 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 we're going to take a look here at the gold market folks. This is a chart that goes back quite a few weeks as you can see here. We were waiting for this beautiful pattern completing here at nineteen fifty five. That's where we bought it. It had a nice move up to nineteen sixty five. So I put the stop at break even thinking it would not go down there again. And by golly it went down there made a new low at nineteen fifty two and then went back to nineteen sixty five. So the only way that I can handle that now is to wait a day. But that goes with my philosophy that you know it's not how much money you make it's how much money you don't lose. So that's one of the reasons why I did that now. It's not going to go straight up from here. Well it might but I don't know we've got the Fed tomorrow acting. So that'll be very interesting. But I wanted to spend a moment here. By the way Jeff I guess today will be Jeff huge of alpha insights. But I wanted to go over a couple of trades that we've been looking at over the past few days. I'll bring this chart up here. This is the chart for October cattle. And this is a very very heavily traded stock futures by the commodity funds folks there. This is one of the big ones that they trade a huge volume. And as you can see here I believe we can see it now. No we can't just give me a second here and I'll see what I did wrong on this. I don't know why it's not catching the first time here. There it is now. Now it says it's ready to go. OK. All right as you can see here we had multiple ABCD patterns up here with the three drive to a top pattern. And now we've had the sell off. Now you notice that the sell off now is equal to these other two sell offs. This one and this one. Now what we're going to do now and this is this is what we're going to be doing on August 2nd is reviewing how we set some of these trades up and I'll show you one that we had today here. But as we look at the cattle market getting in here and I believe why do you do this to me. I think this is no that's not it. Oh very there it is right here. We've got it. There it is just a minute. There it is. One second we'll get October cattle in the house here and we'll be ready to get this up here again. And now what we're going to do now is we're going to look at the October cattle as where they were today. Now we set this chart out last night saying the cover your short positions down in this area right here where the 61 percent retracement comes in. You can see by the two triangles there. One's on the right that that is a nice three drive to a bottom pattern. And that's the place to look to not only to cover your short but to go long and so far it's working. Your stop is right below that level. So you're only risking about 80 cents which is about $400 in cattle. But on the downside it made almost five cents on the downside folks. And that's a that's a really big return for only being in it for three days. So that's what we're paying attention to today in the cattle market. I bring this to your attention because this is the kind of thing we're going to be looking at on August 2nd when we do our live trading thing. We'll move down to a smaller time frame to see how these markets are operating because everything operates on ABCD folks. It all starts with that and I'll be spending a great deal of time proving to you why it is that way. Now if you'll remember about oh my goodness it's been a long time ago. I think about it must have been a week or so ago. We were looking at the it was a week or so. Let's get this up here. We were looking at the price of the British pound that we felt because of the same thing. This could be cattle. They looked the charts are exactly the same. But as you see this you can see the big ABCD pattern right up here. It's perfect ABCD. So you go short there at that area 131 and you came down and you want to be looking at around this level right here which is the 382 offer this level right here. You see how this is equal to this and this is a little bit more than this but right on the fifth number and not only that but the number of days down in the move is also equal. So let's take a look at what happened with the British pound. Now we sold that British pound three times folks on each of those 382 retracement. So let's get it up here so we can take a look at it and basically each one of those is like a separate trade. You know what I mean that way so you wouldn't have to follow all of them. You just follow the British pound if you wanted to. You notice here you see how it's been going down. This is midway folks. See there was the first move down. There was your second move down. OK. And then today is where the market finally turned and started to go up. So we closed all those positions out and now we're waiting to see how the market will react to the upside if it does. And remember tomorrow is Fed Day and believe me the currencies move a lot during Fed time and they might collapse again. That I don't know all I know it's been a good trade. It's done everything we wanted it to do. And when you're looking at