 The following is a presentation of TFNN, The Tiger Technician Hour with your host, Basil Chapman. Call now. Call free at 1-877-927-6648. Good morning, everyone. Basil Chapman here on this Friday, the 25th of August. Gosh, August has just flown by. We say that because the weather in the Boston area, this August has been very cool and a lot of rain, raining today, seriously, from last night. All right. So the Dow is up 112 at 34,212. This is going, let me go through this step-by-step, regardless of what Fed Chairman does, the markets are telling us that there is, you know, I talk about bifurcation, meaning some sectors are really moving well and others are not. And then I say, maybe it's quite, even within sectors, even within the semiconductors, where NVIDIA was the absolute star all week until that reversal early yesterday morning, look, you can go through advanced micro devices, it's not a great-looking chart. You can go through, Mar-Vell came out with earnings, I've been in check, what happened to them, down three, down almost four, this is the story that we're looking at. I don't care what the Fed says, there are certain aspects to the charts that are indicating that there's a consolidation going on. I'm using the 914 as a really wonderful key. This is the, I had my webinar on it, it's still time, it's a webinar, it's a teaching webinar, it was not just for a one-day thing to say this is where we are, it was looking out at different areas. Look, when that green nine-period moving average, the Dow is up 83 right now, 34,182, I talked about this in terms of double tops, was this the one? Yeah, and then we said, there's a chance when that green line, the nine-period moving average goes under the 14-period moving average, like it did back in May, you're going to get a couple of weeks of downside activity. So with that said, let's go to the actual chart, here it is, so yes, the Dow, dollar INDU, there it is, yes, the Dow, it makes a high of 35,670,000 for disclosure purposes. I should say, August 1st, we went short, the Dow, still short the Dow, taking just a tad off, we're basically short the Dow, and there is a left-side, right-side price time-match, and I discussed this in my webinar, it was a teaching webinar, I discussed this arch formation, how you can get symmetry between the number of bars to the upside, to the number of bars to the downside, have no idea if it's going to happen, but it did once, so it might repeat twice, 33,610 was the low back in late June, and I suspect that that's kind of, getting close to that area is where we're going to see, now we had the digestive phase, what's happening, has the weekly chart today at four o'clock, when the Dow weekly chart closes, I'll be able to assess whether or not there's a cell signal in the weekly chart, so far the MACD has turned down, actually it's at zero, zero, so it hasn't crossed yet, have to wait for the close today, there's the M-shaped pattern in the on-balance volume, the stochastic was fabulous at the 90 area, 90% now it's at 76%, the only thing that gave me a signal that says it could be a sharp reversal, in this particular instance in the weekly is this little double top, but the on-balance volume gave a perfect turnaround on the first, so these technical indicators are saying to me, these tools are saying, don't be impatient, wait to see what happens, we close sharply for this week under the 14 period moving average in the weekly, and then on Friday a week, Friday a week, I believe that's the, Friday a week is what date is that, where's my August calendar, Friday a week is the 25th, that's 31st, oh that'll be the 1st, no come on, is that really, oh we're right out of August, 25, yeah 31st is Thursday, so let's say it's Friday in any case, it doesn't matter what the date is, the bar says it'll be the weekly bar, if the bar closes under, sharply under that 14 period moving average, I have to initiate a cell signal in the month, in the weekly chart, just as simple as that, but it's a much better looking chart in the S&P, because look the S&P at this particular point, cell mode in the, in the daily chart, it wasn't an exact to the high of 4507, a background about the 27th, 8th or so of July, with the price time match, I chose a different candle, but I'll be making changes to that later today, we'll see what happens here to move it, sometimes there's a sliding vertical line, that plum line in the middle, all right, and even here the day is not young, Fed Chairman has to speak, what I want to go through is where we are and what we're looking at, and the weekly chart on the S&P hasn't even given a single signal yet, other than to say, watch out, because it is turning down, but that nine is still very strong, and the monthly chart is still very good, look at the QQQ, a slightly different chart pattern in the daily chart, because it had a much bigger spike to the upside, based on Nvidia's action on Tuesday, Tuesday, Wednesday, and then Thursday it turned around sharply, but it also is in a cell mode in the daily, but not in the weekly, weekly is still looking pretty good, monthly is looking very