 The following is a presentation of TFNN Trade what you see With Larry Pezzavento Call now toll free at 1-877-927-6648 or internationally at 727-445-1044 Now Larry Pezzavento Hi everyone, this is Basel Chapman sitting here for Larry Pezzavento I'm usually the one doing the noon time Eastern time 11. That's 12 o'clock to 1 o'clock Show called the Tiger technicians hour. I'm also the author of the opening call a daily newsletter. Well, let's go straight to the news That's important. We've got the doubt trading at 27,198 at the close yesterday Apple comes out with very good surprise upside earnings and it's up about eight points right now So the ym which is the Dow futures trading at 27,224 still stuck in this channel This is gonna be very interesting because after the Fed speak today That's between 2 o'clock and 230 whenever they start giving out that news about what they're gonna do with racers probably will be a quarter point to cut because I just don't see them going 50 right now. Why would they want to do 50 and they want to save a little Little time and energy for later when they probably will need it So I think 25 cents and then say data dependence That's the very easiest thing to do and that says that if the Dow starts to trade There's late this afternoon and is holding a plus a hundred something or other That's let's just say it's going to the 27,300s. This is not the futures of the cash That's gonna be very important because the last high the all-time high INDU the high on the 15th was 27,398 if by any chance there's a sudden short squeeze or whatever it is and All of a sudden you're looking at the market Spiking to the upside, but I would like to see all the indices doing the same thing not just one What would happen is that you'd get short covering and that could last maybe into tomorrow What's really important about the work? I do is that this rectangle formation? I have a rule that says a rectangle formation could last a lot longer than your patience We've been this rectangle between 27,400 and 27,000 for one two three four five six seven eight nine ten ten sessions That's that's almost two weeks and we haven't broken out a close on the Dow below 26,950 between now and Friday would be very negative In the short term the weekly chart is still really strong Look at the wiki charts all the way around look at the wiki chart of the Dow You get the weekly chart of the S&P You can see this what I call the chapwave inside track repellent zone You see this all all of us have our techniques and there's just got a whole host of Techniques that he uses all the time uses it uses them really well. I believe very strong He doesn't matter what you do just do it over and over and consistently and if it works for you Just keep using it don't have to have anybody give you a check to say, you know Take it off to say great That's that's what it's yours and whatever I do. I like to say when I'm talking to subscribers I like to say this has become yours Don't think of it as my technique that you're using try to develop it so that it's a meld of your own technique Plus maybe a little bit of someone else's and it becomes yours a personal thing You don't have to look up to say did I do this correctly? You'll know so what I'm doing is There's a chapwave technique where we look at a D when you go to the fourth highest peak That's where other things can happen. S&P made a peak D at 3037 let me just explain that to you in my technology my technical tools I should say I think of only three patterns straight up or straight down. That's one an Arch formation. That's two and a cup formation. That's three What is it arch you go from one point you rally and you come back and you test that left side low It could be an inverted V but it's the same principle and the cup is going from one point down Coming back up now you can get a mix so this call them three patterns But it's 3a and then 3b is a mix of them and you get your straight line You get your arch wider make it red because if you take out that left side low with bad Technicals in other words, I use the McDean moving average convergence divergence and the slow stochastic You can go quite a bit lower and on the upside in the wine formation In green if you take out that left side high With good technicals you can keep going high. So it's very simple. Let's see for how it works in practice There's a very large arch formation if the Dow doesn't say if the S&P doesn't start trading in the 3100s in the next week or two This arch formation says you can go chop chop chop in the sideways to slightly down Formation and that makes a 2980 level 2977 very strong support that must hold Weekly chart. Yes, this chap we've inside track whenever you get into this range the price seems to pull back It's like a magnet that brings it to you and then you reverse the magnet and it pushes you away But the magdies still strong as the castics at 94 percent I think that's fabulous and the weekly chart is it's just next just broken out of the chap away inside track repellent zone in the nine month consolidation from the January high of 2872s down to the low of 2603 was a February or so and then you go all the way back in September to 