 presentation of TFNN, a tiger technician hour with your host, Basil Chapman. Call now toll free at 1-877-927-6648. How about we'll do this again starting over? Look, it goes up to 1335,000. One of the reasons being Boeing and the financials. And what I was trying to point out before was that because the bonds have dropped so sharply, the yield has gone up, and that really helps the financials. So we've got a very select move to the upside. We've got the S&P in the Dow. We've got the S&P at this particular point coming back from a sharper loss, but it is still down eight points and 4447. It's underneath the Chapman instant right there, right there, that track, that repellent zone. It's underneath it. If at any point in the next couple of days, there's a push into the 42-4462-44 and a break above 4465.40 for New Leg B, that's going to be important. And what with the bills that have to be passed this week are lots going on. So my thinking was that there would be a rally and then a pullback and the pullback would be where you make a decision whether to buy what's happening in the H formation. But in fact, what we've got is a straight up leg and then two days of sideward action in the S&P. The Dow is different because look, the Dow has just started a leg B and it's a very strong leg B up to 16 at this particular point. The magnus just crossed positive. So instead of having a stalling formation coming back to the 34400 where we can make a decision on whether or not the markets going to go much lower or whether it's going to be a support level, we've continued higher because of the selectivity. Now, what's also important is if you're looking at the QQQ, look at this. The QQQ is down four, 4.12 at 369.19. That's the pattern that we've been talking about and one of the reasons why we still remain short the QQQ. Now, the other thing we're looking at here is the IWM, the Russell 2000. Russell 2000, I think at 225.63 as a high, we've gone to a leg B, 225.65. Nope, we need another three cents and starts a gray leg B. But I have to consider that there's a chance because the nine moving averages just crossed positive the days young, but that's the way it is right now. There's a chance that the Russell 2000 ish shares, that's the small caps, is in fact holding better, is acting better and is kind of complimenting the Dow by holding in the upper range of, in this particular case, the rectangle formation of the weekly chart and could find some leadership. And it also does have the oil service stocks that has a lot of areas that are possibly in favor right now. If you look at the oil, look at crude oil. Huge move, up $1.48 and $75.44 up almost 2%. Is it breaking out? Not yet breaking out in the weekly chart and starting a leg D in the monthly, but I think this week it will. The continuous contract just needs to get to $76.23 and a source leg D in the monthly chart. What a fascinating market. Let's go to the gold. Gold is trying to hold steady. It's up three at 1754. As I said before, it's in play on a kind of an intraday basis. But basically it has been making low lows and low highs. It's still underneath the falling trend line, up trend line in the weekly chart, which goes to about the 1800, 1813 ready. And we're down to 1754. You look at silver just lagging. Yes, it's having a green candle right now up 32 cents at $22.75, making it kind of a successful so far dreaded age pattern. But until it's raised in the 2350s, it's just stuck in the lower range. Look at high grade copper, high grade copper. High grade copper is up 0.06 at 4.2915. It's also within a range, holding quite nicely. I like that always like to look at with the ice shares timber and forestry. Yeah, but holding much better in the low range, but also trying to come back. There are signs of rotational strength and the rotational move that we've seen is really important to keep monitoring why? Look, Bitcoin was up at the 53,125 level just two, three weeks ago, plums slumps down to the 40,000 level just above the 200 period moving average trading right now at 43,770. It is in play like gold, but also within a range. Now it's made its highest just kind of consolidated in and out. I wanted to show you the TLT. Look at the TLT. Look at that move peak D underneath the peak major peak D that was made back on the, I think it was July. Yeah, July the 20th at 152.71. It's been down to the 145s. Rated to a peak D in Chapman, the fourth highest peak PD often sees a sharp reversal as it did back in that July high, what it hit just under 152. It went to 151.79 on the 22nd. And then today's low is 145.88. So this is saying in that rectangle formation in the weekly chart, we're stuck in the lower range. And we've got to watch it because it is the higher rates are really helping the XLF, the S&P Select Financial Spider Fund. And what's really important about this, at 38.72, it does have American Express, American Express, big legs see to the upside gap up today, with the inner rectangle trying to test the all-time high area. And look at JP Morgan, JPM, JPM is training also just underneath it's all-time high, both of them will go extending the monthly charts really favorably. They can go just about a point or so higher. This