 of Traders. Sign up today and become a part of this educational community of Traders. Just visit the front page of TFNN.com. The following is a presentation of TFNN. Trade what you see with Larry Pezzavento. All now toll-free at 1-877-927-6648 or internationally at 727-873-7618. Now Larry Pezzavento. Okay folks I posted the chart hourly chart of wheat over the last 10 days as you can see we made that 3 drive to a bottom which is basically a butterfly pattern on the bottom down there at 611 per bushel we rallied up just about a dollar a bushel up to 705 last night as you can see and then we gave back a good 25 cents of that since they basically said that the Russian deal is supposed to be copacetic and it's going to go through in other words you had really bullish news and yet the market sold off but remember it was very overbought today when we went up and completed the ABCD pattern. What's interesting you remember on Friday we were setting right at that 382 retracement and you can see the gap up and then boom down it went so very interesting as you watch some of these things unfold. We'll be doing a lot of that when I do the one-day trading segment that's going to be on August the 2nd and that'll be a lot of fun we're going to be looking about nine markets to trade during the day. The goal is to make your tuition which is 295 dollars we've done that in the others that we've had this will be the fifth one I believe over the last four years and I think we're going to have a lot of fun in fact we're having such great volatility it's something that I really look forward to and I enjoy doing that five hours it goes so fast it's like a blink of an eye. I mean we start at nine o'clock in the morning go straight through to a two usually we have about four trades during the day sometimes one or two more but they usually around four trades. Our goal is to try to make the money and then I have the PowerPoint presentations for you on how I got together with these things to make them fit together so that they're usable in a pattern and then other things that we have that you know are interesting too and I have all kinds of data to show you how these things work. Now we're going to take a trip across the old pond and we're going to go over here to the German DAX we'll get this up here so you'll be able to see that now this is completed a major pattern in here you'll be able to see it that basically you can see that's a one three five pattern each one is lower we're backing off just a little bit to do today just smile but still backing off a little bit now as long as we don't get above that high right up in here this is a valid pattern whether it's going to do a drive one drive two drive three to the downside no one knows that and that's what you have to do when you're doing pattern recognition is to find out that that's all you've got to do. Folks one of the reasons I've done this with TFNN over the past 17 years is that I've met some really smart people out there that give me information that I'm not aware of and over the weekend one of our listeners in Switzerland I've talked to him on the phone once but I've never met him and he had some information that he wanted to share with me on gold and it literally startled me and so I chatted with him over the weekend and said I'd like to share this you know and he said well why don't you share it on your day trading thing that you're going to do in August the second and I think I'm going to do it. What he showed me is basically why gold is buried and why it's going to go down now we're going to find out whether that's true or not but he had some really good ideas that I had never considered before and remember I've been doing a lot of gold trading gold is something I trade almost every day along with the S&P bonds those are my big three and gold and crude oil of course but that's that's what we're that's what we're watching here now those of you that listen to the radio show each week and like we did on Friday and also like I did in the newsletter over the weekend and send out the videos on it we made we had some major major resistance in the crude oil at 60 $77 a barrel folks if you take a look at the charts from the newsletter you'll see that it's done everything necessary today we had the 382 pullback it's already got a dollar profit in it from that level verifying that yes that may have been the high in crude oil for quite some time but like you say you know it's not about how much money you make it's about how much money you don't lose and you don't want to get involved with that I want to share you a little bit of personal information folks I've been a very lucky person my whole life not just you know playing cards ponies whatever it is I've just been a lucky person everything I mean I've been shot twice neither one of them you know ended up hurting me very bad you know I've just been really lucky my only my only two well divorce was one and then I was one person was a big disappointment to me but he couldn't do anything about that in fact remember I've always said here that my grandma used to tell me that the greatest the easiest way to make yourself unhappy is to try to please everyone and boy that just doesn't work so spend some time pleasing yourself and you'll be better off and also helping people is very very important but let's stop and think here what we're looking at when we're seeing these markets I've been very bearish as