 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 Hi everyone Basil Chapman on this Monday Monday the 25th of September we're looking at the Dow coming back a little bit from the lows of the days down 423 at 24,000 hey this is going to be very interesting let me go there I got the TLT up and I want to show you the Dow. Look the Dow at 34,172 down 412 if there is a chapter we have Roman candle closed today in other words you got a long week and the Dow closes above 34,250 it's a hundred points up from here and then tomorrow and Wednesday Tuesday Wednesday closes nicely above today's high let's just imagine the high for the day so far 34,459 that was also the open and it closes above that Tuesday and Wednesday that suggests that these moving averages of 34,687 34,812 could be tested but the most important thing about this is a suggesting that the weekly chart is really close to giving a sell signal and perhaps even an immediate upgrade and right now I can do this I'm going to say there's a much greater chance that we've got a PG in place in the weekly chart of 35,631 and I just want to extend this particular trend line right now let's just keep going up like that yeah we've taken out this major trend line what is this major trend line that's a trend line that goes from not below you remember for those of you have taken my courses you know that I don't like to draw trend lines off a low when there's a big spike off the low why because you could go up in a trend line and very quickly you're going to take out the resistance look if I did this and he has the low of 18,000 to 30 remember that's the day that we went along right here this is a March the 23rd of 2020 we went along via the options and then we continue holding the options are different with fantastic gains and we went to the diamonds and we still own those diamonds and not all of it but a good portion of it but we've gone short as well because on a shorter term you've got to take the play I couldn't I can't imagine how we're going to get back into that very long-term position because we're not going back down to 18,213 well in this move not even to the 26,143 low of October but it'll be somewhere maybe 32,200 who knows 30 who knows where we are but most importantly we're trying to play this on the downside as well so this trend line is useless even if I put it here it's useless so the trend line I like to take after a big move off a bottom is to go from a low that's pretty much either the next low that is made after the initial low like the the week of the 27th of March at 18,013 and then I take that low and I join a trend line and I just leave it it's like a long-term moving average you have to worry about it no until you get close to it while we're not even close to it all of a sudden bam within a couple of days you hit that line and you've actually taken it out and that's just not a good sign because it's suggesting with the manky very weak sarcastic under 80% at 65% on balance volume starting to pull back and the fact that the weekly chart is really close to seeing it isn't hasn't yet you can't anticipate you got to just say perhaps if the nine period moving average pulls back under the 14th period moving average you get to get a deeper correction we're ready for a correction the inner correction I would like to see it last a little bit longer and I do want to I'll go through some of the stocks in a moment so most importantly if we take out today's low today or tomorrow that's going to suggest that the weekly chart is going to deteriorate as well even if there's a really strong rally towards the end of the week once you've done this you said okay now you've at least got a little fester there you've got you've you've you've attacked what should have been support and taking it out it weakens it a little bit alright let's go on to the S&P S&P at this point is coming back a little bit it made a low today of forty three fifty six point two nine trading at forty three sixty six point eight five forty five forty five point eighty five was a high on the second of September now look at this the Dow makes its high much earlier on in fact the Dow makes its high back in August August the sixteenth at thirty five thousand six thirty one comes back down makes the pattern we call the dreaded age first of the peak A or B we went short we were long long then we decided to go short and we went short at about thirty five thousand two eighty two and now we're trading at thirty four thousand eighty eight August the sixteenth February February the second September September the second September is a high in the S&P on the second look at the QQQ which we are actually short we're short about a couple of days after the all-time high of three eighty two point seventy eight on the seventh see how you rotate at tops and at bottoms you get them remember March the 6th of 2009 on Friday where we went along back in 2009 we got the exact day of the low there as well and on the ninth on Monday was the S&P low well here we are in the QQQ down six point six at three sixty seven points fourteen this is a big move three eighty two down to three sixty seven and that's a daily sell mode weekly hasn't even given a sell signal yet nine news way above the fourteen make news just cross cross negative and the stochastic still good at eighty seven percent so there's a little early on but based on the chambering methodology doji candle and a peak D look at that now I just wanted to show you this for a second look remember I did this on the NDX 100 and I said yes we were rallying but I have to have alternate counts well it made a doji hide 50 50701 on the seventh and it's come down very sharply just like the QQQ obviously because that's a trading vehicle but look at the comp index COMPX that's how I get it that made a peak E now I can put the down arrow and what's really important