 The following is a presentation of TFNN, the Tiger Technician Hour with your host, Basil Chapman. Call now, toll-free at 1-877-927-6648. Good morning everyone, Basil Chapman here with the Dow at 8.06 a.m. Eastern time on Friday the 18th. Down 80 at 34,393. That sounds like a lot, but actually considering the three huge downside cans, and remember the chapter we were talking about this in my webinar coming up on Wednesday for subscribers, just go to the front page and check it out. In fact, you can become a subscriber, listen to all the webinars, listen to the webinar that's coming up, 90 minute webinars, it's actually really a workshop. That's what I try to do just as I do every weekend for the hour-long market overview that I always give a video. I really try to make it educational because you can do your own homework. A number of people have said to me they did their own homework, that's why they were still in the short position they've had and told brothers which I had a really tight stop and we got stopped out and yesterday just got smashed to the downsides trading at 76.43 right now. We were in at about 79 and then at about 80, so yeah, it happens. Tight stop, but that's the way it is. I like to have the tight stops. I prefer to say, oh, could have with a sugar rather than saying, oh, why did I not? Yeah, whatever. So anyway, what we're looking at here is, so the Roman candle I had said yesterday, for yesterday's action that if at any point we can get to, I didn't think we could, but if we did get to 35,000 and hold that for about 60 minutes, we could retest the high of Wednesday, but you had all that nine-period and 14-period moving out which would have just turned negative. And that just said, uh-oh, we're gone from a cell signal. I call it upgrade, but it's actually a downgrade from a cell signal to a cell mode. And that's just a designation. Doesn't say, oh, cell mode, you're going all the way down to 32,746, the 200-period moving average. It just says that at this particular point, you've fallen enough to get that designation. You're on your way from New York to Hartford on the way to Boston. You've reached Hartford. That's all it says. Are you going to go to Boston? You might change. You might anything happen. Okay, so with that said, let's just look at the technical indicators. We'll do this because it's Friday. It's not too much release for us. We're in our positions. We're just going to have to let this play out. What we're looking at is that peak F top in the chat wave methodology, we're always alphabetizing the uppercase letters on the way up. A, B, C, D, E, F, G, Ds where other things can happen. This actually went to F, the sixth highest peak at 35,679 on the 1st of August. And at that point, there were many indicators on a shorter term basis that were saying to me, wow. I know you've been talking about this 949, I guess I'll have to go there. I'm hoping it ends right now that we don't have to look at this until I start to get by signals. And we were looking at this all the way from around about here, around about the end of July, I was saying, this 9-period moving average over the 14-period moving average, if it doesn't immediately turn down very sharply with the price even sharper, you can have an elongated rollover that makes an arch formation and it could be very frustrating if you're not able to pick the exact high, the exact ictus of that turnaround where gravity says you're not going up, you're not going down, you're about to change trend and you've stopped dead for one second. And we were very fortunate using other indicators to get the exact high on August the 1st. But look what happened. It took until August the 16th for that 9-period moving average to turn pink. And there was even that huge up for 500-point session after we had gone short and fortunately, and this is one of the things I like to say, there are so many, you hear it on the news all the time, the financial news all the time, oh, you can't pick the top, you can't pick the bottom, we want to get the middle. I say middle is fantastic if you can get it, but if you're able to get the lows and the highs, it gives you some breathing room. And let me just show you something here because I've got a webinar coming up. If I don't talk about it, I mean, nobody, I mean, I have to be unfortunate. I don't want to, I've got this thing about, you know, when you take your hands off the wheel to pat yourself on the back, that's when you hit the tree. However, I have to talk about it. We got to the low, the exact day of the low, 18,213 March of 2020. We got the high, I didn't actually, we got different positions in the high, but that particular high at 36,952, we had positions that we got stopped out with tight stops and that was a lot more difficult. Eventually, we did get a good chunk of it on the downside. We got the exact low in October, the day of the low. And we still have those positions. We still have the position from the diamonds and we have the position from the diamonds and the three times long from the October low. So I'm afraid I just have to talk about it because I don't like to, but I have no choice because how else would you even know what pertains to my webinar coming up, what techniques that I've used. So in this particular instance, what we've got is in the Dow, and then we use the short and the long, three times long, three times short positions to trade all the time that we've done on the way up. And now we've holding the long position from October. We've got the short position from August the 1st. It just gives us a cushion. That's the point I wanted to make is if you're able to use some kind of technique that gives you the ability to at least attempt to get