 The following is a presentation of TFNN, the Tiger Technician Hour with your host, Hazel Chapman. Call now, toll-free at 1-877-927-6648. Good morning everyone, Hazel Chapman, Tiger Technicians Hour. This is the Friday, the 8th of March edition. We're looking at the down up 150 speed, 38,944. So during the update that I did at 10 o'clock, I say there's a particular technique, a particular pattern that I look at where there are lower highs and much lower lows. It looks like this, I call it the falling axe because it looks like an axe. There's the handle, there's the blade, expanding wedge formation. What happens is all of a sudden it finds a base and it takes out that declining up a trendline and then you can have a one-to-one in the same angle going to the previous high. Well, we haven't taken it out yet, but it says that if the dowel closes, I'm going to say close, I don't want just a pop and drop. At around 39,050, either today or Monday, then you've got to look at the left side high of 39,968 on the 4th of March, the 1st of March, and then the next high which is the all-time high of 39,282 on the 23rd of February. Now, yes, we are long term, I'm going to show this in a moment, I'll get to it. We are long term, long, no intention of changing that at all, but on the very short term, we've been short via the one-to-one short and that's the only one because the dowel went to a sell signal, not a sell mode, so I had to put it down arrow, but if it closes decisively yet again under the 40 and pre-moving average, that's going to give it a sell mode. That's an upgrade just in terminology, just say, oh my God, sell mode now it goes down to 35,000. No, it just says that's a designation and it means it's a more serious denomination than it had before, but look at this, the S&P hasn't even given a sell signal yet. I'm going to talk about this in a moment in different charts. It's got an alternate count G, so now it's gone to a D, right there, right there, and I'm going to go back into this pattern here. There's another technique that in the Chathamway methodology is called the instant restart. We're at a peak D, within three bars if there's a higher high, it becomes an E. It could become an E slash A, an alternate count and that's what you've got to be thinking and that means the previous high was at 51.49.67. That was the one right there at the inside track, repellent zone, then a pullback. Now it gets to D. G-SAS-C very often, most of the time, for about nine months now we're looking at so many other charts that go to G-SAS-C, then they go to a D and that's where you've got to be a little bit careful. But look, the 9-prim moving average is way over the 14. The magnate is good, it's not great, it's just good. So it keeps up the same directional arrow that it had before, which means it's in an up-by mode. The stochastic is flat at 80, what is it, 3%, which is good, and the on-balance volume is not a little bit, it's quite overbought. The weekly chart, as I've been saying for some time, is really strong. The only technical indicator, because the stochastic is flat at 97%, flat at 95% to 97% is fabulous. That on-balance volume is saying, we're really getting really close, but it's a weekly chart, close doesn't mean it's this week, it could even be two or three weeks, but we're really close to some kind of a pullback that affects the on-balance volume, so it pulls back quite sharply. That doesn't mean the price has to pull back, but it says this is where you've got to be a little bit careful, because the QQQ, and I'm going to go through some of these charts in a different way, there's leg E right now, all-time high, if I can just click on that, there it is. Okay, there's a new, so that is at 448.21, that's a new high, all-time high. Leg C in the weekly chart, that means on Friday, you have to almost get an immediate Sunday night to Monday, sharp for whatever reason, sharp decline, so that becomes the high for the week, because otherwise it's so close, whatever the high is today, if we open on Monday, anything but sharply lower, there's a real good chance that throughout the whole week you're going to extend this leg C. I'm just saying that's the way it works, and it's a leg B, very positive still in the monthly chart. IWM is something very different here, because as I said before, we don't have any cell signals at all in the other indices, only the Dow that's been heavily weighted, and I think you've got Microsoft, you've got Apple, they've not been very positive for quite some time now, about two, three weeks, and what I'm looking at, well, Apple's even longer, is that this breakout in the daily chart above the 205.49 high of December the 27th is doing it with all the technical indicators very strong, unbalanced volume isn't yet quite overbought, the statistics at 80, let me just double check, I think I did that, I forgot to change that, so I want the red one. Yeah, 80, click on it, 81. So 81% is good, look, this is a leg D, it's more extended in the Chamberlain methodology in terms of the terminology of the weekly chart, this is a D, we were looking at the Qs only in B, red or D means you could recycle, you could do a bunch of things, just as that's, red or D is