 The following is a presentation of TFNN. The Tiger Technician Hour with your host, Basil Chapman. Call now toll free at 1-877-927-6648. Traditionally at 727-445-1044. Now, Basil Chapman. Hello, I'm Basil Chapman, the host of the Tiger Technician Hour, and the author of the opening call daily newsletter. It goes out every single day, and we're looking at the marks. In fact, let me just show you something here, for instance. Here is, this is the daily, yes, my daily chart of the doubts when I send out. I discussed where we are on the Chapman wave methodology, so you're actually learning the methodology as we go along every day. Look how nice it is above the different moving averages. Look at the MACD, the moving average convergence divergence, how strong it is in the daily chart. Look at the stochastic up at 94%, 95%. This is really good, yes, on balance volume turned down with that final hour sell-off on Friday. We'll be watching this, but in the meantime, this looks very good. Look at the low, this beautiful doji candle at the low on the 3rd of June. That's where we went long, and we remain long. A position of the 200% long ETF. Let's see what else I can show you. Every week I do this. Yep, that's the doubt. I show this in three time frames, the daily, the weekly, the monthly. I discuss it in great detail. Where we are, look, the daily is in a buy mode. The weekly is in a buy mode. The monthly is in a buy mode. I'll talk about these three tops that are being three trendline resistances that we're getting into right now. I don't want to call them a top. I don't know if this is going to be a top. There is enough evidence to say to me, just get out of this and I'll show you something interesting, or something that I think is interesting. I'm not sure if you will. But what's really important about this is that look at the move in two legs to the upside. Why? How do I call? Let me just show you this as well, since this is the beginning of a new week, end of the month coming up. My core pattern is in the Chapman way. We start, we try to identify the lowest low bar. Really count each successively higher peak and label them alphabetically on the way up. A is the first peak. One penny above that goes to B. It pulls back. One penny above that starts leg C. It becomes a peak C when it turns down after that. And then one penny above that goes to the fourth highest peak peak D. Fourth highest peak peak D is where other things can happen. It can go on to E, F and G, not the point. The point is that your objective in the Chapman way is to get you to a D in all the different timeframes. It could be overlapping waves where the daily has now gone to a D and the weekly is just barely in maybe a leg A, maybe even a leg B. But that baton gets handed over like we did with the dollar from the April of 2018 low where the baton of the daily hands over to the weekly because the weekly is starting to build pressure, upside pressure. Then the weekly becomes very important because it hands it over to the monthly chart. So this is what we talk about in timeframes. In terms of formations, make it simple. There is, let me go back here. Straight line move either up or down. And then there's an arch or a cup. And there's a combination. So there are really only three patterns. Straight line, arch or cup. And what we're looking at is in this H pattern when it fails on the left side is what we're starting to see today in some of the patterns. You can see that if you take the left side out, it could be very negative. That's why it's red. On the upside, you take out the left side high. That's positive. All right, enough with that. Let's get to the nitty-gritties. How does it apply in real life? There's your arch formation. It was very negative. It went even lower until we got a buy signal. We actually anticipated the buy signal from the Friday closes, big ugly red candle that there really should be a turnaround based on a whole bunch of factors that I described in my webinar last Wednesday, Wednesday a week ago. I forgot last Wednesday was on vacation. And I did the show, but I still on vacation. And now what we've got is this cup formation. And this cup formation is really important. Let me show you in a little bit more detail here in the dating chart. You can see that in the dating chart, you've got the, let me just move it over here. You've got very strong technicals with the MACD, the moving average convergence divergence expanding. I'm just starting to see the histogram, the vertical lines become a little bit, just turned down a fraction, and the stochastic stall very strong at 95%. To me, those are really positive aspects. Now, in terms of the Chapman wave, that means since it was a lower low than the start of the previous buy mode, which was on the 11th of March at 25,232, we have to consider that this is a very fresh start with this beautiful doji candle