 The following is a presentation of TFNN Trade what you see With Larry as a bento All now toll-free at 1-877-927-6648 or internationally at 727-873-7618 Now Larry Pezzavento Hi everyone, this is Basil Chapman sitting in for Larry Pezzavento I usually do my show at noon to 1 p.m. Eastern time called the opening call. I'm also the author of the open the Oh the Tiger technicians our at noon. I'm the author of the opening called any newsletter and Here we are so let me show you a couple of things going on right now We've got the Dow Futures, I'm going to go straight to the futures to show in the den YM. The futures are up 102 at 27,848 and this is extending in the futures. I have a different notation I used let me just show you this I use notations in the Chapman wave methodology and I'm always trying to identify the lowest low bar from which we can count each Successively higher peak looks like this. There's the low bar and you count each successively higher peak Alphabetizing them up a case of the way up location the way down and when you get to the fourth highest peak Alphabetize a peak B next peak C peak D's the fourth other things can happen And when that other when the other things happen It means that it could recycle higher and have a whole brand you move to the upside or that's where you can get your strongest decline So I look at three patterns straight down straight up an arch formation and a cup formation You can get a combination where we go straight down Makes an arch if it takes out that left side low We'll see many charts in the free moments that have this pattern takes out the left side low They can go even lower and on the right here You've got a reverse y formation green because if you take out the left side high That's how you get those peaks if you take that out So it's like a why you take it I start a new leg up and that's exactly what happens here So let's get out of this and I want to show you a bunch of things that I think are going to be important for today So here we go go on okay, so we've got in the dating We've got this leg e but I use different moving averages. I use a series of of tools technical tools I'll be teaching this in my webinar coming up Tuesday night the 19th five o'clock to 6 30 And I you know Larry keeps it as simple as possible. He has his Uses from an archie of course and uses his gardenies and butterflies These things have a combination of those but I use them in a slightly different way But I also use the technicals which I call the moving averages here You see this green line how it's holding support See this that's a nine period exponential moving average on the on the below This is the daily chart underneath it here is the black line Which is the 14 period moving average a 27,500 support the nice at 27,000 628 now what's even more important is that I also use the mag D the moving average convergence Divergence still very positive and the stochastic which is very strong at 95 percent And I use this blue line which is called the unbalanced warning which is suggesting We started bumping to resistance. This resistance hasn't yet Me meant a turnaround to the downside so far that's strong the weekly chart right now is strong See the mag D is good stochastic at 91 percent is good And you've got a leg D in the monthly chart of the of the ym If I look at the down daily Right here. This is the doubt from yesterday's close You can see that we'll be starting a leg e to the upside if we go above 27,808 Which obviously looks like we're going to do at the open today And you can see the magnies good stochastic at 93 percent is good because the unbalanced volume just turning down But whatever the news was at 830 the market is saying hey, that's good news The other thing is also the semiconductors had a mixed performance yesterday you had in video Which should have had blowout earnings and it evidently is a little bit disappointing But then you've also got a mat applied materials Which is up 3.80 pre market at 60.78. So it's up About 6.7 percent and it's This is this is good action and that would help the semiconductors the smh's right now 134 46 So I want to go through these things. Let's go through the The s and p. This is the cash cash right now is trading at 3096 point 60 g because it's on a On the basis of when the market opens. So this is pre open and yesterday it went To that line and it just bumped into this resistance line I called it a trend line and the magnies still good but starting to flatten out unbalanced volume is very overboard But that doesn't mean to say that it's worrying the market because 91 percent the stochastic is good in the dating And the same thing in the weekly chart in the monthly the monthly here is only in leg b So that's very very positive looking out Even if we do get some kind of a retracement coming fairly soon So as i'm looking at this i'm looking at the esz one nine That's the december e-mini and then esz one nine is trading right now up 10 dollars Now last night it was meandering and then suddenly there was this pop to the upside it ran to 31 1.50 3111 And a new all-time high I've got this now as a leg f and we're looking at the same thing Where it's getting a little overboard But actually the market itself is ignoring that fact because the price is higher prices are all-time highs right now So we're going