 The following is a presentation of TFNN. Power, Trading Hour with your host, David White. Call now toll-free at 1-877-927-6648 internationally at 727-445-1044. Now, David White. And welcome all to another exciting edition of the Power Trading Hour with me, your humble, lovable and squeezibly soft host. Once more, do we go into the breach, dear friends? The following takes place between 2 p.m. and 3 p.m. And what do we have going on today? Well, a lot of news-driven stuff. We're up 48 on the S&P cash. And of course, the first question I'd ask is how much volume do we have? 4.5 billion shares, which is actually fairly decent, but nowhere close to the 10 billion that we need to break out of the top. Monday, of course, is a bank holiday, so the bond market won't be doing anything. Generally, that's enough for at least 25% lighter volume. If we go up even higher on Monday and no volume and squeeze out all the shorts, the one thing is I can't say that we will go down, but if we do go down, it will be a long way. We have set up a major air pocket down below to where the risk is always, 80% we're going to go another 10 points higher and 20% chance that we go 50 points lower. And that is the absolute antithesis of having an asymmetric trade unless you're short. So, and two, I haven't had any kind of the signals that says that it's time to pull the ripcord on the indexes, but maybe we get that on Monday. I thought maybe we get some kind of reversal late this afternoon. Don't have it so far, so we'll see about that. You can give me call at 877-927-6648. You can email me at path at tfnn.com or always put a message in the den. I'm going to be very surprised if I end up with a position by the end of the day now, but we shall see. 2987 was called that on the S&P cash. Dow's up 441, Nasdaq's up 151, Russell's up 36. And of course some happy talk from the trade deal. Frankly, I'd be happier if we had zero talk for everybody until it was a yay or a nay, but we're not going to get that. The market doesn't care what I want. Doesn't care what you want. It only cares about finding out the consensus of what everybody thinks together. So, is there anything else going on in the market? Continue to see kind of the fingers, the fickle finger of fate for either something called disinflation or stagflation or something like that. Now, crude's up a little bit, but there was some action in the Gulf and some other stuff. But it is crude. Other commodities, gold, just not acting right for the belief that we're in some kind of inflationary spiral. I know a lot of people want to believe in inflation, but if you're talking about inflation compared to a year ago or two years ago, yeah, maybe you can say that, but we don't live in a vacuum. I was trying to find it and I could not find it, but it's from the rational optimist book that I like to talk to everybody about. But I'm going to loosely paraphrase it, but it's about right. In 1800, to get an hour's worth of light, took about one hour of your time by the time that 1950 rolled around with electric light bulbs. It had fallen to something like 10 minutes. Now it is one minute of your time at minimum wage to pay for an hour of electrical light. That's just the absolute reverse of inflation. Of course, everybody looks at food costs and they're higher than they were six months ago. That is a fallacy that is called anchoring. You may want to look that up. Is food relatively cheaper than it was 10 years ago, 20 years ago and 50 years ago? The answer is yes. We continue to have to work less to get more for a lot of things. Some things are going up, but that is because we aren't building the same things we had before. If you look at a car from 1970, it rusted out in five years. It had no airbags. It had a metal dash probably, maybe with spikes on it. I always thought that that's what they should have put on there. A really user-friendly dash with spikes and razor blades and all kinds of stuff. But no, we've got padded dashes now. Of course, 15 airbags that go down the windows and around the block and down the wazoo. I'm not particularly a doom and gloom. I know that the markets move forward and then they move back. Over the last 300 years, the stock markets have really been tracked. For every 10 steps you go forward, they come back about eight. Maybe it takes a long time to do that, but they do that religiously over time. There's always a positive basis if you invest in the future. The problem is you just don't want to be in that 80% pullback when it does happen of the move. We've seen that. Everybody wants to be rather bearish. The problem is that the market is not cooperating with them. I am not short. I've thought about it a lot. The setups are fairly good. And of course, we continue to see a lot of stocks that just continue to drift lower and not really find any kind of footing. In the NASDAQ, completely worried because so few stocks have made new eyes, a handful of them like Apple today. And of course, just the breadth of the NASDAQ or the breadth of the S&P 500 is miserable. It is pathetic. I'm looking for yet another word to say something horrible about the breadth in the S&P and the NASDAQ. But I will digress and get ready for a break that's going to happen in about a minute. So we're going to look at the rest of it. Volume good, but not good enough. Earnings start Wednesday. Could we just hang up here until then? The answer is quite possibly. I think maybe there's an 80% chance that we do. The question is whether or not we can live up to those high standards of earnings. Now, we didn't have anything in the way of earnings calls. But also the question could be, is all the good news in? And if you're a Van Halen fan, we're of all the good times gone. But yeah, I'm an early Van Halen fan, not the later one. But I did like the Red Rocker. What else do we have? Well, we'll just go through $54.44 on crude right now. Gold's down, let's call it 12 bucks at $14.89. Silver's off $0.07. I think it was off more than that, $17.53. Dr. Copper up about a penny, but $2.62 isn't going to do it for us. We'll be back after this. Give me call 877-927-6648. 