 Because when you know better, you invest better. Join us and experience the difference today. TFNN Educating Investors. The following is a presentation of TFNN. Trade what you see with Larry Pezzavento. Call now toll free at 1-877-927-6648 or internationally at 727-873-7618. Now, Larry Pezzavento. Okay folks, I've been asked to show how I set my day up. I mean, I'm looking at basically eight things that I'm looking at today. I'm looking at gold, wheat, E-mini, S&P, December bean oil, December corn, November soybeans and cattle. Cattle are almost closed for the day. Now, I met Ensign Software back in 1987. I was living in Pismo Beach and they came down to train with me. And for a whole week, it was John and his brother, Howard Errington. And they had just started a company called Ensign Software and they wanted to see, oh, we're starting to increase the selling on the downside here. I gotta move this up just a little bit here. Okay, but they wanted to see what was happening, how I traded and stuff like this. So I made a deal with them that, I would get X number of profits for the week, limited to a certain amount if I made money and if I didn't, they didn't have to pay anything. So they stayed with me. They were supposed to be for two days. Well, the first two days that I traded with them folks, I mean, even I was shocked. I was just absolutely perfect those two days. I haven't days like that occasionally, but I had them back to back. And so we finished the whole week up. The other three days were normal. I had about, you know, hit about 60%. But the first two days, I couldn't do anything wrong. And so what they wanted to do was to build a program around what I did. And so I said, well, this is what I need. I remember folks, this is 87. I mean, this is only three or four years after we start getting these, you know, computers that you could actually get the prices and everything on, okay? So I told him, I said, look, you can do it any way you want, but this is what I use for tools. Now they've got more bells and whistles on this darn thing than you could ever, ever imagine. But let's just take, for example, where we are. Let's just look at December soybean oil right here. We're going to pull this up because we have a major pattern forming right now in the December soybean oil. So I just bring this up to a daily, okay? And that shows us that we just bought it right here. Folks, we just bought it at 27. The low was 26. We bought it at 27. We're risking about 30 points. Now that's at the 7, 8%. Well, when I was working with them just getting started out, they said, what are the things that are the best? Well, one of the things that I use, you can see the tools that I use. They're just a very few. This is remove everything, okay? This is just puts in a day in, like I can highlight something like that if I wanted to, you know, show a spot like that. You can make that any circular, whatever you want, it doesn't make any difference. Okay, this tells me what the key orders are like that would be a three, eight, two retracement. You can do, what you do is you set that down like this. And then if you want to change it, you just come up here and you can go to the properties on this thing. And you can see, well, what you can do is, well, that I don't want to worry about, okay? I just wanted to show you the tools. These are the things that I use the most, okay? This is the Fibonacci retracement tool, what we have right here. I said, these are the things, the basics that I absolutely need. I never use moving averages, they're in here. If I wanted to put a moving average on, it'll do anything, it'll change the moving average, any way that I want. See, this one happens to be a 313, 34. You know, I can make it forward, backward. I don't use any of those things, I mean, but they put them in because they have many people, you know, do things other than what I do, because what I do is stuff is so darn simple, people don't even look at that. So that's how I'm looking at December, soy bean oil. Now, the other one that we had today here was also December corn. Now here's December corn, this is on a, I believe this is an hourly chart. You can see there was a number we were looking at right here, if we look at this on the daily, okay? And we've been waiting on this for a very long time and there it is. So we bought it there, our stop is right down here. Let me show you where all these tools are. After I was working with them, I did a lot of ABC drawing and he said, what if we could make a tool for you that would draw the ABCD? And I said, sure, that would be great. And so they did. If you came over here, I have these on keys, all I have to do is just mark this right here, okay? And that just tells me that I'm gonna draw. See the thing is so darn sensitive, hold on. That's one thing about them. Boy, those guys are absolute fanatics. That tells me that there's my first ABCD and there's my second. And so it draws them just like this. And so that's what they did. They stayed there for a week and they went back to Utah and started to do some work and about two or three months later, they asked if I would come up to and do a day trading thing with some of their customers. And I said, sure. That was in, oh, see, that was 10 years later. That was in 90, no, it was only five years later, 92. 