 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. Okay, looking good. Billy Ray feeling good, Lewis. Well, folks, I posted the open interest of the E-mini S&P as of yesterday at yesterday's volume and also the open interest yesterday with that huge move to the upside working into new high grounds. If you look on the far right over here on the first line, you're going to see this red figure right here. That means that we open interest was dropping and when the market goes up and open interest is dropping, that is short covering that is not new buying. That's why this is a red flag if you're long because if it's read today after the day we had today, look out because then we're getting ready to move down very, very quickly. I would think because when the buyers leave the market, the only thing left is short sellers and they're not going to give up. But that's what the history says. It doesn't always work at all. Well, it always works that way. But this might be the time when it's different. I want to show you a chart today, a couple of charts that we were watching. This is the E-mini S&P. Hopefully we'll get it up here. There we are. This is a it's a half 15 minute chart showing the action over the last couple of days. And you'll notice here that it was measuring up to the the ABCD measured up here to forty forty six forty six twenty eight and I was forty six thirty four. We backed off just very slightly. But what's interesting is I'm you know, I'm basically a technician. So if we do the if we do the chart on the Dow Jones, just using a 13 or 15 minute chart, what's ever convenient for you, you're going to be able to see that we did pretty much exactly the same thing. We did go into new high ground in the Dow Jones. That's 14 days up and we sold off a little bit. The market has since bounced back into the congestion phase up in here, but that this open interest is important folks. So tonight's open interest. If it's increasing, then boy, all ships are sailing. But boy, if something happens that it turns, it can be very, very nasty. So just keep that in mind as you're looking at these charts. We had a really great trade on about five minutes ago. We had bought the bonds at one one twenty four twenty two and we had to stop in at one twenty four twelve. And I just noticed that that was hit just a few few minutes ago. So there must have been some type of a news out announcement, but we had one really, really great trade today folks. And that was in the if you remember looking at the euro yesterday and the and the British pound. We happened to be in the British pound because it was the the easiest one to look at. But I wanted to point out here, let's get this up here. So you'll be able to see it. We said to watch for the 382 retracement of the euro today after the Fed had done their thing. And that's exactly what happened. Here's what happened before. And it's by the way after it hit this number right here. I hope I can pull the chart up after it hit this number right here. It's since made new lows. That's a $1,500 move in the euro, which is pretty good. We had a small loss in soybean oil, but the overall British pound and has has held up really well for us profit wise. So we're we're setting pretty nicely there. But I do want to give that here. Let me let me explain to you. Here it is right here by golly. I've got it. After all, I'm going to figure out how to use this thing one these days if I'm going to live long enough. Hold on. And I'm going to live a long time. Hold on one second here. There there's what we have Larry. Come on. What's wrong with this machine now? It doesn't want to pull up my charts when I get them up here. Hello operator. Let's try it again. Go slowly. Take a deep breath. Here is the euro chart as of today. There it is. You can see that the ABCD pattern sitting right there at the 50% level, just a perfect ABCD pattern. The British pound was exactly the same setting there at at 130 is now 128 20 or something like that. It's a big drop in the British pound. So those are the kinds that we want to be watching for today. Now the one we had in bonds was absolutely a beautiful setup. You couldn't get any better for a setup and yet and yet let's get this up here so you can see it. It just didn't work. Well, it worked for six or seven pips. But let me get this here and I'll show you what we were talking about. We did this on the show yesterday. So that's what we have to realize is when these patterns don't work. Oh dear. You have to be careful. You'll see here. This was the low we were looking for right here at 124 20. One for 124 20. We put the order in at 124 22. The low was 21. It rallied up to 124 30 and then just a few minutes ago it took our stop out. We had a 10 tick stop three hundred dollars and it was knocked out. So that's basically what's happening here this morning. So we got to pay close attention to these market folks long term. The bonds are very very various but they're extremely oversold and we should get a rally but should would and good doesn't always cut it. So you got to be able to do it. The thing that's moving this market folks are these stocks like a Microsoft and not Microsoft so much but Nvidia and also Meta Meta is up like 10 percent today. Several other stocks are you know quite strong and they're really just knocking the socks off everything but the key for us today and this was something that we knew was going to happen. The problem is had an order and it missed us by a dollar and a half. So I couldn't