 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. Looking good feeling good Lewis. Welcome to the happy Monday of July the 15th and we are taking a look at the German Dax. Folks this thing was rocking and rolling so much last night you wouldn't have believed it. We opened lower and immediately rallied 150 pips which is a lot in the Dax and came down and actually this is a little bit late because it did go down and make a new low down there at 122 we're trading at 123 60 or 70 right now but that was really wild. I mean straight up and straight down and virtually not much news involved at all. So that market's pretty pretty wild so we need to pay pretty close attention to that if you're following the German Dax. Now if we take a look at the FTSE FTSE was a little bit the same way but not nearly as much volatility as we're seeing with the with the German Dax. These are both hourly charged and you can see the difference here. There was really not much movement in the FTSE versus the other versus the German Dax. So we'll see the Dax of course is in a downtrend. They're both in downtrend since July the 2nd but they're a relatively strong support as we come in here today so we'll pay sort of close attention to that. Folks you know what? It's time for me and Walter to head out into the desert and I'll tell you why. I turned on Bloomberg this morning to see what was going on in these two lovely ladies one from New York and another one from London were on I believe they most might have been 27 years of age and they were telling us about the wonderful situation going on in Europe about negative interest rates. They knew now you know it was not bad enough to have negative interest rates on corporate paper. Now they have negative interest rates on junk bonds. Where's Mike Milken when we needed him? Folks have I lost my mind? I mean you know I look at this and I say you know people tell me yeah this is going to be because of inflation and all this. That doesn't make any sense to me at all. Why would you give someone money and pay them to take their money and they're not going to give anything back? I mean that breaks every single rule from 7,000 years that I can never figure out. This is ridiculous. Well you know I got to get off my soapbox. I just I want to bring a couple things historically to you okay. Back in the late 70s Milken started in 72 at Drexel. I started in 76. In tremendous success he had a great idea. His idea was to change junk bonds names into high yielding bonds because interest rates were going through the roof. He had triple A corporate bonds in California yielding 16% tax free. They were callable. That was the problem. They only lasted for two years. The Treasury bonds were trading for 54. They're 154 now. So interest rates were very very high. His idea was if they had a company that needed money they would call them high yielding bonds instead of junk bonds and that worked and it did really really well. And it would have still worked if he hadn't gotten greedy and got into what do you call that stuff insider trading and stuff. So anyway that's the thing that's what we're looking at here is this interest rate situation. Now we're having a little bit of a bounce today in bonds. We're still down four handles from the high. I believe that high that we made back there at 157 in those bonds is going to be a high that's going to be held there for a long time but maybe I'm totally wrong. That's all I can tell you. The British pound trade is working really good. I suggested last night that you might want to take profits because it's up about a thousand bucks from the bottom which is a pretty good move and buy it back on a little bit of a pullback. Whether that'll work or not I don't know but nobody else does either. But as I was listening to these two young ladies talk it reminded me of a situation that happened to me here 20 years ago in Tucson. Jerry Pegdon who had worked for Henry Kaufman at Solomon Brothers. He was a PhD from Yale and he was a right hand man for Henry Kaufman and Jerry was one of my students and I taught him how to trade the S&P and the Euro and stuff and he came out here to live and he became friends with Bob Minor and he and Bob worked together and put together the dynamic trader but one of the evenings that we were out telling us the story about how junk bonds were viewed by Solomon Brothers. They were having this meeting in the late 1970s and it was at the partnership meeting for Solomon Brothers and Henry Kaufman and if you're back in those days Henry Kaufman was equivalent to Bernanke and all these guys. He wasn't a Fed chairman but boy when he talked everybody listened to that dude and he really did and he got up and he said if we decide to go into junk bonds at Solomon Brothers my partnership is available right now for sale at 50 cents on the dollar Jerry said you could have heard a pin drop he said there were 20 some people in the room and he said everybody was just struck and like lightning and he picked up his papers and they walked out of the room and they never went into it. He was in the room the comment was after Henry Kaufman left