 The Tom O'Brien Show is produced every business day. Tom takes your phone calls toll-free at 1-877-927-6648 internationally at 727-873-7618. Let's get a mic in Southern California, hey Mike, what's going on? Hey Tom, nice to talk to you again, and I have to start out and first tell you, I love this trading room, this thing is great, this app, it works great, and getting all the information, you're like instantly there, no delay, nothing. I know, listen, I appreciate you growling proud with us. Your channel is in my pocket all day long, it's wonderful. Thank you man, thank you. Now, Tom O'Brien. Welcome folks, this is Tom O'Brien of TFNN. We have five days a week, we go seven hours a day, we go 24 hours a day on the internet at tfnn.com. Always remember folks, whatever you think about, you bring about whatever you focus on grows, hope everyone's having a great day, safe day, let's make it a great night folks. Always do your best, express your own divinity. You don't need the acceptance of others, you don't need knowledge or great philosophical concepts, you have the right to be you, and express your own divinity by being alive, loving yourself, and loving others. Mugger the wise, let's take a look at it out here. We have the Dow Industries up 236, NASDAQ up 26, S&P's up 15 and a half, Gold contract up $5.90, trading at $19.36 an ounce. We have Silver down 3 cents, $23.31 an ounce, Light, Sweet, Crude up $1.87. $74.87 a barrel, notes and bonds, a 10-year note, up to ticks, trading 111.07, the 30-year up 6, at $1.2408 and Kingdoll. Kingdoll's down 237 ticks, trading 101.735, the Euro's at 109, the yen is at 1.40 and the British pound is at 129 to 1 US dollar. Offer numbers 877, 9276648, give us a call folks, want to know what's going on in your world and the world of the S&P's, let's take a look at them. So let's look at the future first, okay? So you get a market that wants higher price. As you climb in here, you know, you're losing the juice behind it, meaning the volume behind it. What we just did here, and we made this high this morning, you know, at 1210, bottom line, you know, you can see that we ended up happening, we ended up taking out the high from 1140. Now that had 70,000 shares traded, right? Contracts traded, right? But now watch this, because this is like pretty intense. You went, you did 33,000 and then we did 10, we did 30,000. Well, your benchmark is that 70, and then bam, boom. You went from the high of 44.65 and a heartbeat down to 45, 44.52. That's what happens folks, when you get over and there's that type of discrepancy on a percentage basis, okay? So now bottom line, what are we doing? Well, the bottom line is that the last bar out here, we did 26,000, and you know, we're dealing with 30, so you're not dealing with much. I suspect that, you know, we don't have, you know, we don't have a high volume loss, because that high volume loss for the small, see the high volume loss for the small of 54,000. Well, just use your crosshairs. That was actually going into 92,000. That's how that works if you're looking, you know, using time in the trade. That's bottom line is that, hey, does it ever buy it over there? Guess what? They decide they're going to be at it again. We go into the NQs. So the NQs definitely led down the first, you know, pullback this morning at, well, at noon. And what the NQs do have, this is what the difference is. Remember this happened a couple of weeks ago too, yeah, a couple of weeks ago. The NQs do have some volume down here, you know, not, not the highest volume, because the highest volume is that, and this is kind of cool to look at. See the highest volume is at the 15,146. That there, we did 32,000. And then we got down again to 15,152 with 70, with 7,000. You see how that works? 7,000 versus 32,000. Is that only 7,000? Yeah, 7,000. We're going higher, man. Oh, that ain't even close. You see, hey, I'm going to go over this again, man. That 7,000 and you would, you're talking 32,000. This market wants higher price. That, even that Azdec, we're going at a higher price, man. That, that's pretty intense. Gold. Gold contract right now is building cars for a higher price. You know, still you get a sideways move out here. The, we have a 7,171,000 contracts out here today. Not, not bad contract volume. We made it up to 1944 at 1937 right now. You're going to need more volume and you're going to crack this, this whole deal because the resistance is still going to come in on a monster basis at 1040. And that's what keeps happening. You see that, that's ice. That's, that's what that is. We put it this way. That's ice. You know, so we jumped the creek. You had volume when you jumped the creek. You know, it's going to try to get by that pot. You know, bottom line. I expect it's going to get by that pot. Why? Because if we get over to this dollar, this dollar wants to get down into power. And we'll see how this shakes out. Couldn't hold price today. You know, almost, almost, you know, made a nice hammer today. Okay. That was early this