 FNN, the Tiger Technician Hour with your host, Hazel Chapman, call now, toll-free at 1-877-927-6648. Good morning everyone, Hazel Chapman here on Wednesday, the 5th of October, early edition, this is 8.06, it'll be replayed again at 10.06, my usual time. We're looking at the Dow down 270 at 30,095 in the Dow futures. The Dow futures were at, on Monday morning, 28,635, unlike the cash index, the Friday close in the cash index was lower than on Monday, but Monday meant a new low in all the futures and as a result we saw this two huge candles going from Monday's low of 28,635 to a higher of 30,399 yesterday. That really is one of the biggest two-day rallies we've had, certainly or for low, it's spectacular. Therefore you've got to anticipate some kind of a pullback. However, we had a reading yesterday for Subscribers to an Opening Call, I'd mentioned, that the Trin gauge, this is Richard Arms Short-Trim Trading Index, I've used it for decades now just as numbers, just a certain number. I've noticed that if intraday goes over a certain number, there's a really good chance that there is an oversold reading in the market, overbought reading in the Trin and that within two days the S&P futures should have a really good rally, could even be off for low, but you've got to be prepared for a very good rally and if the Trin is below a certain level then you will see the Dow, the very next session by early morning, usually it's the morning, lately over the last year you've seen some moves in the Dow in the futures market overnight that is so strong that there is a powerful rally and a pullback intraday and it doesn't, it just misses going negative and misses going negative even if it was up 300 points but goes to the worst session part of the day, is that it's still up eight points and then it rallies again into the close, that's a failure because it has to go negative. So in this particular instance we are negative, we're down 277, so it's kind of completed that but this candle that was made, if I go to the Dow cash and that's a little bit more of a clue, that's called the Murabosa candle with Novix or virtually Novix and that usually says to me either you get a small doji candle and then a pullback the next day or you just immediately pull back into the candle and how you come out of it in that particular session is going to be very important, otherwise if you take out yesterday's high in this session that would be very positive. The only other conclusion is that within this particular pattern is there is a monster gap up again, in other words a second day of gap or second bar of gap, we've seen that of takeoffs, you remember the takeoff that was made back in June around about the 17th of June when the low was 29,653, there was a low doji candle and then you had three green bars even though there was a peak A, great peak A, then a huge move up and then what happened is there was a powerful rally into the 31,085 level and the candle reversed and you did not break above that for about two and a half weeks, so a lot of things can happen, if I don't want to go back right now just take my word for it, there are moments that have been over the last few years where you get a Marabosa candle after the reversal candle or for low and then another one the very next session, that's usually tremendously powerful, let me show you a couple of things here, so I'll go through all the numbers, there's no need to rush because this is the market hasn't opened, it's still pre-market, this is still early AM, we've still probably got some news at 8.30 this morning, we've even got Fed today, at least I think there should be some kind of Fed momentum one way or the other, but have a look at this pattern, you go from this big arch right here, arch pattern to a cup formation that fails, continues another arch the dreaded H pattern going to a lower low to the low of the 17th and then a successful arch formation that continues higher, walks the nine-period moving average green line, flips over at that peak F candle in the 34,000 area and then turns pink, the nine goes under the 14-period moving average, look how much work would have to be done for this pink nine-period exponential moving average to turn green by crossing over the black line, the 14-period moving average, there's no question you'd have to start testing the Chathamade inside track repellent zone, now have a look at this, I am going to do it just with a single line, make it a little higher, you see that line, I would love to do this for you, ever since I was hand charting back with pencil and paper, I've loved the synchronicity of bar movement, now look at this, yes look at the pattern, let's change the colors, make this red because this is going down, let's make it red, you've got until the 11th of October to create the number of bars making this sickle type pattern, this is kind of a reversal pattern, going to wards, the Chathamade inside track repellent zone, there is a lot of work to be done to be able to get to that, you've got the MACD was just finally crossed over yesterday, the stochastic which is really weak at 30%, the unbalanced volume did do a little V-shaped pattern at the bottom but it has to see follow through today, otherwise it's going to be assigned, that was not just a one-off spike, off an incredibly oversold condition but there's going to be a lot of work to be done to be able to break into this inside track repellent zone and I'll give you the numbers now, of course it's the climbing zones every day to be lower, today's action