 Traders, sign up today and become a part of this educational community of traders. Just visit the front page of TFNN.com. The following is a presentation of TFNN. Trade what you see with Larry Pezzavento call 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. Well, I'm going to try to describe what happens to these large banks and their trading rooms that they have. These are not rooms, folks. These are acres of rooms. I mean, I think the one for Citibank that I've been to has well over three. Well, used to have well over 350 traders, Hong Kong, Goldman Sachs at 150. That was just a small office. The other one I was in was Smith Barney many, many years ago. And let me explain to you how it works. 1985. I had, I was actually 86. I met a gentleman from Grand Rapids, Michigan, Gary Tilkin. Gary was married to the daughter of the heir of Amway. She was here. Her father started Amway. And Gary had an idea because he had worked at a trading house in Switzerland for it was called Bank Loy, LOI. Very nice place. He did very well. And I, he was fortunate enough that he selected me while I was the fortunate one to teach. He may be equal CD and he liked it quite a bit. And he said, look, I want to start my own trading house. And I said, well, it's going to cost a lot of money. He said, well, you know, I'm married to the, Janet was the daughter. And he said, he'll, he'll back, back me to whatever I need. And I said, well, you're probably going to, and this was, remember, this was 40 years ago. I said, you're probably going to need about $300 million. And he said, that's no problem. And of course, it's collateralized and everything. And so here's what he did. He decided because he happened to be a big fan of Mark Douglas and we'd actually hung out with him a little bit. And we've been to London with him several times. And so he drew up a plan of how these banks work. And this is how it works. Folks, stop, stop and think of a great business. Let's say you have 500 traders in a trading room and you're the bank. Let's say you're the, the, the Swiss bank of the Indian Ocean. I'm looking at my big world map up here. And I just thought of Switzerland. So we'll call it the Swiss bank of the Indian Ocean and you have 500 bank traders in that room. Okay. And all these traders rely on the telephone to take orders from customers from all over the world. Because they're a big bank, they have billions of billions of dollars. These traders need margin to put their trades on. So they go to the bank for the margin. So they put their decks into that bank. So once the decks are in the bank, the bank knows, A, how much money they have. B, how well they do as trading. Right. Right. How often they trade. Okay. How often is their biggest loss? How is their smallest biggest profit? They know all of that information folks. You wonder why they make money all the time? First of all, they will take action from anyone because they know that 80% of the people that are out there trading are going to lose. I know that's a silly fact, but it is people that learn to do this, they'll get better and they won't lose. So when a trader gets to be very, very good at let's say the South Bank of the Indian Ocean, they will not restrict him or stop trading. What they do is when that trade comes in, they'll lay it off to the Goldman Sachs operation. They'll just say, we take whatever it happens to be and that's pretty much how it works. They know exactly who's winning, exactly who's losing, the one people that you don't want to fade the other side of it because every forex trade that goes in with the exception of the Chicago Mercantile Exchange, which is an auction exchange. In other words, a little regular exchange where you go bid and ask, whereas with the foreign exchange market, the bid and ask is there, but the bank is taking that action 99% of the time. They just take the other side of it because there's going to be somebody else at that bank is taking the other side of that. So they're making commission on both sides. You remember trading places up in the office there where Mortimer and Randolph were there and Billy Ray was there and they were explaining to him. He says, look, if the good part is, he says, if our customers make money, that's good. And if our customers lose money, that's good. And he says, do you know why Billy Ray? He says, well, he says, you're a bookmaker. You make both sides of the bet and it's exactly what banks do. They're taking both sides of the bet and they will not take the sides of the bet and the big customers that are making huge trades and lots of money. In 1972, when we were trading at Conti Commodity, there was a man there. I'm not going to mention his name because he's very, very famous, but he was one of the big boys. You know, Mike Marcus was there. Rick Barnes was there. Ed Secota was there and this guy was, he's still one of the greatest. And he understood how that worked. And so he was able to start a foreign exchange operation, trading just one thing, the Deutschmark, because he believed the Deutschmark was undervalued and that's