morning. Couldn't handle it. So your next leg here is somewhere about 100.756. Now, let's bring this back a little bit because if we actually get action going, I want to show you something because this is, this is where if the dollar actually can't hold this level, then you are going to see gold go to the moon as well as the market because this level here, you know, we get under the 100.7 to 800 year in a whole other range. And the next level down there is 89.200, you know, and that's how markets move, man. That's the bottom line. We had a question about the XLE and ABC Up. It's not an ABC Up. The reason it's not an ABC Up, this is what you have to get your head wrapped around here because of July 3rd. So the XLE, you know, it's going higher. So it wants, it wants higher price, but I'm just saying it's not an ABC Up. The reason being, see, I was taking out that B point, that B point was July 3rd. So when you do the volume calculation, you actually need 18.1 million shares, you know, A to B equals C to D. Now that being said, you know, you're taking out the top of the consolidation, which is 82.51, you're at 83. So, you know, bottom line is that, yeah, you can get up to this 87 anyway, either way. Some of the higher volume equities that we have out here today, you have, let's see what we got. Well, let's go inside the NDX100. So inside the NDX100, you got Activision, yeah, the Microsoft's going to take over Activision. That's up 10%. You got, what is that? That's the electronics ads up 5%. Airbnb's up 4%. Data dog's up 3.5. Taking away from it, AMAT's down 3. AMD's off 2. ZScale is off 2.3. And you got Clack off 2.4. Our phone number's 877-927-6648. Give us a call, folks. Coming right back with our man, Mr. Basil Chapman. We are going to be growling and prowling with Basil. Dow. Dow Industries right now up 225. NAS except 28. S&P's up 15. We'll come right back. Currencies, commodities, and bond markets are as important as ever right now with how they're driving the volatility in equity markets across the globe, which is why it's a great time to try out Teddy Kegstad's Tiger Forex report. Teddy Kegstad breaks down the Forex markets every Monday using his 30-plus years of experience as a trading veteran of futures, Forex, stocks, and options. Teddy releases his weekly Tiger Forex report every Monday morning with coverage of all the major currency pairs, including the Dollar Index, the Euro Dollar, Pound Dollar, Dollar Swiss, Dollar Yen, as well as many more. 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These newsletters are packed full of Tom's advanced technical analysis and are geared to deliver comprehensive strategies for a successful portfolio. Get Tom O'Brien's newsletter, Market Insights, today and try all of our products and newsletters 30 days risk-free with our money-back guarantee at TFNN.com. TFNN Educating Investors. Everything in the universe is governed by the Fibonacci sequence. This mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market. To stay on top of stock patterns you can take advantage of, sign up for the Fibonacci 24-7 newsletter at TFNN.com. When you subscribe, you'll get a weekly report from veteran day trader Larry Pezzavento on stocks you need to pay attention to and you can trust Larry's analysis. After all, he's got 45 years experience as a day trader. Larry will also provide daily charts, videos and data on the key markets that he's tracking. Expect notifications from Larry on market movement you need to act on at any time. First-time subscribers also get a 30-day money-back guarantee. If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up. Subscribe to the Fibonacci 24-7 newsletter today. TFNN.com Educating Investors. 8-7-3-7-6-1-8 Welcome back folks to Dow. Dow Industries right now trading up $2.28 to get the Nasdaq up $31. S&P is up $17. Let's get over to our mam. It's the Basel Chapman as we do each and every Tuesday. And don't forget folks, Basel has a great newsletter. Matt, the opening call. Now it's very easy to get the opening call. Just come over to our website at TFNN. You're going to see it right into featured content on the left-hand side. You can get the opening call for one month for $149. You get it for six months for $6.95 which is a savings of $199 or 22%. And you can get it for one full year for $11.95 which is a savings of $593 and 33%. Now they all come with a 30-day money-back guarantee. So the bottom line is that if it works for you, awesome. If it doesn't work for you for some reason, guess what? You can get your money back. And of course, don't forget, Basel's on every trading day. 10 to 11, Eastern Sands of Time. Basel Chapman, what's going on? Hi, Tom. How are you? I'm doing great, man. Yourself? Very good. Thank you. Interesting market this, I must say. Yeah, exactly. Exactly. It's also interesting the way it's just rotating through different areas. As you think something's weakening, it suddenly strengthens. And as something's strengthening, suddenly see weakness. Cues are a little weaker today, say