 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. Call now. Toll free at 1-877-927-6648 or internationally at 727-873-7618. Now, Larry Pezzavento. Okay, looking good, Billy Ray feeling good, Louis. I posted the chart here of the gold market folks. That's one that we do really well in. Today was especially good. We knew the market was coming down. We had a strong inclination because of the patterns that we were looking for. That would come in around 1955 to 1958 or 57-58. So we were buying in 1958 and we had a stop at 1951 folks. All I saw was when the report came out for the jobs report was I heard my beeper go off once and the first trade hit at 1954. And by the time I saw that the trade was filled and the beeper was going off, it was trading $14 higher. It's since went $23 higher. So we booked a nice $2,000 profit on that today and said thank you very much and now we're waiting for an ABCD pattern on the smaller time frame to come in and go back in again. Those are one where the pattern completed. It might have kept going straight up and maybe it did, but we were only risking $6 and it pays you three times that. That's what you have to do because the ABCD pattern is based on probability completion about 62% of the time. And if you'll hold on one second here, I'm having a, oh boy, this is really a good day today. Hold on folks, I'm in a couple of other things that are working pretty good here. And I have to do this because this is my business and I need to get ready here. I've got to be covering this little puppy here and just a tad. Okay, let's move on here and talk to you about a couple other things besides the gold market. Several people asked yesterday, they dropped me an email. Why was I so bullish on the euro? Folks, it was because of the dollar index. The dollar index was just absolutely screaming, please sell me. Let me get this up here so you'll be able to see it here. I mean, it was just, it was so beautiful that I brought it to your attention here yesterday and we also did it on the live show on Wednesday. But look at this. There's a beautiful 135 pattern. You're sitting right at the 61% retracement in Bahá'í from the number three spot. You're at 382 from the one spot. You're at the 786 of the three spot. I mean, you got so much there and you got an ABCD in between. And that's why you had it. I didn't know what the report was going to be. And you know folks, I swear to God, they can give me all the numbers that they want and they don't mean anything to me because I've been in this business long enough to know that these guys played with those numbers more than you might even imagine. I've seen it many times. And so I look at the charts and I keep it as simple as possible. And that's really all I do. I don't do anything more than that. It's not that hard for me to see if that is in fact going to be the case to do it. So that's all I can tell you. Sometimes they work better than others. That's true. But when they do work, they work very well. And that's what we're trying to do here is to give you some good ideas of when patterns complete and when they fail. Now let's take a quick look here. The stock that has been in the news today has been Mr. Appel who's down by the well. So bear with me here. I just want to walk through this because you remember the gentleman said that Warren Buffett said that if a person was offered $10,000 the only thing is that they couldn't buy an Apple product. He said most people would not take the $10,000. I disagree with that. Now you can see that it broke the downtrend channel on this news thing. But what's interesting about the news and I wanted to show you today because it was quite interesting. Because what I do is I try to validate why these things occur so that you can say, well, it worked this time. Maybe if you practice it enough, you'll see that you'll be able to get it. So what I did is I brought up an hourly chart here. This includes the time of the earnings came out and the earnings were good. Everything was fine. They still got $175 trillion or whatever it is in the bank. Probably a billion, not a trillion. But look at this. There was the last night and then in the middle of the night you see it went right up to a 382 retracement. Exactly. And then it dropped $5. I mean, that's a lot when you're looking at $195 stock in today. So those are just a couple. You should see some of the others that were moving today. Those were the ones that were very, very interesting to look at because they really had some spectacular moves in them. And let's get back to the bond market for just a second here because it's very interesting now because we did see a 1.19 handle in the bonds today when the report came out, 1.19.95. I can't find it on any of my programs, but that's what it shows as the bottom. So let me get this up here and I want to show you what happened since that time. You'll get up and take a quick look at it here. There's what it's been doing. We went below the number we thought it was going to do. It went 19.5. And what we did today already, folks, is rally two and a half points and we made a 382 retracement of that high we made just a few days ago. I mean, that's just, it's really, truly amazing that this thing works and it doesn't work all the time. I'm showing you the ones that work. If I showed you the ones that didn't work, we'd probably be on here for three or four days. Who knows? But anyway, that's the thing. We're having great volatility. That's the good news. The volatility that we're seeing is just absolutely awesome. And that's what you want to, you know, focus on of why