 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, Tiger Technician Hour 877-927-6648. Love to hear from you. A lot of things to talk about this morning. Number one is, within the context of bar symmetry, and I spent some time on this in my overview over the weekend, my video for my subscribers in my opening call, showing it, discussing it, showing the inside track channels that will all support, but a lot of things are not falling into place for a low that is a really big tradeable low, a short-term tradeable low. Yeah, absolutely, you could get that. But most importantly, what we're looking at here, and let me just go through this. I see that I'm a little slow today. I'm trying to remember, was it Dan? I had an email some day when I have trade sessions. It doesn't happen often, but every once in a while, when there's just incredible buying or short covering, whatever it is, at the open, my platform goes a little slow. It doesn't happen that often. It never used to happen much at all, but now for some reason it's gone back to doing that. So if you had sent me what to do, I thought I recalled it. I put your email aside, and now I've put it in such a safe place. I can't find it because it's not amongst all my papers. So I've gone through everything this morning. I thought I'd find it just how to resolve that on Trade Station. It did work that time that you mentioned it to me. So if you're listening, but if you are listening, you could send that to me. So I had to switch to a particular mode. I think it was different speed. So here we are. We're looking at 516 on the Dow. Huge big pop-up from that horrible action on Friday. But the Dow's action was not as bad as the other. It's still got the slower case. I'll show this in the market update. Let me show this again. So there's a pattern that I call the lower case H goes to a lower case M. Market comes down sharply. Rallys fail to the peak A or a B, and then that's the first or second peak after the low. And it comes back and retests that left side low. Well, the big thing is it could rally after that, and that rally has to form a cup formation by closing sharply above the arch high. And if it does that, you can go from a very negative dreaded H pattern, that's the lower case H, into a very positive U pattern or a cup formation. So if it stalls, you can go from a lower case H to a lower case M, just yet another arch formation to the right of the first one. Well, it's going to be really important by Tuesday or Wednesday that there is a close above 30,454. There wasn't one on the intraday high on Friday. But if there can be a close going towards the chap weight inside the wedge, this green, I usually make a dash. But just so that you can see it better, I'm looking at a Tiger YouTube. Yep, it'll be coming up in a moment. That'll usually make dash light. I want you up there it is. I want you to see it very clearly. So that says, at least in the very short term, it should be a rally towards this trend line. If it's today, you can go to 30,500. If it's tomorrow, it goes a little bit higher, 30,600 in the Dow. Not the futures. This has to be the cash made a lower low at 28,660, just about 50 points off the low that was made back at the end of September. And now you want to see the cup from look, the magnies improving. The stochastic is finally up in the 56 area. Unbalanced volume is having a terrible time. It's just flattening out. It isn't positive, but it isn't 100% negative because it is trying to make higher highs and higher lows. So that's not great. But look for the first time, and this is the reason why I said to subscribers, we're going back to the long position, because this is so important that the nine-period moving average, right there, you see the little pink line in the daily chart, just underneath the black line, that's the nine-period under the 14, if that can close positive, then we finally have the momentum. We have the stochastic producing the torque, and then the MACD and the nine-period moving averages will continue with momentum. That's important. If you look at the weekly chart, we went just above the Chapman Insight Track Propellant Zone for three sessions. We were in that area in that 28,700 area. Now we've popped up to the nine-period moving average. Look how long it's going to take, how much it's going to take and time and price to get the Dow to move sharply enough in the weekly chart for the pink nine-period moving average to cross the 14. So this is all a work in progress. It did it just very briefly in that big move up that went to that high that was made in August at 34,281, right on the inside track repellent line. I mean, how these are technical aspects that are so consistent and so easy to do. I mean, you don't need any big software package. You just join the lines. So that's important. Now we have gone to a leg. See, I'm not going to talk about it today. Maybe I'll get to it Tuesday or Wednesday about the monthly charts as we get closer and closer to the end of the month, but we're not there yet. We're only halfway into the month. So here we go. S&P did the same thing. Now I'll do this on the S&P. I should have done on the Dow, but I'll do on the S&P. The load that was made back in, let me just drag this across. Look, I always talk about this. Boss symmetry to me is just absolutely, it's a phenomenon that defies, you can describe it, but it defies an explanation in a very commonsensical