the room one of the partners got up and he said well he said if that tight SOB doesn't want us to go into it I don't want to have anything to do with it either and the vote was 22 to nothing that they didn't go into junk bonds and that saved him a great deal of money. They wouldn't have had any problem like what Drexel did because that was mainly based on insider trading but that's I don't want to get into it any longer but when I was watching these two young ladies giving their speech I remember what Art Cashin told me once when I saw him back in New York and he repeated it on CNBC more than once he said I always have trouble taking advice from people that are not old enough to shave and he said that includes the girls and everybody at CNBC absolutely broke up on that but anyway I just doesn't make any sense to me at all but we'll see you know how these things actually work in the long term we'll have to wait and see. No guests today folks I think we got guest out last week doing a double show but we'll watch it keep a close eye folks on the crude oil that is one of the things that we have on our watch list this week we also have a watch list on the grains there due to top they were higher overnight and then they started to roll over a little bit so that's another one we want to be looking to be a buyer if we could get a 3-5 day pullback in that I think it would be something to look at when we come after we get to the break we'll talk about the stock peak oil that's right I can remember that Marshall when the Goldman Sachs came out with their special report of $200 a barrel crude oil back in 08 when it was topping at 144 and boy that was that was a big move I had a lot of fun in that one anyway we'll watch these as we unfold today the gold and silver still in tight trading ranges we'll discuss those when we come up to the break but right now what we got to do I think we got a break coming up here if I'm not mistaken here when the old music starts and we get back from that we will talk a little bit about the gold and a little bit about the silver and then we will find out what direction we're looking at in some of these things so it's exciting today market making a little bit higher high I'll discuss that too next we'll talk about the stock market next then we'll go into gold 877-927-6648 the Taz profile scanner is the most revolutionary piece of trading software that you will ever try wouldn't you like to approach the markets with confidence? as you begin your trading day it's likely that you'll be faced with lots of decisions in order to make the best decision the first thing you'll need is a strategy that will help you minimize your risks whether we're in a bull or bear market a good strategy is to have the tools needed to help you scan and analyze the markets before you trade the Taz profile scanner instantly scans and filters over 2,500 global financial markets such as stocks ETFs, commodity futures and forex headed by Steve Dahl president of Taz market profile the Taz profile scanner understands that in today's technological world the use of top flight software applications, automated trading algorithms and technical analysis expertise is essential to successful trading in today's market whether you're looking at the trade matrix the ETF heat grid, the market breath the landscape charts or the many other features of the Taz profile scanner this is a piece of software that will revolutionize how you look at the markets and set up your trades the team at Taz has even put together a 12 part video series to walk you through every aspect of the Taz profile scanner which you can find directly on the Taz order page at TFNN.com sign up now for only $197 a month with the risk free 30 day trial so you have nothing to lose and everything to gain see for yourself how you can harness the full power of the Taz profile scanner by visiting the front page of TFNN.com today and you'll find the Taz profile scanner under the services section remember with a 30 day money back guarantee you have nothing to lose don't let another day pass you by without trying out this amazing piece of software that will revolutionize how you look at the market and how you place trades sign up today the Tiger's Den is a lively community where professional traders and investors can meet exchange ideas and information in a comfortable moderated atmosphere hear all of the TFNN shows plus see all of the charts as they happen live and have access to archives of all of those charts you can test drive the Tiger's Den absolutely free for 30 days and greatly enrich your knowledge of these markets and how to make your money work for you details on the Tiger's Den are on the front page of TFNN.com today you can still visit us at the same TFNN.com URL but when you do you'll see a new and improved homepage with a much simpler navigation whether you're watching Tiger TV live in high definition or just accessing your newsletter subscriptions we even have new pricing in 6 months and yearly options check out the new TFNN.com now and experience all the upgrades TFNN.com educating investors toll free via all the and I