 The following is a presentation of TFNN. The Tiger Technician Hour with your host, Basil Chapman. Call now toll free at 1-877-927-6648 internationally at 727-445-1044. Now, Basil Chapman. I'm Ron Basil Chapman, Tiger Technician Hour on this 11th day of November, and certainly to the vets, our deepest appreciation, obviously. Very special. And the down's down 35 at 27,646. It was down over 100 points, 100 points deeper than this earlier on. And then Bowman came out and said by mid-December, there should be getting certification, or at least start the certification process. We'll see, because I think there's still a couple of little surprises that should, that's what the chart says. There should be a couple more surprises, but trading ban, 320 is probably the major support, and 370 is probably the resistance. So we could continue trading there for a little while longer. Up 11, 362, 324 was the low of about four weeks ago, the 21st of October. Very nice rally. I mean, when you think about 40.11, 12%, and it's stocked like this. And they're going to have the, trying to have most of the cases represented overseas. I mean, that makes sense for them. The awards would not be the same as here. So we'll see what happens with Bowling. So Bowling did make a peak detop in the Chapman wave methodology. Remember, Dean, let me just do this quickly, because I've got a webinar coming up Tuesday a week, and many people are asking questions and different things. We like to look at the alphabetization from the low bar to count each successively peak. We use the letters to describe each higher peak. So it's alphabetically in order, peak A, peak B, peak C, peak D. The fourth highest peak is where other things can happen. It can go to E, F, and G, but D is really where, it's the one that's probably, the one that has the most often deepest corrections. And I look at patterns either straight up or straight down, single leg, or you get an arch or a cup. You can have a combination. And if it's the arch, then you're looking at the lower case H. If it takes out the left side low, you can go deeper in the reverse Y. If it takes out the left side high, you can go high. Just keep it as simple as possible. So what have we got? We've got going, peak D in the monthly chart. Deepest correction. I call it the Chapman wave, stalk leg formation. This is the peak. The peak hasn't completed yet. We'll see if that happens. Pretty good when you think 446 to the low of 324, 120 points, 22% or something like that. Correction with all that bad news, terrible, terrible news. So we've got the D in the monthly chart. You've got right here. GSXP in the weekly at 446.01. And you've got a peak E. The last high was around number high of 391 on the 25th of September. But no, it's the peak D at 380 back in July. More importantly, it was this one right here. Let's just keep going. There it is. A peak D at 446.01, the all-time high on the 1st of March. I remember discussing this right there. I said, you know, I think that Boeing is going to have a hat-trick top. That is, the monthly chart is close to turning down. But it cannot turn down unless the weekly chart gives a sell signal. And that weekly chart in the weekly chart sell signal couldn't be promulgated unless the daily chart gives you a sell signal to sell more. It was in a sell signal. And then there was a terrible crash. And then on the 11th of March, so that's April, May, June, July, August, September, October. And it's the moment. It's eight months. Wow. So there was that news of the crash. And the plummeted down. It still had a green candle for the day, even though it gapped huge. It didn't close positive. It had a green candle. And then it reached a trading band, a rectangle formation. I drew this in. And these are techniques that we're going to be discussing. And it finally goes down to the 324 law that was made. Where was it? Just keep going. All right. I'll discuss those. And so the daily chart set off the weekly chart. The weekly chart went to a sell mode, which started a sell signal in the monkey. And that now is in a sell mode with very weak stochasticity of 44%, not in the 20s, but it is in the 44% area. And the MACD is still quite negative. So as we're looking at this, oops, as we're looking at this, what I'm going to tell you is that within the context of the various rotational in the stocks of the Dow, look at this, you've got a UTX at a big D, just two days, just sideways after this little, tiniest doji candle top, leg D in the weekly chart, only leg C in the monthly. However, we spoke about that earlier. I did a show with Tommy Jr. Tommy and I were doing the show. And what we're all looking at, let me just fix this for some reason, it's slipping. What we're all looking at is that Disney has gapped up and over the last couple of days, every time the Dow looked like it was about to really drop quite sharply, there were one or two stocks that showed strength. And Disney was one of them. Microsoft, I believe, was another Microsoft. There it is holding very nice and good candle Friday, high level consolidation sideways, trying to make slightly higher highs, all D, this is a D, this is now an E, and the weekly chart is still D, monthly chart is only a C. So there's still strength going out into the different sectors within the Dow. And let's just do this quickly. So you've got the S and P, if the Dow takes out 27,420 to 27,380 support in the next couple of days, that's going to be a problem, but I'll go through a whole, what I'm looking at in a moment, but let's just finish this S and P, holding nicely, it's 3,083 down 9, it's not participating too well, Boeing's not impacting that very much. 3,059 is the 9th removing average support, and I think that's 63069 and then 3,055 