 The following is a presentation of TFNN. Trade what you see with Larry Pesavento. Call now toll free at 1-877-927-6648 or internationally at 727-873-7618. Now Larry Pesavento. Okay, looking good. Billy Ray feeling good, Louis. We're going to do things a little bit differently here for this part of the show. And I've put a chart up of July soybeans, folks. This is pretty much up to date. As you can see here, we are forming a beautiful garlic pattern down here. The 78% level down about another 25 or 30 cents. Folks, this was a life changing pattern for me. I mentioned it many times, but since this is my show and I think it's important, I'm going to mention it again. After I'd lost all my money, I had to lose all my money. I started with $30,000. I ran it up to $1.2 million over a period of about four years. And I spent a lot of money on the way out, folks. I mean, I really did. I had a couple of annuities, insurance policies, put education away. So I still had a lot of... I had assets. I just didn't have a lot of trading capital because I figured out a way to lose that just by adding the losers on the way down. But after I'd lost it, went debit, then I had to study and I got the book. I had the book since 1970, the Gartley book that Don Mack had given me. But he always said, look at pages 200 to 250. And so I studied those pages and saw those patterns. I didn't know... I knew a tiny bit about Fibonacci that John Hill had told me back in. Hold on, folks, just a second here. Something is beeping and I want to make sure it's what I think it is. Hold on, just a second here. Oh, stop the music just a second. Larry, just a second. Okay, hold on. Okay, there we got that covered. Okay, anyway, I knew that this pattern on page 222 of Gartley's book was really good. Okay? So I figured I went back and I started to look at just the ABCD part of it. I knew a little bit of Fibonacci, but not enough to... Remember, prectored didn't come out till 77, so this was long before that. John Hill talked to me about Fibonacci in 1970 and I knew 618. But that's all I knew. I didn't know 382. I didn't know 1618. I didn't know 786. I didn't know 127. You know, I was an ABCD. That's all I did. But I saw that pattern and my two of my mentors, which was Dave Nelson and Oscar McClure, professional soybean traders, said you want to buy July soybean oil and sell December soybean oil. And you can put the trade on for $150. That's all the margin was. And so I started putting those on and I put them on. And remember, interest rates at that time were starting to rise. And so carrying charges were starting to increase. So if you put that spread on early, you got the value because it would raise just because of the price of the interest rates. So I put them on at 150 all the way out to about $300 over a period of about four or five months based on this type of pattern that was right here. And I stayed with those for all the way through. I started doing it in January and all the way through March. After March, they started to move up a little bit. And then it was then from there they went 18 times is where it went from from what you put in other words, if you put up 150 bucks, you made 18 times your money. And that only took six months because we got out of everything in June of 1976. And then in August of 1976, I went to work for Drexel Burnham. And based on that particular pattern, because I had told so many people to do it that opened accounts at Conti Commodity. They had there was over 1200 contracts of the July December soybean oil. Now I didn't I was not this was remember folks, this was before the CFTC. Okay, this was before the NFA. And you could do you could put as many position on they didn't have limits on positions until 75. So I had late 75. So I had these positions on but I was not in control of them. Each one of them I just told them to buy it put it on and I'll tell you when to sell it. I didn't have any control. But then they started to go up and up and up and they got it. We got out right on the high day just got lucky on that one. But this is the type of situation that we have going right now in this particular pattern folks. So I'm going to be taught if you belong to the 24 seven I'd like for you to join but I'm going to spend a lot of time with this. I'm also asking Rich Anderson and John Jamison to help me with some spread opportunities because you can put a spread on the margin on beans is like $2,800. But if you spread the July to November you cut your your margin down by 75%. You can put it on for 25% and still limit your risk to 25%. And if you're only risking 10 cents I mean that's that's almost nothing. So that's what I'm preparing to do as we go through this. And this is the time of the year too because this is the growing season. There about 50% planted in corn and about 60% planted in beans and that stuff is not going to be ready to the fall in all these years that I've been trading. There's never been a year that we didn't have one or two you know what we call weather scares as we go through. But if you're also interested in corn which is our largest crop that we have. Let's