exactly what happened. People that bought Mercedes thought the Mercedes was really great value because it would go up all the time. It was only because the Deutschmark, the German mark, was going up all the time. Okay. So anyway, that's the reason why is they have all those factors in their favor and that's why they do it. When you see a bank that has a trading operation that loses money, they faded the wrong person or they had an idea. Do you remember the guy, Nick, what was the guy's name? Nick, the guy that blew the Barron's Bank up. He took the other side of that trade and nobody had it because he had done so well. Nobody bothered to even check what his deck was. And then the earthquake hit and that was it. It was toast and he took down a bank that had been in the UK for what, 250 years or something like that. So it's all about risk control, moving money, booking all the trades from all the people with the exception of those 5 or 10% that are doing extremely well and then you just give those off to somebody else. And that's the same thing with bookmakers do in Las Vegas. If they take a million dollar bet on a hockey game and they're very uncomfortable with it, they'll lay most of that bet or all of it off to other bookies because they want to spread it out, okay? That's what it's really all about. I hope that helps. That's exactly how those banks work. And if anybody trials to tell you any different, say, thank you very much and move on and go over and buy an ice cream cone or something because they're not telling you the truth. Because if you think they've got 500 good traders in that room, I think again, that's basically the bottom line. So I do hope that helps. I happen to know people, well, not many, but a couple of people that are on that group that people do not fade them because they're very good. They still get their orders filled. But it's because when they put the order in, they lay it off on somebody else. That's pretty good. That's why trading foreign exchange at the Merc, okay, you're in there with somebody else. There's no bank against that. It's a valid contract. But with the bank, they take both sides of the contract. That's why they don't have to play. And not only that, but a person pays a one-pip commission or two-pip commission going in, two-pip commission going out. I mean, how can you lose on that? Impossible. So that's why they do so well. But then when they do bad, it's because somebody screwed up. They don't do it happen very often, but they do. And sometimes, you know, business dries up because people move on and things like that and they've got to keep their customers happy. But that's really the bottom line of how it works. I've watched it over the years, and I don't know. I feel real strongly about that. Mark Douglas and I have been in many of the, well, at least four or five of those banks. I've been three in Switzerland with Mark and two in the United States. They're all the same. 877-927-6648. Believe it or not. Mike Moore Analytics at the break. Currencies, commodities, and bond markets are as important as ever right now with how they're driving the volatility in equity markets across the globe, which is why it's a great time to try out Teddy Kegstad's Tiger Forex report. Teddy Kegstad breaks down the Forex markets every Monday using his 30-plus years of experience as a trading veteran of futures, Forex, stocks, and options. Teddy releases his weekly Tiger Forex report every Monday morning with coverage of all the major currency pairs, including the Dollar Index, the Euro Dollar, Pound Dollar, Dollar Swiss, Dollar Yen, as well as many more. And he also has weekly coverage of the crude oil market and the 30-year T-bonds as they both influence Forex markets tremendously. When you sign up for the Tiger Forex report, you also gain instant access to Teddy's 60-minute webinar archive he just hosted, Forex strategies, and fundamentals. What is behind the Tiger Forex report? For all the details and to start your 30-day Tiger Forex report subscription today, visit the front page of TFNN.com. TFNN, educating investors. Steve Rhodes started his trading career as a student almost 20 years ago, and the student has now become the master. Steve won the prestigious Timer of the Year award in 2018 and barely missed that mark again in 2019, finishing it 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 market's 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 Free at 1-877-927-6648 Internationally at 727-873-7618 Okay, folks, I posted the chart of the E-mini S&P up here again for the 75th time in the last 75 days. And you'll notice here that we have hit that 61% retracement quite a few times up there at 4200. We're trading around 41.5, I believe, something like that today. We're 27 days up, 27 days up. The question is, why hasn't the market broken to the downside? The answer is very simple. The top is not crested yet. It could crest at this high. It could crest at a higher high and it might not crest at all. It might just keep on going to the upside. We're going to know that Sunday and Monday for