to be watching this very closely We had some interesting action in the 120 minute chart It should try to make a leg d above 31 111.50 trading right now 3107 up 10.25 In the 120 minute chart and it keeps making I love to look at these Sign waves where you go from a cup formation to an arch formation to a cup formation Started an arch but now that arch is being tested for resistance and so forth. This is very good action All right a couple of things I want you to look at because I know larry always looks at them So let's do this. I want to just run through some of the commodities. Here's wheat And wheat right now is trading at 507. This is a continuous contract down three quarters of a point It's a stack remember I spoke to you about this arch formations called the dreaded h in my work lowercase h retesting the low the 200 period exponential moving average and the 50 period moving averages at 503 Very strong magnet to break away from it. You really just see 520 in about a week In less than a week it should get to the 520 to really say wheat is coming back again But otherwise the weekly chart is saying that week is not not that good And the monthly chart says uh-oh It's a real problem of this particular point. It was doing well now. It's just stuck in a range soybeans soybeans apple today up two and a half at 919 and a quarter this kind of channel I love these channels because when these channels have a very consistent between The the boundaries in this case a parallel Channel to the downside when it breaks the upside After taking a lot of time having a very even high and low high and low but lower highs lower lows lower highs But keep holding that which it did two days ago perfectly held the support That intimates to you that if the stochastic starts at 9% starts to go to the teens There could be a nice pop to the upside and it has to break 929 the 200 period moving average to say Aha this weekly chart you can see right here Which has been making higher highs and higher lows will continue that pattern if it can break over 960 Hopefully in in november if it starts to pull back and slides underneath 909 That's a real problem and then corn is the same thing. We'll talk about bonds. We'll talk about Crude all when we get back basil chapter sitting in for the one and only The larry pessimistic trade what you see If you're not currently using the taz profile scanner when looking at setting up your trading opportunities Then your arsenal is short a mighty weapon The taz profile scanner is a standalone piece of software that instantly filters over 2,500 global financial markets such as stocks etfs commodity futures and forex headed by steve doll Taz understands that in today's technological world the use of top flight software applications and technical analysis Expertise is essential to successful trading in today's market You also gain access to the webinar that steve doll and tom o'brien just hosted The best way to use the taz profile scanner to profit this webinar archive is available for all subscribers Immediately upon signing up all new subscriptions also come with a 30 day money back guarantee So you have nothing to risk Start your subscription by visiting the front page of tfnn.com today And you'll find the taz profile scanner under the services tab sign up today Are you in the market for buying or selling real estate in the bay area? 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This is basal trappin city for larry pesavento. I'm looking at corn. This is a continuous contract Remember we're looking at the down channel just now in soy. So what we're looking at is there's a down channel the underdating chart Of corn, but it's not acting very well the mac d is very weak. So castings at 16 percent. It's not doing all that well And if you remember, I was just mentioning the uh right here I was mentioning the dreaded ace the lowercase h pattern if you take out the left side low It can go much lower. That's this one right here. So let's see what we're looking at in terms of the weekly chart Look at that. There's the h pattern. Make it simple close below 368. There's a continuous contract Close below 368. There's a good chance you're going to go low because you've got that h pattern The weekly chart is very bad. This is what I call the eiffel tower in the monthly straight up Look at this straight up and straight down looks like an uppercase a And it took out the left side low, but it did close above that left side low So this weekly multi chart is very poor. It needs to get to the 406s Before I'd be able to four actually 408 406 to 48 before you can really look at this and say wow Now we've got a real change in trend to the upside Meantime right now, even though this is the same kind of channel that we saw in soy Let me just show you here. We'll do keep your eye on the left side chart s There we go. See it's a little narrower And not quite as deep now. We're going to go to this scene which is corn See it's a little bit wider the movement and that says That it has a lot of work to do to get into the 380s above the 14 period exponential moving average The mag these weeks the casting is weak it can happen because grains tend to move very suddenly But the major trend you need a real catalyst for having a major trend to the upside or downside So for the downside is a retracement But