 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. Call now toll free at 1-877-927-6648 or internationally at 727-873-7618. Now Larry Pezzavento. Hi everyone, Basel Chapman here. This is the one o'clock show. I'm trying to fill in for Larry's not here today. Let me just see if I move. Yes, I can. So what we're looking at in terms of the market itself. I've been discussing in my show and for my subscribers to my opening call that this is the period that I expected some some form of consolidation to take place and the consolidation should see the Dow slow the leader S&P next. The QQQ has come after that. I'll just show you a couple of techniques just now so that we can get into the techniques as I'm as I'm running through the show. So I like to use narrow rectangles and large rectangles. And what I was talking about yesterday, I was saying from Thursday. Let's pause Thursday. We've been I wonder if I've still got the chart if it goes back long enough. Yep, it does. Let me see if I can squeeze a close. Yes, I can. No, I can't. Yes, I can. So you see this narrow this narrow rectangle between 4155 in the E-mini contract started at Thursday after the close and a low of 4130. Look how long we've been in this narrow range. This is now Thursday evening, Friday, Sunday night, Monday, today's Tuesday, and we're still with it. We're at 4118. We've broken to the lower part, but look how long we lasted in this rectangle going to I want to go through the chat. We've notation just yet. We went out of it, which says that this dashed line, which is the midpoint of the long narrow rectangle. If after that move outside comes back and takes out that support, there's a real good chance you're going to take out go towards or probably take out the left side low bar below and behold, we did that. Then we ran up to a quick peak ABCDE and let me just tell you for those of you new to my technique, I tried to identify the lowest low bar and then count each successively higher peak alphabetized ABCDE of G uppercase on the way up low case on the way down. There's never an H it's at the fourth highest peak when you've been upgraded from the symbol that you're following has been upgraded from a by signal to a by mode. It should go to at least a D at D. There could be a little quick E and then there could be an alternate count, but D is where other things can happen. That's where you can get your sharpest decline. That's where that's your objective and then you have to start a new series of analysis analysis. Okay. So we've just done that a number of times and then you broke below that trend line support to 41 30. You went under it. Now we're 41 17. You've just made a leg G to the downside. It's a 10 minute chart. So this could become a tough G, but then it has to be an alternate count. G says C. I don't want to get into all that other than to tell you that this particular technique applies. It's it's a fractal. In other words, it is a fragment of any time frame, any chart formation in terms of time. And so this is the one minute chart and you can see we have almost the same kinds of patterns. Say there's this pattern that I call the dreaded H. Let me show you a couple of things that I like to do. I like to talk about three core. There we are. Let me just move with three core patterns. I look for straight line up or down cup formation. Or arch formation and a mix of one and two or one and three. If it's it's red like this, it means if you pull back sharply and then you're running and you fail at a peak A or B, the first or second peak, take out that left side low. You can go a lot lower. We've been seeing a series of these right here on the left side right here. Series of dreaded H's that have taken out the left side low. This one's about to test this left side low. There's an easy way to draw trend lines. You just take the outer wicks and join them. Sometimes you have to go to the body of the candle, but I want to hit the most number that I can choose the minimum, obviously, and then I draw a little with it like 316. So a little narrow channel within this framework. And that says that's the inside track repellent zone in this particular case. That's the propellent zone. So what we're looking at here is that finally you get a little bit of support and the reason why I use the MacD and the stochastic and on balance one is that these little guys that give me really good turns, some of them give it to the exact low or the exact high in this particular instance. It's attempting to give one, but that's MacD is a little bit better than it was on that low. The stochastic is a little bit better. So this is the one that might have a little bit more of a balance. We'll talk about that. But within this inside track, we've got an inside track propellent zone and a repellent zone and it creates a channel. That's the one minute chart. Now I'm going to go to I'll tell you what I'm looking at here. This is to me. This is key. I use moving averages. I remember the first time I met Larry, we were giving a workshop down in Florida and he had given a workshop and then he made a joke and he said anyone who uses that I he named just off the top of his head. He said a hundred or 200 period moving average run like hell and there was this quiet in the room because a lot of people I'd already