get this up and show you right here. This is the December corn which is new crop. July is the old crop. You can see here this is where we are right there is that number that we want to be buying at which is 492. Now at that point you're going to be a farmer because you've got a perfect ABCD coming in at a 61% retracement. But instead of having to put a half a million dollars in the capital and having a tractor and leasing the land and buying fertilizer and seed and worrying about the crops all you got to do is to put a stop in. You could buy it. You'll be a farmer at 492 and you won't be a farmer at 482. So you're going to risk $500 not 500,000. That's about what it costs to run a farm. So you're going to risk a 500 bucks. And that's what the beauty of these futures markets is it allows you to become a farmer for a short period of time. Maybe it's 10 minutes. It might be three months. It might be a year. You don't know but at least you can get in and out. Whatever you want and that's the real key to what we're looking at. Now we had a big rally in corn yesterday and everybody said oh wow this is it. It's already on its way. Well I sent out a video to last night saying folks hold your horses. This is all that happened yesterday. And it was basically an oversold market. You can see there was the gap down and what did it do? It rallied right up to the 78% level. And now you can see you have a perfect A, B, C, D coming down here at around 493. That's less than 10 cents from where we are right now boys and girls. If you can't buy corn here at 493 find another radio show to listen to because this is a perfect pattern. It's perfect on the 15 minute. It's perfect on the daily. It's perfect on the weekly. The risk is there. The time of the year is right. The seasonality is right. The price is right. The risk is right. Everything is right. Does that mean it's going to work? Heck no. And those are the kind that you have to be the most, how would I say it, the most scared of. And so that's why we're watching these things unfold like we are. But this is a perfect three drive to a bottom pattern should we get there. And we're getting close each night. I do the video. We will be looking at the beans. We'll be looking at the corn. We'll be looking at the soybean oil. Those are the ones that wheat is a little different because it's had some big moves 60 cents up 60 cents down. But it does not have at least not now it doesn't. It did when it had the ABCD down at 603. But now after rallying up to 670 the pattern is different. The risk is different. So we want a pattern that lines up exactly with what we think is going to happen both on the shorter term time frame. And this would answer Mike's question that called in from Niagara Falls is that this is nothing more than a 15 minute chart. I could do a two minute chart. It would look much different than this one. Tonsies, 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 and to start your 30 day Tiger Forex report subscription today, visit the front page of TFNN.com. TFNN Educating Investors. They have hosted for more than 20 years with live programming hosted by a variety of professional traders during market hours. And now they are expanding their reach with the Tiger's Den. Available to all tigers and tigers for just one dollar for the year. There's no catch or added costs when you join our community of traders. In the Tiger's Den, you can look over the shoulders of Tom O'Brien and the other TFNN hosts while they analyze charts during their live Tiger TV programs and join an interactive trading community with hundreds of members exchanging ideas. Interact with other tigers and tigers as they share trading ideas, news analysis and discuss the market action all trading day, even at night and on the weekends. The Tiger's Den at Discord is accessible on mobile or tablets as well. So it's always at your reach. To sign up today and become a part of this educational community of traders, just visit the front page of TFNN.com. Are you looking for a way to consistently add winning trades to your portfolio? Tom O'Brien is here to help. Tom O'Brien has been successfully trading markets for over 30 years. A frequent contributor to TD Ameritrade Network and CNBC, Tom O'Brien founded TFNN over 20 years ago to help educate investors just like you. Tom's Daily Market Newsletter, Market Insights is published every morning when the market's open to give you the competitive informational edge you need to succeed. These newsletters are packed full of Tom's advanced technical analysis and are geared to deliver comprehensive strategies for a successful portfolio. Get Tom O'Brien's newsletter, Market Insights, today and try all of our products and newsletters 30 days risk-free with our money back guarantee at TFNN.com. Educating investors free at 1-877-927-6648 internationally at 727-873-7618. Okay, we're back folks. And I posted the chart of the largest bank in the United States, Bank of America. I know there's a lot of folks out here. Are you calling me? Can you hear me? Yes, I can hear you. Well, what's wrong? Something's wrong. Oh, I think