 The following is a presentation of TFNN, the Tiger Technician Hour with your host, Basil Chapman. Call now. Call free at 1-877-927-6648. Good morning, everyone, Basil Chapman here. This is the Tiger Technicians Hour on this Wednesday, December the 6th at 10.06 am Eastern Time. The reason why I mentioned that is that I like to look at the market in different phases during the day. There's the early morning phase that could start at 6.30 or even earlier am Eastern Time. It's anywhere between that and any kind of benchmark economic news that comes out at 8.30. Sometimes it's a little earlier today. It was 8.15. It was employment, et cetera. But what really was important was the market's reaction and the immediate reaction. Let me just go to the fuses for a moment here. The immediate reaction was right 8.30, right there, was to spike up. That's a five-minute jump. Then spike up, pull back and then hold and start to move up and take out the high. That was a peak D. That's where you expect other things to happen. That's where other things can happen. But what happened is it pulled back and walked the nine-period moving average, ran up to an E and then an F with a little dogy candle. That corresponded not to a peak D. That really wasn't an official peak D. I made it a peak D because right here at 7.30 this morning from the low of 7.20 on the 10-minute chart at 45.80, there was a parallel high. I looked at that and I said, you know, there was a little hiccup here in the on-balance volume. I'm going to call that a phantom peak. Why? Because I like to get to D and know that I've already got to the D and other things can happen. But sometimes everything about the technicals, especially if you're using shorter-term timeframes like the one and then the five, it's like the daily, weekly, monthly, says if you get there to the high, if you're calling it C and all the technicals look like that, that looks like it's a D. I'm busy waiting for a D to come. I'd still be waiting from the high of 45, 98.50. And here we are. We've already gone down to 45.83. So I use that as a phantom peak. So this is in the technique of the Chapel Wave. There are a couple of variations, but there are specific rules-based variations because what's the point of having a technique if you're constantly modifying it? So in this particular case, yes, we had a very nice turn down from that place. And I'm just saying to myself, I wonder the install strength in the Dow, and I'm going to go through that in a moment, but actually the S&P is a little bit weaker than the Dow. The Q's are a little bit weaker than the S&P. The S&H's, where are the S&H's? I'll get to them just now. The S&H's are right now up. No, they were up. Yeah, they're up $1.40. Not acting that well, not acting that badly, but meantime, I'm watching this very closely because there's residual strength on a purely technical basis. One or two of the indicators have started to slow down. And in the Chapel Wave notation, there are a couple of things coming up which I need to talk about right now. So I'm just saying if there is some kind of a break and the 45.82 level gets taken out, and 45.85 is the 200p moving average in the 5-minute chart. So I'm giving it just a couple of points. If that gets taken out, I'll watch the 279 load because at that point you can get a very sharp pullback. So this is a moment where you don't want to over anticipate. There are things to monitor. There's a process going on if there's any kind of top emotion, but here's what I'm really looking at. The Dow went above the 36,264 high, or four sessions ago. 36,292. And I'll be making a big deal about the 36,290s as kind of the area. As you get into the 90-ish area of every 100-point move, that's often where you get resistance. So in this particular instance, we've gotten to that. How the Dow holds up is going to be very important. Why? Because look, you've got the green 9-speed moving average way above the 14, and the prices way above the green. There's absolutely nothing technically to say other than the Chubb-Wave notation and the leg E at this particular point that you've got to be a little bit carefully of the Dow. The magnest goods of stochastic is flat at 96%. Wow! Flat at 96%, except the longer you go, the greater the chance is that you're going to be pulling back, maybe have a bounce again, and then if you start to go to the 83 and then 79% level in the stochastic, that's a good hint to say it's on its way down. You've got to be really careful. But in this case, it's ideal that it's at 96% right now. Unbalanced running did pull back, price held very well. Now, I don't want to spend time on this. I've done it enough. This leg in the weekly chart, is it an F or is it an A? F says, ooh, be careful. A says, are you kidding? Every single decline needs to be bought. So I'm leaving that for the moment because we have to go daily, weekly, monthly. Monthly is a leg C, technicals are much, much improved. Not fantastic, but they're improved. And that $36,952 will act as a magnet. It will draw the price in if the Dow can get to, I'd have to say $36,600. And all of a sudden, it's going to be like a magnet to grab it. So this is a momentary pullback, a digestive moment, if we get it. Now, let me go through the S&P right now. Look above the nine-period moving average. Look how many times in the last