommended within the Gold Report, sign up now by visiting TFNN.com. Don't miss out on the next great gold trade. Sign up today. Everything in the universe is governed by the Fibonacci sequence. This mathematical principle is responsible for everything, from the most aesthetically pleasing artwork to patterns in the stock market. To stay on top of stock patterns you can take advantage of, sign up for the Fibonacci 24-7 newsletter at TFNN.com. When you subscribe, you'll get a weekly report from veteran day trader Larry Pezzavento on stocks you need to pay attention to. And you can trust Larry's analysis. After all, he's got 45 years' experience as a day trader. Larry will also provide daily charts, videos, and data on the key markets that he's tracking. Expect notifications from Larry on market movement you need to act on at any time. First-time subscribers also get a 30-day money-back guarantee. If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up. Subscribe to the Fibonacci 24-7 newsletter today. TFNN.com. Educating investors. Sharpening your skills as an investor is like getting better at playing a musical instrument. You have to practice, sure, but you also need excellent instruction from experts. At TFNN, you'll get advice and guidance from the authority in 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 a.m. to 4.00 p.m. Eastern. For free, each host is an experienced trader and gives their take on the market while taking calls and questions live from around the world. From the moment the market opens until the closing bell sounds, Tiger TV has eight different shows with expert hosts to help you make the right moves with your money. Watch online at TFNN.com or on TFNN's YouTube channel and become the investor you were born to be. TFNN Educating Investors. This segment is brought to you by Think or Swim. For more information, just click the Think or Swim banner on the front page of TFNN.com. Okay, we're back, folks, and I believe we have Bill Meridian of Cycles Research. We're in Austria online. Bill, how are you doing today, my friend? I'm doing well, Larry. How are you? I'm hanging in there, buddy. We got a good friend going to have a birthday here. His 82nd birthday is coming up here Monday, week from today. Arch Crawford, I'm going to do my best to take him to lunch, so I'll give him your regards because I know you guys are good friends. Tell us what you're looking at today, Bill. We're having a lot of volatility and cross currents in the markets with banking collapses and stuff like that. Could you give us a little light of what's going on? Let me get the screen sharing working here first. I don't know why it was so hesitant. There, can you see that? I believe we can. I think we're up and running. There we go. Oh, wait a minute. It says not yet. Try it one more time. It didn't catch, so we'll try it again here. I hope this works. Oh, there we go. We're in business. Just a little pause a little bit. There, we're good. Yeah, let's go. Okay, welcome to the Larry Pesavento Show. The show where all listeners end up riding around in steaks and eating Cadillacs. Okay, so April 10th. Stocks, I think, are strong through the month, but be aware of a high. Let me just explain that way back when, it was a Q4, I had pointed out that the cycles, the 1410-year cycle and the dynamic cycle, both top sort of April-May. And that's the danger point. The conundrum here is that if stocks are up in both January and April is an excellent harbinger for the rest of the year. So in other words, not all the indicators are confirming here. And as we're moving forward, we're gaining technical strength. So my strategy has been I am long stocks about 50% to 60% invested until probably late in the month. And then I'll either sell or I'll buy an inverse fund to protect equities against the decline. But I'm also long gold, long bonds. And say the 1410-year cycle, I just said that stocks this week. These are specific recommendations. Delta reports Wednesday before the open. I think that's a buy. I think a short emphasis INFY on the big board reports Wednesday before the open, which means if you want to play them, you got to take positions tomorrow. Bonds of bear market rally and gold higher prices. This is the 1410-year cycle. And of course, I'll explain it very briefly. The one year cycle is of course the seasonal cycle that we experience every year. Four year cycle is the well-known presidential cycle, they call it. Even though it worked before the Federal Reserve existed and it works in countries where there were four-year election cycles, six-year election cycles and no elections whatsoever. And then the 10-year decennial cycle of Edgar Lawrence Smith. And as you can see, the summation down here shows at top at about mid-month. Then if we go to the dynamic cycle, which is from my own software, I choose a spectral analysis to pull the most recent valuable data out