 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'm going to go through some of the things that we sent out on the video last night. I'm doing this for two reasons. One is educational and two and also it's to show you what you can learn to do and we're going to be doing these types of trades on the 15th of November for our all day trading session. But here was the crude oil last night. There was the high from Friday on the 25th. We said look for 382 retracement that came in at 83.36. The high was 83.37. We're now trading substantially below that. Another one that was very, very interesting and was quite good was let's get the old Euro up here. Let's get this up here so we'll be able to see it and hold on one second folks. These darn things are so sensitive that there we go. There's the Euro. This is an hourly chart. There was our ABCD pattern right up here. Just really spot on if you moved it over a little bit to see the other low back in here. All we were doing was making a retracement here, but that was a really nice ABCD. You had several. You had the ABCD pattern here, the ABCD pattern here, and then finally you had the big ABCD pattern that was right there. It took you right up to this high and then of course you can see we've dropped almost, we've dropped 100 handles. That's a big move to the downside. Where we're standing right now is we're sitting right at the 78% level. We just missed it by a couple of pips just a few minutes ago, but that's where you're going to be watching. There's the final ABCD pattern coming in here. But look at this. This is an hourly chart, but after the big bar up, you could wait and still get in. You still had a really good chance to get in without risking very much. That's what you're looking at on that particular one. The other one that we had that was pretty interesting, hold on one second, was the Dow Jones E-mini. Let's get this up here because we had a big move here. You'll see how high we got here, but let's go to the hourly chart because you're going to be able to see where we were going to put this over here, which really amazing folks. In fact, that's what this thing did. Look where we were way back in here in the middle of October, folks. What we did, and what we did, if you like those 382 patterns, there's your high, and there's where you came down and you went right up to your 382 and dropped 300 points. Then you came down and let's see where we stopped on the way down. If this is an uptrend, you know what it's going to do and what did it do? It stopped almost exactly at the 382 and now we're moving back strongly. That's another one that looks really interesting. Then finally, I want to show you one that we didn't have on the boards, but if you like ABCD and we certainly do, here's your gold chart. This is a 15 or 13 minute, whatever you decide to look at, but there's your early morning low, there's your high, there's your low. If you were to measure just a simple ABCD pattern on this, you're going to see it takes you right up to a 15 and a half. The high was 17 and a half and it dropped $2,000. It didn't quite make it on the way back up. You'll see that it didn't quite make a 382 retracement. It missed it by about a half a dollar. That would have been a really nice one. That's just a half hour rally and you had to have your order setting there, but it didn't get there so there's no way you could do it. However, time is still up on this. If you go from your high down to your low, you still might be able to take a look at it right here because now you've got an hour in here to look at it and what do we got? We've got an ABCD pattern forming. As we're on the air here, we've got Jeff Hughes as our guest, but now we've got a really nice potential here and that's up $5. That's a $10 rally off of the bottom coming right at the 382, at $004, $2004, stop would be $2007. That's certainly an acceptable risk in my opinion if we get to that level. Now what we're going to do is we're going to put our little beeper in there just in case we get to that spot and then we're going to take a very, very close look at that. Now we also had one that didn't work. I have to show you the good ones and the bad ones. Let's get this up here so we can see here where we are. Just up here one second here. We'll move over here one second here. Get this out of the way here. Here's where we are right here. We were looking for the 382 on this big move right here to come in around 45, 345. And as you can see here, there's where we were early, 344 and we went through there like it didn't exist. Your stop was here. That was a quick $400 off of four points. You have $400 loss right here. We kept going higher and higher and higher, but that was one that didn't work. We would have been a seller right here for several different reasons, but you can see the 382 is the main one and it just didn't work. It just kept going out. So three of the four worked and that's what the game is all about. Sometimes they work, sometimes they don't. We don't know which ones are going to work and which ones aren't going to work. That's for absolute certainty. Okay, now let's move on here and double check something else because what I'm going to do now is I'm going to switch gears here. I've already showed you the chart of Apple, but I want to bring up the chart. There's a potential trade coming up, folks, and I'm bringing this to your attention because we're going to do it two different ways. This is the Canadian