 The following is a presentation of TFNN Trade what you see With Larry Pezzavento Toll free at 1-877-927-6648 or internationally at 727-873-7618 Now Larry Pezzavento Okay, looking good Billy Ray feeling good Lewis welcome to the offices of Duke and Duke 100 South Broad Street Philadelphia, Pennsylvania, and we want to wish everybody a wonderful Christmas holiday that started about seven months ago based on what the sales are looking like so It's booing everywhere folks. That's what we like to see now Let's get on to the markets the first thing I wanted to talk about is the German DAX as you can see I've posted the daily showing the big completion of the pattern that was there and then also the Hourly the hourly chart that shows the big break where we've had the big ABCD and started to rally Already today now whether it's going to be much of a rally here or not You know, we'll have to do one day at a time as what we usually do We've got a few questions to answer here this morning and the first one I wanted it just to give a little salutation here Dennis Gartman is Quitting the business which is really Unbelievable because he's been doing this for so long. I've known him 40 years But they've really been banging him up on the internet, which I don't think they should But if you'll take a look here The number one rule that Gartman, you know talks about he said several different versions of Gartman's rules Are floating around the internet and the fellow poet that this was his favorite But the number one it's the same thing on my oil painting behind my desk here It's never ever ever add to a losing position ever adding to a losing position Eventually leads to ruin remember in Ron long-term capital Nick Lieson etc etc etc Folks when you add to a losing position what you're doing is You're telling the market that you're willing to accept more risk in a position that you already know is wrong That there's nothing more in fact, it's probably better not to use a stop. Well, that's even that's Eventually they're gonna wipe you out with a stop But you've got it you've got to decide what the risk is because you that's the only thing that's unknown in the equation You don't know you don't know how much money you're going to make in the thing The only thing you can that you can protect it the only thing that you know is that risk So that's the one thing that you have to hold, you know close to your vest, you know, that's the the real thing So keep that in mind. I want to wish Dennis the best whatever he's going to go do now and You know, hopefully that'll be good now one other thing I needed to share with you because I think it's pretty important Tom who guard who I view folks know that he happens to be my very very dear friend I've known him for see you 15 years now, but he posted this comment on his site Over the over the weekend on Sunday, let's get this up here to take a look at it You'll notice here at the Dow traded below The low of the previous week for the first time in nine weeks. That was yesterday The last time it did that it said in motion a 4% correction The previous time that it did that it's set in motion a 5% correction From the moment the signal went live to the most extreme negative point. These are facts not opinions Now we've had a pretty big move as Tommy Tommy was saying just before the show started that, you know, we're down a full 1% Here very very quickly. So that's going to be an interesting phenomenon if that is in fact Going to be the case now what I was looking at is Because you know, we posted these patterns that we look at You know quite a bit. So let's just get this up here so we can take a look at it It's where we were as of Friday And you'll notice here that the number that we're looking at here for a 4% correction Which would be what we were looking at would be right at a 382 correction, which is at 27,250 now, I'm not sure it ought to be pretty close to 27,250 could someone tell me where that Dow E-mini is trading right now because that should be pretty good support But below that oh, there's going to be trouble in River City in my opinion So someone check that if you could be I'm having data issues again, but hopefully sometime this week I hope to get them fixed But if someone would check what the Dow E-mini is trading at right now, please it's 27502 So we're 250 points away from that that target that we're looking at. Thank you very much Marshall I appreciate that. Okay, so just keep that in mind That's going to be a very interesting thing to Look at as we go through now One of the first questions that someone brought to us over the weekend was the price of Bitcoin I want to get up to the chart here Bitcoin does not look very good folks We said that once it went below that 8,000 level that it was really big trouble That was a 78% retracement once we went below that we went all the way down to 6400 We rallied almost up to 7900. We're trading at 73 This thing is just has lost all support Now maybe it'll reappear but right now the Bitcoin which we've never I've never traded it and you know I don't recommend unless you understand what that you're doing because there's so many scams out there You