 The following is a presentation of TFNN the morning markets kickoff With your host Tommy O'Brien Good morning everyone Basel Chapman sitting in for Tommy O'Brien got a little conflict there And I said okay. I'll have a good time I'll do it because I've done most of my done my work for my subscribers sent out my newsletter just preparing for the rest of the day Yeah, we go the down close to 35,215 yesterday it rolled over from I should do this I forgot all about that. Let me just get this ready because there are some of you that perhaps have never seen my work So in the Chapman methodology, it's just a real simple concept that was introduced By the charts that I was notating hand charting with pencil and paper and engineering paper way back Before the computers started doing this so easily for us But I found that after the fourth highest peak from a low bar other things could happen The objective really was to see and I call this a technique that I developed called it was a seven-wave form thinking Look at the start here. You've got the low bar and then you go one two three four five six And on that seventh leg up you get your leg the eighth leg down is peak D. I found That in fact prices kept going I did it with a price a closing price chart And then I found that after D you could go to E and F and even a G So there was seven letters is like a musical in my music for those of you know the piano you've got You've got ABCD EFG and then you have to start again. There's never an H. It's like a quadrant You've got your four your four notes at the beginning there four notes at the end halfway point So in a sense, it's got a little bit of similarity. That's about the only thing similar except I used to be a professional musician and people used to say, how do you get into this? What's the what's the what's the connection between the market and music? I said one word timing So that's in essence. We're trying to time everything in music. You've got to be right on the beat Well, sometimes you have to be right off the beat, but you have to be exact And in this particular instance, it's the same thing You want to be able to do a technique that identifies lows identifies highs and gives you a little bit of a cushion so that when there's that After a big bounce, this is kind of a system to this kind of wobbly action before it picks up again for another mover You want to be able to have a stop in so that you don't get taken out? All right, so this is the idea peak abcd the fourth highest peak you get upgraded from about a b If the technicals are improving you go from a buy signal to a buy mode The reason why I'm saying this is the objective is to get you to a d it can go to an e and an f And even a g but a d other things can happen So the objective is to go from a buy signal to a buy mode meaning at least four higher peaks Okay, well, what did we get here looking at the left side chart right? Yeah, let me move this away I'll keep it the example and be coming back Um, we went to a d and that's actually we initially started a short with just a very brief one to cattalion loss And then we stepped aside and I said wait a minute As long as this nine period moving average this green line is way above the 14 You've got internal strength, but when I talk about internal strength, I'm talking about this particular technical tool And for it to turn around and go pink as it did right here Right here on this particular High of 34 257 on the 1st of May in the DOW It turned pink and it stayed pink for a while until it went back to green And we've been green ever since even that very sharp pullback in mid july Did not turn it pink it held the green held and actually I call it the indicator of last resort Just like the federal reserve is the bank of last resort So this for me is a technical indicator. There are times where it's not as important But in this particular case try to pick a top Uh, that is a short term top on the day. I'm not talking about the weekly yet. This is the weekly here and yes the Um, yes the monthly chart. Let's just leave that for the moment Now what's really important about this? Look at the coincidence that we've got sp x dot x there it is the s and p peak f as well I haven't changed the color and I haven't put it down Are either in the DOW or the s and p because I need to see a couple of closes below the 14 period moving average of the price But to get a sell signal that gets upgraded to a sell mode I need to see the nine period moving average cross negative and look it hasn't even if you go to the futures Look at this. The futures are so close. Look at that green is Ha we saw that before and look at that and it bounced So all I can say is that we've kind of run out of energy But now because I'm looking at some kind of a top. Let me run all these look at the qqq Goes to a peak D. It does almost a one to one to the downside from the 387.98 This is where it should have a little bit of a bounce But in the weekly chart, it's a peak D. Look at the i w m the russell 2000 made a peak f just like the others But I haven't been able to put a down arrow in yet because none of the 10 The price hasn't moved low enough yet. You have the mac D's turned down Stochastics under 80 on balance volume. It's really close to some kind of a pullback now. Let's go to gold. You'll see the same sort of thing gold Turn pink a couple of days ago and look at this candle. It looks so ugly earlier this morning. It went all the way down to 1956 was it 1954 point five and here it is in 1978 point two right on the 200 period exponential moving average So gold is having a bit of a balance here. That means that the dollar is probably going to pull back a little bit Yep, it's pulling back to 17 ticks at where leg D. Maybe a peak D today You're going to be watching all