 The following is a presentation of TFNN, The Trader's Edge with Steve Rhodes toll-free at 1-877-927-6648 or internationally at 727-873-7618. The Trader's Edge now Steve Rhodes Hi everyone, Basel Chapman sitting here for Steve Rhodes. I think Steve will be back next week, I'm not sure. In the meantime, we've got this hour down $222 on this Friday the 15th of September, $34,683 yesterday it was up 300 points, now it's down to $226 and it's really important right now as I said to subscribers this winter my opening call, we're going to be watching this because we have been looking at this as a kind of a rectangle formation to the side kind of a sideways trading range arch formation makes another arch formation wasn't sure if it was going to break above the high of $35,000 I think yeah $35,070 on the 31st of August should mention just for those who are new to my work we did go short based on some of the technical tools that I have right here on August the first the the higher was $35,679 that day we went short at the opening and we remain short and one of the things we're also but we're also long from October the Dow and the three times Dow from October but we're also long from March of 2020 in the Dow diamonds so the big picture is that we're looking for higher highs and higher lows over a period of time but in the short term we've got this signal that says fabulous gain from $36,952 high January the first to the $28,660 initially on the big spike and then it kind of went sideways and breaking out to the upside if you look at the S&P chart on the weekly basis it's a little different it actually went to a higher high than comparable percentage gain in the Dow because $48,181 was the high back in January of 2022 $34,91 was the low back in July no it was October it was October of 2022 and this gain all the way to $4,507 on July the 7th that was really good and then it came down look at the data chart came down made this beautiful arch formation with the plum line just off the exact high tested that it went to $4,335 just over the low that was made in June had a good a really good rebound came back down and now it's time to form this H pattern that I always do about the dreaded H where it takes out the left side low kind of watching this closely but the weekly chart did make a beautiful cup handle a cup formation almost it wasn't I can't call it technically break out to the upside in a cup and ladle pattern because it did break out but it was already in leg E and it just stalls so the weekly chart is still looking pretty darn good the technicals are starting to deteriorate the magnies down stochastic down the nine-period moving average is just fabulous it's holding so well and that just says to me I haven't yet got I've got cell modes in all the daily charts of the S&P the Dow the QQQ IWM semiconductor XLK you can just go on and on but the weekly charts have held like a rock this is why I shouldn't say rock is rocks and come down pretty sharp but it's holding really well solidly and you've got this big cup formation in the monthly chart and the technicals are still pretty darn good look at the QQQ so the QQQ is a little bit more vulnerable at this particular point because the semiconductors there are so many semis in it and you can see the semiconductor has a different chart formation that weekly has got this H pattern right here the one that I call the dreaded H that's this one here where you get a sharp pullback and then you get an arch formation that fails at an A or a B peak A or a peak B remember this got nothing to do with A to B with C to D these are peaks and troughs so I label them on the way up A through G uppercase on the way up lowercase on the way down it's at D that other things can happen can't even go to an E or an F look there's a D and then it makes a cup formation barely makes 160 79 and the SMHs goes to 160 117 July the 31st and then oh I should have mentioned just for disclosure purposes we are short from the from the two points of the high the SMHs so look yes that pattern you have this down makes an arch and then if it takes out that left side low you've got to be really careful and look what we've done we've made that straight down move made the arch this is a gray peak A gray because it's under the previous peak so that's an A right there we've got all of next week let's see what happens does it take out 143 35 even even if it's on a closing basis if it just gets there that becomes the H pattern and now it becomes a pattern that you've got to respect and look at the Chadwave inside track propellant zone and that just says anytime you close under 140 in the SMHs in September that's going to be a real problem if it holds that's great and if you look at the apple I've already moved on three steps away from the from the QQQ that I'll show you look at apple there's the dreaded H at a peak A and it's going to turn down and maybe take out that left side low of 172 this is the 171 96 watching it closely and you've got a dojo candle peak D maybe it's an alternative count but a D at least in the monthly chart there's just a period of of rest that different cycles go through in the different sectors let's go back to the QQQ and now let's look at the upside upside QQQ has to close above this downtrend let's see this little mini channel right here it's called the falling axe formation lower lower highs and much lower lows and all of a sudden it stalls and tries