know, there's just one right after another so keep that in mind that it's not an easy thing people do trade it And there are some ETFs. I guess that do pretty well. There's so many other things to trade I don't know why you even want to get bothered with it, but It's like the Pied Piper once he starts his little flute everybody follows along so we'll have to you know wait and see You know how it all works out. That's the main thing that we want to look at now Since I was gone we had a couple of big things happening if you'll notice here right before we left we were we I mean me When I took last week off, you'll notice here This is the natural gas contract and as you'll notice here We have gone down and we have completed that a BCD pattern I left you when we were trading about 2.7 and we were looking for it to come down somewhere between Point two three and point two seven and we got to 2.2 Point eight so we're pretty much right in that ballpark. We've rallied up to 2.41 Now the key figure to watch today folks are the next day or two is 2.46 and the reason why 2.46 is important It will be equal to the move that we had on the BC swing that took five trading days That was back in the middle of November late November and then what happened was if we get that same thing That will take us right up to that 2.46 Which will equal that BC swing It would also be a three eight two retracement of the whole move way back at two nine one And why is that important because that would be point one Point three would be at point C at two point seven three and point five would be at two forty six That would be a one three five pattern That's lower tops with perfect symmetry and if it does that and if it does that You know, then you'll be able to see whether it's going to have that harmony that we like to see whether it's going to To work up David White has posted some quotes from Charles Mackie one of my favorite books the popular delusions and the madness of crowds Men it has been well said think in herds. It will be seen that they go mad in herds While they only recover their senses slowly one by one boy if that's not ever the true case But we're certainly seeing that in places all across the world today in the rioting that we're seeing in this different countries Something's wrong folks. This is Something that's political that I don't want to get into but there's something not right as they say something smells I don't know what that quote from David. You could help me. What was the quote from math bet there? There he comes God bless God bless you David something is rotten in Denmark and boy we have a lot of friends in Denmark That's for sure. Hey, we're gonna take a little break here. We're gonna get back We're gonna look at the old piggies for ruby. We'll be right back eight seven seven nine two seven six six four eight If you're not currently using the Taz profile scanner when looking at setting up your trading opportunities Then your arsenal is short a mighty weapon The Taz profile scanner is a standalone piece of software that instantly filters over 2,500 global financial markets such as stocks ETFs commodity futures and forex headed by Steve doll Taz Understands that in today's technological world the use of top-flight software applications and technical analysis Expertise is essential to successful trading in today's market You also gain access to the webinar that Steve doll and Tom O'Brien just hosted the best way to use the Taz profile Scanner to profit this webinar archive is available for all subscribers Immediately upon signing up all new subscriptions also come with a 30-day money-back guarantee So you have nothing to risk start your subscription by visiting the front page of TFNN comm today And you'll find the Taz profile scanner under the services tab sign up today Are you in the market for buying or selling real estate in the Bay area including the surrounding St. Petersburg Tampa and Clearwater markets Tiger real estate LLC is a firm that has extensive experience in the Tampa Bay area Whether you're looking to sell your current property for maximum value or you're in the market for a second home or investment property Tiger realty has the experience across all areas of real estate in the Tampa Bay area to help buyers and sellers make the most Informed decisions across all price levels from the price You should be paying per square foot in certain up and coming areas to the type of cash flow investment properties are capable of creating Tiger real estate can help you make the best decision when it comes to all areas of the market before you make one of the biggest decisions of your financial future Call Tiger real estate LLC today at 727-329-8322 or email us at tiger at tfnn.com. 