of the Anytime series. It shows a high up here in May, even though it was completely wrong here with the sharp decline, which caught me very unaware. So that's what the cycles say. Now, one of the best oscillators to use is the 10-day advanced decline line of the New York Stock Exchange. Here you see a big move up, a big move down, and now we're here, we're about neutral. So this is not a concern. We're not over what we're not oversold. I read this is bullish. Now, the one stock that I recommend shorting emphasis, again, I would short this on Tuesday, INFY, and I would go long Delta at the same time, Delta Airlines, DAL. And here is the S&P daily. Now, let me just, we're only off about six points on the S&P right now, so we're in here. But I'm expecting us to go up to this 4150 line and have a brief pullback somewhere around, well, somewhere this week. Next week is option expiration or OPEX week for April, which is usually bullish. So we hit this green line, I think at 4150. It's also a Fibonacci retracement line, and then we'll pull back. Now, strong stocks, this is this technology right here, applied to individual stocks. And this is NVIDIA, which has been up a lot, but it pops up in a screen that I run that measures both relative strengths and the seasonality for April. It was up at the top of the list. Then I run the dynamic cycle. The dynamic cycle is just that, it's dynamic. It's extracted from the latest data. So number one, bullish in the month of April, number two, it's number one in relative strength on the entire NASDAQ. And number three, it's got cycle low here, right here, April 10th, and it encompasses the whole month and next month, too. I know it's overbought and overextended. Now, this stock, now, it takes a great deal of courage to recommend this stock, but you'll note the sell signal right here. Look at that. Pow! We went, what, one or two days past the low point. And I could tell you, snap bond is up at the moment, four points, which is 1.8%. So it's up to 33%. So it's up around here. Today. And the cycle is bottomless week. Of course, the market was closed on Thursday. Now, snap on, where their report earnings, which is out here in April 20th, I think it's going to be a good earnings report. Bill, is there anything? Yeah. We're having tremendous static on your mic. When we come to the break, maybe if you could pull the microphone out and then reboot it or something, because it's terrible static right now. I was unaware of that. Yeah, they just alerted me that I can hear it too. It's quite ratchety right now, but I'm sure we'll get it fixed here when we come to break. Your information is more important than the static. So just keep going. We can hear you good enough. Okay. You still there? Well. Is this any better? I think so. Let's give it a try. Okay. So that's NVIDIA and snap bond. Much better. Much better. Okay. This is very interesting. If you put it on a close only basis, this is the gold price. This is a breakout. If this were a stock and you were looking at a daily chart rather than it being gold on a monthly basis, you would say, well, it's a breakout of some kind of formation here. And it projects up about the depth of this drops, which means it could go up to a 23, 2400 something like that. If you look at it on a close only basis. So this is the gold monthly cycle. Again, it's the same technology that we looked at the S&P and the stocks on. It does not top until June. Then it comes down. But let's remember August and September. Let me get these up for you. August and September, especially September, these are two of the strongest months to own gold and is usually a bottom around June. Now this is based on data from 1861. August is actually a lot stronger. And so you'd be bottoming in here. You know, gold blew right through the week period here in March and didn't even, wasn't even phased. I mean, this is weak. Weak is up 45%. And Larry's got to sell something, I think. This is right. Well, Mr. O'Brien does sell some dog food. Okay. Okay. We'll be right back with Tilbury Cycles Research. We're right back folks. Give us three minutes. 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. 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. TFNN.com Educating Investors 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 Biotech is booming, but for how long? Whether you think the Biotech bull has room to run or has run its course, trade LABU or LABD, Directions Daily S&P Biotech three times bull and bear ETFs. Visit DirectionInvestments.com slash Biotech today. An investor should consider the investment objectives, risks, charges and expenses of the Direction Chairs carefully before investing. The Perspectus and Summary Perspectus contain this and other information about Direction Chairs. To obtain a Perspectus or Summary Perspectus, please contact Direction Chairs at 866-476-7523. The Perspectus or Summary Perspectus 