 The following is a presentation of TFNN. The following is a presentation of TFNN. The following is a presentation of TFNN. We are looking at the rally in the FTSE and we are having an extension of the rally here. If you remember folks yesterday, we were talking about the S&P and we were talking about the importance of that area at 2940. And we also talked about the importance of 2900. And the reason why I am going to bring this up is we had several people asking about it. It didn't go to 2900. It went to 2895. Take a look at that. You'll see that was an exact 382 retracement of the low from August of 15th. It was also very, very close to that perfect ABCD pattern that you can see there that came in at 2897. So that's a very important. Now we are rallying back. We are getting up into that 2935 again. So that's going to be another interesting one to look at. 2940 should be some pretty stiff resistance. I wouldn't be surprised to take it out, but then whether it goes back down below it or not remains to be seen. Oh good. We have Stan Harley is going to be our guest at the half hour break at 930 today folks. So that will be good. We haven't had Stan on for a couple of weeks. So we have to give a hand to one hand clapping because that fellow has caused that bond market. He's been extremely bullish bonds and they've gone ballistic. So we want to talk to him about that. That will be at the half hour break. So that's another one. Now we need to do a little heads up here. We have Ruby of Ruby in the Romantics with their call on the cattle. We want to move this over here. Yeah, everybody loves Stan. He does superb work being a technician like he is and an engineer. Here's the December cattle folks. We talked about that 1.618 level hit it exactly. You know, that's the end of the Fibonacci spiral. If it goes beyond that, you know, God doesn't know where it's going. Well, she knows, but she doesn't trade anymore. But that's had a nice rally of a couple of cents off the bottom. So if you're in that cattle, you certainly don't want to risk anything now. It doesn't want to go down there and look at that 1.618 number anymore. We see the same thing in the hogs. I didn't put the hogs up because I got too much to cover this morning. I was trying to do too many things, I guess, but that's the way it goes. Hogs have moved up pretty good. Cattle have moved up pretty good. So those should have a pretty good bounce in here. It's still a bear market, but we should have a pretty good bounce. Now we need to bring a couple others that we want to watch on. And that is the Cup of Joe here. This is a real interesting pattern here in the coffee folks. You'll notice here that we hit the exact 78% level down there at $93 a pound. We've rallied up to $97 a pound. We pulled back to $94 a pound and then reversed and closing up on the day at $95.50 a pound. That means that you can trade coffee for less than two cents a pound because if it trades below $94 again, most probably something's wrong. And that's the real beauty of when you're doing risk control with pattern recognition. You try to find those where you've made a really strong support level to hit and then you retest it and that tells you that there was no more selling there and then you've got a chance to see the market rally pretty nicely. That's really what you're trying to do with pattern recognition. It is a good way of looking at the probability of the trade working. You usually have the odds are about two to three in your favor, around 60% or so. And the risk reward on those is usually two and a half to five to one depending upon when you enter and what the strength of the downtrend or uptrend is. But that's what pattern recognition is all about, folks. That was handled in Andrew Lowe's book, The Non-Random Walkdown Wall Street. And he has so many of the sophisticated formulas in there that it's just really incredible. But if you practice a little bit, you can see what he's talking about without having no calculus and all the other stuff. So that's just my two cents worth. So keep that closely in mind. Someone's asked me a question about the tariffs, folks. I don't know anything about the tariffs. I do know that it's in the news all the time. So if they ever come to some agreement, that will most probably make the stock market go up. But heaven help it if it doesn't, because that means that news has already been in the market and the damage has been done and then we'll start down. But right now, all it takes is a little tweet here, a tweet there, a signature here, a signature there. And it could be a game changer in some of these things. The reason why you say that is because we've come back so strongly from those lows that we made back in early August. And that's a very, very powerful sign. We just barely yesterday, even with the sell-off, down several hundred points, we could just barely make a 382 retracement, which is in itself quite bullish. And when you added that, it was right at an ABCD. That gives you a pretty good indication of what's happening. I did listen to, there was a little quick report today on Bloomberg about Jeff Grundlach of a double-lined capital. He says that the Federal Reserve has lost control. I think they lost control with helicopter bin myself, but, you know, I don't