you can see from the newsletter and we're up and still in this new highs we might break through go higher today but we're not going to be higher by the end of the week folks if we're sharply higher by the end of the week it's time for me to take all my little toys get on my friendly burrow and get it moving out into the desert because this is this is a bunch of patterns that I have not seen this many patterns coming together I mean I'm really serious but since the bottom this is a top but since the bottom of 2009 on March the 5th we had so many of those you know coming together it was really a big deal but I posted the one for the S&P you can see that's lined up perfectly the cash S&P is actually is better I want to get that up here so you'll be able to see it here let's get it up I'll put it up here next here this is the cat or the other one this is the cash so let's put it up anyway we're same thing here with the S&P so if I can just find the little clicker there we go come over here click this click that and there we are so that's what we're that's what we're staring at here today now we were lower last night for most of the night and then as we came in closer to the opening buying came in mainly a part of the reason was Tesla Tesla's had a big move today to the upside about six dollars I believe and that takes it high above you know that old resistance at 281 maybe all maybe all going to do that Apple you know metastock or what meta and all the others though they could all do that without any doubt but that's what they're going to have to do keep this bull market running because it's going to be interesting to see how what happens on the 24th a week from today is when the NASDAQ is revising the waiting structure of the big seven and that means that they're going to make it a lot harder for the big seven to influence the NASDAQ they're going to cut it back the waiting on that they're still going to be the same price but the waiting for the NASDAQ is going to be different so they could be up strong and yet the NASDAQ because it's got a lot more stocks and those seven could be down not don't know the answer to that but we're going to find out when it's coming due a week from today very very important to pay attention to that and those are some of the things that I think are relatively important but one who never knows of course we've got some big patterns happening in a lot of different things I mentioned the gold market it would take a break here eight seven seven nine two seven six six four eight currencies commodities and bond markets are as important as ever right now with how they're driving the volatility 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 stat breaks down the forex markets every Monday using his 30 plus years of experience as a trading veteran of futures forex stocks and options Teddy releases his weekly tiger forex report every Monday morning with coverage of all the major currency pairs including the dollar index the euro dollar pound dollar dollar Swiss dollar yen as well as many more and he also has weekly coverage of the crude oil market and the 30 year t-bonds as they both influence forex markets tremendously when you sign up for the tiger forex report you also gain instant access to Teddy 60 minute webinar archive he just hosted forex strategies and fundamentals what is behind the tiger forex report for all the details and to start your 30 day tiger forex report subscription today visit the front page of tfnn.com tfnn educating investors Steve Rhodes started his trading career as a student almost 20 years ago and the student has now become the master Steve won the prestigious timer of the year award in 2018 and barely missed that mark again in 2019 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 30 days risk-free today tfnn educating investors 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 ready to join the ranks of successful traders head over to tfnn.com and subscribe to market insights today don't miss out on this opportunity to supercharge your trading results market insights comes with a 30 day money back guarantee for all new subscribers so you have nothing to risk don't miss out on this opportunity to revolutionize your trading game head over to tfnn.com right now to join thousands of traders who have already experienced the power of Tom O'Brien's award-winning newsletter market insights firsthand tfnn educating investors all now toll-free at 1-877-927-6648 internationally at 727-873-7618 okay folks i'm going to go through the magnificent seven here just to show where we are you can see the chart here on um tesla we're far away from the old highs but we're still at a very very strong level as you can see here as you're watching this um that we gapped above this number here today we hit 287 i think we're trading at 286 in change or so that could be breakaway gap that's the one that looks uh the most bullish on a shorter term basis but so many of these are not that bullish now here's one that is this is invidia and what i've done here is to draw in some of these patterns to show you the long term you know swings uh based on Fibonacci numbers like 1.618 and stuff like that but as you can see here with invidia where are you invidia hold on here second and that didn't come up uh did the chart not come up let's try it again boy they're trying to play with my psychic again but you'll notice here there's where we are i believe