 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 Hello Basil Chapman here on this Friday a very ugly Friday does down 710 This is the Tiger technicians. Oh, let's go through what we need to right now. We're looking at the dreaded H pattern What is the dreaded H pattern? I should have suspected that once we broke that support yesterday at 22,509 That there would be a follow-through to the downside doesn't mean to say we have to close Horribly although right now it looks horrible and we're gonna see if we have a one-to-one to the downside today Most importantly, let me just show you the pattern that I'm looking at here This is called the dreaded H pattern Why because you can see in each of these arch formations that looks like a lowercase h straight down tries to rally Fails at either a peak a or a peak b and pulls back and takes out the left side low That arch formation says looking like a lowercase h that if it takes that left side out Got to be really careful and we've seen that we actually saw it many times in the one and two minute charts early this morning Look, you can see this in the E-mini Look how many times this happened. So let's just go to the two-minute show. I can go to the one-minute shot One-minute chart look how many times we got all these h patterns b minus a minus a minus a B goes to all the way to a doji c and then it pulls back each one of these is the arch formation And we're gonna see if there's another one now at 39 and 15 in the E-mini Let's get back to our story what we're looking at technical Friday So let's do some of this on a purely technical basis The technicals were fabulous all the way through until about three days ago Look the Magdi was strong not as strong as it was before but very strong sarcastic was flat at 86% actually almost 90% and flat very good So invariably when you get a smash to the down select side like this. It's usually part of an Economic report that just wax the market Because the technical side said it should hold and it should hold maybe it's a little underneath this nine-period moving average Instead it plunge through and now you can see it's got an S and that S is for sell We finally cross negative so quickly from the nine going Above the 14 to the nine going below the 14 period moving average. That's number one That's the data chart the Magdi is just turn negative It was so spectacularly positive just the other day this stochastic holding beautifully now It's down to 75% below the 80% threshold on balance volumes would be fading miserably and the relative strength is still pretty good So this is a news related two days of consecutive news yesterday was the What was at the jobs report was a little too high and today? Of course to see the consumer price index are being high. Mmm. That's all it needed There was just a chance that maybe the consumer report Was just a little bit better than anticipated because it was announced that it would be bad especially when the administration says that then you then you're expecting maybe it's a kind of a To to the actual announcement and preempt that whole aspect of the of the negativity It was bad enough for the market just to cap down and we've got a We're only half an hour 35 minutes 40 minutes into the trading deck. We've already got a marabosa candle No wicks caps down and goes to the low of the day right now down 762 at 31,510 in the doubt You've got exactly this and you can see the weekly chart nine period moving average pink Was so close to getting near the 14 period moving average as a positive And now it's it's deflected lower not good. It's stuck in the trading band to the downside a down channel We're looking at the s and p and this particular instance the s and p has a peak c Probably going to go to a c-minus and 41 77 after a really i mean 38 10 to 41 77 That is really a good move to the upside and now look at this giving back such a big chunk of it and the weekly chart Didn't even get to the 14 period moving average. It looks terrible and that monthly chart Still is within the candle of last month um a long legged wick To the upside and downside We're into the middle of it. You remember my rule of thumb in this particular pattern when you go halfway into the wick Uh, that's another good sign because if you go there in a shorter time period in this case, it'll be a daily chart There's a really good chance that you're going to retest that low of 38 10.32 that was made back on the I should get the date exact The date was the 20th. Yeah made the 20th Let's go on q q q one of the reasons why for subscribers to moment and call This is one of the highest cash positions we've had in years And I I think we're getting really close to being to finding some stocks. We had one today That's pulling back sharp. Yes, I anticipated But it is a very nice chart formation. It's in the whole construction area, but it's really to do with infrastructure There are stocks that I'm liking But I had mentioned one before that had done very well And I wasn't sure if it was going to be an alternate count or whether I should just take the count as a peak B But I'm calling this a peak f slash b with a doji