know. Back in the days when I was trading on the Florida Exchange and also at Drexel, the big thing of the week was the 115 money supply, the M1 and M2 that came out. I mean, we lived and died on those in the T-bills. And that was the big market to trade during that time. That was before the S&P. You know, the T-bills were the... they were swinging the big hatchet all over the world, the T-bills, and it was... and also Jenny Mazer in there, too. But the T-bills were really a big thing to trade. And, of course, T-bills were yielding, you know, 12%, 13% back in the late 70s. And so the swings that we had were amazing. Sometimes it was around $3,000, $4,000 a day, much like we see some days, you know, it's real quietly in the rest of... Here's David. David White has again salvaged me again. He's posted, the Federal Reserve has lost control of interest rates as evidenced by the federal funds rate trading higher than any part of the U.S. Treasury curve, Jess Grundlach, the chief executive of Double-Line Capital on Tuesday. What else you need to know to call an inversion? Grundlach said and told, everyone is paraphrasing all of these little arbitrary things, but we've got an inversion. Okay, and we got the bix at 1580. That's had a nice move down. I will ask Shane, as a matter of fact, I hope Shane is listening to us today. He usually does. And he could tell us whether the Fed has lost control. I mean, they're doing the usual thing, whether Grundlach is right or not. It doesn't make any... Oh, here's a little copy out here. Grundlach says the only thing wrong with my analysis here is that somebody at TFNN, Mr. Larry Pezzavento, is also said that the Fed has lost control. Well, at least he's got a way out. All right, boys and girls, let's be right back. 877-927-6648. If you're not currently using the TAS Profile Scanner when looking at setting up your trading opportunities, then your arsenal is short a mighty weapon. The TAS Profile Scanner is a standalone piece of software that instantly filters over 2,500 global financial markets such as stocks, ETFs, commodity futures, and forex. Heated by Steve Dahl, TAS understands that in today's technological world, the use of top-flight software applications and technical analysis expertise is essential to successful trading in today's market. 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Whether you're looking to sell your current property for maximum value or you're in the market for a second home or investment property, Tiger Realty has the experience across all areas of real estate in the Tampa Bay area to help buyers and sellers make the most informed decisions when investment properties are capable of creating, Tiger Real Estate can help you make the best decision when it comes to all areas of the market. Before you make one of the biggest decisions of your financial future, call Tiger Real Estate LLC today at 727-329-8322 or email us at tiger at TFNN.com. That's 727-329-8322. Call us today. Many of our new listeners have heard about Tiger Real Estate 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 Real Estate 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 Real Estate are on the front page of TFNN.com. TFNN has launched our brand new website. 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 six months and yearly options. Check out the new TFNN.com now and experience all the upgrades. TFNN.com educating investors. Call now toll free at 1-877-927-6648 internationally at 727-873-7618. Okay, we're back folks and I did hear from Shane. He was listening and he said the Fed is in total control that they people that just don't understand how they use the market forces that they have in their favor, which I have to agree with that. He certainly led us to the light over this past few years listening to what he has to say. So I'll stick with him and think that the Fed still pretty much knows what they're doing. Remember it's a private corporation folks. It's not the US government, even though it's on Pennsylvania Boulevard there, Pennsylvania Avenue there in Washington DC right down from the White House, but it is a private corporation. Let's move on and talk a little bit about the sugar. Put this up for Ruby. We're right at that area where we're in major support back to that level of around 11 cents. So we need to watch it very, very closely going below there and breaking down in both coffee and sugar would be leading to the deflationary scenario. The same thing would be true in cattle and hogs. And but I really think they're going to hold up. That's just my two cents worth, but we'll have to wait and see if that is going to happen. All right. The next one we want to talk about is the slippery one from crude oil. Let's get up here and take a quick look at it. We got up to that 78% level here. We hit 8691 last night. We're now trading at around 8680 right at the 78% level. So whether this crude oil is going to be on top of the market or not, you know, we'll have to, we'll have to wait and see. But right now it's acting relatively well. We'll keep a close eye on that. I guess that's my thing that I fall back on when we look at it. I don't think Shane has, he's pretty busy this morning, so he's not going to be able to call in. He skyped me to tell me that the Fed was still in