says 30,831 to 31,020, is the resistance area, I don't see anything like that today, however let's look at the same thing in the E-mini, I'm using the continuous contract, beautiful, beautiful support level, look at this there was some synchronicity to the bottom but look what's happened, look at those candles that went right into the Chathamade inside track repellent zone, one, two, three, four, five, six and have a look at this, this is the inverse, so I'll do the DOG first, DOG which is one to one short, the Dow, we've been along this since way back over there in the 30 year right there and that area right there, we've taken a little money off and it did make that peak D and pull back very sharply but in the big context this particular pattern says you've broken to the upside and closed above the left side high of 37.52 for so many sessions that that's almost like a magnet that there should be some attempt to try to get back there at some point over the next number of weeks, it doesn't matter if it doesn't but at this particular point we are keeping the core position of the one to one short but have a look at this, this is the inverse of the S&P, this is the SH, it's the same thing, look at that, that also just closed once above the left side high of the 17th of June at 17.20, we went to the 17.29 area yesterday, we're trading at 16.46 right now, so I want to go through a number of things and we'll come back and we'll go through different indices of businesses recorded early, I'll be back. 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Like any endeavor in life, before you decide it's impossible, get some advice from the experts. You might find that it's not so impossible after all. For daily market overviews that give you direction on the key indices, selective stocks and commodities, subscribe to the opening call newsletter at TFNN.com. The opening call newsletter is written by Basil Chapman, creator of the trading methodology known as the Chapman Wave. The Chapman Wave up-down sequence gives you an edge in identifying price turns, finding the peaks and valleys in stock prices. Get the opening call newsletter by Basil Chapman 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. toll free at 1-877-927-6648 internationally at 727-873-7618 Good morning, everyone. Basil Chapman, early edition. We replayed again at my usual time. This is 18 in the morning and we're looking at, I'm showing the SH, which is one-to-one short the S&P, made a peak F-top. The DOG, one-to-one short the down made a peak D-top. We're looking here at the continuous contract of the e-mini and you can see that there's a lot of work to be done. Yes, the MACD just crossed positive. The Stochastic is now at 27%. That's just okay coming off a low in the teams of single digits and the on-balance volume has turned up. The weekly chart still looks very, very weak. That's why it's called the weekly chart. Nah, just joking. Now let's go to the QQQ. QQQ had a very strong powerful move. It's down at 279.62 down 251 and that was a low that was made. I believe, I forgot to update that. The low was 267.10. Let me just change that to at a trough D, 267.10. We're lovely. These are automated. So this is a gray leg. Remember, gray starts off in the chaff wave methodology until we get to a buy signal that's upgraded to a buy mode. Then it says blue and it says what? You're in a buy mode. You should go to at least a D. We haven't got a buy signal yet. Look, there's a W formation in the on-balance volume. Stochastic is pathetic at 13%. The MACD has yet to cross positive, but it was a fabulous, fabulous rally off the low. So two very good candles. But if you look at the weekly chart, it says it's just the start of something. So now let's go through the IWM, the IWM, which was doing better yesterday. That's the Russell 2000. So the IWM has gone to a very strong leg B. All the others are only at A. The IWM has already started to move. And this says to me, we cannot rule out that the small caps in this particular timeframe might start to find buyers. They haven't yet, but what's happened in the monthly chart, we made a peak B. And in the odd formation that I call the dreaded age, we have not taken out that low. That was made in 162.42 back in June. That's really very important. And it's saying there is some strength, pockets of strength. And that's all I can say. Now, what's really important is that I'll just do gold right now. Gold is pulling back some. It's down 11 at 1719. Fabulous single leg A. I should change that still to gray. It hasn't been changed to blue. So it means that this is just the start of an up move. We've got the MACD, very strong stochastics running nicely at 70%. It needs to get over 80% for me to get a buy signal in the stochastic. That's not on the instrument we're watching. That's just on the stochastic confirmed with the MACD. And then we need to see the price start to move higher. And then I can get a buy mode. Probably I have to wait for a leg B before I can say that gold is actually in a buy mode. The silver lead, and my fear always is that silver acts pearly, gold acts well, then silver catches up, then silver leads, and then as silver is leading, they're both pulled back. So I'm watching this very closely. We have to put this together. Silver's down. Continuous contracted down 74 cents at 20.35 at a spectacular move, just missed the 200 period moving average. But I do have to call it a Pd and it's pulling back. We had a silver stoch. We have a silver stoch, which had a spectacular move. And