been with TFN for years. A lot of people knew that I use moving averages all the time. I consider the integral to the inner workings of the chart. You can use whatever you want. If you wake up in the morning and you open the left eye and every day you open the left eye first before the right eye and the market is up, you can use that as a tool as long as you're consistent and it gives you a really good percentage when I don't care. I've used these and I say the 200 period moving average. Do I need the 200 moving average? No, but I put it on the chart because when it comes you will see when I go through some of these charts how important it can be. It's like a magnet the closer you get to because it's a long look backwards 200 bars the closer you get to it the more the price seems to want to hang there and stay there. That's how important it is. It's like a magnet. Let me just see the question. Okay, so I use the 9 period moving average and the 14 period moving average. They've served me and my subscribers from opening Corwell for decades. And I had said with my experience that I'm I'm saying to you that the distance between this green 9 daily chart right here, the distance between the 9 period moving average and the 14 period moving average is so big that it's either speed or time that is going to get that 9 period moving average to go under to change from green to pink by going under the black 14 period moving average. And here we are even with a 213 point down day that 9 is still way above. So either says we are really early in this particular self because it's going to go into early May was going to say that somehow or other the stocks like an Amazon and I'll just show the put them up right now like an Amazon or any any of the stocks that are coming up with earnings this week and for some reason I don't have all the earnings in front of me. But yes, Amazon at the 200 period move. I didn't even know that I was just I pulled that up only because I wanted to show something. Look how important the 200 period moving averages it failed back in February right on the moving average got an island reversal to the downside and it's fading right here. I'll be back in a moment. Basil Chapman down to 42. You're right. 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 4x report. Teddy Keg stat breaks down the 4x markets every Monday using his 30 plus years of experience as a trading veteran of futures 4x stocks and options. Teddy releases his weekly Tiger 4x 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 4x markets tremendously when you sign up for the Tiger 4x report you also gain instant access to Teddy 60 minute webinar archive he just hosted 4x strategies and fundamentals what is behind the Tiger 4x report for all the details and start your 30 day Tiger 4x 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. 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 educated investors just like you Tom's daily market newsletter market insights is published every morning when the markets open to give you the competitive informational edge you need to succeed these newsletters are packed full of Tom's advanced technical analysis in our gear 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. The little Mozart overture I once conducted this very overture with an orchestra we're looking at the E-mini look when the pink nine period moving average went across from green to pink right there at about 10 o'clock this morning in the ten minute chart look how wide the distance is even when a deflected lower right there that peak a minus that failed with the dreaded H pattern look how it did and I just do in this inside track and look it plummeted right through in the last few minutes it does down 230 296 and there's to be down 51 so these techniques look how I can keep you in a trade longer than you'd even dream this is from 10 o'clock this morning so these are nice techniques now what I wanted to show you is this going back to the to the chart so Microsoft is coming out with earnings Google's coming out with earnings I don't know if anybody posted any others like zip I want you to look at that season Google let me let me just do this so Microsoft made a peak E but you see this vertical line right about the 9th of April you see how the Mac D was so good see the 9s way over the 14 you see that the stochastic was a little low than it had been but was still over 80% look what happened about seven sessions later on the 18th of April you've gone just underneath their previous high and we've seen double tops in the last year and a half so many charts they can go for a year or they can go for days but look at this 287 15 on the 5th for Microsoft to I made a mistake I should have said 292.08 on the on the 6th 292.08 and it goes to what 291.76 40 cents away from the previous hyper look at the Mac D how weakened is because the stochastic how weakened is because the on balance volume low than it was before but the 9 is still good so it takes time so from the high that was made took 1 2 3 4 5 6 7 8 9 10 11 12 this is a the yesterday was the 12th day then it took out the left side low of importance so now I can say that Microsoft on a on a daily basis I have to wait for the close today is probably going to be in the cell signal not yet confirmed with the cell mode