do very much and that was in the gold market and it's broken thirty dollars but we didn't get didn't get on board that one and we had we actually had two losses today. We had a loss in bronze and we had a loss in the soybean all those totaled about six hundred dollars and we up about a little over twelve hundred in the British pound. So it's a profitable day. We also made a recommendation on the E-mini S&P but I you know I don't want to get into that because it was pretty wild and I well I guess I should because I did a special video on it so bear with me here and I'll try to get this up here. I think the easiest way to do it is just to look at that first chart that we did because that was pretty much it. I wanted to get I do ABCD folks and I try to find the patterns and say OK I have to possibly risk a few bucks on this and then I'll do it. Oh we had one other one we took a we tried soybean oil excuse me crude oil and it dropped a dollar a barrel and you know what we did is we put our stop at break even and believe it or not it went back and took it out as made new highs it looked like that was going to be the high but it wasn't. So at one time it had a thousand dollars in it but it got back to break even and so we decided to stand aside and continue to go higher. But if you look at this ABCD pattern that we have here I said you know if you if it doesn't get above this number by very much and that number was forty six twenty five and I say have to use a ten ten point stop. The high was forty six thirty four broke all the way down to forty six ten and then it's rally back and I saw a little gyrations going on here. I don't know what the heck it means but this market's pretty crazy. So anything could happen and like it usually does. So that's where we're by the way our guest today is Bill Meridian of Cycles Research. You know always fun to be with and so we're looking to listen to see what he has to say. Always great stuff. Stay tuned for Bill Meridian Cycles Research folks. Attention traders Larry Pesevento the renowned trading mastermind is holding an exclusive live trading event on Wednesday August 2nd. From 9 a.m. to 2 p.m. Eastern time transform your trading skills with the real time wisdom of a Wall Street veteran. Just two hundred ninety five dollars gets you a front row seat to this power packed session. Plus a month free of Larry sought after newsletter Fibonacci twenty four seven a ninety seven dollar value elevate your strategies to code the markets and achieve your financial goals. Remember this event will be archived for all attendees and Larry only does a few of these a year. Don't miss this opportunity. 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we're back folks and we have an old friend on the line Bill meridian how are you doing buddy okay Larry how are you pretty good pal pretty good what do you got Bill can you make any sense of what the hell's going on out there because I people ask me and I said I've never seen anything like this 14 straight days up in the Dow Jones has that happened before in history I heard on Bloomberg that this would be the first time No well Fox business and who said it last happened I can't remember what's happened before mm-hmm oh wow I'll have to find out I'll google that myself and see if I can find it out what you have for us today my friend well first of all I'm going to start sharing the screen can you see that I think so we're in business yep houses are not seeing anything yet so let's keep let's keep trying if we can and should be okay there you go we're in business right now so everything's cool and we'll just repeat Russell Warren how a reasonable probability is the only certainty just to get started and this is a summary stocks are likely to consolidate correct through September I'll explain that there was one cycle it appears to be overriding the others the bullish period that runs from the midterm elections which was last October for 15 to 18 months which would take us to January or March next year this influence remains potent until the end of the year at least in 2022 technology lagged and energy led in 2023 this relationship has reversed so I'm expecting a rolling correction funds flow out of the tech leaders into energy finance industrials smallest cap stocks then expect everything to be up in Q4 and again here's the old one four ten year cycle the one year cycle being the annual cycle of the year which is I think we're all cycle analysts start I know art Merrill had a great influence on me and that got me into cycles it was based on the one year cycle at the market is strong in the summer which is where we are now weak in the autumn strong in Q4 and etc then the four-year cycle which is been attributed to the election year but as Ian not used to point out they have a four-year stock market cycle in countries where there are six-year election cycle or no elections whatsoever and the Fed props the the market up for the incumbent well the Fed only came online in 1913 and the cycle existed before that so I think I conclude there's a four-year cycle which has been measured most accurately I think is 3.84 years and then of course the ten-year cycle is the decentral pattern of Edgar Lawrence Smith who did say that most bull markets most bear markets end in October of years ending in a two which this one certainly did and that is the that this is the somebody of all those cycles and you can see you've got supposed to have a mid-July peak which we didn't even really well I should