uh i believe there's invidia on the shorter time frame you can see it's making this level up in here i don't know if it's taken that high out yet i don't check the stock but that's what it's looking at right here this was the earnings that came out this absolutely super knock the socks off dude artificial intelligence earnings and then of course we've completed this uh three drive to a top pattern and a butterfly coming in here at the 1.618 expansion of that number all righty now let's move on to a couple others because if you see what they're doing i'll give you an idea i want you to see a really harmonic stock folks harmonic i mean swings that are equal and that run together easily this is the long-term weekly here in microsoft you'll be able to see the beautiful three drive to a bottom down here folks that's textbook i mean when you see a three drive pattern it should make your little heart go flutter flutter flutter like mine does but anyway you have the three drive to a bottom pattern and then you have the expansion up the first one is 300 percent of that one the second one is 1.618 of that one and the other one is 1.27 of that one making a new high by half a dollar so far it's still up on the date but very slightly it's what i heard earlier so that's another one that we're paying pretty close attention to as far as looking at it for a breakout above that level i do not trade stocks i just watch them as a forerunner to what could be going on now the next one we're going to take a look at here is alphabet or google take your choice and what you want to call it i'm going to stick with google because that's what that started with i don't think they should be changing their name but they don't listen to what i have to say which is okay again have a beautiful three drive to a pattern right here to a bottom level then you have the one three fives at the upside and the big move up here we're having a big retracement here up to the 78 percent level if we get above here could be you know box up the patterns folks because they're not going to be working for a while if we get sharply above the old here up around that i think it's close to the 290 level is something like that one of those no excuse me that that price would have been 135 in that now let's take a look here at broadcom here's one that should be completing this beautiful three drive butterfly pattern today making new highs and bringing in the last of the of the sheep is what i think but who knows so you can see it here where happened to don't tell me that it disappeared okay folks give me give me just a small chance here to shucks this is not good give me a second okay here it is let's see if we can get it up here correctly there's where we want to be but a technical part of this job is what drives me absolutely bonkers anyway you can see this is the pattern you know this is when the earnings came out again big run up pulled back and now it's making this pattern right here which is a butterfly pattern on this time frame here which is over the last two and a half weeks so as we make new highs up in here that's completing this smaller pattern so that's all it is it's a completed pattern sometimes they work sometimes they don't but that's what it's all about nothing works all the time pattern recognition works because it tells you when it's wrong and you can get out of dodge you don't have to worry about it that's the whole key to it it's not how much money you make it's how much money you don't lose now let's take a look here at mr appell who's down by the well this stock has not made new highs as yet you've seen it's followed this parallel channel here for the past four months just absolutely perfectly all of these little buying opportunities along the way we're three eight two retracements and someone asked why don't i trade him i don't trade stocks if i trade one stock a year it's usually one stock a year and it's usually wrong so i i put a buy a put or a call and i you know pay a couple hundred dollars or something for it but nope i don't i'm a i'm a short term pattern recognition trader folks and this is what my niche is and i know how to do it now am i right all the time absolutely not but i'm right more than i'm wrong that's what that floor traders handbook has proven to me but i knew that you know 40 years before the floor traders handbook all it did was go through the statistics that show yeah by gosh it does work and all you have to do is start looking at charts and you're going to find two out of three of them that work and show me a golfer that can hit 66 percent of their of their games and also baseball player that would bat 66 so that doesn't happen very often okay i hope you pay attention to that now we got two more to go here actually one more to go and that is mr amazon it'll just take a second to get it up here's another one that gapped up i don't know if it gapped up again today or not but it's leaving an island up there all it takes now is a tiniest little bit of selling and this thing will trap everybody this bought it over the last three days because that is an island up there and when you see these islands like there's one right back here and there was another one here so this is not an island but now there was another one somewhere it must have been farther back but excuse me anyway those are the ones that we're paying attention to now we have stan harley coming up as our guest and if you