to make a cup formation to take out the high that's this pattern right here uh not that pattern this is pattern right here right here look there it is I drew it in we haven't taken it out this is where you go to a D or an E but you start to make lower highs and much low lows and then it turns around makes a cup formation turns around to tries to make a cup formation there it is a large cup formation and we'll see if it's able to hold but in the meantime that's a that's a pattern that says if the if the QQQ what's today today's the 15th the next week takes us through to the 22nd and this is options exploration today so anything can happen a little later on they might move the market up 200 points you never know but this says to me yesterday was options exploration action today's just the result of something that shouldn't have been that's what I'm thinking so the 22nd so we've got two full weeks of September next week in the following week if at any point in the next two weeks the estimators close above 382.50 that's a different kettle of fish as we say in the business in the fish business so that said um yeah so I had questions before could I look at I wanted to show you this yes gold geez see I didn't even touch silver that was so silly in my show I was so busy with everything else gold is up 17 it's taken out about three four sessions on the left side going down but if you look at the weekly chart it's this it needs a lot more to improve the chart I'm not saying it can't be done I'm saying what has to be done to improve the chart I'll be back in a moment thousand two hundred and three is that good two hundred and five yeah I'll be right there 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 forex report teddy keg stat 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 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 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 basal chapman creator of the trading methodology known as the chapman wave the chapman wave up down sequence gives you an edge and identifying price turns finding the peaks and valleys in stock prices get the opening call newsletter by basal chapman in 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 steve road 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 roads 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 toll-free at 1-877-927-6648 internationally at 727-873-7618 so let me just finish my thoughts there's a thousand Japanese sitting in on an only steve roads but he'll be back but need time back in the ranch um we're looking at gold having a very strong we've up 17 it's done this before and then it gives it back but this is really the issue is this going to become a cup formation or more like a ball formation because it's being stretched out in the uh let's go to this right yet in the weekly chart because look the nine period moving average is still under the 14 period moving you see a little black line there and a little pink line the magti is flattening out but the histogram hasn't even come close to turning up for unbalanced volumes okay the stochastic is down at 27 that's no strength at all in the weekly chart monthly chart doesn't look very much better but that nine is above the 14 and that is a good sign looking at that's why i've been saying i'm thinking a little later on in the year there could be a really strong move maybe it's now i'm not i just something's not quite right and if you look at the silver si good move up to the up 2.24 percent up 51 cents at 2351 there again the nine period is is very weak under the 14 it's way below the 23.89 200 period exponential moving average it did make a peak did doji did the one-to-one to the upside of the falling ax formation in the chapter wave methodology so this is just a give back on almost all the gains in fact all the gains because it went to a lower load and realized that that's actually a d right there so most importantly what we're looking at is there's a little ictus in the unbalanced volume says yeah silver can bounce but that weekly chart so far is just saying a balance and then we'll see if it has the strength to follow through that's really what i'm talking about i'm not talking about can go bounce yeah of course it can it's doing it right now look at the gdx the gdx is at a beautiful move here again it's like almost like the down it's like the lowercase h goes to a lowercase m within the rectangle formation with a lot of resistance at 30.16 fabulous move up to up 2.46 percent mac d here is good the nine period moving average actually today just flip positive that's a good sign so if the gold miners and i'd love to see gold miners i prefer to see the gold miners lead that to me is a good sign so let's see what happens in slv is the equivalent of this is the that's the gold mines the slv is the ishia silver trust which is like the g is like the gld so this is gapped up with an iron reversal iron reversal seriously when you've got anything that trades overseas at all first and then because what happens we just pick it up and there's a gap but this weekly chart is a little there's a night a better consolidation and we'll see whether or not well this is make it simple if the the slv trading in 20 on 29 at any point next week can even touch 21 90s i'd say that's a pretty decent short-term sign if the gdx trading at uh so you keep losing and going going back into that back chart there um if the gdx can