five sessions, five sessions, it's touched the nine-period moving average. Today, it's above it. And that's the days early, but it's up 16. That's a good sign. But, and the MACD hasn't yet crossed negative. It's very close to it. And the stochastic is still at 84%. That's good. But it's starting to turn down. On balance volume gave a signal the other day to say, hey, watch this peak F. Yes, you could go to alternate count and move to the higher level. But this is something to monitor really closely. And this is interesting because the weekly chart has not broken the 4607.07 of the week of July the 28th. But it's still very strong in the, all the technicals of the weekly chart. And the monthly has started at its leg. Whoops. Did I say sorry? And it's leg D. How can we do that? Is that the high? Is that the one that I'm talking about right there? Oh, yeah, it is. So that's, yeah, that's the 4607. And this high is, oh, oh, I put that in. I was explaining it, but I hit it by mistake. That should not. That's the Chathamay falling exclamation, which says that we could go to a D. Now that D is something to monitor in the monthly chart of the S&P. Why? Because if we start to pull back very sharply, this takes precedence if there is a D, and it's below 4818.62, that means that that Pb is now negated as the top of consequence expecting a higher C&D, because this is taken over. So we could file underneath 4818, but so far all the technicals are pointing. Yes, it could be a momentary rest period, which I think we're in, and then we can go higher. QQQ, it's the same story there. QQQ took out the high of July. So this is an E-SASH-A in the weekly chart, but you can see the technicals here are starting to deteriorate just a little bit in the daily chart. They're not really bad, but one by one they start to deteriorate a little bit. So I'm monitoring this very closely. Whoa, that was a lot. It does have 113 S&Ps of 17, holding extremely well. If you're looking for potential trading setups in the stock market, then Rocket Equities & Options Report is a newsletter you should try. Tommy O'Brien delivers options and equity trades when the markets present them, using a combination of fundamentals and technicals. Sign up for Rocket Equities & Options Report today with a 30-day money-back guarantee so you have nothing to risk. 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Subscribe to the Fibonacci 24-7 newsletter today, TFNN.com, educating investors. 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. Watch 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 tigeresses for just $1 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. Toll-free at 1-877-927-6648. Internationally at 727-873-7618. Hi, folks, we're back. This is the Tiger's Den. We're looking at the Dow, up 123 SMEs up 8. So I double-imped the Russell 2000. This is a small caps. Now, I had what, oh, if I can find it, I wrote it down. I had not looked at it for a while. That was the Russell 1000. Why did I not write it down in front of here? Oh, I'll do this. Let me just do this. I'd like to do the two together, so I'll do this here. An index. I'll go Russell. Russell 1000. Oh, none of you could come up like this. That's it. Yeah, that's the one I did. Good. RUI. Yes. Okay, good. So I did the Russell 1000. You can see it's a slightly different pattern. Made a peak C in the monthly chart, and then it pulled back quite short. I could have called that a phantom peak and got this to a D. That's not the point. The point is gone, leg A, then peak A, peak B, gray, gray, because the stochastic's still under 80%. NACD is good. It's holding beautifully. This is the 1000, the very small gaps. And I just wanted to check. I don't know. It didn't go to a leg C. It's made this V-shaped pattern, and that's just telling me, and look, the way it's arching over right here, that's the one that says to me. So I've got it. I could give an alternate count. Just for now, I don't even need to do that. A peak F is fine. It could be F, slash B, but F is fine because it's still going to a G even. So in the Chamois methodology, I look at the notation as one thing. What does the notation mean? It just tells me it really is a way of processing or giving a grade to each higher peak. A is good. A is a star. B is good. C is really good. D is great. That's what you want, and then we'll see what happens after that. So this has gone to an F. The green 9-speed moving average, it's hugging that line, but it hasn't broken down. It's above the 14. That's really good. The MACD is just about to turn negative. Sycastic's at 88%. That's really good with starting its way down, but that's still fine. Relative strength is good. So yeah, I wanted to put it into the context of what are we looking at in terms of the two together, the 2000, Russell 2000, and then the Russell 1000. Now, it's almost impossible for me not to have a look at this to see if there's a failure pattern in this bounce up in the one-minute chart. Yeah, watching it really closely. I think there was a fake out. There were three fake outs, two fake outs, in about three or four sessions to the upside. And what do I mean by that? I mean, there's just enough residual strength together with some economic news that could really be read two ways and was read one way, and then as time moves on, it'll start to be read