this so closely because I as I say I'm a technical analyst This is where tommy does this fantastic job. He would have analyzed the adp report and everything I say, yep, it's really important But for my work most of the time I'm really looking at what does the mark could do with the with the data that comes in And right now the the the the dowels up the fuses up 71 the s and p futures up 17 So it's responding quite nicely So I I don't like to get in the way of the price and that's the price is saying hey, not too bad Now I want you to go something that's really important. Well, first of all, let me go e or usd This is the currency made a peak D three Dogey candles at the top pulls back quite sharp having a nice session They kind of corresponding to to the gold action peak D in the weekly but the technicals are still pretty good Look at the usd jpy I was expecting that there could be a try for a leg d and lo and behold, what did we get? We got a leg d yesterday And the chance that it becomes a peak d today the last one was a peak e in a pullback very sharply So here we are the US dollar Japanese yen, that's the yen itself We're looking at a peak d in the daily underneath the previous side that usually says That's not such a great sign and the weekly chart hasn't yet made its d now what I want to do is to go to silver Silver is trading quite nicely the upside 48 ticks at 23.74, but that 200 period moving average magnet It's just holding that price back. So I I think we got a chance of a bit of a pop in gold and silver But I think they'll be coming back high grade copper like to do all of these high grade copper Is trading at 3.85 down 0.04. It's a stock. How important is the 200 period? I like to put these technical indicators into my charts I don't need them until I need them. Look how important the swing has been this 200 period moving average Optimation stall square at the 200 period moving average Be careful is back and now it's gone to peak d in the stall high grade copper is stalling at this particular time I haven't taken the time yet to go to the ones we'll do that as soon as I return puzzle chapter sitting here for tomyo brian. I'll be right back If you're looking for potential trading setups in the stock market Then rocket equities and options report is a newsletter you should try Tommyo brian 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 Everything in the universe is governed by the Fibonacci sequence This mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market To stay on top of stock patterns You can take advantage of sign up for the Fibonacci 24 7 newsletter at tfnn.com When you subscribe you'll get a weekly report from veteran day trader larry pesavento on stocks You need to pay attention to and you can trust larry's analysis after all he's got 45 years experience as a day trader larry will also provide daily charts videos and data on the key markets that he's tracking Expect notifications from larry on market movement You need to act on at any time first time subscribers also get a 30 day money back guarantee If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up Subscribe to the Fibonacci 24 7 newsletter today tfnn.com educating investors 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 tfnn has launched the tiger's den 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 den available to all tigers and tigers for just one dollar for the year There's no catch or added costs when you join our community of traders sign up today and become a part of this Educational community of traders just visit the front page of tfnn.com This is vassal trappin sitting here for tommy or brian I I don't want to go to too many of the stocks out of the requests that I've got until the market actually opens Because there are going to be some gaps to the upside and some of them and gaps to the downside Let's just see what happens there. Uh, but I didn't want to say I had a question about the gdx Yeah, so for subscribers to my opening call we were in the gdx One of the reasons why is that I said I don't see any tremendous strength there But there's enough strength based on the fact that the dollar's running so strongly that it's kind of holding well Well, I had I put a stop in a little wider than I normally do only because I wanted to give a drum We got taken out The the irony of the whole thing is that I believe that you could hold the gdx Anyway, even from the the 33 level or just in the high 32 that it was at Three weeks ago, and you will get your money back. There's just no question in my mind It's just a matter of time. It's going to go even higher than that But you don't want to I I do not like to sit through the vicissitudes of the market by sitting and saying Oh my god now it's down 10 now it's down 15 percent now it's down 25 percent And then it comes back I'd rather have that cash because that cash can be used or I'd rather have the cash ready to come back into the same thing Even if it's back at the same price, but I'd rather get the trend Because I believe very strongly in the tide. So if you're looking at the tide, there's a chance that um because of the bonds that we're looking at right now, let me just go to the bonds themselves So look the bond made a low yes this morning of Right there 109 120 point No, it was 119 119 and 25 30 seconds Do you know that the low back in october of last year Was 118 and 31 30 seconds now this is a continuous contract so that price Could change but the low of october was almost touched and look at the synchronicity between the timing here I maybe I've got that in the tlt. Let me just have a look Oh, I hadn't I did draw it in but yesterday once again all of a sudden I had to shut down um because of something that happened I had it suddenly shut down and I I did not want