don't know what I did wrong but the old the technical difficulties I don't know if you people can hear me or not Lari Pezzavento has just opened his brand new service Fibonacci 24-7 and he's already delivering content to his subscribers on a daily basis when the market is open Well, all I hear is commercials in the background. Well, anyway, take a look at this Bitcoin. It looks like it's getting down to this level. We're real critical level now at 10,200. And that's a small ABCD look at it. Remember this an hourly chart, so you get quite a bit of action in it. So pay attention to that. That might be very interesting. But I would be waiting for the longer one at 8800. Folks, I have never put a dime into this particular thing, so we'll have to wait and see. I do have some good news, and that is I am going to be working hand in hand here at the old Pueblo in Tucson, Arizona with my good friend, John Jamison, who's going to be coming over to visit me. And we're going to do just like we did with little Mark Douglas. We're going to work every day, the usual 12, 14 hours a day. John has got some of the most exciting things I've seen. He's going to tell me a little bit more about cryptocurrency. He's not a little help because that stuff is three or four levels beyond my pay grade, but it's going to be interesting to see some of the other things that he's done with the markets. It's just using the opening price as one of the things. You know, I will have him on the show, yes, because the time difference will no longer be a factor, but I know if I can get him to do it. But I'll get him to come in and we'll have a session here or two because he's really smart. Just let me give you an idea how he thinks on some of these things, folks. When he's looking at patterns, he just doesn't look at them, you know, like we do, you know, just straight X, Y. He looks as a 3-D. And one of the things he looks at is this happens to be the Euro. And I can't explain all this stuff because it's all pattern and ratio and volume. He has a volume price oscillator that he used there that as prices move, you know, the volume, you know, fuels the thing. When there's no volume there, you can still have big moves. But those are some of the things that he's doing. And he's been my student 16 years ago and I've kept close contact with him all these years. So that's it. Okay, we covered the Bitcoin. Let's get over to the stocks. I wanted to bring this to your attention. This comes from our friends over at Stockcharts. I do some work for them once in a while with some of the other folks like John Murphy and stuff. But this is the New York Stock Exchange Index. You'll see it has not made a new high. It's still below the high. Remember, this is the biggest, broadest of all the indices is the NYSE. If you notice that the New York Stock Exchange Advanced Declined Line did make new highs. And you'll notice the NASDAQ did make new highs. And you'll notice that the Advanced Declined Line on the NASDAQ did not make new highs on this. But this is just possibly a divergence that may or may not mean anything. I don't know, but you know the best part of it. Nobody else does either. So that's the main thing. But if we look at the, just take a look at the Russell folks. Now Russell was very, very quiet last week. And if we take a look at this, you'll be able to see here is where we are. We do have a potential head and shoulders pattern here in the Russell. Now remember, this is when the Dow Jones and the NASDAQ are making new highs. So this could be major divergence. This is a small cap. So pay attention to that. I want to show you one other chart in just a second. But I want to remind you that the volume that we've had on this move, especially the last few days, has been very, very sparse. The open interest is still going up in the stock industry futures for the S&P, but not for the others. The NASDAQ and the Dow Jones and the Russell have not had, well, the Russell's had small increases in open interest, but nothing like what we're seeing in the S&P 500. But since we were looking at that, I want to bring back history a little bit. Here is a chart from Bert Domen of the Wellington letter. I've known Bert for a long time. Actually, I worked with him for a short period of time when he was in Hawaii. And let's get this up here and take a look at this. I want you to show this. This is the value line index. This is, you know, I didn't even know they still had the value line index. Back in 1983, the value line index was higher than the NASDAQ. And Byron Tucker put on a spread. He sold the value line index and bought the NASDAQ as a spread. It was some ridiculous figure. It was way up there. And that thing made a lot of money over the next six months. If Byron would have just walked away, that, well, you can imagine what it's done. But you'll notice here, there's a big divergence here. And the value line is basically made up of 1,600 stocks from the New York Stock Exchange Index and the American Stock Exchange, which are really small companies. So I can't really say too much about this. The one thing I do want to mention here is if