is going to be very important how the market continues to play out here, because this rotation is saying, if you're looking at sectors, XLK, this is the Select Spider Fund, the Tech Spider Fund. Look at this pullback that we've seen from 159.89. This is one of the few times that I can ever say there's no other way I can really count this. Well, there are but just strictly speaking, that was a peak C, peak C failure. I don't know what to say other than it's a peak D in the weekly chart, and it's really struggling. It's come off the 150.1 low that was made. So it goes almost to 160, it goes to 151, bounces to 155 in the middle of the range right now. It needs to get to the 157.80 level to say I'm back in favor. Look at the SMHs, the semiconductor index down today, down to 270.36. And what's really important about this particular pattern is that there is a chance that if the semiconductor index SMHs this week, such trade under 265, a close under 265 would say, Oh, stalling motion. That's it for the moment for the semiconductor index. Because if it breaks into the 277, 278 area, that's all time highs. That's fantastic. So it's a very important moment. I'll be back. I think we've got a break coming up. There it is. I got this one. I'll be back in a moment. I was at 231, SFV down five and a half. We'll be back in this diverse bifurcated split one. 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All right, so we I showed the estimators, I showed the XLK, I showed the QQQ and mentioned in the Denwas always show the IGV. Well I've done all the work on the IGV. I don't always show it, but let me just do this here. Tech, okay, let me just make this a little smaller and then we got ourselves organized. So make this about an 11, make it red, and there you are. Okay, so what we're looking at is the IGV which is the iShares expanded tech software, ETF, makes the peak G all-time high at 428.90, the very next day the high is 428.83, I should have put 83. I think it was 73 or 83. I'll just make it 80 for now. This is a chapter wave two bar reversal. I was typing too quickly I guess. Chapter wave two bar reversal and comes down very sharply to the 404 level and now and then it has a rally into the 420s but now it's 414 back down again and it's just flipped from an L which is long to S which is short meaning cell in other words it's gone back into the chapter wave inside track repellent zone which was a propellant zone. Now it's back inside, it's also the falling X formation and it's a peak E in the weekly and that's the reason why I was so cautious because so many of my charts, look at this, now let me go through this again slowly, spx.x that is the S&P, peak D in the chapter wave methodology, the fourth high speak that's where other things can happen that's where you lift your foot off the accelerator hover over the break and just be real careful and what we do we've had three candles sharply lower since the 45, 45, 85 high went down to 4305 low Monday exactly this time last week and then had a spectacular rally not as good as the Dow look at this rally in the Dow look at the weekly chart as well a peak G unusual peak G now what I normally do is I go G slash C and as long as the starting point hasn't been taken out that is a legitimate thing to keep it as an alternate count where was the starting point the starting point was with the chapter wave look at this this is called here we go this is a peak D and within three but within two bars actually not even three bars it makes a new recovery high for a chapter wave instant restart and that instant restart takes you to be E slash A F slash B takes a long time finding it's to G slash C so the Dow is the one that still has because of this rotation into the different areas some selective very selective strength and that strength is showing up with the fabulous look at this 261 up in the Dow I must say I had thought from this and I discussed this in great detail I don't want to go over it now then just show just briefly here look at the low that was made in the Dow right here you see this green dash line where every time it's made this kind of V shape pattern after within I should say the chapter wave here we go dark news cloud cover each one of these rectangles look how it's gone sideways and it made one sudden splash to the downside and then it took off rectangle smash the arch formation smash to the downside rectangle straight down and then breaks out of the rectangle here it does exactly the same thing and now what we've done is we've gone right back again so this is this is something that you've got to consider as a pattern that if it repeats you have to consider that it is a template that the market is treating as almost a benchmark even though it doesn't know it's never heard of this chapter wave no phrase dark news cloud cover but look how it's acting and that V shape pattern now the stochastic is running sharply to 55 the on balance volume actually now is a little weaker although it made the V shape recovery and the magnetic cross positive and that's really important but you haven't got the nine period moving average over the 14 period moving average and that should how does that happen I just lost it