the exact turn on those big flurries to the upside or if you're short, the big flurries to the downside they could take. So if you're long and take you out, if you get those levels, the flurries usually occur above your entry point or in this case on the short side, the entry point short. And that just gives you a cushion. Within that, we're starting to trade. We've taken a little bit off that position and now I want to move on. So now I have to talk about the weekly charts. And it's Friday, so anything can happen. Already the action so far is a little bit too bullish, too early. So that's saying to me, I was saying to subscribers, if it's really ugly at the close today, we'll see what happens if after 3 o'clock the Dow is down more than 180 points. This is going to be very ugly. So that's what I'm saying. If it holds and even turns positive in today because it's options expiration, that kind of uses up what I thought would be Monday, where Monday could be a reversal day of some substance. So there could be maybe a 25 or even a 30% rally in the market just to fool everyone as I mean, look at the volatility index. So you can hear that I'm talking about this today. I'm trying to give a perspective of what I'm looking at, why I'm looking at look the volatility index today alone up 3.5% of 62 cents in 1851 hitting the 200 period moving average I've been talking about all week, yet we're not triple digit down in the Dow. SMB is only down 21. I think the fear factor has just gone a little bit too, not a little bit, quite a bit too excessive in the very short term. And that's why I'm thinking that I don't know what the news could do. But I'm suspecting that if we close really ugly today, Monday could be a really nice trading turnaround within the context of at least for the daily charts, a bear phase, a really chart of not bear phase at all. They're still in a buy mode, they haven't really turned down. So with that said, we're going to break Dow's down 19. We're going to look at the semi-contractors and home moves when I return. If you're looking for potential trading setups in the stock market, then Rocket Equities & Options Report is a newsletter you should try. Tommy O'Brien delivers options and equity trades when the markets present them using a combination of fundamentals and technicals. Sign up for Rocket Equities & Options Report today with a 30-day money-back guarantee so you have nothing to risk. For all the details and to start your subscription today, visit the front page of TFNN.com. TFNN Educating Investors. You might think that if you want to be successful at trading in the stock market, you're going to need a crystal ball. After all, it's impossible to predict the future, right? Like any endeavor in life, before you decide it's impossible, get some advice from the experts. You might find that it's not so impossible after all. For daily market overviews that give you direction on the key indices, selective stocks, and commodities, subscribe to the Opening Call newsletter at TFNN.com. The Opening Call newsletter is written by Basil Chapman, creator of the trading methodology known as the Chapman Wave. The Chapman Wave up-down sequence gives you an edge in identifying price turns, finding the peaks and valleys in stock prices. Get the Opening Call newsletter by Basil Chapman in your inbox every day. 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. TFNN.com Educating Investors. 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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 tygruses 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. Hi folks, we're back. Yes, and thank you for that reminder. I didn't mention it, I kind of forgot about it because it was so long ago. The very day of the March 6th low of 2009, we got the diamonds. We held that for about 18 months at the exact day. So let me just do this. I wanted to go through this because I needed to follow up. I did some work. Actually, what happened is I had to shut down because for some reason you get that white screen and there's nothing you can do. It's just kind of like a filter that goes over it. You can click everywhere. Everything else comes up with this particular chart you want. Doesn't come up. Next thing I know, all that work I did with John yesterday, we were looking at the Comp Index. That's the larger 2000 something plus composite index for the NASDAQ. That's not the NDAQ 100, which is the top 100. This is the broader composite. And I lost it. I had to do it all over the last time. But at the same time, what I did is just as I had done for myself and then for him way back, months and months ago with the QQQ and I was expecting in this cup formation right here. Let me just show you something. I'll do this right now. Yeah. So the QQ, this is the weekly chart, QQQ. Remember I typed this in and then I said, this is what I'm looking at. And there it is. And we were kind of over here. We were just puzzling around over here at the 300 level. And I said, if I'm right about this cup formation, I will touch on it. I can't do everything in 90 minutes on Wednesday. Some of it I do all the time so it will be repetitive. But if I show you how these cup formations, if you identify the exact low to give you a plumb line with a mirror image from the left to the right, the number of bars on the left from a high to the low can equal the number of bars to the right from that low point. Or if you can't, if it just doesn't look like it's going to do it, you have to find some other candles or instruments that you're using to be able to identify a moving, kind of a sliding plumb line. That's the vertical line that becomes your mirror image. So I had said, my target is 334.42. And my outlook