 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. Good morning everyone Basil Chapman here on this Friday the 23rd of September we got a week to go and then the month of September wraps up look at this chart here we're very close to making a leg seat down in the monthly chart of the Dow the load today is 29,643 so it has taken out the left side low of Jew which is 29,653 so let me do this as a kind of a quick overview and then there's a lot of things we will go to a number of people are asking to look at the particular charts which are very important to this particular point which includes the semiconductor index our estimators the ETF so the Dow down 392 I'll just quickly show you the chart formations so chart formations haven't changed you still get your arch formation in this case going to a PG in the one-minute chart you still get your left side right side price time match you still get if there's a break of the left side low within two bars or three bars if it doesn't break and close above it you can go quite a bit lower we've just seen that on a very short term near term I'm doing about the one-minute chart we're real close to a little bit of a balance here making the 3698 level really important in the e-mini December e-mini and any move that holds above for five minutes can move above 3718 then touch 3722 sorry 3720 says that in this time frame during my show we could be a touch of the 3724 200-period moving average again but we'll just have to see that that occurs okay enough for that now what I want you to do is this I'm going to go backwards I'm going to go from the even though there's a week to go I'm going to go to the monthly charts and say we've started leg C down in the monthly chart of the Dow and I'm still going to say at this particular time 10 08 a.m. on the 23rd of September 2022 excuse me so we're still not good enough yet remnants of this COVID most importantly what we're looking at if you've spent almost nine months in this consolidation this monthly chart so far is still great that means that any further deterioration starts to open up areas that there are no support levels in so you've got to be really careful that's the Dow I'm looking at the monthly the weekly chart got repelled in the arch formation the dreaded age formation that means we've got two weeks to close maybe three but I usually say two to close above the 29 thousand 653 low that was made the week of June the 17th and this is okay good now you can bounce you can bounce to the the resistance above or a gap or a candle but you're probably not going since you've gone below the left side though you're not going above that 34,281 high of June I think was June the 16th so August the 16th in this particular move okay let's look at the S&P because I wanted the big picture and a lot of questions came in within the patterns that you always look at what are the most important patterns that are relevant at this particular time especially with the weekly close Friday today at four o'clock what are you looking for well I'm just gonna first of all say from the acceleration down look at this we've got just a very minor trough D since the high that was made at about the 32,200s all the way down so we haven't even had a decent trough if you look at the S&P it's the same thing just a little minor trough E and now we're in an F to the downside the MACD is very weak sarcastic is now at the area where you can start to expect some kind of a rebound at 5% the unbalanced volume though is the one that's saying to me we are really close in an oversold oversold condition the question came in why are you not talking about a buying opportunity rather than you keep saying that for subscribers to open a call we are so short and we might be trying for a little tiny long positions but with very tight stops and you've raised a huge amount of cash why aren't you talking about putting the cash to work because you have to wait for certain thing you have to have a lot of patience in the market you can't have the preconception that says hey there's a fantastic buy coming up I'm just loading the boat as soon as it even then there are certain conditions that we want to see what I would like to see today is that the market closes lousy it tries to rally and then it just fails at the end and then over the weekend you just get this plethora of bad news inflation stock market how's your portfolio doing they've avoided that a lot lately and just up until about a week or so ago it's just started to come into effect when you get the general population and you get your local newspaper saying oh inflation this inflation that then you're getting close to a pretty decent not just a short term but more the the magnitude of the bounce I always say that the last little bit going to a v-shape low you can see sometimes 15 or even 20% down and then you get the v-shape bottom and it rallies back up but you have to go up very sharply to erase that 20% down so this is exactly the moment that I'm saying we are right on the cusp of being coming so oversold that there's going to be buying opportunities but I went through the entire XLP and we get all the different indexes but this is part of what I'm going to do today the XLP which is the S&P select consumer staples spider fund and I have to tell you most of them were looking like this most of them were very much lower yes you have a couple and I mentioned them to subscribers this morning that be watching very closely I mean how do you play a GIS which how silly that was three days ago when it was down in the 75s just even for a balance would have been a really good position general mills foods just for the moment