sure because all of this stuff should be in play right now. If we close below 41.30 today in the S&P, that's a sign that, yes, we probably have made some type of a pretty significant high in here. Now, we've talked about the put-call ratio. We've talked about the VIX index. All of that stuff lines up. And I've said here for the 15th time, we'll make this the 16th time, this thing scares me to death. And the reason why is I can't see any reason why it's up here. I can see where it is right now, but if it breaks out to the upside, the only reason I can see is this little cowboy has missed something really big and it could go a long way up. I've seen this happen before and I don't want to stand in front of it. So we know when we're wrong here, but if we close really strong above 42.20, we are probably broken out to the upside and we're going to go a long way. If we close poorly, then that's a sign, yes, this could be what we think is a very, very important top. We've looked at this from a lot of different perspectives, fear and greed. We've looked at it with the volatility index. We've looked at it with Feminacci. We've had three astrologers on. Shane's million, Tim Boss, Norm Winsky, all saying the same thing that we're over something really, really big. Now, Shane thinks it's very, very bullish to the upside and then also Norm flips the coin either way. Tim thinks it's got a possibility to have a pretty good move to the downside. So that's what I'm trying to explain to you today, folks, is that we don't know what direction it's going to go. Right now it appears it could go either way without any trouble at all. So we have to remind ourselves there's no mistake in being wrong. The mistake is staying wrong because you do not want to stand in front of this. Because if it does go up and if it does go up, that's it and you can't stand in front of it. So let's just be careful. Make sure you have your stops working in there and make sure you have a game plan because if you don't have a game plan, not a good sign. Okay, let's move on here to a couple things and this could be the culprit. Not a culprit, but this could be the reason why this might fail. One of many reasons, of course, but let's take a quick look here. This happens to be the chart of Apple. Daily chart is a beautiful 135 pattern. The difference is, folks, the ratios has matched this ratio right here, 0.87. But the time is off now by four days. Someone said that Apple was going to be lower today. I didn't even bother to check it. But that's what we're paying attention to because if Apple breaks out to the upside and I'm not saying Apple is the whole market, but more people own Apple stock than just about any other stock. So that in itself is going to be good. So that's really what we're looking at. Just a lot of different things and we're setting at that level. It's no different than if we were setting right at the ABCD level at the bottom right there. See, one of the things I'm going to be talking about over at the Money Show when I'm doing speaking is to talk about these stock traders about AB equals CD. And I just wanted to bring this chart up today. This is someone who was just listening to our show that we did back in March, which was their day trading. Oh, it's February that we did the, I don't remember what day we did it. I think it was February 26th. Anyway, I talked about ABCDs and he had been practicing with ABCDs. This is the E-mini S&P and there's the three drives. There's one, two, three. Now remember, this is a smaller timeframe, folks. This is an hourly. And then you can see the ABCD down and then the one we had this morning. I mean, it was just unbelievable, folks. We went 20 points up, 20 points down, 20 points up, all of them doing ABCDs. And when that happens, there's a lot of volatility. It means the soldiers are out in the field and who's going to run out of bullets first will determine, you know, what direction some of these things are going to be going. It's very, very important. To me, of all the things that Jeff Hughes showed us, this one with the VIX index, because the VIX is really good for volatility, but it also gives an idea of what people are expecting as far as, you know, the standard deviations. And as you can see here, we are at a level here that we haven't been here in several years. You know, and every time we were at that level, you can see we were at a major top. Each time that level came down, each time it was right at a major top. So that's why we want to pay very close attention to some of these things, because when they do happen, you've got to pay close attention to them. But they don't work all the time. That's the thing. Nothing works all the time. If you think it works all the time, do something else because it's something that you just don't want to mess with. I have to show you a chart here because we've talked about this several times here. Just to show you the importance of these Fibonacci numbers. This is not something that everybody trades, except in China. And this is the live hog market, okay? Now, I just want you to