 The following is a presentation of TFNN. Tiger Technician Hour with your host, Hazel Chapman. Call now. Call free at 1-877-927-6648. Good morning, everyone. Hazel Chapman here. This is the Tiger Technician Hour on this Tuesday, the 30th of May. We're going to be looking at some of these monthly charts to see what happens to the candles that are unfolding right now. The dial over the last three weeks has been one of the weaker indices, together with IWM, the Russell 2000. What has led the way has been the QQQ, the SMH, the semiconductor ETF, the QQQ is the NDX100, and the XLK, which is the S&P Select Tech Sector. Now look at this chart. In the dial you've made lower lows. God, I'm going to leave. I didn't, sir. I just need to write that. And low highs. At this particular point, the MACD is still weak. The 9 is under the 14. The price is under the 200-period moving average. The stochastic is kind of weak at 21. The on-balance volume is very weak. And I thought that there was a chance that today we could get some kind of a bounce in the dial as we rotate through. That's been, the modus operandi for so long has been that when one particular sector or sector has been leading the way, the laggards just kind of sit back and have to watch. And then when the others start to take a bit of a breather, the laggards start to rally. And that's how you keep this equilibrium, so that the bull market remains intact. Well, if that's going to be the case, in this particular instance where we've got, we don't know for sure just exactly what's going to happen with the deficit, et cetera. But at the same time, what we're really looking at is the market has a way of ignoring what it wants to ignore. Remember, let me just show you if I've got the chart right here. I think I do. This is the chart right here. So I call it the dark news cloud cover. There's always something out there that's, interest rates used to be impeachment, and then it was a budget deficit. Then it was a conflagration between two parties. It just went on and on and on. There's always something. But the market tends to ignore it and then take it seriously. Ignore it and then take it seriously. So this blanket, this dark news cover, for anyone who's traveled thousands of miles, you know that sometimes you can go for a thousand miles or more with cloud cover. I mean, nature is so immense that that cloud cover can just sit there over a thousand miles of the ocean or right across the country, whatever it is. Well, this is a cloud cover that's been right in place since 11, 11, 2022. That's when I noted that there was probably a dark news cloud cover. So that puts a really strong resistance area in the Dow between 33,700 and 34,300. We can go higher, but that's kind of the area where if we can break through those resistance levels, something else that's very positive is happening. At the same time, we keep making lower lows and lower highs. So that's affecting the Dow. And for me, the Dow is really the Dow 30, because it's really a fantastic amalgam between, I mean, you've got Apple, you've got Boeing, which is a cyclical, which is an industrial Home Depot. I suppose in a way you could call that as an industrial because it really is deep into the economy. Maybe Honeywell to a certain extent, but Disney, Coca-Cola, so Amgen, you know, you're talking about a real mix. It's a fabulous mix. I love the Dow because at this point, it's taking a big digestive phase because it was leading the market up to the 1st of May. And now look what's happened. You've got the S&P right now, the Dow's down 70. Did I type it in the wrong place? Let's see if I can do this. There we go. S&P is trading right now down... No, I am typing it into the wrong... Oh, I've typed it into that chart. Okay, very fine. There we go. S&P X, I always have a trouble with the S&P. There it is. S&P broke to a new recovery high. It's almost a yearly high and trading at up 9 and 42.16. And this is what I'm really looking at. Look, you've got that missing leg D in the chat wave. You're always looking... Oh, and I should mention this now before I forget. Tomorrow at 7 o'clock online, I'll be doing a webinar. It's kind of... It's an invitation. Big, the IG is the Boston Investors Group. And they have these meetings. And I've been speaking to this group or the group that's associated with it. It used to be Investors Business Daily. Then before that it was something else. But I'd be giving a talk here once or twice a year for years and years and years. Decades, actually. So this is going to be fun. And it's a perfect time because it's a real challenge right now to say, you know what's working. But it's to look out a few months and say, what is possibly going to be the next... Not necessarily the same standard. Not necessarily the same elevation. But what is going to be the next area of interest in the general market? And now I can't remember what I was trying to... Oh, that's what I was trying to do. Let me just see if I can find this right here. There it is. So this is an upcoming event. Wednesday, May the 31st, 2023, 7 p.m. Eastern Time, BIG. That's