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Call us today Many of our new listeners have heard about the Tiger's Den The Tiger's Den is a lively community where professional traders and investors can meet exchange ideas and information in a comfortable moderated atmosphere Hear all of the tfnn shows plus see all of the charts as they happen live and have access to archives of all of those charts You can test drive the Tiger's Den absolutely free for 30 days and greatly enrich your knowledge of these markets and how to make your money Work for you details on the Tiger's Den or on the front page of tfnn.com tfnn has launched our brand new website You can still visit us at the same tfnn.com URL But when you do you'll see a new and improved homepage with a much simpler navigation Whether you're watching tiger tv live in high definition or just accessing your newsletter subscriptions We even have new pricing in six months and yearly options Check out the new tfnn.com now and experience all the upgrades tfnn.com educating investors Call now toll-free at 1-877-927-6648 internationally at 727-873-7618 Okay, folks, we're going to take a look at the little piggies here. We're going to go and take a look at april hogs These have been in a very nice trading range since april you're going back to april You can see the really nice apcd pattern Up to that level, uh, then you can see the high that was made there in april Then we had the abcd to the downside and then we had the abcd to the upside. Gee, this is abcd everywhere The key here folks is look at this. We had this really shallow rally here Took six days to do that rally. Can you believe how weak that is? And you can see how it closed. I I can't buy buying hogs here They got they've got to prove to me that they're going to do something and Right now they don't look like in fact all of these agricultural things that we look at the corn The wheat looks okay, but the corn and the beans and the meal and the oil all of them look very very Negative it looks like there's not going to be a trade agreement And that's what mr. Trump was alluding to today when he was over in In the uk So we'll we'll see whether that means very much or not But there's just a lot of things in this hog market and considering the news is so very bullish from coming over there The fact that they still have this terrible swine flu or not, you know have to just doesn't look like it wants to Do very much Okay, if you remember and I most think most of you do when we were talking a week before last before we left We were talking about the old crude oil The fact that it was in some serious trouble. Let's get this up here And we will notice here that we had a 5% drop here just the other day and now we've gone down and we've we've held some pretty good support Now what we've done thus far and those of you that belong to the 24 7 service know that, you know, we were Very buried this and when we got down to that level we were looking for a 38 percent retracement And we we started that sunday night and we got it Last night and we got it also During the day when we got up to that 5640 I believe and since that time it has been You know just drifting lower and I believe that with that wide-range bar to the downside It certainly appears that this market wants to To be going a lot lower, but you know, that's neither here nor there Now tomorrow we're probably going to have and I believe we're going to have our good friend arch crawford from crawford Perspectives as our guests and then later in the week We're hoped to have bill meridian from cycles research vena austria as our guest which would be Also a nice thing to listen to because boy both of those guys have been pretty much spot on especially Bill meridian my goodness. He's been Well, the bonds haven't done too much but boy. He's certainly been right about the stock market and the and the gold market too all right, let's take a look here at the One of the questions someone had was about Cross cross markets this it happens to be the canadian dollar US dollar versus the canadian dollar and that's overlaid on the crude oil chart the crude oil chart is the candlestick chart Let's try that again larry the canadian Canadian dollar is the candlestick chart and the blue line is the crude as a crude oil chart Now you'll see at certain times. There is a correlation, but folks That's the only time you see a major divergence here This is what means a lot is look at the major divergence that you had back in october When the canadian dollar is going down and crude oil is going straight up Then you have the canadian dollar going straight up And the crude oil coming straight down in december. That's what you want to look for and you don't need a diversion chart to figure that out so to trade off of this is to try to make a A statement that yes when crude oil goes up to canadian goes up or vice versa. I just don't think you can't John murphy has written a book about the intermarket relationships And I keep that book here on my desk and I I've found very few of them that give you they'll give you some percentages But you know if you're looking for a percentage just look for abcd patterns That you've got some ratios lined up, you know, that's really what you're trying to do when you're when you're a technical analysis You're trying to say In fact, we covered this in the newsletter this week and we talk about the abcd pattern Why in the world would anybody want to sell the s&p at 31 55? Then the reason was is it was just such a low risk at that point And you had a 1.618 you had a three drive to a top pattern whether you did