 Educating Investors. The following is a presentation of TFNN. Trade what you see with Larry Pezzavento. All now toll free at 1-877-927-6648 or internationally at 727-873-7618. Now, Larry Pezzavento. Okay, looking good, Billy Ray feeling good, Lewis. I posted the chart of the Dow E-mini. We just made a 3-8-2 retracement on the day. Whether that means anything or not, I don't know. If it gets above 1 or gets above 33-850, I would say it's no good. But right now, looks like it might be working. I'm going to cover some others too, folks. Our guest today was supposed to be Jim Bartolioni. But Jim is not going to be able to make it. He forgot that there was something really big happening today. One of his classmates from the Naval Academy has been made the commandante of none other than the Navy SEALs, the NSWs out of San Diego, California. That's where they're trained. And Jim's good buddy is going to be the commandant there running all the Navy SEALs through this level. So let's give him a heads up when we have him on next week. Monday, of course, we're having none other than Mr. Norm Winske of Astro Trends. And then on Wednesday, we're probably going to have Jeff Huge. On Thursday, we'll have Stan Harley. And Friday, I'm trying to get a special guest lined up for us. Haven't heard back yet, but he's a world-class guy. And if we do get him, it'll be really fun. He's only been on once before. Now, folks, this is a really big day. This is a big week. Remember now, I am a technician. The news means diddly squat to me. Never has, never will. But remember, we were watching here. Here's where we were. I'm going to go through these again because they're that important to me because I am going to be loading the boat on the short side today if we close lower. Okay, here is a 200-day moving average. Coming down, that's basically a 1-3-5 pattern, folks. That's where we are right now. I'm going to do the Dow Jones chart right after I do the second chart here because I want to do this because this was sent to us to give us some good information. And so far, it's been good information. Now, if we go back and we compare where we were in 2008, if you remember, 2008 was the low going into 2000. The low was not until March of 2009. And you can see there we are again hanging right at the 200-day moving average. So that means that the market is repeating what it did 14 years ago. So let's pay attention to that. There are a couple other things that are pretty important that we have already talked about. One of them was we're going to take a look here at the cash S&P. I'm going to build a case where you better get out of your lungs or stay short, folks. We're closed strongly up today or up Monday, Tuesday. Any time we take out those highs we made this week, this is all bullpucky. It ain't going to work. So you don't want to stand in front of it. We had that big ABCD up there at the top. There's your little three-drive pattern that we pointed out to you. And then also, of course, when we were on the show on Monday, we were talking to you about the, excuse me, it was on Tuesday. We wanted to get this up here to remind us that what we were looking at here was the 1.618 expansion in the Dow Jones E-mini, right up against that number that we're looking up there, 32,252. So that was very important. But then, of course, the big one, and that was the daily chart of the Dow Jones E-mini. And I will get that up here right now and you'll be able to see where we stand and why we are so bearish at this particular point. And this is patterns fail, and when they do fail, they go the other way. There was your 78% level right up here. We hit an absolute spot on. Okay, now we get above that. This is all baloney because all we've done all week long is go sideways. That's all we really know. We're down a couple hundred points, but that's nothing amongst boys and girls at the New York Stock Exchange. So this is why this is setting up to be a potential for something extremely, extremely bearish, and that's why it's so very, very important. Now, I'm going to go through a few other charts that I think you'll find interesting. And if you don't, that's okay too. But here was the low we made today. I wanted to point this out to you because this was completing. Nothing really super bearish is happening here, but here is the Dow Jones E-mini this morning. Of course, we went up and we just made the 382 up here. That's why I marked that in to let you see that we did make that. So as long as we hold this level right here, this still looks relatively bullish. If we close below the lows today and we've got a couple hours to about three hours or so to go, that is going to be extremely, extremely, extremely bearish. So we need to pay really close attention to that. So let's remind ourselves of that. Now, one other thing that happened this morning, and those of you that like 382s, I want to bring a couple of these up here to show you that they do work some of the time, all of the time, never, but some of the time, yes. There was your 382 retracement up there right after the opening at 42.61, and we came down, made new lows, we rallied back and just bouncing around right now. Not too much happening. So those are the things that we're paying close