 The following is a presentation of TFNN, the Tiger Technician Hour with your host, Basil Chapman. Call now. Pull free at 1-877-927-6648. Hi, I'm Basil Chapman. This is the Tiger Technician Hour. The dial is up 10, 33,004. We're looking at the S&P. I want to go through this quickly because there's a ton to do. Up 6 at 41-38, the QQQ leading the pack so far, but now it's only up 224 at 3-1050, hitting a trend line resistance at the 3-10 level. We're going to be watching this closely. The IWM is pulling back at $10 at 8184-23. It had a very nice bounce from 168 to the 180, I think 86's. And now it's at 184-28. We're going to be watching this closely. Looking at gold. Gold is now down almost 4 at 1844. Silver is, silver is, peak C. It's pulling back a little bit, making the arch formation of the traded H, that is. We're looking at up 0.08 to 21.77. Used to get to the 22.76 area to say, hey, I want to get even higher, but so far it's been big resistance in the 22s, low 22s. We're looking at the, I just want to do this. We haven't looked at it for a few days. High grade copper. High grade copper has made it a leg C, could be a peak C today, but way at the bottom end of the range. Well, I want you to look at wood, which is a global. I like to put these together. So we've got high grade copper, which is international. It's really, it's just kind of a benchmark of what's happening internationally. And I like to put it together with wood, which is the global ice shares. Timber of Forestry ETF made a peak B. It's in the middle of its range, sort of underneath the midpoint, I'd say, but holding very nicely considering at 88.39. Yeah, we want to see it up in the 92 area. Definitely not under 82, sorry, 80, 84. But it's in the middle of the range right now. Looking at the TLT, and this is a real issue because the TLT is only up 20 cents and 1 is 60 and 76. And that means I'm going to go to the, let's go to the FVX, just for the moment, FVX. So this is the five-year, oh, I used to have this all notated. I'm getting tired of these things being wiped out. And that's, I have trade stations up, trade stations full. It's just, there's something going on. I've never figured it out. Suddenly shut down and I lose data. And because every single chart that you ever see that has my notation on it, every single piece of lettering comes from me. It's not automated. So I have to do it. It doesn't take, look, it doesn't take long. I'll just do the monthly chart. I'll do the weekly chart right here. Let's just do this, peak A, peak B, peak C, peak D. Give an up arrow for the start. This is the yield. And then you get another one going there right there. And there's not an instant restart because it took too long. But that is a leg A, a leg B, a leg C, and there's your D. D is the fourth high-speed. That's where other things can happen. And you've got a peak D in the weekly chart of the five-year. This is the five-year treasury note yield. Let's go to the TNX. That's the one I was going to go to. Oh, type it in over here. TNX. Yeah, this is going to be very interesting. Look, TNX. I made a peak F top just as the TBT made its peak D. They go together. This is the ultra-shortening 28 Treasury Bond ETF. This is really 20 years or more. And it is the inversion, the TLT is the one that went to a trough D and now it's gone to a peak D very quickly. I do not like that ever to see a buy signal go to a buy mode and then have a very small upside action going all the way to the fourth highest peak and then pull back. Not good. So let's go back to the TNX and just discuss this a moment. Some people said, if you just take a moment to give us your thinking of whether or not the T... There it is. Whether or not no, I can't do that so quickly. My eye said it's probably just a penny higher. 2708, 2709. Yes, it's not yet peak D. Sorry, it's trough D. It went to trough C and now it's AB. This is a new B on the upside. Very interesting. So the yields are saying we've got a cup formation. And remember, my contention is that yields are still going to go higher. That yes, we'll get these interim slides to the downside, but you've got to think of this as an expanding yield and on the... Oh, I'll have to do that. I didn't want to but I will. But in the... My triple yield weekly chart shows you that the high that was made just recently could be a high that stays in place even though there's a high level consolidation, but we don't go to a new recovery high just yet in the years. I don't know. I'm just saying that's a possibility. 