pretty much in control and he spent so much time talking to us about that and show he's actually, you know, proved to how they do it. So it's not anything wrong. Hopefully he gets in, we'll be able to, we'll chat with him if he does get in. So we'll see what goes on. Okay, you know, I think part of that thing, Steve Rhodes is talking that the pumping of the global flow of capital is pretty very, very important too. And a lot of that capital is in the bond market and there's any problem in any market, I would think that would be it because that's the one that looks like a, okay, I'm sorry about that, Al. I didn't mean to get you in a quagmire there, but I'll do my best to work through that. But we will have Stan Harley as our guest at the half hour level. One person asked about the Bitcoin, so let's take a quick look here at the Bitcoin. It's actually held up pretty nicely down at that 9,800 level and we started to come back again. So you had that really nice bottom in there. You see those 78% bottoms right there? It's really nice. This is a four-hour chart, so it covers several weeks and the 78% level on each of the pullbacks has been pretty much spot on. That tells you that even though it's a lot of different exchanges, you know, that's it. You're right, the stock market is not the economy. I agree with that. And what Bernard Baruch said in his book, it's not a stock market, it's a market of stocks. So that's important. That book that he wrote, The Autobiography, called My Own Stories, one of the best books about psychology you can ever get in because two of the things in that book. Oh, Shane, are you on the line? Good morning, Larry. How are you? Hey, good morning. Well, we had someone said that the Fed's out of control. You want to give us your two cents worth, my friend? Well, can you see the screen that I have here? You know, I have not been able to see it, but let's just double-check here. No, I don't think so, but we'll get it posted for you. So just go ahead and then we'll post that chart so you'll be able to see it. Okay, so I think in essence what people are looking at is they're looking at the yield curve inversion, the two-year inverting across the 10-year. And, you know, of course the 10-year is the most liquid, you know, instrument that we have in the bonds. And when that's happened in the past, that has always been a signal of recession. And initially, there's no initial reaction seen, but traditionally, poor economic data usually follows at some point, close after the inversion. So we really haven't seen that quite yet. We've seen some issues with manufacturing, but the jobs are more or less stable. Retail sales good. Walmart's been having good numbers. So I don't really see any economic data yet to follow that. And usually we've seen these large downturn and stocks and recessions following the yield curves. And that's the traditional formula of the yield curve inversions. So they're looking at the Fed funds rate being the short-term being, you know, too high in essence. And they're saying the Fed has lost control. But what they're not looking at is what's going on behind the scenes. And the Fed has essentially figured out how to keep these rates, you know, relatively high, let's say relatively high because, of course, we have these negative yield rates across the world. The United States, the two year right now is holding right around 1.51%, which is much, much higher than countries like Germany and Denmark that are, you know, negative 0.92%. And a lot of these countries right now that are in these negative yields, when you look at Spain, Belgium, France, Germany, Denmark, these are a lot of countries that have very high entitlement type of economies. They have this socialized medicine. So I think what you're seeing is, I mean, my feeling is that these types of programs weigh on the economy. So it creates problems for these countries. Now, if you were just looking at that, you might say, yes, they're losing control. But I don't think so because I think what the Fed wants to do is create, you know, they want to create strength in the U.S. dollars, the world reserve currency. They're trying to achieve that objective on one hand. On the other hand, they're behind the scenes. They're still creating this juice on the markets. Now, this is what I measure. This is what I collect every day. I look at this broad range of data that I get from the Fed. And so they're not really looking at that. They're just looking at the surface. They're looking at these inversions. So from that perspective, you know, yes, they're probably saying the Fed has lost control. But from what I look at behind the scenes, I see no signs of that. In fact, I see a Fed that is completely in control of the markets. And I think they've stemmed the selling now. And I think that we are ready to go much higher on this market. And I think we're on the verge of not just a bull, but I think a super bull. I think this is this one's going to go probably a year, a year and a half. And it's going to surprise a lot of people. There's a lot of things now that can come out and happen. You've got the Jackson Hole speech this Friday. And so people remember this is when Bernanke sent the markets to the stratosphere on this. This is a very important speech. Now, the