they're still able to ameliorate some of their cost by you know pushing it on to the consumer and a certain way that's going to stop but look at this it made an all-time high it popped up yesterday went over 81 today said 80.44 the weekly charts in leg E the monthly charts in leg E but how do you play this I mean there's a bit of a risk here because you could get it and then it just has a very normal breath you know just a breather it takes it takes an inhalation and you see it dropped down below the gap up from the 77 level and it's trading at 80 so that's a big that's a risk so it's very difficult to know how to play even the areas of the defensive this is defensive XLP's consumer staples defensive so I've gone through all of them and there are a few that look like they could work but it's kind of tough so I'll be back in a moment let's see if we can get that bounce right here in the evening yeah a little bit of a bounce leg C big deal as I say I would like a lousy close and then a horrible early Monday and then they make a nice recover for a few days or this to gold owns and operates the largest undeveloped gold project in Australia the Mount Todd Gold project this to gold just completed their feasibility study resulting in a 7 million ounce gold reserve this to gold has all major permits approved and has retained CIBC capital market assistance in evaluating alternatives and in completing an accreted transaction Mr. Gold trades on the NYSE American and TSX under the ticker symbol VGC this to gold executing a strategy to create shareholder value are you looking for a way to consistently add winning trades to your portfolio Tom O'Brien is here to help Tom O'Brien has been successfully trading markets for over 30 years a frequent contributor to TD Ameritrade Network and CNBC Tom O'Brien founded TFNN over 20 years ago to help educate investors just like you Tom's daily market newsletter market insights is published every morning when the markets open to give you the competitive informational edge you need to succeed these newsletters are packed full of Tom's advanced technical analysis and are geared to deliver comprehensive strategies for a successful portfolio get Tom O'Brien's newsletter market insights today and try all of our products and newsletters 30 days risk-free with our money back 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of August day after the high very tiny doji candle and then it pulled back you had the island reversals all of those were compounding what could have been a sharp move down but we didn't know until it was accelerating for me the big thing was as the MACD crossed positive across negative on the 22nd that's the day that we started the short position via the DOG which we still have it's the space between the red 26 period exponential moving average just slow moving average and 9 period differential the green one that to me usually indicates and when it deflects lower so the question that another question came up the question is if I can get to it here okay how does the Jeff we've see the tide of the weekly charts short on a pop or go along on the dip so as I'm looking at this right now I believe we're getting to an oversold condition that says if there is some kind of a v-shaped turnaround and it really has to occur we have to get allows it closed today and then just horrible news over the weekend and just everyone's selling on Monday that won't be that'll be like the June something like the June low but in this particular case the question I have is right here is this where you would short the pop-up or go long on the dip and for me for my subscribers I'm looking at this saying we are going to prepare and we have already started thinking about what we want to do what is I have and I'll talk about tomorrow my market overview a video that I do every weekend usually 40 minutes maybe even an hour it's almost like a webinar but I like to do to be able to cover all the different areas that we're looking at why we're looking at what's going on just a good give a good sense of at least where I stand in the marketplace and if that's the case I would prefer initially there might be one or two stocks and we're waiting and waiting waiting for that could have a really decent a rally but if they are too expensive and not expensive I mean if they're too pricey in a triple digits I would much prefer to go to a lower price ones because you get the same you get even a better percentage gain if you time it correctly I want to still keep conserving as much cash as possible and we might go into the two or three times long position on a small position and just gone or as much as we can like we did before back in June gone as much as possible and then just get out and that's it and then have to wait so the answer is I would not be looking to show to pop up if it is I mean we don't even know I this is speculation that there could be some kind of a turnaround Monday my timing everything about it says between right now and Monday or Tuesday there should be some kind of a relief turnaround I don't want just a relief turnaround I want an exhaustion move to the downside so that it isn't just a pop-up it's a really decent right it's a rally in which you can start to think of okay is this the rally where I can start if I haven't got enough money out of the market it's just a time where I could start to think of taking money out of the market because the market is still so weak and there's still so many negatives those are the things that will be deciding on and the only way I feel I can do it for subscribers to opening call is to try to go on as much as possible in the quickest time with