technology pulled back I'll say that are consolidated and then we then it shows a rally up until early August and the usual September into October decline now whenever you look at this one four year ten-year cycle you have to realize that the decline in September 1929 was so dramatic that it really should be extracted out of the numbers because it pulls that down anyway you run the cycle the cycles are a combination of the cycles it will show a week September for that reason the one who's the last time the market decline 90% 1929 is only been one so here's the S&P 500 I just updated this and let me just start that this I saw this formation this is an ascending triangle you saw lots of them in the tech bull market of the 90s when it breaks out from here which I predicted that would now how did I know it would because the cycles pointed up at that time that's the value of cycles it augment supplements or adds to technical analysis and oops that happened okay where were we 3500 and the top of the triangle is 4200 and textbooks will tell us that once it breaks out it should move up by the difference between these two amounts 4200 minus 3500 or 700 points which would put it at 4900 and right now we're just under 4600 but what you do just to be conservative as you go to the first one here and you see that's 3800 up to that's about 400 points so you say 400 plus well 4150 is 4450 did we get there yes we got there right here and the market capped up so now you go to the more aggressive you can go back here you can measure from here to here and back so the the this move should have fully extended itself once it advances up to about 4900 and the market likes round numbers so it may even be 5000 and so what is happening is I just updated that oh the S&P equally weighted indexes gaining relative strength I just very quickly updated this that's why I cut the strength off but that is the index itself it's equally weighted in other words 500 stocks it's not capitalization weighted they're equally weighted and look what has happened to the relative strength I said to myself technology is probably usually always is the leader on the downside in September if the market is going to continue up then it means probably that some funds that will flow out of technology but go into other areas and I've been watching this line very closely so now since late May the equally weighted S&P 500 has not made a new law in terms of relative strength and it shows a series of higher lows and momentum so here is the value line index now the value line index and get is equally weighted and you see it broke out of this formation right here and you'll note that the relative strength has been holding up and made a new high here a new high here so to go back and explain the the first statement in the presentation a rolling correction means the big cap tech stocks that have the most influence on the capitalization weighted indices they will probably go sideways with a hit by some profit taking it already started but now they're rebounding today because as we'll say September is sort of Death Valley or the black hole for technology and so in order if they pull back and I don't expect the average is good to go down very much that means the money is flowing out those stocks into other stocks that's how I come up with this and how do we know this is from last week look at the new highs and new lows July 17th 138 new highs 21 new lows the next day 202 new highs 16 new lows the 19th 162 new highs eight new lows and 101 10 94 to 7 as long as you having on the New York Stock Exchange or any market new highs that much ahead of new lows you've got a bull market and here is the weekly S&P this shows this triangle a little bit better do you see this 3500 area whoops this is a new PC by the way I'm not familiar with the keyboard but 3500 to 4200 700 points you had 700 to here and you get 4900 which is up here which is just over this so this will probably be a resistance area up here around 48 20 years so and we got to go sell something to keep the life we got to sell it make a few payments thanks bill we're building meridian folks cycles research we'll be right back with him folks old 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 u.s. 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 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 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tfnn.com and tfnn's YouTube channel with Tiger TV live every market day from 8 30 a.m. to 4 p.m. Eastern for free each host is an experienced trader and gives their take on the market while taking calls and questions live from around the world from the moment the market opens until the closing bell sounds Tiger TV has eight different shows with expert hosts to help you make the right moves with your money watch online at tfnn.com or on tfnn's YouTube channel and become the investor you were born to be tfnn educating investors don't forget you can listen to tfnn live on your mobile device 24 hours per day go to tfnn.com and hit watch Tiger TV that's tfnn.com and hit watch Tiger TV hey we're back folks talking to Bill meridian cycles research please continue my friend yes and here we see the value line index equally weighted now this is 16 to 1700 stocks so this is probably the broadest based one of the better indicators and of course I went to work there in 1977 so I followed it for quite a long time and there are the new highs and the new lows there's the weekly S&P and here is the average Dow Jones industrial