you look at that blue line, what we show is the 21 line. That is, you know, hanging there pretty good. So this might be very, very interesting here, you know, to pay attention to this. We'll see if that's it. We'll have to work and see whether that'll work out over a period of time. But anyway, that's just another indicator that there is some divergences happening in the market at this level. But, you know, Heaven only knows, you know, where it's going to go from here, but we'll have to wait and see. Now we just almost made a new high here in the crude oil. Let me double check to make sure we didn't. I thought we were going to get close to it. Nope, we haven't done it yet. But we're in an area here where crude oil needs to be looked at from the short side in our opinion because it's up against this major resistance. If we get above the 61-60 level in the crude oil, then I would say, yeah, we're probably going to go a little bit higher. But right now, the odds are saying that we should be looking at a potential here for a move on the downside in crude oil. Whether that's going to happen or not, you know, we'll have to let the market tell us. Okay, let's move on to the gold and silver. We'll put up the gold here first to take a look at it. Here, I'm using a four-hour chart in the gold. And the reason for that is it's really easy to see. We're trading around 14-13, 14-14 right now. We got up to 14-19 last night, which was a 61% retracement from the high two days ago at 429. So we're making these little series of lower highs, possibly lower lows. But I really believe that we got a chance, and I say this with tongue in cheek, of course, to get down to that 13-80 level, which is a 3A2 of the whole move. That's the one that I'd be looking at. But if we start to get high strong in here and start closing above 14-42, you got to pay attention to that gold market, folks, because that thing could really, really take off. You know, it's got all the things necessary to make it go higher. You know, they've been hammering it for a long time with all kinds of news, whatever you call it. But the gold has got possibilities to the upside. Right now, we're just in this trading rain since June 24th, and so, you know, nothing's really happened yet. But that last move down, if we could get one more move down to 13-80, it would really be a beautiful pattern. So let's pay a few bills for Tom O'Brien, 877-927-6648. Larry Pezzavento has just started a brand new service, Fibonacci 24-7, and he's already delivering content to his subscribers on a daily basis when the market's opened and even on weekends. Each Monday, you'll receive Larry's written report that provides detailed commentary and a summary on the charts and videos that Larry sends out. And throughout the week, when warranted, Larry will send out via charts or videos or both the key markets that he is watching during the day. This will be up to the date active trading information that will help you in your daily trading. In Larry's first week alone, he sent out 25 charts, six videos, and a full report to his subscribers in just one week. If you're a technical trader that uses patterns and retracements to trade, then Larry's service Fibonacci 24-7 is something that you must try. Right now, new subscribers can get a full 30-day money-back guarantee. With nothing to risk, sign up now to Larry Pezzavento's Fibonacci 24-7 by visiting the front page of TFNN.com under Trading Newsletters. The path of least resistance is David White's daily trading newsletter, and if you're looking for active trading ideas, then now's a perfect time for a 30-day free trial to this powerful daily trading advisory service. David uses his years of trading experience to offer his subscribers his trading ideas each morning in his path of least resistance newsletter. Using a combination of equity trades along with options, David keeps his subscribers up to date with all pertinent market information with intraday afternoon updates when warranted. Don't miss out on this great chance to get a 30-day free trial to David's daily newsletter, The Path of Lease Resistance, with no obligation to pay anything. David has been delivering solid recommendations for his subscribers recently, and if you'd like to see the type of newsletter he delivers every morning, then visit the front page of TFNN and you'll find The Path of Lease Resistance under Trading Newsletters. For all the details and to start out today, log on to TFNN.com now. TFNN is excited about our new software charting program, the Art of Timing the Trade Chart. In collaboration with Tom O'Brien and using his best-selling book, The Art of Timing the Trade, your ultimate trading mastery system, David White has programmed an outstanding piece of software that will complement any trader's methodology. Using this first-of-its-kind program, the Art of Timing the Trade Chart allows you to scan thousands of stocks and sell set-ups, including Gartley's, ABC's, Butterflies, and much more. The Art of Timing the Trade Chart is designed to help you when scouring markets for stocks just beginning to form the trading patterns that many