about this is that I was I was talking about the QQQ then the chapwave formation that I discussed for a little while and I said there could be an alternate count and the alternate count took in a thing called the what I call the chapwave unconventional flat base restart where it does make a chapwave instant restart a peak D within three bars it goes to a new recovery high this is within two bars and then you can have an alternate count well it ran up and then it ran and broke underneath peak D that started a new buy mode in which a 352.04 on the 19th of July so I say we're gonna have an alternate count yet because this could be a pink D or a brand new B and then I had the alternate count well it turns out we had a combination of tops we went to the peak D a 382.78 but that flat base restart worked beautifully right there technique that I discussed in great detail is that some of you drink and while we're talking about the QQQ coincidentally we've got John in footage and see that hi John how are you just before we go to the break you wanted to look at got a question on those keys for your basil hole through the break the wonderful I'll be right back with John and fully we're looking at the QQQ the India in the X100 trading vehicle invested through trust series dollars down 490 I think it was 450 I'll be right back 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 market's open to give you the competitive informational edge you need to succeed these newsletters are packed full of Tom's advanced technical analysis in our gear 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 guarantee at TFNN.com TFNN educating investors what's separating you from the most successful men and women on Wall Street that's right information having all the information gives us the perspective we need to place the right trades at the right time the TAS profile scanner is the premier market profile base 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channel with Tiger TV live every market day from 8 30 a.m. to 4 p.m. Eastern for free each host is an experienced trader and gives their take on the market while taking calls and questions live from around the world from the moment the market opens until the closing bell sounds Tiger TV has eight different shows with expert hosts to help you make the right moves with 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 all now toll-free at 1-877-927-6648 internationally at 727-873-7618 how much we're back down 532 sbs down 72 and just real quickly before we go back to John just wanted to show you this I have a question about it this is the two minute chart of the e-mini this is the obviously is assemble one made a peak Ian Chubb wave the fifth highest peak and now it's pulling back very sharply all right gonna go back to John so John I've done a little bit on the QQQs already so give me your question please yes the question I commend you on your work Basil several things of course one in buying lows of bear markets and most importantly hanging on to those as a bull phase develops of course most recent well most recently the past 18 months you're buying the down near the lows and hanging on to it second I commend you on taking on your analysis that triggers your action in shorting the Dow and the Qs you know in the past three four weeks so and of course we all appreciate you sharing all that work with us my question Basil just on the Qs and the ndx and the the composite um not about your trade position taken on a couple of weeks back but as I look Basil at the monthly chart weekly and daily your Chapman wave labeling through the question with the last c on the monthly the e on the weekly you see it's a very major bull market top in place with a sizable bear market just getting underway that's the question sir actually that that of course is the question is the question that I've asked myself for quite some time and I constantly do an analysis and then just shove it aside and say no none of the none of the criteria we're talking about a major talk you're talking about is it is it one of those as we saw back in March of last year where the Dow dropped 39% there should be about 35% is it one of those and my answer is that there isn't there still isn't really any other place to go when the Fed keeps rates this low so let's just put that aside but most importantly when I over the weekend I had a chance to do a lot less charts because I just wanted to go through a couple of things I wonder if I should do that now well let me just do that in a very in a different way all together let me just show you something here this is the I'm the black chart if you're able to see it in the den you should be able to see it this black chart is the Dow with the only the nine period exponential moving areas and technique that I developed this is the when it turns green as positive when it turns pink as negative this is the daily chart let's just skip that your question was on the QQQ so let's go to the QQQ on uses this as a benchmark and you can see as we're talking right now for the very first time in quite a while in fact this is only this is a daily chart let me see let me keep it as a daily chart and just telling that as a daily chart from this pretty major low let me go I have to go back unfortunately all the way let's just go to April April of April of 2020 and I said March April low but it was April when that nine period moving average turned green and over the period they're just being like a week or less than a week or maybe even sometimes two week pullback where it went pink but mostly look how long and consistent the green nine of positive nine period moving average has been and as we're speaking it has just crossed to pink in the chart but I have to wait for the end of the day before it'll show up you can see this little s yeah that just tells you that it's it's a cell signal this