until I see a pink which could happen tomorrow the next day depending on the earnings what if Microsoft bounces well I'm saying to you if Microsoft bounces with these technicals it'll be a balance is going to fail but it doesn't mean to say it has to collapse it just says that there's now tremendous resistance on the upside look at Google coming up with the earnings today or whenever it is tomorrow it made this double top look at that because a beautiful time sequence I look at the number of bars on the left number of bars I call it bar symmetry except it's not from a high it would have been from my except for that big gap up right there so the high that was made the doji candle I love to look at candles on the on the 1st of December at 102.59 for Google I go to Google I don't go to and I call it Google rather than Alphabet I go to G I don't go to GIO GL I go to Google itself the I guess this of this is the C share or something whatever it is yeah C share and then it makes this beautiful cup formation I didn't put in the left side right side price time match but I usually like to go to the arch on the left if or the arch on the right if it's a cup on the right if it's if it's a U-shaped pattern and that would have said I would have used this as a left side right side price time match symmetry and it went it would have gone almost exact or exact let me just go to that one I didn't go to the plumb line at the bottom I went to this one and let's see if that would work right there like that green green it is there is so these are the techniques I'll go through some of them I'll go through some of them in more detail but in the webinar that I'm giving to subscribers on a week from tomorrow I'll be discussing some of these techniques I'm going to be discussing a potpourri of stocks that we've missed on the upside that I really loved and that I really want to get into on the next big pullback so we'll have a whole list of things to look at so look at the time sequence from that high to that peak D remember the fourth highest peak peak D is where other that's your objective that's where other things can happen doji candle turnaround big candle a reverse chamois Roman candle inverse Roman candle takes out the left side low and there it is and comes down and what does it do it's two bars late and it gets to a slightly higher the fifth of 109.63 and now we're going to see because at this particular point it's stuck in the range but you can see the weakening of the nine period moving average but it's still green hasn't crossed negative don't dismiss that when it does then the 103 30 200 period exponential moving average which is gone above and then pull back below forever is going to be the thing to watch very closely if Google is able to hold a green nine period moving average and spike to 112 in the next four sessions that's not only going to be a help to the general market and the S&P but we'll see what happens if it can actually be a trigger for some of the other big caps and you've gotten to a peak D in the weekly chart look at the monthly peak G 152 10 February of 2022 alphabet plummets down to the 80s and now it's at 105 start a leg B oh no this is actually a leg C already oh it's not very strong but it is a leg C in the monthly chart so great peak a great peak B I don't like to make great peak C's but the Mac D is so weak and the sarcastic's only at 20% I have to call this gray I'm not changing the color right now but I am saying this one might take a little while to consolidate so this is how I like to use things and let me show you something even more important so we've been trading for subscribers we've been trading the upside of the we still have from the October lows the diamonds and the UDOW three times long but we are looking at where all the trading we stopped on the very short term because we switched from long to short at that peak F top in the S&P at 41 69.48 very next day we went short and we are still short via the three times short S&P not the full position but we've got a good position and what we're looking at is the double top right here in the weekly chart I'm watching the technicals there is still strength in the 9 over the 14 but it's saying hey be careful because if there's a follow through to the downside tomorrow because of the the maybe because of whatever high tech stocks or tech stocks are going to come up with announcements after the Bell or before the Bell that 50 period moving I only put it there because I don't need it until I need it but this 50 period moving average of 4053 that's going to be key if we touch that by Tuesday of next week we could be seeing 4021 being hit I drew this in I believe in the spy did I just yes yes I've done all the analysis in the spy I did this two days ago I forgot to show my subscribers to this I did show them on on Saturday my overview this is the type of thing we're looking at so here's the S&P today's key support will be at 4661 so far the lowest 406.97 this dashed line is a chapter we've inside wedge target support line on the way up it's green and dash and it's the target resistance line and this is saying by May the fourth there's a little bit yeah May the fourth it should be a test of this gap low or the gap high from the previous bar of 404.55 we're four seven points that