performance in the month of August now remember this is from 1885 all August up 47.4% of the time for an average loss of 0.8% August in pre-election years up 50 percent of the time for an average loss of 1.1% years ending in three which is the decennial pattern of Edgar Lawrence Smith up 53.8% of the time for a 1.1% gain both of the prior conditions up 67% of the time for an average change of 2.4% so if you take the third the last case then actually August looks bullish which I guess is what you could say right now as I said we haven't hit the we haven't hit the targets on the upside now let's go to September same analysis all September's up 47.4% of the time for an average loss of 8.3% September in pre-election years up 50% of the time for an average loss of 1.1% slightly better year ending in a three of 46.2% of the time for a 1.2% loss and if both the prior conditions are present which is pre-election year and year ending in three then we're up 66.7% of the time for an average change of minus 2% so here we are here's apple in the month of September this is a histogram which goes back 43 years back to 1980 the red bar is the percentage of time it is up in a given month so here you see October it's up over 70% of the time in the month of October the blue bar is the percentage gain which is that's about six and a half percent and the green bar is the product of the two of them that's the expected return so in other words that would be 0.7 times about 6.5 which would come out to about four plus which is what this is as we can see over here so you can see we are moving from July into August so should you own apple right now well yeah it's up more than 60% of the time and not only is it up it is up for a good gain of over 5% the expected return is represented by the green bar let's now look at September September it's up 35% of the time that's the weakest you'll notice the weakest of all the months and not only that is a substantial loss over 4% so this is one of my favorite trades Larry long apple short till the late September and then long up until October up through the end of October and you might as well then hold it through the rest of the year so this is one of my favorite strategies and I'd like to add that when my friend Robert Colby wrote the encyclopedia of technical indicators he calculated that the average high in every year is September 5th the average low as we know is October 27th and had you shorted if you could have shorted the Dow from 1915 on September 5th and covered on October 27th you would be without perform a buy and hold by 3000% and when he published that book in the late 90s then what happened was when people realize the average high of the year is actually September 5th what happened but the top started to occur in late August August 25th August 23rd and so that is how these cycles change and if you're waiting until September 5th it's usually not wise it usually begins the decline begins somewhere in August now here's the tech sector in order bill can I ask you a question that September 5th the is is that heavily influenced because September 3rd of 29 was the high is that influenced because of that because it was such a big high yes okay just wanted to ask okay thank you yeah and that's why in the old actual analyst program we had a facility for dropping that cycle out so you can get a more accurate picture now here is a tech sector in the month of autumn you'll see it usually tops in July and it's still up and has a weekend month in August let's see it's up in July about 67% of the time then it is up in August 57% of the time but it falls down to about forty six forty seven percent in September and for sizable loss so what I used to do in Abu Dhabi is I would take profits in Microsoft Intel Cisco and buy automatic data processing paychecks I did that because they were in my field but the P ratios were 10 and the P ratios the stocks I was selling was 30 to 50 and I would just reduce the weighting later on I found out when I saw these graphs that August September and October are the best months to own automatic data processing paychecks all these payroll processing stocks so I don't know whether that's a natural cycle or whether other fund managers were doing what I was doing and of course the grand masters of wisdom who've never managed money in life insisted I stopped doing it creating more charlotte if you want such a job there are two qualifications first is a pulse and second is to never have them having managed money anytime in your life so now here's the sector performance in September and you will see that energy is considered a defensive or a value sector in the XLE is first it's up 54.17% of the time over 24 years for a 1.19% increase which is an expected return of 64 basis points then there are the utilities and that is the S&P 500 and here's technology so it's actually up 45.8% of the time but that's better than health care and consumer discretionary and basic materials which are all down in the 30s so it actually doesn't get hit as hard as some other sectors now and how this happens every summer and this is an old should we call it a trick or an investment maneuver that I've been using for years here is archer Daniels Midland and you see where I put the green dot to green dots that is August 4th from December 31 it's up 81.4% of the time over 43 years 43% 43 years is not a small sample it's not as big as we would like but that's awesome return is 12% the expected return of just 0.8 times 12 is 9.8% now