we're doing some of these things here. So let's keep our powder dry here. And I am going to do something here one second. It'll take me just one second to do it. And then we will be done for the day. Well, not done for the day, but hold on just a second. Let me just get this click on hit the wrong button and I got big trouble. Okay, that's good here. Okay. Oh, wow. I forgot to cancel that time out, folks. What's going on here? Okay, hold on a second here. Okay, sorry, folks. I'm actually actually trading a little bit today. So anyway, that's what we're paying attention to so far today. Okay, let's move on here and take a look at the one second. I've got some charts here for us. And if you have any questions today, folks, it'd be really great if you help me out here. Because I've had a really, I have a lot going on here with that Wednesday show and all the emotionalism that went on with it. It's hard to do five hours like that. But I do have something that I did want to show you. And I just want to get this up here so that we can see it. And this has been a valid all day. Oh, here's just one second here. I can't get the right chart up. Give me one second. Well, better give me more than two seconds. First of all, I've got to show a chart. Rich Anderson said we really need to see this. And he follows this type of investor sentiment. And Rich is a pretty smart guy. So if he follows stuff like this, it's good enough for us to take a look at it. We'll bring this up here and you'll be able to see it here. There is the investor sentiment. You see, we're in the high end of this over the past years. But we've seen this, folks. That's why the market is where it is for heaven's sakes. You know, that's really what you're looking at is when you're seeing something like that. Okay. So keep that in mind as you're looking at this stuff. Wow. First break already. Shut the front door and raise a rent. We'll be right back with Billy Ray Valentine. 100 South Broad Street, Philadelphia, Pennsylvania. 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 Kegstad's Tiger Forex report. Teddy Kegstad 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's 60 minute webinar archive. He just hosted forex strategies and fundamentals. What is behind the Tiger Forex report? For all the details 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 it 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. 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Whether you're a seasoned 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 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 posted the chart of the crude oil here and as you can see, as you're looking at this chart, you can see on the far right there, we had that little poll back here just two days ago. That was an exact, don't tell me you don't have it. Probably not. Hold on just a second here and I guess we've got it okay. All right, so that part's good. Anyway, that 382 retracement, now you can see the APCD, which I sort of like that pattern, measures up to 74 and changes. But you see the red line right above it, boys and girls. That means that you're going to be breaking out of a long-term support point. I will bet a nickel to a donut and I'll do the work over the weekend. That's going to be a big, big number up there. See we had a high of 120. We had a low roughly 160, so that's 60 points. 30 back would take you up to just about there. It's probably going to be about a 382 on the whole move, but we'll have to do that on the weekly basis and I'll do that, of course, over the weekend. I've been asked by Tom Hougard, we're doing a special documentary and a thing for services for David Paul and I've been asked to do a one minute video of my relationship with him and how it started 20 years ago, mainly because Mark was living here, Mark Douglas, and David was a huge fan of Mark and they ended up being friends. And of course, David was very, very instrumental in working with, this is the understatement of the year, of working with the best loser I know, who is Tom Hougard. And anyway, it's going to be fun to talk about it. What I will do is I'll repeat it for you folks before I send it to Tom and see how it goes, but he was just a great guy. He was only about 5'8", and he looked rather frail, but he was solid muscle. He had been one of these brain reconnaissance guys, almost like an army ranger, and that's what he was good. He could still do, this was, he was 68. The first time we did a seminar in 2019, no, that was the first one in London, he was still doing one-hand push-ups. You know, I can't even push my hand, my desk away with my hand with one hand. So he was in great health, and what happened to him was, on June the 1st, he went to the doctor because he had some stomach cramps, and the doctor said, get your house in order. You're probably not going to make it to Thanksgiving, and he died six weeks later. I mean, that's a terrible thought, and I saw him, you know, the way he was going at the very end, and unfortunately I've seen that prostate cancer thing with other people, and it's not a good way to go, but he was on morphine, so he was okay. Let's get back to something happy, Larry, okay? No, people don't want to hear this stuff. Okay, let's move on here. I've already talked about the apple, I showed you what was happening there. Folks, I'm not bearish on apple, I'm just looking at a pattern, that's all I'm doing. I don't do anything more than that. I'm not trying to predict where the market's going to go at any particular time. I really don't. I do look at patterns and how they unfold, so let's take a