than the Dow. Just interesting that Russell 2000 suddenly coming alive. It's really a fabulous market, as I must say. Yeah, it's been a one-way market, man. There's no doubt about that. That's a fact. So we'll see where the rest of this summer goes. But that's fine. That's what we have. That's right. I mean, even the patterns, the way they're repeating, you know, I always talk about the pattern that I call a straight line, up or down, or an arch, or a cup formation. And the market doesn't matter with it. It's a one-minute chart, or a weekly or a daily, monthly chart. The patterns just repeat because they're fractals of human nature. Yes. So here's this pattern that I've talked about, the H pattern. And I have it in red because if it comes down sharply and then tries to rally fails at a peak A or a B and then takes out this left side low, it can go a lot lower. Well, look what happened to the Dow. 34,588 on the 16th of June comes down for 1,000 points, goes to 33,610 rallies. It goes to A, I call it a gray A, because all the technicals are weak. But I kept mentioning, and I've done this for a couple of weeks now, I've said I use the nine-period moving average over the 14 or under the 14 as a very strong tool. Yes. And as long as that, in this case, as long as the green nine-period moving average is hovering over the black 14-period moving average, you've got to consider that there's still internal strength. Well, look at this. We went to that arch formation. We failed just under the 34,588. So yes, your H pattern. And what happens? It comes down sharply. It even had an item reversal, which still hasn't been filled. And it goes all the way down above the 33,610. Yesterday, the low was 33,000. What was it? 795. And look at this. It comes back again. And that nine-period moving average is getting closer and closer to that black 14-period moving average. Hasn't turned pink. It's still green. And look at that nice candle we've got. So the pattern I always like to talk about is, if I can just find it right here, is that there are times when the lower case H, if it successfully holds the left side low, can stay within a rectangle formation, going sideways, and then form a lower case M. So it looks like two little arches. Yes. And that's what I think is happening here. So I think we're in a containment area, as far as the Dow is concerned. If you look at the weekly chart, it's just walking the nine- and 14-period moving averages, holding very nicely. So that's very interesting. So we still kept our core position. We had trading positions, which we took off recently for very nice gains. Haven't got in because I think we're sort of stuck in this range. But now look at this. The S&P, let me just get that right. Yeah, you know, it was interesting, Basil. I was listening to your show this morning, and you were actually a little surprised, I think, that so many cup of handles that you've already gone through are going higher, right? So yeah, and that's the fascinating thing about a pattern that you are just, you are not the pattern. You are following the pattern. Right. And you've got to keep that in mind. And sometimes you have something locked in your mind, and something either exaggerates a little bit, but you've got to be prepared for it. So that's one of the things that I'm looking at. One of the reasons why, in fact, we were short the semiconductor index, did very nicely on a very short-term basis, we were stopped out today, and then the S&P, semiconductors were kind of weak. So I'm watching, in fact, I'll do this right now. Look, first the S&P on this daily chart on the left, look how high the nine-period is over the 14. That's giving you internal strength, even though the MACD is weak. I know a lot of people use the MACD, but you've got to use it in conjunction with other things, because this is the last, we used to think of the Fed as the last, what's the last bank of resort. So this is the same thing. This is the last resort, is the nine over the 14, because the MACD is weak, because the casting is 64%, that's weak, on-balance volumes weak, regular strength is not too bad. But look at the SMHs, got closer and closer to turning down, and they just refused. And today, even today, look, there's a red candle down 41 cents, but it's holding very nicely. So that's why I have a lot of respect for the rectangle formation. Goes towards the upper part, goes towards the lower part, how it breaks either of those is very important. So that's my view at this particular point with just given parameters right now for the Dow. If the Dow, it can't just go there once, if the Dow actually starts to trade above 34,700, that is clearly a breakout. Let's call it 34,800, just to have a little room, 34,800 on a weekly basis. We've left this lower period, this whole area, we just left it behind, and now we've got that as support for higher moves up. But we could say for a little while if the Dow starts to trade under 33,400, and I'm using the Dow because just as my benchmark at the moment, I