92, I went up there to do that. Let me get this tile vertical on these windows right here to see where, what I'm watching, folks, is this chart here on the Dow Jones. You see, oh dear, we're really getting rare. Here's the other one. When we break below this, folks, you see all we did here is have this humongous rally. If you look at this on an hourly chart, this is where the real problem could lie. If we get below this, see, folks, this could be a two-day rally. With the Dow Jones, it was a three-day rally. Anyway, okay, I hope this is showing you how I do it. And I do it very quickly. I don't use a lot of stuff up here. If I want to get rid of it, I just go just like that, okay? These are the tools. This is the time that I can change anytime. So if I want to change it to a eight-minute chart, there's my eight-minute chart, okay? So I'm interested if we get below this low because this is going to be very interesting, especially with a few hours to go. And the reason for that is, is the reason that I sent out before. You see, we couldn't even take out the previous days high in the S&P. You see that high was 50.97. This was only 50.95. I mean, that was not a very good sign. Now look what it's doing. It's coming down. We get below here. It's going to take out major support, all right? And look at this. See, we haven't had, this is it. We're starting to come. The next stop is 50.17. All right, so that's why this is so doggone, very important. So anyway, that's what we're looking at. But here's the key. Let me get rid of this. This was the thing that bonded our friendship forever. Hold on just a second here. Let's get the, yeah. Oh, you got a chart, there's so many things in here. All my charts are right here, all the stuff that I look at, okay? And I know you do stocks or anything like that. This tells you the different time frames. It's got so much stuff in it, but I don't do anything folks. What I do is so darn simple. I mean, it's, you know, you just got to do it. All right, let's pick out something we haven't seen in a long time. Let's get natural gas. We haven't looked at natural gas. And where are we here? Natural gas starts with an NG. We're going to go to it daily. I'm going to click that. And what we're going to do is we're going to bring it up. All right, there's natural gas. Okay, I'm going to move it over like this. And I'm going to go to a four-hour chart. So I click this on to a four-hour chart. Now I'm able to see what natural gas has been doing over the last month or so. So there it is. Here is what I paid somebody, $100,000 to match all. Let's take a break. We'll get back. This is almost over. We'll get to some charts in just a minute. Jeff, here's our break. We'll stay tuned. Steve Rhodes started his trading career as a student almost 20 years ago and the student has now become the master. Steve won the prestigious Timer of the Year award in 2018 and barely missed that mark again in 2019, finishing at number two for the year, an amazing accomplishment. Steve Rhodes is committed to sharing his techniques and knowledge with anyone who wants to learn and he shares his vast amount of trading knowledge every day in his Mastering Probability newsletter. Steve's award-winning newsletter, Mastering Probability, is delivered every trading day with updates throughout the afternoon. Sign up for Steve's Market Newsletter, Mastering Probability, and you'll receive access to seven of Steve's educational webinars absolutely free. At TFNN, all our newsletters come with a 30-day money-back guarantee, so you have absolutely nothing to worry about. Visit TFNN.com and try Mastering Probability 30 days risk-free today. TFNN, educating investors. The stock market is a delicate inter-connecting web of commodities, equities, and trader psychology. When one string of the web is pulled, it has a ripple effect across the broader market. This is where opportunity lies, but how are you to gather all of this information into one cohesive model when you're already spending your energy looking for any possible trade opportunities? Luckily, you don't have to worry about that. As Tom O'Brien has brought all important market news to you in one single newsletter, Market Insights. Market Insights provides a daily overview of what's happening in the indexes, bonds, gold, and more. Follow along with Tom daily as he analyzes the components that affect the overall movement of the stock market, giving insight into how each one plays either a bullish or bearish role. Tom also analyzes specific equities that he believes has the potential to make huge returns, and his track record proves his analysis right. All first-time subscribers receive a 30-day money-back guarantee, so what are you waiting for? Don't let the market leave you in the dust. 