look at one that's coming here to your, what is it, home and office this next few weeks, probably early in the week. I don't think it'll be today, but you never know. This is a price of your December wheat going over the last, oh, three, last couple months as you, oh, shut the front. Jacob, I have to call you about how to get this thing to access these charts, because when I click them on and put them into Discord, it causes me Discord because I can't do it. You can see here the similarities in both of these moves right here. Now, if you count the number of days down in this move and the number of days down in this move right here, that means around Wednesday of next week, Wednesday, Thursday of next week, hopefully we'll be setting right at that 78% level. You don't want it to be below that, because if it's below that, it's broke the cadence or the symmetry that's there, because right now it's just absolute perfect symmetry. And so we're waiting for that to happen, and then when we do, and when we do, then we're going to be able to take a very, very low risk position, much like we did when it was $6. If you remember, we had all those ABCD patterns. That's $6 a bushel about seven or eight weeks ago, six weeks ago, and that led to a buck and a half rally in the week. So these markets are not done yet. This is in the middle. We're starting the August season now. So soybeans next few weeks are really important for soybeans to get a lot of moisture, hot weather they can handle if they get the moisture, hot weather without the moisture. Not good. That's when you run into big problems over there. So we did a few things this week. We tried to pick the bottom and corn a couple of times, and missed it by here too. It was not a big deal. Rallied a little bit today, then gave it all back again so we know that it's not ready to go anywhere as of yet. Now, this is the one I really got an enjoyment out of today, because when the report came out, the problem with this chart that I have, folks, it doesn't show the exact low in the Treasury bonds. This is a 30-minute chart of U.S. 30-year bond. But the problem is the low was right here at $119.25, but the chart service that Ensign had didn't pick it up. I got it picked up on CQG, but it's not picked up here. So I made the adjustment here so that you can see the 3A2 off of the low at $119. So that's what it's gone to so far, which is $101.24 so far. But when somebody's talking, and I have nothing against Bill Ackman, I've seen him at poker tournaments before. He's so far out of my league that I'd parked a car for him. If I could learn to understand how to drive one of those Italian jobs. But I understand psychology of the market, and a real guy that's a big player like that, unless he's doing it for an ego trip, why would he ever wave a wand right in front of the Federal Reserve and say, you know, I'm shorting this puppy. I don't care who you are. Hey, maybe it's a, I don't know. Those guys are out of my league. So you know what, Larry, why don't you just be quiet and talk about the one thing that you do know, and that's AB equals CD. That's the thing that you got to really focus on when you're doing these charts. Nothing more, nothing less. That's where it really is. You remember, folks, yesterday we were talking about that bottom that was coming in with both the S&P and in the Nasdaq was coming in as of yesterday. And of course, it certainly did. And we're in the midst of this two-day rally right now. And we've gone up to the 382 retracement of some of these moves here. How much they're going to hold up or not. I don't really know, but we're going to keep a close eye on these puppies because as they unfold and as they unfold, that's what we like to see what's going on here. Okay? All right, let's move on here. Someone asked a question. What are we doing with the gold? Well, what personally I did when we had that first run, I raised my stop up really hard so that I would lock in at least $1,500. Because I was risking six and I made three times that roughly. And so that's what I did. It hasn't gone straight up from here. So it's going to give me another chance to do it. I'm not going to do it today because I got other things going on. Those of you that have been following the newsletter and all the videos that we set out knew the ABCD that we're looking at in the S&P at 49, 49, 46, 45, 55 today with a 10-point stop. We thought that would be something that would be interesting for potential to the downside. So anyway, that's what we're looking here. So live every day in an attitude of gratitude, but don't leave and come back. 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 Pesavento 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. 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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 and hit Watch Tiger TV. That's tfnn.com and hit Watch Tiger TV. Okay folks, we're going to go down memory lane here. This is a painting that was done by ILC Darneel. Her husband happened to be one of my friends from Eli Lilly and he was also one of my customers at Drexel Burnham. She was a very famous artist. She painted stuff for the Regans. That was Nancy and Ron and she just did a great job. She basically did fruits and vegetables and food so that type of thing but because Jack had made a couple of bucks with me as a Christmas gift in 1978. They gave me this beautiful painting. It was an oil painting with a beautiful frame around it and it had the ten rules that I worked with with John Hill, that banner across the top says, he who knows not what he risks, risk