where you, a yellow light flashes, that's all, do you stop, do you hold, do you keep going, you just have a little bit of caution, but this is a very good breakout, and you can see, this is with, we were last year at this level, back, this is in 2022, March, the high was 212.23, now we are at 210.41, I mean, that's, what's it, March, yeah, it's almost, it's almost two years, so this breakout is really significant, so I wanted to go through that, then I wanted to show you gold, gold is now up 13, holding very nicely above that trend line, this is, look, the stochastic is flat at 96%, not sorry, 94.01, and, well, it's actually 95, 95, the on balance forms overboard, Magdy's very strong, this kind of powerful move to the upside says that the histogram takes a while, that's the distance between the green line, that's the nine period differential, and the pink line, a red line this case, that's the 26 period exponential moving average, takes a while to even pull back, let alone cross negative, so this is so far a very good indication that gold has made a significant low, and this is very important, because it could stall some profit taking here for maybe a couple of days, but it's really important, the only way this would change, well, first of all, 21, 24 is the nine period moving average, that would be the first really big supported level, but the major supported level is at 2100, so something drastic happens, that does have a look of a single leg A up, and those things fail when they come back more than three quarters of the way from the high, let's go one step at a time, so far this is very positive, because the SI, the SI, silver, a leg B, the weekly chart is finally improving, because above the change of period moving average, monthly chart says, nothing to see, yeah, there's a big divergence between the two, silver down 06, 08 at 24.49, and while I'm here, I'm just going to go to a high grade copper, because high grade copper should be around, it's actually pulling back in a leg D, made a D today, let's see what happens there, and let's go to the dollar, the dollar is in fact pulling back quite sharp, it's taking out previous support levels as far away from the standard period moving average down 276 and one at 2.05, I'll be right back down to up 122, you'll be right back. 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Toll Free at 1-877-927-6648 Internationally at 727-873-7618 Since this is technical Friday, chapter away from methodology, we're going to do a little bit more detail and actual technique. I wanted to show you something here. I'll go the dollars down. It suggests that in a way, it's one of the parts of the puzzle that says that certain techniques that you can follow suggest that unless certain things happen to the general market and you have to have at least two consecutive sessions of minus 58 to minus 62 in the futures, the S&P futures, down, down in the pre-market, maybe 375 to 425, and it has to try to ready during the day and then fail and then come back again the next day. It has to be sharply lower unless you get that kind of intensity to the influx of new sellers. The general trend of the market is usually up. So I just wanted to get that out of the way and then I wanted to do this very quickly because it's so pertinent. We've just made a G, the chapter away methodology in the one-minute chart, but it's only a C in the five-minute e-mini. This is the S&P e-mini-march chart. We'll change it soon to the next month, to the next month, which will be June, right? And PXC in the ten-minute chart. Now have a look at this. Yesterday I showed this to the den and I said there are certain techniques that I like to talk about that are kind of core to the work that I do, while at the same time it doesn't necessarily mean that I do them myself because sometimes other things just your thinking gets in the way, your temperament, but if you're very strict about these rules, there are a couple of things. Look how important the 200-period moving average in the ten-minute chart was. This blue line I drew back around the 23rd to 24th of February and I said there was a long, narrow rectangle formation overnight into the next day. And then I drew because of the technique that I have in my webinars, if you're a subscriber you can see all the webinars. I discussed the mid-line, the mid-channel horizontal line in a long, narrow rectangle if it's one of significance at most recent highs. And then I said what I do is I just click it and I draw it in and it continues, it'll go on forever, right? And it becomes very important until you get so far away from it, it's unimportant anymore. Well, right here is a technique that I use the 914 crossover and I've said in the ten-minute chart, look at 420, I wasn't up at that time, yesterday morning on the 7th, the 9-period moving average crossed positive and it crossed positive 5111. If you use this particular technique, you could use other techniques, seven-wave techniques, but right here, when it made that peak E-top at about 2 o'clock, at around about 51, who, right there, at 5170, it then went sideways, then it crossed negative at 5157. This is one technique. So you would have been in, based on this technique, from 