it or not You know, I don't know but that was uh, that was something that looked like it might possibly happen and now we're down Like Tommy said, we're down 65 handles here in just a very very short period of time So, uh, let's just see here for one second. I want to double check something just to see what we're doing here because There we go. Oh, there we are right on the old money honey. Hold on just a second here. Well, we got down to 82 That's a pretty big low here. Let's get down here one second folks We are at a very critical level now folks. This is experimental I'm just going to bring this up here Because uh, you know, sometimes this stuff works and sometimes it doesn't but you'll you'll see what we've been watching so far Let's get up here. Uh, let me see 82 to 53. We're down 70 handles. That's a big move down here But sometime possibly and I'm just saying possibly here. Let's get this up here So you can take a quick look at it And all you want to do now is to look see because we're we are eight minutes past this if this market is not starting to go up here in about 10 minutes that this thing is going to be in big trouble all the way For quite a while. It looks like so Let's just do one other thing to make it make it look just a tiny bit easier We'll just get the daily up here. Wow, you can see the well there here Let's just get this daily up. You can see the 3a2 retracement in this is uh, all the way down to 30 39 so that's what you could possibly be looking at but those two Big bars down that you're seeing right there coming off of that 1.618 expansion Which is very similar to what we saw in the dow Jones That is very very important that 1.618 number is Just really really important as we've always said but watch it here the next 20 30 minutes because We should get a little bounce and that's what you'd be wanting to look at Is if we do get this little bounce these two big days down Go back to look in july folks. You see the big days down. We had an early july You see that and then look what happened in september the big bars down. It's telling you wants to go lower So that's what you're looking at the news is following the trend. So who knows what's going to happen I you know, we have to wait and see we're having a little bit of a bounce in the bonds Which we still expect the bonds to go nowhere. I think we've made a major top in those darn things, but uh That's neither here nor there what we're watching. So pay attention to this because This market has made a major turn up in here and remember we talked about open interest several times Because even when the market was exploding on that big day where we have 280 points, I believe we had drops in open interest in all the major indices And this past the past rally up here was the same thing. We made new highs You know drop in open interest that means new buyers are not coming into the party folks So we need to pay a very very close attention to that At least if you're doing technical analysis, and I think a lot of you folks are doing that Okay, we had another question pop up here. Let's get the answer to it if we possibly can That is in the old futures market. So if you'll give me a second I wanted to bring it up and it's about the old El sugar and you'll see here and we'll get this up here We think we made some type of a little high here in the sugar market I don't know where we are that we shouldn't get much about 1300 here in the march sugar I don't know where we're trading right now, but there's a lot of resistance coming in at that 1300 level in the march sugar if someone would be kind enough to tell me whether this is going to be Looking or not, we'll be able to see if that's the case So we'll have to do you know one thing at a time. So we'll be able to see it Okay, so we'll take a little break here and we'll be back and we'll ask some more questions 877-927-6648 Larry Pezzavento has just started his brand new service Fibonacci 24-7 And he's already delivering content to his subscribers on a daily basis when the markets opened and even on weekends Each monday you'll receive Larry's written report that provides detailed commentary and a summary on the charts and videos that Larry sends out And throughout the week when warranted Larry will send out via charts or videos or both The key markets that he is watching during the day This will be up to the date active trading information that will help you in your daily trading in Larry's first week alone He sent out 25 charts six videos and a full report to his subscribers in just one week If you're a technical trader that uses patterns and retracements to trade then Larry's service Fibonacci 24-7 is something that you must try right now new subscribers can get a full 30 day money back guarantee With nothing to risk sign up now to Larry Pezzavento's Fibonacci 24-7 by visiting the front page of tfnn.com under trading newsletters The path of least resistance is david white's daily trading newsletter And if you're looking for active trading ideas then now's a perfect time for a 30 day free trial to this powerful daily trading advisory service David uses his years of trading experience to offer his subscribers his