all. The little parchment that you see around, there's seven of them there. Those were the main patterns that I was looking at from the Gartley book and also from the book from John Hill. I didn't put the Gartley up there. I didn't get the butterfly until 1988 with Bryce Gilmore but I didn't really share the Gartley pattern with very many people because not because I didn't want to. Most people just didn't want to do the work to learn all the ramifications of it. That was it. The two most important rules there, the number one rule, is never add to a losing position. Folks, if you do that, I'm going to go through these one by one here because it's important enough I have to turn around and get all of them because I didn't memorize them. But the first one I memorized for sure, that is never add to a losing position. If you add to a losing position, you're doing two things wrong. One, you're increasing your risk exposure on something that's not working and two, you're already wrong. That's absolute insanity. That's how I lost my money in 1974. If I hadn't added to losing positions, I'd have been in great shape because I increased my leverage. I was in bad shape. The next one is never do a trade without a reason, I believe. That was basically the one that was very, very important. I'm going to turn around and read these because they're right behind me and I'll be able to read them easily enough. It says, place your stops or place for protection, you have to use them. Stick to your trading plan. Take equity out for rainy day periods. Boy, I've done that my whole life, folks. Every chance I get, never close a trade without a reason. Those were the top five. And gee whiz, my eyes are really getting bad. I can't even see that thing from here. That's strange. I better do something to read it right off the list then. Stop your place for protection, use that as number six. The only true facts in commodity trading are fear and greed and never allow a substantial profit to become a loss. Distribute your risk equally over several markets and never hedge a losing position. In other words, if you've got a loss, just take it off because if you don't, now you have two decisions to make. You take off the longer, you take off the short. And believe me, if you're in that kind of a mood where you hedge a losing position, you're going to screw it up anyway. So just get out of it and move on to the next one. One of the best rules that's not up there that I found many years later is if you're not profitable in what we do with pattern recognition in two days, get out on the third day. Something's wrong. These things work either immediately or they're suspect. And that's the key to what we're watching here. So I hope that helps you. Part of this painting is missing because I just did it this morning. You can see the ruler, and then there was a proportional divider on my desk, but there were also a stack of cougarans because we started selling cougarans in January of 77. And gee, we had a huge business because everybody wanted to buy gold because it was going up. The banks had Crocker Bank and Security Pacific Bank in California there in Beverly Hills. They had windows where you could buy gold. And you had windows where you could sell gold. No one was ever in the cell window not until later, of course. But there would always be a line of people four or five people in line to buy their coins. They were selling for anywhere from 190 bucks to about 250 that first year. Then of course 200. They went all the way down to 250. And I will have to, my hat is off today to our fearless leader Tom Sr. because when gold hit 253 I remember this really vividly. It was in 2003 and he said let's buy gold. And by golly, that's been a heck of a trade. And it was a good trade today anyway. But anyway, those were the things wrong there. We had all the cougarans that I never lost a penny anybody trying to steal one of the cougarans or anything like that. None of that ever happened. And it was a fun time working for Drexel. Fortunately yesterday there was one of the customers Drexel was one of our guests in the room yesterday and he sent me a nice email and it really warmed my heart because I had a lot of memories of that. That was the easiest time I've ever been in the business folks. I mean it literally was. The only reason I quit is because I knew I was going to be going to the Chicago Mercantile Exchange because I knew these computers were coming so that we could see the charts. We couldn't get charts back in those days. The charts didn't come available until 1983 thanks to the work of Walt Bresser and also Jake Bernstein and Ray, oh dear what's his name down in New Orleans. That's a minute. That CompuTrack and those guys put these things together so that you could have a computer with a, you know, have the graphics card you could do none of the colors but you could put moving averages and lines on it and stuff like that. All I wanted to see was the bar charts. I've always been that way. I've not used any oscillators or any of that stuff. I just never have. I'm just a strict what do you call it dog and pony show, one-trick pony but that's all I do is I do that one thing and I try to do it relatively well so that's what we're trying to do here today and what we did yesterday. We did the same thing. Picked out a couple of nice trades and stuff like that and that's what we're doing today. The big one of course was the gold. We've been talking about this gold folks for well over a week and of course been short most of that time and of course with the market breaking down if you didn't have your