see here. You see this big black line here? That's the 1.618 expansion of the six month down move. There's your three drive to a top pattern. Here you are down here. Three drives to a bottom. The number comes in at 8490. Folks, we hit 8490 on Wednesday. We hit 8490 on Thursday and weigh 8490 within 10 points of on Friday, all three times. And each time the market is rallied 300 points, which, you know, $1,200 in hogs. That's telling you that there's a bottom in hogs. So start thinking about a place to get long hogs because this is telling you there's major support down there happens three days in a row. I mean, that's a really a big deal. I hope that helps as we talk about some of these things, you know, because it's really important to remind ourselves that that's what's been going on. Oh, by the way, when we come back the following the first week in May, remember the first Saturday in May, we are going to have the Kentucky Derby. We're going to do our annual pool. All those that you would like to bet with me send your money to tokensrs.com. And I will be happy to make your bets for you. And of course, we've never had a losing month here in the Kentucky Derby because mainly I take that money and I spend it on clothes and expensive cars. Well, I only got $10 in, so that must not be in a very expensive car. But anyway, I will not be betting on the Kentucky Derby this year. After 10 consecutive losing years, I decided that maybe I should stick to either Batman, Majan, or chess. I'm not sure which I've decided to do yet. I'm still going to be playing poker, but the horses. And if you believe that, I still have two shares of the Brooklyn Bridge. Look for number three in the Derby. I love this horse. We're going to have Mike Moore, more analytics on the line, and then we'll finish up with that. And I'll see you guys the first week in May. I'm taking a, of course, you know, I'm going to be in Vegas. Doing a little bit of work over there, visiting friends, and then back to Tucson. So I'm going to be doing a little bit of traveling this summer with my good friend, Tommy Hougard, and hopefully we're going to have a day trading session with Tom Hougard and myself in the near future. He's said he'd like to do it. So boy, I hope we can, because that'll be fun. Five hours with him would be, would be a lot of fun. Anyway, we're going to take a break, folks. 877-927-6648. 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. New 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. Everything in the universe is governed by the Fibonacci sequence. This mathematical principle is responsible for everything, from the most aesthetically pleasing artwork to patterns in the stock market. To stay on top of stock patterns you can take advantage of, sign up for the Fibonacci 24-7 newsletter at TFNN.com. When you subscribe, you'll get a weekly report from Veteran Day Trader Larry 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. Sharpening your skills as an investor is like getting better at playing a musical instrument. You have to practice, sure, but you also need excellent instruction from experts. At TFNN, you'll get advice and guidance from the authority and technical market analysis, and it's not just dry, tedious text either. TFNN airs live financial content streamed live on TFNN.com and TFNN's YouTube channel with Tiger TV, live every market day from 8.30 a.m. to 4.00 p.m. Eastern for free. Each host is an experienced trader and gives their take on the market while taking calls and questions live from around the world. From the moment the market opens until the closing bell sounds, Tiger TV has eight different shows with expert hosts to help you make the right moves with your money. Watch online at TFNN.com or on TFNN's YouTube channel and become the investor you were born to be, TFNN Educating Investors. This segment is brought to you by Think or Swim. For more information, just click the Think or Swim banner on the front page of TFNN.com. Okay, we're back folks and we're talking with Mike Moore and more analytics. Mike, how are you doing today, my friend? Good. How are you doing, Larry? Thank you for having me on. I'm very good. Thank you for everybody else who's out there listening. Listen, thank you for some of the stuff you've been sending us about the oil market because nobody believed it, but they're believers now. Tell us what you're looking at, my friend. What would you like to start off with crude or natural gas or would you like to start off? You go ahead and we've got a half hour, so let's start with natural gas. We've got a lot of folks interested in that. Then we do crude oil, heating oil, and then gasoline and then some other things as we have time, okay? Okay, so jumping into natural for most of you that have been watching this past number of months, I said that when we broke below this major formation here, that it would be projected downward. That was from, can you see my ass? It's coming in perfect. Everything's great. From 499.30, projected standard, 227 minimum, 370 plus maximum. We've seen 3.047 of that lower. All