good, IWM, Russell 2000, we're looking at the IWM, also very sharp turnarounds under the 200, the cluster formation at the 200-period moving average just tells you that until it breaks away sharply on the upside and goes to, it's at 183.42, until it starts trading in the 187s, this is just kind of stuck, now let's go to gold, because, oh no, no, I want to go to the SMHs, that's because that's my clue, the SMHs right now are at 50 cents at 149.34, that was a spectacular move to the upside, just needed to check, I thought I'd done it, but I guess I was busy with other things, was that, let me just look at that, the IWM, the 22nd was 153.24, the following day was 153.22, so that means we went to a peak A right there, a gray A, because the technicals were still very weak, and then we went to a gray B right there yesterday, and that just says to me, and now we've pulled back with the pink nine-period moving average still negative under the 14, the daily chart, MACD is trying to cross positive, it's still negative, Sycastic's okay at 54, it's actually quite weak, the unbalanced volume is very weak, so we're going to have to monitor this very closely, and that's really a clue for me, because if the SMHs at any point in September start to trade above 160, the all-time high was 161.17, for clarification, we did go short two days later at 159.07, and we are still short that position, we've taken all our gains in the three times short SOXS, I was about to go back in yesterday, and I thought, geez, a little soon, we just had a lot of trades, was silly, because you got to do what you got to do, and I didn't take that opportunity, so, but there's plenty of time, if this is going to be going down for a period of time, in other words, a couple of weeks in the semiconductor in the next, it'll impact the general market, but I was thinking closely, because if the semiconductors start to strengthen, that will help the market, I'll be back in a moment, Basel Chapman, Tiger Fishers, our Basel, 146, as it be, the 26th in the world, 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? 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Subscribe to the Fibonacci 24-7 newsletter today, tfnn.com, educating investors. tfnn has launched 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. The Tiger's Den, 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. Toll free at 1-877-927-6648 internationally at 727-873-7618. Hi folks, so the vicissitudes of the market are shown right here. Look at this. This is the one minute chart. It was just meandering along and popped up and then it failed and then it had a big spike. But on days like this, this is the one time in the Chattanooga methodology where the one minute chart can have aberrations. In other words, this peak A can turn into a peak A minus a single leg A to the upside. There's actually a B right there. So I should put that in correctly. That's A and a B. It could fail. And I think that the market is, you know, this is the kind of day where you just want to step aside, subscribe, monitor our long positions with stops or whatever it is, short positions, change, whatever it needs to be changed. And just take a breather. Let the market play out. There's just no reason to get excited and say, this is it now. And I have to go through things step by step. So let me come back to what we're looking at here. It is a leg D in the 10 minute chart. And the 200-period moving average of 44, announced 44.11 is kind of key. We're at 44.10. Sorry, we're at 44.08 in the E-mini, the days here. So and I'm not even going to talk about the Chattanooga red inverted Roman candle in the day. Let's just get on with what's really important because look at this. I spoke about the gold. I'm a little behind now. I believe I'm thinking about 10 minutes behind in this contract. Now it's only down to $1.07. I'm going to be watching this closely. Why? Because the dollar, not because of the Fed, but because of its action, said to me that the tactics are so really strong, but purely on a candlestick chart basis, purely on the resistance levels that I've typed in here over and over and over, that the high that was made on the dollar index and on the 31st of March, May, sorry, May at 104.70, this whole area between that and the previous high of 104.27, I think it is. Today's high is 104.31. We're right in the middle of that. But look, the Magdez goods, the Castex flat at 86%. The red, you see this little gray line, the rental strength is working beautifully. UUP, which we are still long from 2018 has the potential for doji type candle, had a fabulous move to the upside, walking the nine period moving average, not even testing. Since the since the little rebound back on the 26th of July, it hasn't touched the black line, the 14 period exponential moving average. I would not get caught up. The Magdez goods, the stochastic is flat at 90%. Flat at 90. Every textbook says it's overbought when it's over 80%. I saw you kidding? That's where you want it to be. Look, the longer that it stays up above 80%, the longer the price holds up. As soon as it gets back to 80%, look what you get. Fabulous