3.277 or 3277 was the 30 of TYX white back. This is the white on the black background. A yield and that's a peak E. We pull back and look. Yes, the global timber forest ETF within that rectangle for over a year. It is not broken to the upside or downside. Other than a brief intro week pop and back into the consolidation. And look how well the Philadelphia Housing Index is actually acting considering all the tensions that are going on. All right, enough with that. I'm not going to discuss this now just to mention that the month is closed and this chart that I've spoken about that I considered to be a template from 1998, September 1998 when the S&P was at 1190 kind of travels like that. In one month it can travel a thousand points. I'm saying that this is at least for now what I'm thinking of at this particular time. I don't know if it's going, nobody knows if it's going to be, but I am saying there are some enough similarities to say I'm keeping it in mind that this is still a peak B in the monthly chart I can talk. I said I talk in the update to 10 o'clock Tiger for National News Network update. I said that I would close the space that I would discuss in greater detail the monthly chart since May is done. I actually like to wait another day or so because when you get a monthly chart, it's not, remember, a whole thing about candles is it's not the candle. It's what the candle says if it's followed by another candle that confirms that particular action that you're looking at. Tows down 65, Esbis down 7. This is what I was expecting today. Consolidation from yesterday continues into today. We're trying to pick up some new positions because we both have such a big cash position. I don't know if I mentioned this. I'm going to mention it right now even though I'm interrupting the train of thought that finally we are out of our GBTC. That is the Bitcoin investment trust. We were in it from about what was it July or something of 2020. We had spectacular gains, a 300-something percent gains. We've taken lots and lots of little bits off. We kept just a fraction. Then I said, you know what? For my traders' corner, I just need that space. It's not really worth it. I don't see Bitcoin right now doing very much. I think it's stuck in a range. Let's just get out of it if I ever get back in. I'm not sure if I get back into the Bitcoin investment trust. Tom was talking about it. Just the discrepancy between the futures and the Bitcoin investment trust. This is Bob. I hope you'll get a fantastic workshop coming up next week. At the time of booming inflation, we are purchasing powers eroded. There's no better place to protect your harder and money-thinning gold. This-the-goals flagship asset is the Monk Todd Gold Project in the northern territory of Australia. This is Australia's largest undeveloped gold project. We are talking a world-class gold project in a tail-on mining district. This is a large-scale, low-cost project with significant existing infrastructure and a politically safe and friendly mining jurisdiction. This-the-goal just completed the Monk Todd Feasibility Study, which resulted in a 7 million-ounce gold reserve in a 16-year mine life. 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Get Tom O'Brien's newsletter, Market Insights, today and try all of our products and newsletters 30 days risk-free with our money-back guarantee at TFNN.com. TFNN Educating Investors Everything in the universe is governed by the Fibonacci sequence. This mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market. To stay on top of stock patterns you can take advantage of, sign up for the Fibonacci 24-7 newsletter at TFNN.com. When you subscribe, you'll get a weekly report from Veteran Day Trader Larry Pezzavento on stocks you need to pay attention to and you can trust Larry's analysis. After all, he's got 45 years experience as a day trader. Larry will also provide daily charts, videos and data on the key markets that he's tracking. Expect notifications from Larry on market movement you need to act on at any time. First-time subscribers also get a 30-day money-back guarantee. If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up. Subscribe to the Fibonacci 24-7 newsletter today. TFNN.com Educating Investors The leader in the field, according to its CEO, that's always the leader in this field. It hit 311.25 November of 2021. It took a little dive. It went down to 154 double-bottom at 154.64 early in May and then later in May it hit 154.32. Then it had a very strong balance over the last night into this morning. It ran to 184. I'd say 154 to 184.30 points, almost 19-20%. Again, and now it's pulled back a little bit from the high. It's up 12. Now that does affect the dow. The dow itself, so I want to see the evidence. I believe, as I'm looking at it right now, that 170 should be attempted to be filled over the next three to four sessions. But is this the takeoff that salesforce.com needed? It is a great company. Ever since I was a kid, my father used to say to me, don't brag, don't show off. If I did really well, I was a sprinter. If I won my races, because I was very quick, I did usually win. But he always used to say, hey, so I've always thought of myself. If people could do the job, I always give them the leeway to say, yep, I can do it. There's a difference between braggiozo and just mentioning it. And the one thing that's really important is that, then he off over the last, I don't know, how many years it's just been going on and