those bearish macro calls are on hold. And then I said the breakback above, 201.50 to 199.21s, we may be in a macro bullish correction. We've seen 370 ticks so far from 201.50. And I just said if this does play out to be a macro bullish correction, it should exceed 990 ticks from the low, which would mean the minimum target would be 293.60. Okay. Let me just drop down a time frame here for you. We also left a fairly significant bullish reversal below here the other day on the 17th of April, which also warns a higher trade for days. We've rolled over and filled in this gap a little bit, which is understandable since we had such a big gap higher. But let me just go down one more. Sorry, I was augmenting my trades in here. That was the big break below these lows when we came back up through them. And that's suggested that the low may be in here before this macro bullish correction. And then we broke above this formation right in here, which as said was trade above 216.40 projects to separate 210 ticks minimum, 250 ticks plus maximum. So we've seen 221 ticks of that so far before rolling over. And now we have another formation up above that comes in that came into 236.50 minus 0.2 of the tick per hour starting at 8am. So obviously it's maybe at 236.30 right now. And that projects us upward 230 ticks minimum 450 ticks plus maximum. So if we take that out and we start seeing some of that, that'll get us a good way towards our minimum target of 29, 293.60, which would be up in here. That's if we see it, we're not necessarily projected there, but a lot of these things are lining up for that to come into play. You got any questions on that before I? No, no, that's great. Let's let's move on. This is this is really good stuff. So please keep us up. So the crude oil before I start with the crude oil, actually, I just want to highlight something in the cracks here. So the the unleaded gasoline is really leading. Actually, let me back up one minute here. I'll get to those in a second. Anyway, we rallied up here. We held exhaustion up above near the highs and we've rolled over a bit. Let me just pull up the analysis. Sorry, lost my chart there for a second. Excuse me. So the trade below 8088 right here, this formation. This is a spread. This is a spread, right, Mark? What's that? This is spread. This is actually crude oil outright. OK, OK, good. Let me just let me just back up a bit because it's been a little bit since I was on last time. So just you. So on 327, we left the bullish reversal below and many of you will remember that. I talked about that right in here. This was the bullish reversal right here on this day. We left that right here. We saw really nice move to the upside and that brought in $12 and 57 cents from the 7081 open. And then the trade above 7487, that brought in another $8.51. That was the break above this line right here. In fact, I think we were on the show, Larry, when we popped above here that day and then we just jumped right up. And then we took out this major formation in here. And I said that we had a projection to the upside of $15, but we only saw $3.65 out of that before holding exhaustion, rolling over. And then once we took this formation out, that was put on hold as well. We've been seeing pressure there. And then this taking up this line right here, negated that $15 projection to the upside. And this warns that this is going to really come off in the days ahead. So we've come off for a couple of days here. We pulled back up to these levels, but I think that this is eventually going to roll over. Now it doesn't have a specific projection to the downside, but I'd expect at least coming down to 74, 72 would be pretty reasonable. And in the, the Brent actually was a, was a warning because it had failed below a formation up in here. I came in around 8645, which I said originally said this, this was should see pressure. And then the ARBAB actually held an exhaustion area on the highs. What's the difference between the Brent and the WTI West Texas? Well, they're just different contracts. The Brent is off of the oil and the Brent C up there. And WTI is based off of the pricing down in the West Texas Intermediate. Is one a premium oil over another? No, they're just, well, there's a premium of one over another because of the, the distance costs and the shipping costs and shipping costs. Okay. All right. Good. But here the Brent or the ARBAB broke below a formation up here, seen a really nice move down and also left a significant or a moderate term bearish reversal above that warned of pressure for days. So we've been seeing some of that. We broke back up into the gap right here. But if we leave this maintain gap higher on the day that I'll leave a minor bullish reversal below that I want a higher trade, but we really got to take out 261.31 to give it more validity. If we can't take that out, it does run the risk of rolling back over. And the heating oil and the gas oil were really the ones that started this move to the downside. They were the ones that, that gave the warning that this was going to come off. You