close above 30.33 30 16 is the 200 period moving average can close above 30.30 for about two sessions that's a good sign and i'm not saying it can't happen well that's anticipating that the dollar is going to stall here and it certainly could stall but it still looks really good on the daily the weekly looks like it's just in the rectangle formation going to the top of the rectangle formation but let's put it together with the eurusd and yes i will get to those questions that i had i'll get to it we've got time so the big plunge in the euro makes a new low way below the 200 period moving average nine period moving average under the 14 i had this long-term trend line in place and it took that was to that level there and let me just correct that see where it takes us to there and to there yeah so it's hitting that line this is there gsash c goes to a d always not always most of the time and that did go to the d and that's usually where you can start to see some kind of a balance but look what happened the euro is outside the the rectangle so the rectangle outside the channel line with the channel we've inside track propellant zone becoming a repellant zone look at the time sequence between these troughs so this is it says to me euro is still very weak let's put it together with usd jpy usd jpy type it in not on the chart type it in in the little rectangle there there we go usd jpy look at that gsash c invariably goes to a d and we just did that today d and it's only barely high so this says yeah maybe we started to get a little tired in the dollar and the euro and maybe that's why gold is anticipating something if it is then those levels i spoke about just a moment ago will be reached very quickly but i'm still saying that in the bigger context those semiconductors don't ignore them i just wanted to show you usd what was a pln that made a peak e and it's holding very nicely and it did a cup formation a lopsided cup formation in the week it is a us dollar polish zloty and let's see the usd c ad so the canadian dollar made a peak f top in the in the monthly chart down channel resistance or should i say in the triangle the travel wave inside track i'm not going to put it inside track repellent line just a bit of a pullback weekly chart pulling back as well all right enough with that i wanted to go to just quickly high grade cop i was asked about the high grade cop is just stalling tgb i don't know if it was news or anything like that it was really unusual to see to sake of mine suddenly spiked like that it doesn't every once in a while and then it kind of gives it back we'll see if it gives it back now let me go to the questions so got the question let's go start off axp was the first one that i remember i saw so let me just go to the axp is american express right on the 200-period moving average i mentioned this the other day i said in my video if i did that i did for subscribers um last weekend i always do a video giving a recap and a prognosis of what you expect in the next month and we go through all the the stocks and positions that we have etc well as far as i'm concerned um if you go to v which is there you go visa visas uh just not very far from its all-time high in fact uh it tested its all-time high to almost to the penny just the other day and i was pointing out that in every sector i can name you three stocks and they are all doing different things look az o i'm moving along again huh az o is um order zone kind of near its all-time high aap is um is advanced order parts in look at that smash to the downside and what was az orly orl y in every sector i can show you the same thing that just look at this this one's very close as well to its all-time high so let's go back so visa very close to all-time high master card actually did make an all-time high even today it's at the all-time high 418 um and then you get american express they all do something different but they credit cards nevertheless so this is a nice move to the upside and i seem to subscribe this morning is the xlf holding quite nicely here even though your rates are moving up like this isn't telling us something and i'll be back so we're looking at american express and you'll figure out when i return that's okay i'll be right back the gold report as a precious metal gold is still king it continues to hold the most effective safe haven and hedging properties across the global major trading hubs of the london otc market the us futures market and the shanghai gold exchange the gold report 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 as well as 25 different mining equities 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 sharpening your skills as an investor is like getting better at playing a musical 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we're back now the captain's den you can see the roads and how hard to bring this to show you this is looking at this beautiful symmetry in this cup formation here in the e-mini what needs to happen is it needs to get right out of this bar 10-52 up to the 45-22 level and then maybe we can start talking about options exploration Friday where all crazy things happen and then you can even look at 45-30 I'm not going there right now I'm just saying let's see what happens this shit it's really over look at this 10-minute chart just red bars all the way down it's kind of oversold 45-18 would be the first resistance that I'd be looking at all