the least amount of money with the most leverage and you know what your stops are they'll still be the usual very tight stops but that's the way I that's the way I'm looking at it all right so I hope I've answered those questions and the three gap remember I thought it was one that I had initially said I had actually told the person who asked me the question I said call Tom speak to Tom because Tom does a lot of work with the three-gap play all the decades here he's always spoken those are the things that he looks at in great detail how do how do you deal with three-gap plays the way I look at it is I just treated as if it's a single it's just a notation continues p trough a then trough B was in the in the S&P right there at the 41 56 50s no 41 1997 low of the 24th that was B then it just popped up with an A minus because it went to a dreaded H pattern and fail so this is very important to me and as I said I would like a lousy close today going into Monday but wow if Monday doesn't turn into a turnaround day things are not looking good and as I say this is a very interesting phase because for I'm showing my my newsletter today when I sent it off it's one of the shortest news I've got I've got we've got just a few stocks to remain still long the still long the DBA the that's the DBA is the DBA agricultural fund still long very long term long that the Dow diamonds from 210.99 back in the 3rd of April 2020 we tried for two days to try to get the Dow with a 1% stop the diamonds just to see if that it was going to work over the last couple of days didn't work out done finished still holding the DOG we're out of Bank of America look at this Bank of America BAC is that ugly or is that ugly I mean this is we've had this is trade maybe five or six times over the last six years or so and we've had a really good gains and then would we get out as it made a high and it started to come back down until we're completely out and this time we were in for just a brief period we took a very small loss and I said no that's it we're done and here it is and leg each of the downside in the daily making the H pattern in the weekly chart hasn't done it yet but it's forming the H pattern and the monthly has gone for 50.11 back in the double top back in the February of 2022 and hit a low of 30 and now it's rebounded but it's now 31.51 so that's the XLF I mean XLF I want the banks to do well right now I don't I don't see how we can have a really strong strong rally without the financials participating especially when the bonds are down at 105.39 that means that the yields the yields let's go to the T and X look at this this is a leg D a leg E leg F it could be a recycle but I'm calling it an F for now in the daily chart that's a leg I don't know whether this is a G or a brand new move to that has to be a G that's all there is to it it's a G or an A in the weekly chart so yeah maybe oh oh oh I need to do this thank goodness I put these things these lines in so I can see them in the long term look at that trend line that I drew months ago look at that friend I'll be back in a moment I was just having cows down foot and this is the town 51 and we've got some stocks to look at this one 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 published a gold report with coverage of gold silver bonds the XAU HUI GDX as well as more than 30 different mining equities to see for 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your money watch online at tfnn.com or on tfnn's YouTube channel and become the investor you were born to be tfnn educating investors this segment is brought to you by think or swim for more information just click the think or swim banner on the front page of tfnn.com Hi folks so let's just look at the what we were looking at before which is the tenure did I just type that incorrectly yes I did tenure is the T and X dot X there we go so you see this orange brown thick brown line in the monthly chart whoops let's just move this one right here there it is that's the yield the tenure yield and I'm taking it back a long way and I wanted to point out that if you look historically we've been here before it's not as I've been saying for quite a while yes the interest rates are high but we've been here before and are the most important aspect about it is we've even been higher we've been at fifty three point sixteen five point three sixteen in the tenure back in June of 2007 of course it was October of 2007 that we made that top major top but we have been here it's the implication that the Fed is pushing and pushing and pushing and wants even higher rates that's the scary part number one number two is I'm hearing reports from people saying that they've got bills to say that the natural gas I don't I haven't got that yet natural gas is going to go up forty or fifty percent from November or something like that electricity bills are going high those are the things that are really scary so this is in the T and X yes we look like we're getting a tad overboard in the actual price itself because of this extension oh I've missed one that's I did a little too quickly sorry I'm gonna do that again that's a D you know that's right it is it is correct I just didn't type it in there's your D and there's your E now it could be a recycle Chapman wave oh it's not not yet an official recycle because it took four sessions to break above that peak D but this could be F slash B but it does say almost like the dollar look at the dollar I'll just go back to the dollar DXY that extension up I'm calling it a leg C it could be an F slash C but for the moment everything's positive 86% in the make in the stochastic MACD is good a 90s way