 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. I have one mouth of Chapman here on this Friday, the 5th of May. So this is going to be really interesting. I said to subscribers this morning, I actually started looking at this yesterday and then last night. And if I look at the KRE, which is the regional banking ETF, you know how I looked at Schwab? Let me just show you Schwab right now. You remember that volume climax moment that I said in the Chapman methodology? I have a technique that I've been following for quite some time, where there's just a massive couple of gaps down of a stock or whatever it is. And there's this throwing in the towel. You can just feel it. Everyone's giving up and it plummets to another low. If that volume expands dramatically, I would like if, like Dave White was here, I'd ask him if he could do some kind of percentage run on this type of thing. I don't have a percentage, just the official thing. It is so obvious. It's like Mount Everest to your little hill. It is a huge volume expansion. My rule of thumb is there could be a rally if there is a decent close above the gap down bar high. And it holds even just for two or three days. You can go 28 sessions without touching that low. In this case, it was around number 45 low on the 13th of March. Well, look at KRE. What was missing? And I said to subscribers to my opening call. Well, I would have missed it this morning. I didn't expect this kind of gap up. I would like to see a third candle. It didn't have to be, it's not like a rule of thumb that you've got to get three gaps down or at least two gaps with a third, a very ugly candle. Everything was here except for that one candle. That's number one. And number two, the MACD was a little too strong. So in this case, we made a low yesterday of 34.52 in the KRE daily chart. And there's been a gap up. There's been an island reversal. Now, the big question is, and I spent quite some time working on this because, you know, I do my very best to try to get the highs and lows at the exact turning point. Was this an opportunity yesterday at the close or even earlier this morning when the market was kind of up but really still a little bit hesitant to go back to the long side of the Dow and the UDOW. Not that we don't have it still from the October low, but to get back into a trading position. Well, there are a number of things that said to me, we're going step by step one by one into the various indices. And because of that, let me just go, now I'm going to do the update with everything else because we missed the KRE. It's a really important low that was made. I'll discuss a little later in the show because I want to see how it's lost over the next 30 minutes or so in this big gap up move. But yeah, let me show you something. I like to use some indexes and tools or whatever it is that I can for kind of a market overview. So remember the, I spoke about this nine period moving average. So I'll just go here quickly and I'll do this as we're doing the numbers. So that's the, I want this one. No, I just did the wrong thing. There it is. I'm pretty, yes there. So you can see the Dow daily chart. I said it takes a long time for this M shaped pattern in the nine period moving average over the 14 to unfold. Well, we went to a cell because the pink, the nine period moving average move from green to pink. Very simple. Now it's very unusual to flip to a positive within two days when you've got such big moves. You can do it when there's a very narrow nine period moving average. You can flip pink, green, pink, green, negative positive, negative positive as it goes choppy sideways. This is not choppy sideways. It can turn into a choppy sideways move over a period of a week or two, but not on a very short term basis. So this particular reflex action to the upside, very sharp V shape formation. We've seen that before. Look, this is where before the, the Dow in February crossed negative in the nine period moving average. You got a big spike back up again, not as big as this, but then the decline wasn't as big. So all I'm saying, this is a process. And now let me show you something else in the spy. And we show this by right there, the very day after the pre-market, after the top was made, I didn't know it was a top. And it pulled down sharply. It turned to pink. And yet today, so far, it's gone back to L. So that means the nine period moving average flipped negative for a day. And now it's turned positive in today. The day is young. Anything can happen. But that's what happens when you get these reversals from a very, very strong move to the upside. And the nine period moving average is holding very well. It can take a while. Now let me show you something else. Look at the QQQ. The gray line is just a closing price of the, of the, of the whatever symbol we're looking at. Look at this. It didn't, it just for one day it went pink and then it flipped to positive