highlighted that the last time you were on the air to be aware of that because I remember very vividly that we spent some time talking about that. That was a really great call. Thank you. Yeah, I've rolled into the June contract, but the May contract had a line that went sort of like this in here, something like that. And we broke them below this, pulled back up towards a stop, took out another formation, took out another one. And so this was warning that that's what's kind of interesting again about when you're looking at the spectrum of these. That's why I always say, you know, some people say, well, I want to I want to trade crude because it's liquid and gold and the S&Ps and they don't really give much spot to the gasoline or the heating oil. But you have a huge advantage by paying attention to what's happening in these products because they're dictating, you know, most of the time what the direction of crude is going to, you know, where it's eventually going to wind up. And so when this failed back down below this formation, that was on April 3rd. Wow. Okay, let's take a break here. Get back. We have some more with Mike Moore. And at the end we want to hear more about his automated trading program. We'll be right back, folks. More analytics. Mike Moore. You might think that if you want to be successful at trading in the stock market, you're going to need a crystal ball. After all, it's impossible to predict the future, right? Like any endeavor in life, before you decide it's impossible, get some advice from the experts. You might find that it's not so impossible after all. For daily market overviews that give you direction on the key indices, selective stocks and commodities, subscribe to the opening call newsletter at TFNN.com. The opening call newsletter is written by 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 and your inbox every day. First-time subscribers also get a 30-day money-back guarantee. If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up. TFNN.com. Educating investors. 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 market's 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. 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 dot com slash biotech today. An investor should consider the investment objectives, risks, charges and expenses of the direction shares carefully before investing. The prospectus and summary prospectus contain this and other information about direction shares. 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, four-side fund services, LLC. This program is brought to you by Vista Gold, traded on the NYSE American and TSX under the symbol VGZ. Folks, Mike, we have a caller from Philadelphia. Jeff is asking a question. Go ahead, Jeff, ask your question to Mike. Okay, thank you. Thank you, Mike. Yeah, real simple question. I was looking for, or I cannot find a mini-contract for heating oil. I was able to find a mini-contract for natural gas, but I can't find one for heating oil. I was wondering maybe if you're aware of one. I don't think they have mini-contracts for the heat in the Arba, but I might be wrong. No. I think that I know they have them for the natural gas and crude oil. Yeah, natural gas. You can go on the CME website though. Go on cmegroup.com. Yeah, I did. I searched through there very carefully. I have the mini for crude oil and I have the mini for natural gas, but I couldn't find one for heating oil. So you're not aware of one either, so I guess there isn't one. Yeah. Okay, a real simple question. Thank you very much. Yep. Thanks for calling in, Jeff. Please continue, Mike. Thank you, Larry. Thank you, Jeff. Yeah, but even if you can't trade the heating oil, so you can make more money on the downside in the heating oil when it's becoming off, right? But even if you can't trade the heating oil, it's a benefit to you in trading the crude because it's giving you a heads up that things aren't working out well in the crude. So in here, this was chopping upwards like this while the crude was rallying and the Arba was rallying. And this day here on February 4th or 3rd of the 4th, we failed below this formation and it couldn't take the top of it back out and then we failed below another one and another one. And if you look at the crude, you know, the crude from the 3rd, you know, we've broken above this massive formation at $15 projection to the upside on the 3rd of the 4th and it actually made higher trade. But the fact that the heating oil broke back down below its formation was giving you a warning that, hey, this may not hold up. And it eventually started capitulating, capitulating, and capitulating. And now all of it's pointed back down to the downside. So anyway, that just goes to show you the power of understanding some of these. And this is the crack right here, the heating oil crack, which is a spread between the two. And you can see just the financial difference in a couple of weeks is over five grand per contract. And likewise, the gas crack has had massive move down too. They left a moderate bearish reversal above right in here, right on the