the Boston Investors Group Meeting. Preparing for the next few months. Basel Chapman, guest speaker. And it'll be on Zoom. And I had the link. I've got the link somewhere. But actually what you have to do is go to Google Boston Investors Group Meeting. And it'll be right there. Very easy to get to. So I'll be the guest speaker. It's usually about two hours or so. And I'll be taking questions. We've got to be able to get everything running smoothly when it comes to these internet actions. Sometimes just everything goes very nicely. Sometimes there's a little bit of a blooper and you have to deal with it. OK. So the S&P has finally made that lag, Dean. The Chapman Wave methodology, what are we looking for? We're always looking for a buy signal to be upgraded to a buy mode. We should imply that not only will you go to peak A, B, and then C, but you'll go to at least a D. At least a D, you could go higher. But that's the objective. Add D, other things kicking in the Chapman Wave methodology. Look here, we went to a G on the 1st of May at 418692, pulled back quite sharp. You made a lower low and then started this move, peak A, B, gray A, gray B, and then C said, hey, the technicals are improving enough. We should get a D and we got that D. We got it not in the S&P on Friday. We got it in the spy. OK. With that said, I don't like to see very quick peak D to peak E and then a sharp move down. D to E says you must always circle it and it could be a Chapman Wave instant restart. If you've gotten there within three, within three bars, this is within two bars today. We're making leg E. Let me expand this a little bit so you know what I'm talking about. There it is. There's your leg E. And the magnus is good. The stochastic is fabulous at 92%. Unbalanced one is not overboard. It's very good. The nine is way over the 14 and the price is way over the nine. So all I can say is that at this particular point for getting all that dog news cloud cover that's out there, the price is saying woohoo. I like what I'm seeing. That's what it's saying. QQQ. Look at that. Look at that move out. Spectacular move. I'll be back in a moment. That was the Chapman Dolls down 63. S&P's up nine. We'll be right back. If you're looking for potential trading setups in the stock market, then Rocket Equities and Options Report is a newsletter you should try. 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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. TFNN has launched the Tiger's Den, 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, 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. Sign up today and become a part of this educational community of traders. Just visit the front page of TFNN.com. Toll Free at 1-877-927-6648. Internationally at 727-873-7618. So, folks, this on the left is the daily. In the middle is the weekly. And on the right is the monthly. This is the QQQ chart. The Investor QQQ trustee is the NDX100 trading vehicle. Look, from the doji candle low, it looked as if we were about to have a little bit of a feeling here on the 24th of May. You get a big gap up with the doji candle. Huh, doji candle at a new recovery high. On balance volume getting a little overboard. Should have a pullback. No, screams again. Look at the technicals just keep you on the buy side here. Look at that. The green nine period moving average and spikes up. And today we've gapped up again by any stretch of the imagination. Right here, we should be seeing some kind of, some kind of, how can I put it, an overbought situation on the shorter timeframe, that's the daily, becoming overbought in the weekly, but still with the technicals very, very strong. And the monthly chart is 0.16. This is the first time that the MACD has crossed positive since it went negative about almost a year ago. So when you put the whole thing together, you say overbought, yes. So now let me draw the two patterns that I'll always look at when you've got like a huge rocket ship to the upside. I always say, okay, either it gives it back and you've got the Eiffel Tower pattern, which means that the high in the next day or two, that high will be a high of absolute consequence because there'll be a, the rocket ship space move up, it's going to reverse to a rocket space move down. And that means that within in a price time match by, let me just look at my calendar here. So on the 31st, that's Wednesday, that's tomorrow. That's the last day. Thursday comes in the first of the new month. And I would have to put it by Monday, a Monday the fifth. So that is a week from today. Yeah, a week from, what is today? Tuesday? Yeah, just less than a week from today. No, no, no. Why am I getting confused? Yes, yes. So that would say that by early next week, or maybe let's give it all the benefit of the doubt. Let's say by the middle of this week, this coming week, that is the beginning of the first full week of June, we're testing the candle high and low of 332.91 in the candle of the 24th of May, which has a low of 329.56. But wait a minute, that's one way. The other way is to say, you could have a high level