an hourly chart that's where you want to take your profits on and that's what you'd be looking at. Look at this beautiful three drive to a bottom here folks drive one drive to drive three. That is a perfect ABCD right to the downside here. There's your 78 percent pullback. And then of course we got up to this level here just a little while ago. So it's not everything that it was supposed to do. And since we're looking at the British pound when you're trading currencies if you do it the way we do it 24 seven you're not going to put multiple positions on. If you're trading the British pound from the short side you should not trade the Euro from the short side. The reason why you got to pick one or the other because if you don't you're doubling your position. And that's what you try not to do. So let's just take a look here at what's happened to the Euro in the past two weeks. If you if you'd like to see ABCD patterns stay tuned. Yes Johnny I see your hand is up there. So just be patient. We'll get you in involved here just a little bit and we'll see where we are right here. OK now as you can see this this is still coming down just like it's look at these beautiful ABCDs all the way down. And today there is your final ABCD coming in right at the exact bottom. And it was a 61 percent retracement of the low that we made way back here. So those are the things that you want to be watching and when you're day trading and I try to make my living doing that. That's what you're trying to do is you try to find those things that line up just absolutely perfectly for you know they don't always do that. But when they do and when they do that's when you've got a chance you know to see if the market is really going to react in your favor. OK so that's what we're paying attention to so far today. Let's move on to one other one here. We've got a we've got a break coming up here before we have Jeff huge and I want to make sure I make sure the timing thing is working good. I got a whole minute left. So I wanted to bring up one other one here that was just a second here. This is one that we did last night. It's been working quite nicely. Hold on. This is the December soybean oil. Now this is in the midst of a drought folks. And but this is what it you can see here. We went up to the ABCD pattern right here and broke down. What did it do? It went right up to the 382 retracement interday last night and then had a big break to the downside. It's up about nine hundred dollars from where we originally sold it and that puts us in a break even situation or even locks in some profit. So we're going to take a little break here and we get back. We got some more information and hope you'll enjoy it. So eight seven seven nine two seven six six four eight. Attention traders. Larry Pesevento the renowned trading mastermind is holding an exclusive live trading event on Wednesday August 2nd. From 9 a.m. to 2 p.m. eastern time transform your trading skills with the real time wisdom of a Wall Street veteran. Just two hundred ninety five dollars gets you a front row seat to this power packed session. Plus a month free of Larry's sought after newsletter Fibonacci twenty four seven a ninety seven dollar value. Elevate your strategies to code the markets and achieve your financial goals. Remember this event will be archived for all attendees and Larry only does a few of these a year. Don't miss this opportunity. Sign up today at T F N N dot com. Secure your future and start trading smarter T F N N. Educating investors. 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 Keg stats Tiger 4X report. Teddy Keg stat breaks down the 4X markets every Monday using his 30 plus years of experience as a trading veteran of futures 4X stocks and options. Teddy releases his weekly Tiger 4X 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 debonds as they both influence 4X markets tremendously. When you sign up for the Tiger 4X report you also gain instant access to Teddy 60 minute webinar archive. He just hosted 4X strategies and fundamentals. What is behind the Tiger 4X report for all the details and to start your 30 day Tiger 4X report subscription today. Visit the front page of T F N N dot com T F N N. 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 at number two for the year. An amazing accomplishment. Steve Rhodes is committed to sharing his techniques and knowledge with anyone who wants to learn. And he shares his vast amount of trading knowledge every day in his mastering probability newsletter. Steve's award-winning newsletter Mastering Probability is delivered every trading day with updates throughout the afternoon. Sign up for Steve's market newsletter Mastering Probability and you'll receive access to 7 of Steve's educational webinars absolutely free. At T F N N all our newsletters come with a 30 day money back guarantee so you have absolutely nothing to worry about. Visit T F N N dot com and try Mastering Probability 30 days risk free today. T F N N Educating Investors. Toll free at 1-877-927-6648 internationally at 727-873-7618. Okay we're back folks. I'm having some trouble posting my charts. I don't