 The following is a presentation of TFNN. The Tiger, technician hour with your host, Hazel Chapman. Call now, toll free at 1-877-927-6648. Good morning, everyone. I'm the champion on this tough day of June, Monday, and we're looking at the Dow. And I'm using a number of sources because last night everything was working just, I'm out of the office and I use remote. And out of the blue, I couldn't get my desktop. I usually use the laptop if I'm out of the office or even if I'm in the house. I always use the desktop as my source and I connect to it. Wherever I am in the world, I always do that. It's always been very good. But for the last six months, the reliability is a factor because the internet sometimes is a power outage or whatever it is, and I can get stuck. Right now, I was stuck, but I decided I would do this in a different way. Let me say the Dow is up 58, the S&P is 58 to 33,934. The S&P is up 4307, up 8. The NASDAQ composite is up 55 at $30,312. So I want you to go through a bunch of things. I'm using the diamonds here and this is the Investors Business Dairy charts. I'm just using that. I don't normally go to their charts other than to read whatever I can in the paper electronically. But in the meantime, I'll show you the diamonds. You see this chart right here? This is the Dairy chart. So what we're waiting for for subscribers to the opening call, we're waiting. We had legs see on Friday. I also had a Chapman Wave Trin gauge, which was very low, which said that the Dow should see weakness. Usually it's in the morning before it rallies, but it should go negative. And after that particular index, that's my own make-up one. I use Richard Ohm's short-term trading index. I use numbers. There's just two numbers on the high side or the low side. If it's above a certain number, then the S&P should rally with nine to 12 points within two sessions. Even if it pulls back, don't be surprised because that's what's in store. And on the very low side, this is the very next session that Dow should go negative. Well, I think it was negative for a brief moment, but I'm not sure. It doesn't matter. Whatever it is, what we're looking at here is this particular chart, a bar chart, and it shows you with updates blue and the... I didn't want to change it to a candle stick. In fact, I haven't ever done that before here, so I'm not sure what's going on. It's different to the newspaper. All right. So in this case, you see those little candles? One, two, three, four. And today is the fifth session of these tiny little blue candles. But have a look back. Look at that. A couple of candles, very small candles back in April. Then it pulled back sharp before it made a normal new high and then turned down even sharper. Going all the way back to the gap, back in August, gap high, and then you had one, two, three, four, five days. So in the chart, we methodology. Once you get a buy signal that gets upgraded to a buy mode, which is exactly what's happening here, there should be at least four higher peaks. Alphabetized peak A is the first. One penny above A stars leg B. If it makes a peak, it becomes peak B. Now even more important, once it gets upgraded from a buy signal to a buy mode, it should go to at least four higher peaks. The only time it doesn't is if it's under a previous high. It could fail beforehand. But in this case, the technicals were strong enough to say, I believe I've got a buy mode. Here's the two hundred feet moving average. It's not an exponential. I think it's a simple moving average. And I think the red one is a 50 day moving average. And there again, I think it's just a simple moving average. But you can see the distance to do is very high, but it's starting to narrow. So this is what I'm looking at. There's a chance. And this is what I want to do. I want to do today's show for a couple of reasons. I hope I might have to drive all the way back to my office to organize this. Whatever it is, I'm going to try to get everything back again by tomorrow to have my regular charts to be able to connect. My connection was good, but that particular computer wasn't recognizing this computer. So that's a problem. In the meantime, rear legs see. If you look at these narrow little candles, title candles, it's suggesting that there's a slowing down of the upside momentum. Just make it as simple as possible. And with this 50-period moving average acting as really good support, it says right here at this line around about 3.34. And where are we right now? We're trading at 3.40.03. I would say that that should initially be very strong support. If I go to the SPI, and I'll just mention that this S&P has come back a bit. It's now up eight. The SPI's made a new recovery high. And you can see very simply this is peak A, peak B. And he has legs C now in the S&P. Is that what I had before? Oh, no, it's not. I just did the Dow. I'm not used to this. I have to type in the letter. So to say that doesn't look like the SPI. Yeah, so the SPI has had an alternate count. But this is, for me, absolutely imperative. This peak on the left side, that's Friday, was 431.99. Missed by one penny going to round number high. Today, the high is 431.26. That's saying that we have, unlike the Dow, which went into a new recovery high. Just double-check. Oh, got to type it there. D-I-I, here we go. So I want to put the whole package together. Again, the reason why I want to do it today is to show you that in the order of, in the mechanism of the Chapman