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 Dahl, 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 Dahl 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, including the surrounding St. Petersburg, Tampa, and Clearwater markets? Tiger Real Estate LLC is a firm that has extensive experience in the Tampa Bay Area. Whether you're looking to sell your current property for maximum value or you're in the market for a second home or investment property, Tiger Realty has the experience across all areas of real estate in the Tampa Bay Area to help buyers and sellers make the most informed decisions across all price levels. From the price you should be paying per square foot in certain open-coming areas to the type of cash flow investment properties are capable of creating, Tiger Real Estate can help you make the best decision when it comes to all areas of the market. Before you make one of the biggest decisions of your financial future, call Tiger Real Estate LLC today at 727-329-8322 or email us at tiger at TFNN.com. That's 727-329-8322. Call us today. Many of our new listeners have heard about the Tiger's Den. The Tiger's Den is a lively community where professional traders and investors can meet, exchange ideas and information in a comfortable, moderated atmosphere, hear all of the TFNN shows, plus see all of the charts as they happen live and have access to archives of all those charts. You can test drive the Tiger's Den absolutely free for 30 days and greatly enrich your knowledge of these markets and how to make your money work for you. Details on the Tiger's Den are on the front page of TFNN.com. All rights, TFNN.com. Educating investors. Call now. Toll free at 1-877-927-6648. Internationally at 727-873-7618. And we're gonna do a little history then we'll move on. On this day in 1979, this calc is released by Dan Brickland and Bob Franklin. Frankston, the spreadsheet application is called the first killer app for personal computers. It turned the PC from a hobby into a business tool. It over the next year would accelerate the cells of Apple IIs tenfold. Everybody was getting out of college in the summer of 1980 with MBAs. All of them bought Vizicalc and Apple II PC. And they found out that of course if you had the right software you could sell as many computers as you could build and almost print money. And it was, you know, business computers from IBM everybody kind of knew that you kind of had to do them to get rid of a lot of employees and make things work. But the employees to run them were very expensive and the idea was getting a PC and train a fairly mildly educated person into using them. I met Dan Brickland at the local computer abusers group and I had to go downtown which I did not like to do back in 1979. And I finally dug up some stuff that I had laying around and it looks like it was the first week of December of 1979. He was doing a tour showing off Vizicalc and all the stuff that it did. I bought a Apple II in that I think in January with a bunch of money I made during Christmas. Didn't have a long had it about, I don't know, until the Commodore came out and I bought it. But computers, phones, whatever it is, it's all about the big killer app that drives production of buying hardware. And I don't know what else you could say about it other than these two gentlemen did not copyright or patent any of the software. And if they would, they probably would have been billionaires. They all kind of checked out with about $15 million. Thought that that's what all they needed for the rest of their life. And in 1980, 15 million was a lot. But on this day in 1979. Okay, so we're going to get to some charts and talk about some other stuff. Hopefully we got some emails coming in. Got some good news. I hear Steve Rhodes will be back on Monday. So all those folks that weren't all warmed up by Steve Rhodes before in the one to two hour will be on Monday. What else do we have out here that everybody wanted to look at? Let's take a look at Apple first because it is making new highs. The question is whether or not you cut the kind of volume that we really like to see so far yesterday had 29 million shares. Today you got 24 million shares, which is not bad. The problem I have is that maybe all the money is going into maybe two or three companies and very few are going higher. Many are going lower. And we can see that in the summation index. It's not a good sign to see that summation index had lower on that. And I guess we've got the State Department talking about the Iranian oil tanker