attention to right now. We're right back to the 382 now and the Dow E-mini at 33.810. And as long as we don't get above 33.850, that 382 is holding. So that's the main thing that you've got to remember. These patterns basically repeat and they give you a probability, but that's all it is, boys and girls. It's just a probability. Trust O'Billy Ray on that one, please, because when they fail, or they fail really badly and you don't want to stand in front of them when they fail. Okay, now, a couple of things that I wanted to show you that will help you in your trading in the future. I hope so anyway. Here is the big trade yesterday that we were talking about. And of course, those of you that belong to the 24-7, I sent out a video last night after the close and said, this is not going to work. And the reason behind it was looking at the euro, because you know the dollar index, if it's strong, it's really difficult for gold to go up. So there it was right at the 382 retracement. It did rally $5 or $500. It got up to $17.75 from 1769. And then from 1769, it went down and has made new lows. Now, let's play the devil's advocate here for just a moment here in the gold. If we think that this pattern is going to fail, what would be the very first thing we would want to be looking at in gold today to find out whether this could possibly be a good entry from the short side? Does anybody want to guess? Ah, we have a winner from Palm Harbor, Florida. Mr. Joseph Arafat. No, that can't be right. I can't read the last name. Anyway, he said, sell the first 382 retracement. Well, Joseph, you win the Cupid all. So let's take a look here. What happened to gold today? And we'll see if the 382 was our friend to not or today or not in the gold. And as you can see, there's where we went. We rallied up exactly to the 382, 1772. And then from there, we dropped $12, $12 down to 1761. And we're still moving lower. We'll take a little break here. 877-927-6648, Philly Ray Valentine, Capricorn. At a time of booming inflation, we are purchasing powers eroded. There's no better place to protect your harder and money-thinning gold. This is the gold's flagship asset, which is the Mount Todd Gold Project in the Northern Territory of Australia. This is Australia's largest undeveloped gold project. We are talking a world-class gold project in a tier one mining district. This is a large-scale, low-cost project with significant existing infrastructure in a politically safe and friendly mining jurisdiction. This, the gold just completed the Mount Todd Feasibility Study, which resulted in a 7 million ounce gold reserve in a 16-year mine life. All of this combined with the approvals of all major operational as well as environmental permits. This distinguishes Mount Todd as an attractive, diverse party, ready-development stage gold project. This, the gold trades on the New York Stock Exchange under the symbol VGZ. 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. Are you looking for a way to consistently add winning trades to your portfolio? Tom O'Brien is here to help. Tom O'Brien has been successfully trading markets for over 30 years. A frequent contributor to TD Ameritrade Network and CNBC, Tom O'Brien founded TFNN over 20 years ago to help educate investors just like you. Tom's Daily Market Newsletter, Market Insights, is published every morning when the markets open to give you the competitive informational edge you need to succeed. These newsletters are packed full of Tom's advanced technical analysis and are geared to deliver comprehensive strategies for a successful portfolio. Get Tom O'Brien's newsletter, Market Insights, today and try all of our products and newsletters 30 days risk-free with our money-back guarantee at TFNN.com. TFNN, Educating Investors. Okay, folks, I'm going to switch over and talk about the bond market here. This is what we're looking for for this week as our profit objective. You can see that's a garly pattern down here at the 50% level. We had the big ABCD. There was the 50% folks on the Treasury bonds. Remember, the notes went to the 382. That was up at 46, and now we're trading eight handles lower. And with this market breaking like this, we could easily go down and take out these lows without any trouble because the bond market is in big trouble, folks. There's not too much the Federal Reserve can do from this level based on what I look at because these markets are beginning to look weaker and weaker even in stocks. So let's remind ourselves of that. Wow, the F-16s are flying around today, folks. I don't know if we're getting ready for war or not, but boy, the planes. We have Davis-Monton Air Force base here. It's a huge Air Force base. They even have the supersonic plane coming into the, what's they call that big thing? I can't remember now. Anyway, that big plane comes in. Oh, shuck. Anyway, it's incredible to watch. It's really amazing to see that. What is that name of that spy plane that flies all over? I'll think of it in a minute. And let's move on here and talk a little bit more about these bonds because I think we're going to go a whole lot lower in the Treasury bonds, folks. We're in a bear market. We've been in a bear market in Treasury bonds for two and a half years. If you remember