right at the turnaround. Oops, this is slipped away, there it is. With a crossover with the MACD, almost what you call a squash in the Chapman wave methodology between the stochastic and the MACD saying, should go to a very quick A and B. Sorry, I should put it another way. A very strong leg A and then a leg B, and then maybe a C, and then the momentum starts to fade and the stochastic starts to pull back a little bit as the MACD fast moving average, the green line needs to take over from the stochastic, it has to lead the market higher to that D. All right, so as it stands out in question, do I think that there's some kind of a top coming in here in the S&P? I'll get to the S&P in a moment. Let's go with the Dow. The Dow says there should be a leg C and the leg D in my Chapman wave automated resistance levels. You've got a resistance all the way at 27,160.90. So into that 27,130 area, just really getting into the 27,000, I think is going to be a really big feat and if it does that, at that point you might start to see some selling. Number one, number two is the WikiChart is in a leg D. These patterns tend to make an arch formation that could turn into a second arch formation. This is a very powerful breakout. That breakout will occur if the WikiChart at any point doesn't have to be on a weekly basis. It just has to be even on a daily basis. Trades above 27,290. That'll be a fantastic breakout and that'll mean that the chances of a double, of a triple top here, are going to become scarcer and scarcer. But if there's strong resistance and we cannot start to see closes above 27,000, that whole 26,900 area becomes a sharp resistance. Then we're going to say, all right, be careful. These are no shorter gym bases. Let's apply that to the S&P right now. The S&P trading at 2950, up 0.36. After a nice move last week, going to a leg B possible peak B. There's no new recovery high above 2964.35. That was the high on Friday. That'll make a peak B and the MACD is very strong and the stochastic is at 95%. The MACD in the weaker chart is positive. It's not great and stochastic at 70% is really not that good. That monthly chart has gone to only one leg up since the load that was made in December. I wonder if I can put that there. And that's different to the Dow. Look at the Dow. This is going to be so fascinating as it unfolds. The Dow's already in a leg C and the S&P's only in a leg A. In monthly charts. So the MACD and the monthly chart of the Dow has to still cross positive. Stochastic is at 81% and that's good. All right, let's go on to the QQQ just to do an analysis here since the beginning of the week, almost end of the month. And the QQQ has gone to a leg C probably a peak C if there's no new recovery high today. The MACD is good but nothing like it was at the all-time high of 191.32 on the 28th of April. That plunges down to the 169.27 level for the start of the big rally during the 3rd. I'll be back. We're going to be talking about nitty gritties in the indices. We're going to go to the commodities as well. Going to go a little bit more into the dollar and the euro and gold. We're talking about crude oil and bonds. And then we'll talk stocks. Hey, there's a lot to do. I'd like that. Files of capital, Tiger Conditions Hour 877.976648. Love to hear from you. The TAS Profile Scanner is the most revolutionary piece of trading software that you will ever try. Wouldn't you like to approach the markets with confidence? As you begin your trading day, it's likely that you'll be faced with lots of decisions. 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Question in the Den was, for those of you who use the Chapman Way methodology and use it a lot and understand it well, the question was, could this not be a leg C? In fact, I still have to call it a gray leg C because it hasn't made an all-time high. Could it in fact be a leg G? And that's a very good question and I'll answer it because it's a purely technical question and for those of you to Chapman Way methodology, that's what I like to do here. To be a leg G, it has to make a new recovery high, a new all-time high. In other words, it has to go about 26,951. Right now, it's not even a gray G leg C because it hasn't made the new high. After F comes the next letter G. There is no H, so G would be the next letter. So number one is the answer is it cannot be a G until it goes above 26,951. That's number one. Number two, within the context of what we're looking at right now, let's just say it's a C and it goes to a new high this week and it goes even just pennies above or a dollar above, 26,951 goes to 952. That will be, it depends where we are on the daily. In the daily, we just have to go to 26,908 today. That'll extend a leg B. I don't think that's going to happen. Before I subscribe, as I said, did I even discuss it a moment ago? I discussed it. Yeah, I should have said, this is