consolidation. And the reason why I say that is when a sector, which has been doing okay, suddenly catches a light and it really becomes the sector du jour. But this case is not just a sector. It is sectors. There is buying comes in on every dip until investors' business daily, top 50, doesn't have the crowd in that sector anymore. So just instead of having out of 50, they have 19 to 25 leaders in the top 50, it shrinks. But that means you'd have to have that big sharp decline. So there's another way to look at it. So I give it a little bit of an upside, extra upside. I don't think 351, the high of the back in April of last year is our target. Just at this particular moment, it's only 20 points away. But I think we might miss that. But what I would say is I'll do it on the daily chart. I'm going to put in a rectangle going to just Friday's low. Friday's low is the 339 area. Right? We are 351. So we could have a consolidation where we rotate so that on the upside, you've got spectacular stocks like an NVIDIA made another high today to 419. And just four days ago, it was trading at the 309 level. I mean, this is spectacular stuff, right? And I put in the rectangle there to say those are the levels that I'm looking at in the technique that I use for gaps. I don't want to talk about that now because there's a lot that people have asked me about. So let me just do this. We've got enough AMD. We've got so many spectacular stocks. Look at this big red candle having made a new recovery high all the way to 130 79 today. So these guys are getting a little bit tired, but as they get tired, my suspicion is they actually have a consolidation but hold better. They consolidate by having the weakest ones pull back. There's Marvell in there. It all says one of the strong ones. It's usually a huge gap. Marvell trading a couple of days ago at 44. Today it hits 67. I mean 25 38. I mean by a third more than a third to the upside. So then I'm looking at some kind of a consolidation, right? Just I'm calling it a consolidation because the fervor and the buying was so intense that you got to get a pullback. But at least for a little while, I think you'll just keep these bursts where people say, wow, I missed it. I've got to get it and it'll sustain the price. I don't think we've got an inverted V shape pattern where we just go screaming to the downside now. I think we do that a little later. In the meantime, I want to look at stuff like the XLF, like the financials. Is it even possible with yields having gone this high for the financials to say, you know, this is this could benefit us. I know economically what's going on is not benefitting in the banks of this particular point. But is there a chance that we see the XLF trading at 32 thirteen and maybe some of the regional banks, some of the money center banks just find a little bit of strength to in the meantime. If we start to see the pullback in the high tech sector, especially the semi high tech sector that we we see a rotation. Now, we haven't always seen that. I'm just saying this is the way I want to look at the market for the next couple of actually first days and weeks and then months so that by the time the summer's finished, we've had consolidations in some of the overboard sectors and we're ready for another move to the upside. And this this time we could rotate through other sectors. That'll be really important. Number one. Number two is the semiconductors. Look at this. Is that the spectacular move? Hundred and thirty. Hundred and twenties. Just the other day. Today's high is one hundred fifty one seventy one. Hundred and forty two is an outside chance. Three weeks, two weeks ago when I did that in a short time timeframe. Hundred and fifty nine is the next level, but the all-time high is a hundred hundred and that was a hundred and fifty-nines. Yeah, the double top. It made a higher November of twenty twenty one and one fifty nine forty one next month of December went to one fifty eight ninety six and the following month they went to one fifty nine thirty five. So what by the way hundred fifty nine forty one. The way these levels come back to within pennies sometimes of huge price moves. I think just the sounds of one fifty nine. I think I said forty two. I'm going to type that in forty two. And I think I said November eleven. I'll check it out later on two thousand and twenty one twenty one. Twenty one. Yeah, twenty one. All right. So with that said, we've got a break coming up and I want you to just go through these things the XLK the same thing XLK is trading up one point five six and one forty eight ninety one forty twos was the target of them was an outside chance. Wow. Today's high was a hundred fifty one seventy five. This is we are really set up to have some kind of a dead digestive phase. When I get back, we look at gold and silver and copper and Steve Rhodes started his trading career as a student almost twenty years ago and the student has now become the master. Steve won the prestigious Timer of the Year award in twenty eighteen and barely missed that mark again in twenty nineteen