right let's get back American Express look how important this 200 feet moving average has been and look what happens gets to peak e peak e peak d peak d peak e and every time it gets there it has some kind of a pullback so we're watching this very closely here because it's a very quick and very small peak a to beat and then peak c higher high peak d and then high high peak d yesterday there's a daily chart mag d is okay so cast is pretty good at 84 percent nine's over the 14 but we've seen this the story before and the on balance volumes kind of weak and the regular strength is actually pretty good at about 60 percent so I'm looking at this and I said to subscribers this morning on these is the XLF on the the financials telling us that maybe there is some strength here they they learned how to use the the interest rates to in terms of how to position themselves to make it profits etc well if you look at this XLF the 9p moving over to the 14 the weekly chart and the daily not yet the monthly says you know it's more like a sideways action so when I look at American Express as part of that part of the financial ETF so when I look at American Express I like this legs leg A to the upside and the 9p moving average today has actually crossed to an L that means that particular index only is positive the stochastic now at 61 percent magnies good I don't like to see these sudden big spikes and to see them give it up right away so if you are long I would just say I'd wait I don't know if you wanted to add to it or anything like that just give it about three to four sessions I need that to see because if look here's the 200 period moving average it's over it today just over it that's it's been a support level that failed immediately is it going to be a a pattern that says I'm going to pierce it right away and go right up I always uppercase on the way up so that should be an uppercase and it's great because I haven't got any buy signal to buy mode yet or anything like that so there's just an initial pop to the upside weekly chart says just stuck in a range monthly chart says yeah not too much so I like what's happening right now but it needs follow through and it needs to make an A then a peak A pull back and then a new leg be above that A and then I'll say to you you know what it's trying to find a base of support now I think looking out a couple of weeks I can see a much better rally but at this particular point it's just another one of those spikes to the upside that says I'm trying I'm trying I'm trying I think I can I think I can but actually I have to see if it can or can't so at this point nice you got it in you're okay but I would not add to it I'd have to wait a little bit that's American Express next question was let me go in order over here Lulu Lulu this is Lulu 11 Athletica Inc had a big big move to the upside gapped on that news earnings etc that was an F slash A I think it's an F and it's giving back a huge chunk and it's a peak D in the weekly chart and a leg D in the month I think this has got a problem it's about to fill in the gap that that day of the gap that was was the first of September or yep first of September my eye says that the 200 period moving average is way too low 359 to even discuss it at this point but the three uh right here the black 14 period moving average in the weekly chart of 370 now 381 to 379 I think that's going to be really important to hold a closed next week under 379 says uh oh it's in that category that says starting to feel the pinches as consumers stop buying the extra I mean Lulu 11 is more expensive say than Target as far as I can tell so I think that's a problem so yeah just be careful I don't know where where if you're long or short if you're short just make your stop 395 for now 384 you can you can make it today's 388 make it 389 and then lower keep that as a core and lower have a two-part lowered stop one is a trading stop of you can name the points three points and the other is if it hits the 50 period moving average of uh right there 382 for money management I would definitely take something off there next question is CX this is C max core now this is the thing that I the reason why someone asked me over there you've had such fantastic positions especially over the years but you tend to take off so that we don't have the full position when it makes this final top what why is that and the reason is remember I run a newsletter if I was just if I was in the real gambling aspect of it I just say to you know what you're in UEC double double it you got 100 make it 200 you got a 200 make it 400 and as it gets to highs we got this incredible gain and then you take off everything or whatever you want what happens if on the way it suddenly and sometimes they do that it just has there's this huge gap down I have a subscriber now that that's had a fantastic winning position who'd maybe have lost and has lost a chunk of his capital I don't like that I don't do that so within the context of CSX look it made that peak did made a peak e pulls back walks the nine period exponential moving average makes the idea then plummets and it goes from 848 I think it was 846 on the 20 30th of august today is trading at 677 you know I don't want to now on the way up we've had this before we didn't have it in this particular instance I'd like to take little tads off we're taking a little bit off you've got your big core position but you're taking a