candle high in iBM having done beautifully from 125 to the 144 area In just two three weeks and now it's given back almost half So I'm just going to have to suggest that the week the daily chart has got a doji candle high that is not A brand new peak b but an old peak f because on the low that was made at 125 it didn't break a key support level of The 13th of april law of 124 91 So with that said That's saying that the weekly chart is still pretty positive But it could pull back sharper after the cup formation left side right side price time match A little late and just under the 145s target And the monthly chart is still not bad. So there are stocks that are saying Keep an eye on us. We've had huge multi-year Decades in fact some cases in iBM's case Consolidations and we are ready But we have to be ready with the market and one that I did like but I haven't got any position But I I did like it because I like what was going on But I needed to wait until early next week to say what is it doing is salesforce.com 3 11 25 was the high in November plunges down to the double bottom at 154 Rattles back up to the 193 area and here it is at 178 Is this just saying to me? I don't have enough strength I can't get out of the down channel in the weekly chart But I went there certain stocks. I want to keep my eye on for this particular phase But we will go in very slowly a question Hi Basil, do you to the indices need to be flushed out since they were going up with different peaks? The rut was at e In industrials the Dow was up and an a sb was a c I need to be more orderly In a in a sense you've nailed it. That's absolutely true The rotation that I've been talking about is the same rotation rotation we're talking about in the When I look at tops tops are usually Alternate remember March of 2000 Was the s&p but January had already seen the top in the Dow and we've seen tops like that Most of the time when tops are very coincidental very close together Then it's a shorter term sharp pullback But when they rotate and that means they come down They form their own highs and their own rhythm, but when they make lows they make lows Like the wash In a time of booming inflation we are purchasing powers eroded There's no better place to protect your hard-earned money than in gold This the gold's flagship asset is the Monk Todd gold project in the northern territory of Australia This is Australia's largest unveloped gold project We are talking a world-class gold project in a tail one mining district This is a large-scale low-cost project with significant existing infrastructure in a politically safe and friendly mining jurisdiction This the gold just completed the Mount Todd feasibility study Which resulted in a 7 million ounce gold reserve in a 16 year mine life All of this combined with the approvals of all major operational as well as environmental permits This distinguishes Mount Todd as an attractive dearest party ready development stage gold project This the gold trades on the new york stock exchange and the symbol vgz Are you looking for a way to consistently add winning trades to your portfolio? 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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 Call now toll free at 1-877-927-6648 internationally at 727-873-7618 How about so just yes in terms of that question Tom O'Brien? That's that's a really good question But when you're in a retracement to the upside After a low that as I said before it's a low. I don't see this as the low at all the 20th of May low Even that was a coincidence low They're just too many signs that say that the work needs to one of the reasons why we've raised cash and and go One of the biggest cash positions we've ever had for subscribers to an opening call Is that I believe that this is going to be a refresh and that when we make A really substantial low in the market We're going to be we want cash because there are going to be so many positions You won't have enough money to put in when you finally say this is the low I want to put money to work and even then you don't have to put it all in one shot So yes in this particular arch formation the dreaded H pattern It's the arch itself that is really a significant the only reason why I was anticipating that if there was a Chapter wave stalk leg formation in that 32 509 low wasn't taken out We could have a pop to the upside But even then I said that 39 900 level with the 200 pre removing averages That's going to be really tough to break So it was more looking at trades to the upside And I will still continue to do that But I think we're getting closer and closer to some sectors at least starting to find some kind of support And we're going to have to be very selective. They look you can't even so let me just finish this up So the Dow. Yes went to peak a the s&p went to Right here peak c But they all had the same The same rebound pattern that it wasn't a huge move the biggest move would have been if the s&p could get Halfway to two thirds from the low that was made at 38 10 on the 20th To the high that was made april the 21st, which is in the 45 12 area I mean that that would that