was that somewhere, if I've still got, can I still see it because I've got so many charts, my outlook was that by the, there it is. Okay. By mid-May, we should try for 334. So that was about a 10% gain. Well, it did that, but it went right through it. So my next level was using the same, using the low of October the 14th, 2023, the week of the 14th at 254.36. I had the next level, which was right here, which was 371.83. Well, walking line period moving average, it went to a week, it was, I think it was a week. Let me just click this so that I can see exactly. Oh, there it is. Oh, is that the exact, is that, is the exact week right there? On the 14th of July of this year, it went to 382.86. And then it went one bar higher, one week higher to 387.98. So I thought I'd do some work. And so I'm now going to have to move the weekly chart to the right and says space on the right. And let me just make it instead of eight or six, make it something like 20. All right, here we go. So all of a sudden the QQQ, what I have using now, one of the things I tend to do is if the plum line looks like it's impossible because look the plum line, if I made from the 4871 high or the 23rd of November, week of the 23rd of November 22, I come out to about where we are, where we were at that TD, missing the high. Remember I said 387, what it was, 3408, it's 30 points below. So that means I cannot use that as a plum line. So then what I do is I choose an arch or a trough or a particular candle. And what I did is I moved it right to this particular point for the week of the 18th of November. And that takes me out using the Chapman wave inside wedge, target resist dash green, target resistance line. It takes me to about the week of the 10th of November. Now let's see if it corresponds with the bigger picture which is the comp index using the weekly chart. Thought I'd finish this. Oh that's what I lost. Doesn't matter. I can still do it. So I want to extend this particular line right here and I need to do it so that it bumps into highs because otherwise what's the point of it? And then what it does is it takes out the left side, right side, price, time match and it goes to this level here. Where is that level? Around about October the 27th. That's only one aspect. Then what I need to do is I go click green. You don't have to have all these things. You can just do a line. I like to have the colors because I used to always use the black background charts. I love the colors there. They're so easy to see and you can modify them. This is so hard with a white background. However, now what I do is I grab the high of the comp index right over there. I go to that level and I say, ah, my eyes, there's no way that in the next week or two we're going to go all the way to the 16,000s. So I say, okay, I'm going to do the same thing as I did with the QQQ. This is my level. This is my buffer. I can go up against it and if I do this, I can say right here, find a candle or something that you use on a regular basis. You can't make up something. It has to be one of the technical tools that you use. And then I go like this and I say, can it take you to that exact point? And it says there it is. So that's not exactly. I want to go a little bit further. So which candle do I use? I'm going to use this peak D candle right here. And it takes me probably just a little longer. There it is. Okay, this is good. So this takes me, I think, to November. So you've got a little bit of just a miss in this. This takes you to about the mid-November. The other one was late October. So that just says to me, I have no idea whether this is going to work. But I'm saying you need a digestive phase for this particular cup and handle. Of course, it's not a cup and handle. You can only take it from the highs. I use a different technique. And it just says, as soon as we start to close on a weekly basis above the 21st of July is high of 14,446, I can start saying, yes, my magnet line. And it should start to climb. And then what I do is I draw in another cup formation. I might have to take this away. I don't have too many messy charts right here. And I say, that's what I'd be looking at. I can't even think of the upside until I know what the downside is. So let's go to the daily chart in the comp index. The reason why I'm doing this, because the semiconductors are a big part of the comp index. And it's kind of doing two birds with one stone here. And you can see. So what I also want to show you is that the resistance, the reason why I drew in this narrow rectangle right here, I need to change the color, but I just put it in is that this high, this is way back in July of 2022. Well, we are back to that level. It means that everything that you're looking at, there's no change. Of course, there's a huge change if you were at both the bottom or you you're short or whatever it is, but we're back where we were. So that just says this whole area here is going to be the containment area. And it could become a kind of a head and shoulders, inverse head and shoulders. And lo and behold, 12,555 is going to be really important to hold. If you take that out, I might even have to extend the time that you can even get to even back to where we were. Five minutes. So all that helps is you know, and I could do the dating, but let's go and tell you. I'll be right. Currencies, commodities and bond markets are as important as ever right now with how they're driving the world in equity markets across the globe, which is why it's a great time to try out Teddy Keg Stats Tiger Forex report. Teddy Keg Stats breaks down the Forex markets every Monday using his 30 plus years of experience as a trading veteran of futures, Forex, stocks and options. 