wave methodology, what we're looking at, yes, this made a new recovery high. Look at the QQQ. I have to type it in over there. And I have to thank IBD for allowing me to, they didn't allow me. I'm just using their charts, because I had to grab something to do and I wanted it to be live. So QQQ right now has not made a new recovery. And this all fits together beautifully. I would have loved to have seen the Dow not making new high today, but a new recovery high. And then everything tomorrow has a big spike up and then I get my leg, D, and I say, okay, now we're ready for anything that happened with any economic news, whatever it is, it doesn't matter. Because this is the moment where you could start to see a deeper pullback. But if it extends upward, that's fine. We are long, both the Dow and the three times long Dow as a trade. So the short term long, and that's the one that is a trade. We still have a core position from back in October. So the QQQ, you can see, look, the relative strength arched over and now this is this tiny little thing. I hope you can see it. It's failing to make new recovery highs. So sorry to... But you can still go higher in price. This is just one medium, one expression of the technical veracity. IWM, that's the IWM is the Russell 2000. IWM at this stage is up... Yeah, it's up from Friday. Friday was kind of weak. Today the IWM, the Russell 2000, 186.32 was the high, 184.22 is the low, trading down at 186.19 is trading up at $1.60. You've got a break coming up, Basil Chapman. Out of town. Be back in a moment. We have exciting news, Tigers. This June, Tim Ord of the Ord Oracle will be hosting two webinars providing insight into his renowned market timing methodologies. On June 8th, Tim will delve into the S&P 500, teaching sentiment indicators, identifying market bottoms and divergence, and so much more. Tim pivots to the gold market, taking a look at cycle analysis, ratio studies, advanced decline indicators, and other important tools for analyzing this sector. Sign up today on 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. And 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. Everything in the universe is governed by the Fibonacci sequence. 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If you're looking for potential trading setups in the stock market, then Rocket Equities & Options Report is a newsletter you should try. There are options and equity trades when the markets present them using a combination of fundamentals and technicals. Sign up for Rocket Equities & 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. Hello, everyone. We're looking at the IAI. Now, this is important. This is the Broker Dealer, UTF. It's down, and it did really very nicely. It was saying, hey, I'm looking quite good. On Friday, it hit 91.18 as a high, and today the high is 90.62. It is down 1.69. To me, that's just a warning to say. Everything is looking so great. If you look at the XLF, which is the financial sector, the XLF is trading right now. This is XLF, S&P select financials. Coming back a little bit, did pull back earlier on. Had a high, high Friday peak A, peak B. This is legs C at this particular point in the Chapmany methodology and it's trading the higher on Friday with 30 feet 29. Today's high is 30 feet 27. It is up 8 cents, but I'm watching this closely. This is a good KRE because that's the regionals and I would like the regionals to actually be doing very much better than the XLF. Maybe they'll go together, but I would love to see the regionals start to lead to say within the money center banks they've had a good move off the low, but the regionals which were just clobbered, you see this beautiful look. It's almost like a shoulder, left side shoulder and head is inverted in shoulders. Yes, the head. Yes, the right shoulder. That's not the pattern that I really like. The pattern I really like. I would show it if you had my charts using trade stations technology with the tools, technical tools, all the drawing tools. I would love to draw the cup in there and say, look, this high that was made on the 19th of April at 44.59 last week. We went to 44.98. We went 40 cents or 30 cents above it. That's a good sign because if you're looking at the cup formation, it's not really a cup formation. I'm just saying from the left side, you come down in the same number of bars from this point right here, the midpoint, the low of the 4th of May which is at 36.08. The low that was made on that particular session, the gap down low and then it sort of filled it and then moved up. This is like a staple. Look, you've got your left side, you've got your left side and you've got that pin that in the staple pattern itself. Now you've got the right side. So the whole area going up into this resistance of the 21st of March of 2023 at 46.47. So far from it, but in the market sometimes two points on a $40 stock can actually be a lifetime because it has to be with upside thrust. But in this particular case, you're getting a nice cup formation right there. I'd like to see it move. I should mention we are along the KRE, but that's not the issue. The issue is just for clarity and for disclosure purposes. Most importantly, we're pushing away from this 200 period, the red, a 50 period moving average. And the further away we get, it has to start the ellipse on the right, the quarrel on the right, that's the quarrel of a semicircle needs to start moving up. That's really important. So within that context we always look at Bank of America. I'll have to type it in right in that little rectangle there, BAC. Bank of America is trading right now. It's got a good session today. It is up 4%. It's up 4 cents. 