do the same sort of work with the others. But what's interesting is the AI area. I mean, we are still long bots. The BOTZ is a symbol for the global ex robotics and AI ETF. So I talked about this H pattern. Well, it went underneath the left side, and we're along from quite a bit lower down. And what's interesting about this is that it's made this H pattern and it's trying to form a second arch formation. The MACD is still weak, but the N9 period actually went negative, and that's what I'm saying, that you've got to put things together to get a picture that says, I've got all my technical indicators, but price is the arbiter of a trend. And in this particular case, it's trying to get, if it can close the bots, the BOTZ trading at 2881, can close above the 2895 high of the 3rd of July on a weekly basis, then you can start to form the cup. And these patterns repeat all the time. So we've got, there's one that I've spoken to you about for, oh, about four, five, six weeks now. We went along in the 21s of some BOTIC and end-to-end AI, robotic warehouse automation systems. And my target, I didn't expect at all that it would go to the target that was made at 28.48 in June of 2022. But it really, it quickly took that out and continued all the way to 5383. We're taking quite a bit off. We keep trying to get back in, but this is a tough one. Look, it just keeps running to the upside. Yeah, this is a 4663. Now it's forming the cup formation, so that's good. And another one we got into just recently, this is an Inovix corporation. We got in in the 16s and today's at 20. Nice. Certain areas are working. All right, listen, folks, it's very easy to get bells and news out. Come over to our website at TfN. You're going to see it right at the featured content. You hit that button, you are off to the races. Baz, you have a great one safe one we look forward to show you tomorrow. Thank you, Tom. You too. Thank you. Stay right there, folks. Come right back. The gold report. As a precious metal, gold is still king. It continues to hold the most effective safe haven and hedging properties across the global major trading hubs of the London OTC market, the US futures market, and the Shanghai Gold Exchange. The gold report. Tom O'Brien publishes his weekly gold report every Monday morning for subscribers consisting of coverage of the XAU, HUI, GDX, the dollar, bonds, the South African Rand, as well as 25 different mining equities with specific buy sell recommendations. The gold report. New subscribers get a 30 day money back guarantee so you have nothing to risk. Subscribe to Tom O'Brien's gold report newsletter now at tfnn.com. Sharpening your skills as an investor is like getting better at playing a musical instrument. You have to practice, sure, but you also need excellent instruction from experts at TFNN. You'll get advice and guidance from the authority and technical market analysis. And it's not just dry, tedious text either. 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In the Tigers Den you can look over the shoulders of Tom O'Brien and the other TFNN hosts while they analyze charts during their live Tiger TV programs and join an interactive trading community with hundreds of members exchanging ideas interact with other Tigers and Tigresses as they share trading ideas, news analysis and discuss the market action all trading day even at night and on the weekends. The Tigers Den at Discord is accessible on mobile or tablets as well. So it's always at your reach to sign up today and become a part of this educational community of traders. Just visit the front page of TFNN.com. Welcome back folks to Dow. Dow Industries right now trading up 246 to get the NASDAQ up 39 S&Ps are up 18. You know, I heard Tommy talking about this when he was kicking off TFNN this morning. And what this, what we're going to talk about for a few minutes here is the rebalancing inside the NDX100. Now this is the first time that it's a special rebalancing and so what you have here is this, okay? And this is where it's going to get this money to be made here, okay? So what you have is this, okay? The reason it's done is that there's so many funds folks, okay, that they can only own so much of an equity period, okay? That's how this works, okay? So the NASDAQ and inside of that the SEC is the one that's going to be all over these funds, okay? Making sure that they don't have to do anything else. Making sure that they don't own something that they don't so much to own from their funds perspectives, okay? So the thing that's so intriguing here is this, is that the rules, the actual rules, okay? And you're going to see a lot of movement out here, man. So let's picture what a rebalance is first. This is what's really important to understand. You know, time in the trade is all about supply and demand, okay? So the supply of the fabulous seven or whatever, you know, you want to call the biggest seven stocks, okay? Are going to get sold, period. Now that's Obama for the seven stocks, okay? And they have to get sold. That's