is the 14 period exponential moving average. So yes, you have a little bit higher prices, but I think that we're going to be coming down with slightly lower lows and slightly lower highs. And one of the reasons is, you see the way this 9 period moving average, the green line is so far above the black line, the 14 period moving average, but look how the price is still way above it. So to get this green line to turn down and cross negative underneath the black line, it's going to take at least to 3,047 in the, that's four, it's 500 points in the down, so take a lot of points for it to happen. So I think it's a slow process that we're looking at, a slow grind sideways, limited upside, but probably for the moment, limited downside. QQQ NDX 100, trading at 200.64, also PT, doji, candle, but it hasn't broken down sideways action, nicely above the 9 period and the 14 period moving edge. MACD hasn't turned down, stochastic is still at 91% very good. IWM, same sort of thing technically, but it is touching the 9 period moving average, the green line right now after peak F, 160.46 high, not an all-time high, just a recovery high. The last time it was there was back in April, March, May, it was at 161.11 and the last time it was 160.46 and it must hold 157 this week. If it breaks that, that's a real problem. And now let's do the gold. So gold is down 7, not too bad, but it's down at 40.55. I think that 40.53 level is major support, has to hold that, that's the 9 period moving average of the right side chart, the monthly gold contract, continuous price that you're looking at and the dollar hasn't had a big spike but it's holding a case just down 20 cents and I'm 18, I'll be right back. If you're not currently using the TAS Profile Scanner when looking at setting up your trading opportunities, then your arsenal is short a mighty weapon. The TAS Profile Scanner is a standalone piece of software that instantly filters over 2,500 global financial markets such as stocks, ETFs, commodity futures and forex. Heated by Steve Dahl, TAS understands that in today's technological world, the use of top-flight software applications and technical analysis expertise is essential to successful trading in today's market. 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Call now. Toll free at 1-877-927-6648. Internationally at 727-873-7618. I'm on my way back. I'm looking at the TLT, the ICHAs 20th Treasury Bond Fund trending in 134.75 down 16 cents. It made a low three days ago right here at 133, was it? 134.45. 134.45. Just type that in, 133.9. Okay. But it broke and closed underneath the left side low of 136.54. If you look at this particular chart right here that I show my subscribers to my opening call every weekend, you've got your triple yield chart. The white is the TYX30, a T bond yield at 24.27 the high last week made a new leg B, huge move from the low that was made at about 19, I don't want to guess it, let me just see what it was. I should have typed it in here. 19.05. Yeah, 19.05 the week of the last week of August and now we're at 24.27. So you came down really sharply but you come back pretty quickly and you're at 24.27 high right now 24.27, oh you're at 24.27 right now, wait a minute I must have missed that 24.43, sorry 24.43 I should have typed in 24.43 was the number from last week to high. So that says to me you've got to be a little careful because rates are backing up and that could impact the housing sector which is on the right here below a square. HGX for the Valfi Housing Index trading at 3.909 high was 360.68 for peak D so you know there's peak D there's your peak D and you pull back sort of brand new buy mode went to peak D again and so this is going to be very important how it holds here and wood which is the ice table in Timberford Street you have did a real nice bounce but is it a bounce is it one of these again and all we're doing is going from the lower case H to a lower case M that's the pattern that can unfold and this is a chance it could be stuck in a range if wood the at trading at 65.21 actually climbs above and closes above 66.92 the high of February the 8th the week of February 8th that'll be a really close it'll be a really good sign because it's like an engulfing candle covering all the price movement down to the 5505 low and that was made in December and then bouncing up to the level I just spoke about the 66 and now we've had so far only 65.77 so this week there's a push high that's going to be important so I wanted to show that rates are kind of important at this point plus rumors just stories and rumors and all sorts of things going on impeachment hearings or at least discussions or whatever they're called we'll see what happens but have a look at this chart right here this is the TN axis the 10 year yield so it made a leg F alternate count it could call it an alternate count F but I'm just for now calling it an F we're not doing anything we're just notating it leg B in the weekly there are a lot of charts that have the same pattern leg A in the monthly is a great A because it's really just a bounce so far and we'll see I believe there's a chance that later on we start to tackle that leg in the monthly in the TLT which means rates could go lower but not right now and 148.90 was the highest August of 2019 at peak C so as I'm looking at it I'm just saying rates could still be stuck look at a high grade copper if wood the ice is global if he's having such a good move why is copper so lousy look at this monthly chart look at the weekly chart and we've just had a recycle that didn't cross negative I'm not sure why I had that there should have been a G slash B and then you get let's see what you get G slash B and then this will be a C D again another P D and this one here