we've lost internet. Oh, let me check. Hold on just a minute. Yep, I still got internet. Oh, okay. Billy Ray is in the house. Sorry, boys and girls. This is the Bank of America chart. If you can find something bullish about this, folks, please let me know. Look at this. Last rally we had was a 3-8-2 rally. And it's not rallying at all. There's no nobody really wants to own this stock. I know it's got lots of problems. And you can see the problems. Just go back a year. And this has got, and whether it's going to be serious enough to call, now we're not bank, well, time out, time out. Bank of America is not going to go out of business, boys and girls. At least I don't think so. All I'm trying to show you is that investors are being very reluctant to buy Bank of America. This is a company that's in the news all the time. Brian Monaghand, a very personable young man, is out there. And, you know, they have a lot of deposits and a lot of people, and they have a lot of insurance behind it. The thing you got to ask yourself is, why isn't the stock rallying? That's my point here. And so just keep in mind, if you're going to buy something, you buy something that looks a little bit, you know, better than Bank of America as far as a stock. That's all I'm trying to try and to review. Now, I want to go over the gold market one more time, because it's very important. We're in an area where we're getting ready to think at least a major bottom is happening. And we did it on the earlier show, and I want to do it again here. Here is the four-hour chart that we've been looking at for quite some time. There was your high up here, 2084. You broke 100 bucks. You rallied back to the 61% retracement of this high, 78% of this high. And then the real key was here just a few days ago when we made the 382 retracement. And we stayed there for two days, folks, at 2030, and now we've broken $40 today. And it looks like we're heading down. Did you see this little red box? That little red box is the important one. That comes in at 1977. So you want to be a buyer of gold there. If you believe in ABCD, you're going to have an A, B, C, D forming. And this is going to be over a 15-day period. And then you're going to have another one right here, A, B, C, D. So 1974 is what you want to be looking at in the gold market. However, we have to put a caveat in here, because if you look at the long-term chart, going back to November, you're going to see that there is a possibility that we could make a 382 of that move, and that would take you here to 1905. But before it gets there, it's going to have some pretty strong support at 1977 to 1974, I would assume. And remember, assume means you make an A out of you and a me. And you don't want to do that. Just put your stop in and pay your dues, and then you're going to be just fine. Okay, so let's remember that. Very, very important. Also, on a short-term note, I wanted to show you what happens during the day when you have these real strong cascading markets that we call them Tom Hougard markets, where you can see the 135 here. There's a four-minute chart on gold. There's your first 382 retracement. There's your second 382 retracement. There's your third 382 retracement, and it still has not had one since that time. This has been a pretty big drop from 2015. We dropped $23 today. That takes us to 93. Another $20, folks, and guess where we're going to be? We're going to be at 20, excuse me, 1973, 1974. So pay attention. If you get your video tonight, we're going to go over that and show where we think we're going to be here, and that's what we're trying to do is to find a good place to be a buyer of gold. Whether this will be a major bottom, one does not know, but all we know is that there's still that outstanding possibility of 1905 in the gold. That's why it's so very important. Another stock that we've been watching today that was in the news every minute because of Michael Burry of the Great Short was talking about it, and that is the stock of NVIDIA. It almost made the exact 1.618 expansion up here a little while ago, folks. I updated this an hour, it made me two hours ago, but this was the opening this morning, and that's when the NASDAQ exploded. It had been down on the day, and it went all the way up to this level right here. Now remember, this is just one of the stocks in the NASDAQ, and there's only about 20 of them or less that control the whole hundred, so that's why it's very, very important. I've shown this before, but I've got to show it again. By the way, Jeff Eudes will be our guest here for the second half to go through those wonderful charts that he gave us before, but take a look at this, folks. This is absolutely a mind-boggling statistic, in my opinion. Here it is. It comes from the Internet, and I had somebody check it, but by golly, the price of Apple at 172 is worth more than all the stocks in the Russell 2000. Can you? I mean, to me, that's a statistic that just absolutely blows me away. I'm not easily startled, but that one really startles me. The fact that it's just been that incredible. Everybody owns it. It's a great product. I own