unbelievable all right well this has just crossed positive the histogram has gone to a plus 16 instead of zero or negative so that for the dow is very positive it's just about to bump into the inside track repellent zone let's put that in yes we know we took the apples to apples it's right at the line right now there it is pink all right so that's the falling exclamation plus it's got the inside track repellent zone so we'll see what happens just the rotation is just spectacular the way just the market is refusing to go down as a unified overall spectrum instead it's just very selective but on the way down when it makes a little v shape bottom we got to watch that very closely and that includes the s&p which is now down over two just under two and that's really important it was down much much more before oh i need to go to i did that did that did that okay now we can get to some of the questions that i had fxi could i look at that yes fxi is failing it's really struggling it's made the arch pattern that goes from an h to an m lowercase h to lowcase m took out the left side low now it's in it at 38.55 this is where if you start to see the histogram and the magnate improve that can help if you see the stochastic at 21 get to 25 or 28 percent that'll help but so far it's doing nothing if you want to look at the stocks that we often looked at like the buy-dos the buy-dos holding very nicely didn't take out last week's low it's down 78 cents at 155.79 not bad action it's okay um imd let me just see question in the then yes i know very nice it made that uh 23.76 23.79 so that was a peak d very sharp decline gets a down arrow right there comes back 30 point goes just above 30 and it comes all the way back down to the 18s sorry the 16s and now it's trading at 20.93 yes this is nice action and it is forming a cup formation in mune bioink trading at ian mb 20.93 trading up 77 cents right now if it's able this week to close in the 21.73 area i would say that's a really good sign and should try for the 22s but it also needs to hold 19.30 at this particular point if it's going to suddenly pull back but it did make that requisite peak d in the buy mode in chaplain wave uh just one month i'll put a plus sign i'll have to look to see does it get a down arrow well it doesn't have to so it's a peak d in the weekly chart and a leg c immune bio main leg c in the monthly chart nice action iyt this is so important spend a little time with us over the weekend but i i did my overview section my overview video uh for subscribers and opening call and i mentioned that this is the first time we're starting to see strength in the transports the i-share delgerance transportation areas index and if we can start to take out the 256s 258 resistance area that's going to be fantastic this week if we can do that if you look at the us air aligns uh just being up with this by both look at this 24.82 52 cents that's a nice action look at the v-share pattern in the the the flag pattern in the in the monthly chart very good i'll be back in a moment that's captain take a decision sour are you having fun trading the markets but having trouble finding like-minded individuals to discuss your 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f in the two-minute chart abcde also could have recycled but what's really important about this is that money's sold to find its way look he has to he has the ten-minute chart last night i thought he made a really nice around about 10 o'clock ish he made this peak e and it couldn't break above for about an hour or more than an hour and then all of a sudden at two o'clock i didn't see this uh i was sleeping of course um it went to this right arm extension what's the difference between a rogue wave and a right arm extension a right arm extension isn't just one sudden bar that that breaks above the previous high when everything looked like it was negative you're correct in being short in this particular instance there's a steady move up but only one of them of the technical indicators that i use in this case the mag d was moving up and confirmed that the stochastic just barely popped above 80 percent and within two bars broke down again so that is a right arm extension going to a new high it's usually a new high or recovery high of the particular chart pattern you're looking in whatever time frame and then it just steadily breaks down the rogue wave goes to the upside and the same bar almost has the people who were short saying i should knew i shouldn't have cut shorted i'm covering it here at the new new high and the people who got out earlier said oh i knew i shouldn't have sold it i just a fantastic stock why did i do that i'm gonna buy back a little bit and it hangs out at the new high just long enough to get everybody in and out and then whoosh it goes down again remember that's the sign the beach says high tide at noon at 12 or 6 you get that rogue wave that didn't see the sign splashes everybody and then the tide continues going out in this case it's a little different and you also had a chapamish silent doji right there the bar before so this is a 10 minute e mini s and p and then it just goes down down down look at the pink line and a finding this pink