to save because I would have saved the error that was occurring So I decided I wouldn't do that I would in fact I would just say don't save so I lost a bunch of stuff that I'd actually done It's not a big deal. It doesn't take me very long to repeat it again Except when I come back to look at something that I thought was complete So what I like to do is if it isn't very obvious to to a trough that you can use or um or an arch high Um, I go to a particular candle in my analysis So this is the tlt looking at the symmetry remember I like to look at bar symmetry of that cup to this cup It's a little extended to the right and that just says that by the week of the 18th of august Um, that is 18th of august will be so we've got a partial week now Full week this this coming week next week will be a full week So the second full week so going to friday a week You've gone until friday a week to go in the tlt to 91 85 I think we're ready for a little bit of a balance attempt after these four One two three gaps to the other to the downside these four candles demonstrate that So you're certainly already for just a purely technical balance But it seems to me that based on everything i'm looking at here That the yields are getting very close. Look at the tbt That's the inversion of the one i'm showing you the tlt right now Are getting very close to getting to to trading not just Hitting the midpoint remember I like to look at a cup formation And then I say within that there's really a rectangle that i'm looking at And if you go halfway into the rectangle, there are a whole bunch of things that I do I've got webinars on these things. There's a halfway marker right there Gonna make sure it's parallel there it is parallel That halfway marker and it isn't quite right yet. I have to bring it down. I do this by eye Pretty sure i'm accurate because i've done this so many times So that's your midpoint and that midpoint in the tlt bt is 32.90 Within a couple of pennies and where we are right now is be 34.19 That makes this whole area especially the high of the week of the third of march At 32.75 that makes that The start of key support because it can go a little bit under it But on a closing basis you don't really want to see if you're looking for the upside You don't want to see a close on the downside So within that context what I am saying is that if you look at that put it together with the tnx The tnx is the 10 year yield. That's a little different. Look that 43 33. That's 4.33 The high that was made back in october of last year Have a look at this the high the high yesterday or the high yeah it's 4205 Uh way 4205 you said oh that's is that today we haven't started yet. Yeah, that's the high today 4205 That's 4.205 in the 10 year I mean look how close you are and now if I do exactly the same analysis and say wow a cup formation Find them find the low bar that you can use as as a pivot point as a fulcrum as a There we go As a plumb line right there and what do you get you get left side the right side I'm going to go I'm going to be a little creative there I won't I'm going to be a little conservative. I'm not going to go to the low I'm going to the bar the little doji candle low before that and I'm going to say Okay, let's see if you've got that and then I'll draw a chaplain wave inside wedge target Resistance line right here because this one's now finished. This is the falling x formation We've broken out of it. I don't want to go through the whole thing there Let's just get rid of that and now let's do this and you take the trough on the left side Go like that and there it is. This is the chaplain wave inside wedge Target resistance line dash green on the way up And it hit it exactly once pull out hit it every time pull back pull back pull back and it's touching it this week So you've got until the week of this being a little bit more conservative the week of the September in this particular is for the inversion so to get to the 43 33 level Can it do it? Well, the technicals are suggesting that it's a possibility Even if there's a bit of a pull back here and that just said you've got to be somewhat careful about yields And that takes me to something that I'll discuss more in my show coming up the target conditions hour And that just takes us to the hgx hgx dot ax there we go that is No dot they changed that hgx. I should know that by now in leg c Uh, this is the philadelphia housing index sector So it's a this is a sector index it's gone to leg c in the monthly Leg c in the weekly a peak c if there's no new high this week And I looked at this this I I can't look There's almost a chaplain wave instant restart here. Oh, I don't want to go into that right now But that's a technique where you've got three bars and wish to take out the left side high after a peak d If you do that It says there's a really good chance that you can go e slash a f slash b g slash c and then you'll get to a d It's like a whole new by mode But this took four bars to do that. So I can say yeah, this is a chance. This is e slash a there's f slash b G slash c and this is a d. I'm not going to make it complicated right now It is in leg c but it's a peak d already in the Daily chart making this h pattern if it starts to close two out of three sessions below 554.04 That's the low of the 20th of july You've got yourself a situation that says be careful because now you're going to look at left side Indicators to say where can it go to but the nine is still positive interesting. I'll be right back That was a trap Building wealth trading in the stock market seems impossible to most people They think it's too volatile and risky Most people aren't going to take the time to educate themselves on how to do it right But you're not most people are you at tfnn You'll get the guidance you need