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If it makes a kind of a cup formation and then fails in that dreaded H pattern and that's exactly what it did. So this two things happen. This is the trough and it is a tidal doji candle which I love. So that was the plum line and today is actually one day early breaking that level of the low of we were talking about this yesterday 13,334. The next one has to be a moving plum line because now I like to always go against the, I call it manual, this is the face of the mountain. So even though this is the low, I like to go right up against the very obvious last low and I can go from that candle and that takes me to this particular doji candle gap right there and there's a left side, right side price time match and that takes, that's plum line that's the bar symmetry. It takes you to the 21st that's Monday to the 13,089 level of the 7th of June and today's low so far is 13,161, the gap down so the different sectors are doing things, different things right now so what I said there were a couple of questions about certain stocks in the semiconductor index or ETF so the SMHs are down, they're actually trying to come back a little bit, they're down to $29 to $144.29 for disclosure purposes. We are short from 159 the high, all time high was 161.17 excuse me on the 31st of July we also have three times long and we've taken little profits off now and then on the SOXS, we're doing about that yesterday, I'm a little cautious because this is only a leg seat to the downside in the SOX in the semiconductor on the way down and the SOXS trading right now 1157 and a number of people asked me, I mentioned this the other day where was my upside target and I said I'm going to only go one step at a time and my first target when we were talking about it in the 1020s was 1155 the high that was made back in June that peak A- 1155 well today's high is already 1184 I mean we we're long from over there way down on the let me just get this right so that I can get a move a certain concert with the charts that are actually active right now so yeah, so the SOXS we've been we've got a long position from 898 that's kind of our core of taking little bits off but 898 to 1184 I mean that is really a big it's a gain in a shorter period of time than we could have anticipated so I just money management says take little bits off we took a little bit off before that day right there when it hit 11 11 before the open and then we got back in the very next day early in the morning so it's a work in progress just like the nine-period moving average was a work in progress but now look this is the SOXS the nine the price is sharply above the green nine-period moving average the nine-period is sharply above the 14 the MACD is very strong stochastic flat at 88% on balance volume says hey you're getting a little bit overboard but the weekly chart now you can't use this because it gets smoothed out every day gets recalculated so the weekly chart doesn't mean anything it's just a leg A so this is what I want to look at look at NVIDIA gaps down it was looking great early this morning and yesterday but then it reversed down and this morning was up six or something now it's down 13 at 419 here we are with a weekly chart rolling over at a peak G if there's an instant restart right here which there was it could go a little higher but I still have to circle the instant restart which says you could go to a D but this is also the pattern says watch out if there's an arch formation and you take out a peaky left side loan in this case it would be $3.99 if it takes that out on a weekly basis I think I might have to issue for NVIDIA which is in a cell mode in the daily I might have to issue a cell signal on the daily I haven't got that yet everything is still fantastic look at advanced micro devices advanced micro devices made its top way back at peak F at 130 did I lose that no I did have to redo it so I'll just tell you right now at 132 was it you know a 132.83 I'll just put that in 132.83 132.83 and here it is trading at 104.37 that's a pretty big move to the downside there's your dreaded age should have a 1 to 1 and the target would be 98 and then we have to reassess so now I want you to talk about a couple of other things because Intel lost China something other it was looking quite good it did a double top right there at a peak D you got to be careful and a pullback done a 1 to 1 to the downside to the 200p moving average of 32.36 looking at Marvell one of the great semiconductor companies Marvell plungers from a peak C1 C2 high the old time high was in December of 2021 and 93 plungers down to the 30s has a good rally up to the 66 area now it's at 57 and this is the dreaded age pattern right here in the weekly but we have to wait for the close today to see if it actually closes what's going on there it'll be there yeah there it is we'll see if it closes below the left side low of the week of the 23rd of June 56.39 okay so those are the semiconductors so all I can say my expression has always been for years maybe decades where the semis go the market tends to go as well why because they are the crude oil of the 21st century that's the oil the oil that works the economy semiconductor chips it's as simple as that and I think there's a little bit of a glut right now that has to be worked off so here's another thing that I had a question about could you just look at crude oil do you think it can go higher I think the crude oil on a very short term basis is having a bit of a rest after a spectacular 66 in the continuous contract to the high in the 83 area maybe 84 and now it's at 70 no now it's at 79 59 look at this that's your left side right side price time matching this