investors spend days, weeks, or even months searching to find. And right now we're offering licenses available at only $79 a month. We are so confident that you're going to love this new charting software that will even give you a 30-day unconditional money-back guarantee. Get your copy of the Art of Timing the Trade Charts today by visiting tfnn.com 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 Okay folks, I posted the chart for the high-yielding bonds, junk bonds, HYG, and as you can see we did pop up above that 78% level. And it's certainly, it's all interest rate related. Even the utilities continue to hover up here even though we've made this 3-drive to a top pattern in the utilities, it still hasn't gone down as of yet. So we'll have to watch that. I'm sorry I focused too much on that negative interest rate stuff folks, but people ask me questions about it and I frankly, you know, it just does not make any sense to me. So I'm, you know, Byron has tried to explain to me why it could happen, but I'm just too old to figure it out I guess. Okay, let's move on here to take a look at the platinum market. Someone's asked us to take a look at platinum. Platinum used to be the leader. Now it's not doing very much. We're still in this little bit of a downtrend. Slight up trend and we have three higher bottoms here during May, June, and July. So that does have a positive bias as does silver. Silver is acting like it could go higher too. And I believe if we can get silver above $16 an ounce, which I think we're going to get sometime, it would be pretty easy to do. Now the thing that the precious metals have going for them, if we have very low interest rates for one thing, that means the carrying charges for holding these things. In other words, the storage and insurance, you know, insurance is lower because the prices are much lower and so they don't have to worry about the carrying charges on some of this stuff. So that makes it easier to hold these longer term. So, you know, I'm a short-term trader. You know, long-term to me is $8.30. Well, it's $6.30 here. Anyway, let's move on to another question that someone's asked us and that is about one of the fang stocks. I want to bring it up here to talk about it because this is one of the charts we were looking at this past week. This is Netflix. And all we were looking at here, as you can see, that there is a little cycle component that's been there. And you'll see it has been pretty nice over the last three cycles. And it usually only works for three. And we're in the second one right now. And you can see Netflix sold off from that level of $385. We're down at $373. So that's what that cycle looks like. That's just a sine wave counting the number of days between February and May and May until July. That's all that does. It just counts that and draws it on there to show you that what the symmetry of the market is. Now, if you were to expand this over to the left, it would show you that the first part of this cycle actually started on the exact bottom of December 26. And that's the problem that you have as these things shift back and forth. And even though the harmony is there, you know, when it's a high, it could be making a low and vice versa. That's why you've got to look at it as a potential turning point. And that's what I do when I try to look at some of these astral formations that we look at. And speaking of that, we have a beautiful lunar eclipse and full moon tomorrow. So that'll be really quite nice. So that'll usually bring some more activity into it. And as Norm mentioned to us last week is that usually solar eclipses and, excuse me, lunar eclipses and full moons have a negative indication on stocks for a few days. So we'll see if that's going to be the case. Okay, here's a David White has given us some information about the operator of Bitcoin exchange, Bitfunders sentenced to 14 months in jail for fraud and lying to investors. Oh my goodness. How could that be? Holy cow, I think my beepers going off in crude oil now. What's it going off in? No, no, no, no, no, no. Oh, it's in the bonds. Good. Good. I'm waiting for the bonds to get up there and see how we get to that 154 level. And we'll see how that looks. So we'll get some attention to it and we'll be looking at something in the future here on that. I wanted to cover one other of the fang stocks if you'll bear with me here for a second here because this one I think is important because it just got a $5 billion fine and I wanted to see how much it's up after the $5 billion. This is Facebook and we're almost ready to fill the gap up there at 214 folks. That was that big island reversal. Yeah, who would ever have thunk it with Bitcoin being there's so many scams going on in that stuff. But you know, it really the scammers must be following harmonic stuff because you can see the Bitcoin charts beautiful. I'm sure you could probably trade it on some of these things. I'm just too busy doing the other stuff, but it follows the numbers really well. That's all I can tell you. I don't know if it means anything or not, but it certainly follows them pretty good. We'll