the thing that's amazing here, okay? So you know, like when equities get into the S&P or get into the NASDAQ 100, the reason that they can go up is that there's so many funds that mimic those and they have the fund, folks have to buy them, period. That's the bottom line. Well, in this particular case, they're going to have to sell them, period. Now, this is where it gets pretty cool, okay? The question is going to be where does the cues and where do the followers of the cues, the other funds of the cues, as they sell them, and they're all going to be following the cues, because that's how this thing works, okay? They're going to be putting money into other equities. And everyone's speculating. Like if you look at Starbucks, what you're going to see out here is that yesterday, bottom line, what this pop is, this pop right here, and Starbucks is all about that rebalance, okay? And so let's bring this back for a second. Yeah, it doesn't have a high volume high either, okay? So that's, let's see. So you get Starbucks, you have, let me pull a few more here because there's a few that the speculation is already that the fund managers are actually going to have to be buying some of these. And this is where this gets really wild, okay? So one second, I'm sorry. Oh yeah, okay. Montelis, yeah. Bookings. This one's going to get interesting. Booking holdings, because this is an expensive, they're going to be buying this too. So let's see this. That's interesting, yeah. So that got a big pop yesterday, but let me bring this back a little bit further. See, now this is already at all time highs, but the speculation is they're going to have to be buying Booking Holdings as well as Montelis International. M-O-N-D, but right here. Okay, now this is lower. Well, this is actually an ABC down. Hmm, maybe, well, it's close. Yeah, now this is an ABC, that's generally, yes, an ABC down. So bottom line, not with really intriguing, now listen to this. This is going to get done on the 20s, I just had 20s. Where are you? Yeah, so the big equities on average have gained 62% year-to-date. That's three times the average of the stock inside the NDX100. This is going to happen July, there it is, okay, July 24th. Now the thing that's interesting, I believe, and we had our men Mr. Tim Ordon, right? It's somewhere around that area that the market itself, cycle-wise, just turns bearish anyway. So this is going to be a it's going to be a trip then. But the reason, I just want you to wrap your head around the aspect of what has to get sold, what has to get bought, and the NASDAQ, the NASD who basically runs, no, they don't run the NDX100, but they're going to tell the NDX100 exactly what has to happen here. And those rules are going to be basically placed. So the day that that, those rules get placed, I can imagine, traders are going to be looking at that NASDAQ site every single day, every single minute, because the bottom line is that we know futures get traded 24 hours a day. Bottom line, once those things go up, you're going to know ASAP how much has to get sold and how much has to get bought and what stocks have to get bought. So this is going to be really unusual in the context of where this is going to go. So, you know, it's going to be something else, man, you know, because the bottom line, let's go to take a look at Apple for a second. So you got, Apple's going to be the biggest monster for sure, because it's the biggest waiting and we'll see how much they have to sell. And the real question is, is that, you know, there are other people that, you know, bottom line, they want to buy Apple, you know, right off the bat. What we have seen is that a regular rebalancing. So this is a different type of rebalancing. We have had a regular rebalancing inside the NDX100 and that's also when Apple got outsized waiting structure inside the NDX100. And guess what? It didn't make a difference. What happened is this, it made a difference for a couple of weeks and people just kept buying it anyway and then up the waiting structure of the ND, of the Apple inside the NDX once again. So it's the whole thing is going to be pretty wild. There's no doubt. It's going to bring volatility into the close into the market in general and you're going to have a lot of speculation in between now and when this happens. Let's get over and take a look at the gold market. We'll take a look at the GDX out here. You know, this is the GDX, they're all trying to get off the lows but they're having a hard time. You know, GDX yesterday had a good day. Okay. Got some juice in it but you can see it's failing today. You know, while you're up 11 cents we have 10 million shares. Yesterday we did 24. Now, see that market in general, meaning the market, the broad market, the metals market, this type of contraction of volume is saying that we are getting very close to highs. That's my take on it. But my take also is that we're actually going to get the high. That's what's going to blow everyone's mind. You know, and little by little you touch