5111, could have gone off, done whatever it is, come back and said, yep, still holding the green 9-period moving average and then a moment across, you could have used other techniques, you got out of peak D over there, but whatever it is, just using this one technique, could have got out at 5157. So that is a 46-point gain. Then what happened is it went sideways, another one of those overnight sideways moves went a little bit higher. Now, what I didn't do, I was going to do it, and I just didn't do it, went to just a fantastic concert last night, so when I got back, I did some work, but I didn't do this, following the 9-period moving average, and then it crossed, when it's a very long rectangle, there's just a really good chance it's going to go peak D or E at some point, and then if it comes back and then the mid-channel line, if it takes out the mid-channel line, very often what it does is it goes right through it. Actually, I really should take it down to the low. All right there. Okay. So that's the, look at that. So what we're looking at is it goes, can you see it nicely? Just for the moment, I'm going to make it pink so that you can see it a little bit better. There are. I'm looking at Tiger TV. And what happens is with this rule is that if it takes out the mid-point, the mid-channel line, remember this was one from way back, this very often it goes underneath the rectangle low and then it's so quick that it tries to go back and if it goes back and doesn't break above that mid-channel line, just for the moment, I'm going to put it in right here. I didn't use this myself until later in the, earlier this morning. If it takes out this line on the upside, that's very positive. But if it can't break above it and falls, makes an arch formation and comes down, it's probably going to retest and take out that low. But look what happened. The 200-period moving edge became a propellant zone this morning on the economic news and then it popped up and now it's gone green and it went green at 8.50 this morning at 5,170 and now it's rallying. So now we're expecting the chaff me methodology that there should be a PXC and then a D. Does it have to happen? Almost all the time it does. But there are times, especially when you get an economic report, that might be a precedent for it to fail. But it's held so well. So you've got your G, you've pulled, there's your rectangle, you've gone under it. If it rallies and closes over 51, 19 holes there for about three or four bars, that's positive. It will say it will test the high. If it fails and comes down and takes out this load, it's going to be negative. But in the five-minute chart, it's a peak day. And then someone said, what's all that stuff? This is chaff me automated support and resistance lines right here. That's giving you the 51-84 is the last one. If it takes it out, it's going to go quite a bit low. Yeah. So I just wanted to show you that this is some of the technique that I like to use. And now I want to apply it here. So I'm going to go to this right here. This time I'm going to use, sometimes I'll just use this particular chart right here with the 914. But in this case, I don't want to do that. I want to do something else so you can see some of the other technical indicators I use. And this is where it's always a little embarrassing, not a little bit embarrassing. It's very embarrassing. Why? Because look, the SMHs, this is a weekly, I want to go to the daily chart. But this is a daily chart. This is the Dow. And the reason why, from 2022, from October, we've been along from that exact low. We've been, we've been along from 2020, the diamonds. We've taken some profits from a core position, take some profit here, go to core position, actually hold the UDOW as well. But look at this. It's being green. If you just follow this one, you can just follow this indicator. Look, you could have been on a nice cruise for two, three months. You come back and you say, wow, it's still green. It's getting closer and closer to turning pink, but it hasn't yet. So even now, a shorter term, short on the Dow, even though the Dow has been weak compared to the other indices, it still hasn't turned. This is a daily chart. It hasn't turned negative. The MACD, so this is what I wanted to show you, because a lot of you, if this is replayed during Larry's hour, and Larry's away at the memorial, I think it were a funeral, one of his dear friends, I'll just go with Larry. If you are looking at this, a lot of people use the MACD, the moving average for diverging. What do you do when there's a big divergence in the divergence index? And the one's going up, the one's going down. I'll talk about that when we return. Dow's upset. 