we'll see if it's going to deeper. I want you to look at the tlt The tlt has a nice pop to the upside, but it's pulling back a little bit It's down 24 cents at 137 67 Uh, oh, that's because it hasn't got the candle for today. Let's go to the u.s Let's go to the bonds continuous contract. Yeah, there you are a bond at a very strong leg a to the upside When these strong leg a's fail and they keep coming back down to a low a low that h pattern Um, that's really not good. Then I have to put it in a chapwave methodology I put it to put an a minus and now we've got an a I call it a gray a and actually change the color Because it's so deeply underneath the previous high that there's a lot of work technically to do before I can go from a buy signal To a buy mode. We don't even have a buy signal yet The mag d might cross positive today's the casings at 31 percent. This is the start But what's really important is look at the left the the middle chart the weekly chart You see this h pattern that broke underneath the 130 Uh, oh, this is not the tlt. There's the bond underneath the 157s low of 30th of september It broke decisively but then I've got a rule of thumb that says in this h pattern If the left if the right side takes out the left side It has just two bars in which to get back inside Once it's gone under then you have to look at moving averages or peaks on the on on the chart you're looking at To see what where the where's the resistance because if it fails to take out this left side low It makes a successful h pattern It can go all the way back to the top of the arch when it doesn't And it's gone below It says you have to limit yourself one step at a time to say moving averages resistance That would be in the 159 and a half area. This is a continuous contract. It's 30 a t bond Contract trading at 158 and 730 seconds down half a point right now. This is going to be difficult So and normally what you would see is that money comes out of bonds and goes into stocks when stocks are running strongly And when stocks are starting to get very volatile and dropping money comes back into the safety of bonds So now what we can do is just show a very simple trend line resistance right here in the daily chart and say, okay Make it easy if the bonds can go to the 159 and a half 160 area In the next couple of days, that'll be a good sign that by we suggested the market's starting to weaken But right now if you look at the t and x This is the 10 t in x This is the 10 year yield It made a peak after the chap wave just recently at 19.6 19.71 on the 7th of november and is pulling back The mag d's turned a little bit negative and the Stochastic is at 66 percent. Let's say that yields just in the shorter term could still Digest gains for a little bit longer. They have had a nice balance But there's monthly charts There's a lot of work needs to be done before you can see the yields start to climb in the 2.1 for the 10 year So right now just a consolidation crude oil right now. We're going to crude oil crude oil It's just in this trading range. I've been telling subscribers to my opening called daily newsletter That we've got a crude oil just kind of stuck when I've done my show I said there's 200 period moving average the orange line There's like a magnet is attracting the price and it's done that for about eight or nine maybe one two three four five six seven eight nine 10 sessions They haven't broken much above haven't broken much below But what's really important is that if the crude oil can actually start to trade at 58 90 59 30 in that area starts to move away from that The magnate should improve and the stochastic should go from 76 up to about 80 percent, which I like But if it pulls back and starts to break under 55 80 This is the continuous contract. Uh, it's it's it's a problem Then you've got this huge resistance at the 200 period moving average in the 57s. That's crude oil Let's do this. We want to look at high-grade copper High-grade copper is pulling back off the peak in the Chapman wave methodology right there So the manky turned down stochastic way down to 16 percent. It's kind of stuck in the lower range and what I've been saying is that Together so you're looking at High-grade copper and just saying internationally It's probably talking about some some economic weakness But one of the things I usually look at and I'm going to do this right now Before the market opens. I want to show you a couple of things. I want to go to this particular set of charts right here Uh, where would I find a mirror? There it is. Okay. This is going to show you The three I call this a triple yield chart. I showed some subscribers every weekend We look at it and it shows you that the white is the tyx the 30 a t-bond t-bond yield The brown is a tnx the one I just showed you but this is the yield of the tenure the tnx And this is the f of vx the five year t-notes so the Ten year t-note and the five year t-note. Look at that move off the bottom But it's still stuck kind of in the range now. This is interesting This is with the ice is global timber and forestry etf. I like to put them together with Copper because it's saying internationally Timber and forestry is actually bouncing nicely now It's had a huge move to the downside from the all-time highs which is up at 83.88 back in june of last year I gotta remember