that's 9.8% expected return and you're only holding it for what five months mm-hmm so I did a calculation once that if you bought and you held archer Daniels Midland from the beginning of this from 1980 up to the present you would be up on average about I think it was 9% annually if you bought it here and you sold it over here you were actually I think down 8% annually but if you bought it here and you sold it up here you're up 32% annually now this is the most biased one of the most biased stocks I can find it's not that way for every stock but you should use every advantage when you're managing a portfolio and of course yeah we both know what archer Daniels Midland does it is not a tech stock it is not a high PE stock so I think it's a very safe investment last year bought it gotta pay to build tell you what we go back you got it bill meridian for cycles research we'll be back in just a moment 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 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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 eight six six four seven six seven five two three 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 principle the funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor four side fund services LLC this program is brought to you by Vista gold traded on the NYSE American and TSX under the symbol VGZ we're back folks speaking with bill meridian the psychos research bill have a quick question if you don't mind yes what you're feeling on what's the feeling about art folks by the way I want you to notice I've known bill for all 38 years and he is one of the smartest people not just the market stuff in general he knows history like especially civil war history like nobody I've ever met but the question I have for you bill is what is your feeling in the overall scheme of things of what AI is and what do you think will happen because I hear things on the news that little and I've seen a couple of things that scare me do you have an opinion it'll be like every other invention in 1983 the brokerage firm I was with sent me to an AI symposium or conference and I sat next to a guy and I said hi my name is bill and what do you do and he said he gave his name I said he said I'm an AI specialist and I said is there any such thing as AI right now and he said no but he was an AI specialist so I think it's like every other invention it's going to in many areas it's going to flop because people are you know I do you read a lot of specifics I don't I read a lot of people saying AI AI and they get excited emotionally I said okay AI to do what now one of my friends in Austria so Bria Lagoon is an Algerian woman who works from her she's working on her PhD for an AI for information processing for the health industry and she showed me working on a mini form on her PC and it enables them to access medical information much faster and so if you if you request a certain thing the AI is intelligent in the sense that it sees the subject and it brings other such documents to your attention okay and so you could write if she could write a question like if this this illness is very prevalent they're growing in France you know what is the expected outcome and it would go through would find out the prevalence of that sickness in all of the European countries I said do you want me to look at the world to yes and it would put together a study for you very quickly but I don't think it is going to I wouldn't trust it right away I mean look a couple of Teslas have crashed haven't they and all inventions in the early days the general rule is you know stand aside and let them should work out all the bugs you know but in this case the bugs if it's flying in the airplane or something like that you don't want to be a casualty of the bugs yeah that's true so I don't think I don't think anything but yeah it's certain areas it's going to be great like you know the example I gave you from a friend in Vienna how far wrong could you go just sorting through medical records I mean that's my point but for coordinating airplanes and things like that glitches occur everywhere and you know my chief programmer on my my program they have come up with the drone air traffic control and their primary purpose was operating mission critical service for the airline industry in other words if you're flying in Southeast Asia there's a hurricane blah blah well you know don't fly down there and so they have to keep but I can see the effort they had to put you know to put any update if they missed something it didn't update something or a server went down there are a lot of trouble and so in the early days you'll have a it's like a gold rush you'll have a lot of people who rush in and then there'll be a shakeout and as a consumer you don't want to be involved in the shakeout and did I tell you I went to the hemp and cannabis industry show in June no you haven't yeah well this time I went and there was a big difference four years ago five years ago there were a lot of people who you know like hello my name is so until I'd like to get into the business this time I'm waiting they do a cruise around Manhattan at night in the first night of the conference and I'm talking to this these two ladies from Bermuda and I know we're native Bermudans and they have their own hemp and cannabis business down there and then I met a young guy and a girl and they have shops in Costa Rica and then Washington DC and then I met another guy who got a couple of drinks and I've been told