means it would have to break the 200 pre removing average of 43 13 So these are rebounds that can fail So there's a very big big difference between getting a major buy signal that says absolutely We should get pd and even recycle to a second d this that's different And that's the reason why I've been trying to to to be so Cautious about it. Look for qqqs Could it make a double bottom here like Head and shoulders inverse head and shoulders with the low of the roundabout the 12th of may then the low of 281 on the 20th and then a low somewhere here in the 289 to 286 area and then another big arch formation Yes, that's a possibility. I one of the reasons why I didn't want I didn't I decided I wouldn't grab the short position what I should have done should have could have would have but I wasn't my thinking But I just I didn't expect it yesterday that the move down would become so accelerated and go through that 22509 level 22509 level because what I normally would have said if I was thinking Thinking through to say well, we are so vulnerable yet anything can happen I would have said grab the dog one to one short If we trade underneath 22509 and let's just deal with it from there And instead and then you would have been in a nice position So this is what I'm looking at if you look at look all of them xlk Went to a pb and this could be the second b minus here as it fails as the sbc x spider fund Yesterday, you remember on my show. I said it's kind of holding but it needs to and I gave those levels to watch on the left side I said if it takes out these levels, you've got to be careful. Okay. Yes, the other one smh's That is on the way up and down for decades. Now. It's really leading us on the way down. Look at this down 7 and 225 30 So that's a big issue and a big problem because you need the seven remember semiconductors or the equivalent of uso of the oil For all the decades and a hundred and more years where all has just been a predominant Part of the equation for the us economy for the world economy It still is although it's down 61 cents the uso is down at 90.46 at a pd in the daily Is this going to be an alternate count e slash c in the weekly and a late e in the monthly All I can say is a high level consolidation if there's any consolidation at all But look at crude oil crude oil is a little different pulling back 34 cents. He had 121 18 Just stuck 123 18 on the continuous contract underneath the 125 83 level And I said remember this is the pattern the rectangle pattern the chaplain wave that forms a lopsided cup formation They can go to just under right on just above the previous flagpole high. That's 125 83 Let me just double check. They haven't smoothed this out change the price Everything else is correct. Maybe yep. 183 125 83 And we'll be watching this very closely and it says even if there's a high level consolidation It could be a lot could be 20 20 points down, but it's still in a high level So I'm looking at this and saying we don't want to over anticipate anything But you do want to over anticipate Cautiousness because that's absolutely key here uvx higher. Thank you. Let me look at that uvx higher hope to Terakoka you played that oh, look at that big gap up at 14.72 up a dollar 17 up eight and a half percent Don't forget folks, you know, it's fascinating because we've got Thomas Ryan. I'm sure he's having a ball at this particular period Uh, this kind of market talking about all the different techniques and how he uses volume Volume comes in volume goes out how you can use the different vertical aspects of how you measure What happened previously? I like to do that using both on balance volume But also using the technicals of the magninistic stochastic So it should be a fabulous webinar going on right now as we speak. So the uv x y Up against resistance here 14.73 breaks that 15 is the 50 period exponential moving average Next resistance on the way up and the vix itself So this the uv x y which is the pro shares ultra Short the vix index is up 8.56 The vix itself is up 11 percent at 28.96. What a big breakout and now you can see what I like to do I join these lines Uh, it's so easy to do you to take the line extended to the right Take the line extended to the right and you can see that this is going closer. Look at that closer and closer to the Um, uh chat wave inside track repellent zone And that's going to be really important held beautifully the 200 period moving average of 24s I've been talking about it for two weeks now And all of a sudden it's going from 24 to 28.97 the high of the day I wouldn't be messing around. That's the reason why I've I felt absolutely It was incumbent upon me to as much as possible Get cash for subscribers. Uh, we're gonna have, um We're gonna have our choices, but we will still treat them at the beginning right now in this phase from next week I believe is is another phase we're looking at and we'll still treat them as shorter term trades in the beginning To see if they can get some Attraction now looking at the um, so yes h y g a lot of talk about h y g Over the last few days. This is the junk bonds. I shares i box dollar high yield corporate