know why it's not working the way I wanted it to but let's take a look here. This is the long term chart of wheat folks. You'll see that big ABCD down at the downside there at $6 a bushel. I remember wheat was last May wheat was trading for $13 and 50 cents per bushel. It'd been limit up two or three days in a row I believe. And now we come all the way down at $6 a bushel. Nobody wants it. Now it's rallied almost $2 a bushel and everybody wants it. So that's the way it goes. You know when these charts start to move it's not how much money you make it's how much money you don't lose. So pay close attention to that. In the midst of all of this I posted that chart of the December soybean oil just a few minutes ago. That is the same contract that I used to get my money back that I lost during the 1974 stock market crash. Because everything crashed during that time. All commodities everything was going down. And at that time in Los Angeles engineers couldn't even get a job. There was a overall oversupply of engineers and they were working as shoe salesmen stock brokers any place they could get a job. And now of course they're in really strong demand. But that's the name of the nature of supply and demand. Anyway the reason why I try to bring these charts up folks I work on a system of AB equals CD. The problem is AB equals CD is only perfect about 40% of the time. The other part of the CD leg is which is the key. The CD leg is going to be either 786 of the AB leg or it could be 1.27 1.618 or 2 or 3 or 5. It could be anything. How it comes out of that C leg is what's important. And that's what we're going to be talking about on August the 2nd to show you. And we're going to show you examples of it. You have a really strong trending market and you'll be able to get on to that and ride that horse for a little while. Anyway that's what we're paying attention to here today. But my charts are having a hard time going through. So what I want to do is to give you a little bit of my experience with Mark Douglas. We had that huge storm here just a few weeks or last a week ago Monday. And when Mark moved here on August the 16th of 1996, we had the second largest storm. The one we had the other day was the first largest. The tree in front of my house, a 60 foot pine tree got hit by lightning. Split in half and half of it went into my house and did about $35,000 worth of damage. And I took a couple of weeks off because of the fact that everything was shut down. So I went to California to visit my daughter and had some fun and stuff. But the reason why I bring this to your attention is during those four, we see five years, it was more than that, it was eight years. In 2004 he moved up to Scottsdale to get a lake up there on Lake Vista. He and Paula and that's where they remained until he passed away on September the 27th, seven years ago. Let's make that six years ago. Anyway, every day that he would come in we would sit together and many times he would have guests coming in. Some very famous guests. I don't tell the names because Mark said it's just our business and nobody should know who they are. Even though they were famous, they were really nice guys. There was only one person in that whole group that was a fruitcake and he was one of the more successful one. He was just very eccentric. But when he sat down and talked about these guys, there was one thing that all of these successful traders had in common. You don't have the fear of losing money, all that stuff. It was fear of leaving money on the table. And boy, I tell you, when you listen to Mark give his lecture on that and I'm going to repeat it because it's really simple. The only person that doesn't leave money on the table is the person that gets filled on the absolute high or the absolute low. And you know that's not very many people. So get used to that when you're always going to leave money on the table. One of my favorite books is a book by Bernard Baruch who was the counselor to J.P. Morgan. He was one of the best investors of the 1920, 30 and 40 era. And in his book he writes, I make all of my money trading that 60% in the trend before the high and before the low. He said that's all I'm interested in. I'm not trying to get the exact high. I'm not trying to get the exact low. I'm just trying to get a nice piece of the middle. And that's a way to look at. That's what these patterns are for. Because when they fail, they go on to the next level of what they're supposed to be hitting. So that's why I try to teach these patterns. And you can learn them. It just takes time to get it. One of the perks that you get for coming in on August the 2nd are these flash cards that our good friend Mr. BV down there in Texas made for me. And these are spectacular color cards that you can put on your desk and you can just match the card to the pattern. It shows you where you want to enter, what your stop should be and where your profit objective is. And it's got all 12 patterns lined up. Now it's really six buy patterns and six sell patterns. Plus there's one other pattern that we teach, which of course is the 3A2 pattern that is not included