on and on. Whenever he's interviewed, he's just talking about that we've gone from, we should be a billion dollar company, then we should next year we should double it. Oh, in the following years you're double it. But he has produced the goods. But this big arch formation that turned into a huge cup formation going from the high of August of 2020 around about 284 down to the 201 level back in 2021 and then screams up to the November high of 311-25. He has produced the goods and I've always commended him for that. But I did say when they built an incredible building in San Francisco that that could be a top and it was a delayed, the building was built and still went higher and then it turned down. And then when I heard that he was doing he written books and he's being all sorts of things that are in other areas that could be fantastic areas. But the other areas of his business, I said, I wonder if he's going to lose his focus just like I'm saying with Musk going into Twitter. Is he losing his focus? Is this going to detract from his specialty of two mile long hangers that contain rocket ships and Teslas or whatever it is? We'll see. So now he's come out with another great earnings report and you have to ask the question, why did it go down from 311 to 154? To me, that's a legitimate question and it isn't just the tide change from growth stocks. Something else was going on and now it has to regenerate and get back. For instance, there are other companies, for instance, IBM is one of those companies that IBM trading at 138.71 right now. I'm calling this a leg A, gone from 125.80 to 147. It's in the same area and they finally getting things right as well. And I believe that you're going to find as you have with Microsoft. Let me just show you Microsoft right here. Microsoft going from the year 2000 as the leader and then just getting wiped out and then coming back that researchers, that rebuilding, that re-energizing. I think finally that we're starting to see that in some companies and I'm thinking maybe IBM is going to be that also now mostly in the cloud business. So yes, the Microsoft chart, it's not a bad looking chart. It has gone from 349 down to the 246 level of the 20th of May and now it's at a nice 3.2 73. So I don't rule companies out but I do say that in terms of salesforce.com, as I understand it, I haven't gone into it in great detail, but as I understand it, I believe that he did produce the goods. So he had every right to be a little kind of showy and I think in a certain way it's called salesforce and I think that that's his greatest strength. This is really a salesman par excellence. Now we're going to see, can they produce the goods? Let me go back CRM. Can they produce the goods? They have produced the goods. You've got this big spike. Is the 154 sacrosanct now, that's your takeoff level or is that going to be retested? The answer to that I believe will be found within the next, what is today, the 1st of June. So this is the beginning of June. By the, let me just check my calendar here. So this is the first, by the, give it two weeks, by the 16th, 17th, the week of the 17th, as we're going to the end of the week, has salesforce taken out 170 which, oh no, it's not 170, it's 169, 10, it's called 170. Has it taken out 170? Absolutely key support or is it actually tackling made the high of the 28th of April, which is 186.93, will that become a base and it's trying to tackle the high, the bar that was of the 20th of April. That's sort of the big red candle, big sale, sale of going down to 154, and that was at 193, 193.30. So that's what you need to look at, because if it just leaves us, if it falls part of the gap and then breaks the gap, then actually starts to move towards above 185, let's call it 186, the 14-period moving average in the weekly, it helps the pink 9-period moving average finally start its trek towards the upside and hasn't been able to hold an upside turn at all. And the stochastic is back at 14%. It's really very low. It was a single digits recently. And the MACD in the weekly chart, the histogram is improving but it hasn't crossed positive. So it's a peak D in the monthly chart. D is the fourth highest peak. That's where other things can happen and look what happened. Question about Facebook. Facebook right now. Yeah, this is, I believe Facebook is still stuck in a range. I don't see anything that's attracting me to Facebook as a potential buy other than a quick trade. I think it needs more time. I'm really worried about this major uptrend mini-chaplainwave inside track, propellant zone that's been working so far as well as the Fibonacci expansion to the downside. 238 is where it stopped dead at 100, just under 170. Was it under 170? 