last time the Fed spoke, they misspoke and said that this was a mid-rate adjustment. And then Trump came out and misspoke. So there was a lot of misspeaking. I guarantee you the Fed is not going to do that again on Friday. They're going to come out with very positive language for the markets. And all that has to happen is to give a strong speech. You know, they're probably going to be cutting the next two meetings. I think there's room for a cut in between because they want to bring the front end of that yield curve down. That happens. And then if Trump signs some type of a truce with China, I think you're going to see this bull take off. And I think your guess that comes on at the half hour, if I recall correctly, I think Stan Harley is also bullish on this market. But I think this is going to be a super bull coming up. I think it's going to be at least a year, probably a year and a half run on this market. And I think it's going to take a lot of people by surprise. That certainly makes sense. Well, I want to thank you for calling in today because we've had several questions about, you know, Grundlock and, you know, some of the things that people say, but, you know, he's a big shot, so people put him on Bloomberg and he says something. Everybody listens. So thanks for calling in. Thanks, Larry. I really appreciate it. Thanks for calling in. WolfTrader.com. Thank you very much, my friend. 877-927-6648. His subscribers on a daily basis when the markets 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 Pesavento'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. 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Don't miss out on this incredible new piece of software. 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, we're back, folks. And I believe we have Stan Harley, the Harley Stock Market Letter on the line. Stan, are you there? Good morning, Larry. Good morning to you. Stan, is any truth to the rumor you're going to change the name of your letter to the Stan Harley bond market letter? Well, hey, my friend, I think you should get a sound of a whole lot of people clapping because when you were on here a month ago, you were extremely bullish bonds. And my goodness, we had one of the biggest moves in the two-week period that we've had in bonds. So my hat's off to you on that. I assume you're still looking at higher prices down the road? I think, yeah, we've had a really nice move up here in bonds. We're up against an upper pattern boundary of a one-by-one channel that I showed in my newsletter. I don't know whether you have that, and you can show that on the screen. I don't have it. I'm going to try to find it. I know I've printed it out, but unfortunately I can't print the charts. I just keep talking, my friend. I'll find it. Go ahead. Okay, sure. The bond market has been in a strong uptrend. I think it's going to continue to go higher for about another three-plus years. But in the intermediate term, we're probably up near some kind of a high. We tend to make highs and bonds, lows and interest rates on average about every 40 months. And we're getting pretty near to that timeframe right now for the next high. So I think we might push a little bit higher, perhaps in the early September, but not a whole heck of a lot higher from where we are right now. Yields have come way down with yields on the 30 years, as well as a 10-year down there, historic lows. And what can I say? Yeah, it's been quite a move, but I think it's probably, from the intermediate term perspective, it's probably getting rather mature right now. Okay, Stan, the other question that I have for you from one of our listeners is about negative interest rates. I mean, do you have any opinion on that? I know there are in several countries, Spain, Sweden, and Germany, and Portugal, places like that, but do you have any feeling on that as whether we're going to see that here in the U.S.? Larry, I don't know. Okay. From a longer-term perspective, you and I have talked about this. There is a very well-pronounced 40-year cycle and interest rates, and that cycle last turned in October of 81. I think it's going to bottom the tail end of 2022. How low we get? I don't know. Back in 1940, the yield got down to just under 2% on the 30 years, so my guess is we'll make some kind of double bottom with that. It could be a little above, it could be a little bit below. Whether it goes negative or not, I can't say. I don't know. It's really amazing the stuff that you hear going on in the markets anymore. I mean, everybody's got a different opinion, but I guess that's the way it's supposed to be. Stan, tell us about stocks. I know you're very, very bullish. I mean, we've really had a really big bounce here, and we've gone sideways here now for seven or eight days. Looks like we're ready to break out on the upside. Do you see that happening now? I'm officially bullish with time or die, yes, yes, but in a broader context, I'm saying the bull market express is on hold right now, Larry, and probably will be for a couple of months. I think the high we saw here back on July 26th is probably going to stand for a couple of months, and we are in a sideways to modest downward consolidation phase right now that I think is going to run through the middle of October. We tend to make