what I should have said, that for my daily subscribers to my opening call, what I said is today, if the Dow is plus 50s or more at 1.15 pm eastern time and up close is likely. But if there is weakness with the minus 30s at any point, then the chances of a week close increases probably running into Tuesday with leg C later in the week. So I try to describe everything that I can. I do the same thing with the S&P and we're looking at all these different factors and that's really important. So now what I'm looking at is within the context of this market, if by Wednesday, let's say we've gone to 26,908, that'll be a leg C if today is a peak. And then it could just pull back on Thursday and Friday we could have a nominal new high and then by the end of the week, that means the holiday weekend, the holiday week, I think what is the fourth of Thursday or something like that. Then what we're looking at is some kind of choppiness becoming very important to monitor. But at this particular point, the MACDs stochastic are really strong. I'm not going to say I'm only expecting slightly higher highs. I'm saying there's a good chance that with the market as it is, kind of a mixed market, there's now a lot of pressure. The upside is going to be limited, especially based on the Chapman Wave automated resistance level of 27,160. The S&P has an automated coming up, automated resistance level way up at 3027 because it's already broken the other ones. So that is really, I mean that is 51, 56, and 70. It's like 700 down points in the QQQ and I think that's going to have to wait. The QQQ has resistance at 195, 69. We're at 180, 851. That's a long way to go. So that's one of the reasons why I'm still very bullish in the market, but I am expecting some kind of choppiness to unfold very soon. All right, let's get back to our story here. I want you to look at the TLT. So the TLT is trading at 132.28. 132.86 was the high on Thursday and that was a doji candle with a gap down. And I'm saying that this is a very, keep thinking of this as a high level consolidation within the context of higher highs and higher lows. So there is no signal yet to suggest that the TLT is about to come crashing down except if you look deeper, you will see that the stochastic is now at 71%. It's pulling back sharply. And this is just after a recent multi-year high. And the bank is way lower and failing. So this is to me that there's a chance. Now, let's just do this as a counterpoint. You've got one going up, one going down. And what we're looking at here is trough G. G slash C. No, no, no. G slash C. Right here, 29.96, 29.96. Yep, that's what it is. So this is an F and this is a G slash C in the TBT, which is the inverse of the TLT bonds. This is now short bonds. So it will go higher and the long bonds goes higher. The TLT, when the yields are coming down, when yields are going up, goes up with the TBT as the TLT comes down. So this is now a leg, this is interesting. Look, this is a leg A. We'll see if it can make it B. I'm suspecting that there are just enough business reports, or financial reports, or economic reports that are coming out that are going to suggest to the Fed that we are looking at lower rates, but I suspect they're going to say not just yet. And that says to me, there's a chance, and especially if you look at the IYR, I'll show this to my subscribers over the weekend. Let me see where it is. I'll find it quickly. IYT. Let me just talk about this for a moment, because now I want to go in order. Let's go in order. I said I'd talk about the IYR, need to find it. There it is. So the IYR, I did a whole thing about it here. And what I was saying is the little doji candle of a peak E on Thursday with a gap down on Friday, and not a good candle, testing the 14-speed moving average in the daily. The weekly in a leg C still very bullish, bumping up against the Chapman Wave inside track repellent zone. Yep, you can see it. I'm looking at the Tiger TV, but the monthly broke out in a leg B, very positive, but the 120-minute chart showed a peak D, and that there should be a follow-through pullback, and that makes it very important. See, here we are. Here's the candle today down 21 cents, 89.51. We're only three hours into the opening of the day, so I can't even, in the week, I can't even talk about it as if it's a done deal, but it is suggesting, based on the magnitude turning down, and the stochastic still strong at 84%, but turning down, and the blue unbalanced volume pulling back that maybe shorter term, that whole thing with the yields, is just about to hit a little bit of a speed bump, just a little bit of a speed bump. TNX, here it is, the TNX, the 10-year, nothing to see here still very weak, but it needs a 20.23, 2.023. It needs to get to the 21, 2.1 level this week to say, no, I'm tired of going down. I want a little bit of a breathe down. Coming up for air, that's