way. Why? Because I've always said that although a lot of people disagree, saying we come down much sharper than we go up, I say, no, look at this. June the 17th in the cash S&P, 36, 36, 87 was the load. And it took you X number of bars to get to 43, 25, 28, the high two months later on the 16th of August. And look what happened when you came down, you came down in a slightly quicker timeframe, but look at the pattern. The pattern didn't have this big crash red candle going to the load. It was just a steady move down and on the, I think it was September the 30th. Yeah, September the 30th, you go to 584.13. So that means you were about six sessions early. So yes, it was a little quicker, but there wasn't a crash pattern. And then you had the sharp rally to about the 3,800 level. And then you took out the left side low and the dreaded H pattern. You went to the 34.90, 158 low on Thursday, on Wednesday. Thursday, that's spectacular. Now that was on Thursday. Friday at a higher high, and then you pull back very sharply. And today you back testing above the 14 period exponential moving average. All of this said to me that this pattern can now go to a cup formation. And the cup formation says, and I'm being a little aggressive here, I should have moved, I'm going to do it the way it should be. I'm not going to go to this candle right here. I'm going to go the little doji candle right there, right there. So that'll say from the left side high, around about the 3907s, I'm looking at dragging this across and getting to, that's it. Getting there. That's a little too aggressive to my eye, but this might be a very surprise move to the upside. You just wash out all the balls. So now we're going to the right side and that drags me across. Oh, I can't even get there. And that says by, oh, that says by the end of the last day of October. We should be up in the 38, 20 area or higher. But 39 or 70 is a positive. Vista Gold owns and operates the largest undeveloped gold project in Australia, the Mount Todd Gold Project. Vista Gold just completed their feasibility study resulting in a 7 million ounce gold reserve. Vista Gold has all major permits approved and has retained CIBC Capital Market Assistance in evaluating alternatives and in completing in a creative transaction. Vista Gold trades on the NYSE American and TSX under the ticker symbol VGC. Vista Gold executing a strategy to create shareholder value. 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 markets open to give you the competitive informational edge you need to succeed. 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I'll lay E in the 10-minute chart but the most important thing I wanted to do I should have started with that. I didn't want to. I just wanted to go through our formula that we're looking at. So there's a beautiful left side right side price tie match to this particular low right here. Oh I didn't. I did it in my other Dow chart. I forgot to change it. I had changed it some time ago. I wanted to be more conservative and then I said okay let's just see what happens if I'm not as aggressive. So let's go all the way to that low right there on the left side. There we go. And now we're going to... That's green. This will be pink because it's coming down. Same thing. Look at this. So we go to the right side. Drag it across. There it is. And that goes to right there. Look at this. It goes to the low that was made in 269 on the QQQ at 269.28. Got taken out on the right there. On the 30th of September at 267.10. Then it bounced and then went to a low low to 254.46. But look how it's holding so nicely above which have my inside track propellant zone. And now we can say there's a chance that you've got yourself a cup formation. And if this rally persists into Wednesday, Thursday I'm going to be a little aggressive here but I'm going to say the trend line I'm looking at because I haven't been able to... I don't want to move the... I don't want to make any changes right now but it should take you to the end of October. It says by the end of October, if the QQQ this week sometime takes out 278,000, another nine points higher, takes that out then we're looking at the 284.18 left side high as being some kind of a target in October. All the time saying this particular instance it says it's called 260 as key support in the QQQs. So what I was going to do at this particular moment is and here we go, moving us to the left. That's the daily chart. Here's the weekly chart. Just the arch formation, reversing, becoming a cup formation. I love the way the sine wave works in this case in a diagonal momentum and goes through arch formation and now you're potentially at a trough D trying to start another cup formation and that'll succeed in being at least and not just as we haven't even attempted it right now because we ever made a higher high than last week but that'll become a great leg A and certainly above the 286 level in the... this is the black 14 period exponential moving average you'll start to get towards the major resistance which will be out at this channel wave inside track repellent zone and that goes all the way to 299. So oh I mean we're talking numbers now that just sound out of sight of course on the way down we just did that in four weeks but I'm talking about a steady move up and one of the reasons why I'm talking about this is look the VIX index I spent three weeks now talking about the VIX