was a chapter of instant research very deep in a chapter of instant nevertheless look at that so as I'm looking at this my thinking here is that A B C D E that's wrong that should be an E my mistake that would be G slash G it's always G slash C come on there we go G slash C right there this becomes D and that becomes E so D out E in alright so that's what we're looking at in the high grade copper nice move but just a move just a little balance okay a couple of things I want to talk about here so I've been through that been through that did I do crude oil crude oil is down 25 cents stuck in this range doing very nicely going sideways in this rectangle formation but so far hasn't really broken out we'll break out if we can get to 58 80 59 30 that's something different that's the way I'm looking at it where would you start to accumulate the monthly set up on the TLT oh I okay the TLT where the TLT rallies most of the time you're going to see the stock market see money come out of the stock market and go into the the whoopiness of the stock market and go into the so called safety of bonds so I'm suspecting that you got to wait a little longer but probably I would because I know you're a longer term purveyor of the TLT I'm going to say to you just text me or email me again if we get under 133.30 that's when I need to look at it again to see if we're going to go lower or if that's the start of a basing period but that might also correspond to the Dow not going down all that much as I say I want those moving averages to cross negative and it's going to take a lot of price movement so but at this particular point I think you've got time see this dreaded H in the lower case H if you take out that left side low you've got one to two bars to close above it to save the day and then the technicals have to really screen to the upside to give you a new buy signal otherwise you're going to make low lows and low highs so for now I think yields are going to go a little higher and I think that's kind of disruptive if it wasn't for Boeing right now I think we'd be stuck in this rate probably close towards the low of the day and now with Boeing that makes a little difference question about MUR what was MUR again? MUR is Murphy Oil so nice balance from the 18s all the way to the 25s and now it's trading 24 55 yeah this is we see the pattern that we're seeing it's almost like the bonds I suspect there's a little bit more upside there maybe go sideways I don't know if MUR and the other oils are actually ready to go Kuro is in Kuro is Kuro group holdings yeah this was a better one even when it took off it was a better one it's a much nicer pattern and that's had a huge IPO from 2017 November was it December of 2017 1350 was the low screams up to 3220 makes a chamber with 2 bar reversal 3220 let me just type that in because I'm bound to come back to it 3220 and then it takes a tumble goes to a lower low it goes down man it goes down to look at this it goes all the way down to 9 or 8 it goes to 874 in December oh that was December 874 and what does it do it has a really strong balance in Australia 1571 I would say that 75% it's a huge move 880 it's 850 yeah it's about a 40 a 43% something like that it's pretty darn good but it's just about to get to a leg D in the monthly chart if you're in earlier I'd say great but getting in now I'll do it in a moment I don't want to say anything out of tune I'll be right back Basil Chapman has just announced a live 90 minute webinar he'll be conducting for subscribers to his daily trading newsletter the opening call which will be taking place Tuesday November 19th from 5-6 30pm eastern time titled a comprehensive review of the Chapman wave techniques that helped make a head for 2020 this is a great time to sign up for a 30 day free trial to the opening call while gaining access to Basil's live subscriber event taking place later this month with some stock picks up 15-30% this year alone Basil will review many of the Chapman wave techniques that helped in their successful analysis as well as providing the sectors and stocks that he thinks will be of importance heading into 2020 for all the details check out the opening call on the front page of 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art of timing the trade charts today by visiting TFNN.com this segment is brought to you by thinkorswim for more information just click the thinkorswim banner on the front page of TFNN.com I just had a note from Paul saying in his usual very delicate way capitals did you know the bond market is closed today again you do not understand bonds oh man I've just got to learn about bonds I don't know what it is so the bond right now down 230 seconds from some trade whether it's closed or not is 15611 that's in the lower end it's gone underneath the dreaded age I don't have to know about bonds I do have to know about my chapter wave notations and my chart formations and you can see this beautiful cup formation in the monthly chart going from 2016 high it comes all the way back down and goes to a low back in 2018 and then it takes off and goes to a new recovery high I have to call that a peak scene there's nothing else it should go to a D that's where chapter wave works completely but if it's at a new recovery high that's really important 30-year continuous bonds but it did make peak D remember how important the D's are and look at this weekly chart doji candle to chapter wave 2 bar reversal on the the week of the 30th of August continuous contract 166 and 25 30 seconds next day 166 and 23 30 seconds then you have a big red candle that's usually a tip off to say wow be careful you made the dreaded age pattern yeah you took out the low of 157 17 30 seconds that's the one on the 13th we took