to refine your strategies and techniques to invest like a pro Because you'll be a pro all tfnn subscriptions books software and courses are available at tfnn.com and I'm even going to tell you how to get them for less Use tfnn's tiger dollars and you'll get up to a 20 bonus on your purchase And once you apply them to your account tiger dollars are automatically used for all future or recurring charges Tiger dollars also never expire are fully transferable and are a great way to add savings to your newsletters or services Become the investor you were born to be at tfnn.com tfnn educating investors tfnn has just launched their new trading room the tiger's den 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 And now they are expanding their reach with the tiger's den available to all tigers and tigers for just one dollar for the year There's no catch or added costs when you join our community of traders in the tiger's den You can look over the shoulders of tom o bryan and the other tfnn hosts while they analyze charts during their live tiger tv programs And join an interactive trading community with hundreds of members exchanging ideas Interact with other tigers and tigers as they share trading ideas news analysis and discuss the market action all trading day Even at night and on the weekends the tigers den at discord is accessible on mobile or tablets as well So it's always at your reach to sign up today and become a part of this educational community of traders Just visit the front page of tfnn.com 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 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 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 Hi folks, we're back basil trapping sitting for tommy of brine This is mark a kickoff show and i'm i'm sitting in just had a conflict. I said i can do it We're looking at the one-minute chart of the e-mini It went to a long sideways rectangle formation and then it went Just below it for a moment You're going to be watching this closely because is this a single leg a to the upside in the 10-minute chart That's going to fail. I see enough The residual strength that can keep little bits of of buying coming in But i'll talk about this in my show coming up in the next Hour at 10 o'clock when I usually do my target conditions I'll I'll go through the technicalities here in the meantime back at the ranch I just wanted and also there's this long rectangle You see this in the 10-minute chart with a beautiful symmetry right here to a particular candle Going just to the exact one. Well one more late to the in the 10-minute bar to the left side Right side time match and are we still stuck in this rectangle? I I see some strength trying to come in but in most importantly what I'd like to do is to say um In the since tommy always spent so much time discussing in really great detail um What the implications of the interest rates interest all all the economic the the essentials that you see in the economy I'm going to just go back here. I do the chart. You see I had a question during the break. Could I look at savara? I think it's called savara ink s Vra at 3.59 is up two cents right now Yeah, the essence rectangle formation that I always talk about and a lot can happen within it But so far the technicals are strong enough. In fact, I'm going to make it a little bit narrower The technicals are strong enough with the nine over the 14 the magnies. Good not great stochastic at 66 It's not good at all on balance volume is not good But the price is acting quite nicely and it suggests to me that it will go into the 3.83 Into the 3.80s For your leg d Looking at a long term. It's got a beautiful cup formation In fact, it's got the same rectangle that we were looking at just a moment It goes because patterns repeat over and over now I didn't want to take too much time here on this one because I had questions prior to that that get Should get priority, but look at this cup formation So if you're looking at this a longer term, is this I don't know if this is in the biotech area I know that then you do a lot of work in the biotech here I like I like the fact that it doesn't look like a biotech It doesn't have these a lot of these long wicks in the monthly candle that close at the lows But probably it is So this is a much better looking chart and it's working its way higher I like that but be prepared that it could stay in the rectangle for quite a while 320 is the level to watch because if it closes under that it's going to take even longer But it's so far the the weight of evidence suggests It's got a bit of a pull towards the upside 375 level will be the first real I'd even say it's a 359 368 to 372 is really the area that you want to pierce and then hold and that'll be really positive All right. Now. Let me just go through a couple of things here. I wanted to go just update where we are The doubt this particular point is up 90 No, it's not it's up 125 And one of the oh now I can do that. I was holding off holding off. I should have done during the break But I was busy. I just want to show you this. I'll do a lot more in my show coming up That's that's part of the technical aspect that I like to look at And what I've been saying and warning my subscribers that even though we are short Two instruments actually it's now three instruments Um be prepared That everything is going to take a while. Look at this This is a down chart with just the gray is is the closing price of of the down this particular instance The nine is the nine period green Moving average because it went over the 14 the black period moving averages the 14 period and look what happened You've got your left side right side Match when it goes to the apple then may high then you've got sorry Decline and then left side right side