bond etf Wow corporate bond etf goes to a leg f in the weekly weekly chart just Couple of months ago. It was up in the 80s and yeah, it is a 75.72 down $1.23 Single leg h in the upside junk bonds. Wow Yes, that is done Uh, this is the Eiffel Tower straight up straight up uppercase a path and now we've taken out the left side It's like a very sharp, uh, generate of your right back down to 773 and 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 metals 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 xa u h ui gdx as well as more than 30 different mining equities To see for yourself the types of profitable trades that are recommended within the gold report Sign up now by visiting t fnn.com Don't miss out on the next great gold trade sign up today Tfnn has just launched their new trading room 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 And now they are expanding their reach with the tiger's den available to all tigers and tigers for just $1 for the year There's no cash or added costs when you join our community of traders in the tiger's den You can look over the shoulders of tom o bryan and the other tfnn hosts while they analyze charts during their live tiger tv programs And join an interactive trading community with hundreds of members exchanging ideas Interact with other tigers and tigers as they share trading ideas news analysis and discuss the market action all trading day Even at night and on the weekends the tiger's den at discord is accessible on mobile or tablets as well So it's always at your reach to sign up today to become a part of this educational community of traders Just visit the front page of tfnn.com tfnn is excited about our new software charting program the art of timing the trade charts In collaboration with tom o bryan and using his best-selling book the art of timing the trade your ultimate trading mastery system David white has programmed an outstanding piece of software that will complement any trader's methodology Using this first of its kind program the art of timing the trade charts allows you to scan thousands of stocks for fibonacci formation setups Including gartlies abc's butterflies and much more the art of timing the trade charts is designed to help you When scouring the markets for stocks just beginning to form the trading patterns that many investors spend days weeks Or even months searching to find and right now we're offering licenses available at only $79 a month We are so confident that you're going to love this new charting software that will even give you a 30-day Unconditional money back guarantee don't miss out on this incredible new piece of software Get your copy of the art of timing the trade charts today by visiting tfnn.com 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 Now it did go there was a brief moment Look at this long rectangle for me. It doesn't look like it now, but look at this from 7 30 this morning on the 10th at 7 37 All the way to just as the news broke at 8 31 Look narrow narrow range and then kaboom And now look at this is one of the techniques. I like to show subscribers sometimes a little difficult to Do when you're in the middle of the move because it's oh man now it's ready to turn But look at this pink when the nine period goes under the 14 period moving average It's been pink ever since 8 31 this morning. There was just brief three bars four bars of green at 946 when it went to 39 52 on the e-mini and then At 9 50 it was back to pink and it's been pink ever since and now what you got is the mag d rallying The stochastic making a higher high and this is the first time there's a chance you could get You could get another green in the one I'm doing one minute chart folks And don't get too carried away the green you could go green and have a bit of a bounce Very oh so so gt sends a an email saying Crash s and p where was it? Where was it? The hyg and then a crash with the es I think this is very different. I think this is insidious That we have the test yesterday was really the test today's the follow-through And I suspect that what we're looking at here is something very different We're not going to get crashes. Maybe at the very final when we get that final Kind of waterfall cascade the last 15 or 20 percent in a in a in a daily chart that just Really collapses to the low and then we make that v-shaped turnaround That's going to be different. So the reason that I'm saying that is that if you're looking at I don't think you get a crash when you've seen so many Stocks first of all under the 200 period moving average and when you've seen so many stocks have 60 70 80 and even 90 corrections I I think what happens is you just see an insidious series of low lows and lower highs Until eventually just this there's no one left to to buy and that's when you get a most fabulous buying opportunity A cycle that says this is now just not just a short term. This is one that can really last That's number one. Number two is the whole idea of new highs in 2022 I've been saying for so long That when you think of all the news that's happened up until now The monthly chart of the s&p has held unbelievably 48 18.62 