dollar, okay? This is the Canadian dollar. This is the futures. This is the December futures. This means the Canadian dollar is dropping for the US dollar. What that means, you can see here, we've got multiple confirmation here on this daily down here, another 40 pips lower. You can see those numbers we got in here. There's a buy point that I'm looking at right there. That's 07165. That's about 40 pips from where we are right now. That's double A, B, C, D confirmation. Now you say, well, how could you do that? Well, I'll tell you how I could do that. If I can do that, I can turn this thing upside down and do that because that's what it was doing upside down, folks. Just take a look at this. There's your A, B leg right here. There's your C, D leg right here. If I can turn this thing upside down, why can't I sell this? I'm going to put a stop in. I don't know what's going to happen next. These are just the same thing. These patterns, they're both A, B, C, D. One's A, B, C, D on the downside. The other's A, B, C, D on the upside. I don't know what's going to happen next. The good part about this, folks, is nobody else does either. So that's the real key that we're looking at. Now this is the December futures. Those of you that are new to trading, I highly recommend trading the futures on the Chicago Merc & Teal Exchange. The reason why you can go in there and you can trade, first of all, you don't need a $50,000 or $100,000 account. Most banks used to be a million dollars, but they take much smaller accounts now because they need a business. But if you trade at the Merc, you're trading a futures contract and your commission is set. You pay $4 for your commission, no big deal, sometimes $5. But if you trade in the forex market, they're going to charge you usually one pip, which is $12.50 or $10, depending upon the amount that you use. You're going to pay a lot more commission unless you trade large size and then they narrow it down so you get a much, much cheaper price. So that's very good, easy to work, good volume. As long as you're not trading more than 50 contracts, it's not going to be any problem at all. Now, this is the future. So what we're going to do now, let's see what our time on the walls is, how much time we got. Oh, we got to pay a little break here. We're going to come back. We're going to finish up here with this Canadian dollar because it's a potential trade setup. Boys and girls, we'll be right back. 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 award in 2018 and barely missed that mark again in 2019, finishing it 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 7 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. Are you ready to take your trading to the next level? Introducing Tom O'Brien's award-winning newsletter Market Insights. Your key to successful active trading. Tom O'Brien, renowned for his expertise in the financial markets, has designed Market Insights to be your daily guide to profitable trades. Tom publishes his daily Market Insights newsletter every market day before the market open, along with updates when warranted. Stay ahead of the game with Tom's real-time analysis and trade recommendations delivered straight to your inbox. Whether you're a seasoned trader or just starting out, Market Insights provides the edge you need to navigate the markets with confidence. Ready to join the ranks of successful traders? Head over to TFNN.com and subscribe to Market Insights today. Don't miss out on this opportunity to supercharge your trading results. Market Insights comes with a 30-day money-back guarantee for all new subscribers, so you have nothing to risk. Don't miss out on this opportunity to revolutionize your trading game. Head over to TFNN.com right now to join the thousands of traders who have already experienced the power of Tom O'Brien's award-winning newsletter Market Insights firsthand. TFNN Educating Investors. 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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. Now toll-free at 1-877-927-6648 internationally at 727-873-7618. Okay folks, what we're going to do now is we're going to look at the U.S. dollar versus the Canadian dollar in the foreign exchange market. This is the banking section, the forex, okay? Now you notice up the left-hand corner that means the left-hand, the first part is the long part. That's the long dollar short to Canadian. Okay, so they're expecting the dollar to gain against the Canadian. Now all we did here, I was drawing this in to show you the ABCD. Now we had a really nice setup as far as, on a shorter term basis, let's get this up here. So sure we can see it together. Okay, there's what we were looking at. From your low to your high, it was 11 days up. So all I did was to clone this to see what 11 days up would be. And I moved it over and that took us here on Thursday. Now here we are Friday, Monday, Tuesday, and the reason why you can't sell it there is because of these two big daddy rabbits up here. That's the number that we want to see it to go higher. We need it to go up on another 60 or 70 pips. If you remember, the Canadian dollar to the downside, U.S. dollar to the upside. This would complete this. One is the versus of the other. I do not know why the foreign exchange market for the Merck makes these the opposite of what's traded in foreign exchange because this is the real market. But they did this back in 72 long before I was at the Merck and Byron was there