action. So this could be an Eiffel Tower, single leg up A, single leg down, and then actually made a B, but like a single leg spiked to the upside on news, and then it gives back a whole chunk of it. Be careful. That's what I'm saying. There we go. So the UUP is acting really well. It had a breakout in the Chapman Way falling ax formation. I said, yeah, it could go to the high. I like to do the step by step. It's already almost done the first. I usually take these out because it looks so weird. But anyway, it's a technique that I use. Look, here we go. Make it thick. Make it blue. Make it blue. And then I'll repeat it again. And remember, I don't go to the exact level. It has to work its way. So it's a work in progress. I don't like to over anticipate. I like to just anticipate. So this will be light green right here. And look what happens. From this truck right here, I would do a parallel, this is called the Chapman Way parallel one to one extension. And I must go in the same angle, same number of bars to a match. And that goes from there. And we haven't got there yet. 2913 on the UUP would do it. But isn't this a nice one? This is a Chapman Way Falling Exformation. If this exceeds and we start to trade nicely above this trend line right here, the Chapman Way Falling Exformation, I have to explain it. Okay, Chapman Way Falling Ex, explain now if I can just find it. Let's do that quickly. Actually, there's no rush. Why am I saying quickly? There's no need for any quickly here. We've got time. It's this pattern where the price goes up to a D or an E or an F. And then it starts to make lower lows and lower lower highs and much lower lows, like an expanding cone formation. And then what happens is suddenly finds a base and bam, it goes through the upside test that downtrend line and breaks it. And that's where you can get the Falling Acts goes to a cup formation with a chance of retesting the previous high. All right, so what did we do? We went here falling. I just moved it, did I? Didn't mean to do that. Sorry. Get back there. None of this is automated. I have to do everything by hand. So look at this. Everything's done here. And the price is way above the pink at the green nine period moving everything the lines way above the 14. And the magnet is good. And the stochastic right there is flattened 90% on balance one is getting a little toppy you were a little toppy. And now there's a bit of a divergence, but there's great line here because there is volume is very good. So it's going to have to be a slide in the U. U. P. above to below 28. It's a 2899. It has to really start to trade below 2848 for that green line to actually get even close to the black line to become negative. So so far, I like what I'm seeing there. Let's do exactly the same thing because a lot of people are talking about gold. Gold now is down six. And one of the things one of the reasons why we didn't enter into the gold even though I liked a lot of the things I like silver a lot more is that this is a work in progress. When you make a dreaded H like this and the power dreaded H have to talk about it. So let's just get to the dreaded H. The dreaded H is this. I always look at basically three patterns that go straight up straight down cup formation or art formation. When it's pink red like this and you come straight down and then you make a rally that goes to peak air or B minus and it fails and takes out the left side. It can go a lot lower. Look, there's one peak a minus fails. There's another one peak a minus is gold. There's another one and it fails and it fails. And now you've got to peak a it hasn't failed anything. But this is the pink nine period moving average is really not even close to turning positive. That just says to me it needs a little bit of time. It can make another H but this is a bigger one when it starts to make the bigger ones. That's really important because that's telling you whether or not there's enough talk that goes to momentum. Talk is one thing. Talk a good line is one thing. But momentum is another and this is just talk right here. This is where you slap it into first gear in those people who know about gears. Slap it into first the answer of automatic or low gear and then you have to handle when it reaches a certain speed you want to hand it over to the momentum of the MACD. Well the momentum of the MACD look what happened here when the torque failed in the stochastic at back in July at that peak E and then it just started to accelerate down. It handed it over to the torque the momentum of the MACD. So you haven't even got the torque yet of the stochastic. So I'm just saying talk is cheap. Silver's different. Silver's already followed through and you've got the nine period crossing positive. You've got the MACD much better. Stochastic's already over 80% at 83%. So any pullback for subscribers I will probably be looking to to to get a position for some way. I like it very much. Now how can you like one and not the other because this is that bifurcation that we're talking about. There's a different personality in silver to go down. It's only up forty four to the chart as we go out to the break. Is that an Eiffel Tower. A yep Eiffel Tower 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 Keg stats Tiger forex report. Teddy Keg stat 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 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 dot 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. 