trading ideas each morning in his path of least resistance newsletter Using a combination of equity trades along with options David keeps his subscribers up to date with all pertinent market information with intraday afternoon updates when warranted Don't miss out on this great chance to get a 30 day free trial to david's daily newsletter The path of lease resistance with no obligation to pay anything david has been delivering solid recommendations for his subscribers Recently and if you'd like to see the type of newsletter he delivers every morning Then visit the front page of tfnn and you'll find the path of lease resistance under trading newsletters For all the details and to start your 30 day free trial today log on to tfnn.com now Tfnn is excited about our new software charting program the art of timing the trade charts In collaboration with tom o'brien and using his best-selling book the art of timing the trade your ultimate trading mastery system David white has programmed an outstanding piece of software that will complement any trader's methodology Using this first of its kind program the art of timing the trade charts allows you to scan thousands of stocks for Fibonacci formation setups including guardleafs abc's butterflies and much more the art of timing the trade charts is designed to Help you when scouring the markets for stocks Just beginning to form the trading patterns that many investors spend days weeks or even months searching to find and right now We're offering licenses available at only $79 a month We are so confident that you're going to love this new charting software that will even give you a 30 day Unconditional money back guarantee don't miss out on this incredible new piece of software Get your copy of the art of timing the trade charts today by visiting tfnn.com This segment is brought to you by think or swim For more information just click the think or swim banner on the front page of tfnn.com okay, we're back folks and No one has been able to tell me the last price of the marked sugar So you'll have to bear with me a second here and i'll see if i'm able to get that doggone thing up here just to be safe and That would be right here. I believe let's see if we can get that up here You were trading at 1289 so it's no big deal hasn't really done anything that top is in pretty good So watch this level here at 30 79 here in the s&p folks That's the that's the failsafe we get below 30 79 We're probably going to get down to that 382 retracement rather more quickly than we Then we might want to see so We would watch it very very closely is what i would be Very very closely watching that gold has had a really nice move here folks those of you that Take the 24 7 you'll be able to see that You know, hold on one second. I have to do something Okay Okay, let's get back here for one second here And I wanted to talk to you about the gold market here Just let me get this up here so we can do i'm trying to do two things at once which Sometimes when you just back from the old thing, we'll get a Coast low there we get the gold there we here's where we are right here This is where we are in the old gold market What we have right now to over. Thank you very much marshal and bill. I appreciate that Price out here's the gold. We're still looking for potential here of a 1440 excuse me 1415 This is february gold now folks, but if we get above 1500 that's going to be bullish now what we're doing right now Is you'll notice you'll see that price of 1485. That's a very very important number folks The reason for that is you remember the old harmonic numbers that we talk about all the time by the bing by the boom We're right near that harmonic number and we're completing a very small abcd here so pay a little bit of attention to that here between 1485 and 1487 but anything above 1400 1500 in that gold to me would be very bullish from a technical standpoint and believe me, you know, we had a really nice move down Those equal moves that we had were certainly telling us that 1456 Bases the february gold was something pretty important now. We're 37 bucks above it So we'll see whether that's going to mean very much or not. So that's what we're really watching about Someone asked a question about how these harmonic numbers Came to to be and that was basically because of jim 20 men Jim is a really astute market technician He had studied gan for quite a while and gans laws of vibration and stuff And he had noticed and we'd had this MIPS computer which looks at millions of integrals per second mips And it would constantly be spinning out these numbers That we would see over and over again. And so he named them harmonic numbers And so that's what we look for each each entity that trades has its own harmonic number and you can find it yourself The the two easy guidelines are is if you'll take three percent Of the value of what the thing is you'll have a pretty good idea of what the Harmonic number is just take take gold right now. We're trading it. Let's say 14 83 percent of that. It's 15 So that's about That's saying it's about 46 bucks. Well, whether that's or not I believe it. Well, I know that gold we already know the gold