on the 27th of April. And it's been positive ever since. And I love this green line. It is such an important thing. It keeps you, if you're in a trade, it can keep you in a trade much longer than you would ever anticipate. Okay. With that said, now let me show you something else. I think we might have a call. Yeah. Look at gold. A spike higher when pink, pink, pink as a spike higher and then it went green. And we'll see whether or not it's going to turn down. Let me just have a quick look here. We've got a question. We've got Earl in Seminole. Hi, Earl. How are you? I'm doing very well, Basil. Good. I called you on GLD last week. Correct. And boy, it paid off big today. Excellent. I bit the bullet and I was shorted and I still am. And you said, you know, you gave me a target to watch and it got right down within 50 cents of that target and it didn't hit it. And you know, to me that would have been the signal to get out, but I stayed in. So let me just discuss this because this is really important. One of the technical techniques that I use is to do a vertical match, a vertical, I call it a match, but really it's a vertical assessment of a height that's made or a low that's made. And then within a cup formation or an arch formation, what happens when it breaks that? How are the technicals? But if you look at the GLD, the height that was made right here on the, was it the 13th or so? Let me just check the date. Yeah, the 13th of April at 19.41, it gapped up and then it had an island reversal. And what happened was the MACD had already started to weaken a little bit and was still positive just for that moment. The stochastic was much lower on balance volume added a little bit of a high and then fall back. Now we're looking at something different. Earl, can you hold on a second? I want you to go to the right side of the tunnel. Great. Okay, we'll be back with Earl. If you're looking for potential trading setups in the stock market, then Rocket Equities and Options Report is a newsletter you should try. Tommy O'Brien delivers options and equity trades when the markets present them using a combination of fundamentals and technicals. You might think that if you want to be successful at trading in the stock market, you're going to need a crystal ball. After all, it's impossible to predict the future, right? Like any endeavor in life, before you decide it's impossible, get some advice from the experts. You might find that it's not so impossible after all. For daily market overviews that give you direction on the key indices, selective stocks and commodities, subscribe to the opening call newsletter at TFNN.com. 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We've caught Earl and we're looking at the GLD. So looking at the GLD, I've got this pretty much, I wouldn't call it a NAKA chart, but it's a chart that doesn't have much halfway of notation. But I think you can see it a little bit better. In fact, I'm going to expand it. So Earl, this is what I'm looking at. The doji candle at the recovery high that was made on the 13th, a little doji candle, and I'm going to circle it because it became an island reversal. Island reversal just means that the price was at a certain level and gapped up or gapped down. And then at any point, I've seen them last six weeks, actually, gapped island reversals. But what happens is it goes suddenly back, it gaps back down into the body of land. It looks like a little island just outside the body of land. And this is exactly what happened except in this case, the nine-period moving average was very strong. And then for just one or two days, it flipped negative right here on the big down move. It was a big down move in relation to the other candles. On the 1st of May, it made a low of 183.91 and then flipped big time to the upside the next day. So the nine-period moving average went back to green, and even now with this gap down, it is green. So when you see gaps in anything that, whether it's a stock or a commodity that trades overseas before we trade, you'll always see gaps. So when I see a gap in gold or a gold stock, it doesn't bother me at all in terms of saying, uh-oh, that's something, that's an area that it's going to go to if there's a reversal towards that area. In this case, I'm skipping the gaps. But what I am saying is that the MACD wasn't anywhere close to as strong on this move up, number one. On balance one, that's the blue line right here, spiked higher, and it got overbought. That's the only index that I use or tool that I use that gives you an overbought or an oversold reading. I don't use that on the stochastic, I don't use that on the MACD, I just use it on balance volume. So that just says, yeah, it's pulling back from that level, but the stochastic on this rally only went to 69%. So that just says to me, if I had to draw what I normally would do is I'd grab the outer level of what I think is a possible rectangle, and I'd just say, this is the area I'm looking at right now. And if in fact, I don't know if you can see this, if you're looking at the chart, basically it says that there's resistance now at 180, let's call it 188.50, let's call it 189. 