at the top, they were trying to feed us the cannon fodder about the old negative interest rates. You got to use a little bit of common sense in here. And speaking of common sense, let's talk a little bit about natural gas because we've been talking about that every day here. I wanted to show you yesterday's action just to give you an idea that you don't have to be a rocket science to do this stuff, folks. If you take a look at this, this is just a small interday chart on the natural gas. As you can see here, it's an hourly chart. It goes over the last few days. You can see the load that we made here was an exact 3A2. You can see the beautiful ABCD that was there. There's ABCD coming in right at the 3A2. And then we go up and make a new high. Folks, when that happens and you come in for today, the main thing you want to do is you want to measure this low here from that low there just in case, and you know, just in case, it happens to be a 3A2, okay? So what are we going to do today, boys and girls? We're going to take into Mr. Rogers' drawing room and we're going to draw it for you so that you can see it and you'll be able to see where we are. And there it is right there. 3A2 right on the money and you can see we've valued well over $4,000 and we're still going up. So that's the one thing. We get a real strong trending market, either up or down. Watch for those 3A2s. And when you make a lower low or a higher high, double check that 3A2 again, because it's going to go up. These folks that are doing this algorithmic trading stuff out there, folks, they have to be using this kind of stuff because you can't see these numbers day after day and they're not paying attention to that. Hello, operator. I mean, give me a break. When I first started doing these books, the F word was not Fibonacci, it was something else. Fibonacci was the new F word because it didn't even become popular until probably 15 or 20 years ago. And so, hell, that easy that. Maybe 30 at the most. But you don't see Fibonacci in any of the early literature with Wycoff or Gartley or any of that stuff. They knew 5A and they knew 3A, but they didn't mention Fibonacci. Eliot was the first guy to talk about it in 1938. He talked about 3A2 and 618, and that was the extent of it, 50% maybe, but no 1.27s, no 786s. And there may have been a 1.618 in there. I can't remember because it's been too long ago since I've looked at the Eliot wave stuff. But I gave up on Eliot folks when I had my friends come into the trading room there into Epismo Beach, Bob Miner, Glenn Neely, Bryce Gilmore. He was there three or four months every year. And these guys were experts in Eliot wave. When you get three of them in the room, they couldn't tell you what time of day it was because they couldn't agree whether it was a one or three or five or four or six or nine or 12 or 13. And I'm over there trading. They said, how can you trade if you don't know what it is? I said, I don't need it. This is all I need. I know one thing, AB equals CD. Beyond that, they'll make a whole lot of difference to me. But that's basically how I look at it. I keep it as simple as possible. And that's basically it. I know there's a lot of really, a whole lot of smart people out there that do some great work. And I respect it and I look at it. But when it comes down to it, the one thing I know is AB equals CD. So Mark used to tell me, and that's where my game plan is. And that's where I stand and stay that way for quite a while. I look at other things, but you know, some of these guys in astrology and stuff, my God, they're incredibly smart. And all I know is I know one thing. I know if that thing's working, it's going to work. And if it's not working, I'm going to lose and move on to the next one. Now, I've got an interesting chart here. One of our guests, not next week, but the following week will be J.C. Parrots of all star charts. He happens to be on holiday right now. Down in Florida somewhere in one of those beautiful beach cities. But he brings this chart and it shows you where we are here, folks. Silver in relation to the price of the S&P. In other words, Silver is at an all-time low in ratio to the stocks. Now, I don't know what that means. All I know is it's making new lows. And Silver is certainly not making new lows. It's trading for 19. The low was $17 an ounce. So I'm still very, very bullish on gold. But the fact that it didn't hold that number tells us that we want to go lower. And now we had the break, you know, down to 1766. We had the rally up to 1772. That's going to give us a price around 1756. Now, ideally, what I'd like to see in gold is see a really big washout. And then we'll be able to take a look at it. But frankly, I think we've got a chance here in some of these to get a little bit better prices going down the road here. We'll see where we are to that point. Okay, I wanted to double-check to see a couple prices in here to see how things are going. Now, one of the reasons, the main reason why we exited the gold yesterday, folks, after we were on the show here, I put the video out immediately after the close saying, hey, this ain't right. Let's get out of the way. And the reason for that, I'm going to bring it up here and show you which is the euro