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Watch online at TFNN dot com or on TFNN's YouTube channel and become the investor you were born to be TFNN educating investors. Don't forget you can listen to TFNN live on your mobile device 24 hours per day. Go to TFNN dot com and hit watch Tiger TV. That's TFNN dot com and hit watch Tiger TV. Hi folks so there's a pattern that I was trying to explain but I couldn't do because I was doing my show at the same time. As that popped up I see is this going to be a single leg to the upside but then I noticed that there was a peak A here and then went to B but it has a characteristic after an economic news reported 8 30 this is not this is that this is because of Jackson Hole and the Fed speak. Can we have a pop up so look at this these are the techniques in my webinar so and there's still there's plenty of time my webinar that I did on Wednesday night discussed all these different patterns look at the symmetry count the bars 1 2 3 4 5 6 7 8 9 to the upside 1 2 3 4 5 6 7 8 9 to the downside and hits that low of 43 right there 43 9250 that was a 1009 it hits it exactly right there so these are techniques that I discuss it's the three things that this is my own technique I called the Eiffel Tower a pattern failure we just say Eiffel Tower we most of us now know exactly what I'm talking about when I say Eiffel Tower means straight up and straight down and it looks like the Eiffel Tower little bit maybe more pyramid shape than Eiffel Tower but look it went to a peak D in the chapter methodology peak D is in the in the 10 minute chart is that's where other things can happen objective is get you from a bi signal to a bi mode meaning it should go to at least a D but I went to the D and then it failed so this is a I'd said just in the den this morning to a question I said we've already we've had the first part of the morning actually it's usually broken up into about five segments but we've had the first part the next part comes at 1020 where will we now be at 1032 so 1020 right here you saw that was that was a top just before about 1018 and whoops we come down then I said then there's going to be an assessment of what Powell said and then and then so that second part is a 1020 and then around about maybe 12 to 1 o'clock we get another part of the session and then we get the final hour in this final hour those weekly charts it's imperative that you monitor them very very closely because how we close is going to tell me whether we have a chance of getting cell signals in the fabulous weekly charts of all these indices right with that said let's go back to our story and I wanted to show you something that I think is it's kind of important at this particular stage so I had a question about the TBT it's been a great great trade for me what do you think now so this is made a little doji candle peak F in the Chapman wave there is a left side right side price time match which takes you to about another couple of weeks into September that says the 39 well first of what it has to even get before we can go to 3922 the high of last October and October is where we actually went long many positions that down in particular still have that position in the diamonds so look at this and that week in the 25th of November at thirty two ninety four thirty two ninety four that's the next lower high we haven't reached that yet that's thirty when I said was thirty seven ninety two three point seven nine two in the yields right ultra-short beam and twenty a treasury bond ETF so that means this is still in a buy mode in the weekly chart today he says much it closely I'll do the same thing with the university TLT but in the monthly chart it's not a fabulous run but this is only a new great leg a that previous peak D saw the nine-period moving average whole fabulously all the way through this digestive phase in 2023 and therefore I can't put it down arrow I have to wait and normally this kind of action says have patience because either you're going to make a high that'll see a candle I mean an arrow that goes down meaning yours are now on the way down or you fail right here in this dreaded H pattern this is actually gray leg B right now there's a USB gray because it's the main stochastic still very weak Mac these good but I need to have a full complement of technical indicators confirming there's a buy a new buy mode so this is a balance and it's going to be more than a balance if it gone as strength if it goes above thirty six was that forty four was at the high let me just check with the high was in a TBT 30 now that's wrong there is 3654 3654 if there are two closes above 3644 next week that would say to me yields let's go to the 10 year t and x dot x yeah that means a 10 year which also went to a peak after there's