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 and TFNN's YouTube channel with Tiger TV, live every market day from 8.30 a.m. to 4.00 p.m. Eastern for free. Each host is an experienced trader and gives their take on the market while taking calls and questions live from around the world. From the moment the market opens until the closing bell sounds, Tiger TV has eight different shows with expert hosts to help you make the right moves with your money. Watch online at TFNN.com or on TFNN's YouTube channel and become the investor you were born to be. TFNN, educating investors. Toll free at 1-877-927-6648 internationally at 727-873-7618. This is what they built for me that I can put these dark, garbly patterns in. So all I have to do is to get rid of all that and then they built this pattern that if I take this high and draw it down to this level right here and match it up to this high, it would give me the three drive to a top pattern. It has the hot cycle finder in it so that if I want to look at cycles and we got somebody on the line here and who is it? Oh, shut the front door. Well, how's that? Well, is it better now? I, sorry about that. And I had my limit binder, the thing a little bit low so I'm gonna check that for you here. Okay, let's just move on here. Anyway, this is what it'll do some of these things but this is really how I have everything set up. But here was the key that they really helped me with. I said, would be great if I could just press a button and it would show me every swing that I wanted to see with the ratios and pattern perfectly. And I paid a guy a lot of money. I mean, six figures, almost a hundred grand to build something that I wanted to see like that. Bryce Gilmore had a program like that but he only had it for a few things and I needed it for everything. And he said, oh well, so I went up and I did a day trading live session for him and sure enough, it turned out to be pretty good. And what happened was at the end of the time, they said, come on in the office, we wanted to show you something. And I said, okay, he said, is this what you'd like to have? And they did that just like that. I just hit a button and it shows every swing. And that's what they call the Pesavento Index because it shows you, I mean, this is out to the second, a hundredth decimal place. You can't trade at that level. We do intense at the best, you know? So anyway, that's what we're paying close attention to here that we're seeing right now. Let me check something here because this might be a really key day in the markets and I see that the Dow Jones has come down now and it's made a new low as I see here. Okay, there's a new low that it's made. And so that's what I wanted to see. So what I'm gonna do now, boys and girls, is the old cowboys got to ring the bell. So just bear with me here one second and I'll do something right here. I got to cover some of these. I'm gonna buy them at the market. Okay, I'm gonna buy this one at the market. Okay, and then that's it. Get this right and this shows you, this is what I did today in the E-mini Dow Jones. Okay, let's move on here to talk more about it. I've got to be on here because this thing keeps going down. I want to definitely be short. So what I'm gonna do now is I'm going to put a sell stop. You see, we came down, we haven't taken this one out yet. So I'm saying this may or may not do this because we're setting just about right at the old 78% level right here. So what I'm going to do is I'm gonna sell it. We get down here a little bit more. Okay, that means it's gonna break that out and then I've covered it here at 39. So give me a second here and I'll come up here and I'll do this without any trouble at all. I don't think it'll be any trouble. And we're gonna sell three, let's see, let's do three. And we're gonna sell them on a stop below that level, which would be 39.05. That's good enough right there. And they're gonna give me alert to tell me, oh shucks, Larry Bozo, ah, not good. I had a, that's an error. See, that's not good. Okay, now let me put the original order in. This is, this upsets me. Okay, I gotta come in here and now I put a sale. See, that caused me $40, what that just did. So I'm gonna do a three lot and I'm gonna sell it if it makes a new low at 39. And 0.05, that'll get me back in because I think, and I'll show you in just a minute why I think this is gonna happen, but I'm probably 100% wrong. So I'm gonna put that in and lock that up. I have some, I have some, a couple of short S&P on, but that didn't count because I was, I've been in those for a while and I'm not gonna touch those. Okay, let's move on. I hope that helps, Action Jackson. Now, when I get this set up like this, all I have to do is to go and tile the window vertical. So if I got too much stuff in here right now, so one of the things I wanna get rid of, I'm not interested in the corn anymore, oh, the natural gas. I never keep more ordinarily than just these eight because I can see them clearly. See, that's the main thing that I wanted to do. Now, there's still a chance folks that we got a major bottom here in the S&P. I mean, it's like that, like Jesse and Frank James, this is like the Chance Brothers, slim and none because we have taken out yesterday's low here was at 47 and the late low today was 45.50 and it didn't go down very much. So this might be what is really important. And I'm really hoping, so we went down so much that it's gotta be bearish. The reason why I pay attention to that is we had our good friend, Stan Harley, that does a lot of work on cycles and he had April 17th. Well, I'm a swing trader, so all I do is trade the swings. But I'm interested in that because he might be a day off. I heard it, I had it happen once, about 40 years ago he was a day off. So I wanna pay very, very close attention to, but by the same token, if we close sharply below that number, I have to be short. And I will give you my two cents worth and if you overpay, it is your own fault. Let's get it up here. Here is, here's where we are with this, what do you call it, bit card. I don't know diddly squat about it. All I know is that chart, millions of people are involved, billions of dollars from this high, did that low, the exact