in that because you don't need that. You just need one simple calculation for the 3A2 and that forces you to trade with the trend. That's what we're looking at when we're trying to do that. The other part of what I worked with Mark is that each day we would trade together. He would be here at six o'clock. He had an office in the other part of the house here and he spent all of his time here at my office in the front of the house. And he went in the back of the house once in a while. But most of the time we would just sit here chatting and have guests come in. Other traders from the Tucson area, Bob Minor lived here at the time. Carolyn Broden lived here. Scott Carney was here for a while. There were a lot of people who came in and out during that time. And so we would chat with them and get ideas and we would have a little get together one day a month on a Saturday afternoon, Saturday morning, and we'd spend three hours sharing trading ideas. And we did that until everybody got all the information that they needed and then everybody stopped showing up because they knew as much as everybody else did. And so that was the end of that. So it was a good time. But it ended when Mark moved up to Scottsdale in 2004 and he lived there until 2016, I guess, yep. Time goes so very fast. One quick story and that is Tony Bennett passed away here this past week and I have a Tony Bennett story. He used to eat at Patsy's Restaurant in New York because the Mater D was one of his very dear friends and that Mater D happened to be a cousin of my friend. And we were there for the three of us were there for Valentine's Day. I think it was 2005 or 2006. The place was packed and Vinny said, you're going to have to share a table with one of my buddies. I said, because it's so crowded, we just don't have any room. And it was Tony Bennett and he's a very small guy but just as personable and wonderful human being as you ever want to meet. And there was a lady having not only a Valentine's Day party but her birthday party. And when he was finished having dinner with us, he went over to the table and sang happy birthday to her. And there were about 14 tables in this small Italian restaurant and it was a raucous. I mean everybody just gave him a standing ovation. He was really a stand-up guy and led a great life and will be missed. But he's in good hands now. And just like David Paul will be very soon, folks. He is really, really sick. If he lasts through the end of the week, I will be surprised because he is sick. Next up is Jeff Fuge of Alpha Insights. Stay tuned. The Gold Report. The precious metal gold is still king. It continues to hold the most effective safe haven and hedging properties across the global major trading hubs of the London OTC market, the US futures market, and the Shanghai Gold Exchange. The Gold Report. Tom O'Brien publishes his weekly Gold Report every Monday morning for subscribers consisting of coverage of the XAU, HUI, GDX, The Dollar, Bonds, the South African Rand and five different mining equies with specific buy-sell recommendations. The Gold Report. New subscribers get a 30-day money-back guarantee so you have nothing to risk. Subscribe to Tom O'Brien's Gold Report newsletter now at TFNN.com. 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 in 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. 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 Mobile device 24 hours per day. Go to TFNN.com and hit Watch Tiger TV. That's TFNN.com. Then hit Watch Tiger TV. Okay, folks, we're back, and I believe we have Jeff Hughes of Alpha Insights on the line today. Jeff, how are you doing? Hey, I'm doing great, Larry. Great to be here. Thanks for having me on the show today. It's great to have you. We're going to be talking about bullish sentiment as a very high extreme, and I can see by this chart it's up there with a lot of other relatives where we've had before. So what do you think is going to happen from here? Well, you know, it's anybody's guess, right? You know, I've been wrong for the last three months calling for a market top, but things just keep moving in the direction of more and more extreme, and at some point we would expect things to break to the downside. We just look at the name exposure index. This is the National Association of Active Investment Managers. They've got a cohort of professional investors that respond to their survey every two weeks, and they haven't been this bullish since the NASDAQ topped in November of 2021. They are now at 99.05% invested. That is basically fully invested, and it doesn't really get much more than that. Occasionally they've been leveraged a few times in the last 10 years, but that's extremely rare. The American Association of Individual Investors, Larry, this group has become as bullish as they were when the ARC Fund, Kathy Woods' ARC Fund, hit its all-time record high in February of 2021 when the whole disruptive technology and EV craze was at its peak boil. They are now at 29.9% bull bear spread. This is when you take the bulls, which are 51.4% of the survey respondents and subtract the bears, which are 21.5%. We're at 