that high maybe they'll have a spike high and what a spike high is specifically is you get up to the high, right? And then, wow, bang, you run the high intraday and then it gives it up. Stay right there folks to come right back. We have the Dow. Dow's up 250, Nasdaq's up 36, S&P's are up 19 but come right 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 visit the front page of TFNN.com. TFNN 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 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 Biotech Three Times Bull and Bear ETFs Visit DirectionInvestments.com Slash Biotech Today An investor should consider the investment objectives, risks, charges and expenses of the direction 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 866-4767523. The prospectus or summary prospectus should be read carefully before investing. An investment in the funds is subject to risk including the possible loss of principal. The funds are designed to be utilized only by sophisticated investors such as traders and active investors. Distributor Foreside Fund Services LLC No cash or added costs when you join our community of traders. Sign up today and become a part of this educational community of traders. Just visit the front page of TFNN.com. This program is brought to you by Vista Gold. Traded on the NYSE American and TSX under the symbol VGZ. Welcome back folks. So down investors up by 248. You get an asset up to 42. S&Ps are up 20. You got gold. Gold's up 620 out here. We let's go take a look at the oil market. CLA There we go. So you have a you're up a buck 88. You get 291,000 contracts traded. Yep. You're going for the top of this range here. This is going to it's going to get interesting because the the XLE is breaking topside. The last spike. Let's see this. What's that? 74.65. You know this ain't bad. If the if the oil market can get one more goose you know you get give a small contraction of volume today but if the further it gets away from 74.65 that would be you know bottom line with you know if it get away from it then I would say okay you might make this 82 which would be pretty wild. On the downside we got into 67. That was only two weeks ago. So I can see that your government's gone you've gone up $9 and what is this? Oh this is interesting $9 in nine trading days. So we'll see because the last time that we did make it up there it gave it up in spades. It went from 77 to 71 on a heartbeat. We go take a look at the let's go take a look at the Dow industrials. Strength versus the weakness inside the Dow and number wise here you have sales sales force putting 50 positive points Boeing 33 3M 29 Caterpillar 26 taking away from it Merck minus 10 Amgen minus 9 Johnson and Johnson minus 8 nothing else the rest of them are pretty small out there. We go to the IWM let's take a look at the IWM. Now the IWM bottom line it always seems to come up to rare and you know once it starts moving though you really get some action going and so you can see in the last three days the IWM just went from the 180 to 189 level. Today what's happening is that we're taking out the swing high of 189-24. Now you get a huge contraction of volume you want to see this man this is this is one that doesn't work but the bottom line is that these are types of spikes that I'm talking about. So picture this your last high up here was 37 million shares we're taking this out today with 21. Okay price is holding though I expect price is going to hold too we put this on a weekly the reason I expect price is going to hold is that the S&P wants to finish off what it's doing that's that's my take on it so you can see see this right here yeah this this small this small cap's going nowhere okay every week now look at this five weeks ago five three six weeks ago six weeks ago we did 223 million five weeks ago 186 four weeks ago 141 three weeks ago 145 last week 106 this week we all right now you're at 50 see a benchmark is 233 this is wanting signs folks that's how this whole thing setting up right now and I suspect the small caps are not going to make it because they're actually going into 174 million let me put this on a daily now so they're taking out with 21 million they're taking out 60 million yeah you know this is this is going to be this is an amazing trading market but it's going to get even better that's how this is setting up let's go to the silver market for a second so silver you don't have any movement out here today on silver you down free cents that's nothing that's a sideways move yeah not enough 33,000 so see if when I'm when I'm looking at this right now this is how this I think this thing's going to shake out when silver doesn't have any juice today gold has a little juice right the market is getting tired as it's coming up to the highs the volume is contracting you know where I'm going to go right oh look at that pop look at that oh my let me see this for a second this is these these are the spikes the the S&P just spiked five points like in a heartbeat look at this unreal and you get