has gone negative it'll show up tomorrow here if the market continues as it is right now but I didn't want to do that because I wanted to show you look on the weekly chart it is still major green on the monthly chart and for me this is a key indicator look at this from the low of 2009 this is actually October because it's a monthly chart took a little while to turn green look how vertical it hasn't even changed color yet so on a purely technical basis the leadership is still the leadership it's going at a very this particular point on a daily basis many of the the key stocks are going through a pretty serious short-term digestive phase but if I look at the long term I have to say here look don't overestimate anything you can't you can't read into it if you're a technical analyst you can't really read into it something that hasn't yet appeared you can only speculate that if such and such occurs that'll be negative well how on earth with this green line the month that go negative you'd have to get the QQQ which is at 350 what is it at right now it can barely see it the 366 probably it would have to be around about 350 now probably about 348 to 344 before this even can get to pink in the monthly chart so that's all and even then look at it from from where we've been in the 150 to 200 area that's just a minor minor consolidation so I want to set that aside and just say none of my work right now on a monthly basis is suggesting that that area is going to be affected until the shorter term which is the daily chart really starts to take out the left side low well let's go to the left side low that means that this low right here of 360 no 359 96 below the 19th of august we're still a little bit above that seven points but that's really the first area if that gets taken out this week that'll impact the weekly chart not the nine over the 14 but the weekly chart in the chaplain wave methodology saying that is definitely a PE the MACD is going to be crossing it has crossed negative but this is not Friday this is just Monday and the stochastic is probably going to slip towards 80 percent or maybe under 80 percent so you can see how you I like to do things in a very step step by step motion and all I can say is right now this is a pretty serious shorter term decline we've got a waterfall cascade from Friday from Friday's open in the QQQs to today where we are at the low today so going step by step that's what I'm looking at but if you're talking about a major market top I don't see the areas like my IAI which we've been long since the day after the low of last year in the 45s which hit this is the Ayesha's broker dealer ETF 111.17 on August the 30th that's what I mean about rotating tops peak E probably in the weekly chart so I I didn't see the speculation in the brokerage houses I did see it as being the key stocks in that area like a Schwab etc being overbought but I'm not seeing the public I don't see headlines in the public every day say new highs public you know there's nothing like what we saw we've seen at other top certainly not like the year 2000 so I don't see that here I see this as a pretty serious shorter-term consolidation and it could last a little longer than normal but I don't see the crash type scenario that we would normally expect does that answer your question really in the broader sense I appreciate you taking the time to flush out all those thoughts yes very helpful thanks again Basil are you having fun trading the markets but having trouble finding like-minded individuals to discuss your trading and investment ideas with become an apex creditor in the trading markets and join the tigers den trading room only at tfnn.com the tigers den is an exclusive trading room where successful traders from around the world come to exchange trades and ideas join the den and surround yourself with the sharpest minds in the trading world subscribers to the tigers den are also the first to have 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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 I'm going to go on with the analysis so let me just put it as bluntly as I can the tide has changed the tide has changed the daily from cell signal to cell mode the tide is changing in the weekly charts but the weekly charts you have to wait until Friday I suspect that the weekly charts are going to go to cell signals with a probably almost an instant upgrade from cell signal to cell mode that says you've probably got time as well as points what do I really expect the the analysis I did over the weekend what I showed my subscribers just very briefly I'll set this up and when it comes up I will talk about let me just do this open recent I want to go to down 1920s comparison all right while that's showing up let me just go back to the charts I haven't finished the IWM right no it's already there all right there it is so what I was saying is you see peak D in the chapeling methodology of what we're always looking for is if I can just get that right there from the most identifiable low low bar we count each successively higher peak they can go to eight high sorry seven higher highs eighth higher high doesn't count you never get an H I alphabetize them ABCDEFG at D the fourth highest peak other things can happen just make it as simple as that and look what happened that peak D back in February of 2020 look at the smash to the downside now we've got another D and you can see that big there's no way in September that we're going to go to new all-time highs in the doubt that's that's my opinion we've got how many days today's the 20th so we've got four we've got five trading days this week and we've got about one two three four I think next week yep for next week Thursday's the end of the month I just don't see I just see nothing unless there's a huge something happens all right the administration announces something that