line is turned green and now we're looking at the stochastic at 87 and the magnies positive and now all of a sudden you've got the s and p futures positive one more time and now this one because of the down moving so sharply high 257 up this is a good sign and it's just saying that the market is being selective and the same look if you've got a problem like the qqq and you want to go down that's fine now it's down three you're just independently weak but we're going to stay with what's working and that's the long side so that's the way we're looking at it right now um a couple of questions came in here where did i see the questions uh the quib i don't know if i've still got quib all notated let me just check no i don't i have it in the day you've made a peak seeing us pulling back you can't even remember what it is i keep looking at it this is crane shares csi china international etf yeah well this looks very much like the fxi but um i suspect that it's the rotation that's really important and that's why the market after making that monday a week ago low is trying to find some support trying to find some excuse to continue moving up now what's happening is it's ignoring that debt ceiling just whatever it is that's that could be a handicap in the political arena and i don't want to deal with it politically right now i just want to look at the charts and say look if the dow at this particular moment is going to able to if it's able in this strength that is showing up 250 to 3 if it's able to this week any day i'd like to say push above but i'm going to actually make it a little bit more detailed i'm going to say if the dow closes so for this is outstanding action but if the dow closes above 35 250 i just have to say fabulous action maybe september for the uh dow is going to be um just a consolidation month and october season new high i mean this is i i just have to look at this and if it fails here it has to give back this entire candle with a low today um in the right here 20 30 347 39 7 yeah so if at any point this week we close under 34 500 he says oh yeah comes at art formation so it doesn't look like it really wants to do that because it's just constantly finding strength somewhere and that's really important and so with that said a couple of stocks that we want to look at here but let me just go through this cintas has its earnings come out and another i always is tomorrow anyway early this week i think it's tomorrow and it's in gray leg b underneath the peak e doji candle that was made at 409.80 did i not type that in now i didn't 409.80 all-time high in cintas overalls uniform rental ctas up a dollar 96 at 40344 right now gray leg a because under the previous peak major peak e gray leg b at this moment and in the week which i had made a peak e but holding really nicely hit the 14 period moving average look at that black line right there and ratted sharply last week and now it's making a new weekly recovery high not all-time high but a recovery high so these are very important when i look at my cash index which is cintas amazon amazon still week down 74 3351 so that says that the cup for the arch formation in amazon is still in in place and that the 32 89 200 period exponential moving average is absolutely key to hold on a closing basis uh that's cash c a s h spy is the other one spy coming back nicely today it's down 24 cents at 44367 now this is the one that i have an alternative count and that alternative count i can call a probably a peak g slash c and almost certainly that decline says it's a g so i'm going to take out the c and i'm going to put an upside down this is that uh upside down v which is the there we go carrot and i'll make it red and it says you did have a an arrow down arrow but then this particular market extended even higher and then it made a top and what can i do for those of you used to travel with notations what am i about to do i'm about to grab my straight line i'm about to go to the doji candle all-time high i'm about to draw in a trend line to the downside and lower highs and much lower lows and i'm saying that spy the s and p spider fun made an all-time high of 454.05 right here 454.05 and i believe that was september the third but let me just double check september the second let's put that in there there we go nine two 21 i make it red because that's in a cell mode and it goes trough a trough b and that's it so another thing that we look at in the september methodology on the way down yes we do the notation but it's how severe and quick you get either a single leg down or two legs to the downside and then reverse up so this is really important going from the fifth from the 454 level thank you can't wait to know uh in september early september to right to the low that was made last week at the 429 level and now we have 440 feet and we've got the chapter in the early exclamation i'll join you and see what we're gonna be looking at are you in the market for buying or selling real 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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 foresight fund services llc don't forget you can listen to tfnn live on your mobile device 24 hours per day go to tfnn.com then hit