the other way. So I just need to see where we are there. And here we go. So this is the IWM. So keep your eye on this. See, it's a slightly different. You see the V-shaped pattern right here in the weekly chart of the RUIs, the Russell dollar RUIs. I get it on trade station and the Russell 1000. Now let's go to the IWM. If you can visualize these two patterns, left side, daily, weekly in the middle, making the beautiful cup formation or V-shaped formation, the lopsided gravy cup, and you've got the monthly chart. Here we go. Completely different patterns. The 1000, I was fascinated with this over the weekend when I looked at it and I thought that is really important. But here we are with lower lows in the monthly chart, lower lows in the weekly, but it did make an arch formation. And then the technicals in the weekly chart, but the technicals in the daily are very strong in leg E right now to say that there is evidence that buying is coming in where it hadn't been forever. I mean, just on this whole way down through July, August, September, October to the October low, and now you're starting to see buying. And now here's the 200-period moving average in the weekly of the IWM, the size shares Russell 2000. Here's the dollar, R-U-I, and I can't remember what the symbol was for the R-U-I. I'll have to go and find it for the tradeable ETF. And now look, there's your V-shaped pattern. Completely different. This is way more positive the Russell 1000. I want you to, Jimmy, I wanted to just point that out because to put things together, in the context of where it is in relation to all the different indexes, especially the ones that count in this case, we want the Russell 1000. Markets giving it up, giving it up, and we've gone down to, I never got a chance, I was about to do it right there. Reshort, I didn't do the two-click session. I said today, I felt it in my bones that there's a really good chance to do a two-click session, but because I did two really with tiny little losses, I did two trades, almost at the top, and then I thought, I have to wait, I have to wait. Then I did wait, but I didn't put in more than just one position, and then I took it off when we started to go sideways over here, thinking on a big bounce I would get back in, never got it back in, we'll see if we can. But here we are, so I was out at in it, what is it? 96, I think, 97, 96, and that was just the high, and out at about 86 or something like that. Ah, nice, but wow. There it is at 81, 80. Whoa, so now it's under look. I think that this is a trap that I'm looking at in the last couple of days. So with that said, I'm going to go back because the reason why I'm jumping around here is this is in my timing phase since Friday to today into tomorrow, I consider this to be a really important timing phase. And I'll explain in a moment why, but first let me finish this. So I'm going to go back to the question was the IWM, so I'll stay with the IWM because now I've got context for myself to say IWM is acting very well. It's been here before, it's if you look at the weekly chart, it's in this huge rectangle. You remember a long narrow rectangle can last a lot longer than your patients until it breaks out above and goes to a DEOF and then comes back tests the middle line. I want to putting in the middle line now because we've got the children appeared moving average as the middle line right now. That's fine. It's hugging. It's like a magnet. Would you believe when I talk about magnet lines and I'm going to be doing a webinar coming up in about a week or so now two weeks or so. Oh, maybe maybe two weeks from today but I'm just deciding whether it's Tuesday or Wednesday on my schedule and when it breaks below the midpoint line of the long rectangle be careful because if it's already and this only went to a C and then it failed it should have been a D but what happened is it tests the lower part of the rectangle then if it rallies and it can hold above the rectangle which was which is now a strong repellent line and that's at 181.37 we're at 186.59 technically way above it but at any point in the next week if we start to come down and break it that's not good. If it can remain higher for the next two weeks not break 182 you could even touch that line 181 mustn't go under it. If that's the case then we should see a move that takes it to the upper band of 199 and above. So I hope that helps you Jimmy what I'm looking at is a short term pullback in the indices a digestive phase that's already happened in the S&P and the SMHs and even the QQQ but if this is able to hold steady support as the other indices pullback show independence rather than drag down like boys is it's December Tigers that means festivities decorating spending time with friends and family and the TFNN tiger dollar holiday sale don't miss your chance to receive a 20 30 or even a 40 percent bonus when you purchase tiger dollars once you apply your tiger dollars to your account you will be able to use them for any TFNN product purchase instead of your credit card visit the front page of TFNN.com today to purchase your tiger dollars don't miss your chance to receive up to a 40 percent bonus on your tiger dollar purchase this holiday season every tiger who purchases tiger dollars will also receive a complimentary TFNN tiger mug with their purchase act fast this sale