the market really thinks is fantastic infrastructure how many times four in five years have we heard the word infrastructure so what I've used for a long time and I never discussed it ever I never told anyone what the left side chart was I discussed this uh for all the way from 2018 to about February or March I think of this year where it was the first time maybe it was later where I said you know what folks for subscribers we've been using this as a template this oval pattern here I'll even put the question mark in here's the question mark we got the oval pattern and that when we went to that peak deal with the sharp sell-off I said now something different is happening are we going into this phase right now and I said I don't think so because this phase is the one that took you to the September the weekend the labor day weekend the fourth of 1929 and 386.10 and of course we had a little bit of a pullback from that level 386 the initial one was down to 195 the November the 15th low then had a huge rally anybody who got out of course everybody got out on the that October the the smash of you know those those Thursday absolutely devastating smashes actually with many of them and anybody who had wanted to get out got out and then all of a sudden the mark goes from 185 195 to 297 up 100 points up what is that 35 38 percent or something like it really a fantastic move to the high of April the 18th comes back makes the dreaded age doesn't shrink like the amazon chart and then it comes down and then what happens is it goes one to one to the downside and eventually it stops and it goes to the low of right there July the 8th at 40.56 the July the 8th of 1932 so I just don't see that now at all I do see something quite seriously when you're making a monthly pd you're going to be ready for sometimes it's just one red candle then you go sideways and you break out like you did back in 2017 I think this is a little different you see the magnies just turning down stochastic is 93 percent in the monthly chart of the Dow unbalanced volume is still very good the sorry the nine-prime moving average is still very good the unbalanced volume shows you that you're making a little v-shaped top there to pd in the unbalanced volume it says be careful so that says all the way from we're at 34,000 right now 34,074 32,000 you could go there you can even go to 30 well actually you can go all the way down to the 28 29 28,000 and not break the bullish pattern but I'm just going one step at a time we had so many charts that were up at the highs I had so many charts that were making unbalanced volume highs that I said in a monthly chart and I said you've gone expect some kind of a pullback and that's where and I think it's going to be very choppy in fact I wouldn't be surprised if the low that we saw in the Dow let me just do this here the low that we saw in the S&P with these two doji candles in the two-minute chart at 40 what was the low 40 43 40 round number low I wouldn't be surprised if that is the low at least for the moment maybe even for a day or two and that we're going to be attempting rows okay we are leg B in the two-minute chart just starting right now so there is there are buyers out there and there's a reason for the buyers the buyers are there because there are a lot of stocks that actually have already had 15 to 20 percent pullbacks and are looking quite interesting for them not for me but maybe for them so I'm just saying that I think it's going to be really choppy it's going to be a difficult period we are building up as I have done for a long time I've got in a little section at the bottom of my trader's corner stocks on watch that we want to buy in the next big pullback this is the pullback and we'll be looking at those in great detail what to buy we did fortunately for once like followed through on everything I promise and we did get some of the high flyers and we even have one that made an all-time high on Friday and today it's up near the high it's just uncanny that it could do that so yeah we've been very selective so this is the let me just do this quickly here so I was speaking about the IWM that's the Russell 2000 look you had all those daily chart look at that all those Chapman automated resistance levels look at those green they should be red but unfortunately the late my herb herb that did my all my notations not my notations my software programming passed away and I just haven't had taken the time to change colors of different things but the green actually turns out to be the resistance levels and the cyan is the support and look the other eye look at this between 230s and 240s unbelievable number of resistance points not in the monthly but in the daily in the weekly chart look at the s and p spx dot x Chapman automated resistance levels right there five 4530 to 4560 4581 and what was the high what did you say 4545 something other right and now it's pulling back and it's broken support levels that's going to be very interesting and very important to keep in mind because the QQQ Chapman automated levels it actually was free to go higher because it broke the weekly it broke the monthly and then it was just 388 and what was the high about three I thought did I say it was 382 something other three let me just check out what I think that it's something like 382 78 yeah and so those are the and now the support levels you got a little bit lower down so we're watching that closely now let me go back to the real charts I want you to show you this apple makes an all-time high 157.28 on the 7th of July trading at 142 big deal it's given back a few weeks worth of action no it is a big deal that's a peak in the weekly chart it is a possible leg half in the monthly that's why I'm saying I want to take this seriously right I have no reason to buy if I get up the time we had another stock taken out are you in the