2940 break out break above the previous high Decisively go to peak E in the Chapman way plunge to 2346 nine months later. That's this month finishing today You're going to write to this To the edge you broke above it by a fraction maybe two points you pulled back 3013 right now the SMB futures are up at 3016 up 4.50 the down futures are up 59 at 27223 obviously helped by Apple ha this is going to be really interesting. What happens today? I have my theories and I'll talk about it But let's go to the QQQ, which is the NDX 100 peak D. Once again, we've got a peak D We did that through an alternate wave count now the whole thing about this one I don't want to dwell too much on this maybe in my show at noon. I'll do a little bit more on it. Why is this important? Because there was a technique that I use called the Chapman wave instant restart Go to the fourth highest peak peak D and within three bars You're making your high But if you're making your high and the technicals are still good yet you pull back underneath or right to the low of D The truck D that says be careful because when you make your final move to the upside peak D In a new buy mode you could come all the way back and that would mean you come all the way back to 189 that's four and a half points down More actually at this particular point So this is what we're looking at so the QQQQs have done very well the weekly chart looks fabulous The monthly chart has broken out. There's this rising wedge formation. It took out that high This is not the close we have to wait for four o'clock today if it closes over 193 17 and it's a 194 38 right now up 60 cents pre-market. That's going to be a big deal So now let's go on and we want to look at the IWM, which has been a little angered The IWM right now is trading at 157 81 Down point oh three pre-market look a rectangle formation can last a lot longer than your patients than the first of june 150 803 it's gone down to the 153 60 wasn't 153 40 level on the 22nd of july yesterday runs all the way back to that almost the 158 level it goes to 157 84 stuck in a range. Let's see what happens here and The monthly chart shows you that it's really lagging very poorly now Let's go through the other things gold gold is up to at 1443 point nine is stuck in this Rectangle formation can last a lot longer than your patients I'll tell you what I'm expecting to happen this afternoon and what if it does happen or what if it doesn't happen when we get back The dollar has been absolutely fabulous. It's right up against resistance at 98 point oh five If you're not currently using the Taz profile scanner when looking at setting up your trading opportunities Then your arsenal is short a mighty weapon The Taz 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 headed by Steve doll Taz 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 You also gain access to the webinar that Steve doll and Tom O'Brien just hosted the best way to use the Taz profile scanner to profit This webinar archive is available for all subscribers Immediately upon signing up all new subscriptions also come with a 30-day money-back guarantee So you have nothing to risk start your subscription by visiting the front page of tfnn.com today And you'll find the Taz profile scanner under the services tab sign up today Are you in the market for buying or selling real estate in the Bay Area? 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So we've got I'm Basil Chapman sitting for Larry Percevento the one only Larry Percevento So what we're looking at is gold has been stuck in this range between the 15 40s one little pop to the 14 so the 1440s one little pop to 1454 back in the range Holding well, look if you use technical analysis if you use the nine period in the 14 period moving averages Look how it's really walked in the nine period the green one nine period moving average, but it's stuck in a range It just hasn't gone away. Look the Magde has failed miserably and yet the price is held I love that that's saying that there's internal strength look at the weekly chart of that big spike to the 1454 level back on the 19th of July We stuck and normally what ideas I grabbed the out of the outer wicks of a Pattern like this in the candlestick and I outlined them and I said, okay We could trade in that range and there we are we're back in that range That's the dating the monthly now look at we always looking for those leg D's the monthly has gone to a leg D Interestingly enough in the dollar the dollars has not administered by about 17 cents in my monthly chart Now one of the things that we were looking at forever since the April since actually the February low of 2018 for for subscribers to my opening call We went along the dollar in April at 90 and we've been anticipating because we go from one sequence to another one time frame The daily then improved enough to make the weekly time frame very strong really start to improve all of a sudden the daily The monthly start to really look like hey, that's good action. Then the magninistic and the monthly went very positive and The dollar went to a peak C pulled back last month this month it came within 17 cents But wait a minute the UUP which is