4 cents at 29, 27. But that's not good. It needs to trade for a full week above 30. If it can start to trade back in the 30s, we should hit just for two sessions. Back in mid-April, April the 18th and the day before the 17th, up into the 29 to 30 areas hit 30.93. But it couldn't hold it. It just couldn't hold it. It needs to get back and hold. That'll be a real good sign. So you can see as I'm putting this together there's a lot of selectivity now. This is what I wanted to show you. Within the context of bots which is the, oops I have to put it in over there, you've got a symbol, of course you don't get a BAC. Oops, where am I going here? Mouse, start working, thank you. B-O-T-Z. So bots is the Global X Robotics and AI. This is very interesting because the high that was made a couple of days ago back on the 6th of June at 28.70 today's high and it is up a little bit today's 27 cents is 28.53. But that V-shaped pattern, that V-shaped pattern can be quite potent as a reversal area except you always have to look at the character of the chart. Remember the character of the chart tells you what it is likely to do in repetitive situations and in other repetitive situations on the way up when it made a V-shaped pattern certainly in the last month and a half it's gone to a higher high. In this particular instance we're going to have to wait and see if it goes to the higher high. The rent of strength is at 92. I'd say that's pretty darn good. But I don't just use that. There are other techniques we are along this particular instrument. Most important I just wanted to show you because the AI section has been spoken about so often. So I had a question about AI. I believe that P-L-T-R has AIR but it has high tech that has been invoked for the last month or so. So it's trading right now. The question was where should I add to the position? I have a position and on last week I think it was maybe Wednesday or Tuesday it went to 17.16. 17.16 and then I had a pretty severe pullback to the 15.19 area to the 14.39 area and now it's trading at it's up 8.86 at 16.03. Suggesting was going to be I thought I'd be doing this show live with that actual chart based on the China Way methodology. I have to do it now by AI a little bit differently. It's suggesting that Friday would have been a good day just to add in two separate nibble situations. I wouldn't have said to get fully in because that big red candle reversal that's I don't like that kind of candle. It's an evening star but actually it's more like a doji closing at the low. A little bit of a mini hammer candle. But we've filled in all the way from the low that was made the following session we were just making higher highs for two days. So that just says to me you're going to have to wait because it's in the area I would normally just draw a square around it and say it's stuck in this range. It could go back to the high that was made on the 7th of 17.16 PLTR is Palantir Technologies and I would say just wait you want to see on the next pullback how it handles the low of 14. 16 now I think it was high the last low was 14.39 and so I can't say to you to add right now I could say to you on a trading position because if we're only in leg C in the down there should still be a pullback for peak C and then we spike up to leg D that should kind of follow because the pattern right now looks quite similar but in this particular instance I would say it would be a split entry on a small position add on position and the one would be right now I'd have a very tight stop and I just treat it as a trading intraday thing but I know that you like to get your positions in an organized way I'm just going to say I would have patience I'd wait for the low 14 and then we'll be in touch so I'm going to wrap it up for this section right now the Dow is up 53 S&P is up 9 they're holding very nicely and the E-mini is up 70 Nasdaq is up 78 I'll be right back that's what you have to take it with your own Steve Rhodes started his trading career as a student almost 20 years ago and the student has now become the master Steve won the prestigious Timer of the Year award in 2018 and barely missed that mark again in 2019 finishing at number two for the year an amazing accomplishment Steve Rhodes is committed to sharing his techniques and knowledge with anyone who wants to learn and he shares his vast amount of trading knowledge every day in his mastering probability newsletter Steve's award-winning newsletter mastering probability is delivered every trading day with updates throughout the afternoon sign up for Steve's market newsletter mastering probability and you'll receive access to seven days educational webinars absolutely free at TFNN all our newsletters come with a 30 day money-back guarantee so you have absolutely nothing to worry about visit TFNN.com and try mastering probability 30 days risk-free today TFNN Educating Investors a variety of professional traders during market hours and now they are expanding their reach with the Tiger's Den available to all Tigers and Tigresses for just one dollar for the year there's no cash or added costs when you join our community of traders in the Tiger's 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 Tiger's Den and 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 