we took really good profits with 20% and 12% off. But we still have the core position, but it pulled back very sharply yesterday. And my concern is that gold is going to start to lead again, rather than silver. But we'll be watching this closely. Let's go to the dollar, dxy. Big move up today, up 95 cents at 111.02. I say big move up because the candle of yesterday suggested that if we took out yesterday's low, we could go straight down to the 50 period exponential moving average. This is a Pd in the Chapman wave methodology. I have to wait for the day before I can put a down arrow in, but it's very close to a sell seat. Well, I should actually know. I'll do that at the end of the day, but I have to follow it. But I'll probably put it down there to say that dollar daily is going to sell signal. Weekly has got a peak F, but it's still very strong. And leg C in the monthly chart says there should still be in the Chapman wave methodology in 2022. There should still be a leg D. That would be probably when we get the next bout of selling in the general market where the dollar starts to climb again. When that is, we don't know. And now we're looking at the EURUSD. That's the euro dollar currency period down sharply at 0.9914 just under par. It almost didn't hit par yesterday. 0.9994. So it just missed it. And you can see the weekly chart says, ah, we've seen this picture before, but we haven't seen it with a mag D. Actually doesn't deflect lower, but actually crosses positive. Circassians very weak, but that mag D, the moving average convergence divergence, if it actually does turn positive, you could see a challenge of the 14 period exponential moving average in the weekly to take it to 1.006. A couple of things that we want to do right now is I didn't do this. I wanted to wait just a little bit. I wanted to see if there's some ready attempt off the lows that were made earlier this morning. So far, not really prices are down at the lows. So the VIX index is up 0.39. Only up 0.39 at 29.46. That is a big move off the peak D at 34. Remember chapter where peak D is where other things can happen. It can go higher, but that's where you got to raise your foot off the accelerator momentarily and hover over the break. Yellow light flashes 34.88 at a peak D. It pulls back from the 34.88 level to yesterday's low of 28.56. It's up almost a dollar at 29.48. I'm watching this very closely. Why? Because for weeks now we've been talking about the chaff weight inside check repellent zone in the weekly chart. 38.94 back in January, a point lower at 37.79 in February, a point lower at 36.64 in May, a point a little more than a point lower in June, and pulls all the way back underneath the chaff weight inside track. Pro repellent zone then quickly pops back in. And what does it do? It pushes up to 34.88 a little less than a point away from the June high. And now it's pulling back. So this inside track repellent zone. Remember I like to do this little mini channel there. We went to the mini channel at the bottom. Let me just draw this in here to say if at any point the VIX, the volatility index on a weekly basis tests this inside track starting at 25.28 to 24.14, and it's rising. So that price will change a little bit at any stage in October. That'll be spectacular for the market because then the Dow should be at least 1500 points higher and the S&P certainly nearly 200 points higher. So we'll see what happens then. That's just anticipating what happens from these lines. But being repelled, the week is hardly begun. I mean this is like not even mid week yet. So we've got to wait for Fridays close to see where the volatility index closes. Normally when it spikes above and touches the green line that's the outer inside track repellent zone. If it closes sharply below, it invariably goes really powerfully down from the pink line and closes the week. But this is, look at this big red candle we've been above and below. We're going to be watching this very closely. I'll be back in a moment. This is the early edition of the opening court. The opening court is my daily newsletter. But this is the early edition of the type of petitions hour. I'll be back in a moment and that will be eight good news that's coming across the wire. 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That is quite something. So you can understand there was an exhaustion sell-off and now there's an exhaustion rallying buying spree. So some kind of digestive phase today would just be a very normal thing. But for me, this is very important, talking pattern-wise. Remember I said that a really powerful pattern is if you get these two gaps, sometimes you even get three gaps with like a Mirabosa candle with no wicks, big green candle, or on the way down, it's a red candle. That's kind of what you want to see if you're thinking this is the major, a really serious 2022, the bottom. I don't think it is. I think it's a bottom again. There are a series of these and that's why I've been saying I don't think we're looking at a crash scenario. What I'm thinking is we keep making lower lows and lower highs and as we get more and more oversold so that the rebounds need to start to include stocks like a Shopify which got hammered 90% down or something from 176 down to 26 the other day had a spectacular session yesterday pulling back a little bit today. But you can't have a single green candle like this. You have to have these stocks that were just, let me just even look at DocuSign, which what did that do? DocuSign is struggling, struggling. So