the vehicle that we have since that's only trading vehicle there's power shoes DB US dollar bull has gone to a leg D It is under the previous peak G of 26 point 83 back in January of 2017 slumps from 26 83 to 2309 in January of 2018 loves those January's and then Rally strongly and at this particular point what we're looking at is that the magninistic and stochastic are very strong But we've missed by As I say 17 cents going to the new ice at 26 83 is the level we want 26 yesterday was 26 61. Oh, it's a little bit more than that because I looked at the left side peak C To go to a leg D. So the major move is 26 83 We're under that by at this particular point. We're under that by about 27 cent 20 something cents Yep, and what we're really looking at here is will the Fed now here we go. This is the lucky outlook for today Let's go through these things one at a time let's go to the Dow If the Fed Says that we're going to cut by a quarter point you see where the Dow is in this trading band I've said to subscribers if We have a very strong rally and the Dow is holding holding over a hundred points to the upside Preferably into in the twenty seven thousand three hundred and holding there. That says we could we could stay in this range Another couple of days before we go back into the lower part of the range They were breaking to the twenty seven thousand four hundreds in the next few days will be absolutely Really strong and that would say hey watch out not only is there short streets of a new buying coming in because people will be forced into the market But if the Dow closes any day below twenty six thousand nine fifty, there's a good chance we continue this consolidation that started Religion for the Dow middle of June for the S&P and what we're really looking at is the TLT Let's go there. This is bonds. So the bonds have been stuck in a range the 20 a T bond fund This is the I shares treasury bond ETF Trading at 131 74 down nine cents stuck in a range in this range has been going on for quite a while. Oh wrong one Let me go care Look at this. It's been in this range Other than popping out for a couple of days to the upside It's being kind of stuck in this range and that says that the TNX TNX dot X that is the ten year treasury bond The treasury note interest rate trading at 2.06 one twenty point sixty one if Later than today because of what the Fed says this suddenly spikes up and Closes not just spikes but closes over the highs of the 25th and 26th of July in the 21 area 2.1 percent That says, uh-oh TLT is going to be pulling back So yes, the TLT is going to be pulling back and It's going to go to the lower register and what I said to subscribe some opening calls every day I have a whole bunch of indexes and ETFs besides all the stocks and stuff that we're looking at or that we own and they We're using showing what we're a long or short or whatever I've said that if the TLT trades underneath the one 2980 now there was underneath this candle of the 12th 129 68 Let's call it under 129 60 at any points in the next week You're going to see yields push sharply higher if in fact the TLT breaks into the one right here 130 I want a little higher than that. Let's go to 130 270 area So that's a point up from here and holes there That's his yields are stuck in this lower range and that's going to be important And that's the way I'm looking at and the reason why I said about three three weeks or four weeks ago Is that I think that yields are stuck in a range for now? It's because this candle is the potential peak gene the Chapman wave this long-legged doji with it with a very tiny Open and closed on a weekly basis closing below it the following week suggested that there's weakness to the TLT and the yields could hold In the slightly higher office like you off the low doesn't have to they don't feel ready strongly But you could start a rectangle formation here in the TLT in this lower range as well in the weekly chart So let's make it real clear TLT starts to trade under one twenty nine That's going to suggest over the next few days that's going to suggest yields are going to get quite a bit higher the TLT trading at 132 70 or higher and holding there Said oh yours going to be stuck in the lower range and the competition around the world for low rates That's really what we're looking at we're looking at the commoditization of yields Like you had commoditization of the semiconductor chips as they were prices went lower and lower and lower and lower So you've got and and the pressure for other countries to produce more chips because and other other Companies to produce more chips because they had to sell more So that people would buy more to make up the difference because of the lower cost That's what we're seeing in rates So it's not so much because of the economy because the economy actually on the whole for what we know the Fed looks at They should be pretty satisfied things are going pretty nicely It's the competition for lower rates that I think is the issue That's the reason why they're going to be lowering rates if you look at silver Silver right now is trading down just a little bit down ten cents and sixteen point forty five made it peaky There's