watch tiger tv that's tfnn.com then hit watch tiger tv i wrote spousal chapters here on the 27th of september monday and we're looking at the dow up 251 s&p's now to a positive point we're gonna go to mark and four calls mark how are you good battle how's it going today good thank you you'd like to look at um i've got a couple plays in the oil services area i've got the oh i h in the mid 180s and i've got rig in the 335 area and i'm wondering what you're you can give me some targets on those so rig is the oil service etf is doing very nicely it's up 10 today 247 this is a leg d there's also a left side right side left side shoulder around about july in the 170 80s area 175 and then there's the head down to the 160s that was down mid august and then a rallies and east army winters the rectangle formation and it fails so this is not your classic head and shoulders in the sense that i don't have really a cup formation and anything like that but definitely a higher left side the head is lower that's a gap down with an item reversal and that was the low of the 17th 18th 20th the 20th of august at 164.41 rallies up comes back down and it's gone peak ap bpc and then the right side inverted head and shoulders has the low of 174 85 and now it's trading at 199 and that's leg d now the usual thing is i say in a leg d you could be a little careful raise your foot of the accelerator hover over the break because that's where other things can happen the magd is making this m shape pattern the stochastic so that's still positive and the histogram is very positive the stochastic is okay it's at 55 percent it is rallying but it's not great and the nine period moving average has made a v shape reversal but yes on friday and today you've got the nine period moving average crossing over the 14 period and both of them are crossing over the 200 period moving average so that's just suggesting that i can look to the left side for some kind of a target and the oh h the target would be first of all halfway into the candle that big candle of the 14th of july 215.89 high 200.66 low that's a huge candle so right in the middle there let's just say round about the 208 area so that's the 28 area would be a target that i'd be focusing on as where if there's a break above that then all of a sudden the high of that candle becomes a focus but that's right now the way it's acting especially with crude oil i'm going to put the two together even though they're not a hundred percent related directionally they are this is a leg e in the crude oil at this particular point up at dollar 37 and if you look at the oh h again and now you put it back you're talking about rig which is trans ocean limited offshore drilling oil and gas it hasn't made a leg d yet above the peak c so i like the fact that it broke out of the falling explanation so let me just go this you want to know the parameters and i'm saying in leg d you want to see an extension preferably in leg d but it's okay if there's just a bar of consolidation maybe Tuesday and then wednesday breaks to the upside could even be an instant restart but you really want to see all the trading this week above i would say above 196 days low as 195 53 i'm going to give it a point between 196 and 194 should be very strong support if there is a digestive phase this week and i think we're getting close to it and if you look at so that's the downside the upside all i can say oh let me go to the 120 minute chart right here 120 minute chart yeah a little extended so this is peak so that's a b d it's in it's in all egg and let me do that again a b c d 79 days yeah e so it's in a leg e with a gap to the upside and that's why i think it confirms what i'm saying is that we just a little bit overbought on the shorter term the weekly chart in oh h is starting to prove you want to see the nine period moving average over the 14 and the magnitude positive there's a lot that still needs to happen in the oil service weekly chart and the monthly chart is improving but there again it's the same sort of thing so what i'm saying is within the context of what you've done in your entry point great entry point i would just i'd have to give it a couple of days everything about it is suggesting it wants to go to the 210 to 15 area over the next six weeks or so it could happen very quickly or it could be slow it'll happen very quickly if we above 205 by Tuesday or Wednesday so that's that's oh h and rig is almost the same story but the numbers are different because it hasn't made and the magnate is just in positive again for an m shape pattern sarcastic slagging sharpies down is at 44 on balance volume is good nine period fun enough today is just cross positive so i like i like this the chart pattern of rig actually i like all of the oil service ones that i looked at over the weekend going into this morning and all i can say is that if oil continues to be as strong as it is it's a good sign for the economy number one but also i think it's going to help enough stocks and as as we saw last week i think was we were looking at this i'd mentioned that there are a lot of oil service stocks in the small caps so that also helps them so i do like it key support is a 346 to 333 i'm inclined