high. Wow, did they get filled on that already? Holy cow, just a second. It must really be falling. Hold on just a minute, folks. I guess that's, yep, that's what it is. I'm back in it. So I, yep, I did get filled. So we're back in it. So that's what I wanna make sure we, yeah. Yeah, all right. Now I got to stop in, so I'm okay here. Well, a little trouble today, but hey, we've got a good man, mister. You know who is gonna be coming up here? Jeff huge coming in and it's, see the reason why I talk about this Bitcoin thing, folks, see we're already breaking down hard now. Let's just get this thing up on a little smaller timeframe. Look, look, you see, that tells us we're taking this out. That's going, oh my goodness, was that a 618? I think it was, wasn't, I hope so. So I just take this marker and mark it down. But by the way, folks, I have nothing to do. There was a high of the day today, 61% retracement, didn't make an ABCD. The other one didn't, but this did. So let's remind ourselves of that, okay? So let's keep it moving and we'll see what happens here. We're gonna have to take a little break here, but this would tell us as a possibility today that we could be looking at a move, ABCD. This may be a major bottom, like I said, ABCD right here, would take us down to this level right here, 5027. That looks like it where it might wanna go. Anyway, we're gonna take a little break right now. We're gonna have Jeff huge back when we get finished here and we'll see what's going on, okay? So live every day in an attitude of gratitude for just a few more minutes and we'll see you on the flip side when Jeff comes on to give us his two cents worth. So thank you all and we'll be right back. The Gold Report. As a precious metal, gold is still king. It continues to hold the most effective safe haven and hedging properties across the global major trading hubs with the London OTC market, the US futures market and the Shanghai Gold Exchange. The Gold Report. Tom O'Brien publishes his weekly Gold Report every Monday morning for subscribers consisting of coverage of the XAU, HUI, GDX, the Dollar, Bonds, the South African Rand, as well as 25 different mining equities with specific buy-sell recommendations. The Gold Report. New subscribers get a 30-day money back guarantee so you have nothing to risk. Subscribe to Tom O'Brien's Gold Report newsletter now at TFNN.com. If you spend any time online researching trading techniques on how to begin your trading journey, you've no doubt come across many folks who push forex trading as a way to make big money quickly. Unfortunately, there are equally as many stories of these so-called forex professionals just looking to make a quick buck of aspiring traders without actually teaching the ins and outs of the forex market. This is what sets Teddy Keckstatt's the Tiger Forex Report off the riffraff. Every Monday, former Chicago Mercantile Exchange member and author Teddy Keckstatt releases his Tiger Forex Report newsletter where he dives into the complex world of forex and takes time to actually teach you his methods that have made it so successful in the fast-paced and rewarding world of forex trading. Furthermore, all subscribers receive access to archived live streams of teddies where he provides university-level education to help you in forex trading. All first-time subscribers receive a 30-day money-back guarantee. So what are you waiting for? Forex awaits. In the world of trading, only a few names stand out like Larry Pesavento, a pros pro with over 50 years of experience. Larry has seen it all. A former Chicago Mercantile Exchange member, Larry has authored 10 books and trained over 1,000 traders with his unmatched expertise. Introducing Fibonacci 24-7. Larry Pesavento's daily trading service that turns the complexity of markets into opportunities. Published every Sunday, receive a comprehensive report packed with detailed commentary, charts, and videos that illuminate the patterns shaping the markets with updates throughout the week, exclusively for subscribers. Whether through charts or videos, Larry's analysis is your roadmap to navigating the markets. You can sign up now at tfnn.com for just $97 and with all TFNN newsletters backed by a 30-day money-back guarantee, you have nothing to risk. For all the details, visit tfnn.com. You'll find Fibonacci 24-7 right under the newsletters tab. This portion of trade what you see is brought to you by Directions Daily Leveraged and Inverse ETFs. Whether you're a bull or a bear, you choose the direction. Visit Direction.com. Investing in the funds involves significant risk and should only be utilized by investors to understand the impact of leverage and actively monitor their portfolio. They are not designed to track the underlying index or security for more than a day. Before investing, carefully consider a fund's investment objective, risk, charges, and expenses contained in the prospectus available at Direction.com. Read carefully. Distributor, Four Side Fund Services, LLC. Okay, folks, we've got Jeff Hughes on the line today. Jeff, how are you doing, my friend? I'm here on the show today. Well, it's a pleasure to have you. Now, you're saying there's a possible problem with the banks, boy, something certainly looks a little fishy, doesn't it? Yeah, you know, presumably we've been in some kind of a bull market here, but the banks don't seem to believe it. Regional banks in particular, I think there's something like 