an alternate count because the technicals are still the nine store very strong so I'm going to call this F slash B meaning I don't have confirmation yet that it is an F and you got to be really careful because it's about to take a dive and that just is yours are still going higher but forty three thirty three was the high back in twenty twenty two four point three three three D now we're looking at different prices we've already gone to the forty three what I say forty did I do actually give you a price now forty three sixty two so we've gone above that now so many charts have made these double tops and double bottoms and then the reverse very sharply is this the case that we're about to reverse very sharply in the 10 year yield well the question for me is a non-question because I'm just going to let the nine period moving average play out look at this here we go look T and X T and X dot X look it went negative just briefly since they turn up back in May and only for a couple of about a week or so it was negative announced back to green I can't fight that look at the TBT it's getting closer and closer to pulling back but pulling back is not going negative so we look at just a phase in the nine period moving average the black 14 period moving average is actually rising a tad I don't want to fight that look at the TLT the TLT is trying to rally but that pink nine period moving average isn't even getting close so all I'm saying is let them walk don't get carried away with the Fed blah blah blah I don't there'll be one maybe two times in decades that I can actually recall where a Fed a major Fed announcement coincided exactly with a low or a high once the trend isn't in place it just kind of stays that way until it wears out and it changes this trend no matter what the Fed said done Fed is finished now let's go on with the whole bunch of questions ago could I look at Apple so Apple had made it's a waiting for Friday's close at four o'clock Apple has got in a cell mode in the day at daily it's very closed I've already put that in the down arrow because for three weeks it closed under the 14 period moving average I just need to know with the cell signal in the weekly chart first one I've had ages is going to go to a cell mode I think it will thinking is not the actual act so I'm waiting for Friday's close and probably Monday's open but my thinking is that Apple's in a digestive phase oh it doesn't need to say it's in a correct and it just says it needs at the time Amazon Amazon's a little different but it's in the process of digesting weekends I'll be back down only up to 50 cents with rising inflation rocketing interest rates of all to dollar an uncertain market there's an asset that all trade is flocked back to gold however these are regular times also mean a regular gold market which presents its own unique challenges this brings up the question what moves the gold market this is a question I'll be answering in my next live webinar on August 30th from 4 p.m. to 5 p.m. I'll be hosting a live free webinar for all those who subscribe to my newsletter the gold report the gold report has been in publication for over two decades and I've seen just about every market gold has been traded in this experience lends me great insight when trading gold and other mining equities and now that insight can be ours on August 30th I will deep dive into gold bonds in the dollar where they are now how they affect each other and what to look for when looking to set up a trade additionally I will provide a comprehensive breakdown of the XAU HUI and GDX as well as cover individual what gold equities and answer questions live on the air subscribe to the gold report today so you don't miss this rare moment bold TFNN educating investors are you ready to take your trading to the next level introducing Tom O'Brien's award-winning newsletter market insights your key to successful active 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NYSE American and TSX under the symbol VGZ so I had a question yes the 10-minute chart went a couple of miles ago went negative when pink of the E-mini and it's that way and the pink one minute chart I'm saying right here when panker right there at about 4405 and there we are 4385 and it's still pink so that's a great great we're looking at trends meantime and I discussed that in my webinar that you can go to you become a subscriber you get my newsletter and you get all the various webinars I've got on the page really is a great learning experience now what's interesting is for two positions we had this week that we we had great gains on small positions and we've tried to get in and I wanted to get in on these two particular kind of AI related stocks or robotics but we went in I had a pretty tight stop on one and not as quite as tight to stop as I wished but we got stopped out and that way it was acting lousy then it acted quite nicely but for me it's a real big test to say once the tide has turned do you go to long positions and unless the long positions are in areas that are completely differently related to the general stock market because if you're looking at