is 60 64 dollars and 32 dollars, so we already know that one But if you just do that But the easiest way to do it is to take a hundred Price swings on a 30 minute chart and start to compare them to see how they are You'll notice that all of the swings That you're able to see that are the deterrent that you can see them look at them But they'll all be related. They'll all be related by 618 786 1.27 or 1.618. That's the thing that That you want to be watching very very closely So that's what I would be watching right now. I think the the gold is certainly Doing what it's supposed to be doing here. So pay pay close attention to it and by golly You know, it might have a heck of a run here I think you know on the technical side of this folks if you look at that gold chart We've been in a 10 week correction. That's dropped 160 bucks and believe me. That's the first big abcd Okay, mr. Z is asking me who taught me the 1.27 and 1.618 the 1.618 expansion levels were talked to me by John hill in 1970 when we were up in san francisco We had a little proportional divider there But I didn't understand. Let me this is 1970 now. You got to fast forward 18 years 18 years folks to 1988 when i'm in chicago And i'm watching brice gilmore give a presentation And he was showing me 127 and all these numbers that I had not heard of him even though they were numbers Of sacred geometry and he had this program called the wave trader that put everything together In a beautiful like when you're seeing these butterflies and garlings that we post here He was doing this on a computer and I said, wow This is really something and then he had a little gauge there that said if there were so many ratios President one time the ratio went from 5 to 10 and when you had a 10 The market almost always turned at a 10 Yes, it's still online. You can still get it. I don't know how updated is and stuff, but it's still I think it's very very good And it gives you those ratios that to all line up and that's what we're doing folks when we're when we're watching that The uh, let's just give you an example here because it was the same thing that we let's just do it with the spy Because you'll be able to see it Real easy if you put up the spy here the cash s and p index This is what the wave trader would look like it would show this one two three drive to a top pattern And he didn't call it that it was something else and then you'll see the you'll see the butterfly pattern That's the one that uh, you know that I renamed it because uh when I saw these on the wave trader I thought it was be a good pattern the three drive pattern comes from Gartley and also from George Cole the keys of speculation those books both were written into the 30s They had those back in those days and of course the abcd comes from Gartley and also from Wyckoff but Gartley was before Wyckoff So, you know Gartley was the first one to really to really show it as an abcd pattern now remember Ralph Elliott he started in 1938 and Gartley had already published his book in 1937 So he was they these guys had to know each other because they were all from the east coast in new york So i'm sure that they were banging heads as they went through, you know, some of these things that they're looking at Here today, so let's keep in mind here that we have a big move down here in stocks for two days That's a that's the that's the red flag folks. That's a calling card Saying you know something's not right in river city And I don't think it has anything to do with china or any that other stuff It's mainly because there's a major cycle out there that is finally hit and whether it is even gonna Go back and make new highs and not which is certainly good But that those big wide-ranging bars are pretty good. Oh, we've got Mr. Z on the line here, but we got a break coming up. Z are you on the line? I am sir. I will hold through the break Okay, what we're going to do here. We'll talk up until the break you want to take a look at the march wheat Is that correct? Well the march uh just uh I'll post the march wheat and we'll talk about it when you get back eight seven seven nine two seven six six four eight If you are in the cd market and looking for a secure investment The tag of first mortgage program may work for you The security for these first mortgages are building lots in the tax opportunity zone in st. 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We're talking with mr z one of our specialists and just about everything But especially the greens. We're taking a look at the chicago march wheat mr z. You've got the floor. Tell us what you're looking at my friend Oh my lord, you know, yes Yeah, what a lucky guess, huh? it was also one day one day from the uh The new moon too, but what do you what do you see between the kansas city? You know see these these commodities other than wheat are not acting like there's going to be any trade agreement with china I mean they're going down. I mean soy beans all of them. They're just uh, meal everything is very very weak It doesn't look like there's any trading agreement coming. That's uh, I that's what it looks like to me share something Please come in anytime Yeah, I want to