he's getting a long way to go I'll be back Basil Chapman sitting here for the one o'clock to two o'clock out if you want to take advantage of this sector now is the time to subscribe to my goal report the goal report is a comprehensive look at the metal sector as well as the markets that move gold which is the currency and bond markets new subscribers get a 30-day money back guarantee so you have nothing to lose every Monday morning I published a goal report with coverage of gold silver bonds the XAU HUI JDX as well as more than 30 different mining 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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 Hi folks so we're looking at earning so I just noticed so we've got General Motors came out this morning General Motors is now down a dollar twenty nine I believe earlier I'm sure I heard it that G was up one half percent or something now that's three point seven six percent one of the things I was looking at is this lowercase h can turn into a lowercase m so the H if it holds the left side and better rallies if it takes out the low and close under the low then it has a limited upside if it goes under and closes above it says it could rally but probably to an icon or a gap or removing the average above but not to the high on the left side unless there's a there's a by signal that gets triggered in the technicals which can take it from an H pattern to a really powerful cup formation deep cup formation however sometimes it goes into a rectangle by going into another H pattern which is a lowercase m the H goes to an M well lo and behold what do we have here we have essentially like an H right here this is the dreaded H right there we're about to take out the left side low in the GM weekly chart you've got a bee that failed and now it's got a rally and it's going up into a potential H going to an M pattern and the same thing in the weekly and H that looks like an M or rather a large H so this is not so good you've got a Coca Cola came out was it yesterday then you just type that in here Coca Cola Coca Cola a fantastic move it walks the nine period exponential what a powerful medium this is look it breaks above around about the 19th of March in the 60 area and low in bowls goes all the way to 65 and it's still green even today it's done only 12 cents and it's gone through that cup formation with a leg D we're going to be watching this closely and the monthly charts got this pen at the this is triangle formation and has snuck out of the resistance area gone back into it's a Coca Cola defensive stock like G. I. S. which is general general mills gone to an G. S. C. which goes to a D right there. There's your second D. There's a chapter we've instant restart there and instant restart there and this is I'm calling this at least for now B but it could be an E slash B in the weekly chart we'll see how it's sustained but all the technicals are fabulous and a leg F in the in the monthly chart general mills so wait a minute. So we come back and we say OK so what else was there. Well McDonald's is in the defensive area ups McDonald's right here. I usually put a plus sign over the D. I'll put that here for for general mills and what do we do. We go to M. C. D. McDonald's Mickey D. And it's gone to a strong leg E but with a intraday reversal high of two ninety five round number high. I love these round number highs. It means that two ninety five if it closes above two ninety five in the next bar or two it's taken out. It means that you have to look for a new resistance area but right now that's the round number high and it's trading at two ninety five points lower but it's only a peak C a leg C in the weekly and a lady in the monthly so that longer term looks so good and then we got G. E. So G. E. had a fabulous move to lay F hundred two point oh one bomb. It reverses intradays now at ninety seven ninety eight point oh six ninety seven fifty five was the low but this is only a day Gaff you have to wait for the next session to be able to call it a peak. This is still what we call a floating letter until it makes an actual peak but wait a minute G. E. H. C. which is a spectacular spin off in December with G. E. spun off to G. E. health care Inc. and so that went from the fifties to yesterday's high in the eighty seven area and today it's plunging down nine percent at two seventy nine eighty nine but it's only a leg C. I better check this. That was a high it looks to me like is a penny higher is eighty two fifty nine eighty two sixty two three cents. So when I do the case like this for those of you who know my work I tend to be a little conservative and I say it might be just three cents technically this is B. right here but I'm going to make I'm going to make this a phantom peak C. saying I'm prepared to say that that is because there was a little hiccup in the unbalanced volume right there that could be a C. and this could be a leg D. and which would pertain to looking at this pulling back a lot sharper and I'm ready for it. We don't have it I unfortunately I didn't get into this before I for subscribers spoke about us but some of you I know did it but we didn't efficiently do it because I wanted both G. E. and G. E. health care but this next turn down says maybe for the webinar that we're doing Wednesday week