stocks that's they kind of move together if you go to sectors energy or whatever it is like we have uranium stock different different areas they can go against that tide because they've got the own inner tide remember we're looking at tides and my webinar discussed you can have in fact I'll try to find it if I have a chance in the next break I'll pull it up because I think it really describes each different tide you can even get a riptide today we're seeing riptides up and down up and down so I don't know if I'm going to go for long the long positions now because it's one of the one that we got in yesterday acted the day we got in and it had a great gain and then by the end of the day it gave a chunk up but we were still up and now it's down and we got taken out and it just said to me that's an area that I'm not going to touch but it's also telling me that the invidia was much more than a fed climax that was a climax of look here's amazon amazon's flinging this huge gap I mean that's a gap that goes from the hundred and twenties and hits a hundred and forties and now we're at 131 the weekly chart still looks fabulous but that daily chart is saying I'm kind of struggling here and if you look at um Microsoft in the same category Microsoft the the daily chart is in a cell mode it had a good rally yesterday gave it back acting quite weak today the monthly chart is making lower lows and lower highs except for this week was made a slightly higher high and we don't know where the close is going to be all I can say is there's a digestive phase going on and if you're looking at the tide the tide of the deities almost all of these are really the seven major well actually now I should go to google because that was actually much better googie google that weekly chart leg D it's just pulling back from that my weekly daily chart went to peak A this is an F slash C I have to put the alternate count in I don't like to do that at times because this is well wait a minute F says whoa be careful she says hey buy the dips no the point is that the way I'm counting it says we are at a peak F the tachycles are still okay they're not great they're okay but I have to consider that this is a continuation pattern from that peak D at 129 53 back in June um because that weekly chart is still showing such a strong nine period over the 14th that this could just be a continuation pattern my eye says are you kidding everything about this says that google should at least pull back and pull some of the gap in the 124 area so that's the way I'm looking at this is this is a alternate count so it's still holding pretty well what was the other one that I had a question about ready to go oh if I could just do FXI FXI is this China has your Eiffel Tower or inverted V shape pattern yes your bar symmetry look at this you go from this low right here back in early July to the exact high peak D right there then you go click change the don't change the color keep the color go click put it in and we went to it held under it went up and now today we're going underneath it so all I can say is there's a trend going on right now I don't want to fight the trend uh we are short the dowry short the s&p we've got some just to we're actually now in the best cash position we've been in for quite a long time I'm gonna say that there's a good chance that as we're looking at this phase right now cash is a good place to be I'm not saying cash is king because if you're not in trades that are working that's not good but there are a few trades that are working in the matters the other one that are working in the sense that they just quietly making higher highs and higher lows there are so many stocks that have reversed down now the dow is down 56 um there's your dreaded age unfolding now in meta because beautiful up channel hey you know since I was since I did hand charting with pencil and graph paper engineering graph paper and a ruler way back in the 1980s right up until uh 87 crash uh yeah the 87 crash and then sooner off of that yeah I even did that for the 1990 Christmas Christmas 89 Christmas holiday going to the first of the year I think it was 1990 with the jet with the 90 but I don't trade station I must call that I didn't have a chance I must call them and say hey where where are the other indices how do I why how can you have a service without the other other maybe there's a place to get I've been asking them so far they haven't the person each person I speak to doesn't anything about it but there must have maybe someone who's using trade session given me I'd love to have it actually I said I'd love to have it I better not have it otherwise I'll end up charting those things as well we don't need to the US market is tough enough you don't get yourself so FXI no it's got a problem I met her right now got a problem it's about to test and maybe break see you don't have to have an up channel drawn in like this you don't need the do I need the base line no I don't need this base line I've got the 14 period moving average it's way better it's more informative this is just the line the chart doesn't know that about the line