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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Watch online at TFNN.com or on TFNN's YouTube channel and become the investor you were born to be TFNN educating investors for more information just click the thinkorswim banner on the front page of TFNN.com Hi folks, this is Charles O'Chap Monday the 12th of June and what we're really looking at here is the charts that you see are not my usual charts I've had a technical problem I'm just using this as a means of communicating to you I didn't want to not do today's show I plan to do it so hopefully I have everything organized by tomorrow I'm not sure about that we'll see so a technical problem that is so what we're looking at is the TLT is down 62 so the yields are going higher I thought I'd go through a couple of questions that I had one was well the number of them so let me just go through these shop this is Shopify Shopify is online retail online I guess you can do a lot of things with Shopify I believe TFNN even uses Shopify so online they organize how sales are going I think that's the way it is so it's trading up today you see this cup formation right here it's a kind of a jagged cup if I can get the mouse to look nasty nasty there it is holding axe pattern right down there and then you've got a cup formation that says there should be an attempt to get to the high of last week which was 15 64.82 the previous I was 65.54 back in May May the 10th so this pattern often suggests that there's going to be a resistance area that is strong enough to keep the price in a trading band if that's the case then what we're looking at is if you look at the larger context going back to May of last year look when it was down to the 42 area actually I think it was 48 48.80 that's it on the 4th of May back in 2020 it also made this kind of jagged within a kind of a rectangle formation then broke to the top couldn't make it and then pulled back this one's tighter and in this particular instance look at the difference you see this red line the 50 period moving average was just plunging in this case it's moving higher but it's getting to a point where this is perhaps where you can start to see it slow down that's a moving average so I'm looking at this and saying you've got a stock that's gone from the I think it was 20 in the 20s as a low and now it's up in the 60s had a fantastic rally it had a huge decline so this is just saying to me Shopify is in play and the question was where do I think it's going I haven't got the chart that really helps me but I think it's going towards the high of last week but the whole area it'll be fantastic right now it's trading at I have to click on to see trading at 62.83 it'll be fabulous if we can go to the high of last week of 64.82 and then attempt to get to the 65.54 area this is the resistance and this is the time period that it should be trying to make that run to the upside now if you're long out there believe the person was long I just can't recall if I try to I looked at it all I can say is that within the context of it's up $1.67 right now 63.03 within the context of what it has done how it has really had a high level consolidation for a month just over a month if it breaks out if Shopify on a weekly basis is able to close above 66 any Friday or the next Friday in the next two weeks I think that would be fabulous actually it's right the base of support is a very sharp pullback it'll take a tremendous amount to fill that gap the gap was the high I'm sorry was the low of the 4th of May which was 57.30 and just the day before the high was 47.97 that is huge talking about gaps and huge all I'm saying is that you're in it you just want to know where it was going and my answer is I think it's stuck in a range and it'll be fantastic action if it can shoot into the 64s and the 65s this week using this week as the promulgator to really exacerbate the move that started about two weeks ago right at about 50 was that 57 I'll just double check right now yeah 57.94 and that whole area between 50 57.5 between 57 itself round number 57 and 58.20 that's your key support going into Friday of this week this question was could I look at oil unfortunately I can't look at the SCO which is the pro shares ultra short and look how it's spiring from the look of the chart last for a couple of weeks now it's making the H pattern that goes to an M pattern and then it breaks to the low level this is making the U shape pattern that goes to a W pattern that says that high that was made on the 4th of May of 20 now 30.02 that would be my short term target if it closes near the high of the day to day if it pulls back today it could be a target but it won't be an immediate target and that's the way I'm looking at that one we're looking at the question came in oh that's right a rig so this is also in the oil sector the rig is trans ocean if I can just find it RIG there it is trans ocean at oil service it's trading down oh down 33 cents at 591 huh I was 611 yeah this is just confirming for me that the whole oil sector is struggling with the oil service area held very well now we'll see whether that's going to be pulling back question came in about rubblex rubblex rblx keep typing on the chart I should type in right there rubblex which is which is good software for video games almost the same pattern as RIG see look arch formation comes in M shape formation there's your 200 period moving