index I actually want to talk about three weeks it's over five weeks saying if we get back into this inside track declining repellent zone in the weekly chart of the volatility index it will be really important on a closing basis if we closed above that green trend line and that's the outer limit of this declining trend line which went from 3779 back in sorry 3894 January the week of the 28th of January 3779 the week of February the 25th and and a beautiful I mean you couldn't draw it in more perfectly than this and it went above it at 3488 the week of September the 30th the week after that it was a chapter wave Roman candle but we have not closed above it usually I say with a Roman candle you got one session the very next session if it goes halfway into the week that very session should take it down to the long-legged wick of the Roman candle it should take out the left side low but if it closes above that you've turned the closing price into a support level but if it doesn't close above it be careful because that same thing applies and in this case if at any point on a daily basis there is a three-hour window where the VIX index is trading under 30 point I'm going to be as accurate as I can 30.30 just to be safe let's say I prefer to see it under 30 in the 29s but if it goes to 30.30 there's a chance it's probably going to go to the 29s that's going to suggest very strongly remember I'm looking at a weekly chart that the Dow this is based on the New York Stock Exchange I don't I don't I don't get the New York Stock Exchange you know in trade stations someone let me know if you can get it I've called them up and they say I just haven't been able to find it maybe the person or people I'm speaking to you don't know it but it just disappeared look it used to be NYA.X and I've got it right here but it only goes to 2020 it goes to June and that's it I mean all I need is the chart that's all I need but anyway I don't have it so if the VIX index starts to decline and today's are going to be a test if it holds very steady it's at this point it's a 31.16 if it holds in the 31s let's say hey hey we might be running but there are a lot of people out there still thinking that they want to short I don't know why but you know this is getting to a little hazardous to your health if you're and wealth if you keep shorting because there's like there's a real good chance that we've got at least a short term trend change going on here all the all the index look at this the Magdeus stochastic made higher lows on this recent pullback and as exacting it's acting exacting the way you'd expect I didn't like the Friday action but it wasn't as bad as say the QQQ so yes you got one index that was really looking very ugly at the close on Friday but look at this nice give back so you got green and red this is your sandwich effect that I like to look at how a green candle is has a red candle in the middle and then has another green candle or it's a red candle that has a green and then a red candle I talk about that as a sandwich effect it hasn't done it yet we'll see what happens by the end of the day most importantly the VIX index is saying that if the VIX index starts to make lower lows and lower highs instead of having a big bounce now to 3114 right on the 14 period exponential moving average which is held since it broke above about eight seven sessions eight sessions ago so if it starts to go under it what's this pattern I've had webinars I've had I discussed it I've had sessions again in this target technicians hour discussing this exact pattern this is the inverse this is like the dreaded H with a very big rectangle formation and in the rectangle formation the rule of thumb is if it starts like a flagpole if it pulls back sharply and then starts to make higher highs and higher lows there's a chance that it could go to a peak D in a shorter time frame look at that in a shorter time frame going just under right to or just above the pbs in this case 3488 where we get back out of notated the VIX index if he's up 95% technicians hour if you want to take advantage of this sector now is the time to subscribe to my gold report the gold 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 gold report with coverage of gold silver bonds the XAU 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 don't miss out on the next great gold trade sign up today 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11.15 on the 12th and now it's coming down should make in the next couple I'd say in the next few hours I don't see how it can do that but your support is at 30 it's trading at 31.10 just to get from the 31.97 level has taken a big big move up in the market to do that today is young and you still got to get a couple of sell-offs just mini sell-offs in the meantime so just as to me this is a little aggressive so normally what I would do is I'd go to that level but I'm going to be a little bit more conservative I'm going to draw this in right now these are all Chapman Wave techniques that I discuss in my webinars that I've done are there if you're a subscriber would like to subscribe I do those in hours and hours of webinars and what I'm looking at here is that this is a technique that I would use just what I do all the time and I pull it to the right and it says I make it pink because that's on the way down and it says if you're looking at this as an indicator it says buy the 7.715 on the 20 on