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Read carefully. Distributor, Four Side Fund Services, LLC. Well, I've got to thank you Direction Shares for sponsoring this coming segment. We're looking at the copper up down $3.8 it's acting well so I was asked a question about TGB. TGB is the sake of mind. Every once in a while subscribers will get in for a trade. Didn't this time because it was just hanging around here. So remember this is the starting point right right here. This is the starting point of the move up and that's at 1.27 I believe if I could just get this mouse to work nicely there we go. So that is on the 1.27 on the 22nd of January breaks the resistance level goes to a peak P pulls back sharply. Now remember this is your starting points in the Chapman Wave your only obligation is it can each success be higher peak and lower trough. So this is your start so every single peak gets counted. So that's B then it goes underneath it it's a gray A but underneath it there's another lower peak that's an A I didn't have time to make a gray that's an A therefore this B right here at 1.58 I remember the previous peak A was 1.57 so this becomes an overlapping peak B when you get an overlapping peak B it's like a Chapman Wave restart not an instant restart it's called a restart you've come off the low and you've gone to a sideways thing you've had a lot of peaks underneath the initial one and when it takes off if it's an overlapping wave it should go to a C and even a D objective in the Chapman Wave is to get you from a bi-signal to a bi-mode going to a D so this is now in leg C a monthly chart making the high that was made back in the week of the 21st of April is to saccharise T GB up 0.07 up 4.2% remember low numbers give you good percentages so the target will be 1.79 we're at 1.75 already today so it should be an easy punch to that upside but look at the long-term inside track so this this these two lines are really important why because it hasn't broken above it hasn't broken above at all since the top of 2.67 back in May of 2021 then the next top of a lower top of April of 29 April of 22 at 2.41 and that trendline comes in right there so if on a monthly basis you could see and move I'm going to say into the 2s 1.85 1.90 but really into into close to 2 on a monthly basis that's going to be really positive and it'll be positive for copper now this is very important so yes I like it I think it'll be pulling back maybe a little bit but the objective is with a 9-period strong the back D strong stochastic at 85% this should begin the on balance one is a little overboard so you can expect some kind of a pullback the monthly chart the weekly chart has a lot of work to do but that's that looks good so the key support is between 1.59 and 1.50 at this particular point okay I hope that helps you next question I'll do that right now Costco Costco I had a fantastic move from it went to 787.08 yesterday is that correct it updated 787.08 so what's fascinating to me is that I haven't seen any round numbers in Costco so many of the stocks have had round numbers especially in the tech sector but I did see an open of 755 I think I forgot to put it in 755 on the 4th of March it ran up to 787 and it's trading now at 739 and this is what I'm anticipating is going to happen in the semiconductors over a period of I said not in an immediate thing 7 I can't remember what I said 7 I think I said 7 775 I don't know I'll have to change it that was the open so within that context oh no I think it was lower than that I'll change it just now but within this context what we're looking at is it's actually a leg F C I had an alternate count only because I had to continue the wave count alphabetically ABCDFG and then you can never get an H so that's we have to do you have to go back but this is a chat we've incident restart there's a chance that Costco making an all-time high pulling back pretty sharp I mean 787 to 740 that's a 30 it's a 5 5 6 just on the day it's a 6 almost a 6% pullback and it's given back 1 2 3 4 5 6 7 8 9 almost yeah 9 sessions of upside in one move now I didn't expect that's going to happen I don't even know why it would happen in the in the semiconductors because everything I mean all the who knows it'll have to be competition have to be geopolitical thing whatever it is so Costco is acting well and the question is I'll just do it the question I always ask is do I buy do I sell do I hold what are you looking at it fresh so this peak right here says that all the technicals are still very positive the weekly chart is fabulous and the monthly chart is outstanding and it's an a leg C oh I did the same thing yeah you see remember those little A's that I had in the TGB chart there it is yeah it's just starting point and every peak needs to be accounted for and therefore once you get this restart you get the it invariably says you should go to a D that's the objective it's in a buy mode Costco should go to higher highs in 2024 doesn't give you time other things give you time so this pullback says there's a chance at Costco for whatever reason this this whole cluster formation with a chevrolet instant restart right there because that one worked I want to go back to that in a moment one two three bars breaks the new high I found so many times that even though you've had a huge different pattern on the on the right side if you go back and use that invariably the overlapping wave says it the GCSE is going to go to a D gosh that's exactly what I was talking about with advanced micro devices yesterday and yes AMD gone it wasn't AMD what was the chart I was looking at yes right AMD I said is it a peak C and it should go to a D it was an overlapping wave and today we've got