a Nano, but I don't own an Apple computer or an Apple Watch or anything like that, but by golly, I mean, this is really a statistic. In other words, every stock in the Russell doesn't add up to Apple. But shut the front door and raise the rent. Oh, my gosh. To me, that is just a totally mind-boggling one. I'm going to end the show here with the Hawks, because this is one that we've been following. Don't trade Hawks very much, but I want to show you the pattern, because it's that same little three-drive that we look at. And as you can see, we came down and made the 127, and we've had a pretty good rally in here. Now, I'm assuming what's going to happen is I'm going to come down and match this high up here and then make one further bottom down in here. That's what my assumption is going to be here, because I'm just looking at the seasonality that the usually Hawks will bottom sometime in late spring, i.e. June or early July. So I'm going to see what this rally is, and then we'll see where it is. Look at this beautiful retracement here. Right on the money, 618. Come up here, 618. ABCD to the downside. That's what you're looking for. ABCD is where you want to be. So make sure you keep those in mind as you look at those patterns unfold every day. If you have any questions, folks, it's 877-927-6648. And stay tuned for Jeff Hughes of Alpha Insights. Always great information. We'll be right back. 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Get Tom O'Brien's newsletter, Market Insights, today and try all of our products and newsletters 30 days risk-free with our Money Back Guarantee at TFNN.com TFNN Educating Investors Jeff Hughes of Alpha Insights. Jeff, nice to have you back. It's great to be here, Larry. I'm really glad you're back for a second section because I love to see these types of charts that you have showing resistance, support and distribution and stuff because these are things that I don't do. You know, I'm basically an ABCD. I'm a one-trick pony. It's a good pony. It's not secretariat and it's not man-of-war, but it's a good pony. Anyway, tell us on this first one here about the key resistance levels that we're seeing here on some of these things. Yeah, as you know, NASDAQ 100 has been the leadership within this market. All the other indexes have really been kind of, you know, also rands, if you will. I think what investors need to be cognizant of is how narrow this market is. We're talking about the way in the bottom frame here that only about 38% of NASDAQ stocks are even trading above their 50-day moving average. That number's closer to 30% if we're talking about the 200-day moving average. And the problem I see right now is that the NASDAQ 100 is rallying right into a key resistance zone, which is kind of the confluence of three points. The 100-week simple moving average and the 50% retracement, which, as you know, is a very key reference point. And oftentimes, is a big enough resistance by itself to cause a reversal. But I think when you combine it with these other two key resistance points, it becomes even more important. And I think this narrow leadership is about to fail. And I think those who have been successful at this point, and I think the answer to that question is to take some profit. Well, I hope they pay attention. This next one is one of my favorites. They're all my favorites, but this is my second favorite, actually my first favorite, the second one's coming up. But I never see these, Jeff. So you're the only one that hold on. This is the second I got to get this separate. There it is. This is your broad market confirmation. It's a broad market. It's a broad market. You ought to pay attention to this because it shows you that there's only a few stocks that are doing good. So fire away, my friend. Yeah. Yeah. Yeah. So you said broad market. It's a broad market non confirmation that in fact you use the term distribution earlier. And I think that sums it up perfectly. What you can see when you look at the Wilshire 5000, the Dow Jones composite, which includes the Dow industrials, transportation and utilities is what I would describe as distribution. You've been seeing that that lower high put in place, which is, you know, basically characteristic of distribution, even as the NASDAQ index, the NASDAQ 100 has made this new recovery high today and it's been unconfirmed by obviously the Dow which are both down sharply today. But, you know, all broad market just is not confirming that and that is a bearish precondition to the market moving lower. And I think that it is giving people a signal right now and right here that we're at a decision point that decision point is probably indicative of a trend reversal to the downside. I have a question from a listener here in Arizona, in Tucson, Arizona. He's raising his hand right now and that is of the NASDAQ stocks. I know there's Apple and Nvidia and Microsoft and Meta. What are the other six or seven that are really big ones, Jeff? Do you know offhand? Yeah, I do. So there's something called the New York FANG index and that is made up of yeah, that's made up of Apple, Microsoft, Google, Amazon, Tesla, Meta, which