the chart does know that it's made up of a 14 period exponential moving average so that says to me if next week uh matter uh Facebook if Facebook actually starts to trade in the 253 areas at two uh two six two eight I'm sorry I meant 263 area I could even say 273 272 to 272 to 269 if it touches that even touches it just once next week be really careful because now you've got your magnificent seven reversing upside down seven all right so with that said a question came in um yeah nice meta peak f is actually a peak g in the daily peak f in the remember I was the notation is just to help you it's very important on the way up in the Chapman wave methodology on the way down I do notate as much as I can it doesn't have the same it doesn't have the same meaning it's important to give information that it doesn't quite have the same meaning because I used the peaks on the way up on the way down of what happens very often is that you get old um you get the technicals that really give you the information that you need all right I'll be back to dows down 29 is to be down 11 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 with rising inflation rocketing interest rates of all to dollar an uncertain market there's an asset that all traders flock back to gold however these are regular times also mean a regular gold market which presents its own unique challenges this brings up the question what moves the gold market this is a question i'll be answering in my next live webinar on august 30th from 4 p.m to 5 p.m i'll be hosting a live free webinar for all those who subscribe to my newsletter the gold report the gold report has been in publication for over two decades and i've seen just about every market gold has been traded in this experience lends me great insight when trading gold and other mining equities and now that insight can be ours on august 30th i will deep dive into gold bonds in the dollar where they are now how they affect each other and what to look for when looking to set up a trade additionally i will provide a comprehensive breakdown of the xau hui and gdx as well as cover individual what gold equities and answer questions live on the air subscribe to the gold report today so you don't miss this rare moment gold tfnn educating investors everything in the universe is governed by the fibonacci sequence this mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market to stay on top of stock patterns you can take advantage of sign up for the fibonacci 24 7 newsletter at tfnn.com when you subscribe you'll get a weekly report from veteran day trader larry pesavento on stocks you need to pay attention to and you can trust larry's analysis after all he's got 45 years experience as a day trader larry will also provide daily charts videos and data on the key markets that he's tracking expect notifications from larry on market movement you need to act on at any time first time subscribers also get a 30 day money back guarantee if you're not satisfied let us know and you'll get a full refund within 30 days of signing up subscribe to the fibonacci 24 7 newsletter today tfnn.com educating investors don't forget you can listen to tfnn live on your mobile device 24 hours per day go to tfnn.com then hit watch tiger tv that's tfnn.com then hit watch tiger tv yes so let me just see if i can find this quickly oh can't find it oh man oh first of all let me just show you this chart i show this i do this in my web my cd book introducing the trap wave methodology back in 2005 identify the trend and then trade with the trend it's tough to do but does this look right you see the arrows pointing down the prices does that look up you see the prices going down the arrows pointing ah ah this is what you want to be doing you want to be trading with the trend so right now the tide has changed to down i have to and and and now you can have quick trades absolutely you can go counter trend you know you're playing trying to counter trend but now i'm saying to myself i think it's proved itself that within the context of just so many factors that you can see what i'm trying to do here where did i have it oh man i think it was right here at the beginning i'll find it but most importantly patterns are consistent amount of time frames oh no no no all right i'm not going to be able to find it so even more important that anything else is that the tide for me has changed to down in the dow the tide has changed for me in the smh's and the other indices are following at the close today i'll be able to gauge whether i've upgraded the weekly charts and that's going to be really important why because in the weekly charts what we do find is that it takes a while you saw how long it took for the dow to cross negative in that using that moving average so all i'm saying is check out mobile call my daily newsletter if you get a chance a lot of webinars as well i did the webinar on wednesday that was an educational one and i achieved almost everything i want to do it's always never enough time but i have a great rest of the day and a great great program in coming up and promise god he's developing our company out