29.9%. Normally at 30%, that is considered to be a turning point for the market. So we're just there right now. And the simple fact that we are now as bullish as we've been since things were crazy back in February of 2021 leads us to believe that things are extremely close to a turning point now. I think this is the 12th day in a row where the Dow Jones has been higher. I don't think I've seen that. I guess it'll be the 14th tomorrow then. Let's take a look at this. A couple of these are really interesting to me and this next one is about momentum and how it's diverging. So let me get this up here and we'll try to let the folks see what we're looking at here. So this is about momentum. As you know, momentum is one of the confirming factors in the market for price. When price breaks out to new highs, you want to see it attended by equally strong momentum. And when we see momentum diverge from price where price makes a new high and momentum fails to confirm that by making a new high. In other words, makes a lower high. We call that a negative divergence. And as you can see from this chart, negative divergences in momentum have attended every single reversal and trend going back to September of 2021. And much further than that, we're just showing it back to September 2021. And the point here is that we're looking at the magnitude of this divergence is substantial. We're actually seeing a double or triple divergence, however you want to look at it. Whereby, if today or later this week we make a new high, it looks like momentum is going to fail to confirm that high as well. So that'll give us a triple momentum divergence, which is in and of itself a very compelling reason to avoid being long equities here. Okay, let's get the next one up here so the folks can take a look at it. Do you do all these charts yourself, Jeff? Are these all your... Most of them I do, and this particular one on the seasonality of volatility I'm borrowing from a good friend of mine down in New Zealand, a guy by the name of Callum Thomas who runs a firm called Top-Down Charts. He does fantastic work and on the global macro perspective, he does a lot of global stuff. So he's a friend of mine, we share our research sometimes and he's got enough to lend this chart to us. And what we're really looking at here, Larry, is the seasonality of volatility and VIX is really the way that we can visualize volatility in a stock chart, for example. Today, the VIX is the red line. If we look at the dark gray line, that's the typical seasonality going back to 1990, which was when the VIX was created. And so when we take a look at how VIX tends to move within the year, it tends the bottom in mid-August and rally and peak in mid-October. And so, you know, seasonally, VIX is poised for a significant move higher and as you know, volatility tends to, you know, it tends to occur concomitant with a decline in equity prices. And so we're looking for, you know, a high probability reversal in the uptrend in the S&P 500 and the NASDAQ with volatility spiking accordingly. And so while lining up in terms of the seasonality, it's the same for stocks. In fact, we're not showing the chart this week, but in the past week published the cycle composite for the S&P 500, which takes three cycles. It actually looks at, you know, the four-year presidential cycle, the 10-year decennial cycle, as well as the one-year seasonal cycle. And that composite cycle is slated to top this month. And it's slated to move down into late November. November 20th is when it's expected to bottom. So we're looking for momentum of the market to reverse to the downside here as a result of the seasonality and cycle effect. Okay. Well, I'll tell you about the, you know, other people are getting involved in the stocks. I play poker on the weekend. We have a little poker tournament at the casino here. They buy in for $70. They move around from table to table. And each table that I played at, they were talking about the stock market. I hadn't seen that since the dot-com bubble. A little bit during the Bitcoin stuff, but they were actually talking about their stocks, Meta, you know, Meta and what was the other one that was really big, Microsoft. Those were the ones that they were heavily involved in and they knew everything about it. I mean, I was listening to them, you know, so they don't even know what I do. So I guess giving a feedback that boy, I'm going to go back here somewhere, at least here in Tucson. Okay, let's get up. I was at the airport and I got my shoes shined not long ago and I ran through the exact same situation where the shoes shined guy started asking me about the stock market because I had all the stuff on my hands. You know, basically telling me everything he knew about the AI revolution. Yeah, well, I saw some stuff on AI over the weekend. It just scared me. You know, I was shocked. I said, oh my God, this is going to change. I can see why these people in Hollywood are complaining and you know, because this is, it's just amazing. It was an avatar and they made her into an avatar and I could not tell her from the real Nicole Kidman and it wasn't her because she was talking very, very dirty if you know what I mean. I mean, it was really, it was amazing. It was an avatar of Nicole Kidman perfect in every sense of the word and they told me that you could buy one of these things for a thousand dollars and build it any way you wanted to and I just, I said, oh my God, what is happening to the world? I mean, I used to think playing with a wooden truck was fun, but my goodness, this is getting ridiculous. Hey, we got to pay a couple of bills here, I think otherwise Mr. O'Brien is going to get mad at us. Will you stay with us Mr. O'Brien? You betcha. Jeff U, Jalfa inside folks will be, insights will be right back. 