189 is resistance, but in the next week, and you know, we've seen huge moves on Fridays, other days, but it's amazing how many times over the last year we've seen gold itself have a huge move up or down, usually it's down on a Friday. So that could be any reason for that. So I'm going to exclude a reason for the gap, it's just a huge gap down. Yesterday the GLD is trading up at 191.36 this morning, it's trading at 186.21, that is a big move. But that's just the start of the move, the 9p moving average, and now I'm going to go to my chart that shows the moving averages, that's gold. Yeah, look at the gold contract with the 9p moving average, it's still very strong. In this particular instance, because it's got an M shaped pattern, if gold at any point in the next week, it doesn't have to close, I would say preferably close if you're going to be looking at the short side, but if gold in the continuous contract in 1985.7 was the low on the 1st of May, if it closes under that, if it goes under that, that's one thing, but if it actually closes under that, all of a sudden you kick in with the support levels of 1984, 1981, and then 1961. And I'm just looking at this and I'm thinking, if I look at the gold charts, some of those gold charts never after the move that they had going to the upside recently, the pullback, and let me just go to, maybe this is not the best one, I'll just grab Newmont Mining. Newmont Mining, you see it went to the 200p moving average and then it failed, actually let me do this with, if I've got all the notations, let me go to my notations chart right here. So yeah, we go to Newmont Mining, there it is, made a peak D, I put in the fib numbers, it went to a 50% retracement bounce right to the 200p moving average and gap down today. What was the one that I was looking at yesterday? Oh, I keep forgetting. Shoot. Oh, PAAS, which is a silver chart, fabulous action all the way to the 19 area, peak G, doji, candle, reverses, and this rally, it hasn't participated the way gold has or the way the GLD has. So if you look at this, it's saying, and that's the only reason why I was kind of skeptical and I said to subscribers, I know gold is in play and we haven't got this, we haven't got a position on it, but I'm not rushing in because something is not quite right. So if you look at the GDX and that's probably to go with the GLD, the GDX is probably for me the best benchmark that you can look at because that's the gold minus. You really need the gold minus to be leading, I like them to be leading gold on moves up. Well, they were before, but now they're not and you've got this double top and if you look once again, look at the vertical line that if I draw this in here. So all I can say is it's really risky when you're playing with something like gold as a short because anything can happen, especially with the financials. And that's the reason why I spent some time looking at the KRE and I had a question. I'll go into that just now with another bank stock. I'll get there, but in the meantime, I'm just thinking that the bank stocks, just for the shorter term, I think are trying to form a bounce, their bounce material. Let's put it that way. I don't know if this is the low. Wow, when I think about it, it should be a low because otherwise we're in real trouble if the regionals are failing like this. So this is, says to me, it's important. And I've been talking about and I remember I spoke to you about this. I said, my thinking here is that gold is an insurance policy for the economic conditions, which includes the banks and until the banks can stabilize. I think there's going to be this pressure to be buying gold. And I think that this could be alleviated. I don't think it's over, but I think it could be alleviated. So let's go back to the GLD and the GLD right now a little doji candle or 186. I would not get too excited about the downside because if there's a bounce, and it goes in this bounce of the GLD goes above, it's at 186.49. If it goes above about 186.75 and holds there for three sessions, then I'm going to say you probably got limited downside for the moment. But if, in fact, there's any bounce and doesn't matter because within a day is sourced to trade at 185. Now 184.70 or lower, I think then you're going to be having a look at a quick test of the low of the 21st of April, which is at 183. That's kind of the way I'm looking at it right now. But I have to also tell you, my eye says in the weekly chart that the GLD is probably just in a rather, it's a narrow right now, but I think it's going to be a broader rectangle formation that in some ways is kind of in play for this particular period of May. That's just the way I'm looking at it right now. So it's worked so far for you, but you need a little more evidence to say that the Magdy's deflecting lower and will only do that if you can start to see the GLD trading in the 184.183 area. I hope that helps you. Oh, it does help me. If you have a second, I'll tell you why, you know, my thought of what I did when it hit that double. We're going to be coming up. We'll hold up. We'll hold you through. I want to hear about it. As soon as we return, Baselchap and Tiger Dances out does a quick test. 