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, Foreside Fund Services, LLC. This program is brought to you by Vista Gold. Traded on the NYSE American and TSX under the symbol VGZ. Folks with Bill Meridian, Cycles Research, be in Austria. And Bill, you have successfully fixed the static, so we're in good shape now. Please continue. Okay, well I just want to go back to this. I just take a look at a good feeling about that chart. In 2015, the gold prices around $1,100 and now it's almost doubled. This is the dynamic cycle, of course. This green line, which is a bit faint, represents the UGL exchange-traded fund. Now the UGL moves at double the rate of gold. In other words, if gold rallies 2%, it's up 4%. If gold falls 3%, it's down 6%. So it is an aggressive gold ETF. It's leveraged. The GLD, however, is one-times gold. So if gold goes up 1%, GLD goes up 1% and the same on the downside. So by dividing it to get a ratio, now it's my contention that I've used this very successfully, that if you're allocating so much to gold, you've got to make a decision. Should we buy the UGL or the GLD? Well, if people are very aggressive, they're very optimistic. They'll go for the UGL, not the GLD. The GLD is for cautious buyers. And you can see, do you remember the gold peak back here? Look where the ratio was. Has it even come close to that since? I mean, look, it just did from here to here. This tells me that most investors don't believe this. If they don't believe this, that's the type of contrary opinion that keeps the market moving higher. And this is based, remember, this is a sentiment indicator based upon what people are actually doing, not what they're saying. Like if they polled us, Larry and Bill, what do you think of gold? Well, you give an opinion because it's just your opinion. You're not risking anything. But here, people are actually putting money to work. So I regard this as, this works, by the way, for the other exchange-traded funds, too. You can have the two times, what are some of the others? I think the euro you can do this with, or you can do this with oil. Just divide the multiplier ETF by the one times or the unleveraged ETF and you'll get an indicator that looks like this. So that's one of the reasons I think that is, look, it just broke out. I mean, it's right above support. And I know it's down today, but it's trading at $2005 a share, which means it's up around here. It's up around here after being off $21 today. So I think it's got much further to go. Now, let's look at oil, which has really been a tough one because I never expected a big drop in oil in this season here, March, April. Now, you can see, we're about here in April, about a third of the way through April. We've got, we're at a seasonal peak, really. And here's the daily oil. I was actually, I got cloned here when this broke. I had to sell off my oil positions, which were pretty heavy. I took a loss. It got down here, it popped up, and it jumped 10%. Now, one of the features of my software, after oil rises 10% in a day, up days equal down days for about 22 calendar days before upside momentum returns. In other words, if oil rises 10% in a day, it's sort of up eight times down seven times, up seven times, down eight times, for about 21 days. I relax the parameter to a 5% jump in one day, and I get about the same result. In other words, you see that range, this was on up on LinkedIn, and I think, maybe I put it in Forbes, but do you see this range here? This is telling us that that is going to continue. So that's four calendar days, five, six. We've got about 16 more calendar days to go, which means you have no great reason to go longer short oil over the next two weeks. But the way this looks, remember, it's now going to start. That would take us all the way to the end of April, and then you may get some upside action in May, but you're getting close to the edge of the seasonal period, the seasonal bearish period. Well, I don't have any position, but oil did hit a 50% retracement level of the rally from 2020 up to 2021, and so it does have some degree of support here. Now, most of one of our listeners, what is your interpretation of what the Saudi government did with as far as cutting back oil production? Is there any reasoning behind that, or is there a political ploy of some kind, or what is your feeling on that? Oh yeah, they're trying to make the American leaders look bad. They're trying to drive up the oil price. So anyway, most bond marks are at Fibonacci levels. This goes for Italian bonds, the US 10-year note, the US 30-year bond, the JGB, the Bund, and I said, this cannot be a coincidence. I said, you know, I was on last time and I said, March is the weakest month, which it is, and the third week is down about 82% of the time. Well, it went down for, was it two days or three, and then it popped up strongly for two days. That's only the eighth time since 