market for buying or selling real estate in the bay area including the surrounding st. Petersburg Tampa and Clearwater markets tiger real estate LLC is a firm that has extensive experience in the Tampa Bay area whether you're looking to sell your current property for maximum value or you're in the market for a second home or investment property tiger realty has the experience across all areas of real estate in the Tampa Bay area to help buyers and sellers make the most informed decisions across all price levels from the price you should be paying per square foot in certain up-and-coming areas to the type of cash flow investment properties are capable of creating tiger real estate can help you make the best decision when it comes to all areas of the market before you make one of the biggest decisions of your financial future call tiger real estate LLC today at 727-329-8322 or email us at tiger at tfnn.com that's 727-329-8322 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 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 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 s and p 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 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 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 that we general on uh let's see a combination monoclonal antibody treatment looks interesting down not too much yeah it's only down five at five hundred six hundred and forty six beta peak e it isn't a we a daily sell mode not just a sell signal but a sell mode regn trading says down five at six forty six and it's a peak f i've got this as it could be an instant restore but i do i'm calling it a peak f in the in the weekly but only a leg being in the monthly i didn't do this the other day let's see it's got this really nice cup formation it's almost like a rising cup and handle formation very this is really an unusual pattern that you can see in monthly charges so unusual that i i'd venture to say that i don't recall seeing one quite like this not for a not for a big name stock you may be for a small cap yes so uh yes a covid fighting medicine's got a whole bunch of things going for it so regenerans acting very well so i'm that's the reason why i'm saying this is very selective but it's becoming less selective in the sense of what's moving to the upside but broader as it's coming down and that's going to be for me the most important thing and the other you know i talked about a dark cloud cover so i did this i i didn't show it to my subscribers this week because i showed last week so i need to overemphasize it but i'll just do this again remember i've drawn this rectangle formation each time i've said this is where i start to look at the news and what news aspect is really impacting the market but if you look at if you look at the right here the sideways movement you'll see that in each case we had a little bit of maybe what's the fed going to do with the rates it goes to be china it's really a lot of it has to do with covid even now i think it's more covid than than rates or anything like that because it is putting a damper on a lot of activities that will impact all the whole recreation area the travel area etc hotels the works so this is the dark cloud cover and what i wanted to say in fact i i wanted to do this on saturday i did other things instead for my overview for my subscribers my video and i think now now i'm pretty certain i'll start to make some plans to see how i set up for my um some kind of a webinar that i'm going to do it'll be a video webinar i'm not sure whether i should do like i usually do it with one like on five o'clock or whatever it is on a weekday night well i just do it over the weekend i do my usual overview and then i do a special thing on sunday and it's just there for you to go through over and over why because i want to show you stocks that we're interested in buying what we're doing and i do this every time i do a webinar then that's what we try to enter into on the long side or short side whatever it is so i'm thinking about how to do it i i don't feel a rush because timing wise i think we're in for a little bit longer on this pullback it'll give us time but in the meantime you've got the dark news cloud cover so we've got maybe two things that are already impacting one is rates what the what's the fed gonna do wednesday well what are they going to do that and are they going to raise rates now with the market like this that are usually they nervous nillies was it nervous nillies whatever it is we'll see and the other thing and the and rates i just think rates are stuck in a range why well yeah why bother it's just stuck in a range that's all probably for a while longer to go so it's also covered so these are the things there's so many others china china is a big thing as well so it's how the market reacts to all this and that's all that the stock news cloud cover is there's always news how does the market react and when does it and that's when i draw in the rectangle that's usually when we've gone short on the shorter term and then we have to quickly flip because these things don't last all that long this is the longest and the deepest look how long it's been and look it was narrow and bam we've just almost got a one-to-one to the downside of the arch formation so that would take you to maybe thirty three thousand eight hundred is the next key level of support all right with that said we're out of that i wanted to show you gold uh you remember monday and monday i like to spend little time on everything we've got in fact i always do that so okay there we are now we're ready to go to um gold and gold is acting quite nice and now it's a 14 17.1765 i think gold now has a chance to bounce a little bit you know in the marketplace gold is your cover for fear especially if the xlf which is the financials i do look at that gap down