internal High residual high back in july and now you've got your left side and your right side now Are we going to sustain this move? Look how long it's taking for that nine to close under the 14 And in fact the rule of thumb very often is that you could just hold off because when it finally turns It gives you a really good sense of how long and how it does that the width between the nine of the 14 tells Gives you a sense of duration. So in this particular instance, I'm watching this very closely because look at this the s and p The s and p has come back to the line and went under it and that nine is getting weaker and weaker But it's still green. Look at the q q q getting weaker and weaker and weaker and weaker up three at 376.96 And yet that price turned around and tried to go back up. So this is such an important week I'm calling this an evolving roll over It can't expect that it would just be one if yesterday was down after the 300 something point down close on Where are we today friday or wednesday if yesterday was like 280 points down And then today was another 150 points down. I said, that's it. We've made the top in this particular instance It's a rolling top. It's a whole series of things. Look at the i w m the i w m trading up 15 cents at 194.68 I I can do this with anything. Look at the gdx. The gdx is pink It's really struggling to go positive. Look at this is and i'll go to gold because they don't always match exactly But in this case they do match quite well Although this nine people moving average only slightly under the uh, the other but look at the tlt That is look at the width of the nine under the 14 So you can have a bit of a balance sheet of 62 cents All right, so I wanted to just do those quickly to show you the kind of thing that I do for subscribers now. This is really important within the context of either calling a top or or I use One or two indicators I have some leading indicators and I have some lagging indicators in this case the nine over the 14 That's a lagging indicator and you can see how long it's taking is refusing to To cross negative look at the on balance volume is pulled back quite sharply That one went right to and this is fascinating Look at that to the very day of the high to the very day of the low right Oops, no two One day early to the low over there. I mean you can use different tools and use them in different different ways I'll go through this more in my technical fridays technical A chaplain wave analysis there go into things a little bit more deeply But now let me go through something that I think is important if you're looking at the hgx It is up up now it's down three ticks at 563.53 One of the reasons why I said to subscribers that we're going to choose a particular housing stock There was making all-time highs as a short usually you want to go for the weakest because the weakest get the The biggest bang for the buck, but I want you to do this because in a sense I'm going to test the strength of the Philadelphia housing sector index Because this is a component of that At the same time as I'm saying what is the impact Of higher yields and they are higher. I mean that's 30. I don't want the 30 years at this particular point But it must be it's it's tough for people now to to with prices still maintaining their higher highs over this period To be buying a house That's all okay now. I want to go through all the different things that I was asked about Let me go through one at a time Uh So fxi which is the china Large cap etf made a peak d pull back out a bit of a balance yesterday holding steady today 29.37 Down 18 cents. I had said that I think it's it's the rally that we saw really fabulous rally from the october low in the 20 just under 21 30 33 Pulling back to the 25s and now running to 30 and it's trading right now 29 I think it's due for a risk. So fxi time for a risk. I'll be back guys up on them 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 You might find that it's not so impossible after all for daily market overviews that give you direction on the key indices selective stocks and commodities Subscribe to the opening call newsletter at tfnn.com The opening call newsletter is written by basal chapman creator of the trading methodology known as the chapman wave The chapman wave up down sequence gives you an edge in identifying price turns finding the peaks and valleys and stock prices Get the opening call newsletter by basal chapman and your inbox every day First time subscribers also get a 30 day money back guarantee If you're not satisfied let us know and you'll get a full refund within 30 days of signing up tfnn.com educating investors 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 u.s. 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 xa u 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 Build the s and p 500 continue to climb for bold trades on us large cap stocks in either direction trade sp xl sp u u or sp x s Directions daily s and p 500 bull and bear leveraged etf's Direction leveraged etf's an investor should carefully consider a fund's investment objective risks charges and expenses before investing A fund's prospectus and summary prospectus contain this and other information about direction shares to obtain a fund's prospectus And summary prospectus call eight six six four seven six seven five two three or visit direction investments dot com A fund's 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 four side fund services llc This program is brought to you by vista gold traded on the nyse american and tsx under the symbol vgz i'll be back to the e many fusions in a moment, but i i did want to get to a couple of things and one is So the fx is in this consolidation phase. I think the 200 period moving average of 28.74 It's about a point