169.00. I'm sure I take that in. I think I lost it one of those days when I closed down suddenly. Around number low. So that's your round number low on Facebook. It's trading at 194.88 up $1.27 right now. I think it's got a bit of a problem. I think it's going to take a while. I had a question. So that was that. Oh, could I look at Baba? Oh, that's what it was. Alibaba. Yes, stuck in the rectangle. Very nice action going from the 70, 80s area up to 90s. And now it's at 94.70. No, I think this is in the stuck range. Downs at 170. Especies down 23. I want to see a pullback today. It's very important. I'd like to enter some of our bigger positions. Higher price positions. Not expensive, but higher price positions. I'll be back. If you want to take advantage of this sector, now is the time to subscribe to my Gold Report. The Gold Report is a comprehensive look at the metal sector as well as the markets that move gold, which is the currency and bond markets. New subscribers get a 30-day money back guarantee, so you have nothing to lose. Every Monday morning I publish the Gold Report with coverage of gold, silver, bonds, the XAU, HUI, GDX, as well as more than 30 different mining equities. To see for yourself the types of profitable trades that are recommended within the Gold Report, sign up now by visiting tfnn.com. Don't miss out on the next great gold trade. Sign up today. Hosted at Discord, tfnn has been educating traders for more than 20 years with live programming hosted by 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 tigers for just $1 for the year. There's no catch 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 tigers 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 at Discord is accessible on mobile or tablets as well. So it's always at your reach. To sign up today and become a part of this educational community of traders, just visit the front page of tfnn.com. Tom O'Brien has just announced a live Timing the Trade webinar Friday, June 10th from 9 a.m. until 2 p.m. Eastern Time. Join Tom O'Brien for 5 hours of live education as he teaches you his trading methodology right from his best-selling book The Art of Timing the Trade, Your Ultimate Trading Mastery System. In this live webinar, Tom O'Brien will be teaching you his entire trading system, including quality volume, ABC structures, Fibonacci confluence zones, cause and effect, swing points, and more. We will be limiting this class to 40 attendees, so please do not delay and reserve your seat today for this special live event with Tom O'Brien. All attendees will also receive a physical copy of his book, The Art of Timing the Trade, an $88 value, mail to you, along with a free month of his daily newsletter, Market Insights, a $169 value. For all the details and to reserve your seat today, visit the front page of tfnn.com. TFNN 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. Hi, folks, we're back. So, I've got Sam Geet to send me a thing. IPO, let's see, $31.60 monthly chart. Pisani IPO market has collapsed. I guess that's Pisani. So, let's see. This is peak A. I believe that's B, A, B, and it squeaks to a C, and this is stuck in this lower range. Yeah, the IPO Renaissance IPO ETF. Wow. I'm beginning to think here that how's ARC doing? This is the same person, Kathy Wood. I believe ARC is at $43.50. Wait, does she run all of them? I have no idea. I know that she has some ARC itself, ARC Innovation, which is at $43.55 down $0.58 stuck in this lower range. I'm beginning to think here that maybe the trading guards are about to divorce themselves from the NDX100 and the very specific stocks in the ARC Innovation, because, look, $35, yeah, it's a fantastic percentage, but it's nothing really. $45 to $46. That's 11 points. That's about 30%. Yes, a very nice percentage gain. But you're talking about something that's gone from 125 down to 35. So, it just doesn't fit at all. So, what I'm looking at here is that possibly just a little longer we're going to get this intense die, the diversity of some stocks within some groups acting very well, but other stocks because of other factors. These are factors we don't have to even know about. We just know that they're not participating. And we'll see, what is DDD doing? DDD, yeah, from $8.79 to about 11.30, three points. There we go. Very nice percentage gain, but you have a stock on for 56.50 February of 2021, 3D systems down to 8.79 at the 12th of May. So, I'm beginning to think that that's what we're looking at before these guys can really get a powerful move that says, we're done going down. Maybe a little more hurt is needed. That's the way markets like to work. Those trading, those elves, they just love doing this. So, what we're looking at here is, let's see. Well, excuse me. Kota asks, where would you start building a position in IBM, please? Well, I've got this on my list for my subscribers to an opening call. I discussed it this morning. I'm not going to discuss that right here. I do like IBM, but if it doesn't get into my buy zone at this particular point within the next day or two, I might just skip it and I might change my mind to go into Salesforce or I might just skip the whole area. I need to watch this ARKK a little closer because the powers that be are really showing their hand by saying, we're