xlf at 36.47 was up at the 39 level a recovery high just recently peak d chapter week fourth highest peak peak d and uh that is actually an e in the weekly charts slightly high only a c in the monthly so you can see and when when um the financial sector comes under pressure two things happen usually the market is also coming under pressure money tends to go to where it goes towards the tlt bonds and that's helping bonds today look nice move up dollar 37 at 150.54 tlt even 20 year treasury bond front and it's interesting think of it this way that it's 20 year t bonds up it isn't just 20 in fact i wouldn't be surprised if it's the higher number like 30 so we'll see in meantime back in the range the rates are just in a range just like the tlt stack range if at any point in the next week and a half you see the bonds up at the 153 area who that's going to be interesting and then we have to look at it this way we have to say wait a minute what's happening to the housing for the duffy housing market well that's making the trap mode dreaded h pattern what does that mean this is the pattern we always look at here comes down makes an h pattern does it take out the left side low or does it hold and all the implications well we've seen one take out on the left side right here the arse formation hgx is trading down seven and a half at 40 459 and yes your second one but is the green candle so it's even though it's down it's trying to come back off the low but look here in the weekly charge you've got an s but it's the beginning of the week the week hasn't even started really it has to go to Friday before we can say that that s is really a cell signal in the weekly chart well it's already in a cell mode but that's an extra added impetus to the downside so we haven't seen anything we can't talk about yet other than to say big consolidation going on i'll draw it in right here or right there so to put it together what am i looking at i'm looking at gold having a chance now to have a decent balance i don't know about the gdx it should move a little bit higher look gdx took out the left side 30.69 low of august hey went to a pd usually if you go all the way to a d it says you can pull back because you're probably going to hang out close to the left side low maybe even holds it what it didn't it went under it twice and now it's trying to get back 30.42 it's still underneath 30.69 but that says that you could see some play now in the gold sector that's the reason why i never write it off i say it's in play but unlike btc which i think has already done a huge move to the upside is going to be pulling back a bit more bitcoin futures continuous contract maybe gold now takes its place and becomes in play just as a counter trend i don't see a big move up but i do see a chance that gold could stabilize and some of the gold so let's look at asa which is uh terrible lowercase h arch formation not looking good asa golden precious metals yeah it's tough i can see a balance but at 19.30 i think 20.50 20.80 there's a lot of resistance i'll be back in a moment the last segment coming up wow we haven't even got to copper copper is down quite sharp today at 4.15 yeah sharpening your skills as an investor is like getting better at playing a musical instrument you have to practice sure but you also need excellent instruction from experts at tfnn you'll get advice and guidance from the authority and technical market analysis and it's not just dry tedious text either tfnn airs live financial content streamed live on 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tiger first mortgage program pays 7% per year paid monthly for more information you can call 877-518-9190 that's 877-518-9190 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 we've got a limited time I've got a I'm going to rush through a whole bunch of things here first of all Hong Kong this is HK DOW that's not the exact index but it matches exactly the same as the Dow Jones Hong Kong index a sharp sharp down move this is in real trouble yes I agree after those messages last night thank you Baidu holding pretty well when you think it's made a pd but I think that you got to be careful to 155 it could it must hold 150 breaks 150 probably going to test the left side low back in the 130s so and if it does bounce now it has to get to 155 67 has to get to 150 850 to 159 80 and it has to do that by Wednesday otherwise it's going to be a problem SMH has been a key index for us we're unfortunately we were short every time to just perfectly and then they had a big spike on on Thursday and took us out by one penny we were short the three times short ETF just a small we just started a position and we haven't been able to get back in unfortunately but the timing was perfect everything was perfect that's our clue and if the SMH is 276 high goes down below it's a 264 I said under 269 is a problem with 264 is a bigger problem I suspect it's going to get into the 255s and then we have to do another analysis la are you are that's Laurie wants to know oh Laurie you wanted that is that how you found the symbol la you are I am not sure the question let me just quickly go to the question hi bells can you please take a look at la you are if you have a chance I'm in at 1780 you're in at 1780 it's at 1716 be careful because this is made a little peak right here with that gap and it's filling the gap I love the chart but on a short term basis be prepared this could go to 1650 to 1550 because it is it's a little bit overextended but come back to it you look you can always get back in or light enough at least light enough worry because this is um I like the chart I'll do a little bit of work over over the evening and the other one is chart colors I'll talk about that all tomorrow I think we've done a lot today have a wonderful rest of the day stay tuned great programming I'll be back tomorrow check