78 banks that make up the Regional Bank Index. And it's down over 14% through last night's close on a year-to-date basis. This tells me that not only is there a problem with the banks, but investors smell some trouble. And if we were to compare that to some of the other returns that we're seeing out there, quite honestly, it's just really the mega caps, the top 50 stocks in the S&P 500 that are getting any real respect at this point. They're up about 8% year-to-date with the S&P already giving back half of its year-to-date return. It's only up some 5%. Growth is still hanging in there above value, but actually T-bills are outperforming the average return of the S&P stock. And, you know, the median return for a US stock is actually negative by over 3%. So it's pretty ugly out there for a bull market. Well, it certainly appears to you, doesn't it? My goodness. By the way, your record all during this time has been exemplary. You should be, folks, if you wanna see a really good record, ask to see Jeff's record because he's done a great job. Let's talk about this volatility breakout because that looks like something serious has really happened here somewhere. No doubt there is. And then with respect to my record, we did get stopped out of nine positions in the last two days. But the mean return was 3.66%. So it's positive return being stopped out. But with respect to this volatility breakout, we see two things happening here. On the upper frame of the chart, we're showing the SKU index. For those who are unfamiliar with that, it's a measure of implied volatility of out-of-the-money options. And on the bottom, we're showing the VIX index. People are usually more familiar with that. Just to be clear, that's a measure of implied volatility of at-the-money options. And so what we see here is a big decline in the SKU and a big advance in the VIX. And what that shows us is that people who are long out-of-the-money call options are capitulating on that and demand for out-of-the-money calls is collapsing. Meanwhile, people that had not hedged, there was very little, in fact, nil demand for at-the-money puts. That has spiked dramatically. In fact, we've seen a surge of about 56% from the recent low to the recent high in the VIX. All of this suggests to me that we're gonna see these alligator jars snap shut in the not too distant future. And in our opinion, we think the VIX could push as high as its March 2022 peak, which is around 36%, but it's still possible to exceed that. And we think there's a likely pushup to around the 40% range in the VIX. Wow, 40%, boy, that's gonna scare a few people. We haven't seen a move in the VIX for eight, nine years. I don't think of that magnitude, have we? No, in fact, we haven't been above 40 in over two years. Okay, this next, I don't know too much about stocks, but this is about sentiment. You wanna tell the folks what you're looking at here, Jeff? Investor sentiment? There's a number of sentiment measures that come out on a regular basis every week or every two weeks. Two of the most popular is the name exposure index. That's the National Association of Active Investment Managers. That's the upper frame. And then the lower frame is the American Association of Individual Investors. That looks at what mom and pop are doing in their personal accounts. And so the upper band, what we saw back around the end of the quarter, March 28th, in fact, the most recent report at that point showed about 103% exposure to equity. So actually investment managers, professional managers were leveraged. The interesting thing is that the week prior, two weeks prior rather, it got to 104%. So that 103 was actually a failure to confirm the new high in price with the new high in sentiment. And so that leaves what's known as a negative divergence in place. We find that interesting, but when we go back to the lower panel and look at the American Association of Individual Investors, we can see that the bull bear spread, that's the number of bulls minus the number of bears, that peaked back in December at 32%. There were two back-to-back reports week after week in December, and it's come down and rallied to lower highs several times. We have in place now, what we would describe as a double negative divergence with the most recent peak at the end of the first quarter as the S&P was making its all-time high. And in fact, that made a lower high. So we're seeing this failure to confirm. And while we can admit at this point that investor sentiment certainly come off its boil, the failure of sentiment to confirm the new highs in price oftentimes signals a point of recognition among the wisest set of investors that something is amiss. And clearly we can see with the decline in the S&P since that peak, they've been correct. Jeff, I've got a question. I don't think you were involved in it. I was back in 87. I see scenarios just on talking to friends and other traders and stuff that there's just no fear out there in Bitcoin or the stock market or anything like that. And boy, that to me is a real dangerous sign, especially these Bitcoin people, but this is an old cowboy riding his last trail ride. So do you see anything like that at all? Because 87, you were probably in high school, weren't you? No, actually, I was getting married in 87. I got married on 24th, Saturday after the crash. And my father in law credits me with saving him a lot of money because he sold a bunch of stocks in order to