the 18th there could be a test of this low right here let's go one step at a time first is 30.29 and the next is 29.88G I don't know if that still looks aggressive to me but that's what I do and you're making lower lows and lower highs basically and that just says yep there's a good chance this isn't an accurate way of looking at it my plum line that's this midpoint is right there at PG look at the difference between that high where the technicals were very good and then it goes to a higher high with weaker technicals but until that nine-period moving average moved underneath the 14 you didn't have a confirmation of the roll over now you've got it and in the daily chart you can see we went to a peak D that's your flagpole sharp pullback holds at about the 28.20 area and then runs all the way back not to 34.88G 34.44G I think it was 43 or something 34.50G and so just underneath that previous high look the technicals here were much weaker than they were there and now we're going from the cup formation remember all the time markets are just doing one thing they are you know they are following the three patterns that I talk about all the time straight line cup or arch so the sine wave has gone from a cup to an arch and now we're looking at the reversal so we'll see day is very young we've just made an hour in a few minutes into the first part of the week Monday and the day is not just young it is very very young so let's do that so to me this is a major major signal to say between index index and the dollar which is now down a little bit is down 0.84 at 112.47 this is starting to have remember I talk about this red green red bars big bars I like to look at that as a sandwich the sandwich effect yes is that this dreaded H pattern at a peak A with that peak D at 114.75 in the dollar index suggest that any close in the next couple of days below 112 is really important but it's 111.83 would say hey there's a really good chance that you're making an arch formation doesn't say you have to crash and break under 110 21 or so but it does say you could be pulling back and that's going to help the market look what it's done gold is up 19.3 good move green candle but gold is under other stresses other other areas and often when markets are coming back any money that's been made in other areas like in gold gets sold just that's the way it is so for gold to really excuse me for gold to have a move to the upside that says I've changed my trend you basically have to see a trading for a good few days above this high and that's really high that's 17 what is it 38 1738.7 in the continuous contract and it's now yeah it's a 16 that's called a 1670 I mean it hasn't even broken above the 9 or 14 period moving averages a lot of work needs to be done let's look at silver silver an inside day so far I'm going to look at the red candle on Friday yeah this is yeah it's also struggling you are USD you're a dollar currency pair a nice green candle green candle on Thursday red candle on Friday green candle today I'm watching this closely because at 0.980 if the your dollar starts to trading above 99.99 and it should do it off the law look how long it's been with the negative oh my goodness look at this since the 9th period crossed under the 14 back in the week of the 25th of June 2021 not once in the weekly chart has the 9th period moving average gone green even now look how wide it is so this is a very important moment because if the dollar is going to pull back sharply rather than just have a little bit of a kind of a consolidation you would expect you'd expect that the euro would go much higher USDJPY look at this made a peaks I went through this over the weekend I really can't count this anything else than a peak C in the daily leg F in the E in the weekly and remember I was looking at this after that peak F back in July if you do the vertical test the stochastic is flat above 80 it's an 83% I think I said that's still a big positive so I can't say that there's a vertical negativity the vertical positivity and the 9 is still way above the 14 so that is just telling us that the yen dollar yen currency pair is still acting in fact it's even looking a little better than the dollar right now isn't that amazing so here's the dollar look at here's the dollar look at the left side chart stalling and here's the yen USDJPY there we go what a difference and the other day I said wait a minute the euro so the dollar this is the dollar Japanese yen currency pair and this huge candle it tells you you're trapped and you were trapped for over two weeks almost three weeks and then it broke out and what my reasoning with this particular candle is that if there is a close above the wick high then it makes the entire body of the candle good support if it goes underneath and closes underneath it means that any rally above any slide underneath makes this body extremely strong resistance well it's just walked the nine period moving not even the 14 since it broke above back in August around about the 23rd or so has walked the nine period moving average in the daily weekly and the monthly charts the 120 minute chart says it's only a little bit here and we'll see what happens I'll be back down for 542 S&P 96 we'll look at the GE 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 delivered 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 tfnn.com educating investors the technology around us is changing every