like some areas and we're favoring those areas and we don't like others. So far, we've allowed them to pop but we're not going to allow them to go much further. That's the way I'm looking at it. I look at the market as them and us, those elves that are sitting there wagging their finger at you and what are the good elves? What are the good elves and bad elves? Meantime back, as I mentioned on a purely technical basis, IBM is acting well. I think it might be stuck in a trading range and that says that it could be stuck between 140, 142 and maybe 135 to 134 on the downside before it really gets going and has an even bigger move to the upside. So with that said I'm just going to leave that alone. Those are the parameters I'm looking at and I'm still making decisions. Can I post AMD? AMD is advanced micro devices. Absolutely. Look at this. Goes from... Wait a minute. Wait a minute. I didn't retype it. 164.46 back in November, December of 2021 and it makes the dreaded H pattern. Two of them. A big one breaks down. Goes all the way down to 99.35 bounces to the 130s. Makes another dreaded H. Re-tests at 100.80 has a fabulous move. P-K-P-P-C-P-D and a P-E book comes back down makes an inverted V-shaped pattern plummets down to the low that was made in the 83.50 area. I can't remember. I saw it the other day. 80 83.25 on the 12th of May. 83.25. There's your chart. 83.25 and that's the reason why I've said yes we've built up a huge cash position. I'm not actually in a great hurry just to put it to work because we've got it. I love the fact that we've got a cash position. I love the fact that we are long the Dow from way just off the low. I have a couple positions and we have the long-term long position from April of 2020. Still have that. A good part of it. I don't feel that I need to be in a great hurry to put the money to work just because it's there. I have to find the right stocks at the right price and put in the bids. We'll see what happens. We also have had just very low price single-digit stocks that have been screamers. They have the capability, the intraday of moving up huge and then coming back and by the end of the day, you've seen a fantastic, unless you're taking money off on each bounce, you can see a huge gain turn into either a small loss or maybe give back until it pops again. So I'm just being very selective and I think it's important in this particular environment to say, I do not know 100%. I have ideas. I can trade those ideas, but the market is the boss. That's the most important thing. Asmatures. Yes, question about the Asmatures. Asmatures, legs see to the upside gone from 215 up to today's high of 246. 30 points on a $270 I mean, that's 15%. That's a really nice gain, but the high of $318.69, remember all those double tops on the upside, we've been looking at the potential for double bottoms on the downside. So you got $318.82 in November for the Asmatures semiconductor ETF, pulls back sharply and then it runs back up and it goes where? To $318.69 $0.23 or something off the previous $0.32 Yeah, $0.23 and now look at this, it plummets down to the 215 area so there's 100 points, it's almost a 30% decline and now it's trying to rally. It is making a beautiful deliberate it's a how can I call it? Yeah, I'll just call it deliberate. It's a deliberate attempt going from a buy signal that fails to a buy signal again it hasn't gone to a buy mode but that support in the, it's a 241 right now, the support in the 236 232 area is going to be crucial to monitor over the next week because if at any point it's able to close above in June, above the 258, 200 period moving average, close there on a weekly basis. This is the daily 200 period moving average. I want to see a close on a weekly basis above that level and that will be very important because it significantly goes above the 14 period moving average of the of the weekly chart and that's still negative because the pink 9 period moving average is still way below. This is all a work in progress the move that we had yesterday 222 points down we now have 214 points down so we've taken back all of we go to the dark quickly quickly give it back all of Friday's surprise game that big group not more, a good chunk of Friday's big game to the upside that 50 period moving average what a tremendous huge resistance area I'll be back. Are you in the market for buying or selling real estate in the Bay Area including the surrounding St. Petersburg Tampa and Clearwater markets? Tiger Real Estate LLC is a firm that has extensive experience in the Tampa Bay area 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 across all price levels from the price you should be paying per square foot in certain up and coming areas to the type of cash flow 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 called 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 the technology around us is changing every day with so much happening it can seem impossible to keep up with all the information David White's investment