it's all-time high but the most recent major high and you've got Philadelphia housing index. This is the this chart right here got stuck in this rectangle formation up and down stuck in that range And now what we've got is we've got hydrate. We've got the Philadelphia housing index Rounding nicely, but it hasn't taken out that peak D. Remember important D is look D was the high that was made right there That was back in may of 2019 a 316 55 pulls back sharply this starts a brand new move goes to another peak D in the 360 area So that's going to be very important. That's a 356 41 today. So if yours remained low, maybe The Philadelphia housing index goes higher had a question about gold will go to gold I just want to show something that I thought was quite interesting gold is stuck in the range And the question is can we look at nugget and gdx when we get back the market will open? And we certainly will look at that. Let's see what the day has in store for us Larry Pezzavento has just started his brand new service Fibonacci 24 7 And he's already delivering content to his subscribers on a daily basis when the markets opened and even on weekends Each monday you'll receive larry's written report that provides detailed commentary and a summary on the charts and videos That larry sends out and throughout the week when warranted larry will send out via charts or videos or both The key markets that he is watching during the day This will be up to the date active trading information that will help you in your daily trading in larry's first week alone He sent out 25 charts six videos and a full report to his subscribers in just one week If you're a technical trader that uses patterns and retracements to trade then larry's service Fibonacci 24 7 is something that you must try right now new subscribers can get a full 30 day money back guarantee With nothing to risk sign up now to larry pezzavento's Fibonacci 24 7 by visiting the front page of tfnn.com under trading newsletters The path of least resistance is david white's daily trading newsletter And if you're looking for active trading ideas then now is a perfect time for a 30 day free trial to this powerful daily trading advisory service David uses his years of trading experience to offer his subscribers his trading ideas each morning in his path of least resistance newsletter Using a combination of equity trades along with options David keeps his subscribers up to date with all pertinent market information with intraday afternoon updates when warranted Don't miss out on this great chance to get a 30 day free trial to david's daily newsletter The path of least resistance with no obligation to pay anything David has been delivering solid recommendations for his subscribers recently And if you'd like to see the type of newsletter he delivers every morning Then visit the front page of tfnn and you'll find the path of least resistance under trading newsletters For all the details and to start your 30 day free trial today log on to tfnn.com now Tfnn is excited about our new software charting program the art of timing the trade charts In collaboration with tom o'brien and using his best-selling book the art of timing the trade your ultimate trading mastery system David white has programmed an outstanding piece of software that will complement any trader's methodology Using this first of its kind program the art of timing the trade charts allows you to scan thousands of stocks for Fibonacci formation setups including guardleaf, abc's butterflies and much more the art of timing the trade Charts is designed to help you when scouring the markets for stocks just beginning to form the trading patterns that many investors spend days Weeks or even months searching to find and right now we're offering licenses available at only $79 a month We are so confident that you're going to love this new charting software that will even give you a 30 day Unconditional money back guarantee don't miss out on this incredible new piece of software Get your copy of the art of timing the trade charts today by visiting tfnn.com This segment is brought to you by think or swim for more information Just click the think or swim banner on the front page of tfnn.com Basil Trapp and sitting for Larry Pacific I'm the host of the uh The tiger technician technicians hour at noon to 1 p.m. And author of the opening call that he newsletter So let's just go through the markets now open and we'll get to had a question about gold we get to go in the moment Let's just do the nq's at at 80p 15 Up 49 I'm not sure if this is a yet a second what I call a chapter wave instant restart at pd That would be really unusual to have a third sequence going up But at least it's going up for now. It's up 50 and that is really good action I want to show you the qqq which is the ndx 100 trading vehicle that's going to a leg f right there Big gap to the upside The mag d is good stochastic is very good at 92 on balance volume is not really confirming this yet So let's see what happens. Uh, so now we're 20268 As a high That's a very good action. Let's just have a look at a map which is applied materials Wow, what a nice move up 4.88 And soaring right now 61.73 This is now a leg. Oh, this is a leg d leg d there we are on another d We're looking at these they're very important and in the weekly chart I'm