particular instance I chose a candle because I couldn't identify the exact low and we went from the high of the 12th of April this is the continuous contract so they get smoothed out but at that point it's 83 double top 83 22 to 83 13 chapter we have two bar reversal promise down to that major thrust to the downside in May makes an arch formation like the lowercase h goes through a lowercase m comes back holds the left side low and spirals where so I let me tell you what it is we go to 83 20 22 that was back in April and where did we go here at this top this is the 10th of August 84 40 within a one and a half points isn't it amazing but this has got the look of a cup and handle so I'm not ruling out energy as a source of money coming in I don't see a big break out yet to the upside but I just see it holding quite well look at the XLE it's the same pattern the peak in the chaff wave off to the instant restart but this is what I call an unprofessional flat base restart which says within the next three four five weeks don't be surprised if the XLE takes out the low of 28 64 I'll be back old 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 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 ready to take your trading to the next level introducing Tom O'Brien's award winning newsletter market insights your key to successful active trading Tom O'Brien renowned for his expertise in the financial markets has designed market insights to be your daily guide to profitable trades Tom publishes his daily market insights newsletter every market day before the market open along with updates when warranted stay ahead of the game with Tom's real-time analysis and trade recommendations delivered straight to your inbox whether you're a season trader or just starting out market insights provides the edge you need to navigate the markets with confidence to the next level and the next level you're ready to take 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be read carefully before investing an investment in the funds is subject to risk including the possible loss of principal 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 on the NYS the American and TSX under the symbol VGZ Hi folks I was just asked if I could post the SQQQ which is the three times short the QQQs and it's in a leg seat to the upside it's trying to tackle this ugly red bar right here there we go on the 12th of June the high was 21 266 now here it is right in the middle of that particular bar I would actually be looking at this candle right here the candle of the 9th as kind of important with the high of 2206 in the meantime yeah leg seat to the upside so what I was showing yeah thank you very much that was very nice to you thank you Basil yes my family is number one appreciate all your help that's what I like to do okay so within that context a question came up about oh I want you to show you this so why we were at break as we were going to break I took the one minute E-mini chart we were right over here right over here just about to make a leg B so what I did is I drew in the cup formation I drew in the plum line right there that's the midpoint the bar symmetry and I drew it so that with this chap we've now I'm going to make it green inside wedge target resistance line I'll be talking about that in my webinar there's going to be a lot going on at 90 minutes I can cover a lot I also want to do some things really thoroughly over and over so I'll be very selective but look at this it said that by based on this this bar right here right there it said that by 1045 this high right here that I chose of 43 70 could be hit now if that works and it's actually working right now because we're at 43 70 25 I can go to the high boss I'm getting one at a time and this time I'm going to go to a little bit further out and I'm going to go because there's only a leg C that should go to a D or at least double top I'm looking at this and I'm saying there we go click click and I've got these rectangles but you can use anything I'm just I like to show the colors because you can see it easier I can see it easier I've got the tools why not use it and it says oh that's still quite a way to go but it does say that by 1052 we should get to a leg D well it isn't a leg D right now so this is the kind of take this is the same technique that I was using for the short side for the long so whatever we're doing that's what I'm using one of the many techniques plethora of techniques but one at a time and it just says right yet that resistance where it's targeted resistance line look at that how many times it hit it exactly just I don't know how these things work I can understand horizontal or vertical but diagonal how does it get that exact angle to my eye that angle is about 18% and then bomb little dodgy canals at peak D we could start to have a deeper pullback with the 9p removing average is still good the magnet is good a little bit overboard and the stochastic is flat at 91% so that still shows some strength all right those are the techniques I like to use we had a little lesson right there now I want you to go back here look at this HGX with tears in my eyes I spoke about this in my overview on the weekend last weekend I said this is ready to go I had an email an email that said if I can actually find it that said probably I'm not going to find it oh there it is right there it says Basil you're sure we're right about your house builders being susceptible to rates of course I had to be short on the sector and I lost patience to hold it wow what a miss you know it's a miss but it's telling us something so maybe you won't get the same impact and now your risk to get in is going to be a little harder but this is telling me