deal. That's putting a little juice under a buck under crude right now. But I don't know if that's going to make any real movement in the market. You got gold down today doesn't seem like they're very worried too much about what's going on in Iran. Anyway, we were looking at Apple. It just seems to me like at any moment you could have the Chinese government tell Apple to go pound salt and that would be it. They're already in tons of hot water because they've been kind of the kings of virtue signalling. And everybody is a social justice warrior and all that stuff. And as soon as it comes to China, mums the word. And of course, cutting out apps that many had been using in Hong Kong for very dubious reasons. Some of the actual internal emails have come out from Apple. And we know that Steve Case has a real economy with the truth on what the app was actually used for. Many people are using it just to stay out of the way of a rampaging Chai Kong police that are running around the town. Some were using it for actually going after the police. But you know what? It's very tough to tell everybody how wonderful you are and how much you care except when it comes to somebody that lives on the other side of the planet. And then suddenly you don't care because it's going to cost you a bunch of bucks. We have a lot of companies that have some giant hypocrisy and they're going to have to eat that hypocrisy crow. Boy, I'm mixing my metaphors today. Disney, Nike. I mean, there's probably 10 of them, Starbucks. All these companies that say that they are so in to what everybody needs and feels except if you're one of the 100 million in prison labor camps who occasionally get used for spare parts. If your DNA matches and they can sell your kidneys and your other organs to somebody else in the Western world for a big score. So it's not so much. I hate that they actually sell to people that don't have the same values. It's that they have a questionable time to actually add those values when they can shout somebody down or in the case of the Chinese, the Chinese can fight back. Much easier when you can just tell everybody they're horrible people and you'll ruin their lives in the United States. If they don't agree with you in China, they can ruin your life in the United States by telling you to go and take all your toys and go home. So we'll look at that anyway. I mean, there are a lot of challenges facing these big tech companies and the market seems to be looking the way or the other way like there is zero chance. There would be in there if there was a if there were more bearish folks on this on Wall Street. I'd be a little bit more sanguine. Problem I have is when nobody can think that the stock market can go down. It doesn't mean it's going to go down. But generally what it does mean is that there won't be a lot of bears there to buy it on the way down. A cheerful bug. People bug me. The best one I've heard here, somebody actually wrote this into me and I'm just going to repeat it because it's so good. They should make a new back to the future movie where there aren't any flying cars of people to stand around looking at their phones and are offended by everything. But that would probably been a much probably not as fun a movie is back to the future, but probably very realistic. Okay, so what else do we have that we want to look at? Let's start looking at some of these sectors. We're going to the break now. Yes, I vented my spleen for the day. We're going to move on to my connectors. Seven million shares back on April 24th. I got through it to about seven million shares on July 24th. Breaking through right now with a little under five million shares. So you need another two million shares just to break even with previous highs. We'll be back to look at a few more of these. 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. Included in market insights are specific buy and sell recommendations for stocks, ETFs and even options, which stops and price targets included for every trade in my newsletter. If you'd like to try my newsletter risk free for 30 days, then head over to the front page of TFNN and you'll find market insights under trading newsletters. I use my years of trading experience to bisect and dissect the market every morning and give my subscribers the most important information they need to know for the day ahead. I even issue afternoon updates for my subscribers whenever warranted with important market action. I'm always scouring the market for the next great trading opportunity. Sign up for your 30 day free trial to my daily newsletter, market insights today by visiting the front page of TFNN.com. Well, go get them folks. 