pay for the wedding the week before the crash. So I remember that the Sunday the 18th, I was at, well, I don't want to go into that. Anyway, let's keep moving on here to take a look at the next chart that you've got because you've got such great stuff here that I want to make. Oh, now what happened to it? What happened to it? Don't do that to me. Okay, boys and girls, stay with me. Hopefully we'll be able. There we go. We'll get the next one up right now. Remember when you're dealing with me? Now, I'm hearing. I'm hearing, yeah. You know, people don't believe that, but I do. You know, I've been around for a long time. I knew Richard Russell quite well. So please tell us what this is all about. Yeah, you know, back in the day, Charles Dow, who, you know, established the Dow Jones company, which, you know, owns the Wall Street Journal and he was the guy who created the Dow Jones Industrial Average back in 1896. Well, he came up with the theory where, you know, if the Dow industrials, the companies that manufacture the goods are making a new high, then that should be supported by the Dow transportation, the companies that transport the goods. And if you don't get a confirmation between these two indexes, then something could be a miss. That's my false signal, if you will. And the problem is, if you take a look, you know, we saw a breakout to a new all-time high in the Dow Jones Industrial Average that is out of concern by the transportation. Okay, we'll be right back, folks. Many trading newsletters attempt to focus on a narrow set of equities or commodities. While this works for some, it oftentimes misses many opportunities that possess huge gain potential. But how is an independent trader supposed to scan the entire market looking for these hidden opportunities? One simple answer, the opening call newsletter. Basil Chapman, developer of the Chapman Wave Trading methodology, has been trading the markets for longer than most trading influencers have been alive. And over that time, he has honed his methodology in order to accurately call movements in a wide range of equities, from semiconductors to uranium to key indices and so much more. Basil is old school, taking the time to educate the trader while also giving his insights into key indices, selective stocks, and more. Opening call subscribers also receive access to dozens of educational live streams that can be accessed at any time for your edification. All first-time subscribers receive a 30-day money-back guarantee. So ignore the pop trading influencers and start learning time-tested technical analysis. The stock market is a delicate interconnecting web of commodities, equities, and trader psychology. When one string of the web is pulled, it has a ripple effect across the broader market. This is where opportunity lies. But how are you to gather all of this information into one cohesive model when you're already spending your energy looking for any possible trade opportunities? Luckily, you don't have to worry about that. As Tom O'Brien has brought all important market news to you in one single newsletter, Market Insights. Market Insights provides a daily overview of what's happening in the indexes, bonds, gold, and more. Follow along with Tom daily as he analyzes the components that affect the overall movement of the stock market, giving insight into how each one plays either a bullish or bearish role. Tom also analyzes specific equities that he believes has the potential to make huge returns and his track record proves his analysis right. All first-time subscribers receive a 30-day money-back guarantee. So what are you waiting for? Don't let the market leave you in the dust. For traders who crave risk, directions daily leveraged and inverse ETFs provide opportunities to magnify short-term perspectives with up to three times a daily leverage, utilize bull and bear funds from both sides of the trade and trade through rapidly changing markets. These are highly leveraged ETFs with daily resetting designed for short-term trading, not long-term investing. Whether you're a bull or a bear, you choose the direction. For up-to-date pricing and performance, go to direction.com. Investing in the funds involves significant risk and should only be utilized by investors who understand the impact of leverage and actively monitor their portfolio. They are not designed to track the underlying index or security for more than a day. Before investing, carefully consider a fund's investment objective, risk, charges, and expenses contained in the prospectus available at direction.com. Read carefully. Distributor, Foreside Fund Services, LLC. This program is brought to you by Vista Gold, traded on the NYSE American and TSX under the symbol VGZ. Folks, we're talking with Jeff Hughes of Alpha Insights. Please continue, Jeff. Yeah, I was just gonna say that the doubt, you theory non-confirmation that's been in place really back to November of 2021 suggests that you've got kind of a false signal here. You just don't have the full confirmation of the market. This is a bearish decision. I agree. But we got two bears together. It's pretty hard to find anybody bullish. Okay, now we're taking a look here at these internals. This is what to me is very important. The other day, Jeff, there was one advancing issue, one new high on the day and 206 new lows. Boy, that's a sign that something's seriously wrong. Yeah, last week we saw the market's breath collapse