little bit off the money management and then when it turns into a cell signal like that candle there then you can lighten up a lot I mean we have a stock that was we bought a 21 like I'll show you what it is some symbolic end-to-end robotics warehouse automation it's a 3189 down 76 we bought it in 21 it hits 64 we've been taking we've got a little bit left and now we've got a core position left at 21 and it's gone to the it's going to test this 200 period moving average here of 21 got cut more than cut in half since the high if we didn't take that off and we were just holding I know someone who's had it all the way from I think the 17s and when it went to 64 and maybe just took a little bit off but it's still fabulous but wow I mean you've given back you know you've just given back so much and look here's the Eiffel Tower in the weekly chart do the strap to pgf cabin we've inverted roman candle right there well took out the low three times in a row not good so that's the reason why so let me just go back to cx as we go to the break yeah I think it's going to test the 658 maybe get close to the load that was made on the 6th of july of 6.55 it's a 6.7 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 basal 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 and stock prices get the opening call newsletter by basal chapman in 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 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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 ntsx under the symbol vgz so first came in oracle could i have a little short tip oracle it looks like it's good travel uh into the clothes yes oh you're talking about white lightning um that would be an option straight into the clothes so let me just do this you oh so you wanted the uh you wanted the short tip um that's not quite what i wanted to do right here okay so um sure look at this 127 54 back in june was the high uh for oracle comes down makes an arch formation it makes it makes the arch formation right here fails at a peak b i think it is and retest the left side low and takes it out makes a new low in august and then it has a fabulous move goes to peak a peak b peak c peak d the last one was a peak e at 127 54 this goes to i i've been talking about this for over a year and a half it is unbelievable how many charts make almost exactly why do we watch the tlt for the 91 area how many charts get to um within pennies we saw that already three times today i don't even remember what they are because i've looked at so many of the charts within pennies of the left side high 127 42 was the high five sessions ago then it comes out with news gaps down has a balance and now it's pulling back uh down 97 112.69 i would say i haven't done i i i've just done this a little quickly so i haven't been able to do it as fully as i would like but i'm going to say that in the week off towards the end of september so in other words within the next two weeks i think it's going to test this whole area uh with the low of 104.84 back in june i was trading at 112.65 right now so that's what i'm looking at now if you want to do the inch a day let's do this because now you know we've done all the selling on the downside there's your peak c and the and there's another peak c c 1 c 2 it's not that much they're buying coming in just yet let's go to is that oracle yeah or cl so i'm not sure which way let's not know which way you're going to do white lighting at this particular point let's just do the chart and say what are we looking at in terms of time so i've got the oh look at this so i'll do this here we go here's the low identify the lowest low bar start counting the chaplain wave and you expect at a peak d other things can happen so you'll go a b c c that's still a c right there look that high was 111 80 111 91 okay so then it goes to a d and it's stochastic and and the magnetic everything's still very strong so what did i say over here yeah d e is that an f no just an e okay comes back down now you start a new by signal and it goes a b c kind of stalls finally it gets to a d here we are a b b b b b b yeah so that's a high of 114.45 we're looking at oracle on a 10 minute chart 145 46 that was 45 there's your d always looking for a d right there there's your d and it pulls back and then what happens is it goes into a sideways consolidation i wish i could get the chart a little bit bigger maybe i can do this there that's what i wanted to see that's what i should have done before and now what we've got is a b what happened was that c did i miss a c no i see that was a c right there there was one penny higher there it is and there's your d okay now it pulls back now here's the cup formation that i was talking about before where you go to almost the exact high but the technicals are way weaker look at this pink right there and plink right there we can even go plink right there again as well look at this the library moving average is good but the magnet is way down and deflects lower this stochastic is way down below 80 and the deflects low unbalanced volume makes that high to the penny and then starts to come down that high had weak technicals all the way around so what i would do is i do this right here and i'd say i'd go to that particular low right there no i'd have to go to that candle nah this is not quite working the way i like it yeah that's where i'd go that i always choose a particular candle if