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. 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From the moment the market opens until the closing bell sounds, Tiger TV has eight different shows with expert hosts to help you make the right moves with your money. Watch online at TFNN.com or on TFNN's YouTube channel and become the investor you were born to be, TFNN Educating Investors. I just typed it into the den. Moz, which is the Mosaic company, it's got a one-to-one traffic wave to the downside. Now the 38 to 37 area is absolutely imperative to hold. And another question came in earlier about KBR. And KBR, I will look at because it's almost an all-time high, so we'll look at it. Now let's go back. Okay, well, tell me your story on what you're thinking in terms of gold. My thinking is the big banks and government itself has been accumulating gold. They know gold is real money. And I think the way you trade gold is you take a look at what they want. And what they want is to, they want exactly what happened today. And if you look back in history, they like to run gold up and then trap a lot of people so they sell it off so they can accumulate it. If you take a look at how the big banks, you take a look at the big banks and governments around the world have been accumulating gold at a record pace. Yes. I mean, that's what I've been talking about. The only way you can do that is to shake it out of the hands of the retail people. You're absolutely correct. But I just wanted to say, my thesis has been part of it is that governments and huge enterprises, perhaps like banks of big mutual funds, they've been buying the gold as an insurance because they saw the economics, the bank, the financial risks that were there. That was a big part of it. So in a sense, that's what you're talking about. But I don't really have evidence. This is just my background thinking. Sometimes it turns out to be correct. Maybe sometimes not. But I don't know how you actually get the proof of that other than to be looking to see. And I don't even think you'd see it in contracts because these things are done in different ways if it's a government. But the volume, to me, I haven't really seen it in the volume just recently going to that high that was made early April. That's the volume expanding. So in a sense, I can't do that. I can only just say that my gut feeling is that the kind of move we've seen in gold represents a kind of insurance policy as well as a trade. I mean, gold is acted well. So money comes into it. So in a sense, it's kind of confirming what you're saying. But I have to also say to you, I don't know where we can actually get the proof of it. That's all. It's really hard. We don't even have the numbers. We can't really tell. We can just see the price. So that's what I'm saying. Exactly right. My question to you today is, what's the trading range I should watch for it to either bust up or down? Another one, if it goes below 184.70, I should look for lower or goes above 185. On the GLD, I just said that the 180, let me try to be a little bit more specific. So this huge gap today, if I gave it a 50% and usually gaps like this, don't get full 50%. If they're going to get full, they get full very quickly and quite sharply in gold. I'm just saying to you, if it starts to trade above 187.80, I would watch it intraday because if it goes there and it starts to pull back and it pulls back quite sharply, I think that's great. If it's there and it holds and the very next session has a higher bar, I just say be a little careful. I don't know if it's going to break the high that was made yesterday in this particular move. Right now it looks to me like it has a little permanency and the very short term that the spike to the high. But at the same time, you want confirmation by having two days closes. I would say under 185.20, let's make it under 185. If for two days it closes, I don't care about intraday, but if it closes under 185, I think you're correct. And then I'll be looking at 183. At this particular point, it's either going to be really sharp or it's going to just slice through 183. My thinking is that it's going to try to use that whole 184 to 183 area as a kind of a bounce off point. But if it can't do that, then you're in the right track looking at the downside. I think it's at this particular point, going back to the KRE. Yeah, it's a good candle. It's