average this is the simple moving average will be in a different place to what I like to use the exponential but it's trapped between the 200 and the 50 period moving average the pink line and the 200 I suspect it's going to pull back a little bit more this is in the area of those stocks that were struggling so that takes me to hack which is another question I had oh I typed it in again so the resistance in rubblex is 40 and at this point it's trading I think it's 39 something like 3909 upper fraction it's really just stuck if it starts rubblex starts to trade under 3670 that's a big problem because it creates that arch formation hack is what we were looking at next HACK hack is the this is the ETF for prime cyber and it's doing very well held very nicely it's at the top of its range yearly range actually going all the way to September of last year that high was trading at on the 12th of September it hit 4929 then it kept plunging down into the 40s and right now I hear the music but I'm just saying to you this is a high level consolidation so it's telling me I said it's been buying here I better talk about it when we get back because this is important I'll put it together with the club a Basel chapter target mission seller now is up 10 oh you've got the chapter methodology working here it might go negative I'll be back in a moment 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 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 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 30 days risk free with our money back guarantee at TFNN.com TFNN educating investors biotech is booming but for how long whether you think the biotech bull has room to run or has run its course trade LABU or LABD directions daily S&P biotech three times bull and bear ETFs visit directioninvestments.com 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 866-476-7523 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 for side fund services LLC this program is brought to you by Vista Gold traded on the NYSE American and TSX under the symbol VGZ that's part of the cyber security ETF bug is also bug is the cyber security GIX that's a global X cyber security it's not quite I prefer the hack as the pattern that I out of the two but this is acting quite well today it's up a little bit it is at up 21 cents at 23 0.94 yeah it's acting well I prefer the question came in over the weekend which one do I prefer I prefer hack to bug well that bug is the one that is a little shorter and kind of more specific but hack is really the one that I'm looking at so question came in about fuel cell fuel cell is fuel cell energy it's trading up very nicely today this is one we've been following it's actually on the list that I have for my subscribers and opening call I have a little part called screamers with stocks that are under ten dollars this is always there we've had it once or twice we've had it for a while it acted very poorly Thursday and Friday but now it's testing the high of Thursday so it's trading at it's up 21 cents this is a $2 stock it's trading at 254 high was 256 the high from last week was 259 I think it's trying to get there this is that V-shaped pattern the relative strength is improving a lot and the relative strength is improving the time I would say improving is the magic word here should be much higher than that but look it's turned the corner in the sense that you see this two doji can three doji candles at the bottom here when it made the low on the 26th of April gap tie hasn't even filled the gap even though it's had sharp moves up and very sharp moves down so this is really important because what it's saying is at any point in June today is the 12th so it's nearly midway wow June's is flying huh so by about the 22nd 3rd or 22nd to the 24th of June if it's able instead of retesting and then breaking the low of Friday which was 233 it actually doesn't have to close it just has to hit into this candle right here the candle of the 31st of March which had a high of 29 and a low of 275 it just needs to hit it once and all of a sudden that says the magnet of this particular 200 period moving average which works quite well with this particular chart maybe even a little better than the exponential it says that that level of three dollars and seven cents becomes an attractor, a magnet but it has to hit it once this is the kind of rule I would make on this particular start if it hits it once and then it digests as a couple of days of digestion at any point if it can get to $299 or $3 that 307 level is just going to be a magnet it'll want to hit it then you've got to be very careful although it would be making not a cup formation a very jagged cup formation moving towards the upper side saying that the tide has gone from turning down to low tide reversing the tide trend itself the major trend is turning to the upside it says that a whole area of the 250s becomes extremely good support next question I had a written down here if I could just find it oh packaging Basel you mentioned packaging core of America what is that telling you now the reason why I always look at this stock packaging core of America doesn't this really tell you a lot I mean everything when you think of can you imagine how many boxes and packets are at the Amazon warehouses and I'm going to look at all of those stocks in a moment but those warehouses so packaging is imperative and it tells you about put this together look at this chart here look at this