and these are just the internals for the S&P 500, but 83.4% of the issues were negative on the week last week. The five-week moving average of the net advancing issues, that's turned sharply negative after putting in place a double negative divergence. That's negative 12.2% right now. That is pretty significant. And then of course, we look at momentum in the middle panel and that's seen a very significant negative divergence as well, which often is a precursor to a major trend change. And of course, we've seen momentum plunge below the zero bound. And then finally, net advancing volume, this is not a bull market condition. You need to have four or five to one to sustain a bull market. We're at about one to one right now on the five-week moving average. So not a good setup, not a bull market setup at all. Yeah, it looks a little bit of a screen. Not only that, with two and a half hours to go, it looks pretty wild. And there's the old, the Lone Ranger himself, Clayton Moore. Anyway, I was a big Lone Ranger fan when I was a kid. So anyway, go ahead, tell us about this. I've been bullied silver since it was $4.20. Actually, what was the dollar? Over, you wanna talk the S&P? Let's talk it. You can get the S&P chart up now. Oh, okay, let's see how, oh my gosh, looks like we could be breaking down below. Boy, that wouldn't be very good, would it? You on the S&P is really a breakdown below this gap support. We'd take out the last critical trend line and we'd be looking for a move down to the 200-day moving average, which comes in about 46.68. That's right on par with the 50% retracement of the entire advance off the October 27th low, which comes in at 46.84. So that seems like a logical place for this pullback to grab a little support. If our count's right, we think that would just be intermediate wave one down, of primary wave A, of cycle wave A, of super cycle wave four. We think the top is in. We do not expect to see another new high to follow. Wow. Well, that's real interesting here. We've got a lot of things happening in the market today. Now let's talk about the Lone Ranger. He was an, you know, he was an era, he was an Arizona Ranger, not a Texas Ranger. He was an Arizona Ranger. Oh yeah. Well, a little too well dressed in my opinion for that era, but you know, with respect, with respect to silver, you know, a lot of people are like, okay, you're bearish Jeff, now what? What do we do? Well, remember last time on your show, we talked about gold. Gold's been breaking out. It's our top actionable trade idea for 2024. Silver's our number two idea, but it actually might outperform gold. And we think that the breakout that we see in this small base pattern to the far right, which is kind of an inverted head and shoulders, appears to be part of a larger degree pattern, which is part of an even larger degree pattern. And the entire pattern is about a 40 year classic pattern base formation, the cup and handle variety. This chart dates back to the early 70s. And we think if we can rally up to around $38, that's our initial target. A breakout above 38 would give us a measured move to $62. Now that's not something we're looking for, you know, in the next month or two, but maybe a year, year and a half from now, we could be trading at 62. And I don't know if you remember a guy named Ard Sklaroo. He's a big company back in the 70s. Yeah, I know who he was. He wrote a book on technical analysis of commodities markets and how to project upside targets. And one of his methodologies is called the rule of seven. And if we apply the rule of seven to this particular chart, we can come up with an initial target of $100. And I can come up with targets that are significantly greater than that using his rule of seven at different multiples. And so we're starting with a hundred is kind of being our long-term stretch target. But I think if silver gets to a hundred, gold's gonna be well above 8,000 at that point. Shut the front door and raise the red, folks, 8,000? Wow. Hey, listen, you got your monthly newsletter here. Tell the folks how they can reach you. Absolutely. So our newsletter comes out on the first Saturday of every month. It's published on Substack. And you can access it at Substack or at hugeinsights.substack.com. This is, we're in our third year publication. It's been very, very popular. We cover a lot of key macro factors and the big picture on the markets. And if you like what we put out in the free subscription side, which is about the first five pages, and you wanna see a little bit more, we give a really detailed outlook for the markets and our positioning. So the upgrade to paid, you can get it for as little as $12.50 a month. So maybe worth taking a look at. Again, that's hugeinsights.substack.com. And I posted here how to reach him and it's www.jwhinvestment.com on Twitter. It's at alpha slash insights. And Substack is huge insights at Substack.com, .substack.com. That's right. Listen, we're gonna have you on again soon, my friend. Keep up the great work, Jeff. It's really class stuff. I really enjoy it. I look forward to it. Thanks, Larry. I really appreciate your time today. Take care now. Thank you, sir. You betcha. Okay, folks, let's take it. We got a couple minutes here before the end of the break here. Let's get up here and see what something's happening to these markets here. We're still holding up okay here with the S&P and we're gonna find out what these others are gonna be