finishing at number two for the year. An amazing accomplishment. Steve Rhodes is committed to sharing his techniques and knowledge with anyone who wants to learn and he shares his vast amount of trading knowledge every day in his mastering probability newsletter. Steve's award winning newsletter mastering probability is delivered every trading day with updates throughout the afternoon. Sign up for Steve's market newsletter mastering probability and you'll receive access to seven of Steve's educational webinars absolutely free. At TFNN all our newsletters come with a 30 day money back guarantee so you have absolutely nothing to worry about. Visit TFNN.com and try mastering probability thirty days risk free today. TFNN. Educating investors. TFNN has just launched their new trading room the Tiger's Den hosted at Discord. TFNN has been educating traders for more than twenty 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 Tigris for just one dollar 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 Tigris 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 so it's always at your reach to sign up today and become a part of this educational community of traders just visit the front page of TFNN.com Sharpening your skills as an investor is like getting better at playing a musical instrument you have to practice sure but you also need excellent instruction from experts at TFNN you'll get advice and guidance from the authority and technical market analysis and it's not just dry tedious text either. TFNN airs live financial content streamed live on TFNN.com and TFNN's YouTube channel with Tiger TV live every market day from 8 30 a.m. to 4 p.m. Eastern for free each host is an experienced trader and gives their take on the market while taking calls and questions live from around the world from the moment the market opens until the closing bell sounds Tiger TV has eight different shows with expert hosts to help you make the right moves with your money watch online at TFNN.com or on TFNN's YouTube channel and become the investor you were born to be TFNN educating investors 25 so my big year is being for a little while left the dating chart made this incredible double top at 3610 back on the 13th of April pulls back to the 33 level and then screams up the three points to 36.26 for a new leg F on the 4th of May I love these patterns where you get the cup formation and it's like the dreaded H upside down and fails and then what happens is the D flex lower the stochastic was not even close to where it was before and all of a sudden you're looking at the price tumbling from the 36 level to $30 that's 20% that's a big move almost 20% now what we're looking at is the monthly chart the weekly chart has got this M shape pattern that the G slide did I miss the G it should be a G slash the alternate count there it is alternate count could very well make a peak G because the stochastic slipped to 58% the on balance volumes weak and the monthly chart has struggled to get back to the inside track repellent zone but the technicals are not bad at all but I'm saying that the dictate is that the short term leads the next level it's like a speedboat you know how quickly a speedboat can turn around a super tanker takes forever well the monthly chart is a super tanker the middle one is the little ferry and you've got the little speedboat here the GDX dating is just struggling the tide is too strong the tide is coming back going to low tide and it's on its way it's at 30 I think 29 is going to be the whole 29 area that's going to be tough if it holds that that's a good sign because at that point the dollar might be starting to find some resistance I wrote it in the wrong place it should be there we go okay there we go this is the dollar DXY the dollar is holding okay it's down 10 ticks at 104.12 the left side high did I not type that in the left side high is the 104.70 area today's high is 104.53 let me see the exact high of the little ictus there I didn't want to go that high at this particular point which is 105.10 the high of the 15th of March I like to do things step by step so this candle high right here is there you are 107.74 104.74 that's what I was saying so that's kind of the next level of resistance is trying to get there the weekly chart is just in a rectangle formation I don't see the strength yet to say the dollar is streaming to the 107.108 area I just see the dollar as being in play at this particular point 100.79 today's high of 104.53 that's a pretty good percentage just on the way down that was a sharp move down on the way up it's a sharp move up but not big enough it needs to if the dollar starts to close in June above 106.50 for 2 out of 3 weeks so that means not only in June it goes into July then I'm going to say to you aha gold is in for a deeper correction and the dollar is leading and that's going to impact a lot of things including the market so okay I want you to do that just EURUSD look at that it tested the target we had was the 1.06 area for the 200 period moving average in the cup formation in the arch formation of the Chevrolet inside