all. And now let's go to Crudall. Crudall is down 36 cents, had a very nice pop from the low that was made around about the 51 area, it's trading at 57.07. Down 36, the weekly chart says, yeah, it's in a trading band, nothing to see here, and the monthly chart says whoops, there's that H-path in the lower case, H. Let's see how Crudall holds, and the IYT had a lot of questions about the IYT, since I showed it in my newsletter over the weekend. Where is it? It's right here. It's right here. IYT, and what I discussed was that the IYT had made a leg D and a possible peak D in the dating, but a very tiny, quick A, B, C, D, way below the highs that were made just at the 200 level back in April. And it could actually start to pull back, and here is the IYT transports. Peak D pulls back today. I'll be right back, Basil Chapman. Tiger conditions are 1,000, 47. The S&P's only have one. I'll be right back. 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 on the top side before declining sharply. Later, Basil found that computer software which included the standard market technical indicators enhanced the degree of accuracy in 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 TFNN.com. Cancel at any time during that trial and pay absolutely nothing. Get your two-week free trial to Basil's newsletter of the opening call today by visiting TFNN.com. 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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 Chart 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. Hi, folks. I've got a ton of questions. Let me deal with this right now because it's part of the panoply of things I want to go through today. And then at the end of the show, I'll do some other things, and then tomorrow we'll get back to the nitty-gritties of bringing in individual stocks. Good day to you, sir. Good day. Could you please give me your analysis on Bitcoin on the weekly chart? Thank you. Now, I have no choice right now. I'm going to the grayscale Bitcoin trust. I'm not sure, Paul, if this is what you were looking at, but if you don't mind, I'm going to look at this. I'll have to do a little work. If I have a chance, I'll go to the actual Bitcoin. But other than evening hours, this is during the day that Bitcoin has a fund trade, and this is what I'm looking at. I don't think this is a leg E in the dating. I think this is a brand new leg C. It broke out above 1258. The height was made back in May, and it's very strong. It's had two big gaps. Actually, this could be three gaps to the upside, but the MACD and stochastic are really strong. I think it will go to a D. With that said, the way the weekly chart has just spiraled, I mean, it was just three months ago, there's things trading in the four area, and now it's at 15.28. This is fabulous action, I must say. And I was waiting for that. I did see the pullback from the peak near 1258 down to 9.03, but I was so busy with other things that I kind of skipped over this although that was the perfect place where the risk reward was what I've been talking about since it's an overnight, a non-trading vehicle. So Bitcoin would trade, and you wake up the next morning, it could be anywhere, and you're stuck with this thing trading at 15.29, and Bitcoin pulls back 1500 bucks or the other way around, and you're stuck in the wrong position. If you're in the right position and you're holding long, what I'm going to say is, I suspect that 15.29, there's a lot of resistance that I can see in the 16s. A lot of resistance doesn't mean to say, oh man, it's going to 16 and then it's going to plunge. What I am saying is that I think a chunk of the move up has been done. I think it is going to go higher, but I would not be surprised if it bumps into resistance and it takes a little bit of a time out, but with that said, the way it's acting with the monthly, starting to just cross over with the week to go, we'll see if it crosses positive in the MACD, but the weekly chart is really strong. I would prefer if the stochastic was at 88 to 92 rather than 84%, and that's another reason why I think there's going to be some kind of a digestive phase. So Paul, if you're long, I would say, have a little patience, but as from 1532, where it is right now, if you're all long, I'm not going to get that question because you're a little bit nervous because of the speed that it's rallied with, just as what I'm going to say to you, before I left on vacation, I had a caller on Visa, and I said Visa, and he called because he's at a good position and it's made a fantastic gains, and he wanted to know what to do. And I said, the way I'm looking at this is if you have to take it off because you're a little nervous, take off something now, and it's going higher, it's the same sort of thing. The technicals in GBTC are so strong at this particular moment that I think it's just a matter of time, it'll