remember a few weeks ago he was looking for a key date coming in on july the 15th which was a saturday and now he's going to be talking to us hopefully about what he sees in the cards he's been very accurate with his prediction so far so we certainly want to do that that'll be really interesting and then tomorrow our guest is the wolf man himself shane smolian and i will not be here on wednesday but i'll be here thursday and friday and on friday uh my oh that's uh oh my goodness next friday oh my goodness nobody on that date the 21st i have to figure out what's going on okay let's move on here we got one i got a little bit of time left hold on i thought i did but what happened to my to my clock okay just a second and we got one minute to go i want to mention folks of all the stuff that i sent out over the weekend all of those charts that i sent out were bearish now i was looking at it for friday for a potential high has not happened as of yet same thing with the uh you know with the rest of every single one of them these are these are charts that i've seen for months and months and months are completing and the only thing it's going to fail it is to a huge move up you know something like uh the treasury has just found another 12 billion dollars in gold or something like that it'd be a trillion dollars maybe that would do it eight seven seven nine two seven six six four eight 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 obrien 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 obrien's gold report newsletter now at tfnn.com everything in the universe is governed by the fibonacci sequence this mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market to stay on top of stock patterns you can take advantage of sign up for the fibonacci 24 7 newsletter at tfnn.com when you subscribe you'll get a weekly report from veteran day trader Larry on stocks you need to pay attention to and you can trust Larry's analysis after all he's got 45 years experience as a day trader Larry will also provide daily charts videos and data on the key markets that he's tracking expect notifications from Larry on market movement you need to act on at any time first time subscribers also get a 30 day money back guarantee if you're not satisfied let us know and you'll get a full refund within 30 days of signing up subscribe to the Fibonacci 24 7 newsletter today tfnn.com educating investors 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 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 give it back folks and i believe we have Stan Harley the Harley stock market letter on the line stan how are you doing broad sore to dandy boy broad sore to dandy boy come in mr harley the chicken is in the pot the eagle has landed uh huh well i don't understand why we don't have stan in the house stan are you there well uh wait bear with us here one second folks we'll try to get this technical difficulty fixed up here so we'll have stan to be chatting with us in just a moment he's put up his chart showing the s and p 500 showing right translation which is bullish and it looks like he's looking for a low coming in here sometime in early august that's about uh just a couple weeks from where we are right now i think you're there stan are you in the house not yet well i guess the best way to do this i'll wait till i hear from my technician there at tfnn the prestigious and unequivocally one of the most brilliant minds in the western how are you able to hear me i think we've got mr harley in the house we're ready to go by 10 so sorry oh no it's fine they think i don't have technical difficulties it's like a everyday occurrence for me i just switched over to windows 11 stan and i swear i mean i can't believe what they do to you i mean all the stuff that used to be real easy now you've got to jump through hoops to get to it so wasn't happy to see that over the weekend but let's talk about the markets they keep going straight up what's your prognosis here my friend well maybe we've lost him again i hope not but uh who knows now what should i do my friend okay we're going to wait just a second to see if we can get al hooked up here you able to hear me now larry you're coming in good again once again we broadsword to dandy boy broadsword to dandy boy come in my friend we're ready to go now you've gone again al or stan trying to communicate with two people at once well i don't know what to do but uh al i could use a little help buddy just tell me what i should do because i certainly like to hear what stan has to say and then we'll get this thing working hopefully okay what appears to be there's having a little bit of a mic problem but let me get out fill up this time frame in here because i get lots of emails not lots but several about you know why i'm so bullish and i posted all those charts in the newsletter over the weekend and made several videos for it the reason why is that we're setting right at major abcd completions those are the things that i live and die for folks and i've been living better than i've been dying lately so those things work pretty good and we're we're at the proverbial moment of truth does that mean it's going to turn on the day that i think it's going to turn probably not but all i know is that this week if it's up really strong and closes really strong this week without any sell-off at all uh then i'm going to say well there's something wrong with this pattern and this has got to