kind of full the gap from yesterday. But these things need time to repair the tremendous damage. So I suspect and if you look at JP Morgan, just as one of the prime money center banks, right on the 200 period exponential moving average here, I think that can act as a magnet. So basically what I'm saying to you is you need to see proof of the pudding by having the GLD and gold in particular going down pretty sharply for a second session. It can't just have a meandering sideways move on Monday. You need to see it under 2000. And if the XLF, the financials, I put them together, which has had a very nice island reversal gap to the upside trading at 3220. If that is able by Wednesday of next week, if the XLF is trading at the 30, if it's over 3255, I think that gold will probably go down a little bit more. I think that's the way I'd put it together. I hope that helps you. Yes, it does. And I thank you. Yeah, pleasure. Good luck. We'll be watching it closely. Thanks for the call. You're the best. Well, thank you very much. I appreciate that. So folks, it does have 441. So let's just go to that question I had because I want to look at what's been working. What has been absolutely fabulous and ignore this high. Let me just do this before I get there. So just to show you the Mosaic Company. This is what I spent the time in my webinar on Wednesday night. And I even did it yesterday saying that a move like this where you've got the dreaded H and then you take out that left side low and within three bars. I give it a little room usually I say two, but maybe three. It can't close above 30. So 41 16. And right now it's at 38 57. And this is the second day so far under that low. You can get a one to one to the downside and that makes the whole area of 37 to 36. Did I put 37 to 36 before? I can't remember. Nike Nike. And 38 to 37. I'm going to lower that. I'm going to say 37 to 36 is absolutely imperative. Because this is exactly based on the technicals that we're looking at where the mosaic potash phosphase fertilizers. This is where it should start to find some kind of support to at least attempt to get to get back into the 41. So this is really important. I'll do Nike Nike went to a P.D. It's pulled back some from the 128th area to the 123. Look at the weekly chart. Nice. This is not an official cup and ladle a cup and handle because the I've just chosen to make this high here. The high of the left side of the arch. In fact, I even went there. So that is right in the 138th area. So that's an unofficial one because I've just chosen to make the cup and then make the handle. But at this point you see how long it's taken to try to break to the upside above the week of the third of February. 131 31 it hasn't done it yet. And it's just kind of gone sideways within the confirmation which really turns into a rectangle. So I just said I put it 139 to 131 is kind of the upside range and 122 to 120 is really the downside. And I think it might be stuck there for a little while. 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. 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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. 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 three times bull and bear ETFs. Visit Direction Investments.com slash Biotech today. An investor should consider the investment objectives, risks, charges and expenses of the direction chairs carefully before investing. 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, Foreside Fund Services, LLC. This program is brought to you by Vista Gold. Traded on the NYSE American and TSX under the symbol VGZ. We're going to look at KBR. KBR is an engineering and construction company. This is what I was talking about for a little while. I was saying, if you were a Fed governor, you're going to make some kind of statement about what you are seeing in the markets. You've got an engineering construction company within points of an all-time high. You've got BLDR, and don't tell me, once again, I forgot to put it exactly. Let me just do this right now. Here we go. Let me just put it in. This is called BLDR DOC does what? Builders first source, and exactly what do they do? I had it all typed in, but I lost that information, so I'm going to put it in again. And what do they do? They do... Is that cool enough? It's the best way to easily top raise a coin. Okay. Supply and manufacture engages in the supply and manufacture of building materials. So building materials and components, manufacturers, components, MFT, components, component, component. How am I going to abbreviate that? Comp S, not computers, components. Well, I remember that. Services, professional, homebills, and subcontractors. So, you know, at an all-time high, as we speak, well, it's within a couple of dollars. At 108.41 yesterday, it hit a new all-time high up in the... And this is either a leg F or an F slash B. And here it is right there on the 4th