a rectangle formation is going to trade in this range. So this is going to be important. Here we go The Fed makes its decision. Let's just say twenty five cents What happens next we're going to have the open of the doubt in a few moments We'll talk about it in real time in a moment a vassal Chapman city for Larry Pezzavento I'll be right back in a couple of minutes and we'll go to life to the market Larry Pezzavento has just started his brand-new service Fibonacci 24-7 and he's already delivering content to 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 twenty five charts six videos and a full report to his subscribers in just one week If you're a technical trader that uses patterns and retracements to trade then Larry's service Fibonacci 24-7 is something that you must try right now new subscribers can get a full 30-day money back guarantee with nothing to risk sign up now to Larry Pezzavento's Fibonacci 24-7 by visiting the front page of TFNN comm under trading newsletters The path of least resistance is David White's daily trading newsletter And if you're looking for active trading ideas then now is a perfect time for a 30-day free trial to this powerful daily trading advisory service David uses his years of trading experience to offer his subscribers his trading ideas each morning in his path of least resistance newsletter Using a combination of equity trades along with options David keeps his subscribers up to date with all pertinent market information with intraday afternoon updates when warranted Don't miss out on this great chance to get a 30 day free trial to David's daily newsletter The path of least resistance with no obligation to pay anything David has been delivering solid recommendations for his subscribers recently And if you'd like to see the type of newsletter he delivers every morning Then visit the front page of TFNN and you'll find the path of least resistance under trading newsletters for all the details And to start your 30-day free trial today log on to TFNN dot-com now TFNN is excited about our new software charting program the art of timing the trade charts in Collaboration with Tom O'Brien and using his best-selling book the art of timing the trade your ultimate trading mastery system David White has programmed an outstanding piece of software that will complement any trader's methodology Using this first-of-its-kind program the art of timing the trade charts allows you to scan thousands of stocks for Fibonacci Formation setups including guardleafs ABCs butterflies and much more the art of timing the trade charts is designed to help you When scouring the markets for stocks just beginning to form the trading patterns that many investors spend days weeks or even months Searching to find and right now. We're offering licenses available at only $79 a month. We are so confident that you're gonna love this new charting software that will even give you a 30-day Unconditional money-back guarantee 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 dot-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 dot-com My folks were back Basil Trapp and city for Larry Piss event and I remember I was talking about my my The characters characterization of Patterns that I talk about the arch formation the cup formation straight line move But I also didn't mention that from an identifiable low We're always looking for the fourth highest peak we alphabetize them up a case on the way up lower case on the way down So this goes peak a next one's peak B next one's peak C one penny above C stars leg D So it's a makes a peak is it called peak D and a D the fourth highest peak other things can happen You go on to E F and G you can recycle whole bunch of things but D is what we always look for That's the objective in the chat wave to get you to at least D and then we've got other techniques to continue hold on This is now in the weekly chart for Apple a leg D finally it's gotten to that D and I didn't look so good down at 170. No, it's a 217 It's only leg B a great leg B in the weekly chart in the monthly chart because the mag D has not yet crossed positive and But it's a fantastic move going from 233 the all-time high and a peak D back in I think that was in August or so July of last year plummets down to the December low of 142 round number low We look for those round numbers and now we're up. Wow 70 points 76 points from that low at in leg B at 218 this is going to be very interesting because it is helping the Dow now a couple of things I wanted to do quickly. Let's just do this high-grade copper a high-grade copper right now is trading down They made that peak as C's actually ready an F slash C F slash C and that's saying that we've got to be a little careful here because Copper that ready. You know, this is a very interesting internationally copper hasn't done very much at all And that's saying internationally. Yes. There's a bit of a slowdown and if you look at wood, which is the international global timber and forestry ETF It's gone from 83 back in June of last year down to a low of 55 rallies up to about 60 now is trading at 58 points 56 and it's kind of stuck in the lower range Again, that's an international aspect