lows about every 19 to 20 weeks on average plus or minus, and the next low point in that cycle is due in mid-October. So I think we're looking at a sideways congestion here with not much upside potential. I don't see the July 26th highs being taken out for at least a couple of months. Longer term? Yeah, I think we will, but that's probably not coming until maybe Thanksgiving. Something like that. So I'm looking for a narrow range choppy market, difficult to trade, little up, go down, little up, little down. We're pushing marginally right now above the 18-day moving average, which, by the way, is still coming downhill. I'm looking to charge the S&P, and we're just modestly above it. This market is not going to go appreciably higher with that 18-day moving average still coming downhill. There's got to be some back-and-fill structure on either side of that 18-day to cause it to level off. Once that takes place, we can push a little higher. I think we'll push up towards the upper end of the range. Maybe see some resistance at the 50-day moving average, which on the S&P comes in about 2947 right now. But I kind of keep your bullhorns in the closet for at least a couple of months. That's my message. Okay, that sounds pretty good. I've got another question here. I don't know if it's in your bailiwick to answer, but what is your feeling about when the president talks about tweeting about bad mouthing the Fed? I've never heard of any president ever doing that. Do you have an opinion of what's going on there at all, Stan? That's what I said. Wow, I didn't know how to answer that. Well, on a program about technical analysis of the markets, I'm very leery about tweeting in on anything political. Okay, good. Yeah, I just don't want to go there. Stan, is there any... Don't draw anything plus or minus from that comment, please. Okay, I tried not to... I want to see the leader of the country succeed because if the leader of the country succeeds, the country succeeds. I don't want to see the leader fail. I want to see the country succeed. I agree with whoever that is, that's for sure. Whoever that is, yes, absolutely. Stan, we've known each other a long, long time, and I'm really a technician, so when people ask me some of these questions, I say, my God, where do they come up with these? But I really don't know what to say. I always say it's beyond my pay grade, but I've got a couple of degrees even, but it's embarrassing when I don't know the answer to them because I look at the charts, and if I see something going up, there's more buying. If I see something going down, there's more selling. It's not much harder than that. Well, you and I are technicians, and I think the Federal Reserve is staffed with some exceptionally competent people, but they are, truth be known, they are really not market technicians like you and I. They are quantitative analysts. They do a lot of multiple regression modeling and so forth, and they do the very, very best they can. And for people to come down on them, I think it's probably inappropriate. They really are doing the best job they can. So be that as it may. Is there one trade here over the next couple of weeks that looks the best to you, Stan, that you've got on your radar? Larry, I'm sorry to say no. I don't see a lot of upside potential in bonds. I think we're near the upper end of the range, and stocks also I think are in a sideways congestion band for about the next two months. So from an investment perspective, it's going to be darn difficult, choppy and difficult to trade. Oh, so just like it's been for the last 170 years, pretty much? You got me there. Hey, listen, buddy, I want to thank for having you on. I'm sorry I put you on the spot a couple of times, but I don't have the answers either. So if you don't, and I don't, and I think we're okay. Hey, thank you very much, Stan. You bet. Stan Harley, the Stan Harley stock market letter, and the Stan Harley should be bond letter because he really nailed it. 877-927-6648. 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 $50,000 investment at a normal four-year CD rate of 3.1% would give you income of $1,550 per year, or $6,200 over the four-year period. That same $50,000 investment in the Tiger First mortgage program would give you $3,500 per year, or $14,000 over the four years. What should you prefer? $6,200 or $14,000 of interest on your investment. If you'd like more information about the Tiger First mortgage program, you can call me at 877-518-9190. 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Okay, here, if you hold on, folks, I wanted to put up the chart here that Shane was kind enough to send us about the Fed juice because it does a pretty good job of showing what's been going on. And as you can see, it follows the market pretty much what's happening. So they must have some control. Remember, folks, we have 12 Federal Reserve banks reserve banks and each of them has a whole bunch of traders in there usually between 100 and 200 traders you know doing stuff in the markets and stuff so you know they know what they're doing whether they're doing it the right way or not remains to be seen. I'm probably getting more questions about the the currencies that I am about stocks the last 24 hours and I believe it's very important because that