at that time. He was there 10 years before I was. He was just a little kid when he started. I think it was 21 when he worked for Lee Ong LaLamban and they made some of these like the N and the Canadian in the opposite directions because they wanted, believe it or not, they wanted the U.S. dollar to be the king. And so that's why supposedly they did that. I don't know the reason, but this is what we're waiting for. This is we're waiting for the number in the cash market is a 71 61 and I'm risking 60 points on that, which is $600. So and if it's right, it should have a pretty good move, but this is no different what we're looking at. Remember that beautiful ABCD we saw on the upside. There it is on the downside. Same type of thing. So we're waiting for that to line up. That's a trade that is due to happen to probably not today, but tomorrow with the Fed out there, the Fed could be enough to make the whole thing really, really move quite a bit. So we're going to be watching it. All right, now let's move on here for just one other thing. Someone's had a question here about the gold market. Hold on, gold's going down some more. So it's not going to be able to see gold just made a new low. So that means that 382 is just not going to happen. That's what's telling me that from that level here. So keep a close eye on that one right here. We're still we're still dropping. So what you do on that case is you want to you have, you know you have a higher 382 so you'll still want to watch it, but you don't know, you know when it's going to be as it makes a new low here. You see the low so makes a new low. You've got a new 382 coming in. And that's what you want to be watching here on this right here. There's a new low. Wherever this low is, watch for the 382 up. That's what you have to do. And it's a short-term indicator, but by golly it has some pretty good pretty good things to work with. Okay, now let's move over here to the S&P because we have a pretty good idea. We had a pretty strong market coming in here. Let's just get the hourly chart up because we want to see what's happening with this so far today. There was the action we had on Friday. Remember there was our solar eclipse down there. We had the first move up as you can see that was to this spot right here. Okay, that means the move down right there. You'll see I believe we went right to the 50% level. What we're looking at here is we're going to try to find out what the high should be today or tomorrow. There's your 50% retracement right here. Okay, so that's our first ABCD pattern coming in. You can see where it's going to go 42-22 and we're not far away. We're only 20 handles away. 20 handles is this distance right here. So that's not very much. So if we take the ABCD pattern right here, ABCD there we are right up there at 42-15. We've got another one coming in here. You can see that's going to take us up pretty much to the same level. 42-15 and we got another one coming in right here up at this level right here and we're going to bang by the boom somewhere between 42-05 and 42-15 to 42-22 we stood should start to roll over. However you have to pay close attention to this move right here folks and the reason why is look how many hours it took. You see the hours that it took. This only took two hours. This one took three hours. This one took ten hours. So ten hour move is a big move, right? Now let's check out of the thing. Yes Johnny, I'm going to cover the 382 in just a moment but there's where we are. The market goes up. We're just going to take this out and look at it. I can get rid of this and just a heartbeat. Hold on one second. Okay, here's what's really happened. Here is the ABCD of course and we think it's going to go there but there is your big move down. Now if this is a 382 and folks I have not checked it going to right now there's your low, there's your high yes Johnny, I see what you mean. Maybe you're on to something Johnny and that means we're going to get to 42.44 without too much trouble in this run and remember this was the low that we thought was going to happen with that solar eclipse come in there because on the daily chart there was a lot of stuff in there to tell us that that was the big daddy rabbit down in here there was your 1.618 number right there, 41.14 the low was 41.22 so that's pretty close. Now we're having a pretty good rally in here is what we're watching here so far today. I hope that helps. I want to take a quick look here at the old Bondolis and the reasoning before that is or because of that is we want to get up here to see what's going on here. There's the bonds now we got the same situation going into bonds we've got the Fed out there tomorrow right everybody knows they're going to do something and they'll probably do nothing that's what they've been doing for the last few months is just talk about it but this is a really nice setup folks for a five day rally there's October the 26th we got the bed coming in tomorrow and what do we have to look at this is what we this is what I'll do in the videos like for tonight I'll pick this ABCD because it's a very clear one to see and there it is right here we almost got there see we're almost up to the level right here now what the other thing you want to check now is to go to your hourly chart go quickly to the hourly to see where the 3A2 you can see the ABCD coming in here right now you want to check go back and see where the 3A2 will be and look what we have back here