that we've got to be aware of so yeah, let's go through this In terms of I wanted to look at we looked at let's see what T bonds are doing This is this is the actual T bond continuous contractor 154 in 20 30 seconds stuck in a range We saw that so what happens this afternoon is going to be really important everything. I'm looking at suggests Even if it's a short Continuing this to be consolidation going on for maybe a little bit longer slightly lower high slightly low lows That's really configuration that I'd be looking at with a fair today. I don't think they can do more than a quarter point I want to save their ammunition for later. I just think that it makes in the most sense And then they can say data dependent They can they can babble and do whatever they want, but they just kind of stuck here because of the competition for lower rates That's number one number two is if you're looking at Say the XLF the XLF had a very good end to the day yesterday But it isn't a pattern that says to me unless it at 2843 the S&P select financial spider fun And this it could start to trade in the 2888 29 30 area in the next week or so It's done very well. It maybe needs a little bit of a rest here. Nothing wrong with it It just is a little overboard. So that's what I'm looking at in terms of the the IYT Which is the transportation index look at this down 64 cents at 139 It's in this rectangle formation. It hasn't broken out It will break out at 193 36 if it's able to get into the 197 198 area and hold there for a whole week That'll be very positive and that'll start new leg B in the and the monthly in the weekly But the monthly really needs to get to the 198 199 area and it needs to do that because it has to break this downtrend line That's so important and it's been a resistance in this v-shaped pattern This is like a flank pattern coming to an apex. You can take a little bit more time And it's not really confirming the dowels high So as we're looking at it the doubt Let's just go through this because it's very important to keep keep going In live action to show you what I am looking at look with Apple the does only up 55 at 27,000 250 day just stuck in this rectangle formation It is just stuck there and the mother weekly chart is still looking very good Look at the S&P the S&P is up 1.92 2 2 dollars right now stuck in its own little sideways action look at the QQQ this is with Apple stuck It's actually up only 15 cents of 192 92 at a peak T I think that we're looking at the really good chance that After the Fed says what it has to say the market says You know what? Not too much has changed and and not only that yields are telling us that they are independent in their own way of Looking at the market and they're just suggesting that To appease The Fed is going to do this if they did it purely on the data and they really were data driven at this point They would say we're gonna hold off just a little longer I don't think they can say that today Why if they do expect this market to pull back quite sharply because it's going to get a little bit afraid of what's going on Now let's do something else. I wanted to show you the SMH is the SMH is the semiconductor index again red Down a dollar 12. It's had a spectacular move going going from round number It goes from the 80.71 level in December to the most recent high I think I forgot to put that in did I not type they didn't know I didn't that is a new high of 123 50 other years 123 56 on the 24th of July. It's just gone. Look another way markets do this You know when you're a technical analyst, you look at you look at the patterns You say how on earth does it how does this know that it can make a slightly lower high every single day? And if you can draw a straight line I mean, how does it get to do that? You can understand horizontal lines because you go to 200 pull back you go back to 200 you pull back go back to this your horizontal 200 is a resistance level you come down You hit 190 190 you go up 190 go up 190 190 Well, you keep Trending at that 190 level as support. You know that that support, but how do you say that the high of? All-time high 120 256 on the 24th gets to 120 270 the next day 120 210 the next day 121 43 look at the straight line down How did it know that at some point is gonna pop to the upside or spike to the downside? I think this leg D potential P D in the weekly chart of the SMP of the semiconductor index is suggesting to me That we could go sideways for a little bit little bit sideways to a little bit down And this is so interesting because everyone I've spoken to now in the semiconductor Industry says while the booking the bills the actual billing and the booking We don't see that kind of rise in Coming in Maybe a couple of companies, but mostly they're not applied materials, etc. They're not coming in and yet The semiconductor goes to an all-time high. Is it telling us something? Is it saying that later in the years gonna there's gonna be a spectacular move in the semiconductors? I don't know, but I can't tell you is that This is one of those cases where the fundamentals were totally wrong and the price went from a low in December of 80 to a hundred twenty three That's that's a