volume behind the move what time is it let's see that's seven that's seven minutes out or a 10 minute bar it's going to blow away the swing high so it just blew it away now let me pull this okay so you have you getting closer and closer so we're at 442.32 444.30 is the number okay so now let me go back to the thought that we were just talking about that you have the S&Ps Dow, Nasdaq all getting up to those highs we talked about the spike high and gold and silver still having a hard time getting a traction right well now let's go over to the dollar because the way this is set up is it hasn't been able to hold price at all right it's coming into the lows okay so it doesn't necessarily have to get to the lows I suspect we're going to see here as we get to the highs right this dollar will get a little bounce going it gets the bounce going the bottom line the market can't stand the dollar going higher that's where you know bottom line it's not getting the pull back and we'll see how this baby shakes out and very well just maybe a small basically bounce let me put this on a weekly because you can see we've been in this range sorry about that folks we've been in this range for quite some time man take a look at this you know it's there's some nice channels set up we've been in this range since December of 2020 oh no 2022 so we've been in it quite some time but that's how I suspect this thing's gonna shake out that's what it looks like the you know and the nq's nq same setup the nq's just took out its swing point took it out with volume now it's not an abc up because what happened folks is that the we did too much of a deeper retracement out here today but you can see the expansion of volume we're at that's nine minutes into it you're doing 13,000 contracts you're taking out the oh well taking out 15,000 but what's going to need more contract volumes to basically stick but at you know 350 pm when we get a four four o'clock close these markets are gonna stick and this is just how highs are actually made meaning that you run them you run them and you run them again that's that's how it works and you run them right into the close and that's you know because that gets everyone bullish in a monster way and you know they're already leaning that way that's the bottom line you can see this we're actually taking out let's see what this is four four seven six yeah we're taking out the highs even from from friday you're taking out the highs from friday this is in the futures now and yeah this is gonna be cool man so the future four four nine eight that's nothing that's only 20 points from where we are right now so we'll see how that shakes out tomorrow morning but that's that's how this baby's set up right now and it's probably because too many people are on the wrong side of the trade right now DAO DAO industries right now free 32 now six up 82 SAPs up 31 stay right there folks come right back 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 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amount of stops were in and they had a buy that's what that is that's everyone buying at the same time by the way that's how that works okay so that there's another indication that we're getting there and you know I happened to be just saying right before that about the aspect of spike highs okay spike highs once you get used to them you're gonna love them that's the bottom line it's when you're on the other side of the mirror it's a drag there's no two ways about that but as you get close to highs if it's a real high meaning and you're gonna get a decent pullback most of the time there's spike highs that's that's just how the baby sets up percentage wise out here today we're gonna have let's see so you got the dial of nine tenths of a percent you get the NASDAQ up a half a percent and you get the SMPs up four tenths of one percent you know and we go overseas you can see this now I've mentioned many times about the DAX if you saw the DAX the DAX is up three quarters of a percent this morning so the bottom line is that you know the market prior to the open prior to nine thirty those SMPs were about about ten they gave it back you know keep your eye on the DAX folks okay especially if you're day trade okay it's a you know money moves around you know the world in two seconds these days okay and the correlation is pretty tight inside the DAX and inside our own markets each and every day and they're basically well they're they're three or four hours ahead of us which is pretty cool always remember folks the back and Chloe hide out the bull could run you over and thank god there's always another trade health happens in prosperity have a great night folks have a safe night join Tommy tomorrow morning CPI is coming out in the morning that is going to move markets and it's just possible that someone knows that CPI is going to be a light CPI because the bottom line well hey when I do the update I'll give you those volumes because right now we're still light volume have a great one folks have a safe one