end December 17 happy holiday Tigers TFNN educating investors currencies commodities and bond markets are as important as ever right now with how they're driving the volatility in equity markets across the globe which is why it's a great time to try out teddy keg stats tiger 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 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 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refund within 30 days of signing up TFNN.com educating investors don't forget you can listen to TFNN live on your mobile device 24 hours per day go to TFNN.com then hit watch Tiger TV that's TFNN.com then hit watch Tiger TV hello so we've got the estimators off the high still up 78 cents in 156 and if you're looking at the 914 it's still above the 9 is above the 14 still green the magnies turned down sharply as the Cassidy turned down very sharply to 38% on balance volume is down relative strength is a bit weaker but price I've had webinars on this for my subscribers they know and for anyone thinking of subscribing to my opening call I've got these webinars but I've spent a lot of time on the webinar that was on the technique based the 914 technique and look here the 914 is still holding I call the indicator of last resort as long as it's holding this price is still in a positive mode as soon as the nine turns pink it says if you've got a D or whatever it is at the top the D or F in this case a double top of C1 C2 that acts like a D it says be careful because you've just gone from a cell signal probably gone from a cell signal we haven't even got that notation yet of a cell signal I've still got a plus up there to a cell mode that's just a designation doesn't say oh my god now you're going all the way down to 1 it just says you're in a cell mode that's a designation now you've got to be careful but that weekly chart is still strong that's why I've been saying that I'm considering that we're looking at daily charts that are very different to the weekly charts of the ones they're going to give us the big picture which is the reason why I've decided that in timing about a week and a half will be perfect for timing in the sense that we'll be looking at some of my indicators and saying where is it, what's working what are the sectors that are really holding very well and let me just finish this up by saying I had a question about Intel Gary once he just sent a note to say Intel I actually had a chance to read the note but yeah look this made a peak F the 9 is turning down but it hasn't gone negative, MACD is the same looks like the estimators the weekly chart Intel trading at $4198 INTC is a symbol of 6 cents right now but look at the weekly that 200 period moving average it didn't even know there was a 200 period moving average forever when it started to break down in April in the 45s before it went 24.73 there's the rectangle formation where it went to the D it broke the midpoint and then it quickly went back above the halfway marker and look how the 9 period moving average is being green ever since so this pullback here says there are a number of indicators that say between 40 and 38 would be good support for Intel what was the other one I wrote it down didn't I I advanced micro devices look at this this is the weekly chart 13283 was the high in June it pulls back to the 90th level and now it's trading at 120 still not bad I've got this as a gray A why is it gray because it's the caster whoa whoa whoa whoa wait a minute the caster said 91% huh okay so that's a very good action that's the weekly chart the daily up the daily made that's what it was then he made a gap up with two there's a doji candle this is I have a webinar based on this from quite some time ago I call it the silent doji candle and what happens is the sign you know if you do a scan you do a scan for doji candles that's giving you the candle right at that moment as maybe a peak or a trough but actually I found over the years that if you do your homework you can find that the one just before the top or just after the top or just before the bottom or just after the bottom is actually the key so you've got a doji candle warning at a peak D on the this is on the 28th the 29th it spikes up to a new recovery high 125 73 5 points off the high that was made back in July June July and then doji candle and then a big red candle not a chaplain wave Roman it's almost like it but it was it actually did everything that you talk about I talk about this is a little chaplain wave Roman counter today we've gone halfway into the wick yesterday but then it turned up and today we've gapped up so these little mini ones I don't put in as much emphasis at all but it is a technically one I like the ready big one and I'll show you the GD gold chart in a moment so this says just a little warning to say that advanced micro week is looking great monthly charts improving but the daily chart says there could be a pullback a minor pullback towards the 115 to 113 area then you've got to reassess if it makes a new recovery high that is really outstanding action right in other words if it goes into the 125 and a half 126 area that's really good okay so I did that next question has is crude oil I wanted to do crude oil because in the den was mentioned I can't if I can remember where it was so look crude oil I said made a pd