fifty over fifty percent gain. That is incredible So I think that it's due for a bit of a rest here the semiconductors You'll see what happens Baselchap and Tiger conditions are we gonna be look at Halliburton for one of our tigers in a moment I just wanted to show you that LC, which is live cattle made a peak F. Actually, it's a peak G top Recently and it's pulling back a little bit. I'll show you some of the others I'll show you return the others as soon as we get back Baselchap been selling a full area because of enter get right back That was up 72 SMB's of one and a half If you're in the CD market and looking for a secure investment the Tiger first mortgage program may work for you The security for these first mortgages are building lots in the tax opportunities zone in St. Petersburg, Florida The tax act of 2018 set up tax-free zones across the country where you can build and hold for ten years and pay no tax on the Prophets 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 calm The best rate for a four-year CD in the country as of February 20th is 3.1% of $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 you give me 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 would like more information about the Tiger first mortgage program You can call me at 877-518-9190. That's 877-518-9190 Tom O'Brien published the 900th issue of his weekly newsletter the gold report on July 22nd It's amazing. He started the gold report more than 17 years ago when gold was trading at only $252 to celebrate. We're having a special tiger dollar sale right now You can spend only four hundred and ninety five dollars and we'll give you two hundred extra tiger dollars So you'll end up with six hundred and ninety five tiger dollars Which is the yearly price of the gold report tiger dollars can be used for any TFNN newsletter or service and this offer is open to new and Current subscribers with gold making six-year highs and gold mining equities trading higher This is a great time to sign up for the gold report at a dramatic savings for all the details Visit the front page of TFNN comm this deal ends July 31st So don't miss out get your tiger dollars and sign up today for the gold report 900th issue sale Will the S&P 500 continue to climb for bold trades on us large cap stocks in either direction trade SPXL SPUU or SPXS Directions daily S&P 500 bull and bear leveraged ETFs Direction leveraged ETFs an investor should carefully consider a funds investment objective risks charges and expenses before investing a funds Prospectus and summary prospectus contain this and other information about direction shares to obtain a funds prospectus and summary prospectus call 866-476-7523 or visit Direction investments comm a funds prospectus and 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 The bull bear binary option hour next on TFNN So real quick. Let's look at the wheat we did a spectacular run It made that male male around the brother for 18 were running the continuous contract runs up to the 558 level now It's down at 490. So it's consolidating those huge gains soybeans had a Type it in over here wrong place soybeans. So We just down six and a quarter at 491 right now So it means also down when our last look kept down four at 892 Also had oh this made a low low to a trough D to a leg D to the downside and a fabulous run from about the 816 To the 944 level now trading at 892. So that's just It's it's really taking a big breather after that move to the upside We'll see what happens with the dollar today except that I'll go through the dollar in a moment corn Always why am I hitting that? Okay corn right now is trading in my last looked it was down And it's still down four and a quarter at 407 Then had a wonderful move from the 351 level all the way to the 200 period moving ever see that orange line You don't need these lines until you need them hits it exactly Right there at the 465 level now trading at 407 So had a big move and now consolidating today's and be very important because look if the dollar As I say, we've been long since 90.07 back in april of 2018 Anticipating a leg D. It hasn't done that the uu p and let me just show you exactly what we're looking at Uu p in the monthly chart has made that leg D So let me just move this over the on the right side is the monthly I'm just moving it over on the left side of the daily now We're looking at is this beautiful cup formation. There was a small cup now There's a bigger cup has gone to that leg D in the uu p to a recovery high a multi-year recovery high But it's the dollar which is the the route. I'm not interested in the I'm not interested in the Trading vehicle. I want to see the route itself get to that leg D So if by the end of the day the dollar gets smacked because a yield is starting to you know It impacts because the Fed has made a move and wanted Has lowered by a quarter of a point and the and the bonds respond if the dollar actually starts to trade in the 98 88 level It's at 98.03 right now and holds there Pa is going to be the next the next level on the upside but Quickly going from a peak C to a leg D says be careful because there's only if there's only a modest high You could take time by