maybe this is on the list as something that we want to buy. Look it did a beautiful this is Larry's A to B equal C to D. I'm using not to have chapter with notation but the lightning ball pattern where it goes up pulls back and then has an exact almost to the penny expansion to the upside one to one and now we're pulling back and yet the technicals were extremely powerful. They're still very good but they are deteriorating as we speak so we're going to be watching this very closely out of the tube between G. E. and G. health care. I think G. E. health care is going to be the one that has a longer term outlook that's very positive. Next question is A. L. B. A. L. B. yesterday I didn't have a chance to get to it. Sorry. A. L. B. is album while called specialty chemical manufacturer of bromine lithium. Well it took quite a tumble from the high that was made in just under three forty back in about November of last year is trading at a hundred seventy seven I would call that cut in half and it's a peak F. That's what worries me about this market that some of these stocks like this album while like a Dow chemical I've actually pulled back quite sharply here. They were leading and now they're pulling back and that's in an area of the market that sometimes pertains to the economy in a different kind of way than say the caterpillars et cetera or deers. So I'm watching this one very closely next question came in. Let me just see if I've got it written down here. Oh packaging core. I did no one asked me about this is one that I follow all the time packaging core which I consider to be a really good barometer because packaging. I mean you can't ship anything unless you're paying we ship something yesterday. I couldn't believe it. It was a large box but not that heavy. Going to Utah and it cost fifty three dollars from UPS. I mean wow. I mean it was worth more than that but not that much more than that. But I wanted to get it there reasonable time and all that. So anyway looking at packaging everything has to be shipped in packages and look at this double top right here in the weekly chart gets stored in this rectangle going to higher highs and higher lows which says that you could go if you make high high and lows off to a very short flag pullback. You could go to just on just under. Or just above the previous high and then you got to be careful not to take out the midpoint of the rectangle. Well the height that I'm talking about in PKG packaging core of America. On the ninth week of the 19th of August was a hundred forty six point twenty seven. Low ball went to a peak C at a hundred forty six point twenty four always missed it by three cents when I say just on or just under or just above then a pullback held the halfway marker and then had a retest yesterday's high was a hundred forty five point seventeen. So there's peak C one this could turn out to be peak C two if there's a pullback look at the gap down. I mean that is it's actually an island river. I believe that's almost an island reversal. It's trading down eight point thirty eight. I'm not happy about these things down five point seven percent at one thirty six fifty packaging core. I'll be right back. That was down two hundred and eighty seven thousand chapter. This is the one two o'clock show. You can do the tiger. 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 T F N N dot 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 returns finding the peaks and valleys and stock prices get the opening call newsletter by Basil Chapman and 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 T F N N dot 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 T F N N over 20 years ago to help educate investors just like you Tom's daily market newsletter market insights is published every morning when the markets 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 T F N N dot com T F N N 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 L A B U or L A B D directions daily S M P biotech three times bull and bear ETFs visit direction investments dot com slash biotech today. An investor should consider the investment objectives risks charges and expenses of the direction shares carefully before investing. The prospectus and summary prospectus contain this and other information about direction shares to obtain a prospectus or summary prospectus please contact direction shares at 8664767523 the prospectus or summary prospectus should be read carefully before investing. An investment in the funds subject to risk including the possible loss of principle. The funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor for side fund services LLC. This program is brought to you by Vista Gold traded on the NYSE American and TSX under the symbol V G Z in the break. I was just all over the show because I had questions that have come in and such as sorry I'm just going to go on from where I left off Apple Apple comes up with earnings. I think in the next within the next week. So is trading very well. Look at the nine others the daily chart the nine over the 14 really good. It started to weaken but it still looks great. The MACD is the moving average convergence divergence has deflected lower the on balance volume and gave that exact top reversal. Look at this right there. But the price really hasn't reversed