remember chaplain wave methodology pd is where other things can happen wow what a pullback from the 94 area we're at 70 right now in leg C to the downside monthly chart is starting to rain I was doing quite nicely before but now it's not and we've got a new recovery low I never know what it is multi-week low there are a multi-week low F right here and so we have dba which is the dba we've had for a couple of years now the dba is the dba cultural fund so I've been talking about this for a little while saying you know there are signs that deflation you can't you can't as long as you've got the grains holding really well you can't expect deflation but the dba which is the agricultural fund is saying that there is so weakness in the grains and that should be translated into stocks like a gis which is having a nice session here but look at the low look at that general mills, Cheerios Chinese and other foods makes a high at about 90 about 7-8 months ago and is now trading down the 60 area 65 area so it just said to me that at some point that's going to be if the dba actually starts to take out the 21.42 200 period exponential moving averages 21.99 that's not only going to tell me that it's broken trend support line, this inside track propellant zone but it tells me that there should be some deflationary aspects so together with crude oil we're going to watch this closely but then someone put in dba we once had dba we wanted to keep long crude oil and that has much more crude oil I can't remember exact proportion of dbc so I haven't updated I just saw this in the den have a look at this, so db commodity tracking fund I don't know what the proportion is but I believe it has a lot more crude oil in it but you can see that right here there's a db commodity tracking fund I made a high just over 30 around about in 2022 I think it was May or June and then it's been pulling back ever since so we've got to watch this put together this could be a fantastic thing if the market starts to break to the upside I mean it really significantly get closer to the all time eyes then you've got deflation you've got low interest rates a lot of things could go right in the meantime short term I think there's a digestive phase unfolding it would be a good time to look at what you want to buy that you didn't get in before I'll be back the gold report as a precious metal gold is still king it continues to hold the most effective safe haven in 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 and 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 your daily guide to profitable trades Tom publishes his daily market insights newsletter every market day before the market open along with updates when warranted stay ahead of the game with Tom's real-time analysis and trade recommendations delivered straight to your inbox whether you're a season trader or just starting out market insights provides the edge you need to navigate the markets with confidence ready to join the ranks of successful traders head over to TFNN.com and subscribe to market insights today don't miss out on this opportunity to supercharge your trading results your insights comes with a 30 day money back guarantee for all new subscribers so you have nothing to risk don't miss out on this opportunity to revolutionize your trading game head over to TFNN.com right now to join the thousands of traders who have already experienced the power of Tom O'Brien's award-winning newsletter market insights firsthand TFNN Educating Investors biotech is booming but for how long whether you think the biotech bull has room to run or has run its course trade LABU or LABD directions daily S&P biotech three times bull and bear ETFs visit directioninvestments.com slash biotech today an investor should consider the investment objectives, risks, charges and expenses of the direction chairs carefully before investing the prospectus and summary prospectus contain this and other information about direction shares to obtain a prospectus or summary prospectus please contact direction shares at 866-476-7523 the prospectus or summary prospectus should be read carefully before investing an investment in the funds is subject to risk including the possible loss of principal the funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor four-side fund services LLC this program is brought to you by Vistagold traded on the NYSE American and TSX under the symbol VGZ yeah so let me just do this for a second here so when I was looking at the gold chart this is the real Chapman wave inverted Roman Canon see this long week I usually don't like to put the price in because it always changes because it gets smoothed out as the continuous contract of gold 2152.3 was the high somewhere in that area so the rule of thumb is that you've got two days either maybe three is to get into halfway into the WIC the long WIC on the upside and if you do that and see for 90 minutes because a shorter time frame is a daily chart so I've got a smaller time frame I usually give it a little bit of time so 90 minutes on a daily chart they can go on over 21.22 and hold there for 90 minutes there's a chance that you're going to go very quickly to retest the high and maybe even break it if instead you've gone and closed underneath the low of that bar which we did yesterday you've got two I'm going to give it three