versus the US dollar. So let's get this up here and we'll be able to see it. And there we go. There'll be a lot of videos on foreign exchange this weekend, folks, because we've had some really important things happen in the dollar yen and the Canadian dollar and also the British pound. The British pound has some really good news today and the market tanked down below 117. And remember, we got up to 121 just the other day and you gave it all back. But look at this downtrend that we've had in the euro, folks. I mean, look, 382, 382, 382, 382. And now, folks, we're below this level right here. That's today. I mean, that's what we were breaking down last night and I said, hey, it's going to be real hard for gold to rally. And I said, I just didn't want to take the risk. And so I decided to stand aside and wait and see what the next step is going to be. Now, we get back. We're going to talk about something at Mr. Zachary, Mr. Z from... Where is it? If you want to take advantage of this sector, now is the time to subscribe to my gold report. The gold report is a comprehensive look at the metal sector as well as the markets that move gold, which is the currency and bond markets. News subscribers get a 30-day money-back guarantee so you have nothing to lose. Every Monday morning I publish the gold report with coverage of gold, silver, bonds, the XAU, HUI, GDX, as well as more than 30 different mining equities. To see for yourself the types of profitable trades that are recommended within the gold report, sign up now by visiting TFNN.com. Don't miss out on the next great gold trade. Sign up today. TFNN is excited about our new software charting program, the Art of Timing the Trade Chart. In collaboration with Tom O'Brien and using his best-selling book The Art of Timing the Trade, your ultimate trading mastery system, David White has programmed an outstanding piece of software that will complement any trader's methodology. Using this first-of-its-kind program, the Art of Timing the Trade Chart allows you to scan thousands of stocks for Fibonacci formation setups, including guardleafs, ABCs, butterflies, and much more. 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Anyway, I posted the chart of the euro and as you can see here, folks, we're below the 786 and we're heading lower. I think we're going to get below par this next coming week. We're trading at only 30, we're 40 pips away from taking that out. That's a small amount for the euro, but I believe we're going to make a bigger ABCD down there at around 96. Remember, back in 2000, the euro was trading at about 84. So it could easily go back there again without any trouble at all, considering all the problems that they're having in Europe. We have a good friend over in Ireland and it's very, very hot over there. In fact, it's so hot that they can't even turn the air conditioning on because they don't need air conditioning very much, but there's just not enough energy to run it all because they have to ration it. So that's not a good sign. I mean, we've seen some of these things happening. We've got $9 now in our natural gas. Remember, folks, the high in our natural gas contract several years ago was at 17. And from 17, we went down to $3, if you'll remember. And from $3, we've been up to nine and now we're getting ready to probably break out to the upside from the strength that we're seeing today. We could probably do that without any trouble next week. Now, we want to talk just a tiny bit because this has been a really big week from the metals. Let's try it again, Larry. From the energy standpoint, you'll remember here, this is the weekly chart that we were focusing on all week long with the crude oil. We want to get up here to see there's the 382 retracement. Wow. Timeout operator. This is a 61% retracement, folks. You can see it right here. 61% retracement. I drew in with the Anson Tool, the ABCD pattern. It comes in at 87.01. The total was 80. 86.15, I believe. 85.85, something like that. And now we've had a pretty good rally. And this is what we were talking about last night when we were bringing things up to you for today. I want to get this up here so you'll be able to see it. By the way, folks, today is a big day. Today, my little daughter, Jilly, the oldest one is 54 years old. Believe it or not, I can't believe that myself. Anyway, there's a perfect 61% retracement off of the low that we made right down here, which was the low for the contract. Then we had higher lows all the way through here. And then we had the big low today, right at the 61% retracement, and we were really immediately rallying over $2,000 a contract. And so those are some of the things. And that was happening when the natural gas was starting to run too. So energy was in play, you know, very strong today. So we want to remind ourselves that this may or may not be a major bottom. But what we should do is to go back and because these patterns repeat, and I know you forget sometimes, and I certainly do too, but if we take a look here, this is going to be the one on the as the heady oil. As you can see here, we made the beautiful ABCD butterfly pattern down there at the bottom. Now three drive pattern would have had equal bottoms, you know, three drive, but because