there's not a trough or or a peak that just stands out as saying use me use me all right so looking at well that's going to be too short of time you're looking at four o'clock this afternoon so let me just do this and i'll finish it up in a moment i'm actually not going to tell you anything i found that white lightning as you do it you've got to be doing the analysis so if you do it now it's got to be done for the very short term so that you can get your profits as quickly as possible so all i'm saying to you is that a hundred and twelve point fifty eight the technicals week but the stochastic's just trying its best in the ten minute and the one minute to find support i didn't think it's going to so the tape the target would be right here and would be by by one o'clock yeah by one o'clock it would hit 111 82 i don't know how you do it for on a purely technical basis with options right now at this particular point because the options as i can tell it are the premium for the short side must be big enough that it really has to go to 111 30 for you to really make money so that's what i'm looking at now the market you see it had this attempt to rally just a short while ago in a stall that tells you that so far the buyers are not finding the traction so you've got to be careful and any time on a day like this you could get a flip to the upside without just suddenly running a hundred and it has to be running 20 you could do that very easily but it's it's very tricky for eight on the 30 minute es okay okay so now the question came in about the tlt so the tlt bonds right now you see the way it's just persistently the nine period moving average is still weak if i do the tbt it hasn't yet taken out the high of 36.44 it's on its way and that just tells me that in this particular pattern it is not unusual to tag this is what i call it's first of all i draw in a rectangle to say it's the large rectangle and i have two techniques one is for a narrow rectangle others for the large the wide rectangle the wide one gets a lopsided cup formation i call it the gravy cup so if you took it from here to up there it'd be all lopsided my eye doesn't like that at all so just for my eye's sake i wish i'd have found it kind of a midpoint for the cup formation and i'll find it on this candidate right here and i'll say okay now i can get i can get the cup formation right there and it usually goes if it makes higher highs and higher lows it almost tags the previous high it stops either right at right under or just above and then you've got to be careful but it's usually at a pd if you're looking for potential trading setups in the stock market then rocket equities and options report is a newsletter you should try tamio brian 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 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 and stock prices get the opening call newsletter 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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 seven 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 one dollar for the year there's no cash 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 yeah so i had a question a little bit of a question right um long apple calls against the law of the day with like 175 175 79 trading at 174 87 right now this is a little bit different you see on the 815 that's today look apple had a big spike at the open and then it had a huge red candle and it made a dreaded age pattern but it's successful so far it's holding the low that says to me that on apple the selling pressure has already been done so if there's any kind of sudden upside move that we're going going towards targeting at least a bounce so that's a little the chart is a little bit different it's a chart that that says to me here your risk is you actually know what your risk is and you know where you're wrong but once again this is uh not not i'm i'm done with that i used to do that and i used to do it for earnings uh with options and then i just found that you know for the times that you're successful the times that you were unsuccessful and and just feel terrible because it was just such a waste of money you get the option and within one within seconds you're wrong or you're right and if you're wrong you have to wait all night to see maybe it'll change maybe it'll change when the they do the uh when they do their report online whatever it is so this is already gone to a d and now you've got a cell signal and a cell mode in the 10-minute chart but i like this it's a much different pattern because it's already done all the action to the selling on the selling side and it's making slightly higher highs but it's also making slightly lower lows right up until this big spike so this is the low bar right here i just for the moment i don't always put the up arrow when i haven't got any real confirmation of a buy mode but i'm putting it in here just to show you this is the low of the day so now what you want to look at is each peak it's counted so that's peak gray peak a gray peak b pulls back gray peak a break oh we're done b so this is the one that 200 people moving averages 175 10 it has to get there by about uh 1240 if it doesn't get me that's a problem hey have a wonderful rest of the weekend and as i said before to our jewish subscribers happy new year and a happy happy pass over um get two chances in new year that's nice have a great weekend everyone i'll do my