big arch formation starting it's attempting to make higher highs on the right side and hopefully high lows put that together with Amazon here we go these are two different companies all together but the one uses the product I'm sure I don't know if it's from them but it uses packaging look it did exactly the same thing it's store it was making an H and they made an M pattern all of a sudden which is trading up a little bit today it's trading at $12502 $1.58 this cluster pattern with this I normally do a rectangle here saying it's at a high level consolidation which says the longer it stays here the greater the chances are it's going to go back to the one teens like the one 18, one 16 area and this decisively breaks out and turns us into support but that's the pattern I would normally look for in some kind of a pullback acting very nicely so it says if you're looking at the whole area of packaging it hasn't really caught I would anticipate that the packaging core of America if they're telling us about the products being bought that are packaged should be higher and if you look at the retail sector itself look RTH oh I always tack that in I'm not used to this other system and I have to say thank you to IBD for the background charts right here look RTH the retail sector with Amazon starting to move up a little bit but not great but it is moving high and you've got a cross a positive cross of the 200 period the 50 period going over the 200 period moving average I must say I use that just as a pretty visual visual but until it stays that way because sometimes you can see what happens it does it and then it turns around the other way very quickly after that this particular case RTH is different to the XRT the XRT XRT that's the S&P and this is a little different chart look at that nice move up now it's stalling a little bit so we've got a leg B maybe a peak B today starting right at the 200 period moving average this is the simple moving average but I'm pleased to see that it is running but as a chart retail chart S&P spider retail chart number one uses as Amazon is a big percentage the other one uses as it is a capital base now what we're looking at is it's had a good move it has a pullback it might attempt it it's done this before if in June any time in June the XRT trading right now in the 63 did not say 61 area 61.5 but almost at 63 I did that on Friday 60 in 1995 if at any point in June it can trade on a closing basis two or three day basis not a weekly but a two or three days above the 64 38 arch high that was made back on the 12th of April that'll be the first sign that I could say you know what I think we've turned a trend here the general market should start to move high I'm in a different camp right now I'm in a camp that says let's just go back to the DI oh oh look at that the Dow I think dip negative just briefly now it's up 28 yes I think we got that chapter we have Trin gauge reading that said there should be a negative Dow Monday morning well okay so with that said these these particular areas are telling me that there is a very good chance that just let me go back to the diamonds for a moment that there's a lot of resistance in this area how we take that out in the diamonds which is the Dow trading 34,000 above 34,000 would be really important we've got a break coming up and I just want to do mention before I wrap this up I will try to get my system working my connection working the rest of the day I'll spend time on that hopefully I'll be back in normal and for subscribers I did send out a note we did almost nothing today hopefully tomorrow I'll be back we have exciting news Tigers this June Tim Ord of the Ord Oracle will be hosting two webinars providing insight into his renowned market timing methodologies on June 8 Tim will delve into the S&P 500 teaching sentiment indicators identifying market bottoms and divergence and so 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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 about this final segment I'm going to show you the SMH is to see this cup formation I like to measure I don't have my other tools here but I like to measure how the right side is doing to the left side in a vertical test but in this particular case the high that was made in the semiconductors look on 151 point 71 on the 30th of May today's high so far it is rounding it's up 2.81 that's very good it's at 149.91 how it deals with this so everything I'm looking at suggests in my work and I could be wrong I'm saying that I'm anticipating that we do get that leg D in the doubt this week and at that particular point I'll do a vertical test and seeing how from last week to this week the NASDAQ, the S&P the Q's themselves not just the NASDAQ composite and the SMHs how are they doing because everything about it says that the technicals on the indexes that I'm following closely are still very strong but the notation in the chapter says we're getting really close to some kind of a pullback but I'm thinking I have to wait for a peak C and then a leg D to the upside to make that decision in the doubt that can happen this week but that's what I'm looking at so the SMHs acting quite nicely today when you think about the incredible move that NVIDIA did and then sort of stalled I'll see we're in right here is NVIDIA trading look at this that gap it hasn't filled the gap but it's getting harder and harder for it to hold the gap I think by next week we'll be inside that gap below so