most put yours and your listeners in the demand side And this is just export demand is higher than a year ago and China is in there buying Uh regularly Uh, so forget the uh, the idea of a trade deal or not Just look at what people are actually doing and it's not a secret that they're buying. They just come in there Been buying every week So yes, soybean price is declining But has nothing to do with the fact that or with the With the idea that some people falsely make That china isn't buying united states soybeans. They are Um, soybean prices are declining, but obviously there are other things at play west beans Why do you think the maybe I mean is it because of what's happened in? Uh, uh The the amount of beans that are coming out of uh, south america is that You know, it's just uh, because they're they're about half the world demand now, aren't they? They're pretty close to the administration acts shopping intensively around the globe To ensure our greater supplies of agricultural commodities Uh, so for example China is financing increased soybean acreage and and of course in brazil soybeans have already been planted and you know, we'll be harvested come february and march Uh, the chinese are also financing that builds out of Greater port facilities in brazil and argentina for what's worth and frankly speaking the chinese are actually, uh Doing deals with russia And believe it or not russia looks like it's ramping to become a sizable soybean producer itself so um, uh, so yes, uh, apparently price Is slipping largely of expectation February and through next summer will quite sizably In brazil and argentina russia, but also the us and just recall larry this past year In the united states because of that very wet Uh, very late and wet spring soybean acreage Or yes planted soybean acreage was way down think the number 77 million acres that compares to 90 million acres of soybeans back in 2018 so Coming next year Is a guest to be planting something north of 85 million acres up from 77 this past summer So people are looking ahead at potential future supplies and saying holy You know holy cow unless we get drought someplace. We're going to have an oversupply problem Well, that makes good sense. What what are you hearing about the uh, you know the livestock? I mean cattle been going up forever, but what about the uh, the hogs? I mean hogs should be you think hogs with all that news and there's again Technical indicator that you don't want to listen to the news But you know, they're telling us that the the hog crop is still really bad over there yet They're not buying any of our hogs. That's for sure No, that's incorrect China has ramped up. That's the other that's the other problem with listening to headlines Um our trade disputes, but here's the fact of the matter china is Is uh importing more us pork in the year before and us pork exports are upsizably year over year And say feb hogs at 66. Here's the idea If not for those increased exports given very large supplies of us pork Big hog herd price would be uh down under 55 So uh price is up a count of that very idea of African swine fever having decimated the chinese herd. So once again, you hear the talk Gotta go look at the numbers see what they are And it all makes perfect sense where feb hogs are 66 Can they rally some from here? Sure But if not for that export demand, which is increased this year you'd be 20% less Oh, wow, that's really amazing. Well, I'll tell you john I'm thankful that I'm a technician because it's some of the stuff that you see In the news the response to how the market reacts to it. You know that there's something not right You know, so I thank god that you know being a technician you're least looking at the bars There's the prices are going up people are buying Prices are going down the pieces are prices are selling or people are selling So as long as we got that on our side buddy, I think we're going to be okay So yeah, can I ask you the reason I called in one to ask if either rich anderson or simon lane conversation with you Had shared any opinion or ideas with you regarding that chicago wheat The chicago wheat just for backgrounders sake up there at that 535 mark chicago wheat This is a full almost a full dollar higher than kansas city wheat. Yep Normally, uh, chicago wheat is cheaper than kansas city wheat because of lower protein levels The reason it's higher in price Was because that very wet spring Uh, in the soft red winter wheat belt last year Uh, just decimated the crop a lot of a lot of that chicago wheat variety Just wasn't harvested and by the way even though that contract is the most heavily traded in the u.s It's actually the smallest of the four wheat varieties grown in the u.s Okay, john, we got a piece you we got a piece you thought i've always um Marvel dad, uh, kansas city wheat is the biggest miniapolis wheat is the second biggest actual crop size So what is rich inside telling you on that if anything? I'll I'll ask him I talk to him every day Thank you I'm certain you are or strive to be one of the best of the best at everything you do in life It's the most common trait that we tigers and tigers share If you're looking to become