not sure if they've recycled up and it's a leg f the monthly chart is 62 40 was the old was the is that an all-time high? Let me have a look at this. Yeah all-time high 62.40 Back in march of 2018 and so far the high today 61 89 are probably tagged and that's a leg c You see this cup formation. You see this dashed line here and it says by That's by january of 2020 should retest the 62 40 area This is now three months earlier and you see this dashed line. That's called chapwave inside track So inside wedge repellent target line. It's just gone above that So it's going to be very interesting how we close on the day today So, um, I want you to show you that the smh is Trading right now gapped up. So this is What we call the neck in the this particular oval pattern. So now I'm going to change the color on the inside There you are. So now it looks like a pattern that we often look at Let's see how this breaks out is a 135 15 The high so far is 135 22 I was expecting that we'd have stronger resistance and that we would pull back from here No, we've just gapped up on that news. So that's going to be something that we have to monitor very very closely And I just need to look at something here. So I'm talking apples to apples Okay, so we were short now we're out. We had a short position just Nothing fancy just a short position or maybe a one and a half percent. I think it is two points Uh, yeah, so uh less than two points So what we're all looking at here is within the semiconductor index What happens after this you've got in the pattern I'm looking at To continue higher It needs to go to the 135 50 then 136 10 level by about monday or tuesday If there's a pullback and it goes under 134 it could say this was a gap up Conclusion to a particular phase. We'll be watching that very closely. But so far. Hey, this is it can't complain This is really good action. Let's go to the um, so that's the answer mh's Oh, I wanted to talk about a gold. So when we're looking at the gold contract You see this is very I've got a rectangle formation, but basically it looks like the arch This is the dreaded h pattern because it took out It was in it You know, it made this kind of pattern that has a bounce off the low After making it high and then it takes out the left side low last we could close underneath right now underneath what underneath the This is a continuous contract underneath the lower one four six five point zero 14 65 We're 14 65 point nine right now. We're tired above it But last week we went under it and then closed at 1462 point nine So this is going to be very important for me because is gold About to have a strong bounce back into what we call the rectangle formation Which goes all the way back. I love to look at these visually. I'm I'm a visual I was a visual artist once upon a time So I like to things look at things visually if you're looking at this as a fulcrum this rectangle formation right here Between 1480 it's called a 1485 and 1546 no no no sorry 1520 You see the price even though it went above it kept coming back even though it went below it kept coming back Now it's gone below and it's struggling to get back into that 1485 area So I'm maybe watching this closely because if gold is struggling right here It says internationally There's a kind of a benign attitude towards the configurations verbal configurations going on all around the world And that is quite quite important and not only that it says that if silver Is also fading and actually looks a lot worse now Usually silver has a slightly better chart pattern and then follows gold But it doesn't break out like gold is broken out Except that once when it went to 1975 back in September of this year and the week of the 5th of september But there's the H pattern you can see it's gone under and it's struggling to get about and the mag D is negative and the weekly chart So castig negative and it just says to me gold is not in play right now for the upside I could be wrong, but I'm just saying to you that's the way it looks at this particular time and I'm going to be following it very closely because in terms of The leading indicators if the metals start to really move higher I have to look around have to see what's happened to the dollar where the dollar Has held very nicely up until now in the big consolidation from 1969 62 the most recent Five-year high 103.82 was uh, no, so what I say five-year high that was sorry in 19 january 19 of 2017 103 82 was high and the plump slums down to the february 2018 low of 88.25 And then it rallies we did for subscribers We've been long since 19.07 via the uup fund and still hold it just to tie a little bit off somewhere in the 96 area But we're holding it because I think that this is really an icon The way I'm looking at the dollar is that is an icon It represents I call it the holly davidson not the company, but the old icon of the holly davidson as an america's motorbike And a rock and roll holly davidson, you know that whole thing from the 50s, but um, it represents an icon of the the Economic growth and the superiority of the economy American economy at this particular time So I'm still I'm I like the dollar It has consolidated There's your pd. Remember I said that fourth highest peak is ready. You've got to be careful 1967 on the first of october pd plummets down to 97 point doesn't plummet drops sharply to 97 14 Makes the dreaded h goes under it to 97 11 Successful magdial stochastic turn to the upside rallies through peak c I would have preferred if that was just a peak b peak c means you close to a d And you way under the previous. I call it the grand canyon Cliffs look you've got this sharp move to the downside. So this is not a successful buy signal to buy mode yet it should be but I would have preferred to see 98 80 to 99 10 at this point. So The dollar is just consolidating huge gains and it's done that for a while You are usd. Look at this. You're a dollar currency pair. You've made your your trough scene You're trying to rally you're at the nine-point review average. 