of May. And I'm a Fed governor, and I'm saying, whoa! Wait a minute. Didn't we want to see deflation? Didn't want to see 2%. You've got the homebuilders itself. Look at this, the homebuilders, Philadelphia's housing sector. Also, this is the sector itself. Let me draw this in. Look at this. Oh, inside, Chapman Wave, inside track, repellent zone, right there. The all-time high is 538. And here is a 477. You know, what are you supposed to do? We've pushed interest rates higher, but they're not high enough. Look at this. Here's the interest rates. You're in this rectangle. What have I been saying? I'm looking to see if on the... I drew this in quite some time ago when Mike... I think Mike from Boston wasn't called. And I said, I'm just going to put in this rectangle here. And I wouldn't be surprised if... At the end of May, that's the week of the 26th, we can even go to the end of May, the 31st. If there's such a thing as the 31st of May, there is. That is Wednesday, the 31st. And we'll see whether or not it was at 106. I said, would it be at 106? Because it's in a rectangle formation. It can last a lot longer than your patients. So all I can say is the Fed... How do I put this? So you've got the jobs numbers this morning, and they were... They're still up there, you know, in terms of the low rate of unemployment. And I'm just thinking to myself, is there any way that all of this can be resolved by all the incidents? And that's the reason why... I'm coming back to KBR. That's the reason why for the Dow getting in at the October low, I wanted to get out positions, and I wanted to hold them and trade around them. Because I don't see us going back to the 18,200... Oh, no, it's to the 28,660 low. We are still along from the March low of 2020. The 28,660 low. I just don't see it. So is there a way to resolve this? And I'll talk about that in a moment, but I believe we've got a caller. We've got Bill in Springfield. Bill, how are you? Oh, just fine. Beautiful sunshine today, no, Zark. Oh, good. What happened to SNH today? I think what they wanted to do was just to create a whole bunch of extra work for me, because I don't have automated chapter wave notation like you see that Steve Rose has. Mine I have to do all by hand. Every single one of the thousands and thousands of charts you see, I've notated every single notation. So they must have said, Basil doesn't do enough work. Ten hours a day is not enough. Let's just add to it whatever it is. So they split it. You can see it's exactly half of what it was. That's the way I was shocked when I saw this one. I kept looking, am I wrong? And then I looked and I saw my notations were up 100 points higher. So I'm going to have to do all of these things over again. And all it's exact same chart, they just split it. It makes it tough if you have options, or if you're in the SOXS or SOXL, because it gets modified, but it gets modified for you automatically. But it means if you had options, three options, you now have six. So it's a little complicated, but nothing's changed. Does that answer your question? No, what was the split ratio? It must be two for one, because the string at 123 and yesterday it was in the 240s. Okay. Yeah, so nothing. Are you trading this at all? It's just something that you noticed. It's something I noticed, and you've told us and taught us over the years that it is the direction of the market. Yeah, I believe so. And you can see it's had a very nice running, but it's been stalling. Oh, I wish I had all my notations. I have to do the darn thing again. You can see if I open it up like, but you do see it on the monthly chart. Got all my notations, and this rally here is saying to me that a critical part of the whole economy for me has been the SMHs, the semiconductors. They did go to the highs back in November, December, January of 2021 to 2022, and then the market, it pulled back sharply with the market, had a really good rally of about 50%. The market hasn't rallyed. It quite depends on the index you have, but I'm watching this closely, but if you put it together with the XLF, for me, I've got to have the financials as a really strong part of the economy. So this is saying to me, wow, I can fluctuate between saying the Dow makes a new all-time high in the next couple of months to saying, uh-oh, watch out. I don't think we'll take out the October low, but if I look at these indexes, but when I put it together with the whole market construct, I still constantly feel very bullish because I think that everyone, and this includes the SMHs, every one of these criteria that I look at, and every time we get what I've been saying is, is it possible to have made an internal low in October and every one of the residual lows is from a higher level above that so that every time we get a really horrible piece of news, economic news, what happens is we come back down sharply, but we're coming back down from a higher level. So