doing here pretty soon. So we'll have to wait and see what's going on here with some of these others. The bean oil is still down at the area. Corn is, what is, corn's moved up a half a pen even where we bought it. No big deal here. So we've got to move on. Someone's asked a question about one of our favorite stocks, which of course is Mr. Tesla. We still think folks that it's got a chance to get down there a little bit lower. Hold on one second here. As you take a look at this, there's where we are. Whoa, we're got, wow, it's down big today. Gee whiz. I guess quite a few things are. Anyway, this is where the pattern tells us that there's a pretty good probability that we're gonna get down to this level right here in Tesla. And if you use the old instant tool where you draw the A, B, C, D patterns, you can see how they're lining up just like this coming on the way down. So there's one right here. So it looks somewhere between 137 and 116 is where you wanna be watching it. This number right here folks is really important. We hit today. Let's just get this over and show you. That's the 78% level. This is a split adjusted, of course. But there's your, oh, it's got too much junk in. Let's take a break. We'll be right back. Okay. 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. In the world of trading, only a few names stand out like Larry Pesavento, a pros pro with over 50 years of experience. Larry has seen it all. A former Chicago Mercantile exchange member, Larry has authored 10 books and trained over 1,000 traders with his unmatched expertise. Introducing Fibonacci 24-7, Larry Pesavento's daily trading service that turns the complexity of markets into opportunities. Published every Sunday, receive a comprehensive report packed with detailed commentary, charts and videos that illuminate the patterns shaping the markets with updates throughout the week, exclusively for subscribers. Whether through charts or videos, Larry's analysis is your roadmap to navigating the markets. You can sign up now at TFNN.com for just $97 and with all TFNN newsletters backed by a 30-day money-back guarantee, you have nothing to risk. For all the details, visit TFNN.com. You'll find Fibonacci 24-7 right under the newsletters tab. The stock market is a delicate interconnecting web of commodities, equities and trader psychology. When one string of the web is pulled, it has a ripple effect across the broader market. This is where opportunity lies. But how are you to gather all of this information into one cohesive model when you're already spending your energy looking for any possible trade opportunities? Luckily, you don't have to worry about that. As Tom O'Brien has brought all important market news to you in one single newsletter, Market Insights. Market Insights provides a daily overview of what's happening in the indexes, bonds, gold and more. Follow along with Tom daily as he analyzes the components that affect the overall movement of the stock market, giving insight into how each one plays either a bullish or bearish role. Tom also analyzes specific equities that he believes has the potential to make huge returns and his track record proves his analysis right. All first-time subscribers receive a 30-day money-back guarantee. So what are you waiting for? Don't let the market leave you in the dust. TFNN has launched the Tiger's End. 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's Day, available to all tigers and Tigresses for just $1 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 educational community of traders. Just visit the front page of TFNN.com. Don't forget, you can listen to TFNN live on your mobile device 24 hours per day. Go to TFNN.com and hit Watch Tiger TV. That's TFNN.com and hit Watch Tiger TV. Okay, folks, I'm unable to finish the show here today because in an emergency, I got a screwed up order and I got to get it taken care of. I'm sorry about this. I'll see you tomorrow. The guests tomorrow will be Norm Winsky over and out and I love you guys and please be safe. Gold report. As a precious metal gold is still king. It continues to hold the most effective safe haven and hedging properties across the global major trading hubs of the London OTC market, the US futures market and the Shanghai Gold Exchange. The gold report. Tom O'Brien publishes his weekly gold report every Monday morning for subscribers consisting of coverage of the XAU, HUI, GDX, the Dollar, Bonds, the South African Rand as well as 25 different mining equities with specific buy-sell recommendations. The gold report. New subscribers get a 30-day money back guarantee so you have nothing to risk. Subscribe to Tom O'Brien's Gold Report newsletter now at TFNN.com. Many trading newsletters attempt to focus on a narrow set of equities or commodities. While this works for some, it oftentimes misses many opportunities that possess huge game potential. But how is an independent trader supposed to scan the entire market looking for these hidden opportunities? One simple answer. The opening call newsletter. Basil Chapman, developer of the Chapman Wave Trading methodology has been trading the markets for longer than most trading influencers have been alive. And over that time, he has honed his methodology in order to accurately call movements in a wide range of equities, from semiconductors to uranium to key indices and so much more. Basil is old school, taking the time to educate the trader while also giving his