days in which to close decisively above that level usually it's a good go well into the dark red part of the candle and that would put you somewhere around 2072 and that says okay as long as the nine is holding above the 14 that's a good sign that's maybe at least a short term bottom that shouldn't be tested for a few days or a few bars and then you should try to move to the body of the candle the entry point in this case the continuous contract was opened at 2094 so that's the way I'm looking at it but from the action that I saw from the fact that for instance one of the socks that we missed by a penny and then it's shot up from the 1325 instead of getting to 1324 it ran all the way up one big move to a leg D and then there's the silent doji this is ASA Golden Precious Medals to 15.80 it's not down much it's only at 1537 but this is be careful a little digestive phase right here all the tetras are still very good so more digestive phase big single leg A to the upside that's the big test that's going to come does it become a single leg failure pattern I don't think so I think there's good support at the 1472 200 period moving out between 1510 and 1472 so those are clues to me so I'm just saying that as I'm looking at it right now I think that that in a way that was really a sucking in just the people who hadn't bought gold at all the last two sessions especially that Sunday night when it spiked up sharp the same with silver see silver didn't have that kind of candle this is an ugly kind of candle but so far the 9 is still way over the 14 so it's a working process that says the 200 period moving average support is at 23.98 but watch this inside track what was a propellant zone has come back to be a support zone in the weekly charts and that's silver so I think it's a work in progress and I suspect that there's a good chance that that was a strong buy signal in gold and that this is a digestive phase with a somewhat almost like what you find very often in the Bitcoin so just a quick question BTC Bitcoin trading up oh did I forget to do that so that is not that's an FCHB this becomes C and D okay this goes right here C I just kind of ignored it even though I just spoke about it I don't know why it hasn't been on my list because we did have a fantastic trade a couple of years ago in this that went from the 12s to the 50s or something in the GBTC but I just have kind of ignored it for a while this is your A oh look at this A but you've got to count from this starting point you have to count every peak there's another little one so that's a gray A that becomes a B that becomes a C and all of a sudden I'm looking at what looked like a C is actually a D so I added D in the weekly charts you know all of these things are just saying be a little careful here I know that people think that the market is just going straight up I think we're in a digest we've begun the digestive phase and I'm going to be I don't like to send that intraday updates I always find that you could do the same thing but even better the next day so I'm going to hold off doing anything but I'm just telling you that this is action that this is gotcha action with people thinking oh my god now it's going to the moon this morning again and all of a sudden we're pulling back so just real quickly I had a question could I follow up on what I've spoken about before we are long UEC is the one that I said I think is the best in the uranium sector the new high today in GCSE it's at 6.74 we're in at 3.64 and I said this every year there's this one crazy stock maybe one sometimes we've had two that we're in and it just keeps going higher and higher and higher and all of the the daily chart helps the weekly the weekly chart helps the monthly and the monthly chart is near the recovery high 6.60 was in April of last year it plummeted down to the twos and now it's at 6.74 I'm anticipating some kind of a digestive phase because of this pattern right here in the weekly but at this point you've got support at 6.03 how can that be in a weekly chart when you're at 6.74 you're expected to come down even deeper so I'm just saying uranium seems to be on its way this is the mystery thing every year there's one that just says don't forget about me when people start talking about me I'm in trouble no one's even talking about uranium at this particular point and we're not right to the right down here I did that did that did that did that and then I want you to do oh yeah so sure I'll do that so apple this is the big seven so you guys just candle that says there's a chance this could become almost like a rogue wave where you've got your signal you didn't really get your signal well the magnetic turn down with the on balance volume is good the relative strength is quite good and the 9 is over the 14 now this has to be considered a decent g it could be an alternate count because after g there's never an h if this is an instant I don't want to take too much time today it's Wednesday maybe I'll do it on technical Friday I'll give unconventional flat base restart which says however high apple goes in this particular phase right now the 186 level is going to be tested 187 level is going to be tested I don't want to go there right now other than to say I'm calling this a g it could be an alternate count but I'm just calling it a g for now and in the weekly