the best of the best when it comes to managing your money Let me teach you to do what most wealth managers tell you can't be done Which is how to time the markets I'm steve rhodes author of mastering probability and for the last 12 months Timer digest has been tracking my newsletter signals Which have earned me the ranking as their number one market timer in the nation for the s and p 500 For the last 12 six and three months timer digest also ranks me as the number one market timer for gold as well The fact is markets can be timed and I'll teach you the exact set of tools that I use that has transformed me into one Of the best at what I do sign up for mastering probability today by clicking on the newsletter tab on the homepage of tfn.com And get immediate access to workshops where I take you step by step How to use an extraordinary set of tools as well as provide great market calls to sign up today If you haven't checked out the newsletters page of tfn.com What are you waiting for all of the tfn newsletters are informative up to date affordable and must have for every trader Looking to gain a competitive informational edge in today's markets tfn newsletters cover every aspect of the markets to offer you the very latest in market news Plus new subscribers get to test drive our newsletters risk-free for 30 days From all aspects of the markets including stocks bonds metals commodities and tech There's a newsletter to fit your needs Exclusively from tfn Stay informed each day you trade and get that competitive edge that will help you stay ahead of the game Visit our newsletters page by going to tfn.com and click the newsletters button near the top of the page tfn.com educating investors Since 1984 basil Chapman has been using the Chapman wave methodology to advise traders of his expert market opinion While originally hand drawing charts from the late 1970s into the 1980s Basil noticed that prices under most circumstances virtually always had a certain number of legs to the upside before declining sharply Later basil found that computer software which included the standard market technical indicators enhanced the degree of accuracy and calling price turns As well as market trend calls Thus was born the Chapman wave sequence Using the Chapman wave methodology along with other indicators basil Chapman advises his subscribers of his expert market opinion Each market day with his opening call newsletter right now You can get a two week free trial to the opening call basil's daily trading newsletter by visiting the front page of tfn.com Cancel at any time during that trial and pay absolutely nothing Get your two week free trial to basil's newsletter the opening call today by visiting tfnn.com This segment is brought to you by think or swim for more information Just click the think or swim banner on the front page of tfnn.com Okay, folks, we broke down below that level that I was looking at 30 79 we got down to 30 70 I believe that that 30 85 now is going to be a little bit of a problem today for the market. It looks like it's uh Oh, just a second here. Oh god, I messed up Oh boy, hold on just a second. This is it's gonna work. Okay. Anyway, that's what I would be watching remember we had that big abcd pattern there at the In the s&p the dow Jones if you get the newsletter you'll see all of them were there They were all doing the same thing But there was one that wasn't and I just should I think we should bring this to your attention because it's really worth a price of admission You know to look at this one because a lot of people trade it. It's it's fact It's it's the second best traded of all of the stock indices It's the it is the russell and if you take a look here at the russell This is what's interesting here is on last friday. We hit that 78 percent level absolutely spot on That was from the highway back in august You see the head and shoulders pattern that we had that work for pretty nice move about three and a half percent Then we had the three drive to a top pattern and that completed up there at that 163 and change And that's also under a little pressure today. So these markets have had a little bit of a problem here They're not going to go straight down. There's going to be some really great swings here This is why the volatility is going to be Really really spectacular. I think for 2020 and I really looking forward to that So, uh, that's hopefully we'll be able to see some of that We've had some great volatility this year too, but I think next year it's even going to be greater because there's so many things out there Willing to make these prices jump up and down which they don't really need a lot of help sometimes But the news is always in there Doing it. I believe that some of these commodities are going to bottom in here We'll have a little bit of a sell-off some more here in the corn and also the beans and we'll be watching for a buy here Very very shortly here in both corn and especially the soybean meal So we'll be watching that very closely. I will have an answer for mr. Z on that kansas city Minneapolis wheat Of course rich is in there. Listen live every day in an attitude of gratitude and may god bless