very much just to cast sixty nine percent I like eighty percent. I love over ninety percent. So this is saying we've got some technical deterioration and the on balance volume is pulling back after being overbought at that level. And what I am looking at is that from the high that was made at the G slash C where you get an instant restore you get you get an alternate count. And then I went to the D. This right here on the fourth of April at one sixty six eighty four. Look at the technicals are strongly warps. Forgot I didn't sneeze during the last show. So I'll do it now. We've got the apple technicals on that day early April was fabulous by the time it got to about the 18th or 19th where was that? That was on the 18th I think it was on the 19th on the 19th when he hundred sixty six hundred sixty eight point sixteen about two points higher the MacD was deflecting lower the stochastic the on balance volume spike but it was lower than it was before the stochastic was at about eighty two percent which is much much lower than the eighty six or seven percent and wasn't it before and the and the relative strength of the little gray line here the daily chart was declining. So that's saying that Apple needs to have price dictate the trend because the technicals have already failed. The trend can change if the technicals start to improve and Apple for whatever reason takes out the high of a hundred sixty eight point sixteen on a closing must be on a closing basis tries for a hundred and seventy in the next two weeks that'll say fabulous action because the weekly chart has been breaking out over the chat we've inside track repellent zone. I mean just you take a straight line. You know there's nothing technical here. You take that straight line. Yes, it's a chat we're falling exclamation right now. I want to get into it right now. There it is right there. But that's not the issue. The issue is that the Mac Dean the weekly chart is is very strong. The stochastic is eighty nine ninety four percent that is fabulous on balance volume is weak but the nine is way over the fourteen. That's giving you temerity. That's giving you some strength. That's giving you the veracity to say Apple is holding extremely well but it is bumping into the chat we've inside track repellent zone in the monthly chart. What would change that when this changes from you remember the pattern we were looking at when it changes from this low lows to lower highs all of a sudden to higher lows and higher highs and a cup formation that would be really positive. I like the child of Apple right now. I'm thinking if you're looking longer term the next pullback on Apple might be a nice way just to enter a small position and you can build on that if it starts to make higher highs and higher lows because it's held so well this might just be early in the whole cycle. So I'm saying this is not the place to do it. I would have to wait for verification and if there's an arch formation if Apple by Thursday today's Tuesday by Thursday if it's closed under one sixty two is probably going to test the one sixty low is actually one fifty nine seventy eight although that was made on April the 12th. That's why I'm looking at that now a couple of things I drew in as we were talking I drew in this rectangle formation. Why did I do that because after years of doing this these charts I know that a massive move down that doesn't have strength to go peak A and then peak B and tackle all the left side ugly candles but stores in the big candle on the left is going to go sideways and you're going to go from an H if you hold the left side low which is done the one-minute chart of the many. It can go to a larger M shape pattern. So don't be a don't don't think that this is now the rectangle stalling and then it can go back to the upside. I'm saying this I've seen this pattern before and what happens is remember I was looking at this here. I never discussed it. I should have discussed it. Sorry. I was looking at the ten minute chart of the many and what I do very often in the H pattern when it's really want to stretch out when it takes out the left side low be careful because you can get a one-to-one expansion. There's your one-to-one expansion from that high to that base level in the one four forty one thirty area to the downside. Well, we did that perfectly and then we went to peak a Truff A doji candle and then a sudden F and that was the test because at that particular point the magti in the day in the ten minute chart was still horribly weak. The stochastic was flat in the single digits on balance volume was turning down. So I was not surprised to see that wish to the downside. Now we've got to be careful because the one minute says if we get another wish to the downside you don't want to see a propeller shaft as we saw over there with this as the full crimp and the next move down to the forty point eighty three area and remember for those of listening to my show for the last couple of days. I've been saying in the S and P if there is a sudden move down that takes out 4088 maybe 4082 be really careful. Let's just go there and see where we are and that's the reason why we're short and staying short from the day after the high I try to my best for subscribers to get all the exact day of the lows and the highs we