used to be Facebook, Nvidia also advanced micro devices, Snowflake and Netflix. So those are the 10 constituents of that FANG index and those are I think collectively the 10 or at least 10 of the top 15 largest stocks in the NASDAQ 100. In fact the top 7 of those names represent over 51% of the NASDAQ 100 market cap. Wow, awesome. That's just great information to have. Okay, we've got another one coming up here. Just bear with me here one second and this is the one you explained to me before that makes great sense and there's another one that is absolutely scary to me and this is your New High, 52 week highs to 52 week lows. That's a little scary to me. Well, you know, here's the thing if we're in a new bull market it should be attended by more new highs than new lows and what we're looking at the black line represents the spread, the difference between new highs minus new lows and if we take that every single day and we say the number of new highs minus the number of new lows and then add them all together to get a cumulative number it should be going up right but in fact we made a new 52 week low yesterday in terms of net new highs and my sense is that this is completely inconsistent with the notion that we're in a new developing bull market. I think what we've seen is nothing more than a counter trend advance that is in the peaking stages whether it peaks today tomorrow or next week is irrelevant. It is near its end and when it ends it will end badly and we should expect a sharp decline from the major averages. Okay and the next one we're going to look at is the skew index and you know I Jeff I've been doing this business 62 years and I this is the first time I've ever heard of a skew index I mean that shows you how isolated I am here in the desert. I've never even seen it on I've never I've never I never really have in fact I was saying to I said to Rich Annis this morning what should I say he says tell him the truth he says you only do one thing well and that's all you need to do so please explain to me what this is. Yeah I'll try to stay out of the deep grass in this one I think I got a little bit too far in the weeds last time but you know at the end of the day there's two ways to kind of look at volatility there's the VIX which is in the lower panel and then there's the skew index in the upper panel and the VIX tends to kind of look at implied volatility as a whole right and what the skew does is it looks at the slope of the curve of implied volatility and what you really need to know is that when the skew index is going up that means that implied volatility is got a steeper slope to it and and so what at the end of the day what you really want to understand is that you know when this thing starts closer toward the 145 to 150 area you've got about a 15% probability of getting a fat tail event in other words a you know it's measuring tail risk so the higher it goes the greater the probability of getting a left tail sort of event and that means a two standard deviation or greater decline in market volatility or I should say decline in performance of the S&P 500 driven by market volatility but what's really interesting is you can get a high skew with the VIX being either low or high but when the VIX is very compressed the way it is relative to its past year's history and the skew index is very high relative to its history then that tends to indicate that the probability of a black swan event is very very elevated wow you know what they call a group of black swans don't you it's called a bank that's a real name that's what it's called it's not called a herd it's a bank it will be right back with Jeff Hughes about the insights sharpening your skills as an investor is like getting better at playing a musical instrument you have to practice sure but you also need excellent instruction from experts at TFNN you'll get advice and guidance from the authority in technical market analysis and it's not just dry tedious text either TFNN airs live financial content streamed live on TFNN.com 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read carefully before investing an investment in the funds is subject to risk including the possible loss of principal the funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor four side fund services LLC this program is brought to you by Vista Gold traded on the NYSE American and TSX under the symbol VGZ folks with Jeff Hughes of alpha insights is very very set up on the Elliott wave so please continue my friend yeah absolutely Larry so you know as you know we we use Elliott wave it's kind of our primary model for analyzing the market and you know we call the market the S&P 500 we spend most of our time trying to look at this index because that's everybody's benchmark your professional money manager well you know what we saw after the decline into the June low last year is a rally into August 16th high and that counted by our model as primary wave two of a five wave decline now the first of decline for primary wave three came in October October 13th marked the low of that and we call that intermediate