above the 14 so so far I'm calling it to see saying that it's extended high and it's a leg C in the monthly chart in the dollar so I'm trying to put the the package together yet to say that there are a number of instruments that yes they look either very top you're very bottomy but you have to wait and to answer the question pop up or buy or sell I think you have to have the patients to actually see that that turnaround coming and it might in other words if today we suddenly have a big rallying towards the end of the day the Fed speaks at about two o'clock or whatever they do and all of a sudden you get a rally in the market is down 30 points or up 150 points I think then what you've done is you've delayed the potential for that that that exacerbation of the downside going into a Monday or Tuesday that's to really be a Friday or Monday it's usually not a Friday except for that March low that we got March the 6th of 2009 when we went along that diamonds via the options and when we very soon after being straight we added the calls so that that's very different that was in 2009 usually it's a Monday for a big turnaround a really serious turnaround and that's kind of what I'm hoping for here but hope is not part of the game preparation is part of the game so yes that dollars is a monster now I let me just go through the questions as I got them there was one question about first question came up could I look at where did it go yes could I look at was it SPO something SPO SP SPRO SPRO I forgot to write it down yes SPRO now this is Spira therapeutics man I'll tell you these micro therapeutics are able to go from the single digits the one or the two area just skyrocket this went from point 81 the other day to yesterday spike to three dollars and about three three twenty or so and today is training at 223 so the question I was what about it's in a leg E I think it's gonna probably make a peak E today and I wouldn't be surprised if it does do some pullback because this is very much news-related biotech stocks do that but just look at parameters what I said is the 210 level needs to hold just on the very I'm talking about on a 1015 20-minute chart that's where it needs to hold 233 ish would be very strong resistance and if at any time it's in the next day or so if a social trade underneath to 185 that's the low that was made on the gap up yesterday that's just gonna suggest that if it's kind of done for now and then it will take a little while before it recuperates and has another big spike to the upside next question I just want to go through these questions because I had the XOM XOM is the X on mobile multinational 105.57 was a high back in the week of June the 6th now in June the 10th of this year is doing the dreaded H pattern let's see yeah so this pattern starts off like a cup formation and then all of a sudden it stalls and now you've got to look at it very differently you have to say there's a chance with oil pulling back like this this is an economic story more than an oil story and you've gone smash to the downside you're just above the 84.42 200-period moving average at 85.49 down five points today alone 85.47 and I think as I said before a crude oil could be in play and the multinationals could be in play but I think limited upside and I'm going to have to watch the downside a lot but at any point they could have a sudden spiral to the upside but I think that the general tide the more the bigger picture is saying that both in the daily and the weekly charts there's a lot of weakness but the multi chart of XOM mobile is still looking great CLH CLH yeah this is one that's been on my list Celsius holding surmogen genic calorie burning beverages I read that was the question yeah I followed this for a little while but we've done nothing with it it did a hundred and eighteen point nineteen on the 25th of August I always have a terrible time you know we had a monster what was it monster we have we've had a couple of stocks that in this area of either calorie burning or doing something with some kind of a beverage and they have this history of flaming out they haven't spectacular moves and then all of a sudden they just gone and this is this head and shoulders of those beautiful head and shoulders I had even thought of it as a short and I thought well it's also a story stock anything can happen at any point stay away although now I think it has a target of 76 the 200 period moving average it's at 85 this is not acting very well at all peak D in the daily peak D in the weekly and leg E possibly and almost certainly in fact with the week to go that if it can't break above 98 it's a 95 85 right now I don't even have to say 98 if it can't go to 93 in the next week that's going to be a peak E with a double top with a lousy technical picture on the right side so yes I don't do not like CLH next question I had was CSS CHW this is one that's on our list this is Schwab it's actually holding pretty damn well when you think about what's going on yet 77 41 was the most recent high August the 14th pulls back to about the 68 69 area bounces up to 75 and now it's trading down sharply to down dollar 47 at 70 point 59 this is on my watch list because if this market does start to come back at any point the I AI AI AI and which is the I shares of the broker dealer index which is acting way worse than Schwab it doesn't look good at all it's an 87 93 99 I back on August the 18th August the 16th and yeah it is 12 points lower not good action at all and the monkey chart is also looking good so I would just say hold off on Schwab it will be one of those you want to be looking at maybe for a bounce on Monday but if this which