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 for the future. 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Traded on the NYSE American and TSX under the symbol VGZ. Okay, we're talking with Jeff Hughes of Alpha Insights and we have a caller from Iowa. Keith, are you there? Hi, I'm Larry. How are you? I am good. Well, we have a stock man on the line and Jeff Hughes could tell us about Tesla. What do you think here with Tesla? Jeff? Well, you know, I'm not an advocate. Let's put it that way. It's not a stock that I am involved in at this time. I would, you know, not advise being involved in it here. I think the valuation is utterly ridiculous and, you know, I think that it's an overhyped story and it's run right into a deciding descending trend line and reverse to the downside. I would be looking for the stock to break back below. It's a 10-week moving average and 89-week moving average, which converge kind of right around that 250 to 47 range and if we broke below that level I would expect the stock to trade back down to around 190 to 200. However, if it did make a new recovery high above say that 300 level we could get another push higher but that's about all I can say about Tesla. Does that help, Keith? Yeah, it does. I'm kind of on the same line. I wanted to ask you if I just got lucky or if I was smart. I did buy some puts back last week before the break and my reasoning being was we were coming off a 2.618 of going all the way back to March and then it looked like there was a three-drive pattern there on the 21st of June to just last week and I wanted to get your opinion if I was on the right page or if I just got lucky. No, I'm lucky. I'll put it to you this way, Keith. The more active I am in the market, the luckier I get. Just manage your risk. That's right. Luck is where preparation meets opportunity, my friend. That's right. Thank you so much. You bet, Keith. Thanks for calling it. Jeff, would you continue here with the cycle degrees of the Elliott Wave, please? Absolutely. As you know, the rally through that August 16th high has been of a magnitude where we absolutely have to consider the possibility that the bearer case is wrong and that the stock market is actually in a new bull market. We don't favor that conclusion. That's a lower probability outcome. But we put out both a preferred count, which is the bearish version of our count and an alternate bullish count. Now, let me put it to you this way. We've reached a level where I believe we've craced out a second wave of a five-wave decline so far and that a third wave is probably mature and about to roll over. But it's possible that is just the end of a third wave within a more bullish trajectory higher. And so what we're looking for here is a pullback to about 4,300. A break below that 4,300 level would confirm that we are definitely in wave three down and that this is a bearish count. If we were to pull back and hold above 4,328 definitively and start to move higher then I would suggest that the bull count is probably active and we'd switch. But at this point, our work favors the bearish count until that were to occur. Okay, now the next chart is what they call the primary Elliott wave thing. Now, how is that different from the one that you just showed us, Jeff? We're going a shorter period of time, Larry. So this is, we're blowing up the period from March 29th of last year to present and you can see this is kind of like a rounded base formation or people would draw trend lines and say this might be a inverted head and shoulders or a cup and handle or whatever pattern you think you're seeing. But the thing that we're seeing is that we've got a very choppy overlapping advance off of a deep oversold low of 13 and that advance has left multiple gaps, those gaps at least a half a dozen gaps and those gaps are likely to be filled at some point. It's very rare. In fact, there's very few examples of unfilled chart gaps in the historical record prior to March 2020 that March 2020 low is really the oldest significant gap and I still think that will be filled but, you know, we're looking at the possibility that we get one slight new high here off of that minor or minute degree fourth wave which dates, you know, late June. We count five waves in progress one, two, three, four and we haven't quite finished the fifth wave. If we make a slight new high above the July 19th high that will complete the fifth wave of a fifth wave of wave C of wave