wave one down the countertrend advance that followed top on February second and we have yet to take that level out that was intermediate wave two of primary wave three down since that time we've seen another down up five waves down into the March 13th low mark the end of minor wave one down and then we got a three wave countertrend advance into the May first high which fell short of the February 2nd high that counts as minor wave two and since that time we've seen a very small degree five wave move to the downside that's minute wave one down and a rally into the May 10th high that was minute wave two as long as we hold below that February 2nd high this count is good and if we break below 4039 it will confirm the count and set us up for a third wave decline at four degrees of trend basically I have not seen a setup this bearish since honestly I think 2007-2008 timeframe right before the great financial crisis kicked in and I'm not suggesting that that's the end result here but I am suggesting that we are going to lower lows we should take out the October 13th low with this next decline and honestly by our work we would not be surprised to see a third wave decline carry prices down into the mid 2000s on the S&P 500 in fact we spoke with our friend Doug Ramsey at the Luthold group a couple days back and he said by work fair value on the S&P 500 is about 2900 so if we got down into kind of this 2750 which is our minimum expectation for this decline it would be right in line with the S&P's fair value and so we don't think that there's too much you know to question about that okay Jeff I've changed a little bit here I put your information on your website www jwh investments yeah jwhinvestment.com gwhinvestment.com yeah that's how you find our website exactly okay and you're on Twitter we are on Twitter at alpha underscore insights and then we also publish a newsletter that's available on substack at hugeinsights.substack.com okay what is substack I'd never heard of that before I didn't know what that what that is what is that well it's basically a newsletter publication site so a lot of financial authors and you know various authors publish their work on substack it's a great distribution platform wow that's pretty cool I posted the part about your monthly newsletter Jeff tell the folks how have you done the first five months four months of the year are you holding your own what has been your results well we are holding our own you know I'll say through the end of the first quarter about three four percent for our our trading account right which was good because there just weren't a lot of break out we're breakout traders so we didn't see a lot of breakouts to trade unfortunately but as of yesterday's close we're up about five percent year to date so we're beating the S&P 500 slightly and we're beating the S&P or the broad market we'll share five thousand by about five hundred basis points the wheel share is not positive for the year so okay that's really good well listen we're going to have you on again soon but please keep these charts coming because I certainly enjoy them and I know the folks here at TFNN do because I get a lot of feedback that gee we didn't realize there were these kinds of charts available I know there's thousands of them but you seem to pick the ones that really get to the heart of what the market's doing so that my hats off to you on that one my friend you do a great job well thank you you know if you like those some types of charts you can find about twenty five to thirty of them in my monthly newsletter every month the next issue is going to be published on June 3rd. Wow very good well listen thanks for joining us and I hope the folks follow through and get that newsletter we're twelve dollars a month that's the cost of french fries and a drink over in switzerland out of McDonald's you can't even get a Big Mac for that anymore Big Mac is eighteen dollars oh my goodness hey listen thanks for joining us Jeff we really do appreciate it you're welcome great to be here Larry have a great wine okay okay folks we'll be back here I want to remind ourselves here that we want to be watching the the corn especially this July corn I'm going to post it again let's try it again Larry the December corn which is the new crop I think this is may not work but boy this is everything that you you could ask for all the things are set up to get to four ninety three and be a buy there four ninety three with a stop at four eighty two but there's got to be a lot of work to do tonight to figure out you know the you got to go down to the fifteen minute chart you've got to go to the four hour chart to make sure you're not missing anything but on this daily this happens weekly chart you can see that there's a giant seven eight six there and if you go down to the different charts like the four hour and then the one hour and then the fifteen minute you'll see that they all have a big big flashing green light there at four ninety three per bushel remember corn was just seven dollars a bushel last year there was eight fifty a bushel a few years ago so corn at five dollars a