it out last week closed well below trading under it now so this week we can't close above nicely above 157 17 it's a real problem we'll see what happens the week is young this is barely started now we're going to go to right here I want to go to the questions ahead yeah so Kuro you know that's a much different chart pattern I like it this is a much better looking stock has super moved today up 5.64% up 83 cents of 1563 and the weekly chart is making that v-shaped pattern I like it very much so yes this is good if you're long just stay long if you're not long why don't you see if you can get at 15 between 1535 and 1503 maybe start a position there because it's actually very very nicely it's doing something very different to the others a question I had here about yes we've done Boeing oh let's keep slipping huh let me just put that in here one second yeah so if you look at the chart of Kuro right now let me just get that to set up nicely so I can get my got it okay so what we're looking at is with the context of some of the others oil sector stocks this is Slamage and this is a refiner I believe made a peak D-top in the daily chart pulled back holding very nicely holding the 14 under the 9 period moving averages weekly is improving I'm watching these closely we did have a stock DO this is Diamond Offshore had it just briefly and then pulled back this is not a good of chart pattern it looked like it wanted to break out hasn't has gone sideways a lot of these older ones companies have gone sideways I think must be dog bogged down by many others MGM question the then about MGM MGM A peak A then it goes under A, B, C leg D D in the data let me just do that again find the lowest low bar nearly can't successfully higher peak that's A but then that becomes an A- because you have to find every peak so that's a little peak under it and it's higher than the lowest made and then that's a B and then that's a C and now you get your D so this is in leg D holding very well considering it's a D weekly charts improving so MGM yes good I code in the den MGM is doing very nicely that makes the whole area 31 30 right now I would say the whole area 30 point 60 to 30 it's going to be key support if it starts to fail again so far this is very good action question I had about you have did Boeing shouldn't we just do Boeing again because I might have changed since then it's even highest at 14 60 yeah so the shorts are covering you know this is news you've got a whole month and a half to go anything can happen in that month yes you are yes you are no you can no you can't I just be careful there I do believe that Boeing is one of the premier was one of the premier companies there's a lot going on here the backlog I don't think the backlog even if the backlogs change I heard it was 50 year or something it was multi years so you could lose a lot of backlog it doesn't it doesn't look great looking out but wow this could keep you in business very nicely for the next couple of years they have to solve this and they will solve it and it'll be maybe aggressively solved but I'm sure they're going to do something alright so a couple of questions came in yes X we're looking at X which is the US Steel holding nicely at 30 58 up a penny you're looking at nicely above the 9p moving average I like to do this I see this pattern I immediately go rectangle formation should retest the high and then go just slightly above and then pull back into the rectangle and if it pulls back it's got a lot of support of the 9p moving average of 1301 and 1267 so this rectangle I'm putting in just to say at this particular point let's see how that all works out the question about the SMHs SMHs are making a high level consolidation now the question is will the Boeing action really be good for the SMHs I think I'm treating them separately now my thing right now is that the that the semiconductor index right at 13277 down 44 cents I think it's starting to struggle the MACD is very good the cascading is really good at 89% the on balance form says it's a little toppy right here the wiki chart says wow this is a fantastic action should be able to pull back a little bit and I'm suspecting that the whole 131 to 129 area is going to be key over the next few days hey if it breaks out and goes sharply above 135 50 that's going to be very impressive because it'll have to be called a recycle to the upside but at this particular point I think it was just saved a few minutes ago by Boeing's rally but it does say that it didn't break under Friday's low so keep in mind that 131 43 you want to see a close under that and it needs to happen the next two days as soon as it starts to make lower lows then I think you'll start to see a lower highs I consider this to be because the moving averages are so strong this is all this is a digestive process that's going on right now so unless the estimators tumble under under 129 to the 128 30 area that's the only time you're going to see that fast moving average really start to get close to the 14 period moving average it's going to take a lot so it might be time but I do think the process has begun of this digestive phase and then I suspect that we'll have a bit of a rally into the end of the year so let me just sum it up I'm looking at this whenever the Dow manages to survive any sharp September October decline and this time it was not such a sharp decline but it was a decline into the October third low of 255 743 that usually says any rally after that that goes to a new high suggests that over the next many weeks going to your end there should be a close fairly close to the high this is my reasoning on this whole thing but in the interim you could get a lot of choppiness and that's what I'm expecting I'll be right back. 