euro is still trying to hold above that 11060 level we're down at 11097 right now and I believe it's going to hold that level but we'll have to you know watch it very very closely that's that's for sure you know at least that's the way it looks like from you know just basically you know watching the charts so we want to watch it very very closely. Okay let's move on to a couple of things on the currency since we're on that the Japanese yen has held that really important level down around the 105 it's had a really good oh I'll be happy to take care of the gold and silver here not a problem here the gold I believe we're in a corrective mode in the gold market I sent out a special video on that last night saying that the support should come in around 1507 today so far we've rallied up to 1514 I don't believe gold's going to get any higher than 1524 to 1525 on this little run here that we have the $64 question is is whether it's going to go blasting above that if we can get gold above 1530 then we're going to probably make new highs but right now it looks like the gold is in some type of a of a correction we we corrected $56 to the downside we rallied back 34 so that fits it up and what we've done now it's just gone sideways for four or five days not bearish of course but we haven't exploded to the upside either that could happen supposedly but right now we're just chopping around in here which is pretty much I think normal silver's acting a little weaker than the gold market but you know it's still it's had a heck of a run look where silver was here just last Friday folks you know we were up around you know 1523 or so that's the gold sorry 1523 we're trading at 1512 right now so that hasn't given up hardly any at all correct and the platinum you know platinum had a really nice move we bought platinum just a two days ago and we were stopped out of it today for a very nice profit and you know that's still holding up at the 835 level as long as it can stay above that it's looking pretty good let me do silver here so we don't keep it as a wow what did I do here I mark silver on my charts and it's the gold and I marked the gold and it's the silver boy oh boy shut the front door and raise the rent here's the silver the silver is really interesting because we've had dropping open interest I checked it yesterday the same thing dropping open interest and another one we're seeing the same thing in notes and bonds to dropping open interest that means there's less players in there so that's not a bullish sign on either one of these but we're trading around 17 bucks here in the silver this morning so it's held up you know relatively well what we would like to be doing is when we do get a pullback in this that we get a really clear pattern then we would really want to be a buyer of the gold and silver because that those weekly breakouts you have to respect those that was one of the things that Gartley talked about in his book you know the profits in the stock market from 1937 was to watch weekly breakouts because they can lead to you know really really big things and I think that's relatively important regarding the notes I wanted to bring this up to you just to show you since we had stand on the line and said that they might be ready you know to take a little breather you can see here on the long-term monthly chart you know we made a 78 percent retracement in 1.27 expansion this past week when we had that big move up and whether we're going to remember how many months we've been up we've only been down one month out of the out of the 12 we've had some where it didn't make new highs but it certainly never made new lows so it's been making higher highs now you know for well over a year and that in itself makes it quite a bit overbought but whether that remains to be seen is important we'll have to decide down the road here a little bit now where the question is are we going to get to that 2940 level in the in the S&P I'm not really sure but we did hit the key level here in the NASDAQ right around the 7765 level that looks pretty good and we're 2930 and at S&P is going to be interesting to look at also pay close attention switching back and forth because I'm watching my monitor because I have orders in on a few things but watch that crude oil folks because that's got a lot of things up there that a lot of ABCD expansion patterns and everything at that 57 level in October crude really is a really strong resistance and you know we could make 5740 or something like that but that is a really nice ABCD pattern that we focused on when we first started this show and we ought to bring it up again just to let the folks you know take a look at it just to see you can get a little bit higher now this happens to be let's get this up here this is September crude I switched over to October on Monday and but this is September crude it there's a little bit different September is trading a little bit less than the than the October so you know kind of watch that that's another one that looks you know pretty interesting I think from that perspective and again you got to remember the importance of this number here in the S&P that we posted here on Monday you know we're back up to this almost there right now we're 2828 or 2928 if we could get to 2932 or something like