need a little bit of a pullback, but I think it's going to go higher. But in the 1555 to 1635, maybe 1657-ish area, I think that's where it's going to bump into resistance. If you haven't got a position and you're looking what to do, oh, if you bought it right now at 1535, I think you could make some money, but this is now short-term trading, it's something completely different. I don't even want to go into the 120-minute chart and then just say, even that's a little bit toppy. Now, if you give me a moment, I'm going to go to GBTC in my Chapman Wave Automated resistance. It just spiraled through 1383 the resistance, and now you've got a ton in the 10-minute between 1536, 1585, and 1612, nothing in the 120-minute chart. So that kind of confirms for me that we're getting real close to some kind of a resistance level. So if you want to trade on a short-term basis, yeah, if you want to get a little bit, just a little trading position at 1531 right now, I would put in a 40-cent stock, but as soon as it starts to climb, I would raise that, at least part of the position I'd raise to stop. I like it. The answer is, I think it's going higher. My suspicion is in the low 16s, it's going to bump into quite a bit of resistance and then we'll look at it again and please email me again and ask the same question in about three days' time. Let's look at it. So the answer is, yes, I think it's going higher. How high? It's really difficult to say. It's had enough gaps to say it should be running out of steam. Watch for a doji candle in the next three sessions that gaps down and that says, okay, just for the moment, we're having a bit of a breather. Hope that helps you and good eye. I think you're right in looking at this. If it's been on your radar, keep it on your radar and if you're on the position, just use money management right now. I would keep a core position and have a trading position on the next. If it goes to a leg D, raise that trading position and stop. Now the next question I had is one of the things I'd said earlier is that we were looking at the cannabis section as having had a great move and for a while now it's just been consolidating and it's really been consolidating. One by one, the stocks have been consolidating and that says to me that something else has taken its place and what I'd said is, I think Bitcoin has taken its opportunity this time to invert and sort to the upside while the MJ that's the cannabis ETF demonstrates that that sector is taking a breather. Now the next question I had is Yes. The questions I had that I want to get to in a moment, I just wanted to show you something. In the TLT you see the way the price moved in the daily chart above the 9 the green line, 9 period exponential moving average and for the very first time on Friday it went under it and it actually almost touched the black line 131.37 the 14 period moving average so just keep that in mind. If there is a close below 131.37 let's call it 131.05 let's just say it goes under 131 in the next two sessions that's going to be really important what does the market do as bonds pull back will money go back into the stock market and away from bonds, what's going to happen here and there's a real big divergence now that we're looking at between the different sectors so that's what we have to keep in mind as well there's a good opportunity I wanted to mention it, I did mention it and then I took it out to my newsletter, I'll do it tomorrow talking about the rotation, I actually mentioned the rotation but I didn't use the word rotation and we'll see what happens with the IYR look at that, down just 16 cents but it is pulling back a little bit the IYT which I think is really important because I want to see and the question in the den was will you show the IYT, my answer is I not for my subscribers on a personal basis I probably would say you know what I'd have a look at this and I might buy a put it it's a 184 if the IYT has an option, a put option at 185 that is say so that'll be the whole of July right, I mean whole of June into early July if it has a 185 I wouldn't even go for the one yeah for 185 put for July I'd buy that, I'd rather be having I'd rather pay a little premium for an in the money put than to actually short anything can happen with crude oil and all that but yes I would look at it and I'm anticipating 182 is going to be hit in the next week and that's the way you could use it I'll be right back, Basel Chapman, Tiger Conditions Hour Tiles up 47 S&Ps now only up 0.67 I'll be right back you can build and hold for 10 years and pay no tax on the profits which makes these lots valuable the investment is anywhere from 30,000 to 75,000 the interest paid is 7% yearly paid on a monthly basis according to bankrate.com the best rate for a four-year CD in the country as of February 20th is 3.1% a $50,000 investment at a normal four-year CD rate of 