is very 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 the Chapman wave up down sequence gives you an edge in identifying price turns finding the peaks and valleys and stock prices get the opening call newsletter by 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 the technology around us is changing every day with so much happening it can seem impossible to keep up with all the information David White's investment newsletter the technology insider is designed to give you all the information you need to understand the technology that shapes today's markets and tomorrow's future David White has made his living staying on the cutting edge of technology his weekly newsletter will give you specific recommendations for value tech stocks as well as entry prices target prices and stops to set for each trade Dave delivers his weekly newsletters every Friday with updates throughout the week you can get the technology insider at tfnn.com for only $37.50 sign up for David's newsletter the technology insider and get an inside look at everything the technology sector has to offer try at risk-free today with our 30-day money back guarantee 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 shares 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 principle 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 Vista Gold traded on the NYSE American and TSX under the symbol VGZ I'm going to go back to the Chapman Tiger technicians hour on this 23rd day of September Friday we're looking at the downdown of 147 points at 29,627 the SP's down 65 at 3692 looking at the email you can see it's just stuck in this rectangle formation just keeps making this W formation just cannot get strength and until it can start to trade for about 15 to 20 minutes in the 3717s the 3720 200 period moving average in the one-minute chart is still a repellent area alright let's get back to our story of questions that came in so yes I'm saying as a quick trade if everything turns around on Monday you could have something like a Schwab I I'm thinking that it's going to be risky to go into select stocks and maybe the ETFs themselves a generic would be the best way just initially to get in and then you can make decisions because these things have to hold working at SAVA because SAVA sciences a biotech stock at 42 36 down 870 down 16 17% made a high yesterday at peak D always looking for peak D in the Chapman the last one was back in August around about the 17th or 18th this one was yesterday on the 22nd at 51 by 59 this stock it was trading down the 15 to 13 area just a month or two ago and this is spectacular move a lot of short covering is a biotech and I'm just suggesting that I actually like this is a biotech but I like the chart action very very much even if it is short covering there are other things going on but it does look like there's a chance that over the period of the next week going to the end of next week they could be say it's at 42 26 now you could see it up to some kind of a digestive phase between 37 and 35 it's not impossible and that it would be best it does seem to prefer to take time before the next big move to the upside rather than just to continue straight up next question was is a time for lithium LTHM you know oh man how many times have I got to need to re-notate these things when my when my trade station shuts down suddenly unlike some other programs that constantly are saving even though I do save when it comes back very often it comes back in a different it's like the library and then the charts that I had that was saved a lot of them disappear if I haven't looked at them for a while and a new lot comes up and the new lot has some of the other old ones so that I'm always re-notating they are there somewhere but I've never been able to figure out how to get to the library slot that says this is the way the file that you were at when you got shut down but so lithium I'm watching it very closely it's a 30.38 what's the exact title title is live incorporation gosh I remember even the other day I'm notated and I wrote it up I had all these different lithium stocks let me just look at LIT it doesn't look exactly the same no it doesn't so the global ex lithium and battery tech fund this is acting very very weakly so let me just do this healthy HM I need to just make sure that I am talking apples to apples so let me just do this click and just type in what does dark LTHM do they are and it says little live end I love this I have to go all the way down what what does it do there we go okay live end is a fully integrated lithium company the company manufacturers lithium for use in a range of lithium products yeah so it's a one of the better ones there was another one that I looked at and there was also doing very much just don't have in front of me now my special sheet that had with all the different sectors and stocks that I wanted to follow so LTHM I like it it's it has a much better chart pattern isn't it isn't a leg possibly a leg F in the monthly chart is it at a B in the in the in the weekly chart the only way I could count this was to make that low which it was in July the low that you have to start the new wave count so it's holding steady if my the question came in from someone who I suspect already has a position so I'm gonna just speculate if you've got a position in it and it's from lower down I would just hold it for now let's see on Tuesday let's look at it again on Tuesday right now it's just pulling back as the market but actually it looks like it it's one of the very few stocks within a particular sector that is leading and is still holding very well I like it would I buy it now I just