move on because you can't stand in front of it if we see a print of s and p e many above 4570 that would certainly tell me that this thing is probably not working and it's going to go a great deal higher but other than that all of these patterns that i've looked at i looked at naztac the russell the s and p the dow jones all of them are making pattern completions either at a perfect fibonacci number or a perfect abcd but most times both and that's what makes it so interesting you don't see these happen all the time like this and if we look at the dow jones transportations what it's done you know making 38 week highs and it's now performing worse than the rest of the market that's the kind of thing that you like to see and if you look at the hang sand you look at the chinese market and they're telling you about how wonderful things are over in china just look at that chinese stock market chart folks you're going to see something that is not bullish under any stretch of the imagination so that's why we're really paying close attention to some of these the same is true of the gold market you know we bought the gold down there at 1908 we had a nice rally of about 60 handles to the upside but that's exactly what we did the last time we did it when gold started down for another 80 dollars and remember we have a long term projection in gold at 1857 per ounce and remember 1849 is when they found the first gold up there in sudders mill up in northern california and even then real estate was expensive because it was sitting on a bunch of gold but that's what we're paying attention to watching these things because i use a combination of numbers and patterns i don't watch the news at all as a matter of fact the news coming in this week is that on the 24th of this month the nasdaq is going to discontinue the the waiting system that they have and that's pretty much more do we have stand in the house now hello can you hear me now larry you're here try number three we're ready to go my friend please continue i apologize don't worry about it was on my end so shame on me well you're you're we're pleasant to have you just for a shorter period as we can so please tell us what you're looking at my shred absolutely um i've got some charts i thought i'd share today first of all let's take a look at the stock market and uh this is a follow-up from what we've talked about before this is the s and p 500 uh right through just moments ago and what i've shown here are the trading cycles that have developed over the last year in time and uh the trading cycles all the way down into the october low of last year were characterized by left translation but since the october low through the present time frame each of the trading cycles you'll note has seen its crest occur to the right of the midpoint that's right translation that's indicative of bull market structure and it continues to the present wow how much longer you think it'll continue stand well i've got an answer for that before we uh before we complete here um this is a follow-up of the chart i've been showing you and the viewers now for literally months um it's an interesting pattern that i stumbled on and that is comparing today's pattern to exactly 20 years ago and this is just amazing larry but when i think it's going to run its course no it hasn't um this goes back the last uh couple of years and notice what i've done here with the with the blue vertical lines is i've lined up the troughs we saw a low uh back in uh 2002 uh on october the 10th right where i have my mouse and in the present time frame we made a low on october 13th then 20 years ago we made a late december low and most recently again a late december low then 20 years ago we made a low in mid march and just recently again a low in mid march and then you and i've been talking about this on the air and it just keeps following the script it sure has walked up walked up walked up back in 2003 the market made a high on june 16th and 2023 it made a high on june 17th and it sold off for a week and a half i actually thought when i was on the air with you last time we might go just beyond the first day of july well it bottomed uh i think on june 26th right in that time frame and then went higher and might made kind of an abc up and looked at the present structure i think we've got a commercial coming we'll finish that commercial we'll be right back with stan harley folks of the harley stock market letter stay tuned 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 basal 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 and stock prices get the opening call newsletter by basal 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 are you ready to take your trading to the next level introducing tom obrien's award-winning newsletter market insights your key to successful active trading tom obrien 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 ready to join the ranks of successful traders head over to tfnn.com and subscribe to market insights today don't miss out on this opportunity to supercharge your trading results market insights comes with a 30 day money back guarantee for all new subscribers so you have nothing to risk don't miss out on this opportunity to revolutionize your trading game head over to tfnn.com right now to join the thousands of traders who have already experienced the power of tom obrien's award-winning newsletter market insights firsthand 