this bottom is higher, that means it's a butterfly pattern. If this was lower, it would be a three drive pattern. It's all related to you know what folks, are you ready? AB equals CD and look where we're going now. AB equals CD, we're heading up to this first level of resistance in the heady oil. Now the next one we want to take a look at, I'm bringing this to your attention because I think these are the main things that happened this week, folks, and we've had a pretty big week here. So let's just remind ourselves that these patterns are predictable within limits. Okay, and now we're looking at the gasoline contract. Folks in Tucson are gasoline from behind that we had at 501 per gallon all the way down to the low we've seen this week is 341. We dropped $1.60 a gallon in these past three weeks. And now you see the ABCD that we've got forming here, and we want to measure, of course, this weekend, we want to see what that 3-8-2 rally is going to be. Now something very exciting happened here on last yesterday, folks. You know, I play poker once or twice a week, if I can, at least two or three times a month down at one of our casinos. We have two of them here where we play tournaments with Texas hold them and you buy in for 60 bucks or 70 bucks and you get to play with 40 people and they split the top five players and that kind of thing. But in that game are always border patrol agents because we're right on the border, folks. The casino is exactly 51 miles from the Mexican border and these border patrol guys, you know, they've been career people and they tell us what's going on in the neighborhood and yesterday I happened to be down there. I didn't get a play very much, but I had to go visit someone for a minute and I talked to Mike and he said, you wouldn't believe he says, one of our agents picked up this week and I said, what was it? He said, they picked up a duffel bag just inside of the Mexican border about 12 miles inside the Mexican border on the US side. It was a duffel bag and in the duffel bag there were 20 guns. It was one of these big duffel bags and it had two AK-47s, two AR-15s and a whole bunch of handguns and MAK-10s, these automatic pistols and every single one of the guns, folks, had a custom silencer and these silencers were manufactured silencers. These are not the kind with a paper bottle and a plastic bottle and styrofoam. These were actual metal ones that attached to the guns and I asked Mike, I said, what do you think that bag was worth? And he said at least $50,000 had a thousand rounds, roughly a thousand rounds of ammunition and it was just laying on the side of the road and the only thing to figure is somebody didn't want to get caught with it and just left it and drove on. But that's a big, big that's a big thing, $50,000 in guns, but silencers, folks are extremely illegal. I think it's a minimum of a $15,000 fine in one year in jail as I recall, that's what it used to be. I've only had one gun, this was 40 years ago, I had one gun that was a silencer. It was a 1925 flat black Colt. In other words, it was a Colt 38 but it was really slim and it had a silencer connected to it and it was in a wooden box, a presentation type box and it was part of the US government a government issue, so it was a spy type gun, but I sold it oh my gosh, I sold it for about four times when I paid for it back in I think I sold it in 1971 or 72 somewhere in that ballpark but that's neither here nor there. I have only a few guns left, I mean really I'm down to maybe 40 or 50 hand guns a couple of machine guns a large rocket and what else I have? Claymore mines, I've got a lot of claymore mines around the house to keep the bad people away. Alright, I want to show you something here from my good friend Zachary down there in where are you from? I think he's in not just Mississippi or someplace like that he's got a really cool chart here this comes from the hold on just one second here we'll get this up here and you'll be able to see it. This comes from McClellan Oscillator folks and this shows you basically that we could be topping, it's a five year cycle that we could be topping in inflation but remember folks in 1980 when Volcker took over, you know we had interest rates at 13% that didn't get cleared out until 1992, so we could be looking at a serious inflation here. Let's take a break, 877-927-6648 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? 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you all the information you need to understand the technology that shapes today's markets and tomorrow's future David White has made his living staying on the cutting edge of technology his weekly newsletter will give you specific recommendations for value tech stocks as well as entry prices, target prices and stops to set for each trade Dave delivers his weekly newsletters every Friday with updates throughout the week you can get the technology insider at tfnn.com for only $37.50 Sign up for David's newsletter the technology insider and get an inside look at everything the technology sector has to offer try it risk free today with our 30 day money back guarantee tfnn Educating investors Biotech is booming but for how long whether you think the Biotech bull has room to run or has