was the high 38 10 was the low 700 points in the s&p that sounds like a lot, but actually it's going from 21 91 in march of 2020 to the 48 18 level So this is just so far. It's only about a third. Let me do it by eye Uh, yeah, maybe more than about about two-thirds Two-thirds from the bottom I I think that what we're looking at here is as we get into the To the later part of June, maybe early july That's where we get the real test. Do we get a very oversold? I think we're going to see a series of these oversold lows And they just give you give you a breather to the upside I was hoping that this breather was the one where you could really get we would get aggressively short And I missed the opportunity yesterday because the moment we took out the low of 22 509 that was the ideal time to see how we how deep we can go in this Maybe too early next week until we get very oversold And then we get another rally. Do we make another rally that says the s&p makes a lower high below the 41 77 high of two weeks ago And then we make a lower low yet. Is that what we're looking at a series of series of series of lower highs and lower lows I think that's a much greater chance Than looking at The crash The everything about whatever I'm looking at here does just not signal. Let me just do this I'll do it for my subscribers I I think I can do it tomorrow I'm hoping I can My my market overview if I don't do it tomorrow, I'll do it on sunday and on monday I will be doing my show eight o'clock to nine o'clock Grandson is going to Be graduating from middle school Probably graduated really well from skating Skating school, but yeah, so we're gonna be there in new york for a few days. So I'll be Tuesday, I will not do my show at all Wednesday, I might be able to do it remotely. I'll see but in the meantime back at the ranch You can see what I'm looking at. Look the ice is the wood ice is global in timber forestry Etf you see this long rectangle. You remember I spoke about the chaplain wave oval pattern Well, there's something else and uh, general lion asked me a couple of days ago How long can you go in a stored formation going sideways? And I said we're just about done That was as I said we're just about done. It's By by within two days. We should be finished this and breaking one way or the other Well, the other pattern that and now that's negated But the other pattern that isn't negated is this very long rectangle that says you can go sideways If you don't break out significantly back to the upside but instead break to the downside Which the wood ice is global in timber forestry etf is finally doing Now you can get yourself a one-to-one. I'm always very conservative. So 98.98 was all-time high And I'll just be I'll kind of go to this area right here 98 down to 80 83 So that's so let's call it 15 points I will take 15 points from the higher of the week of the 40s a weekly chart 14th of january At 95 so that takes you down to 80. And where are we right now? We're at 81. So that would be my first one-to-one from there I was already done that once so if that gets broken, then I can Then I lower it and I take either a moving average or a gap or a tiny doji candle And I'll make a measured move and that probably would take me down to 79 next So 81 58 right now look at the turnaround in the h y g h g x That's the Philadelphia housing index I'm making the dreaded h yet again over there if it takes out it doesn't have to close under but just takes out the low of 372 96 is a 387 81 right now. Let's yeah 387 00 If it takes that out that says lower lows and lower highs for the Philadelphia housing index And look at the yields the yields almost the 32 point 3.277 32 77 for the TYX that is the right there that is the 32 Oh 30 202 wait a minute. Let's just get that right There it is 30 202 Oh, that gets no 32 77. There it is. So 32 77 And what we're looking at here is we're at 31 96 So we are so close in the In the 30 year yield going upside. So this is something to keep in mind now This is something I want to bring up at this particular point. Remember I said, are we matching in this phase right here? Are we matching this phase right here? Now I have to say there's a there's a chance that maybe not So a lot depends a month is not even half over The tenth we've still got to go to the 30th there. What is June 30th? Yes, that is two with Thursday the 30th So let's see what happens by the end of the month, but I suspect that on a very short term basis Um, we are becoming quite oversold and that they could and that's what I'm saying I don't think crash. I think a series of deep corrections With lower highs and lower lows until we make some kind of a bottom I must say just on a purely technical basis I think we're getting closer and closer to making some kind of a bottom that Is way more tradable than just these two to week aeronics But I we have to wait. I don't I don't want to be impatient. 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That's 727 329 83 22 call us today 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 ships 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 in 50 cents Sign up for Dave's newsletter the technology insider and get an inside look at everything the technology sector has to offer Try it 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 smp biotech three times bull and bear etfs visit direction investments.