day with so much happening it can seem impossible to keep up with all the information David White's investment newsletter the technology insider the technology that shapes today's markets and tomorrow's future David White has made his living staying on the cutting edge of technology his weekly newsletter will give you specific recommendations for value tech stocks as well as entry prices, target prices and stops to set for each trade Dave delivers his weekly newsletters every Friday with updates throughout the week you can get the technology insider at tfnn.com for only $37.50 sign up for David's newsletter the technology insider and get an inside look at everything the technology sector has to offer try it risk-free today with our 30 day money back guarantee tfnn educating investors biotech today this program is brought to you by Vista Gold traded on the NYSE American and TSX under the symbol VGZ so General Electric aircraft engines and other areas fits the category that I was looking at for subscribers the other day and actually what I mentioned here in the show that it's surprising to me and it's quite significant it's quite significant it's quite significant and it's quite significant that General Electric and of course this is reverse splits so it was trading the 6's and the 5's and now it's trading at 69 it actually hit it went over 100 after the split this is very important because the last high peak F under the 200 period moving average saw it slump from about 81 to 61 I mean that's a third just that move alone so this move up in leg B a gap up today with the 9 period moving average finally turning up is a good sign for a couple of reasons you've got your dreaded H right here it's not a dreaded H just a plain old H formation having successfully held the 56 low that was made back in july and then it ran so now this left side low is higher than the previous low that's a good sign the monthly chart doesn't look good but the weekly chart is improving because it's got this pattern that says this is exactly the pattern that has just the potential it doesn't say it's going to do it but it has the potential to form I'll just draw this in so you can see it an H pattern that's successful and then to holds and then turns around and makes a very very strong cup formation but that means nothing until you see the significant closes above the high that was made and that was the week of the 19th of august of 81.30 I would say 83 once you get to the 83 level that says you know what all this stuff now you probably aren't going to immediately test the lows you're going to try to test something on the left side and ugly candle moving average a gap a doji candle well look at this ugly ugly candle of the week of the 29th of April 90 round number high 74.35 low 16 I mean this is 16 point that's that's a lot in just one week so that says general now I'm putting it only I'm only putting it together I'm not saying oh fantastic look at this I'm saying it was very constructive in looking at this together with say a caterpillar which went from what it's already gone from 249 246 back in June 2021 all the way down to the 160 but it's gone from the 160 low of September to a peak D at 185 and now it's at 180 so why is Caterpillar acting just in the short term I'm only talking short term acting so well why is Alcoa same thing coming off of a low once upon a time was up in the 98 area plummets down to a few weeks ago in September goes to the 33 334 range and then bounces to 40 and now it's at 40.20 so there are some signs to say that more serious is buying is coming in and it might be very selective but it's just fascinating how it's coming and you don't not really see it in US Steel the SLX the Steel ETF and not bad not bad at all it's got that H in the weekly chart it's got a couple of declines I don't have oh I had it in US Steel I wonder if I've still got it gave me some real nice things to look at no I don't have it it's pretty about that so I'm looking at this and I'm saying there are some signs that some buying is coming in now talk about some buying let's go to the XLF this is the financials a lot of work needs to be done there's a spectacular move going from 29.59 to over 32 in just two sessions now it has to hold it and for this to become a really significant rally significant meaning the financials there has to be a financial spider fund I want to see it participating in any general market rally or even specific market rally right now otherwise it's the same to me this is very very selective putting that together with the IAI which is the broker dealer ETF which is really struggling up nicely today but look what happened to Schwab and it wasn't earnings oh even today look at this red candle made a peak D and I spoke about this that made a double top at 77.41 in August the 14th and a peak E comes down very sharply to just under 70 rallies to peak A, B, C and even goes to a D and at this D back on October the 7th or something whatever that day was probably a Sunday the 6th on the 6th it turns around makes a D under the previous high and look at the technicals much much weaker so I don't know what the story is because I think the earnings come out it's still got a little while to go before the earnings come out so Schwab is just saying wow this is not if I don't get the broker dealers moving together with the financials together with the QQQ the index 100 together with the Dow