chart it's in a grade egg b because oh no it's not like stochastics at 91% this isn't a and this is a b blue meaning this is in a buy mode trying to retest the 198 20 through all time high looking quite good a rising wedge narrowing wedge in the in the weekly chart and monthly chart let's go to a amazon amazon right now also broke to a new recovery high over the last two weeks there's a peak and it's kind of stalling here now that can be an instant restart that is a peak that's all there is to it and I'm just watching it because these biggies are starting to pull back and we saw that dollar r u i which is the Russell 1000 doing much much better it relative to the IWM and that's important Microsoft today I hit 374 18 string 370 so you can see the 9 is starting to shrink it's still positive but above the 14 90s weeks casting weeks on balance one is back in the red for strength so we can all this is going to be such an interesting for the last segment of the show we'll do a little wrap up I got it yeah the gdx oh I didn't do the gdx I'll be back in a moment oh it's December Tigers that means festivities decorating spending time with friends and family and the TFNN Tiger dollar holiday sale don't miss your chance to receive a 20 30 or even a 40% bonus when you purchase Tiger dollars once you apply your Tiger dollars to your account you will be able to use them for any TFNN product purchase instead of your credit card visit the front page of TFNN dot com today to purchase your Tiger dollars don't miss your chance to receive up to a 40% bonus on your Tiger dollar purchase this holiday season every tiger who purchases Tiger dollars will also receive a complimentary TFNN Tiger mug with their purchase act fast this sale ends December 17 happy holiday Tigers TFNN educating investors the reality is that navigating financial markets can be risky markets can be chaotic and difficult to understand marketing the latest market advice can help you turn this chaos into a key for creating winning trades at TFNN we understand that it can be hard to find reliable market news that's why each of our market experts offers their very own market newsletter a must have tool for every trader out there striding to find an edge in today's markets TFNN newsletters cover every aspect of the market so you can analyze the market before you trade try any of our great newsletters risk free with our 30 day money back guarantee just visit the newsletters tab on the front page of TFNN dot com TFNN 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 dot com when you subscribe you'll get a weekly report from veteran day trader Larry Pezzavento on stocks you need to pay attention to and you can trust Larry's analysis after all he's got 45 years experience as a day trader Larry will also provide daily charts videos and data on the key markets that he's tracking expect notifications from Larry on market movement you need to act on at any time first time subscribers also get a 30 day money back guarantee if you're not satisfied let us know and you'll get a full refund within 30 days of signing up subscribe to the Fibonacci 24 7 newsletter today TFNN dot com educating investors don't forget you can listen to TFNN live mobile device 24 hours per day go to TFNN dot com then hit watch Tiger TV that's TFNN dot com then hit watch Tiger TV section let me say that arm holdings was an IPO ran up from the 50 level to about 68 and then tumble down to the 45 46 level and now it's trading at 64 but you can see this is kind of struggling it's a little toppy and it's a sideways rectangle formation they usually resolve to a little bit of a dip to the downside it's like a long rectangle formation so what's the 50 I'd say between 1658 is key support over the next week or two but this is one I wouldn't be surprised in the monthly chart since an IPO this is started the big move to a peak a maybe maybe this month I don't know I'm going to see and then a D to an all time high at some point looking out so I hope that helps so real quickly the GDX I'd mentioned yesterday you could some people want to know about it and I said oops I typed in the wrong place I said I'm going to wait a little longer maybe you could start a little nibble right here I personally I would wait or you could split them split a starter position a little bit here and then maybe a little bit under 30 I'm kind of waiting I think GDX is nice bounce today up 38 cents of 30.86 I think gold I think gold is in play and therefore I would like a pullback and how you play not all the gold stocks not everything but I would be selective but I would go into something along the lines of maybe a GDX as a kind of an overall thing but some of the stocks the ones that have done best at pullback that's what I'd be looking at in the meantime so with that I'm going to hand you over to Steve Rhodes now the Dow is only up 37 was up huge earlier on S&B is only up 6.46 is this a two-click session that means you start to think of getting out after two o'clock or three o'clock you could sometimes even hold into the low of the day which could be at the close I don't know I'm just saying I'm just looking at this as a real trap call that opened up beep beep we'll see what happens I've got a pull at least for a little bit I'll be back tomorrow have a great day and check out my opening call dating newsletter