they're just a couple of stocks that have been decimated to the downside that need to show signs, at least for me and perhaps Shopify is maybe in one of the areas, we don't have it, but this is one of the areas that says if in fact the ones that were fantastic going to the highs in 2021 and were the worst coming back to this Eiffel Tower, it's inverted, it's an arch formation, looks like an Eiffel Tower straight up and straight down. If they can start to show some kind of sign of strength, that's going to be very important. Within the context of the XLF and I spoke about this yesterday, that was a fabulous move in the end. It didn't look like an intraday because it was, yes it was an iron reversal potential, but I love it, but it's a fabulous move. That doesn't mean to say that that is the move in the XLF and that now is clear sailing because the financial S&P select financial spider fund is going to scream to the 34.64 level of the 200 period moving average, but it is a fabulous takeoff. It had this cluster formation and just like the IWM this is in leg B. It means a little bit more mature and I'm still calling it gray, I won't change the color just yet, but the MACD hasn't crossed positive yet. It's very close. So there are a lot of signs that say for an intermediate term, more than just a short-term balance, but probably a rally. We are seeing all the signs that are there and what does it say? It says because the XLF did not take out its left side low of June, which was at 29 something. Here we go, this left side low of June right there, island reversal, doji candle 30, oh 30.17 was July. In July, this was in early mid-July and this last move down was at 30.12. Oh, I now need to check it out. 30.27. Wait a minute, let me just pull this across. Oh, of course we're going back even further. Yes. Okay, so in this particular instance, we did go underneath in the arch formation, left side, right side. This is a bar symmetry, but it didn't use the plum line. It used a different plum line to get there. It used a doji candle right there. We went under it, closed above it. So that says, because you did go under it, that your resistance is below the major high that was made at peak D on the 16th of August of 35.97. But it can go to either a candle or a gap or some kind of a moving average resistance. And it says the 50-period moving average is at 32.79. And then you've got this left side high of 34.08 on the 19th. So yes, it could go there and how it handles that particular resistance is good, but it probably will not go above that peak D that was made back in August. So this is a good sign at least that the financials are attempting to find some kind of a low here. SMAs, that's the next one. SMAs are down $1.96 right now pre-market at 198. They went off the low of 185.11 made on Monday. That was really a fabulous move to the upside. It's done this before and then failed. So we're going to be watching this very closely because 200.61 was the high yesterday. If it's able to break above that by Thursday or Friday, that'll be a good sign. That'll help the weekly chart because that magnitude is much higher now than it was back at the low in July. And the stochastic's a little bit better than it was. And the unbalanced one also is just fractionally higher. But to get the pink nine-period moving average in the daily to cross positive and turn green, you'd have to go to the 50-period moving average of 211. So there's a lot of work to be done. But I like the way that the MACD has flattened out and now is trying to turn positive. It just crossed positive yesterday. And that says to me, as a short-term balance, it's really important that the semiconductors, I'm not sure they can lead the way, but they at least are moving higher with the market if the market continues and then perhaps lead the way. Because if it can take out the high of the 21st of September, this is the SMH market vectors semiconductor ETF, 209.37 was the high on September 21st. If it can close above that in the next week, that'll be a really good size. Hey, the low that was made in October in the futures and the low that was made in the semiconductor index in September on the 30th and Friday could see an October, look at this, an October rally that makes the September low a low of at least import importance right now. And that's going to be important. So what we're looking at is I want the semis to rally. I want the banks to rally. I want the VIX index to be pulling back. The TLT is down 70 cents at 102.81. That's still an irritation to me. If you look at this monthly chart, we've gone to the inside track propellant zone. I want to see TNX.X. I want to see the yields in the 10-year yield pull back sharply. It has got a peak F. I should put that. It could be an alternate count. I'm calling it an F for now. An alternate count G in the actually, it's all I can call it right now in the weekly chart and a D in the monthly. And it says there are a lot of, the 9-point moving average is still way above the 14. That says that there's still internal strength in bonds. It's in the 10-year yield. In other words, the TLT, that's the 30-year, that's the 20-year, I share strategy bond ETF, needs to travel into the firm on feet. At some point in the first two weeks of our program, I would see 109 hits so that yields can be pulling back. That's a big ask. You might think that if you want to be successful at trading in the stock market, you're going to need a crystal ball. After all, it's impossible to predict the future, right? Like any endeavor in life, before you decide it's impossible, get some advice from the experts. You might find that it's not so impossible after all for daily market overviews that give you direction on the key indices, selective stocks, and commodities. Subscribe to the opening call newsletter at TFNN.com. The opening call newsletter is written by Basil Chapman, creator of the trading methodology known as the Chapman Wave. 