bushel is by any stretching imagination a buy and folks were only one season away from a famine and I've never gone through a year of trading where we don't have at least one two or three crop scares or some things like Ukraine or whatever there's always something out there that'll make the markets move so this is the time you want to be buying there's a strong season on that so sign up for the twenty four seven newsletter and you'll get those each day I do video as we approach these levels to be watching where they should be going and that's what we're looking at as we start to see these things unfold I hope that gives you some idea of the type of work that we do here now I do a lot of short-term work because that's where you can you can take your risk down to a minute level and that's that's really what you're what you're trying to do each day it's new that remember we've gone through the gold we've got we talked about silver you know silver's broken below that magical twenty three ninety one level that means it's going to go lower we have to do work on that tonight also so all these things will be lining up here pretty soon we got a break coming up I believe and when we get back we will talk just a tiny bit about the stock market and then we'll move on to the next one if you're looking for potential trading setups in the stock market then rocket equities and 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 and options report today with a 30-day money-back guarantee so you have nothing to risk for all the details and to start your subscription today visit the front page of TFNN.com TFNN Educating Investors you might think that if you want to be successful at trading in the 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 and stock prices get the opening call newsletter by Basil Chapman and your inbox every day first time subscribers also get a 30-day money-back guarantee if you're not satisfied let us know and you'll get a full refund within 30 days of signing up TFNN.com Educating Investors Everything in the universe is 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 Pezzavento on stocks you need to pay attention to and you can trust Larry's analysis after all he's got 45 years experience as a day trader Larry will also provide daily charts videos and data on the key markets that he's tracking expect notifications from Larry on market movement you need to act on at any time first time subscribers also get a 30-day money-back guarantee if you're not satisfied let us know and you'll get a full refund within 30 days of signing up subscribe to the Fibonacci 24-7 newsletter today TFNN.com Educating investors TFNN has launched the Tiger Zen hosted at Discord TFNN has been educating traders for more than 20 years with live programming hosted by a variety of professional traders during market hours the Tiger Zen available to all Tigers and Tigresses for just one dollar for the year there's no cash or added costs when you join our community of traders sign up today and become a part of this international community of traders just visit the front page of TFNN.com catch Tom O'Brien professional trader and educator founder of TFNN also a special guest on CNBC Tom will bisect and dissect the markets the Tom O'Brien show next on TFNN okay we're back folks and I wanted to put the chart up here of silver because it illustrates a very important point here is that when these patterns break through these ratios that's very important as you'll notice that we hit the exact 382 retracement here on Friday we rallied 40 cents we matched that low yesterday and today you can see we broke through it significantly and that tells us we're heading down to a much lower level this had a chance but it could only rally 50 cents that's why if we were fortunate enough to make some of that that'd be great but the worst thing would have been a break-even trade because we said if it gets back to that level again it is no good especially after a rally many times what happens is the market just hits this 382 and just continues to go down much like it did at this particular time here much like it did to this particular time here but when it hits it and stays there for two days it's telling you your own support coming in this time the support did not last mainly because gold and platinum were certainly heading to the downside quite a bit and we've already reviewed platinum several times but let's just get it up here you'll be able to see platinum here on the long-term weekly made a major high just when the gold was hitting the 2080 level that was here several weeks ago and as you can see it went right up to the 61% retracement of the high that we made way back here which was the large A, B, there's a 3A2 that worked perfectly you see it didn't get below that level and then it goes up makes the A, B, C, D in perfect format A, B, C, D and that's where we are now we're coming off so we're going to be looking for a correction down here about another $150 in platinum which would be lining up which possibly another $70 in the gold so live every day in an attitude of gratitude and may God bless