try not always successful but to the to the extent that we've managed to get most of them I'm happy about that. This is not may a major high but we did get at least this turn down and at least it tells you that you can now put your stop so that you guarantee a profit even if there's a gap up because it's just raised twenty-four hours everyone at least with the S and P futures the S B X S is the way we are going that trades all the time but you can see the technicals are still pretty strong in the weekly so I'm calling this a digestive phase it could go all the way down to the 200 period moving average if it takes out that 40 50 50 day moving average then it can go down to the 200 and once again we're going to see the 200 period moving average become the fulcrum for moves like a sine wave up and then down and then up and then down and it keeps coming back to 40 20 this is the fulcrum of this big move in the S and P both up and down and up and down so that's what I'm looking at and now there's a couple of things Merna support area so this is the daily charts I'll just change the symbol I'll go m r n a m r n a so Merna is Moderna this is the this is Moderna Inc. It's in the biotech area you know they were the successful COVID people went all the way to 497.49 in August of 2021 I think one of the summer here when did I discuss this if I remember correctly it was in the 80s and I was my wife I had to go to the mass I something other than she just needed to have a checkup so I took her there because it was have drops and then she'd have to she couldn't drive home so I said I'll come with you and I had my computer out and I'm busy sitting there with my computer while she's getting checked out and an assistant finally said you know I've been looking at you with these what are you doing there? It looks so fascinating I say I'm looking at something like a chance she's and then she told me the story I'll tell you the story as soon as soon as I return I wonder if she still has I'll be back if you're looking for potential trading setups in the stock market then rocket equities and options report is a newsletter you should try Tommy O'Brien delivers options and equity trades when the markets present them using a combination of fundamentals and technicals sign up for rocket equities and 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 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 the trading methodology known as the Chapman wave the Chapman wave up down sequence gives you an edge and identifying price turns finding the peaks and valleys and stock prices get the opening call newsletter by basil Chapman and 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 at tfnn.com educating investors 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 247 newsletter today at tfnn.com educating investors tfnn has launched the Tiger's Zen hosted at Discord tfnn has been educating traders for more than 20 years with live programming hosted by a variety of professional traders during market hours the Tiger's Zen available to all Tigers and Tiger's 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 just visit the front page of tfnn.com 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 It's just been flying by we're almost done so I'm just gonna say Moderna it's got this left side rights at price time action has another day to go to test the a hundred and thirty three six 50 a 66 low of the first of March my my guess is that that 115 area that was made earlier on last year that could be Tesla or it might stop right in between so 127 right now is gonna be really important shorter term support from Moderna then FXI I saw this earlier in my show and I forgot to do it yes FXI is coming down same thing this is the I share China large kept ETF big arch formation coming back down dreaded H pattern it better hold 27 otherwise that 25 area is gonna be lurking very quickly so the question is where do I see all this going I'll do more of this in my show tomorrow at 10 o'clock in my Tiger technicians hour but as I see it right now 33 thousand 300 is absent 500 is the key support we're reading the 500 the next level is 33 thousand see what happens with the nine period moving average because if it's taking its time this can last into next week so I I just I don't want to guess right now I'm just saying yes it's accelerating lower but the nine is still way above the 14 in the nine in the in the Mac in the the Dow daily chart so go one step at a time it does say that resistance is extremely strong strong in the 33 800 to 33 thousand across probably tell me junior from this morning and then Tom and Brian at three o'clock I'll be back with Tom I'll discuss a stock that we have for subscribers that is doing something completely different to the market but I don't want to talk about it right now talk about it when we get back together a little later on today meantime back in the round check out my opening call check out my my newsletter and check out my show the Tiger technicians our I think you'll be looking at some techniques that are very simple to use and it does all the work for you you just have to interpret I'll be back in a little while otherwise you tomorrow at ten pencil shop and signing off the dollars down three hundred and eighty have a great rest of the day