on the left side in leg D all-time high I've got to check about all-time high because it has a pattern that goes to single digits and then over a year or two it screams into the not just double but the triple digits high double but triple digits so I'll give you back let's go to Costco and this is what I'm saying a digestive phase and whatever it is a big pullback and it's at the low of the day which means that there's no rebound it was oops that's just a one-off error in the discussion from the CEO or whatever gives you the off-the-hours comments no this is serious so I'm saying that be careful 7 no great that's a great 713 is a ninth-grade moving average in the weekly chart so what I am saying Costco is not a digesting game I don't think I don't think this is the one where you have to grab it because it's going to go back to a new high right now I think give it a little time give it let's look at it maybe when so Thursday or next week and then we can be able to tell how does the rebound always going to make lower highs and lows 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.com 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 supercharge your trading results market insights comes with a 30-day money back guarantee for all 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index or security for more than a day before investing carefully consider a funds investment objective, risk, charges and expenses contained in the prospectus available at direction.com be carefully 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 first we're back and we're looking at the Dow up 69% of 25 now what's really important I remember now what it was it was the NVIDIA back in late January early February we had a timely instant restart and that is you go to a D and within three bars was actually you have three bars it makes a new a higher high than the left side high so that to me said that even though you went to a peak E after that pullback and then an F I called it F slash A and then a G slash B this is a G slash C right here and what did it do and I I keep getting questions about this I have questions myself I the back of my mind I think I know the answer but you have to look at the evidence and the evidence is the chart and the chart said that the Magdi is strong the 9 is over the 14 prices way over the 9 the daily chart stochastic is at 97% you know I keep needing to get it out of the green line I want the red one which is a slow moving average at 96% and the on balance volume is overbored so nothing here other than the on balance volume is telling me that this is ready for a pullback and that doesn't give you a timing thing it just says getting ready overbored I've got this as an earnings earnings which was favorable and right there it broke this cup formation and broke to the upside I have this in leg F in the weekly chart that could be changed because it's such a huge candle it actually looks like an A actually or a B but anyway it's an F and it's a leg C in the monthly chart and you see these letters here this is I haven't changed it because I notate everything by hand this is the previous before in the video was split it's now way above that way way above that in leg C in the monthly chart that's still very positive so in the Tiger YouTube who was it someone said Zenbeth said Nvidia just hit a round number 974 and backed off yeah so this is a 974 round number now I just want to show you something and the question is remember I don't treat this as just an instant thing it's something that you look back it's kind of a warning signal to say people were so desperate to to get in that they were just they just snapped it I wanted it 350 I wanted it 220 I wanted at SMCI super microcomputers look at this this whole cluster of round numbers and even today what did it do it had a high it's got a high so far of one two look at all these ones that just disappeared it has a high today of 100 and 1,229.00 and it opened at 1,212.00 I don't even have room here I believe that when we look back at some point that is going to be such a barrier on the upside that it becomes very significant I don't know if I'll keep all these I'll try to I have to take me two minutes or something to click and get rid of every one of them I can't believe from right there it's actually a little low but this could go from 790 this is 20 points or so we've had round numbers so people have been so desperate to buy and that just says to me that we are getting really close to some kind of a significant economic something's going to happen that will impact the semiconductor index and I will only know that that's a fact when all of these stocks are trading well below these round numbers but I've never seen this before so many round numbers every day now it's maybe that's the new pattern that you've got to look for because you buy it the lower you sell it the higher so you just grab it or whatever it is and it'll be a round number I don't know I'm telling you it's going to be significant just exactly when I can't say but I that's why I'm looking at it right now I don't want to do it when they're coming out with fantastic earnings using this one technique which I did I've done it for the Dow I