run its course trade LABU or LABD Directions daily S&P Biotech 3 times bull and bear ETFs Visit Direction Investments.com slash Biotech today investors should consider the investment objectives risks, charges and expenses of the direction chairs carefully before investing the prospectus and summary prospectus contain this and other information about direction chairs to obtain a prospectus or summary prospectus please contact Direction Shares at 866-476-7523 the prospectus or 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 4side fund services LLC this program is brought to you by Vista Gold traded on the NYSE American and TSX under the symbol VGZ ok folks if someone asks the question they miss the first part of the show and they ask what was the most important chart that I looked at today and I posted that chart of the Dow Jones E-mini the daily going back to the high we made on January 4th you can see the 135 pattern completing right here at the 78% level that was just a few days ago when we were at 34,002 when we were at 34,002 when we were at 34,002 when we were at 34,002 can't remember what it was 34,002 I got it right here just a second it was at 34,200 by the way if you sold that 382 in the Dow E-mini you've got about $400 profit in it so for God's sake don't let it go to a loss if nothing else I would hold on to it but I would certainly keep a stop and break even because that's where the 382 came in but this was just one of the charts folks remember there was a chart of how the 200 day moving average was the same as it was in 2008 the same type of a 135 pattern we also had the fact that the SPX was making the 1.618 expansion we also had the Gartleys that were happening in the Russell the NASDAQ and all the others coming combined it's telling us that yes there could be something really dramatic in here and so I think it's important that we do this another question that someone asked me is about things that happened in the news plots I don't know what you call these things but I really don't get involved I try not to to my ability it's not always easy when you hear about these conspiracy theories and all this other stuff folks I mean God I've been listening to this stuff for so long I was really really heavily influenced when President Kennedy was killed and because I had one of those guns those Mandlaker-Cacano rifles that Mr. Oswald supposedly used I can promise you two things one folks Oswald did not kill President Kennedy with that gun he might have used a different gun but he didn't use that gun that gun couldn't hit the side of a barn and the reason why it was an Italian knockoff of the Mauser action in other words the bolt action on the Mauser was absolute precision but on that Italian rifle that bolt wiggled back and forth so when the bullet went out it could go anywhere 30-40 feet and remember he was a long way shooting at a target that was 19 era that was I forget how far it was but in a way that they could fire three shots with that gun during that time and that those are just little things and this was such a what am I doing I'm getting talking about conspiracy theories anyway that's what they did for me folks I said well after that you know I don't want to pay attention in fact the guy running the whole thing was Chief Justice of the Supreme Court Earl Warren anyway that's neither here nor there so I'll move on to get back in to that level so we'll see what's happening here so I try to stay away from it it's not easy but that's the way that I'm looking at it as I see these things several people have asked me about the grain markets I still think we're going to be moving higher folks we've got shortages coming this next year if we don't have a bumper crop and corn and beans and wheat look at wheat this is going to be the focus next week looking to buy wheat because we're seeing wheat prices you know collapsing we were $14 in wheat you know just not too long ago and you know I mean look where we are now folks I mean my goodness let's just get this up here so you can take a look at it because we're down here where we want to be we're about half the price of where we were they're giving a discount you know from $14 to $7 now down in this area this is the area where we're looking right now this weekend is we want to be watching for a possible bottom in the wheat because this has got all the all the attributes that you want to see you've got the three drive pattern coming down in making new lows okay you got the whole world bearish I mean how many people were bearish up here folks remember this was when Korea the Crimea was going to blow up and all the wheat in the world was going to be gone and everybody was going to starve well now they can buy it for 50 cents on the dollar and nobody's starving so that's neither here nor there but we're going to be watching wheat for potential buy down in this area because it's got all the things that we like to see we got the supply demand now in our favor you don't have to risk very much at that point do you no not too much but we want to pay really really close attention to it because that's what we want to be that's what we want to be watching for is a potential buy down here in wheat I don't know if we'll get it below $7 but we