them they make these if you're growing cannabis indoors and you're stacking it they make these metal frames that enable you to stack like number of planters going up and down in other words it is is congealing as a solid industry and about five years ago somebody told me Bill if you know if you knew what the fundamentals were beside some behind some of these companies you wouldn't buy anything and I think the shakeout has occurred because the stocks have done very poorly but this time everybody I met was somehow one lady does public relations for the cannabis industry another person was a lawyer handling another person handled finances and in other words it wasn't I want to get into the industry so I came to meet people it was I'm already in the business so the basis of that is forming so I don't want to be a victim of the early days of AI in an AI driven taxi or something like that anyway Archer Daniels Midland up 81 percent of the time automatic data processing up 74 point 42 percent of the time over 43 years from July 30th through December 30th is it an exciting stock no is it a low P yeah what is expected return is about 10% but remember that's 10% over five months and then here's Procter and Gamble June 27 to December 22 up 93 percent of the time expected return 11.4 percent that's about half a year so you could double that that's 22 23 percent low P ratio again low risk so the point is I'm going to switch some of the stocks I'm going to sell off some of the tech stocks which I've made money this year and buy probably well those are good probabilities when you look at those probabilities they you don't see that very often you know that that's really quite amazing and now this is the current S&P 500 screen which is my main screen and right number one is NVIDIA next is quanta services advanced micro devices Microsoft Vulcan materials S&P global synopsis I think that's co-part I'm not really familiar with them CRM is Salesforce and and tap is boy the name's right on the tip of my tongue and I can't think of it and DHI is a D it's the Horton restaurant chain but the first number is the seasonal rank in other words in the month of September NVIDIA is ranked number three this was one of the NASDAQ by the way oh no this is the S&P 500 RSV is a relative strength in other words it is the strongest stock number one and number two seasonally speaking it's the third strongest in the month September so you add those together divide by two and you come up with the overall rank is two but it is way ahead of what's in second place so this is the list of stocks that I'm this is what I use primarily to screen the number of stocks down to a manageable amount and and so of course you see NVIDIA in other words even though we jumped it's still very highly rated quanta services I have to look into the manufacturer machinery advanced micro device of course chips you know who Microsoft is Vulcan materials is just that it's materials seasonal rank it's 40th best performer of the S&P 500 in the month of September and it's currently ranked 28th in relative strength I always give this RSV column more weight in the seasonal column okay and now this says now this is I just added this is I just spotted this this morning so we are actually going to click and go to my program and this is you need another ad okay when you come back could you could you give us a heads up on where you think oil and gold are going to do as soon as they finish Google you you got it we'll be right back folks Bill meridian cycles research 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 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 dot com TFNN educating investors you might 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very good earnings report and the stock is going to move up so I still favor Google a bowl of technology stocks I don't think has moved it as much as the others so I like that one very much and so gold enters its best season price has paused at the 50% retracement level the 21st was a projected turning point so price has already exceeded the important 30% retracement level the gold summer rally has begun from June 7th through October 10th prices risen about 62% of the time the $2,000 area is the short-term target that's what the histogram looks like so as I was saying in June you might as well hold on to your gold holdings you're in the best season right now in August it's up about well this is the expected return but it's up 60% of the time in August 61% in September for a good magnitude gain and there's always usually a correction in oil and gold around the middle of October so I'm holding gold and oh there's the there's that gold there's risen 62% of the time in that time period now as for oil I thought oil was going to go a lot lower I was getting ready to short the oil stocks but that's one problem they didn't break their support levels so now I've turned more optimistic and I'm looking to buy selected energy stocks and I think you know the the worst months to hold energy is October, November we got a couple of months to go so I think some of that money may flow out of tech into energy and here's a contrary opinion and wind power trouble in the wind in Varen's which is a bi-signal for anybody who's involved in wind power and Bill thanks for joining us my friend and may God bless we really love having you on here well I enjoy it too thank you so much Larry you bet buddy Bill Meridian folks Cycles Research Vienna, Austria we'll see you on the flip side tomorrow