newsletter the technology insider is designed to give you all the information you need to understand the technology that shapes today's markets and tomorrow's future David White has made his living staying on the cutting edge of technology his weekly newsletter will give you specific recommendations for value tech stocks as well as entry prices target prices and stops to set for each trade Dave delivers his weekly newsletters every Friday with updates throughout the week the technology insider at tfnn.com for only $37 in 50 cents sign up for David's newsletter the technology insider and get an inside look at everything the technology sector has to offer try it risk free today with our 30 day money back guarantee 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 tfnn biotech 3 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 principle 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 I'll close your back so the one minute charge David Pete Easton Jeffwave at 29 this morning at 4 641 65.00 around number high and then what did you do it pull back and it held on to the 200 period moving average to this it's like it like it was just made for it gives a landing spot landing spot breaks under a tricer ready back again this is the orange 200 period moving average and then kaboom plummets down and that was from the uh was from the one-minute chart the two-minute chart made a peak G at that same level right there and then you get the 10 minutes and the 10 minute chart made a beautiful uh right there it was a beautiful peak D and it gave you Jeffwave Roman candle to the downside and 200 period moving average the seesaw was up and down up and down eventually whoops it's gone down and it plummets and now we're at 4101 so there's 4165 round number high to the 4103 level we're at right now we'll see if we're going to start to find some support so that by the end of the day uh instead of accelerating lower we start to at least in some of the stronger indices try to find some kind of support we'll see the days young now let's go to the question that I had here was XLU the XLU is the S&P select utilities fund made a peak F I'm being as conservative as possible according to peak F in the monthly chart a beautiful up channel within that up channel goes to the chamber of inside track repellent zone gets repelled now it's pulled back and it holds the 9 period exponential moving average so the question I had for myself when I was working on this just recently was is this a brand new buy a buy mode indication it made a peak E and the Chapman wave methodology and the week of the 31st of December it pulled back pretty sharp it broke just broke under under the key support level and then closed back above it and it looks to me like I have no choice but to call this an alternate count F slash B and the reason why I'm doing all this is because given the dating weekly would you add here the question from Cody in the in the XLU and I'm going to suggest this it made a peak F a double top at 77.23 in April pulls back to the 40 period moving average and then it has a quick spike and it goes to 77.17 I discussed this I didn't draw this because it seemed unnecessary it was very obvious that the high that was made the week of the 8th of April and then the retest fractionally under 5 cents below on the 20th of April had much weaker technicals and then we came tumbling down almost to the 200 period moving average made the lowercase H pattern and then starts to rally as if it was going to do the pattern that I talk about where the lowercase H successfully restarts and suddenly becomes a cup formation except now we're going sideways so the answer to your question is if you're in it and you're in from lower down let's just give it two more today Wednesday let's give it until Friday show I to tell you the truth I didn't like the fact that it really reached C the technicals were very good and that yesterday was an inside bar now looking at today's ugly candle down 58 cents to 1775 I'm beginning to think that it's using up time rather than price I can draw this in and I'll do it and it's not 100% correct but at least for now I can give you a nice sense of what we're looking at so I don't know if I would tell you to put money to work right now by adding to it let's just look at it again in another couple of minutes we're going to gain Friday but I can't tell you right now because there is a chance that that was an inverted V right here so that's a little carrot top if there's if you've used up a down arrow and you haven't gone and now you go to a new high without taking out the previous low it means that you can use an alternate count in the Chathamay methodology it just helps you but you got to use the shorter term time frame and the shorter time time frame is really struggling and I have a potential peak effort could be an alternate count even in the monthly chart so yes yields at this particular point are still rallying in a sense the utilities have had brief pullbacks and then