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Moving average has been the repellent zone in the one-minute chart. It just hasn't been able to close above it. If at any point it can push above 3, 7, 7, 7 and hold there and start to trade above that for 10 or more minutes, that'll say great. Now it's got a little bit of impetus to get back upside. But most importantly, after the spectacular move yesterday, you just got to expect some kind of a digestive phase. Maybe it lost part of the morning. Maybe it goes all the way through into tomorrow morning. We'll see what happens here. So in the video I was asked about in the video, you see this Chapman Wave inside track, propelent zone, the declining trend line little mini channel and it bounced off it. That's a good sign. It's pulled back today so far. It's down to $1.67 and $1.30. It did go to the $1.30 yesterday. Most importantly, it needs to close first of all above the high of the 21st of September at $1.40.31 and then very quickly. It can't take time. If it does it once, it has to very quickly go to the 12th of September high of $1.45, $1.47. So we're talking about 13 points from here. That's a really big ask in a stock. It had a little bit of a pullback from the $3.40 down to the $1.19, $1.20 area. And you can see the weekly chart. Yes, it's attempting to turn around, but there's a lot of work to be done. So that's NVIDIA as part of the semiconductor area. A couple of things that I want to look at here to see what's happening. There's gold done anything. Yep, it's still down nearly 12. Silver is down 3.76 percent, down 0.79 at a spectacular move from the low in the low 18 area. Spikes all the way up to 21 and now it's down at the 20.29 area. I'm watching this very closely. Now, a high grade copper question came in. High grade copper is in the lower area. It did have a fabulous rally off the low, but it's still in this area that says to me, if you put it together with wood, the iShares Global Timber and Forestry ETF, just coming off the low like this, that also says to me that internationally there's a lot of weakness all around the world based on the iShares Global Timber and Forestry ETF wood is the symbol. And if you put it together with high grade copper, which is also international type in the long place, which is also an international, at least suggestion of international economic activity. And we're looking at that coming off a low at 3.24ish area up at 346. But if you look at the weekly chart, it's just the arch formation. So yeah, this is what I'm really looking at here and a couple of questions. How about Amazon? Yep. Amazon spoke about it yesterday. It had a very nice bounce to the upside. It's down $1.79, $119.30 pre-market. Amazon, I think is stuck in a range. And so far, the whole 105 to 100 area has been tremendous support. If it takes out 100 in October, that's really negative. But I think it could bounce to the 122, 130 area. In the long term, the question came up, is this now the time you said nibble wind was in about 135? Just only put your foot in the water to get a feel, just like a couple of shares or something so that you can get a sense of what it does. That's not your real entry. I think the real entry, so at 119, what I would say is if you have nibbles at that 135 area, you could do a little nibbling right here at 119, but this one has to have a stop of about four points. So 114 would be the stop and you would nibble it here. If it starts to move by Friday into Monday of next week, it is at 121 right now. If it is, so 119 right now, if it is very close to 123 to 125, that'll create a cup formation and that'll say, you know what, it can go all the way to 135, the 100 period exponential moving average. But I don't think this is not the big buy on Amazon yet, but as a trade, yeah, I could say you could have a little nibble there. A question came in. I had it yesterday, if I could, oh, IYT, no, it was Jets. I'd mentioned Jets, which was the U.S. Global Jets ETF, had a spectacular session going from the low of Monday around about 14.70s to a high yesterday 16, I don't think it's 1632, but I mean, that's a spectacular percentage move in one day. 16.30, 16.12, no, no, no. Did you read that correctly? 16.32, pulling back a little bit at 16.09, this is important. If we can see the U.S. Global Jets ETF, that's the ETF of all the the airline companies. If we can go towards the Chapman-Web Insight Track Repellant Zone in the 16.90 area, and they can do it by this, maybe not by Friday, but early this coming week, by Monday of next week, I would say that that's a very good sign. If it fails and it takes out 15.75 anytime between now and Tuesday, a week from yesterday, that'll be very negative. So there's something I wanted to do, wrote it down, wrote it down, I'll get it. Oh, XLP, remember I spoke about the defensive area, defensive area came into the Chapman-Web Insight Track support level, and it had a good rally yesterday, but it's saying to me that just in this interim period, if the select consumer spider staples S&P fund, it starts to lag. In other words, had a very good move, but if it starts to lag here and you start to see something like the SLX, whoa, look at that. This is the steel sector, this is the Van Agh Vector Steel ETF, which is trading at 52.85 at the close yesterday. It had a lower 40, the believable 46.55, and that was on the 26th last week. And here it is, six sessions and it powers up. I love this. This is a really nice looking chart right now. That's a good sign, the weekly chart says, ah, yeah, we've seen this before, but actually what's different is that the MACD cross-pository is stochastic, ready to 33%. I would have preferred 38%. 