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That's 877-518-9190 If you're a trader in the market looking for exposure to gold or gold mining equities Then now is a perfect time to sign up for tom o'brien's gold report the summer is over Gold is trading back above 1500 dollars and the 10-year treasury is hovering at around 1.5 percent Tom o'brien has been writing his weekly gold report for almost 18 years There's no one that knows more about how the gold market trades and how gold mining equities react New subscribers get a 30-day money back guarantee. So you have nothing to lose every monday morning Tom publishes his weekly gold report with coverage of gold, silver, bonds, the xAU, hui, gdx, the dollar As well as more than 30 different mining equities as of september 3rd Gold report subscribers have five active open positions with an average unrealized profit of almost 38% for each position To see for yourself the types of profitable trades that are recommended within the gold report Sign up today by visiting tfnn.com Will the s&p 500 continue to climb for bold trades on us large cap stocks in either direction trade spxl spu u or spxs Directions daily s&p 500 bull and bear Leveraged ETFs direction leveraged ETFs an investor should carefully consider a fund's investment objective risks charges and expenses Before investing a funds prospectus and summary prospectus contain this and other information about direction shares to obtain a funds prospectus And summary prospectus call 866-476-7523 or visit direction investments dot com A funds prospectus and summary prospectus should be 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 for side fund services llc The bull bear trading hour with tom and tommy o'brien next So talking about different waveforms in the chapter wave methodology We've gone to a two-minute chart peak e at three three one one one point fifty that's like a And and the loss that was the high from earlier this morning and the two-minute chart just went to Three one one point two five for a kind of a double top and now we're trading a three 106 That's a peak e the five-minute chart peak e pull back into a sell mode right now both Two-minute chart from the five-minute chart on sell mode the the ten-minute chart I use what I call a phantom peak and has gone to a d that's pulled back And now we're going to see because the mac d hasn't crossed negative yet But the price has gone underneath two key moving averages So we're going to watching this now for me. It's really important I'll just lay it on the line because I mean if you don't if you don't look at markets and try to trade your methodology as consistently as possible, then you're looking at some kind of a problem in terms of Reformulating your methodology. You don't want to price fit or form fit. You want to just do what you did So, um, let me just show you there's a pattern that I call the drop Drop bucket pattern. It's a cup formation that goes through a d e or f and then it tries it pulls back Having a long move to the upside pulls back just modestly Then it tries to really make the cup formation if that right side Fails to take out the left side. You remember the inverted y formation. Let me just show you right here That's this pattern right. Whoops. It's a wrong thing Um, didn't mean that I meant this That's this pattern right here the the reverse y If the if if it fails to take out the high or if it just takes out the high But on the downside, I've got the mag d the moving average convergence divergence stochastic failing That's this be careful. You've got no energy to the upside. There's no confirmation. Well, look what happened here in the euro It makes a high back around the 14th or so But sorry 21st at 1.117 pulls back That's pd under the 200 period moving average It pulls back to the 14 period moving average of the black now 1.107 And wait a minute it routers all the way to a little mini double top between 111 1.117 5 and 11 0.75 again And then look at the magnate the magnate suddenly turns down stochastic never confirmed that rally at all And then plummets down and goes to a low yesterday of This is the euro dollar currency pair and it goes down to 1.0989 Now it's trying to rally it stopped at the pink line that the nine nine period exponential moving average On winner crosses the black line changes color to pink on the way up it goes green And the next level of resistance is 1.105 and yet you've got the h pattern The one was Unsuccessful with the doger candle in the weekly there a minus plummets down takes out the left side low Starts all over again. There's another a is this going to hold or not? Well, the