they've gone to higher highs is this just another one give me a night I don't want you to add anything right now if it's not working so I'm just saying keep your core position I don't think you would add is down 60 cents maybe by Friday if it pulls back whole 73 30 the 14 period moving average it's green it's still very positive and the magnies goodness the castings at 89% I would like to add it but it might be becoming a sector that's out of favor that's why it's not a new high and a stalling here so I'm just saying to you hold off Duffy says the dollar is rallying the dollar is yep it's running nicely it's up 62 ticks 102.39 we're not out of the woods that dollars well we are still longer dollar from 90.07 via the U.P. from 2018 so I'm not going to say anything there but what I am going to say is that the U.S. has a peak C1 C2 potential double top that's the U.S. bonds so the whole thing is getting a little bit more complex now and as a result I'm just going to say I want to watch everything I also want to watch crude oil because crude oil is just not what are we up a dollar 25 giving up a little bit I'm watching crude oil because if crude oil breaks and closes above 121 on any day in the next five going into Tuesday a week week yeah let's go Tuesday Wednesday of next week I think then we've got this cup formation that says higher highs and higher lows can see the price in the weekly chart go to just under right on or just above the previous highest 125.83 and then we get a test and that's where you get a much bigger correction in time we'll see Instagram weekly on crude not looking good hanging in the air that's the Instagram right here it is it is improving but it isn't anywhere as strong as it was stochastic still way down at 65 the on balance volume is really good for getting a little overboard I think crude oil is getting a little overboard but I wouldn't get in the way at this particular point and it might just use up that energy by going sideways goes to 125 let's say and then suddenly you're looking at it stuck between 112 and 107 and it just stays there for a while who knows so I wouldn't be playing games there so there are a couple of things that I was asked about a gdx yes let's look at the gdx the gdx is going to a peak c1 c2 just like the bonds it looks like the bonds doesn't it so there it is peak c c1 and c2 it's actually almost c3 but this is called a c2 and very often peak c1 c2 can still see a leg d but you got to be careful treated like it is a peak d in the second digestive phase so this is my my contention for a long time has been that the gdx is not acting as well as it should especially with of the dollar having pulled back so sharply and yet it hasn't been able to favor gold so the gold miners that's kind of the clue for me so just be careful um okay alright so we've got a break coming up final break don't forget folks it's a week from this Friday yes a week from this Friday someone's buying just one of these great nicer glasses all day webinar check it out what's that I'll be back in a moment I'll see you next time sharpening your skills as an investor is like getting better at playing a musical 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thoughts on ERF going along with a small position went to I thought we did that and I said to start a position maybe you didn't hear I've even typed it in right here this is the the session of the 26th of May I said start a position because it's in leg C and if you get it and leg C extends higher then you've got a pullback for leg peak C and then a new leg up for leg D and that's the best time to get it so now that was I think it was at 1450 58 at the time I'm just guessing here now it's making a leg C today could be a peak C it hit 15.533 you know what I'm going to do I usually do it on a Friday do technical analysis but round number highs and lows I'll talk about it tomorrow I don't have time obviously right now so what I'm going to say is I like in a plus core oil and gas assets but now at 15.03 and we were talking about it at about 15.58 yeah it's 50 cents doesn't sound much but I tell you what I'm going to say to you is why not start a very small position here on ERF trading at 15.03 yes it could pull back for peak C but then it should still go to a leg D above the high of yesterday which is 15.50 if it doesn't do that today and then let's talk about it because I'll explain what I'll do in fact I'll still talk about it tomorrow I'll put it in here I'll talk about it whether or not you're in it and I'll tell you why I'm saying I like it but it would only be a trade right now because you've lost all the impetus to the upside so first we're going to wrap it up that very piece of intro is coming up I don't forget that Tom's got a webinar coming up Friday week great program here you've got Larry you've got thinkorswim Kevin Hinks you've got Steve Rhodes Dave White Tom O'Brien cracks it up and check out both people my dating newsletter I'll see you tomorrow have wonderful care