higher than that. I think that's going to be tested a couple of times That's going to be the big thing to monitor now. Yeah, we go d o d do g question about data dog security platform for cloud applications trading up six at 113.27 that sounds fantastic except it was at 118 It actually 119 118.02 on the 25th Yesterday's low was at 105 Exactly round number today. You've got this big bounce. I think it's still as I discussed it before I think it's in this digestive phase It's acting really well It's come off the low beautifully But I think it's there's a good chance That it stays in this range and I'll give the range it could go slightly higher high could go to maybe 119 even 120 But I think I'm going to put this in here And just say this is what I'm really looking at This is not the pattern that This is Well, the low low doesn't keep it. Yeah, okay so I think between 104 and 119 Teenish I think it could be stuck there for a little while most importantly if it gives back this gain by Wednesday or Thursday of next week and even if it only gives back partially But if this is a gap up on news, that's good news. It says that It's gotten through another three months of earnings report And this is a good sign And that says that people will be looking at this to buy on any major pullback because obviously if it's got good earnings And it's held so well so far after 15 minutes Of play so now let's see what happens if by Today's friday if by Tuesday It gets to below 111 is trading in 130.79 right now. That's going to say uh, oh be careful It's going to be just digesting the gain So yeah, you could do it as a starter position knowing that you got your maybe three entries one on a little Maybe you saw people have asked three people that I've asked me are actually long. Oh, oh the one question was that the options? I think you said september That's a little tough because september options because I'm expecting This digestive phase in the market to continue a little longer But the favorite stocks the stocks that have had good earnings So september so that probably means that you go through the 15th of september the options expiration friday month If that's the case, I think that you're okay. I really think that you've got time on your side I wouldn't get too excited about it We're just on a short term and you see these gaps because almost got a little A trend a channel with gaps here So if at any point it starts to trade back into the 110 70 area Then it says, you know what I just need a breather. I've had a great move I'm going to take a spectacular move just the last big move from april May in fact has gone straight up. It just needs a little time. So I'm just saying I like it If you are looking to buy right here, that's a separate thing altogether But I think or everyone that asked either is in it from lower down I would just hold it as a core position I trade around it and the trade around it says that if on the very short term look the dials now up 183 Then we just see did apple turn around from being weak yesterday? The apple Oh apples down six. I'm not sure which one of the down. Let me have a look yet to see if I can find out Uh, apple is down. I'm not sure which dow stock Is doing it. I'm trying to find it right here. I don't think it's updated Oh, unh. Okay. Maybe you're an H. Let's see But this is the rotation through and this is what the 940 period moving average is telling me that there'll be a rotation. It's not going to be yeah UNH has made a peak D. It's trying to retest that And there's that inside track repellent zone in the weekly chart Yeah, I would say that this is the case that with the United health healthcare in this particular phase will see if that that takes preference again If other areas start to weaken but in the meantime, UNH is acting really well Yes, it's acting really well and because of that It is helping the dial. So in that context Where were we we were looking at a data dog. So data dogs in the area that's acting Pretty well in terms of relating to earnings come out Big spike up so far. It's given back a little bit but the gap it hasn't the low was 140 and open at 114 79 The lowest and 113 and here it is at 113 80s 67 So just watch it if it starts to slide later in the day It says oh, that's a little bit too much enthusiasm It needs to digest the gains but looking out The monthly chart says this is the first time that if in August that nine period crosses positive because it's still pink if it crosses to green It'll be the first time since it broke down early in 22 And when negative it's the first time the nine's over the 14 and that's a big positive The weekly chart is very good in leg d. All the technicals are good It did the left side right side price time match. We were looking for oh, oh, here's the next one Right here. I forgot all about it on the left side On the 12th the week of the 12th of august a year ago 120.75 was the high it dropped into the 60s I would say a more than 50% decline is a problem But then it's made a beautiful cup formation And I drew this in as a left side right side price time match It went there to the weak really that and then it broke out above it. So yeah, that's what I'm saying It's got resistance to the upside, but it could still try to get to that 120.75 with that coincides with what I said 119 to 120 is a possible upside Target, but That's the way I'm looking at it. Next question was Amazon Amazon looking at it right now big spike to the upside. I'm going to look at that It looked there's a dreaded h pattern. That's the lowercase h It did it once it did it twice It did three times held the left side low of the weekend of the 26th of july at 126 11 had it popped up to 133.87 comes back down and Yesterday it had low 126 41 and yeah, it is up there. You remember we had a