have to say 30.59 I would probably say I want to wait another day or two I'd rather be paying up a little bit than to buy it now when in fact it could gap down to the 28th on Monday if the market is because it's acting very poorly here it's down 3% on the day and that just says to me it could be a little bit vulnerable but I do like it it's actually gonna go on my watch I've really got it on my watch this but I'm writing it down again with a circle so I hope that helps you question came in ZTS as is that Zootz oh I used to have this totally notated isn't notated at all right now yes this is Zootz Inc and I it always sounds to me like it's a dry cleaning company but in fact if I can't remember what it does it was something quite important it made a hide about 250 back in December of last year is trading at 150 right now so this is one of those that I would put on my list as a watch stock I just don't think there's any rush to get into it right now so let me just see what does stock ZTS do here we go ZTS yeah there it is oh diagnostic research oh there are diverse manufacturers and commercializes animal health medicines oh right vaccines and diagnostic products you know I love this when I kept reading about it and it's the same with those chewy and all those stocks that are animal-focused and they have just been decimated and I can see I mean I look at my my office window here and I just every every hour of the day I see at least a couple of people walking their dog everybody's got a dog so this is the same thing with two eyes there this all notated and chewy is down at 30 after hitting the 50s actually it had an all-time high in the 120 area so all this is what I was saying to subscribers I've been I've been going through all the I mean hundreds of stocks and they all have to move up in unison to really make a difference and this is in the same category so hope I'm asking you the answering the question what about myrna yeah myrna is the same thing so I someone just typed into the YouTube Biden to announce 1.5 billion to fight US opioid crime crisis you know we are spending money a lot of this is that all the stuff is on the books they just need to be implemented you don't have to keep spending as much money you've got to use your your money wisely at this particular point so myrna it's this Eiffel Tower straight up straight down goes to 479.49 August of 2021 and here it is at 122 if that is a huge decline and it doesn't look like it's going to be helped very soon so no I think it's kind of done it was the largest use ESAC S&P CTS keep it on your list but I don't know how to go I'll be back in a moment thousand champion guys are full of you are you grinding in the market but seeing little to no return or are you a successful trader simply looking to make your job a little easier learn to take the path of least resistance with 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newsletter at tfnn.com when you subscribe you'll get a weekly report from veteran day trader Larry Pezzavento on stocks you need to pay attention to and you can trust Larry's analysis after all he's got 45 years experience as a day trader Larry will also provide daily charts videos and data on the key markets that he's tracking expect notifications from Larry on market movement you need to act on at any time first-time subscribers also get a 30-day money back guarantee if you're not satisfied let us know and you'll get a full refund within 30 days of signing up subscribe to the Fibonacci 24-7 newsletter today tfnn.com educating investors this segment is brought to you by think or swim for more information just click the think or swim banner on the front page of tfnn.com Hello it's Basil Chapman here and we're going to go to George and Boston hi George how are you? Good Basil how are you? I'm well thank you but at least I'm getting better let's put it that way I'm happy to play tennis again. I hope you get better with your cold there. What? I hope you get better with your cold. Yeah yeah well I had COVID actually so but I'm way way better now thank you. Good. I haven't talked to you in years Basil I have a question. Yes. On the wave count I've gone back to 2000. Yes. And on the SPY and SPX. Yes. And every single time it went down either to a B on the downside. Yes. Or a C. Yes. It bounced and it went to a C there was a positive C candle and then a rail but this time okay if you look at the chart on this round down you get a C and it looks like a negative candle not yet but going to a C am I right? You talked about the monthly chart right? The monthly chart. Yep absolutely and the irony of the whole thing out of all the charts that I look at the major charts everyone made from a D to an E F or even a G in the monthly chart only the S&P has made this B and that is totally fascinating as far as I'm concerned there's no other way to count it and you're absolutely correct in fact I've got it notated here most of the time it only goes to a B and then or an A or a B on the trough down on the downside and seldom does it go to a C and then there's usually a very strong rally so that's a very good point so you know what I'm going to do because we're gonna run out of time any minute now on Monday we'll talk about it and we'll have a very much clearer picture because who knows by Monday we might make that big C to the downside. Hey George very good observation thank you okay we'll be back I mean I'll be back for the news folks and then I'm out to have a wonderful weekend and just as Dave White would say stay frosty and we expect I at least I'm expecting some kind of a reversal early next week but how strong would it be is the question