all we have to do now is to go down to here delete everything and then just take a look at it we've already made the 3A2 you see we've hit it and we've backed off quite a bit we've not quite made the 50% level but there's where we're going folks there's your ABCD pattern coming in here you can see it right here there's your X pattern right here there's your A leg okay there's your B leg there's your C leg your D leg is most probably going to be right here up about two handles at one 1185 now one other thing you need to do is to go back a little farther because 1185 could be something significant from farther back I mean way back here for that we need to go to a four hour so we can see a little more data and we'll move that over oh we already had that drawn in so we just draw that over like this and that would be right there there's the big 3A2 right here that's when the Fed acted the first time so that number comes in at a little bit higher here at 1245 so you got two places to look folks 1245 111 75 those are two numbers right there by the Bing by the boom this is where the chubby Italian boy plays the game in this area right here okay stay tuned for a higher opening we'll have Jeff huge on in just a moment and may God bless 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 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 dot com for stock patterns you can take advantage of sign up for the Fibonacci 24 7 newsletter at TFNN dot com when you subscribe you'll get a weekly report from veteran day trader Larry Pezzavento on 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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 8 different shows with expert hosts to help you make the right moves with your money watch online at TFNN dot com or on TFNN's YouTube channel and become the investor you were born to be TFNN educating investors don't forget you can listen to TFNN live on your mobile device 24 hours per day go to TFNN dot com then hit watch Tiger TV that's TFNN dot com then hit watch Tiger TV okay we're back folks and I believe we have Jeff huge from Alpha Insights on our line today Jeff how are you doing today I'm doing great Larry how are you I'm living the dream my friend I'll tell you one thing that really surprises me with everything that's going on in the world war there is no fear in this market at all I mean it's come down very orderly it doesn't make any difference how many rockets red glare over there the market seems to want to rally so eventually it's going to catch up with now your first chart here you're saying that the advisor sentiment still is quite elevated is that correct yeah I'm in agreement with you with your point Larry I don't think there's a lot of fear in the market and you know the most influential cohorts out there is the advisor the person who's advising investors right people like me who are writing these letters or research reports from their clients and you know I participate in this survey I should say and you know there's hundreds and hundreds of people just like me that they're surveying and taking this data from and you know when you look at the bulls divided by the bulls plus the bears so you know as a percentage of the entire mix of potential opinions out there we're at about 67 percent bulls on that ratio that is quite elevated normally you don't get down to you don't find a bottom in the market until you're down below at least 60 percent and most of the time it's closer to 50 percent so I think that we still have quite a bit of bullish sentiment despite what you hear you know in the financial media and a lot of commentators out there talking about all the fear in the market it's not really showing up in the VIX too much either which turned down again and is now below 20 percent as we speak. Okay let's move on to our next slide and that is the structural down this doesn't look nearly as bullish as that investor sentiment thing so what are you looking at here I mean it looks like the value line in the Russell have already turned substantially lower. Yeah you know the Russell 2000 down 33 percent from high I mean we've lost a third in the market cap in that 2000 stock index now a lot of people don't think that the Russell 2000 matters much because you know Apple for example has a market cap that by itself is greater than the entirety of the Russell 2000 index get out of your company that make it up does it really believe but you know it's it's also quite possible that when Apple reports on Thursday that could change we'll find out right my my real issue here is that you know when we take a look at the pattern itself we can see that this is breaking down below key levels we've broken a trend line that has multiple touch points we've broken the 200 day moving average and the 200 week moving average and the 200 day is actually broken the 200 week so I think those are really critical levels that are widely observed by institutional investors and they are probably not too excited to own small cap stocks right now and so I think that is lending to continued selling pressure on the indexes with respect to the Russell on the left hand side once we take out those July October 2022 levels that would be new bear market low territory on the right hand side we're looking at the value line composite Larry this is 1700 stocks and it includes Apple and Microsoft and the rest of the magnificent seven but it equally waits them and if you take a look at the very broad market