order to cover the short the loss because it hit 1954 is a low. I never saw the print. All I saw was 1968. After I got the fill the first trial I saw was 1968 because I bought it in 1958 and it went up to 83. It rallied that's 29 points which is quite a bit. The harmonic number of course is 34. It might get there later today but it should be a pretty significant bottom but no matter what you're going to lock in a thousand dollar profit on that. There's no way you should be able to lose on that trade and should book at least a thousand dollars. Preferably if you did two units you'd like to take off one of them and then you're going to be far better off than what you're looking at some of these things here. I hope that gives you a pretty good idea of what we're watching here. I'm going to add some positions on here hold on a second one of these days I'm going to get this crude oil right. It might not be in my lifetime but it will be. I'm going to wait till Monday. I don't need any hassle with that. Okay I have a what what was the other one I had one other one that was really super important. Oh shucks these charts are driving me absolute luck. Well I'll tell you what here's one I sent to Tom Hougard early this morning and the market had a big break in the middle now let's take a break. I'll share with this with you when we get back. 877-927-6648 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. 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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 This program is brought to you by Vista Gold Traded on the NYSE American and TSX under the symbol VGZ Ok folks, I'm going to take a second here and we're going to take a look at this wheat chart together make a few people a believer on some of these things give me a second to get it up here and then I just have to send it to my laptop and let's hopefully the laptop will get it and I think that it will and then we can bring it up and see it and there it is right there and all I've got to do is to go clickity-click and make a trick and see if it's going to do the trick I was a poet and don't know it I make it rhyme every time this is wheat. Remember folks when it was back here we were saying it was going to be a buy down here at $3 $6 ok and it did we didn't make all of this but we made a nice piece of change now we've backed off once went up and made a double top no ABCD or anything there that's your folks this is important because when you see symmetry like that the market is trying to tell you something that's all it's doing it's a sum total of all the buyers and sellers you don't have to worry about the fundamentals any of that stuff the fundamentals that you read in the paper hear about by the time they've happened that game is over you don't have to worry about it at all so here's what you're paying attention to you're seeing this move right here coming down if you count the number of days down you'll see that it's going to be 13 days down and on Wednesday of next week which will be 1415 to 16th right yep no that'll be the night let's say we don't want to get too far ahead of ourselves here Larry that will be the night and that'll be one that is really really interesting to see if this is going to to hold up or not and I this one thing we do know for sure that it will be a very very low risk rate that that's one thing we do know because it either works exactly at this point or you just get on another bus that's basically what you got to do you can't do anything more than that that's nothing else that's flat out that simple so let's do another one here just for fun just for kicks and giggles so you can see what we're playing with here and you'll be able to see it here because we got this one coming out pretty soon you're going to be seeing it at a drive-in theater coming to you it might even be there today I haven't even checked it hold on one second here this is the chart for the British pound okay and let's get it up here and maybe one of our esteemed listeners here will tell us if we made that level in the British pound which I think is around 129 we should have gone through 129 like it didn't even exist because did anybody can someone tell me if the British pound is trading above that 129 20 level I'm not able to I better get into the into the chat room where is that chat room here that's not important if it is it is it doesn't make any difference you know what I could probably pull it up but then I'm going to screw up my charts and I don't want to do that that makes it more difficult for me to get the information out to you and that's what I don't want to worry about too much the big one here folks is the fact that I wanted to show you what happened to bonds this week you'll get this up here because we had a early rally early in the week you'll notice here that it came in exactly well it missed it by about four pips right there was the 382 right here and from then we broke from this level here all the way down in here to the 119 level so that's what we're facing when we look at some of these things that it gets pretty hairy as you watch these things unfold here because now you've you've went way beyond anything you're almost at the old lows which are 117 okay and that's where we are today folks I hate to make a big case about what Bill Ackman said but you see I I try to think about why he would say something like that I know people like to talk about their positions I that's the one thing you just don't want to do when I play poker people ask me what are you doing I haven't really done nothing I'm retired because the more you tell