and the S&P then I'm missing very important factors so yes it's okay to see some of the cyclicals like the GE like a catapult like Elkoa coming off the bottom and acting not badly but I need to see a lot more I mean for instance the speed with which we've had and what I've said to subscribers just for the moment I'm trying to avoid single just individual stocks I'm trying to go for we have got an individual stock we've got we're along a bank stock it's doing fantastic it's a 5% today alone from where we got it to late Thursday afternoon but that's an individual case but mostly I'm saying I'm trying to avoid the specific stocks just for this particular phase maybe in a day or two I'll feel more comfortable because I'd rather be generic and go with the sector because individuals look at this, look what was acting so fantastically we're out of it for a while now CF Industries holdings hydrogen nitrogen products for clean energy fertilizer emissions abatement I mean you name it this is the sexy stuff of the media right what could happen on Friday it goes from 108 down to 98 and today it's only up $1.92 6 question came in what about Moz that's Mosaic the Mosaic company Partash, Phosphates, Fertilizers peak D in the monthly chart is 71 30 peak D in the daily at about 63 and 78 70 what was that that was in the weekly oh wait a minute that's even higher that can't be right no no I'm wrong oh 71 let me just get this right the high that was made in May was 68 now how can that be 68 no that doesn't make sense 79 28 there are 79 28 and the level that we were looking at for a long time was way back there left side right side price time look at this you're going to 2011 February at 89 74 it pulls back I did this measurement right here and it went there to the exact month the exact month to the 74 level but the 70 the 89 74 area that was missed because it went to 70 when I said was 79 something I'll just make it 79 for now yeah nice technique we were not long mosaic at all but I was giving some technical questions because I'm looking at this whole area has been really taken down I'm not saying I don't know I'll move the whole thing instead yeah so this is something very important because it's saying to us that the phosphates are under pressure and they're going to be under pressure for a little bit longer I'll be back waiting for some kind of a pullback in the doubt to get some particular position by understanding these trading ranges David White is able to find a path of least resistance David White's trading newsletter the path of least resistance is delivered daily before the markets open to make every trading day an easy win visit tfnn.com today and subscribe to David White's ultimate trading newsletter for $119 a month and try all of our newsletters risk free with a 30-day money back guarantee take the path of least resistance at educating investors 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 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 free 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 free fund within 30 days of signing up subscribe to the Fibonacci 24 7 newsletter today tfnn.com 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 one of the real things that I say to subscribers today is that I do not want to add to certain positions or get news positions after 10.40 this morning and one of the reasons is you have to always look at the characteristic of the market what's the characteristic of the market for a while now it's been to have a big sell-off in the afternoon could be earlier but usually if it holds you don't you can't tell that the last hour is going to be great with a wonderful close yes it was Thursday it was a four in one day I don't want to go through that again there's actually a five in one day so I am looking at this and the question came in advisor shares Dorsey short I didn't know what it was and I'm looking at this and I'm saying wait a minute if this is long and it's like advisors at this particular point you can't even get appointments for advisors they're so busy because everybody's worried about their portfolio this should be moving up but it's moving down then I see it's an advisor shares Dorsey short Dorsey right I'm sure WRI GHT not miss the RIG HD and yeah so we we're going to be watching this closely same thing with the VIX because if the VIX doesn't come down today but holds very steady to the upside or I typed in the wrong place it says that that's a problem so watch this very closely I'll do this because the question came in about Amazon yeah Amazon's trying to form some kind of a bottom here I'll have to be able I'll have to look at it tomorrow and Wednesday to see whether or not I said that you could start a position the other day but you needed a tight stop so you probably would take it out with a very tight stop but I'm looking at it because what happens with Amazon and the retail sector will do that tomorrow in detail but right now at 31.28 in the VIX index if in the afternoon going towards the last hour and 10 minutes so from 10 minutes to 3 to 4 o'clock if the VIX index is able to go into the 30 what was the low today 30.90 if it takes out their 30.90 and it goes up to about 30.60 down up to your first sign to say make this time we don't have a big sell-off in today so have a wonderful day this is a work in progress stay tuned for Steve Rose and all the great programming and check out my opening call