monthly chart is saying wow the magnate is Not good and the stochastic is flat at 10 percent It's going to be price in the dating weekly that really helped the monthly until it gets to 1.123 Um, this monthly chart is going to look poor and if you look at the usd jpy this is the Yan dolly yen currency pair it made a peak e With a down arrow with a doji top and it's trading at 108.74 Up point three three right now and ugly candle yesterday is trying to recover But look at this the look at the power of this 200 period moving average How it acted as a fulcrum up and down it keeps coming back to the 108.76 area because that's the fulcrum line Until it breaks out the size of me into the 109 70s on the upside or below 108 10 on the downside let's just say this h pattern right here the low 107.89 if it takes that out Downside that's not going to be good. So Now I want to so that says this 200 period moving average of the weekly chart is like a magnet to 109.49 It starts leg d if it can go over 109.488 And the monthly chart says hey, it's just stuck in a range. US dollar Japanese yen just stuck in a range I had a question about the gold. So I just wanted to say in terms of the gold If you are long, but you've been long from two days ago I would just say be careful put a stop is at 1465 use that as your benchmark because if it starts to close at 1458 it says, you know, there isn't any strength It's going to be pulling back quite a bit. Yeah for any reason or sunday night monday There's some news over the weekend and bam you're looking at 1478 1482 That's the action you want to see if you're long nugget if you're long The gold if you're long the gdx gdx trading right now Not a bad candle a little green candle, but you can see the 14 period moving average of back nine resistance Stuck is down nine Cents at 2691. I just think it's stuck in a range. Look at this the week each other low lows and lower highs Nothing to see yet. They will be later on because I think you will go to a leg d above 30.96 I'm not sure it's going to be just right in this time frame now I need to talk about a couple of things that are really important based on what I'm looking at As I say I have no problems talking about what I do right and what I do wrong If you don't talk about what you do wrong It means that not not only are you in denial, but there's no learning experience You want a learning experience if you make a mistake you have to say hey, that was a mistake and as a result Um, what did I learn? So what we what I wanted to mention here is that we are uh for my subscribers some opening call We have some really nice long positions. They do very well But at the same time We did go short the smh's Um At let me I just said exactly what it is. So I'm giving you the facts as they are written started short at 132.38 Uh 135.08 buy stop. I wanted the the buy stop to be kind of tight um less than 2 because I when I've got it right on the semiconductors. I've got it exactly right when I'm wrong I'm wrong and I I don't want to fight the tape and this is what I mean by fighting the tape In the smh's I'm going to switch a little bit if you don't mind because I'm demonstrating here This gap to the upside and holding it had 135 26 is the high just 20 cents above the stop that I had I don't if I'm wrong It says that this mag d instead of turning down which we would have done very decisively today if there was weakness Instead of being up 2.01 and 13495 the semiconductor index smh if it was even 132.70 right on the nine-period green nine-period moving average That would have suggested that that mag d started to turn down for the very first time since it broke to the upside Back in mid-october where the where the smh's went from 120 bam right to 121 And they just never looked back and kept going higher. So that was my thinking Um the weekly chart is still very strong monthly charts and they exceed very strong. So this would have been a pullback That would have suggested that there could be a pullback towards the 129 127 area Now that it's gone this high I have to do work over the weekend which I sent to my my subscribers over the opening call and and show them That there was um, there's a pattern that I call the chamois stalk leg formation And that's this oval pattern and when you break to the upside off the long move that's this is the leg This is the body this is starting the neck and then the beak usually comes back and goes into the body if it goes into the body And then rebounds that can be very powerful But if it goes into the body and then takes out the left side low and the left side low is this Right here in the oval pattern. It's this low right here one 30.97 It can go a lot lower or if it didn't break out to the upside it would have been this arch formation that says uh oh Sorry to show weakness, but that would only happen if you've got technicals Pulling back and they're not right now. They're holding they almost did but the holding of the stochastic at 88 percent Vessel chaplain tiger missions are i'll be right back and we'll talk about our webinar coming up on tuesday 19th at five I'm certain you are or strive to be one of the best of the best at everything you do in life It's the most common trait that we tigers and tigers share If you're looking to become the best of the best when it comes to managing