close right there. And you can just see in there, that was five grand just over four days as well. So just knowing which. So in other words, I'd said, like in my post market the other day that you would likely make more money being short, the unleaded gasoline and being short, either the heat or the crude. And you can see right there that the maximum that that went your favor was 4,800 per contract. So, and that's with all your risk being relatively equal. Now, these are the contracts that you trade for the automated trading program. The spreads and things like that, correct? Yes, sir. Now, when you put an order in, it's a batch order. In other words, a whole bunch of counts go in and each one of them is allocated. One unit is or two or three, whatever they request. Well, it's a letter of direction. So there's a brokerage firm that that executes those BTR futures executes those in the accounts of their clients. Okay. So they just mirror them in their accounts, whatever, whatever they sign up for, if they want to do a one lot or two lot or three lot, they just pay per contract and they mimic those trades in their accounts. We had a question from one of our listeners in Wichita, Kansas this morning. And that is when you do something like this letter of intent, do you, is there a time limit? Can you stop it at any time? Well, there's a three, there's like a three month sign up to begin with. And then it just goes monthly. Okay. But let's say you start on the July 2nd and on July 4th, you decide you don't want to do it anymore. Can you stop? Well, I mean, you can obviously stop the trading in your account. It's just a three month sign up fee. That's all. Otherwise. Okay. All right. People jump from account to account. No. That's what he was asking. Okay. Please continue, Mike. Go ahead. Yep. Okay. So, and this is the Arbob crack. We broke below a formation up here. And then we broke below a major formation in here, which suggests that this thing is really headed to the downside. Even though we've rallied up a bit here, I think overall it's going to roll over more. Did you want to look at the S&P or the gold? Absolutely. Absolutely. Look at the S&P. And also if you have any time, maybe take a look at gold. Okay. Sorry. I got my robot running around out there on the floor. I hope it's not making too much noise. No, we can't hear anything. It's fine. All right. So this is the S&P we've run up into a full fledged just to back up a little bit. We held exhaustion below at 39, 39 and a quarter. We rallied 259 into a bullish trend against the move down from 4208 and all of that's on hold right now. I said, we held the exhaustion above at 41, 98 and a quarter. We rolled over 61.25 into a likely medium term bearish correction of trend. I said, if so, the minimum target would be 40, 61, 75. So that would be down into this level down in here. We have not hit that yet, but we've broken below multiple different formations here and then another one here. We can see a break below this and a break below here and then a pullback up towards a stop and then a break below here pullback again and we're rolling over. But we held exhaustion right in here at this blue line for the past few days. Now it's trying to figure out what it's going to do. If it takes out this formation, then it should capitulate further to the downside. If it takes out this upper formation here, then I think we're going to have a run maybe towards the highs again to test above. We just pulled that back up. Sorry, I should take these distractions out of here while I'm on. So a projection, a break below that lower formation will project this down with 30 minimum, 136 plus maximum. Oh no, I'm sorry, that's the projection from this line right here. So we've already attained 30.25 of that and a little bit more this morning. This is a trade above 4162.90, minus 50 per hour starting at 8 o'clock. I said that would project the software. I didn't give a specific projection, but at least 30 handles. So yeah, we're basically just trying to determine here, is this going to be a deeper bearish correction against this move up or is this just a shallow, temporary pullback before heading higher? But right now I'm bearish in general right here. Okay, how about the gold market? The gold was in a bearish correction from when we held that exhaustion area we talked about perfectly up here on the upside. That was with, I'm sorry, that's the SP, at 2062.5 to 2063.40 with the 2063.40 high we rolled over 82.5 and we took out another formation in here brought in 53.6 of pressure and then the trade below 2013 projects this downward 17 minimum 100 plus maximum. So we've seen 32 of that so far before short covering off the low. We did held an exhaustion right in here, had an exhaustion below at 1981.30 to 1973.30. We held that with the 1980.90 low and rallied 32.8 before rolling over. So we basically held this formation. We broke below it, pulled back up, came off, held an exhaustion, rallied up to again and rolled over. So I think that this is probably going to continue to head lower. Okay, let's take a