1983 that bonds have risen in that one week period. So that tells you something. So the combination of that, and look, we got to this month, look at this month of March. We're now in April, look at the difference. So you're past the seasonal period. I took a lot of spare cash, I haven't managed portfolios, and I put it into the TLT, which is the Unleveraged 10-year note ETF. Here are bonds in the month of April, and as you can see, there's a week period in here. This is the one you told us about three weeks ago, and we did have a pretty good break from there. Yeah, but it recovered right away, and we had a lot of very extraordinary events of bank failures and stuff like that. And so this doesn't, this same technology, 10-year note cycle doesn't top until May. So let's go back here, and here you go. So from here to here, I think we're okay. And again, I can't, it's only the eighth time that notes have risen in that very bearish third week of March. And so you can read more about Bill under the name BillSaruby at Forbes.com, and the foundation of the study of cycles. Come give us a visit, cycles.org, and cycles, well, billmarudian.com. You have the Early Warning Service and some books. So Larry, do you have any questions? No, this is really great, Bill. You've been really spot-on on most of these. Well, only when you miss was crude oil, and I think everybody missed that one. But anyway, I want to thank you for being our guest today because you really give us quality stuff, and you're very famous and well respected everywhere and well needed everywhere. By the way, are you coming to the U.S. soon? May 10th. May 10th, well, that's close enough. Well, hopefully we'll get together while you're over here. So I'll be going to London in June, so not close enough to Austria, but thanks for joining us today, my friend, and I'll give our regards. Well, on the way back, if you stop in New York, let me know. I certainly will. That I certainly will. Bill Marudian folks, yep, I will definitely do. I'll have you taking for a real nice lunch. We'll be right back, folks, 877-927-6648. If you're looking for potential trading setups in the stock market, then Rocket Equities & Options Report is a newsletter you should try. Tommy O'Brien delivers options and equity trades and 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. 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With live programming hosted by a variety of professional traders during market hours, the Tigers Day. Available to all Tigers and Tigresses for just $1 for the year. There's no catch or added costs when you join our community of traders. Sign up today and become a part of this educational community of traders. Just visit the front page of TFNN.com. This is the Dow Jones Industrial Leverage. This index is not looking very bearish as we speak. Hold on, and I'm going to give you my two cents worth. And if you pay for that, you probably overpaid. There you can see. We have been right up here now, but look at this, folks. We've been here for a long time. We've been here for a long time. We've been here for a long time. We've been here for a long time. We've been here for a long time. We've been here for a long time, folks. We've been here one, two, three. Today's the fourth day. We've been setting at the 61% retracement of the high that we made way back when, folks. This is a very important number. If we close above that 33,800 level, and we're not very far away, we're only 30, 40 points away. Oh, 60 points away. We could easily see this market go higher. It's taking bad news. It's going down, and all the other stuff that's going on in the world. So it's quite amazing to see. By the way, I don't know if any of you saw the tribute to the Beach Boys last night from the Grammy Awards, and gosh, that was so great. I mean, anybody who couldn't get goosebumps, listen to that music that we've lived with through all these years is really spectacular. I actually had tears in my eyes, and Sarah said, why are you crying? I said, well, there are tears of happiness, because I was a big fan of them, so a couple of them. But anyway, it was just really, really exciting to watch them. And of course, the people that sang their songs didn't quite do as good as job, but everything, the lyrics and the melody was there, so it was really, really, really super great. It was really tough for me, because my very best friend for many years was Jay Cross, who worked at commodity corporation back in 1964 with Amos. And we were very close, and he was very close to two of the Beach Boys, and I met them through him, and that's why it was really quite a kill. They're nice guys, they really are. They never know they were superstars if you met them personally. Anyway, we're going to take a break here for the next show coming up, and we're going to see what we can do. So live every day in an attitude of gratitude and may God bless.