something they want to know more about it why and who and Bitcoin all that stuff I never gave any advice and Bitcoin a one reason I didn't know what the heck it was John did but I didn't he told me when he was buying but that was none of their business you know I don't say anything about that because if you start talking about it then you have you have to defend why you're doing it and you don't want to be able to do that you want to be flexible enough to get out of dodge you know I live about 60 miles from Tombstone 1885 remember that when they had the big gunfight at the Ok Gurrell back in 1885 folks Tucson was not Tucson but Tombstone was bigger than Tucson was also bigger than Los Angeles they had 30,000 miners they were mining the silver four years later the mines were done and so was Tombstone now it's a little recreation area for country and western stuff it's a great place to go to see what it was like in the west because every day they recreate the gunfight at the Ok Gurrell and it's really they have horseback riding and it's really quite a lot of fun here in the west and of course we are rhinestone cowboys here so Glen Campbell would say okay one other one here that I need to bring to your attention we don't talk about it too much but it's been a rocket ship to the upside please please please please please please where are you here oh no no no don't do this to me yep you did it to me so I can't do much with it son of a gun alright let's get back to where we were here I want to bring this chart up this is for me it's important okay that's all I can tell you here let's get this up here because this is what's going on today alright get the chart up take a deep breath we're almost we're in this final stretch and down the stretch they come here you go right here this is the S&P you can see the low back here in early July there was a pullback this week yesterday on Tuesday we went right down to the 61% retracement of that low 1.61 of that that's led to a two-day rally Wednesday Thursday Friday the area we were looking to sell was right here at 1955 with a stop at 1965 and if that's all we get and we close badly or start down you can see we can have another move to the downside the tip off on this was the rally in the NASDAQ that was the one that was the most compelling because it was setting right at those key numbers and then we found out that it was starting to move a little bit lower so this numbers folks that all it is and I know it's a lot of fun when you look at them but that's pretty much pretty much what's going on here not today as we look at some of these things I wanted to I had to show you a trade that I wanted to show you but I didn't hold on one second let's get this up here I lose track of these charts and it's driving me Scosci Boccattati hold on just a minute here Scosci Boccattati is Thailand for you're going crazy okay let's move on I learned that from Joe DiNapoli okay now one second there's what we got to get there's what we want to get I want to show all of these charts that have made some pretty significant tops up in here and one of them happens to be the one related to agriculture none other than Caterpillar of course they make big rigs too but you'll see here and all kinds of equipment but we've made a double top up in here in the Caterpillar so that's going to be an interesting one to watch hey we got to take a few bills here 877-927-6648 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 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 within 30 days of signing up TFNN.com educating investors everything in the universe is governed by the Fibonacci sequence this mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market to stay on top of stock patterns you can take advantage of sign up for the Fibonacci 24-7 newsletter at TFNN.com when you subscribe you'll get a weekly report from veteran day trader Larry Pesavento 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 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now you're in a risk resituation and that's what you try to do when we did this day trading thing on Monday yeah let's try we did it on Wednesday and we did make some money enough to cover the tuition just missed a couple great ones but that's the name of the game folks anyway this is what we're trying to do each day with daily charts weekly charts seldom do we look at weeklies but occasionally I'll have to look at weeklies this weekend on some of these because they're very very important from a foreign currency standpoint especially with that US dollar because the US dollar had such a perfect ABCD and it's just fell out of it and you can see the 150 move we've had in the market for the euro today so we happen to be long the euro today we were long the euro sure gold and also we were we went short to stock market at 1949 50 45 55 and that's what we were looking at there and we've got to stop and break even on that right now so that's what we're paying attention to here today we'll always have some good time here for sure but let's do one other thing here before but folks do something nice for your neighbors if you can you know you really really should try to do that you know it just it just it'll make you a very make you a better person it'll help them and it'll also help you because the person that gives just as much as the person that receives if you give it in the right faith and I think that's good you don't have to give a lot maybe it's just your time maybe it's your advice but let's see on Monday with Mike Moore Tuesday Grace Morris we'll see you on the flip side boys and girls