wedge target resistance line hit that weekly chart just like the left side right side price time actually we saw in the GDX daily you've got this now in the weekly chart of the Euro and the technicals are starting to fail it won't take much more if it goes down to 1.06 it's at 1.068 right now I suspect that you'll finally see the 9 period moving average in the weekly close negative and that just says maybe you've got a little more strength in the dollar than you're looking at right now but those are the levels that you have to look at because right now this 200 period moving average is a classic flat at 6% 6.4 on balance volume just slightly it's flat of course it's flat because this doesn't have volume but the MACD the histogram is improving just a little bit so all I can say is that this is going to be a really important point to monitor USDJPY is the yen looking at the yen it's gone to a leg C today I could give an alternative no I can't this is a leg C and because of it I'm suggesting that it's probably going to try for a D but it's in the higher range right now and that confirms that the dollar does show strength as the gold shows weakness looking at the GLD that's gold trades at 1.10 the price is what gold yep that's pulled back very sharply with the same double top and now we we've got a little bit of a bounce up 1 today 6181.99 that's just a balance I didn't complete this arch formation I'm not going to do it now because I've already done this on gold itself so there on the gold that's the one I use that's the template with the arch formation peak D and the Chapman wave peak D you got to be careful it can go higher but that's where other things can happen and other things have happened so now it's showing a little bit of strength up 14 in the gold I would anticipate that after such a big move to the downside but I still think that the 1935 200 period exponential moving average area is going to be a target for gold in the shorter term now let's go to silver so the question was is GDX a trade I don't think so maybe on a very short intraday but I would just I'd step aside for now I just don't think it's I don't think it's there yet and the GD the silver had that left side right side time price matching it fails within pennies look at this continuous contract had a high on the 14th of April of 26.44 and then the test on the first the 5th of May was at 26.43 unbelievable how that happens so yes and that's in the weekly chart as well so I just see golden silver just taking a breather here it's important that every once in a while they step aside and if the market do its thing high grade copper same thing pulling back quite sharply always put that together with wood the ice shares global and timber forestry also kind of stepping aside just digesting gains now I wanted to just say that within the gold and silver era there might be stocks that you can trade on a shorter term basis but I'd be a little careful I like to use ASA as a kind of a benchmark for me there's the ASA gold this is metals limited I just only on sentimental basis originally from South Africa and this is I think four or five gold stocks that make up this particular it's like an index almost and yeah it's pulling back and this might be a halfway mark it's at 1530 I'd say 1450 1450 will be a big test if it hits there so that's that all right so I hope I helped you there then Crudwell I'm just adding Crudwell I need to say the lowercase H that goes to a lowercase M as a pattern I've spoken about forever look there it is there's the sharp move down then you get the H pattern that goes to another arch makes an M and is breaking down a close underneath the this is a continuous contract of Crudwell a close under 69 47 oh a close under 69 30 will say uh-oh now we're going to tackle this big candle with a low of 68.54 I don't know if it's going to go into that low of the wick of the uh the day May big spike to the upside okay that's that Crudwell now bonds 61 uh look there's your lowercase H that goes to a lowercase F it goes under the low that was made of 98.88 the week of the third of March that'll be very ugly so we're watching this plus I'll be right back down sound 101 the gold report as a precious metal gold is still king it continues to hold the most effective safe haven and hedging properties across the global major trading hubs of the London OTC market the US futures market and the Shanghai gold exchange the gold report Tom O'Brien publishes his weekly gold report every Monday morning for subscribers consisting of coverage of the XAU, HUI, GDX the dollar, bonds the South African rand as well as 25 different mining equities with specific buy sell recommendations the gold report new subscribers get a 30 day money back guarantee so you have nothing to risk subscribe to Tom O'Brien's gold report newsletter now at TFNN.com are you looking for a way to consistently add winning trades to your portfolio? Tom O'Brien is here to help Tom O'Brien has been successfully trading markets for over 30 years a frequent contributor to TD Ameritrade Network and CNBC Tom O'Brien founded