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 eight six six four seven six seven five two three 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 vista gold traded on the nyse american and tsx under the symbol vgz i know so a couple of core questions came in i i i got this Stockless, you know, i don't know what a stockless does right now almost everything is going down But let's just do this on a few technical basis. So a couple of questions one i'll go backwards um Basil thoughts on these dreaded h's the dreaded h remember that's the straight line down and then you make an arch formation And it's faded peak a or b and you go to a lower low and hold below the left side low And then it can do another one I keep doing that So actually turning into successful tests that hold what would be your sign? So the sign is usually a cup formation What happens is you get your h and then you start to move higher, but There's a whole but there are a bunch of Technicals that i look at for instance You see the way the magd is read it's so sharply And you see that there's nothing here in the in the price It hasn't moved commensurate with the move if i was looking at this and i didn't see the price and you said to me There's a stock that's trading at 10 We've just moved up in the stochastic from minus whatever it is to positive Um in in the magd and the stochastic is holding above 80 percent. Where do you think it would be? I would say oh man, it was a 10 I would be surprised if if it's moved up three points to 13 But in this second instance. Well, you haven't seen that so what you need to see preferably I want to see from a low in the magd crossing positive and a stochastic because if it starts from a high Then you have to have a catch up in the price Very quickly before it fails So you would see the scp now 39 14 50 You would see it very quickly see this trend line that i drew to have went inside Wedge target resistance line. It says buy about Well, what are we in now? We're at 1044 am eastern time. It says that a oh no, that's even i mean too generous I'm gonna have to lower this It says and it will take even more time. It says that buy um in the next 10 15 minutes It should try for 39 24 and yeah, we are 39 15 5 points higher It could do it because it's holding the line Remember I said you look at the pink nine pin moving average has been so negative There was just this brief four minute run with a green now. We've had this green now. This is way more positive So this is exactly the sign that you look for the test on the left had very negative Implications right here Right here at this particular low Look, the stochastic was way down there and the mag D was hasn't yet crossed positive Now when I do the vertical tested at that pb look the Mag D has rallied you haven't got price movement So it needs to catch up very quickly, but the stochastic holding over 80 percent. That's what you want to see On balance volume still very weak, but look the gray rental strength is moving nicely So oh this has gone to a leg C as i'm talking here So it's gone to a C and look at the space now you want to see shorter time span Look at the space between the a and it goes one two three five seven eight nine 10 11 12 bars before it makes a peak b then it goes one two three four five six seven eight nine bars So far nine bars for a peak c Um, we'll see with another 30 seconds or something to go. What is this now one minute chance is uh And then nine seconds to go or something So that's good if it pops up this still remains c if we can just pop up a little bit come on come on Let's go you got three seconds or four seconds to go Otherwise you're making a peak. Oh you made a peak. So that is peak c of 39 to 2.75 Now you've already got to a peak c and that says wow you've got about another 10 minutes to go for that leg c To which is at a peak c to become And you're one speed now you have to contract the the the space between the rest period And the peak has to be way shorter in fact in the next two minutes. You've got to be above 39 22 75 because we're talking about the one minute shot But everything here applies to the same thing in the day I'm suspecting that in today we can have a really nice rally Maybe to the 342 level and if it can hold there for more than um 12 or 15 minutes a good chance of eating 39 52 And then we get the story do we sell into the clothes for the weekend or not next question We've got here is the sco where the sco is the short two times short. I believe the oil Well, I looked at that this morning. I thought I'm ready to do this But I don't I don't want to take any gambles on stuff that really over the tree I know I don't want to fight the trend. So crude oil now is down 232 at 192 22, but sco Duffy. Yes, absolutely This is the one that was going to be my trade of the day and I thought, you know, so much going on Don't be a hero. You can't do that. So yeah, we are