this market accounts for 90% of the revenues generated by publicly traded companies in the US this market is breaking down and it is only a percentage point or so away from its October 2022 lows a breach of that level would put the bear market back on back on the table I think for the vast majority of the stock market you know Jeff when they when I first moved to Chicago in 82 January of 82 because I knew the S&P was going to be trading in April of 82 it was going to be pretty big but the value line was huge I mean it was much bigger more popular than the S&P 500 the value line and also the there was a Kansas City index at one time that was that was really really popular but none of those S&P and the knife started trading and then eventually Dow Jones everybody forgot about the value line index that's absolutely too bad isn't it yeah well it is I mean it shows if they don't is that come out of Kansas City do you know so that's what it was it was a Kansas City value line it was a spread between the NASDAQ and the Kansas City value line that was really so big the value line and the NASDAQ was virtually nothing and that was that was the big spread go along and NASDAQ short the value line and you'd still be clipping coupons for the rest of your life let's move on to the next one here and see what we've got here this is the long-term trend model oh this is really it's definitely turned lower hasn't it it has see we look at the S&P equal weight index to determine the trend of the market and we're looking at this one's a slower baseline moving average to basically you know manage where we think trend is that's in red and then we use a faster signal line the green line to determine when there's a trend change and when green crosses below red that indicates the trend has turned negative on a long-term basis when it turns up above red then it has turned positive well we've had this you know up and down for the past couple of years and we've had this trend change and we've had this trend change as the market really hasn't been able to decide which way it wants to go but we've clearly turned down again here in October and it looks to us that this one this one means business it looks like we're going to carry further and if we take out those October 2022 lows much like the value line in the Russell I think it's all she wrote I think the way later here Jeff let me play the advocate here for a second you know because I when I watch the news I have it on mute I like to just to see what the headline is because I can't stand listening to these people either bulls or bears Republicans, Democrats make no difference to me but what would be a trigger mechanism would it be Iran coming into the war or what would what would straight possibly Taiwan something like that would be a good name of your company alpha insights huh might want to think about that anyway you do have a good handle on that do you have anything that you that you have as a possible black swan I think all those things are on the table as possible you know having a catalyst effect but the one that really stands out to me is long-term interest rates moving much much higher most people believe that the next big move in rates could take rates up to around 10% over the next decade and if that were to happen I think that's really what's going to change. I would concede that you know once we've hit this five five and a quarter area that I've been looking for for a while we should see a nice pullback in rates to around say four and a half or in a quarter just as a correction off of this big move from half a percent over 5% that's really what's going to change the mindset and open the trap door and it doesn't have to get to 10% I think a move you know significantly above five you know I'm kind of a breakout looking out over the next 12 months once we pull back that will be enough I think to really kind of get people to open their eyes this little lovely little area where I live here in Tucson we have 80 homes that are built back with Jeff huge alpha insight you won't have to listen to me anymore you can listen to Jeff some more we'll be right back eight seven seven nine two seven six six four eight. You might think that if you want to be successful at trading in the stock 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 the 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 in stock prices get the opening call newsletter by signing up at tfnn.com 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 are you ready to take your trading to the next level introducing Tom O'Brien's award winning newsletter market insights your key to successful active trading Tom O'Brien renowned for his expertise in the financial markets has designed market insights Tom publishes his daily market insights newsletter every market day before the market open along with updates when warranted stay ahead of the game with Tom's real-time analysis and trade recommendations delivered straight to your inbox whether you're a season trader or just starting out market insights provides the edge you need to navigate the markets with confidence ready to join the ranks of successful traders head over to tfnn.com and subscribe to market insights today don't miss out on this opportunity to revolutionize your trading game head over to tfnn.com right now to join the thousands of traders who have already experienced the power of Tom O'Brien's award-winning newsletter market insights first hand tfnn