TFNN over 20 years ago to help educate investors just like you Tom's daily market newsletter Market Insights is published every morning when the market is open to give you the competitive informational edge you need to succeed these newsletters are packed full of Tom's advanced technical analysis and are geared to deliver comprehensive strategies for a successful portfolio get Tom O'Brien's newsletter Market Insights today and try all of our products and newsletters 30 days risk free with our money back guarantee at TFNN.com TFNN educating investors Biotech is booming but for how long? Whether you think the Biotech bull has room to run or has run its course trade LABU or LABD Directions daily S&P Biotech 3 times bull and bear ETFs Visit DirectionInvestments.com slash Biotech today an investor should consider the investment objectives, risks, charges and expenses of the direction chairs carefully before investing the prospectus and summary prospectus contain this and other information about direction chairs 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 four-side fund services LLC this program is brought to you by Vista Gold traded on the NYSE American and TSX under the symbol VGZ Hi folks, so in this pattern that we're looking at, remember the arch can become lowercase H that goes to a lowercase F that's what you got there this is actually a pattern that I look at based on the MACD it deflected low in the E-mini on the 10 minute chart and peak F in the pullback really sharply from the 42 43ish high comes all the way down to the 42 14 area now it's trying to write a question in the Tiger YouTube was can the E-mini make a new retest today's high I think that's going to be tough to do I can see that 42 30 to 42 33 maybe 42 35 is a possibility if each selling produces a good rebound all of a sudden people are going to say I can't short I'm sorry I have to buy and they're going to start buying but if we start to trade under 42 10 in the E-mini that's kind of done I don't think we can go to a new test to a test of the high today now let me just do a couple of things here so a question came in about Amazon actually it's more a statement more like Amazon they haven't made money in 5 6 7 years or whatever it is they must be cheating somewhere now I think that what happens is bookkeeping for huge huge companies like this I mean we're talking about there their quarterly report is better than probably 70% of countries around the world I mean that's the way you have to look at it so what they can do with their books and you think they haven't got the best accountants in the world so I would not say cheating or stealing or thieving or anything like that I would not do that at all I'm absolutely 100% sure that some of it goes on but that's not the business that's because you've got employees you've got tens of thousands of employees things like it happen and I suspect that they've got a pretty good handle on a lot of things but it's mostly that they plow the money back into building the company and that's what Basis has done forever just constantly pushing pushing pushing the limits of every single thing I mean I've there was a show recently showing the warehouse here in Massachusetts in Fall River and actually Fall River is a place that's really come along a long way in fact over the last few years they have some fabulous companies businesses there not just restaurants so anyway so in Fall River and there it's because it's close to the the highways there were many reasons but they have technology that is just incredible you order something you can get it almost the same day or not almost in some cases you get it the same day within hours sometimes so I don't look at it that way I cannot get into that I can only look at the charts our who was it from Boston got into Amazon started at 84 and look at this right now it's trading at 121 I mean that's 50% that's a beautiful gain now what we're looking at is the cup formation says that it's gone above the left side high of the week of the 28th of October of 121 32 now it's testing high of the week of the 7th of October of 123 16 today's high is 123 122 92 I mean that's how I like to look at these one step at a time on the left side so I consider that Amazon has hasn't made the October low is that really 8143 is that really the low that's going to be tested because there's some really bad news coming up dark news cloud cover no I think that's the whole area of 112 to 104 that should be very strong support in any sudden turn down in Amazon regardless of what the reason is it's an online shopping it's an online shopping mall and it's just easy for people to use that so I'm sorry I can't look at it that way I can look at it technically and say the daily is fabulous a little overboard based on volume so that makes 121 right now makes 119 to 116 very that's where it was on Friday very strong initial support if it takes it out then you can go into the 100 times hmm alright so that a couple of questions there I had a question about FXI that's the China large cap I said be careful I don't like this arch formation