based on the alternate count that I have in the weekly chart the HDX index also based on the looking out I have to say it's a leg C in the monthly chart it's probably a peak C this month but it should still go to a D okay because it's got the chamois overlapping wave to leg D that's what I've written in there but if you look at the BLDR I spent a bunch of time on this in the show here last week I think weeks for weeks I've been talking about it builders first source building materials manufacturers components and a leg C in the monthly chart and a leg R S look what happened it made this high and the CEO I actually had him here quoted on the 15th how everything was just everything is construct in construction I'm sure I'll make that I'll make it bigger here we go bigger bigger bigger let's make it 14 so I can actually read it and he said the CEO with Kramer says in everything in construction better shape than last year huge speed no full year forecast general uncertainty massive earnings reports sales slowing recession was not here numbers with mortgage rates are high and they take so take a little bit off but long-term peak numbers and it was really a mostly very favorably inclined that he's the CEO I should hope so but he wasn't he was mentioning the negatives and I said well so I like to do this because we had tall brothers way back in 2007 I believe it was here in the den and Tom and I were all looking at where the home builders were going to tank and eventually when they did they gave big big nice numbers but while in the interim you just had to have really tight stops because it was buying that kept coming in so he has the dreaded H pattern and I thought I'd put that in which fails at a peak A or B and if it takes out the left side low it can go more than one to one to the downside that's exactly what it did and it plunged yesterday's training and what it hit the low today of 120 833 had a high 156.84 back in the beginning of August that says to me that absolutely there's going to be time and that if we're getting a roll over now of the different sectors it's going to put a cap on the upside for the general market until you get everything flowing back again so that just says in in areas like Lana told brothers yes Lana look at this big move 10324 was the high in July here it is at 115 16 points lower is that right 18 points lower and I'm really close to giving a cell signal on the on the weekly chart so I'm saying that you might have missed that exact turn but any really strong rally says to me even though that now we go again so you see Lana you see this nine period over the 14 in the weekly chart let's go to our chart right here let's go to told brothers and now this has put and Ali and since I'm talking about it that always reminds me of Len who used to be in the den believeable bought the real estate at the lows of way back and then in 2007 started to sell and then bought some of those houses back at the very low prices that you bought them before land in Cape Coral we wish one another season's greetings at the end of the year haven't spoken to you for a long time but look at this Lana weekly chart I love the week chart is still holding with the toll which are so fantastic because he acts I'll be right back down is down TfNN has just launched their new trading room the Tigers and 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 Tigers 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 Tigers 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 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you'll get a full refund within 30 days of signing up subscribe to the Fibonacci 24 7 newsletter today TfNN.com educating investors don't forget you can listen to TfNN live on your mobile device 24 hours per day go to TfNN.com then hit watch Tiger TV that's TfNN.com then hit watch Tiger TV so let me just do a quick summation so this went through a peak either one minute chart right there under the previous sign now it's pulling back in the one minute chart so let me just say if after three o'clock this afternoon the S&P is under 40 or I'd say 43 48 it's going to be a really ugly close and then Monday could be maybe a climactic low for the shorter term just just I'm saying but if in fact there's a rally later on because it's options expiration debt and there's a rally and the Dow after three tens often is actually up about 30 or 40 points is only down 44 right now that kind of dissipates some of that intense selling and just just lingers and goes on and so let me just quickly go through this as we're about to wrap up because you can go to Steve Rose great program rest of the day but let me just say that so in the outlook that I have at this particular point those weekly charts today's close is going to be able to say to me where are you on the weekly charts have you even got a sell signal yet is this going to be just a short term aberration in terms of the mood gets so negative so quickly you saw that in the VIX index that it just all dissipates and it's just a series of low lows and lower highs or we're going to make some kind of a turn coming up well I think you can't exclude the TLT the TLT is going towards the left side is the bonds 91 85 low of October it's already been to 90 90 302 level I mean so close so this is a very very important moment cruel as I said held well but it looks like it's it's it could pull back very important moment so those are the levels I'm I'm looking at and this is scope of the estimators as I wrap it up here check out my opening call check out my webinar coming up for subscribers on Wednesday afternoon and estimators must hold 142 in the next day or two have a great rest of the day I'll be back see you on Monday