pulling back after that. So this is going to be really important for me What happens with the dollar and it's going to be important for the international Companies so this is important. You your PSSA has already done the job That's what we're along the european which is great But we want to see how it impacts All around so I went through everything that I'd be looking at at three that's called a 315 Well after the Fed announces a two there's an eastern time So it gives you 45 minutes into the close if the dollar's up 120 or more the s&p is up 10 or more This is all going to be really put it's going to squeeze and you can go all the way into maybe thursday or friday but if in fact it's just If there's an absolute standstill and the market just stays dead doesn't know where to go up or down That means we've gone into a sideways the sideways consolidation that's been unfolding Is going to continue with a good chance that we will break to the downside At some point doesn't have to be hard, but it will break the support to the downside However, if there's an immediate plunder that that minus 30 130 in the down Regardless of what apple's doing. It's that I have to really struggle to to to to break with apple being so strong Apple it's 11 right now. That's going to be important. Okay. So done with that. Hell was a question I had Not h e l l but h a l which is hella burton trading at 2316 It's it's down four. So the question was what's it doing? What if you use larry's um Gartney's you've got almost got some kind of a gartney patent here I prefer to think of it as a large arch formation with a small arch formation They went to a higher high and the higher low and it tells you that it's kind of stuck in a range Now the question I think I've had a couple of people ask me is there a chance of the oil service like hella burton Could it start a move After such a massive decline from the way in the 50s 56 57 Down to the most recent low in the 21 area. Could this be the start of a more intermediate term? Slow move to the upside and I think this is the chance that it has why? Because the technicals are starting to improve with a slightly good improvement in the in the price itself I don't like to see technicals moving up without the price. It's doing that. That's good. So hella burton I'm just going to say if you're long I'd stay long. I'd give it a bit of room here 2250 should be support Maybe even 2230 for greats that I'd be a little careful. I wouldn't get out. I just say all right now What's this real closely? I just don't want to see a close in the 21 50s again So yep holding it here is okay But I really want to see by monday or next week within three days two and a half days I want to see it trading in the 23 58 to 23 62 area and that'll say great now It's going for the 23 94 40 period exponential moving average in the weekly chart that it hasn't been even close to Although I tried last week, but it hasn't closed above it for months and that's going to be very important So yes, I do like it. I wouldn't get too aggressive. I think if it starts to work, you'd I'd be able to add to it Okay, so that's the way I'm looking at it Just real quickly and as e-mini went to peak c in the five-minute charts plummet and making an arch formation Sorry making an arch formation that's breaking to the low side I really think that going into the into the report at two o'clock You could see the the market just in a fairly narrow trading ban Just waiting waiting waiting. It's what happens immediately Then what happens after that initial move one way does sustain the direction It usually reverses course and then goes back again I'm just making it as simple for my subscribers as possible. We actually Have a very interesting. We haven't done this in a long time. We did a little bit of it before So we we went short to let me just do this so that you can understand the thinking behind it Just not that we arbitrarily doing things back in april at April the 22nd, I believe it was the all time the recovery high in the dow to 26,695 on the 23rd Was your peak d leg d than a peak d the day before that we had gone short And we went short into profits on the way down the very day of the low of june the third we got a trough f With all the technicals indicating that there was a really good sign Of a turnaround so we went long And the very next day we got out of any leftover short position And we've been long on the way we took a little bit of profit on the way up Now what we're looking at is we also went short seven points at a peak d from the high On the 16th of july 27 391 the all time high was 27 39 87 points higher And we added to that position this morning we that that position was just we took a tiny little bit of profit on that And we've now got less of a position, but the biases towards the downside just on the shorter term This is very tough. I because I don't see us going back to the june 3rd And to try to pick a low says that you might miss once or twice and that's giving away percentages I said this rather keep a core position Even if it's just a one-third position of the 200 percent long that we had Let's just keep that and and try to articulate where the levels are