up 83 cents at 19.14 the sco is doing very nicely 1952 is the pink nine period moving average which is way under the 20 point 26 14 period moving average. So this is a start to say and this is what I was thinking What if we suddenly get crude oil acting already weak into Tuesday not just sunday night monday, but into tuesday. What if we get the dba, which is the dba agricultural fund, which we belong since the 13th taken a few bits off and hit 20 Just on 23 and now it's a 21 96 I think this is taking a digestive phase. So that says to me You've got to be careful. Look if I go to wheat does wheat peak seed Look, I said, this is a peak seed with everything about it says to me It looks like a D what it has gone from the 1280 level down to 1057 right now and look at the failure pattern in the weekly. I think that I think the grains Yes Great the soybeans continuous contract at a peak D If there's none you're high today looks very much like crude oil It's pulling back 17 and a quarter at 1751. I think this could pull back look at kahn thinking of tomah brine right now right now where he says kahn that's the Boston Accent we're down five at 767. It's kind of stalling here Soybeans is all part of the contract the dba the agriculture. Look at that sharp pullback and soybeans I sugar. I'm sorry sugar continuous contract So there's a chance we actually start to see an amelioration of the inflationary aspect And the market likes that and then later on we find out. Oh, no, it was just transitory actually the only thing transitory now are the Slight pullbacks that we get in the commodities because most of you're getting to higher highs So that would help. I think that's really kind of what I'm looking at As the chance to do that to have Another one of those rallies, but a counter train ready. So the next question I had was where did it go where did it go? Oh, there it is Square Square is making the dreaded H made a peak C Stuck in the rectangle formation at the bottom Who says you could go towards right on or just below the previous low of 65 10 on the 12th of May This is square block formally square point of sale soft reminding It helps manage your seats. Oh, this thing's terrible down five 71 There's your dreaded H pattern. So We we just not seeing any relief. Oh, let me look at travelers I just wanted to go to one of our the Dow stocks TV L travelers tv r tv r trip trv One of those days trv made a peak b failure generation pattern. So even in the insurance, what about true? a potential Generates all of them everywhere you look you've got these generators on a very short term basis It looks to me. Let's see if you've got our leg deep Nope, I'm good. Oh, we're gonna see one seat I'll be back in a moment. Sorry No, I'll be in there right now. 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So just let me correct something here that actually turned out to be a key in the one minute chart I missed one that was my I was busy talking and I didn't see it So this is e and in the time constraint from the left side to the right side to the low that was made the doji candle at about 10 24 we've used up so much time You remember what I said I don't like it when the mag d takes all this time and rally so sharply without the price movement because remember the mag d Essentially look at the green line that almost always look at the green line that almost always Outlines your price movement That's the nine period differential So in this particular case it's used up so much energy and it couldn't get it did make the cup of the bowl formation But it hasn't broken out at this particular point Maybe you can still do it in the next few minutes, but you you've run out of time to get to at least The up channel wedge resistance level 39 29 We have 39 21 so quickly. Let me do this because a quick question came in What about the rest of the month? I think the rest of the month says we're getting extremely oversold There are some stocks that look like they're going to be test real test cases to say Are these the areas you want to be in for any rebound and then just take your money? Just you have a nice move five three percent to seven percent up Maybe more and then take your money off and you keep doing that at this point I don't see anything that I want to hold longer term. No crm. Yes, I sorry crm salesforce.com Still needs quite a lot of work today's weakness says it needs work But it might be one of those but just keep you on some that you really like and then the idea is Don't think you're going to make up all the money that if for anyone who's lost money You're going to make it up in one show just put a little bit of money to work and if it works That's great build up a kitty don't build up a minus kitty You want to have a cushion for the next big major biasing Um, so what I am looking at here is The guy was down 683 How we close today really indicates a lot of whether we have a good oversold down some Monday Tuesday Going into the end of next week and whether just to make the lower lows and lower highs at this particular point Just be very sketched be careful to best Stay tuned. You're going to have a good event