might get close to that and if we do and if we do that would be a good sign to be getting along the wheat corn is still acting relatively bullish as is let's just get the corn up so you'll be able to see here this was as of Sunday night and of course oh we got Mr. Z on the line from Philly John how are you Larry I'm doing very well I uh I love hearing your stories especially about one of Jim B. Powell Jim B. Powell who is taking over as coming down yeah he'll tell us about it next week when he comes on yeah he's a big he's the top Navy SEAL now but Jim was a he was a top gun pilot he was not a he was not a Navy SEAL he was a I forget what they call those guys that land those planes air jockeys or whatever they joke about but that's what he does he was in the fighter planes he wasn't a Navy SEAL very good Larry I just had to call in and give you kudos on your patterns and just share an observation specifically on the wheat that you were just talking about in the Tigers Den on discord I just posted the daily charts of the December Kansas City wheat contract you recall yesterday Thursday morning I emailed to you and some other people the weekly charts of all three classes of US wheat the Chicago wheat, the Kansas City wheat and the Minneapolis wheat contract and how all were making new bear market lows and two of the three were either testing exactly or approaching the long term 5-6-1-8 levels anyway that was Thursday morning I will people in the den know I bought the Dease wheat Dease Kansas City wheat last night but I have to bring to your attention a key Pezzavento pattern and that is a literally textbook butterfly to bottom pattern on the daily chart on that December Kansas City daily wheat chart Larry I've seen these butterflies to bottoms and some of these ag contracts over the years and they are just amazing I believe this market right here right now is just another textbook example thereof so kudos to you on those patterns I just love them yeah that's really good well I appreciate all the work that you do here in the Den John because you really show the folks what you're looking at and you pull no punches and when you're wrong you tell them why but boy you've got a tremendous record of nailing some of these things but you know what amazes me John at $14 a bushel nobody would even think about selling it short now it's $7 and nobody wants it I mean what's the big deal I mean then you wonder why I'm a technician hello operator give me a break yeah hello indeed I confess Larry um yep there's the uh hey thanks for calling in my friend and may God bless have a wonderful summer John we'll be right back boys and girls Vista Gold owns and operates the largest undeveloped gold project in Australia the Mount Todd Gold project Vista Gold just completed their feasibility study resulting in a 7 million ounce gold reserve Vista Gold has all major permits approved and has retained CIBC capital market assistance in evaluating alternatives and in completing and accreted transaction Vista Gold trades on the NYSE American and TSX under the ticker symbol VGC Vista Gold executing a strategy to create shareholder value 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 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and become a part of this educational community of traders just visit the front page of TFNN.com 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 folks we're back and I wanted to talk to you about corn here a little bit the chart that I posted was the one from Sunday when I send the newsletter out for the week you noticed that was a 3-8-2 in the corn and we broke 40 cents $6 for just a moment now we're back to $6.20 but it's held up relatively well so anyway that's why I wanted to point that out to you that these numbers they don't work all the time but they work some of the time and that's a key to doing what we're doing here and that's basically excuse me for what we're paying attention to now I want to talk just a little bit more about the bond market folks there's a big breakdown from that 3-8-2 retracement on the weekly there at 146 we've dropped eight handles down to hit 138 and change today the Federal Reserve is trapped folks they really have very little they can do to reduce to keep interest rates where they want them because with inflation as bad it is they've got to raise rates to stop the inflation now inflation is probably lagging by a little bit but over there we have to pay close attention to that is why we're doing it now remember you don't want to miss Monday's show because we have none other than Mr. Norm Winsky of Astral Trends on Monday and Tuesday we hope we'll have Jim Bartolioni Wednesday we're going to have Jeff Huge Thursday we're going to have Stan Harley and Friday we have a mystery guest yet to be named but is in the process of getting remember folks live every day in an attitude of gratitude bless and do something for your neighbors and be sure that you don't lose anything in the Dow Jones E-mini put your stop at break even which would be at 338 10 and you've got 300 and some bucks in it now if you wanted to take it but frankly I would shoot for something a little better and not lose anything that's the key see you all on Monday folks and may God bless