here that are very important And if they don't hold we we will just trade the short side Some of our long side will be ameliorated because it's going down But the bias the weighting is more to the short side. So overall we're making that a little good But I am anticipating in 2019 that we're going even higher and that's the most important thing That's the reason why I'm trying to keep the core long position for intermediate term Which we've had since june 3rd at the same time starting short positions just on the Dow We haven't got any other short positions So there are a lot of stocks to get I'll talk about them in a moment and more in my show The Tiger technicians are coming up at noon. I'll be right back bazaar chapter sitting for Larry Perzevento You're right back. Dow is up 70 S&P's over one 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 Six and three 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 tfn.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 tfn.com What are you waiting for all of the tfn newsletters are informative up to date affordable And a must-have for every trader looking to gain a competitive informational edge in today's markets Tfn newsletters cover every aspect of the markets to offer you the very latest in market news Plus new subscribers get to test drive our newsletters risk-free for 30 days From all aspects of the markets including stocks bonds metals commodities and tech There's a newsletter to fit your needs exclusively from tfn Stay informed each day you trade and get the competitive edge that will help you stay ahead of the game Visit our newsletters page by going to tfn.com and click the newsletters button near the top of the page tfn.com educating investors Since 1984 Basil Chapman has been using the Chapman wave methodology to advise traders of his expert market opinion While originally hand drawing charts from the late 1970s into the 1980s Basil noticed that prices under most circumstances virtually always had a certain number of legs to the upside before declining sharply Later basil found that computer software, which included the standard market technical indicators enhanced 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 Basil 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 Basil's daily trading newsletter by visiting the front page of tfn.com Cancel at any time during that trial and pay absolutely nothing Get your two week free trial to Basil'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 So if you look at the IYR the iShares of the Dunjones US REITS index, this is the commercial real estate You you're looking at something very interesting because it has made a peak D in the weekly chart got repelled at that Chapman wave inside track uh repellent zone reversal resistance area Excuse me, but the week monthly chart has gone to a leg B all-time highs. This is really important What happens this afternoon with rates if the rates jump sharply? Maybe the IYR um Tells us the story because if it actually rallies as well It means that people are looking at capital gains plus dividends that are increasing Or if it suddenly Drops and you see it down a point It says uh, oh it's had its big move announced consolidating beautiful cup formation in this cup formation like that You remember we're talking about that, but you can also make the case that it had a successful arch formation And um, I can even see garthly right here. I don't want to draw it But yep, I see a garthly and that targets the 91 area at some points This is going to be very interesting. It's training in 90.05 So what what am I looking at? I told you before this is going to be very important if there was no fed at all today Any fed speak I would say you know what this is going to continue a little bit longer And as you usurp the energy to the upside with so many stocks like a visa Uh, look at those visas down after peak d in the daily Peak a leg d in the weekly in that chaplain wave inside repellent zone Very strong move in the monthly so visa could be important the whole area of these Credit cards because peak d in master card in the daily So if they they start to drop after the fed announcement that's just telling us There's going to be a little bit of a change in some of the financials If you look at the xlf and the xlf instead of dropping suddenly rallies Into the 2860s there's a 2840 right now. That's good action if it drops into the 2820s says I'll be careful So there are definitely things to look at if there was no fed I would say that we very close to some kind of we've started consolidation and we should continue that consolidation So how does the fed impact or affect that apples up sharply and yet the dow is now only up 57 The sms only up 121 I think i'm picking at more weakness than strength at this particular point not big bear I'm just saying consolidation is important for the next step to the upside have a wonderful day Why don't you listen to my show? It knew the tiger technicians are if you're interested in my notations and discussing this radius charts in terms of the peaks and troughs Thank you for being here. Stay tuned. Tommy Tommy coming right up here for the move there finally options out