refuse to change for our long term outlook this is very positive look green in the dating this nine period moving average and I want you to mention this before so this is for those who are technical analysts and use the magti the moving average convergence divergence I used to say always look at the yellow line or whatever it is the upper line because that gives you the if you close your eyes and you look at that and you close your eye and I I use this because some of the black child back black background charts we see are very difficult to I love the black because you can use all these different colors and they mean something very important close your eyes and you'll see that that yellow line is essentially framing normally it frames the price movement but look what's happened the magti is being very sluggish it's not an even close to the high and yet the price has gone up because the stochastic is flattening like in lower highs and lower lows look at the on balance volume that green line it's up at the top well look how easy it is green keeps you in look at the SMHs green and I'm embarrassed it was such an easy thing even every day when I was saying could be a pullback and they were pullbacks but so minor I should have said hold it don't fold it it's green but the thing is when it gets this high to wait for that green line which is the 9 period moving average positive to go pink like just for that one brief day all the way through right here when it was pink back in 2023 in October November that means it has to probably come down to 210 this is the where it was just a week and a half ago yeah but you have to wait for it to get probably down here for that to change to pink and it's a whole process because the green has to still turn down and then come down slowly the MACD has to start pulling back to get negative so yes it was an easy trade and I didn't do it and to my subscribers I apologize that was one that I just is all there even today technically you should be able to buy it right here and just wait for it to turn down but of course that means you buy it at 240 and 236 right now so I wouldn't be doing that but that's the technique okay I wanted to show it because it's so now let me show you something else here's the TLT TLT flip to positive right the stochastic's flat at 89% and the on-bounds once pulled back but it's green so that means that for the yields to go higher and it's certainly we've got a week coming up and it says maybe that's what's going to happen that the Fed speak whatever it is the economics situation shows you that there's buying activity and therefore you the market pulls back but that's what you have to wait for right now so I want to go through this I had another question so just going back to the Costco let me show you something interesting Costco and Walmart are in the same category but they're very different right so Walmart trading right now down 0.46 at 59.91 I hit an all-time high yesterday of oh my god it had a round number open of 61 so it's it's filtering it's filtering into areas of that we've seen before and how often do you get round numbers in any stocks they're alone round numbers so and there it is underneath it at 59.91 all I'm saying is I believe it's going to mean something and it'll be a process it isn't a one-day thing so I'm watching this very closely alright I'll be back for the final statement wow I've got a lot of things are you ready to take charge of your financial future TFNN is your gateway to the world of trading and investing whether you're starting out or scaling up TFNN empowers traders and investors of all skill levels with top-notch investing systems strategies and techniques it's time to protect and grow your money with insight you can trust join us live Monday through Friday during market hours for exclusive content that moves with the markets at TFNN we bring the trading floor to you our season hosts are here to answer your 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be TFNN educating investors mobile device 24 hours per day go to TFNN.com and hit watch Tiger TV that's TFNN.com and hit watch Tiger TV the investors their thoughts that Costco and Walmart are still in the right sector in 2024 they should make higher highs digest the phase going on right now the question came in right now just sort and I'm starting to get used to my new service for Michael yes you just started a position it's in leg C it's really a sideways move and the monthly chart really is not that positive but if you've got that and you're looking intermediate term let's just say that for the intermediate term I don't know what you want to do if at 93 right now now number actually 93 if it closes under 80 I'd say under 88 in the next week we've got to read that intermediate term what you really want to see is to see SWK standing back in decade trading in 90 people near zero you want to see it up in the 90s 96 20 area give it a few weeks and that'll say that seems to be a check so I'm anticipating that with this nine period moving average still strong in the E in the E money that you're going to get your leg B and then you've got to be care-focusing the green line is still very positive and we'll see what happens