low case H to go so low case M in the weekend fails you can go quite a bit lower and low and behold minus 2.57% down 50 69 cents at 2614 be real careful because if it takes out all these support levels at 25 17 that's the low of the week of the 2nd of December that's a big problem 1020 S&Ps up now up 5.5 really mixed market but I think that we're in the throws right now of testing what's left of that whole artificial intelligence surge and in really in particular leading leading the way to the upside that's going to be to me that's just really important but as I say I want to see if this particular pullback that I'm anticipating and subscribers know that I was looking at going to the shore side but just as a quick trade we wanted to get something long that we are long very very tight stop I just to see if there can be a residual strength and then to flip to the to the downside I think we might already be flipping to the downside we'll see you about that but so many look IYT the transports just stuck in a range not breaking down not breaking up it's amazing how key indices like the transportation index why because it's such a mix it's got CSX I want to forget the notation yes I do went to peak ABC just the latest peak D right there in April pulls back let me show you this I'll do this live there's a down arrow because it made that peak D very sharply but the 9p moving average held very well so it was a severe pullback but look at this brand new store residual strength goes to peak A peak B, peak C what do you expect in the bi-signal to bi-mode at peak D and now the 9p moving averages turned down so I'm looking at this in terms of rotation rotating through different sectors jets this is the jets is the US Global Jets ATF it's the United States airline basically the airline index went to a peak D and pulled back in a sideways range what do we got you got truckers what's one of the truck isn't why a trucker elegane oh it's gone was it taken away I lost my why what is a trucker you got Ryder let's just go to Ryder is that R? Ryder systems so yeah it's the same thing supply chain transportation fleet management solutions at peak E in the monthly chart pulling back now still technicals are holding okay weekly technicals are failing at 79 69 and you've got your big spike to the peak A peak B it's the 200p moving average and it's pulling back it's just stuck in the range let's see if FDX is doing the same thing for Holy Express having a high level consolidation not the monthly chart but in the in the weekly chart so it's holding quite nice it's not I'm saying this in the market but it's so selective it's just wanting to know a question came in before before you wrap up put your look at the AI area yes I'll be back and now they are expanding their reach with the Tigers Den available to all Tigers and Tigresses for just $1 for the year there's no cash or added costs when you join our community of traders in the Tigers Den you can look over the shoulders of Tom O'Brien and the other TNN hosts while they analyze 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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 this segment is brought to you by thinkorswim for more information just click the thinkorswim banner on the front page of TFNN.com I'm going to say the bug which is the global cyber security ETF I had a nice spike to the upside spot 20 area all the way to days high of 2440 let's see it should pull back maybe you make one higher high let's see hack because the two go together hack is the prime cyber security ETF security stocks it's in leg D went above the target we had here and that was the left side high of on the 18th of 40 850 and today's high is 4940 and it's in leg D so yeah I think that we in for some kind of a digestive phase and this is so choppy I'm still calling this just an F right now in the in the weekly chart because it's just stuck in this rectangle keeps making slightly high highs and pulls back slightly high highs and pulls back so these areas are in the next couple of weeks on a pullback this is an area that I think should do very nicely in the meantime back in the range for today this is what I'm looking at the Dow is down 129 struggling and it didn't make a new recovery high today and that was kind of important to me at this particular stage the technicals are all weak there is just enough residual strength to say it could try for the 30,000 150s here it is a 30,000 965 the next day or two but these monthly charts I'm going to talk about them a lot tomorrow and I will also do that when I'm doing my this is going to be a webinar for Boston Investors Group at seven o'clock it'll be I believe it's free and you can just go to the web and you'll be able to find it it's pretty straightforward and it'll be from seven o'clock Eastern time until nine now for today if the Dow 124 if the Dow is holding off 215 this afternoon if it's holding more than 100 minus 180 that says uh oh it's going to be pulling back and then you'll probably see the queues right now up 319 and 351 if they start to trade under 349 this is now we've got