Y of wave two and that completes the entirety of that second wave advance. Now, where will it stop? No one really knows but I can tell you this we're through the 786 retracement right now which was 4534 the 88.6 percent retracement which is the square root of 786 that comes in at 4667. So it's possible we could get up to that level and if we did we'd be hard pressed to see the market moving beyond it. Okay, let's take a look at your newsletter that you have I think this is really the best value you can find on the street if you want to look at something that gives you some great information and you've got a fabulous track record that goes along with it. We've been publishing this for almost two years in fact the next issue the August issue which comes out August 5th will be our two-year anniversary issue. We're going to do something really special for that but I want to just say that if you like our work this is just a very very small sampling of what you would expect to see in the newsletter newsletter typically features about 25 to 30 charts tends to be about a 20 page document. We go through the big picture macro view of the economy and the market. We talk about you know outside issues like geopolitics and how it could affect the market we talk about our analysis of the markets we talk about our current positioning and recommendations of individual stocks and for those who become upgrade to paid members not only do you get the full newsletter but we also send out weekly notes and get our idea generator lab publication which comes out every Wednesday and that updates our market view as well as provides you with our top actionable trade idea of the week and we're actually expanding that to include some sector work that we do every week for institutional customers it's typically an institutional publication then you also get access to some video content every quarter and special notes that we put out so upgrading to paid is a pretty good value for 12 bucks a month we would highly recommend giving it a try what do you have to lose 12 bucks we've made our clients pretty wealthy over the years and we've been doing this for over 30 years so I don't think we'd still be doing it if we weren't good at it now you definitely your first class act I see a lot of people and you've got some great stuff what does geopolitically looks like in what's going on is it political related or is it war related what is the main more on the geopolitical conflicts around the world we do a deep dive look at the Ukraine and what's happening over there as well as what's going on in the South Pacific which is our primary focus right now we do believe that there is a pretty strong probability that China will invade or at least blockade Taiwan sometime in the next 6 to 12 months I think this has become we've been writing about it for a year and it's starting to become more of a mainstream view amongst big picture global strategist and that to me is the center of the chess board and the world economy is Taiwan because that's where 70% of the world production capacity of semiconductors thanks for joining us Jeff we'll have you on again soon be safe my friend only the pleasure take care 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 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 overall 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 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to realize that General Electric is trading for 114 they don't put a little asterisk there saying that it had a 10 to 1 or whatever that reverse split was but anyway that's neither here nor there but the thing is that I could not find a bullish sign I mean everything that I looked at was a pattern completion or in a sell mode every single of the Dow 30 stocks with the Magnificent 7 some of those are still very very strong NVIDIA up another 10-11 points today we got earnings coming out today for Microsoft and I believe we're going to see a lot of data or Facebook whatever it's called these days so all of those things will be looking how can it not be showing I just posted it I don't know why it cannot be well I don't know what to do now so I'll try it again let's see maybe it just doesn't go if I put it into this format I don't know why that's not working out but let me try it again you'll see here maybe that's why there was no that's where in lies the problem with the static ah it is showing okay you can see it right here it's right at this 78% level it's been here for several days so yeah that had well the static must have been fixed so that's a good thing anyway we're going to have as our guest tomorrow will be Paula Web and of course we have the Federal Reserve working tomorrow they'll be out around 2 o'clock 2.15 and of course that's going to bring a lot of volatility it's like it doesn't need any more with 13 days up in the Dow maybe it'll go for 19 days I don't know what the big longest record is for 19 consecutive up days I don't know the answer to that so anyway that's what I'm seeing here I see just a lot of self-patterns but no bypass live every day in an attitude of gratitude and may God bless