that 2935 2940 but a lot of resistance up there folks so that's a pay attention to that those numbers are they're technical numbers but by golly if you look at them over a long period of time you're going to see that yep they do give you a pretty good idea of what's going on in the VIX index has certainly told us that it's not going in fact is we we thought the VIX index was going to be coming down here you can see it here it's below 16 now so we're right near that area so yeah it should be completing the ABCD there at around 15 and change so that should be just about right with the stock market up you know 200 points so that completes that ABCD in that VIX index so it trades pretty nicely but you know a lot of things do a lot of things don't that's a bottom line all righty you have one other question here and that is about the treasury excuse me the emerging market let's get this up here because we uh brought this to your attention over the weekend that we had that breakout of that triangle that we were expecting we broke about 8 percent below it we completed the ABCD pattern almost at a double bottom which is the 61 percent retracement all of these markets have held folks every single one of these the Hang Seng the Chinese market the emerging markets most of the markets in Europe all have held up so that means a really important support here was hit this week so um we'll just uh just watch it that breaks then we're going to be looking at much lower prices down the road but right now you know these markets have a bullish bias if we close strongly above 2940 in the S&P we we could be looking at some really big uh really big moves uh you know going up into um you know 3000 without any trouble at all that's that's not very far away 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 of 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 can be timed 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 I take you step by step how to use an extraordinary set of tools as well as provide great market calls to sign up today if you haven't checked out the newsletters page of TFNN.com what are you waiting for all of the TFNN newsletters are informative up to date affordable and a 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computer software which included the standard market technical indicators enhance the degree of accuracy and calling price turns as well as market trend calls thus was born the Chapman wave sequence using the Chapman wave methodology along with other indicators basal Chapman advises his subscribers of his expert market opinion each market day with his opening call newsletter right now you can get a two week free trial to the opening call basal's daily trading newsletter by visiting the front page of TFNN.com cancel it anytime during that trial and pay absolutely nothing get your two week free trial to basal's newsletter the opening call 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 forecast of what we're looking at here in stocks for today this is the NASDAQ and remember it is certainly experimental you know traded at your at your own risk you certainly don't want to you know if it doesn't work after about 10 or 15 minutes it's probably 100 wrong and that happens about 30 40 50 60 70 80 90 percent of the time but who knows another one that looks real interesting here that has been pretty nice today as far as being able to forecast what's going on and that is the gold market and if it's correct the gold market should top here in about an hour and a half at around 11 o'clock eastern time and then we'll see what's happening remember this is experimental it's based on you know neural network stuff but it works part of the time just like technical analysis it all works part of the time that's the the bottom line it's just keep a very very close eye on that because it's it's pretty pretty important the British pound we keep getting questions about that i really think the British pound is trying to make some type of a bottom here folks you'll notice here that we've hit that 120 level we're trading around 121 50 this morning it's held relatively well but it's close enough that it takes one bad news and it could just literally disseminate so you've got to be uh i don't know if disseminates the right word but it could literally fall out of bed let's put it in the vernacular of southern indiana that we can all understand so below that 20 area 120 area in the british pound you don't need to be a hero meet to try to pick a bottom it's it's not safe unless you got a really close stop in and that's the good advantage of foreign exchange it'll take out almost any order that you bring to its attention we're still close to the bottom in the euro it's trading at below 111 if we get a below 110 it's not going to have many friends folks but that means us dollar will most probably be breaking out above 98 50 and if we look at that 98 50 like we have many times here over the past few days you'll see that uh there's going to be a big breakout to the upside if that does happen in the us dollar index so let's pay attention to that and the most important thing of the day is to live every day in an attitude of gratitude and may god bless and try to do something for someone who has a whole lot less than you today see you