your money Let me teach you to do what most wealth managers tell you can't be done, which is how to time the markets I'm steve rhodes author of mastering probability and for the last 12 months timer digest has been tracking my newsletter signals Which have earned me the ranking as their number one market timer in the nation for the s and p 500 for the last 12 Six and three months timer digest also ranks me as the number one market timer for gold as well The fact is markets can be timed and i'll teach you the exact set of tools that i use that has transformed me into one of the Best at what i do sign up for mastering probability today by clicking on the newsletter tab on the homepage of tfnn.com And get immediate access to workshops where i take you step by step How to use an extraordinary set of tools as well as provide great market calls to sign up today If you haven't checked out the newsletters page of tfnn.com What are you waiting for all of the tfnn newsletters are informative up-to-date Affordable and must have for every trader looking to gain a competitive informational edge in today's markets tfnn newsletters cover every aspect of the markets to offer you the very latest in market news Plus new subscribers get to test drive our newsletters risk-free for 30 days From all aspects of the markets including stocks bonds metals commodities and tech There's a newsletter to fit your needs exclusively from tfnn Stay informed each day you trade and get the competitive edge that will help you stay ahead of the game Visit our newsletters page by going to tfnn.com and click the newsletters button near the top of the page tfnn.com educating investors Basil Chapman has just announced a live 90 minute webinar He'll be conducting for subscribers to his daily trading newsletter the opening call Which will be taking place tuesday november 19th from 5 till 6 30 p.m. Eastern time Titled a comprehensive review of the Chapman wave techniques and market outlook ahead for 2020 This is a great time to sign up for a 30 day free trial to the opening call while gaining access to basil's live subscriber event Taking place later this month with some stock picks up 15 to 30 percent this year alone Basil will review many of the Chapman wave techniques that helped in their successful analysis As well as providing the sectors and stocks that he thinks will be of importance heading into 2020 For all the details check out the opening call on the front page of 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 So folks If you're interested in this these charts and the formation single this U shaped formation in the natural gas Made a slightly higher high and now it's pulling back making a cup and handle formation But the technicals are actually quite weak in the in the daily and the weak each one is it needs to hold The two point I would put it right here 2.58 area So these are the patterns that we're looking at all the time in my show coming up at noon A couple hours from here. You will see these charts in my tiger technicians. I'll do that and I'll demonstrate a lot of it This is what I'm going to be talking about very simple techniques You can use you can add to whatever it is that you're doing so that it just gives you a kind of this black line Look how nicely it gives you the support level. Look at that resistance. It's a 14 period moving average Look at that 14 period moving average support there and the nine period moving average is giving you the kind of springboard That says right here is your your initial start, but that it's a real serious cushion is is over here I mentioned the den the rustle this week. This is an important day So what I wanted to say is that the dow how we close today and how we start off next week is going to be really important I would have suspected if all this good news is going on We should be more than 86 points up in the dow. We are still sure we run a short position and In the dow about 180 points lower. We'll see what happens Haven't got it close yet to the start well fairly close but not close enough So I'm looking at this. I'm saying starting to run out of energy Let's see how you go for the next couple of days, but I'm not going to fight the tape if I'm wrong Very quickly. We'll have to switch positions and look at the upside. We've had some really nice stocks I'll show you this using this methodology of the cup formation because a chaplain wave cup and ladle That should go to a D. What do we do? We go to a D. This is bd si But I had also shown this chart to subscribers I said this thing made a high of 18.48 in september by delivery sciences of 2014 come down to 150 But look at this beautiful cup formation. It's got a left side right side price time match to november That's let's buy it and see what we can do. So we bought it the six five 17 area in october the 23rd Hit a pd at 645 right there at the resistance of 640 that we had looked at These are the formations that we look at all the time. Do they work all the time? No, not everything does this one did So tune into my show at noon and remember I've got a webinar coming up Tuesday the 19th Check the front page of tfnn and have a great day. Have a wonderful day Say two for tom and tomy coming up and then it's a think of swimming and I'm on at noon Then sea roads day white and then tom and brine. Have a great day