3.1% would give 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such as traders and active investors Distributor Four Side Fund Services, LLC Watch Tiger TV for the latest market information Hi folks, so we're back $1.40 USB is up 0.19 What we're looking at is the XLF I'm kind of impressed that it's held this well but it really hasn't done what I would like I'd like to see instead of $0.2717 right now down $0.04 I'd like to see the $0.2768 level or a little higher just breaking out of this chapter we have inside track repellent zone monthly charts the same sort of thing that long term downtrend aligned from the 30.33 January 2018 high then again to the high that was made back in September the lower high and then the two series of lower highs in the last two months you need to get there and I'm impressed with the rates so low it's still held quite well with the financial SB quite a fund needs to really push higher and needs to do it fairly soon so far it's holding I think pretty okay a couple of things wheat dust wheat is trading really nicely 10.5 at 536.5 soybeans continuous contract made a peak right at the 200 period moving average that makes the 200 period moving average of 913 a magnet line says it can go up it can go down it's going to hug that line for a little while longer after that peak D magnet stochastic all very strong it's up six and a half I like it at 909 and con con to about con with the Boston accent the the winner that changed his name got opened over the weekend huge success and they've really gone out they got a 20 million Coons Jeff Coons that was a Popeye a Popeye I've got friends who went over and invited to go Friday night someone who's very very involved there that invited them and I remember telling the person who's very involved I met them a couple of times and was like three years ago I said you know what it's just going to be money the city wants the wants the profits so you're going to have to just count out to everything they say they're going to want to park you know one of this you know what roads are going to want this and right at the very end they're going to say they'll hold you up because that's the way it is and yeah we've been around a long time seeing how the commission works and that's exactly what happened with the last payment I think it was like 32 billion just to even be able to open the door and of course they will make it up fairly quickly I think but it did cost them the overran by about 60 or 80 percent of the budget so it's going to be very interesting this is funny it's just nothing that's ever appealed to me that I tend to do stock market is challenging enough so we'll see what happens so that's I said corn because corn or the Boston accent has an H in it just like Harvard has an H in it two H's actually so corn is trading up three and a half at 445 and three quarters it should make a leg D that's the reason why we are along the fund in the grains and 460 I'd say 465 is a nice breakout and that once again the 200 moving average in the weekly it has to get over 462 to start either continue leg B or to start a new leg C next week but that's the way it's going to be it must not chest the 416 area again so far that's good did I do crude oil I think I said crude oil was down a little bit nice balance treating it as a balance I happen to like the transports and the and the crude oil and the Dow the industry goes together but they're not now a lot of divergences I'm respecting those divergences KBE question in the den KBE is the regionals KBE coming up is 4223 down 17 it is not as strong as the XLF I suspect that the XLF will be the big breakout first and then the KRE will follow trading at 4223 down 17 cents needs to get to the 4380 area actually needs to get a 44 and then we have a way better move at 44 because it's over the 200 moving average the daily moving average what else did I want to do oh high grade copper high grade copper that's just kind of stuck at the low and it's not telling me anything would I did for subscribers I haven't shown the wood chart for a little while because I've been so busy with other things but it's come off the bottom it's not a great pattern this is the ice shares timber and forest GTF they kind of go together with the high grade copper and with these international economic barometers and so far they're saying yeah a little bit of a balance but the bigger picture is not that great what am I missing here I think I've got almost everything that I wanted I had there was a question oh look at this PALL this is Palladium what a nice move leg E 145.34 up 3.23 up 2.28 percent today had a low just recently of 120.01 on the 9th of May goes from 120 to 145 just a few weeks hey oh well more than a few weeks but still what a nice move but it needs Aberdeen physical Palladium trading at 145.34 it needs to get to test 149s that was the high in March of 