have to get back to you. The one thing I did want to mention when we posted that chart about the advanced decline and stuff folks that market the stock market is moved up this past week basically on 80 stocks. There's about 30 stocks in the S&P 500 four or five in the Dow Jones and the rest in the Nasdaq and those are the ones that have been pulling it up because those are the ones that are cap weighted and the heavier weighting in the cap gives them more weight as well. So that's why that situation is relatively important. And finally, the last one I wanted to show you with the Fang stocks here is the Google. As you can see, we're almost up to a 50% retraceable in the Google. Really nice ABCD pattern in here and it should be an area where we should have some really good resistance up here at this 1165 level, which is about 20 bucks from where we are right now. I don't know where it is. It might be above that this morning, but the news was out basically on Facebook. By the way, where is Facebook trading now folks with that five billion dollar fine? I figure it's down about a quarter of a penny or something like that, isn't it? I don't know. Someone please tell me where Facebook is trading because I'd like to just to know how much the news has affected it. Facebook, is it 202? Oh, it's down. No. Facebook got to 202. I'm sure it was high. It was 187 on Friday. Is that correct? Wow. Holy cow. Man, that's a big surprise. Are you sure Facebook got to one? David, double check that from me. I know you're you're a meticulous for your accuracy, but double check where Facebook is trading. It is trading there at 204. Wow. What's wrong with my Facebook chart? Oh, brother, old age is creeping in. Hold on just a second here. Boy, that's a, you know, it must not have refreshed. Oh, no, I had Facebook at 204 is where I had it closed. I'm sorry. Yeah, it closed at 204. It's okay and it's down two bucks. So that's right. It's okay. So five billion dollars equivalent to about two bucks. No big deal. All right. Now, regarding the commodities, we got some weather out there. It's been really nice. Grains were called higher last night. They were higher weather changed a little bit. Now they're down a little bit. We just completed some nice smaller patterns in the ABCD. So kind of keep an eye on those because I think we'll have a little bit of a buying opportunity coming in here and we'll be able to see to see this thing unfold as we as we walk through here. I also wanted to let me give you a show you this chart here from Bert Domen who runs the Wellington letter. It's a letter. It's a really expensive letter but quite good. You'll notice that he's showing the the false breakout potential here based on this index that he's looking at. Unfortunately, I don't see what the name of that index happens to be. He sent me the chart. Oh, it's the Dow Jones Transportation. So it's showing you the divergence in the Dow Jones Transportation versus the we do that in our letter every week. I'll have to show you because we do have a real interesting potential here in the Dow Jones Transportation. Fulfilling a head and shoulders pattern and just slightly higher today would make it equal to the high we had in February. Well, we have to pay a few bills here. 877 9276648 if you're in the CD market and looking for a secure investment, the first mortgage program may work for you. The security for these first mortgages are building lots in the tax opportunity zone in St. Petersburg, Florida. The tax act of 2018 set up tax free zones across the country where you can build and hold for 10 years and pay no tax on the profits, which makes these lots valuable. The investment is anywhere from 30,000 to 75,000. The interest paid is 7% yearly paid on a monthly basis. According to bankrate.com, the best rate for a four year CD in the country as of February 20th is 3.1%. A total investment at a normal four year CD rate of 3.1% would give you income of 1550 per year or 6200 over the four year period. 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The Bull Bear Binary Option Hour Next on TFNN Okay folks, during the break I'm a good friend Byron Tucker was kind enough to forward this article coming out of the UK showing the junk-rated bonds and how some of them are moving into zero interest rates. I mean it doesn't make any sense to me what's happening but negative yielding bonds is just unbelievable this happening in Europe so things must be pretty hard to get money over there if they're trying to get negative interest rates. I don't understand it but you know honestly God folks when I let's forget it that you know I don't have anything to say about it, don't know anything about it so let's move on to something else that we want to pay attention to. Let's pay attention here to this British pound folks. Let's just take a look at this. You'll see here that the British pound has had this really nice four or five day rally off of that low 2440 we were saying that to take profits in part of the position last night and then to put the stop at break even on the rest of it that's a three drive to a bottom pattern it's also a