little break and we come back and I want to ask you a couple more questions about the letter of intent. Okay? Yep. We'll be right back folks. Mike Moore, more analytics. If you're looking for potential trading setups in the stock market then Rocket Equities and Options Report is a newsletter you should try. Tamiya O'Brien delivers options and equity trades when the markets present them using a combination of fundamentals and technicals. Sign up for Rocket Equities and Options Report today with a 30 day money back guarantee so you have nothing to risk. For all the details and to start your subscription today, visit the front page of TFNN.com. TFNN Educating Investors. You might think that if you want to be successful at trading in the stock market, you're going to need a crystal ball. After all, it's impossible to predict the future, right? Like any endeavor in life, before you decide it's impossible, get some advice from the experts. You might find that it's not so impossible after all. For daily market overviews that give you direction on the key indices, selective stocks, and commodities, subscribe to the opening call newsletter at TFNN.com. The opening call newsletter is written by 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 and your inbox every day. First-time subscribers also get a 30 day money back guarantee. If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up. TFNN.com Educating Investors. Everything in the universe is governed by the Fibonacci sequence. This mathematical principle is responsible for everything, from the most aesthetically pleasing artwork to patterns in the stock market. To stay on top of stock patterns you can take advantage of, sign up for the Fibonacci 24-7 newsletter at TFNN.com. When you subscribe, you'll get a weekly report from Veteran Day Trader Larry Pesavento on stocks you need to pay attention to, and you can trust Larry's analysis. After all, he's got 45 years experience as a day trader. Larry will also provide daily charts, videos, and data on the key markets that he's tracking. Expect notifications from Larry on market movement you need to act on at any time. First-time subscribers also get a 30 day money back guarantee. If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up. Subscribe to the Fibonacci 24-7 newsletter today. TFNN.com Educating Investors. TFNN has launched the Tiger's Den, hosted at Discord. TFNN has been educating traders for more than 20 years, with live programming hosted by a variety of professional traders during market hours, the Tiger's Den. Available to all tigers and tigers for just $1 for the year. There's no catch or added costs when you join our community of traders. Sign up today and become a part of this educational community of traders. Just visit the front page of TFNN.com. 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. OK, we're back folks. We're talking with Mike Moore and more analytics and we have one more clarification on this automated trading thing. In other words, if a person signs up for $150 or for three months, that's $150. And then they can stop anytime they want. But that subscription is good for three months and then it renews each three months. Is that correct? So the minimum sign up will be $450. $450, OK, all right. That's what I wanted to know. Three month period on the front end, that's all. And then after that, you can do it month to month. OK, all right. That's good. That's fair enough. That's really cheap. I mean, that's an example. I mean, we're just taking information on these right now. We haven't priced them out exactly. Oh, OK. All right, how do they reach you, Mike, if they want to have interest in doing something like this? What's the best way for them to reach you? You can go to more analytics.com and sign up there. There's an auto trade sign up form in there. Or you can give me a call or shoot me an email at moreanalysisatgmail.com. Well, I know the brokerage firm you're dealing with, BMT, is their class act. They're at number 10 on the list. They're definitely at 10. Yeah. They know what they're doing. And they've been around a long time. So it's certainly safe money. Listen, thanks for joining us, buddy. And next week, when I get a week after this, when I get back, we'll have you on again, OK? I got a pretty nice trade right here, if you want me to tell you about it before you jump in. Fireweight, let's go. Let's go. OK, gold right here is just breaking below this formation, but it hasn't fully broken below it yet. Comes in in 1991-50 at 230 and increases one tick per hour. If we see a decent break below there, it's going to project this down with 35 minimum, 85 plus maximum. And a decent break below there would be around $14. And you'd have to risk $14 back above. Likewise, if we break below it decently and back above it decently, that should bring in short covering with the meaning that we're probably going to run back up these areas up here at 2024, maybe even behind us. Hey, thank you, my friend, to live every day in an attitude of gratitude and may God bless. We'll see all folks, may God bless.