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 and p biotech three times bull and bear etfs visit direction investments dot com slash biotech today an investor should consider the investment objectives risks charges and expenses of the direction shares carefully before investing the prospectus and summary prospectus contain this and other information about direction shares to obtain a prospectus or summary prospectus please contact direction shares at 866-476-7523 the prospectus or summary prospectus should be read carefully before investing an investment in the funds is subject to risk including the possible loss of principal 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 they were back folks and we're speaking with stan harley the harley stock market letter please continue my friend absolutely larry uh what we're doing is we're looking at uh the pattern from 20 years ago and the summit similarity is just astounding um the uh the market made a high in mid june back then 20 years ago we did the same thing in the current time frame we sold off briefly then we've made a pair of highs culminating on july the 14th uh back in 2003 of course in the present time frame july 14th was friday i would contend that we are basically right in the head out of the envelope for a for a short term high and then assuming the pattern continues as it did 20 years ago we should be looking for a brief uh consolidation into the first week in august that would then alleviate some of the technically overbought condition we have right now and it would set the stage for what i believe will be a continued further advance into the end of the year well they sure destroy the selen main go away trick this year for the what 11 out of the last 13 years yes i'm not sure how well that works but yeah uh the the cyclical analysis and oh the pattern overlay and that's not the only thing i'm i'm i'm looking at but uh the market cycles uh the indicators that i tracked all uh the the right translation that we discussed in the prior segment tells me we are in a bull market uh one here's all the the uh wannabe technicians on uh other channels say that we're in a bear market and i just respectfully disagree i think we're we're in a bull and this thing is is going higher uh how high and for how long well i'll maybe i'll i'll take a shot at addressing that uh it's my belief that the high in january 2022 was probably the high for most stocks and most ETFs but when it comes to market highs in the stock market everything doesn't turn on a dime bottoms generally yes you get a spike a velo one and done sometimes there's a retest sometimes there isn't but generally speaking that's it tops on the other hand are rounding evolutions that sometimes take weeks even months to conclude and i think that's what's developing now so we had a high in jan 2022 uh there's another high yet to come which i think will cap this thing off they could last net high could last for years uh so when is that likely to occur well take a look at this now this is a chart of the new york composite going back three and a half years uh i'm sorry uh going back eight and a half years what am i saying uh cycle highs in my experience have as their genesis point a prominent spike low so you get a wash out low and then the cycles that spin out from that low very very commonly produce highs in the future cycle lows on the other hand have as their genesis point the their their beginning point a retest of that of that spike low in my experience so the market back in early 2016 made a spike low in mid january that's where the new york composite by the way bottomed and then as we project from that date then forward in time equally spaced approximately 24 months have been all the subsequent highs one really doesn't see this if one looks at a chart of the s and p or the downdestrials or the nasdaq or the dow transports but larry it's readily evident on the chart of the new york composite and assuming the pattern continues um that would suggest january 2024 about six months from now for uh for the next high in the series and that's what i think is going to happen right now uh as this thing is going to bump and grind a little consolidation for the next couple of weeks into early august regroup and then power ahead and i think you're going to see one or more of the what i call the big five components and and record high ground and that might that high might stand for some time well very very interesting these dates have been absolutely phenomenal stand i look at them each time that you're on and i keep a track record of it boy they haven't been off by very far at all if you remember uh three weeks ago you were talking about uh uh july the 15th and of course that was a saturday that's why we're having you on today and that's been pretty much exactly what you thought was going to happen we made new highs and just about all of those major well recovery highs of course with uh with tesla but almost all of them have had explosive moves to the upside you know my goodness they've they've really been phenomenal is there anything in the in the horizon that would change your this is a question for one of our listeners that would change your mind that maybe uh that's not going to make it new highs here for the year great question and the answer is yes i would have to see a breakdown in the in the rate of ascent uh of the major indices the big five the dow industrials the dow transports