double bottom going back to last January that makes it really easy to see if it's going to hold that level because if it gets back below there again the next level on the British pound is down about 118 so we can see that occurring quite a bit. Also Ruby I don't know if you're here with us today but pay close attention to the sugar Ruby this is straight I saw this morning it was trading at that magical we're going to look at October sugar because that's the one that is that is the best of the group if I can just find there it is his sugar let's get this October sugar up so you can take a look we're down trading here right about this level tonight or this morning so take a quick look at that because that completes an ABCD that's a nice Gartley down in there should be really strong support at 12 bucks but you only have to risk $200 in that folks because it's 1125 a point so 20 points you're risking about $250 to see if you're right or not if it goes below $180 it's cyanara because you don't want to be in it if it goes below that because you know it could easily extend down to 1.27 you know or 1.618 those are you know some of the things that you might want to remember when you're trading it's all about risk control not about how much money you make it's about how much money you don't lose and that's the that's part of the key you know to what we're looking at I've also had a request to take a look here at the Palladium which I've never traded no very little about it and you'll be able to see here that we this is a long-term weekly you can see the ABCD pattern that we have up here the key to this is if you look in the middle of the chart you see the beautiful ABCD pattern competing here completing here in August of last year excuse me along yeah 2018 that's a beautiful move coming in right at a 3A2 retracement of the excuse me 50% retracement of the move from 2016 by the Bing by the boom we've made a double top in platinum folks and we went up we took out those old highs and immediately reversed that puts a qualification of a double top in there so that gives that a negative negative spot to look at it so that's another one that we want to pay attention to already now oh my goodness Al's telling me that the phone lines are all jammed up lights are lighting everywhere we got one two three four five seven people waiting to call in and we'll have to handle them one at a time and the first caller was going to ask us about the NASDAQ and I bring the NASDAQ up here to take a look at it now this is you know this is only a few stocks folks out of that 100 there's only about 20 or 25 that run the whole show and we went into new high ground again last night so that'll be interesting to see whether that one holds up or not but that's what we're looking at as we're seeing some of these things here this morning I did want to share with you I have to tell you the story this is well let's bring this up to your attention here from yesterday this was from one of our one of our new students this is a 15 minute chart on the E-mini and you'll notice where that first arrow is on the lower red hour it shows a three drive to a bottom pattern A-B-C-D pattern it's a 78% level off of point C it's also a 3-8-2 off of point A and it pointed to a price level of 30-17 and the market went moved up those 30 some points and made that level plus it made a little bit more last night got up to 30 23 I think we're trading it a little bit below that now but that's that was a pretty much a perfect pattern and it lines up just as nicely as you could possibly see it the problem that he has is he doesn't believe it and he's only seen it once and the key to this is once you start to look at these and anybody that knows how to do this you don't have to have those lines on the chart once you understand what's happening the lines just jump out at you but you have to learn what those lines mean before it means anything to you at all that's my two cents worth so we'll see how that works out in the long run also the hogs folks there's some possibility here we've got December hogs down at a very low level going to have rich Anderson on this week to talk to us about the hog market rich is basically retired now he's gone from 14 hours a day down to 12 hours a day so he's enjoying his retirement just as much as everybody else so we'll keep an eye on these as we move through but hogs that look very interesting cattle have turned the bottom somewhat we need to get them about another two cents higher before we really assured that it's going out and there's one other market that is really really ripe folks and this could be a what I think could be a campaign that I'm going to do for the 24 seven subscribers and that is in the natural gas this thing has a really beautiful pattern on the long-term chart here I'll bring it up here and show you because we recommended to buy here at 225 a week or so ago and you'll notice here we're trading around 243 244 this morning and if we can get this market up just a little bit more into the 260 level that's when you have a pretty good idea that this market has changed direction longer term and