in other words, look, as the Dow made a new recovery high, 34,257, all of a sudden things agreed ugly and three bars later goes to the 200-period moving average, now it's bouncing again. If you look at the weekly chart, look at that rectangle, it's kind of stuck in the rectangle. So that just says to me, it's an extremely resilient market, but the things that we've seen we haven't looked at maybe forever in some cases, but definitely for years and years and years. So the answer to your question is, the SMH is absolutely, I think it's important, the XLF is important, but look what happened, the Qs were coming down, suddenly Apple helped, suddenly Microsoft helped, and that rips the market in a rotational aspect. Am I answering your question a little bit? Okay, yeah, a little bit. I'd like you to say you can bank and make money. Nobody can make money. Yeah, it's hard. Okay, I'll just give you a second. Thank you. In the Tiger's Den, you can look over the shoulders of Tom O'Brien and the other TFNN hosts while they analyze charts during their live Tiger TV programs and join an interactive trading community with hundreds of members exchanging ideas, interact with other Tigers and Tigris as they share trading ideas, news analysis, and discuss the market action all trading day, even at night and on the weekends. The Tiger's Den at Discord is accessible on mobile or tablets as well, so it's always at your reach. To sign up today and become a part of this educational community of traders, just visit the front page of TFNN.com. Selective stocks and commodities. Subscribe to the Opening Call newsletter at TFNN.com. The Opening Call newsletter is written by Basil Chapman, creator of the trading methodology known as the Chapman Wave. The Chapman Wave up-down sequence gives you an edge in identifying price turns, finding the peaks and valleys in stock prices. Get the Opening Call newsletter by Basil Chapman in your inbox every day. Next-time subscribers also get a 30-day money-back guarantee. If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up. TFNN.com Educating Investors Everything in the universe is governed by the Fibonacci sequence. This mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market. To stay on top of stock patterns you can take advantage of, or the Fibonacci 24-7 newsletter at TFNN.com. When you subscribe, you'll get a weekly report from Veteran Day Trader Larry Pezzavento on stocks you need to pay attention to, and you can trust Larry's analysis. After all, he's got 45 years' experience as a day trader. Larry will also provide daily charts, videos, and data on the key markets that he's tracking. Expect notifications from Larry on market movement you need to act on at any time. First-time subscribers also get a 30-day money-back guarantee. If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up. Subscribe to the Fibonacci 24-7 newsletter today. TFNN.com Educating Investors KBR is trading at 58.75. So this is what I'm going to say. The person that asked me the question has a longer-term outlook. Stocks that make your all-time highs tend to stay on that list for a long time until there's just a really big disappointment. So I'm going to say, in your case, start your position at 58.72. Because it's a started position, it could be in a rectangle. It has 55 support. I would give it 54 as 55. Well, if it gets to 55, give me a yell. But I'd make that 54 level a really important support. It's only three points, but it's like a started position. Why? It could take a little while, go sideways for a little bit, and then pop to another new high. That's what these things tend to do. And if it's going to fail, it's going to fail by this coming Wednesday or so by sliding under 56 very quickly. And there's an island reversal right there. We were talking about that. So I hope that helps. Now, this is what I'm looking at. So the reason why I didn't flip from the SBXS, the short side, to the long side this morning is that gapping up like this isn't really quite, it isn't quite what I usually look at for a buy in the UDOW. I usually like it to be pulling back and then to get it on the way down. I've missed a reversal here. That's okay. But in the context of markets, I think this is a process. And I'm looking at the QQQ. And the whole thing is that by next week, maybe Wednesday or so, if the Qs are under 314, that says, okay, now the nine-period moving average will come down and you're going to get your consolidation. As long as it holds here, it says you can keep popping up but you've got a lot of resistance in the 321. If you're going to make a three- or four-fold reversal right in the 321s, like we've seen many of the indices do, that's a big question. Have a wonderful weekend. Stay tuned for Steve Rose and check out my webinar that I did on Wednesday for subscribers. You can become a subscriber, check front page of TFNF and I'll do my weekend overview tomorrow.