the s and p 500 the nasdaq composite and the new york composite i place the greatest emphasis on those five and if uh the the rate of upward price movement begins to grind to a halt then you know i may have to revisit things right now i don't see it but tomorrow next week next month could that conceivably happen oh you bet and i i never want to get married to yesterday's decision-making i always open start the new day with okay um what could change my mind or what could validate yesterday's views and that's how you and i and everyone else has to handle this business that's exactly what we have to do is do one day to time because when they explode boy they explode and stay up there for a long period of time okay today we have a question about the dow jones transportations uh is it up today i haven't had a chance to look at it but uh well that completed some major patterns from my perspective on friday uh is it up today again um well let me take a quick i should have checked that before you came on the air but i i actually forgot so yes um no the transports are down oh they're down about as we speak about 15 points it looks like it topped out i say topped out put in maybe a short term high three trading days ago um but uh generally speaking yeah the transports um they have a bit of a ways to go to get to the high that occurred the all-time high was back on uh november the third could they get there well they get north of 18 000 um little early to say is it possible sure i'm reluctant to make any projection on that index but i think the transports along with the other four components among what i call the big five grouping are going to chug a lug higher into uh into that january time period early next year okay boy that's pretty much spot on one other question from one of our listeners uh do you do any work i i know the answer to this but i want to hear from you do you do some work on gold also i do a lot of work on the metals in fact where do you think we're that's a good segue into our next chart okay oh good here is uh here's a chart of gold going back to 1970 and uh what i've done here with the purple lines is marked the major troughs that have occurred on the monthly chart and the dates march 76 feb 85 march 93 april 2001 and so on and uh they definitely have a pattern here a recurring pattern indeed all of them uh are separated by a cyclical function that spans 94 months in fact every 94 months plus a minus eight we've seen a major low awesome stan we're going to have you on again soon thank you for your help today and we'll have you back in a couple of weeks if you don't mind i look forward to it thank you i'm delighted to do your best thank you stan harley folks of the harley stock market letter 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 tomyo brian delivers options and equity trades when the markets present them using a combination of fundamentals and technicals sign up for rocket equities and 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 basal 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 and stock prices get the opening call newsletter by basal 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 everything in the universe is 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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 is 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 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 okay folks uh regarding a announcement of our program tomorrow it'll be shane's million to wolftrader.com will be our guest uh then we will have uh that'll be it for the rest of the week i will not be here on wednesday but i will be here on thursday and friday regarding the market making new highs again after the what we saw on friday that would not be unusual mainly because we do have this very extensive coverage of this full moon that's going on that might make it out a day or two but at least by wednesday if we're making sharply higher highs by wednesday folks all of the work that i did about this market making at least a good tradeable top will be to no avail and you can't mess with it so that's really what we're watching we uh basically have not even put a position on in the stock index as of yet um but those of you that uh you know we we talked about watching a possible 382 retracement if you did that you're underwater a very very small amount and as we mentioned you'd have to risk at least a point and a half or 150 points in the dow jones which is equivalent to uh 100 excuse me 750 dollars if you're going to do the s and p you've got to risk 20 points in the nasdaq i don't recommend people trading it until we get this thing done here on the 24th where these values of these things are a little bit more realistic because right now those seven stocks account for about 60 of all the volume is what i heard of the price action in the nasdaq so that'll all change i'll be a lot of information coming forward on that but that's not till the till the 24th of july that's a thing to keep a close line also we're still short the gold market that's acting okay we're not up a lot but we're up about what four dollars uh we were we're up about 14 but it's rallied back 14 dollars from the low they were made earlier this morning down there at 1949 but we believe the product that we're waiting the the area that we're waiting to see is at 1846 folks so let's live every day in an attitude of gratitude and may god bless