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So now the DAO is up 5 SB is down 7 so the SB is really laying still with the QQQ index 100 you don't watch this closely because yes you don't need much in the DAO you've got 30 stocks and you've got these crazies that do big moves up and down and that's been impacting with DAO so it's held it up that's why I drew the rectangle in here but that doesn't so far it doesn't change my outlook that we're having a sideways consolidation in the 120-minute chart let me just show you this no I'm sorry in the daily chart that was the 120-minute chart we made a peak at that 27,000 also my 27,774 high of the 7th of November then we pulled back and went up and then what I drew in for subscribers you can see this from my daily I give a very comprehensive newsletter every day and I said we should be pulling back yeah well we did pull back we pulled back to 27,517 now 517 we're up 160 160 points from that low I mean this is impressive and now I have to do this see this is the chart let me show you the techniques that we'll be discussing in my webinar coming up a week from Tuesday night for subscribers is this cup cup and ladle breakout pattern which went all the way higher you see the green line here and then the ladle starts to turn over and that says that right here we should start to see some kind of topiness you can even make a little cup formation like that right here but at this particular point with the on balance volume right here in the daily chart the way that we've come down using time actually let me go to this one here I think it's a little easier to see yeah there it is so if I can use this one here alright there it is so if you remember we had the D-Bag news cell cloud cover way back in April we were able to get short the day before the high and it plummeted down to the June 3rd low which we were able to buy for subscribers ran up and then we got a cell signal at seven points from the high we went short and that was another bad news cloud cover plummeted down made the H pattern which went to a lower case and then gapped up here so we had to just wait got another cell signal with a bad news cloud cover came down hit this trend line actually hit it exactly and then ran up and in this move up I had this right here bad news cloud cover but then we broke to a new all time high we broke to a leg D above the rectangle high and it seemed to me something's not quite right so we tightened the stop we got stopped out and now we've had another move to the upside I don't know if this is going to be the one I don't know if I should even put this in but I'm just saying that right here there's a chance for another rectangle formation sideways formation you can see the steepness of the green 9 period exponential moving average that is really sharp so it's going to take a huge amount of selling to get this to turn down look this one took 14 sessions before the moving averages crossed negative so I'm just saying that this is the area that I'm anticipating stalling action also if I go to this here using the Chapman way methodology of right here I do you so the Dow broke above the 27,000 529 high so sometimes it goes a little higher but you can see the 10 minute has automated Chapman way of resistance is green 27,000 725 and 727,000 908 once you break above that you're starting to you can go higher there's no question about it then there's a lot of resistance levels right at the 28,000 but hey that's quite a bit away from here so I'm just showing you that I'm saying that there are certain aspects to it that say to me just be a little careful here's the resistance level in the S&P at 3090 we're at 3085 right now we have gone a little high but this is going to be very important and that's 30105 in the 120 minute chart 3080, 3099 all levels of resistance in the weekly chart and if you go to the QQQ and the S100 that has broken all the daily resistance levels now you've got 200.83 it's exactly where we are right now as resistance and in the 10 minute chart in 202.40 in the 120 and then a whole bunch in the weekly chart starting at 201.10 so we're getting to areas of resistance that I would anticipate it's just going to give a stalling motion how deep we go it has to be a little later on I think we have to get through a couple of days here before we can really tell next thing I want you to show you is where was it IWM Russell 2000 that has a series of resistance levels at 159.60 we're at 158.44 so I'm just thinking that this is a good opportunity for the market take a breather but I suspect before the breather is finished it's going to be one sudden slide that just kind of scares everyone so let me just show you something else here look wheat just wheat continuous contract oh did I just hit the wrong thing yeah I did let's go over here IW wheat has made the H pattern and is it going to make that high that was made recently a high of consequence that is going to take quite a bit of time before we can get back there there's the there's that arch formation so watch this closely 501 it's called a 500 it's really important support is at 506.5 soybeans trading much deeper down look at this Star Plague Star Plague C made a high around about 960 back in mid October trading right now 917 that's not good news and if you look at corn corn is trading also down at 374 minus three and a quarter so this is a very specialized market look at this if you take a look at silver silver is trying to find support right at the 200 period exponential moving average having gone to a lower low in the weekly chart in that H pattern it makes it very important that it actually closes above on the week needs to close above 16.94 the low in the continuous contract of the week of the 4th of October