what we will look for is a situation to add to contracts when we get our first correction we haven't had that as of yet but when we do get it that's what we want to be looking for we don't do campaign trades like this very often because they require a great deal of discipline and I'm really being disciplined and just like doctors they operate on having patients right well you have to have patients being a trader so you've got to wait for these patterns to unfold and that's what you have to do most of your time you're going to be sitting on your hands waiting for the market to do something well it's much better to be out of a market wishing you were in than in a market wishing you were out of a market. Well remember did the bonds hit 154 Marshall I don't short on my machine yet who knows maybe they have just let me know oh they did they hit 154 okay well they haven't filled the old cowboy yet but we'll see all right let's move on here to another one that we want to watch and that is the corn market we're having a let me just get this up here this is some of the work that we did with John Jameson over the weekend that was really really quite nice let's get this up here and take a look at you don't see the work here but I'll explain to you what we were doing you'll notice here we had a potential Gartley up here in Christmas corn up here at that 459 now we got to 463 and a half last night on a gap up opening and now we're trading substance we're trading about a dime under that so that might be the indication that could be a sign of correction now folks that is not a hidden shoulders pattern the reason why is look at the left shoulder the left shoulder is lower than the right shoulder that's not a hidden shoulders pattern 877-927-6648 I'm certain you are or strive to be one of the best of the best at everything you do in life it's the most common trait that we tigers and tigers share if you're looking to become the best when it comes to managing your money let me teach you to do what most wealth managers tell you can't be done which is how to time the markets I'm Steve Rhodes author of mastering probability and for the last 12 months timer digest has been tracking my newsletter signals which have earned me the ranking as their number one market timer in the nation for the S&P 500 for the last 12, 6 and 3 months timer digest also ranks me as the number one market timer for gold as well the fact is markets hand time and I'll teach you the exact set of tools that I use that has transformed me into one of the best at what I do sign up for mastering probability today by clicking on the newsletter tab on the homepage of TFNN.com and get immediate access to workshops where 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page of TFNN.com okay folks we're back and I just wanted to mention to you that the rally back here in these notes and bonds should be watched very very closely because we've seen a big change in open interest on the way up open interest is dropping now with prices coming down open interest is increasing that means that the the weakness that is there is going to increase that's the way the interpret the open interest now sometimes it's wrong of course but that's something that you might want to pay close attention to very very important concept I've shown you how to do that several times here to check it yourself like 20 man says defy human nature do the work yourself all you have to do is go to www.cme Chicago Mercantile Exchange click on data and it'll show you volume and open interest you click on that move down the one you want to see like gold or silver or hogs and it'll show you exactly the number of contracts that are increasing and decreasing in that that tells you the number of players coming into the market in the markets all contract based you have to have a buyer for every seller it's not the way in some of these markets but that's the way it is with this one so pay pay close attention to that folks I think it's very very important to understand that we're now down 10 cents in the corn overnight that sets up a really nice possibility of a move down about another 15 cents in corn and I'd like to take a look at from the long side so sort of pay attention to that one that'll be a real interesting to look at and of course remember the crude oil we were talking about the possibility of a sale in crude oil we matched yesterday's eyes and then we've dropped almost a dollar a barrel in the last 20 minutes so that pretty much tells you that yep that 61 level is relatively hard level to look at in the crude oil so just keep an eye on it because maybe it works maybe it doesn't but that's some of the things we're looking at in the currencies watch that 112 level in the euro folks if we ever break that to the downside that's going to be trouble in river city but you know right now we're trading you know 70 pips higher than that it doesn't appear to be any problem so that's what I'd be watching and the main thing today folks is live every day in an attitude of gratitude and may god bless and do something nice for somebody else we'll see you on the flip side tomorrow