call from gosh Who was it from boston? You said is this time to get in to amazon? We're looking at together He said I got in at 84. I think it was and I said, oh perfect timing and 84 nuts at 141 fabulous entry was it george boston I can't remember who it was, but I remember the call very well He got it. He just nailed it almost at the exact low and now you've got a is this a brand new leg b Or is this a g slash b? Well, once you've got this kind of strength going from the 120s to the 140s Inleg d in the weekly chart says even if it pulls back in what could be a choppy august Maybe it fills part of the gap 136 five points It doesn't get back to the peak that was made the 133 is just a Few days ago. This is really good action And I like to see it because it's helping the rth Which gb looks like birth and it doesn't so it's helping the rth There rth, which is the van ek retail 20% is amazon. So look at this brand new movie goes the a b c d Wow that really did help didn't it and the xrt is not I'll do the work on that when I get back down to 172 s and p's at 23 tfnn has just launched their new trading room the tiger's den 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 And now they are expanding their reach with the tiger's den available to all tigers and tiger's for just one dollar for the year There's no catch or added costs when you join our community of traders in the tiger's den You can look over the shoulders of tom o bryan and the other tfnn hosts while they analyze charts during their live tiger tv programs And join an interactive trading community with hundreds of members exchanging ideas Interact with other tigers and tigers as they share trading ideas news analysis and discuss the market action all trading day Even at night and on the weekends the tiger's den at discord is accessible on mobile or tablets as well So it's always at your reach to sign up today and become a part of this educational community of traders Just visit the front page of tfnn.com 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 You might find that it's not so impossible after all for daily market overviews that give you direction on the key indices Selective stocks and commodities Subscribe to the opening call newsletter at tfnn.com The opening call newsletter is written by basal 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 basal chapman and your inbox every day First time subscribers also get a 30-day money back guarantee If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up tfnn.com educating investors Everything in the universe is governed by the fibonacci sequence This mathematical principle is responsible for everything from the most aesthetically pleasing artwork To patterns in the stock market to stay on top of stock patterns You can take advantage of sign up for the fibonacci 24 7 newsletter at tfnn.com When you subscribe you'll get a weekly report from veteran day trader larry pesavento on stocks You need to pay attention to and you can trust larry's analysis after all He's got 45 years experience as a day trader larry will also provide daily charts videos and data on the key markets That he's tracking expect notifications from larry on market movement You need to act on at any time first time subscribers also get a 30 day money back guarantee If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up Subscribe to the fibonacci 24 7 newsletter today tfnn.com educating investors 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 Hi folks, we're back in this last segment that we've got here bowser chappan sitting for tommy or bryne Um xrt is at 61 16 up 21 cents It's kind of got a topping action here But that doesn't mean to say that it's going to top the nine is still over the 14 But if at any point it starts to break under 66 is a 67 17 and then closes two sessions out of three Under 66 I say that's the sign to say just a digestive phase is unfolding right now It's still positive the rth is a little different obviously because we did not type that Let me type it over here right Right rth, which had this this is equal weighted so amazon doesn't distort anything and this is a wrong chart Okay, there we go rth Got it rth had a big spike to a new recovery high Then this is pkab this is leg c in the weekly chart So things are actually starting to improve, but I have to tell you this is a roll over as far as I never just sum it up quickly As far as I'm because yes, we are short for subscribers to the opening call right at the top on the august 1st That doesn't mean a thing just because you time it that way Uh We'll see what happens here, but it's a slow process as this nine period moving average Stars to move down towards pink. That means it goes under the 14 It can take another another five sessions four sessions before it doesn't you either does it right away Or it takes time and I think it's taking time to it's a slow roll over This is my opinion right now. This is go to the smh's smh's Try to rally now. They're down 43 and this to me is the benchmark This is so we don't weigh the smh's the semis go So goes the market in the general uh context Longer term. That's just being the case We'll see what happens the day is young and I'll be back for my show in a few moments time the tiger technicians hour Tommy will be back monday just had a conflict and I said I'll sit in frame for this particular time So have a great weekend I will see you in a few minutes for the tiger technicians hour if the market gives back What's the doubt if it only is up 50 points after 130 that says this this rollover is taking effect And that's probably part of the interest rate sector and the other thing is if it holds very well It's up 130 or more It means it takes even more time to roll over have a wonderful day. I'll see you in a few moments