so that's going to be very important next thing I want to do utilities XLU haven't updated them for a little while they are plunging right now that's kind of look this is the monthly monthly is saying there's a chance that the XLU is made at top of some significance meaning time and some price what would your target be Zag Z A G G so let's see oh Zag what does Zag do again Zag is Zag Inc that's what it does Zag Zag Inks I don't know okay what's my target let's just do this real quickly a low bar and so the techniques I'm going to show you how I'm going to start counting I'll take a blank chart and we'll just do it and I'll talk about it out loud on what we're looking at A B A I like that candle 4 months ago in Zag and I like the action now I think Zag has made a turn I think at 8.48 trading up 0.01 it's turning the whole area 8.48 is turning 8 8.10 to 7.80 into key support I like the action yes I used to have this notated having better now Paul says Uber, Uber Co-Found, Direct Travis coming in some more than half a billion dollars worth of stock last week of the company lock up period I know we were talking about it Tommy and me earlier on in the show at 10 o'clock look at this Uber I'm trying to find I'm certain you are or strive to be one of the best of the best at everything you do in life it's the most common trait that we Tigers and Tigers share if you're looking to become the best of the best when it comes to managing your money let me teach you to do what most wealth managers tell you can't be done which is how to time the markets I'm Steve Rhodes, author of Mastery Probability and for the last 12 months Timer Digest has been tracking my newsletter signals which have earned me the ranking as our number one market timer in the nation for the S&P 500 for the last 12, 6 and 3 months Timer Digest also ranks me as the number one market timer for gold as well the fact is markets can be timed and I'll teach you the exact set of tools that I use that has transformed me into one of the best at what I do sign up for Mastery Probability today by clicking on the newsletter tab on the homepage of TFNN.com and get immediate access to workshops where I take you step by step how to use an extraordinary set of 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reduction and the need to detox Nicar hunter and gatherer ancestors found all their nutritional requirements for health in their wild environment but today our food sources no longer contain the vitamins minerals and nutrients our bodies need to stay healthy and strong that's why we need primal edge daily nutrition it includes a special blend of ionic, soil based vitamins, minerals, fatty and amino acids in an easy to use liquid form which is powered by highly concentrated folic and humic acids nature's preferred delivery system they've been called miracle molecules because like sunlight air and water life cannot exist without them that's right Paige they ensure we receive all the nutrition we need to be healthy and thrive we take it every morning primal edge formulated and approved by Niko and Paige of living a primal lifestyle buy it today for just $89 click on the primal edge banner on the front page of TFNN.com Hi folks this is Steve Rhodes stay tuned for another great hour of the Trader's Edge heard here at TFNN.com So what I'm going to be doing in my webinar coming up Tuesday week for Subscribers to my opening call you can become a member just go to the front page of TFNN sign up I'm going to be showing you how you can just draw simple trend lines because this beautiful support that had a bounce in the XLE monthly chart after making that top at 101.52 in a beautiful up channel and then an inside track resistance level pulls back and now it's testing testing testing at 53.36 in December it tested that exact trend line support and it ran up but not very much it got stopped at the 14 period the black line the 14 period moving average pulling back and now it's struggling to get over the 9 the pink 9 period moving average so I teach you all these very simple techniques techniques that you can use if you don't most of you have the tools on your trading software platform but if you don't you can just type just print it out and use it trend line great works well so these are the techniques I'll show you how you can use the moving averages why I put the stochastic above the mag D sorry why I put the mag D above the stochastic a whole bunch of things like that how you can use the green fast moving averages a good guidance why I don't just use the mag D stochastic as instruments for trends they have to be accompanied by other things just real simple things I'll try to stick to just the key ones that we're looking at right now in all our positions and yeah positions are done very nicely even today we've got a couple that are acting well we saw only in long stocks but we have two short positions the initiation positions I suspect that I need another couple of days to see if they can go on of the kind of downside strength we'll see what happens it's a process and I'm making a big deal that it's a process I'm not expecting a three to 600 point smash the downside unless it's really bad news system going to happen and this is just really bad news and has to be persistent so I just think it's there's a chance of over the next couple of weeks just lower lows and lower highs and then we want to be looking at the upside maybe I'm wrong then it's upside now but I think we got a little time next so you got Steve Rhodes coming out Dave White and then Tom O'Brien I'll be back tomorrow check out my opening call my daily newsletter hope to see you tomorrow have a great day and watch this market still a consolidation going on be back tomorrow see you then