educating investors biotech is booming but for how long whether you think the biotech bull has room to run or has run its course trade L.A.B.U. or L.A.B.D. directions daily S.M.P. for the next week the directions daily S.M.P. biotech 3 times bull and bear ETFs visit an investor should consider the investment objectives risks charges and expenses of the direction shares carefully before investing the prospectus and summary prospectus contain this and other information about direction shares to obtain a prospectus or summary prospectus please contact direction shares at 866-4767523 or summary perspective 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, Foresight Fund Services, LLC. This program is brought to you by Vista Gold. Traded on the NYSE American and TSX under the symbol VGZ. With Jeff, huge outfit inside. Jeff, the little area where I live here in Tucson up in the foothills up against the mountains. There's 80 homes and there's none for sale. That's the first time in 20 years. My real estate guy, I see him all the time. He said, there's nothing for sale. And I said, is that because no one can afford to move? And he said, yeah. So evidently, if mortgage rates are so high, they just literally going to have to spend three times as much or twice as much to buy a new house. So I guess that's a reasoning behind it. But real estate is way over my head. He gets part of the problem, honestly. Yeah, I think so too. You talk about a financial crisis. This is our black swan that we're looking at here. But if that's an ABCD, you're looking down here at about 240, it looks like to me. At least, at least. Honestly, this model I created back around 15 years ago in 2008 during the great financial crisis. There was something that I was watching that kind of alerted me to a change. It seeks to identify periods of financial stress based upon the relationship between a basket of highly economically sensitive risk assets and a basket of key interest rate proxies. And the model history is pretty limited, like I say, but it did generate two pretty timely signals. One was in January 2008, which indicated, it was a bearish signal, an indicated sell. And the second signal was a bullish signal in May of 2009, which was basically the all clear. Now, the model also just confirmed the onset of the 2022 bear market in March of 2022, March 31. It's a month end signal. And what we've just witnessed today, because today's the 31st, and we'll get another confirmation on this at the close, that we just broke below what was kind of the intermediate term signal line, confirming that we've got a new heightened threat of financial crisis in the months immediately ahead. And the model is basically saying, sell. Now, what could that crisis be? I think part of it is what you described with mortgage rates being up about 8% right now. It's basically frozen real estate markets around the country, not just residential, but commercial as well. And we're starting to see even big trophy office properties. You know, the guys are just dropping the keys off at the banking and walking away. That's occurred in San Francisco, LA, New York, and Chicago. And, you know, it threatens many other cities. And we've got about a half a trillion dollars worth of commercial real estate mortgages that need to be refinanced over the next 12 months. And most of those will basically default because they're taking about a 20 to 30% haircut on the value of the collateral. And they're also getting a lower leverage ratio. They're not getting an 80% leverage ratio. They're getting a 60% leverage ratio. And so, you know, they just obviously can't refinance it. Plus, these towers are empty. And it's not just office towers. It's retail. There's a lot of different areas. Healthcare REITs are having problems now. Multifamily are beginning to show stress. The only thing that seems to be working is storage and industrial. And, you know, those are very long tail sort of contracts. And people have to put their stuff somewhere. So they're putting it in storage when they get vacated from their offices. And so I think this is a big, big potential problem. And it indicates to me that we're going to have a liquidity crisis. And once we do have that liquidity crisis, I think there will be literally no bid for financial assets of any kind. And that's the trap door sort of issue. And I think it's driven by interest rates and, you know, the collateral and real estate market. And so, you know, it could be as simple as a recession, Larry. Everybody's now betting that we're going to get a soft landing. And I think we're going to get a hard landing. And I think it's going to be a deep prolonged recession. And I think investors should prepare for that. All righty. Let's take a look at the next one, which is the cycle stuff that we like to see. And it looks like you're looking for a low towards about Thanksgiving. Is that correct? Yeah. Just after Thanksgiving, we get, you know, two more Montgomery cycle turn dates here. And, you know, the cyclical forces, if we look at the cycle composite, which is the one year seasonal, the four year presidential, the 10 year decennial cycle, those all bottom in late November of this year. And then we've got a Montgomery cycle turn date that occurred on Saturday with the lunar eclipse. And that marked the low of this wave down, in my opinion. And so we should see a rally that could carry as high as say the 200 day moving average. You know, I've got some