33 is okay, but look at the on-balance volume. And it's saying that if you exclude, well, I like to do it from the top. I can't, so I'm going to have to do it from this one. If you look at this shorter term trading, I'm going to take it from there. That's all there is to it. It says that if the trend line resistance at 54 is taken out, then 55, 34, the 200 period moving average in the daily chart could be hit. This is a very good sign. And this is the reason why we went long first thing Monday morning in the Dow. And we're trying to add, we've just added to that position, but I'm still very, very selective on the upside. There's one particular position. I don't know if we've gotten, I can't do it because I'm in the middle of the show, but let's see, that could be Wednesday. I don't know if we got this particular position. I think we might have, and that could be an aggressive long in an aggressively weak area that should turn around and have a pretty sharp, you know, I think of this as gush, you know, you know, what is that oil? What was years ago with Paul Newman? Was that movie with the oil and the oil just spouts up and you can't stop at the gush? Well, I'm thinking that if there is a gush and by the end of the day, the Dow and the S&P and the Qs and the IWM actually have a pretty decent rally off the lows that are made earlier this morning, we could be seeing this gush to the upside. And at this particular point, that would be really important because yesterday was a spectacular move. We've used up a lot of that upside energy. I'll be back. If you want to take advantage of this sector, now is the time to subscribe to my Gold Report. The Gold Report is a comprehensive look at the metal sector as well as the markets that move gold, which is the currency and bond markets. New subscribers get a 30-day money back guarantee so you have nothing to lose. Every Monday morning, I publish the Gold Report with coverage of gold, silver, bonds, the XAU, HUI, GDX, as well as more than 30 different mining equities. To see for yourself the types of profitable trades that are recommended within the Gold Report, sign up now by visiting TFNN.com. Don't miss out on the next great gold trade. Sign up today. 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. Are you looking for a way to consistently add winning trades to your portfolio? 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I'm going to see in this last section a segment before we get to nine o'clock and this will be of course replayed at 10 o'clock so of course that'll be going to 11 o'clock at nine o'clock we have Tom O'Brien at nine o' six we have Tom O'Brien for the Market Kickoff Show and I believe also today oh that should be very interesting also has a great interview coming up so we're also looking at 11 if it's 11 o'clock that you're listening to this then you can Steve Rhodes great programming here for the rest of the day what am I looking for I'm looking for the VIX index to buy the buy about 130 this afternoon if the Dow instead of being down minus 160 or something like that is actually only down minus 40 to minus 50 you can start to see some kind of rally in the VIX index instead of being up at the 2990 or even 30 level starts to pull back and gets back under 29 that'll be a good sign to say maybe Thursday we get a nice follow through to the upside and the other thing that we're looking at right now is that I want to see the SMH as the semiconductors trading at 197.62 right now down 234 for a really good gap up there yesterday actually start to improve by day's end I want to see these things I want to see I want to see also that within the context of the XLF that's the financials they're holding very well 3196 right now I'd love to see it back at about 32.15 and that's going to say there's rotation going on here that says that the extremely oversold areas are starting to find some support and in this pullback they are starting to generate a little bit of buying interest if everything is just horrible and we're looking at the Dow down 380 or more at after 130 that's not a good sign at least for the day but you can't expect some kind of a decent give back after a fantastic two days and we'll see what happens so with that say we're just about to wrap it up remember this is the early the early edition and they'll be replayed again so all the all I'm talking about in the futures the Dow futures right now down 293 there's some P futures are down 37 let's see if there's some kind of a comeback later on if it closes towards the low of the day just down horribly it says yep maybe this is just a one-off just a relief rally is not a gusher not like an oil gusher with the the upside is just completely being bought nope it says that there's some selling pressure going on have a wonderful day I'll be back regular time tomorrow check out my pretty cool modating newsletter and stay tuned if it's the early edition you'll listen to Tommy or by it's later on to be