to say in this particular one in rig i try to hold it longer even though it could be whipping and you're talking about a stock that is up eight and a half percent right now it's only up 30 cents so because of slow price the percentages are going to be quite heavy if it moves even just you know 25 or 30 cents but in this particular instance that's the supporters in the 355 area to 343 i'd say and i like it and if it if it closes well first of all if it goes about 3084 cents it starts leg d that's that's where you want to see the sarcastic preferably about 57 percent preferably 63 percent and if that that occurs then it helps the week the daily helps the weekly and the weekly still got a lot of work to do but that's what you want to you want to see there's a consolidation this week it shouldn't be more than two days of just consolidating the third day should see a new recovery high hope that helps you yeah that's great thank you appreciate it my pleasure so folks a couple of questions let me just get to the right and uh yeah so could i look at certain stocks i will do that right now clf clf is a cleavan cliff cleavan cliffs is trading federal steel iron or pellets uh it's in the steel industry obviously it's up 44 cents at 20.94 is this the move from the 200p moving average after that peak c and that that was an all-time high failure an alternate i couldn't make that an alternate count i didn't i should have done that now i couldn't defg yes i could g stands b and it becomes a g okay who i was worried about that i don't want to see too many stocks make peak c all-time highs and fail so this one's pulled back i'd like this only as a trade because it's trying to fill the gap would i buy it right now i well that was a question would you buy cleavan cliffs right now i'd nibble on it as a kind of a starter position of i haven't got any at all and then i just have to really play out but i would have a tight one point stop probably even less than that at this particular point 30.95 clf i'll be right back 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 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 markets can rise and fall like the tides subscribe to basal chapman's newsletter the opening call and you too can ride the wave basal chapman is an authority in technical analysis his Chapman wave trading system has been helping traders identify trends and capitalize on momentum in the markets since 1984 tfnn invites you to test basal's proprietary Chapman wave trading methodology with a monthly subscription to the opening call newsletter for only $149 your subscription to the opening call comes with a 30-day money back guarantee as well as daily market updates on key indexes stocks and commodities ride the wave sign up for the opening call risk-free today are you looking for a secured investment which pays you on a monthly basis the target first mortgage program may be the program for you the best rate on a five-year cd in the country right now according to bankrate.com is paying one percent per year or $1,000 per 100,000 invested the target first mortgage program pays seven percent 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cannot ignore strength now i don't think that you can talk about just see an email just came in here Pelosi sets thursday and i heard it i just briefly that i'm trying to not listen to news as much as i can the other day and said she said i will not put it to a vote until i know i've got the votes and she's been in the business a long long time so if she sets thursday as the voting i think we can see some choppiness i don't say that's that's been my thing all the time that this is not a joke you've got it you can't have you can't have democrats vote entirely one way and then republicans the exact opposite when it comes to trillions of dollars it's really important that you have an agreement that you make a compromise even though we know the compromise is always terrible because the what happens is the fine print becomes the big print over two or three years that's no more number two is i always say everything that gets voted on should have a time limit you should have to revote because times change everything changes in two years time when you're going to have the same parameters you don't so you want to revote on all these things anyway let's get out of that so let's just make it as simple as possible the dow is bumping up against resistance just hit that red line right there 35,061 that's the chivalry inside track repellent zone this is a fabulous action and the dow is helped because the yields are going higher okay the s&p and i thought the dow would stall at the 34,800 area i thought it would not break 35,000 what we today we did just by a fraction we're under right now at 34,968 the s&p you can see that's what i was looking at stalling out doesn't march over plus the full bank and the full bank is where we decide are we going to be buying because the qqqs can remain short and quickly these three problems discussed in Portugal i'll be back tomorrow have a great day great programming all day we've gone off here and come here right in the sources of the 9th month 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