levels that I put out there about 40 to 40 to 43 25 is kind of the range. But I think it's going to be on the low end of that because this is going to be a fourth wave, which tends to be more of a lateral consolidation. And I think it could carry into the November 13 Montgomery cycle turn date. And then we should see the final plunge to the downside. And I think that could carry the index all the way back down to the March lows around 3,800 on the S&P. And that should occur on or about November 27 to end what we've identified as intermediate wave one down. Wave two will be a countertrend advance that could carry all the way back up to say 40 to 43 hundred. And that would be your year end rally, right? And that may carry into say the early weeks of 2024. But we think wave two again will will end and that'll be followed by intermediate wave three, which will be a third of a third wave decline. That'll be a third wave at intermediate degree of trend and primary degree of trend simultaneously. And it could be the washout event. We're expecting that the first quarter of 2024. Wow. It's really good dates. We're going to be watching that. Let's move on and take a look at your newsletter. Tell the folks this has been all roads lead to Rome. Boy, that's a great place over in Italy. There we go. A lot of positive feedback on that one. That's last month's newsletter. The next publication will come out on this coming Saturday, November 4. And, you know, our newsletter is kind of a big picture macro think piece. But for those who want more, you can actually become a paid subscriber for $12.50 a month. And you get access to all of our market forecasts on the stock market, the bond market, all of our positioning ideas, stock ideas, and lots more. We send out a weekly publication as well to our paid subscribers to give them kind of an interweek update on what our market thoughts are. And, you know, we get a lot of positive feedback. We have almost 1,000 subscribers now, believe it or not. Shut the front door and raise the rent. That's, you know, you should have 10,000 as good as you are. I mean, you know, really, I've seen a lot. And let me tell you, buddy, you do a great job. I mean, but 1,000 is a real feather in your cap. That's fabulous. You know, so I'm a lot easier than you. I've got three people that follow me. But my sister and my aunt don't always subscribe. Sometimes I'm by myself. Who knows? Here, tell the folks how they can reach you, Jeff. What's the easiest way? Yeah, absolutely. If you want to check out the newsletter, go to hugeinsights.substack.com. And you can just plug your email in. It will be delivered to your email box on Saturday. You can also follow us on Twitter at alpha underscore insight or check out our website at www.jwhinvestment.com. Awesome, my friend. We're going to have you on again soon. Thanks. They've been pretty good in the past. And this is the one on the Eclipse certainly worked well. And we're going to be watching the one on November the 27th coming in at about four weeks from now. So thanks for joining us, my friend. And we'll see you in a few weeks. Okay. All right, Larry. Take care now. Bye-bye. You bet. We'll be right back, folks. If you're looking for potential trading setups in the stock market, then Rocket Equities & Options Report is a newsletter you should try. Daniel Bryan delivers options and equity trades when the markets present them using a combination of fundamentals and technicals. Sign up for Rocket Equities & Options Report today with a 30-day money-back guarantee so you have nothing to risk. 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You'll see the hide that we made here two days ago on the 30th, that was the 3-8-2 lie that we made back on the 24th. That was that, and that means that we have an ABCD set up on that one. I'm going to go very slowly because we're getting up to some real important numbers here, folks. There's your AB leg right here, there's your CD leg right here, and that takes us up to this level here, 42-15. The market came down. This is a six hours. If you remember, we did the hourly chart on that. That was the 3-8-2 of the move from the downside. Let's get rid of this so you'll be able to see it and hold it from that low up to the high. We went right to the exact 3-8-2 spot on. That means we've got an ABCD pattern here that we must pay very close attention to, and that takes us up to the Big Daddy Rabbit 42-44, but there should be some resistance here at 42-25, folks. The reasoning is you've got two numbers here. Let me move this over, get it a little bit here so we can see it. You have two numbers here. You have a 61% retracement right there. You also have a 1.618 expansion on that too, so that's why I've marked that off so that we could look at it together. But I think this is where we are going to go 42-43, if not today, probably tomorrow, but we've got two hours to go so we could easily make that. We're very close to making this small wealth. I think we've just made it just now. We just made this last little ABCD pattern just now. For those of you that want to venture into the old short-selling mode a little early, I wouldn't recommend it, but see, the old low was 42-04. You'd already be out. You're going to go at least to these levels right here, folks, 42-14. Let's take a break and see you tomorrow. Our guest tomorrow will be Mike Moore of Moore Analytics, so we'll live every day in an attitude of gratitude and may God bless.