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 guardleafs, ABCs, 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. Now we're just going to go through and take kind of a quick stab at a lot of these ETFs. Like I said, I'm going to say 10% of, although we're close to the highs, 10% of them are anywhere close to the highs again. Hack, this ETF for me should be at 80. Why these big corporations refuse to spend a dime on making sure that your data is secure is beyond me? It certainly looks to me like the only thing is going to be legislation or major lawsuits that cripple these folks in the future if they don't do an adequate job of at least trying to look like they're safeguarding your equipment. It's up Hack, HACK, which is the technology, cybersecurity up on just nothing today, 80,000, 81,000 shares. To do, what else do we want to look at? To do, let's take a quick look at the IWM. Got a request to take a look at that. Okay. You know, nice bounce. You're back into this candle of the first of October. They had just under 35 million shares. You're into it today with 21 million shares. So let's say you get to 25 million shares. You're going to be down by a good third. Okay. What else do we have out here that I wanted to look at? IWM, SMH as we looked at IGV, which is a software sector. We'll just go through all these ETFs and see if we have anything. This one looked like it was coming off much better than a lot of it. We're back up into what should be fairly decent resistance from September 20th and September 12th. What are we going to talk about here? And 500,000 shares. Kind of into it with about the same. So software actually is one of the stronger sectors that we're seeing out here. PNQI, which is the ETF I look for in, for software. This is where I'm starting to really get thinking that there's a lot of problems in River City for these big companies like Facebook and the rest. Literally no juice in these ETFs the last three days on the way back up. What else do we have? Let me get my list of stuff back here. Did the cybersecurity, let's take a quick look at the IBB. It looked like it was about ready to bounce a bit and did. Not hugely, but again, we had a fairly decent low at 9603. With four and a quarter million shares up today on two million shares. So maybe you get to two and a half. There just isn't that much. You've got some, you know, 2.8 million share down days into these lows. But again, an untested high volume low or higher volume low on October 2nd. That's why I keep hoping that we get a retest of these on lighter volume to set up the bullish case for the rest of the year. I think maybe if we get some kind of bad trade news, it comes back down. Earnings are good. That would probably be the best scenario for setting up some fairly decent runs into the fall. We'll take a look at the XLE. Again, with gold kind of being the weak sister, energy is kind of picking up for this weekend. The downside is just no volume. The last three days have been rather pitiful. We got to 12 and 12.2 million shares. That compares to the almost 16 and a half million shares down on the 1st of October. But just very wistful, wistful, wistful moves higher on that. And that's, you know, if it was just this one, it'd be different, but there's so many of them out here. IYT also looked rather strong with a lot of the rail companies starting to move. Did I type that right? I did not. IYT. There we go. If I can type YIYT, it's not IVT. There we go. Nice move in the IYT. I think there were a lot of people short this one. Again, you had a little better volume yesterday. 331,000 shares. You got 189 today and that is back into the 372,000 shares down on the 1st of September. So you got a lot of big supply line coming in right here and not a whole lot of volume also in the IYT. Let's take a look at the XLF. XLF. Nice bounce in it, but really no sign of strength. Looking back into the 1st of October that had 56 million shares with 52, actually a little bit better than I thought from earlier in the day. Take a quick look at the OIH also in the energy sector. Now this one popped kind of the last. Again, no sign of strength out here. A little under 10 million shares compared to the 12 million, I always call it 11.2 million shares from the 1st on the downside. These all have pretty much the same patterns and that is we kind of went sideways for a while and these things are popping back up, but they're popping back up into higher volume and we're probably not going to get any better volume on Monday with the banks being closed. So you do get up into these areas with fairly light energy. ITB, which is the building home construction. This thing's been on a one-way tear, zero sign that this is going to turn. You do have what I'm looking at in a whole lot of stocks and that is this possible of an abandoned baby if we gap lower on Monday. Again, entrances and exits very narrow on Monday. So any move could be quietly exaggerated, especially if you're short and they decide to run this market a little bit. But on the same side, not a lot of shorts left. So a gap back down to like 4325 on the ITB would be a nice little abandoned baby out there or a shooting star, whatever you want to call it. A nice little reversal pattern on the highs. Okay, checking my email. Let's take a look at some other ones. IYH, which is the healthcare sector, kind of a nice bounce in this. But again, volume is pathetic today, 36,000 shares that compares to about the same 127,000 shares back on the 24th of September. That's right at the base of that big volume day. This one's kind of lumpy though. So I don't know if you can put a great deal into it. ITA, which is the defense stocks. This is going back into the first of October again that had 216,000 shares. You got 96,000 shares so far. So again, yeah, defense. PPA, which is the aerospace. Take a look at that. Then we'll look at Boeing as we go into our break. Pop up on that. Your last big day on the October 1st down day, 135,000 shares.