2019 for a cup formation the Magdees trying to turn positive I suspect that Palladium is going to that 153 did I say it was 152.97 area over the next couple of weeks very nice oh call awaiting Mark in Denver how are you Mark good how are you I'm very well thank you okay we talked I think last week about the steel socks and I've still got a position in US steel around 1370 ish and the positioning case around 205 and and I've got my top and right at those entry prices but I was wondering where your top okay so I marked you kind of a little bit fading in and out but as I recall you got in at 1390 or 14 something right at 1313.70 like three that's it right 1373 and it's at 1444 and had a really nice run all the way to 15.68 this peak C decline is a little disappointing in the in the power that has had to the downside but it's still above the nine-period moving average are we looking at the steels over the weekend it might I still think it might be a little early we're going to have to wait for a little bit more news that says that there will be some positives in steel and specifically for US expert I like the fact that it's gone I mean $11.67 at the low at the end of May going to the high 15s I mean that is a huge percentage move so on a percentage basis that's fantastic on a percentage basis going from the higher 47.64 in March of 2018 down to 11 is a little bit of a problem so the monthly chart weekly chart just need a lot of work but I'm starting to see at least some positive signs now I just for a minute I'm going to generate any news that could help to the pure technicals so Mark this is what I'm looking at in this particular move you're in the 30s 1370s I would not want to see you take a loss on this position I would much rather you say I'm going to make a 10 cent profit no matter what happens that'll be my stop on on even the core position and I'll tell you why from this peak see even though the MACD is good stochastic has pulled back to 74% instead of being over 80 if it starts to trade under the 14 period moving average and it goes under $14.10 there's a real good chance it's going to have to test the low that was made back on the 17th of June and that's down to the 1332 area at least get to the lower area and if it broke that support of the 14 period moving average I think you're going to have more opportunity to have another opportunity to get in so I can you hold on because it's something that's really important in the weekly that I just want to say would be a big positive if it happens this week yeah I can hold on okay good okay Mark's holding on down to 48 S&P's up one we'll be right back talking US Steel X-Train your 1444 down 24 cents and it's interesting and it's worth talking about I'm certain you are or strive to be one 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 Mastery Probability and for the 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target was in the 15-22 level and it had to get there by by the 20th of June and it got there on the 19th of June it went above it so now it's accomplished everything I wanted I'm going to say to you if I'm it's a pity about this red candle today if it was just a little bit green I'd say oh I that's that's really nice action considering the markets kind of shaky but I am going to say to you I'd say to you make sure you make make at least 10 cents on it I would actually raise that stop the 14 period moving average is at 14-20 just maybe 14-06 somewhere around there I maybe say take a little bit off and maybe 13-90 is the stop that I would use just for the moment but if you can let's talk again Wednesday let's skip tomorrow and do Wednesday see where it is so far I think it has enough strength that if it holds the 14s and it's able even just a flicker even for one second to get to 14.88 it just has to touch it once in the next two days that'll be really good action I look to the SLX the steel ETF it's also did exactly what I was talking about it went to the left side no it didn't go to the 39-17 level it went to peak C at 38.90 and it's pulling back a little bit it's still looking quite good I think it's going to be okay unless the market sells off and it includes U.S. steel but at this point U.S. steel seems to be holding quite nicely do you have a chance to look at AK steel real quick yep I'm sorry what do you have a chance to look at AK steel really quickly it's still doing the break it's doing exactly the same thing it didn't get to 242 which was my target about four days ago but it is holding at 220 I like it I think it's holding very nicely but it's in an area yeah steel we can hear anything at any point I do like it if you are in it I'd say just watch the 210 area 209 I take a little bit off your fitness 209 but so far it's holding pretty well and the week I'll be back check out my opening call some real nice trades I'll be back tomorrow have a good day