 Welcome back folks down 250 we get the Nasdaq flat S&P's down 11. Let's go over to our man Mr. Jack Leason as we do each and every Thursday at 40 past the hour. You can check out Jack every trading day folks at majorleaguetrading.com. Jack Leason what's going on brother? Hey guys how's it going? Today I'm going to go over with you guys a little gold and S&P but how's Boston doing in the playoffs before we get into it? Yeah how's that huh? We're doing alright man. How's that? What's this what's the series at? I haven't caught too many games. Well you missed the series man because we took out Toronto two nights ago in game seven. Oh okay that's right yeah. And for basketball right now I'm not sure because I got caught up in those hockey playoffs which have been wild man but I was just saying to my dad that if the Bruins and the Celtics could ever close it out they'd have the Grand Slam and hold all four titles simultaneously which is which is pretty insane. So that would be incredible. It's always going to be gold you guys. Totally man. Sick guys sick. Alright well I'm going to go ahead and just share my screen so I'm going to get rid of my radio face and actually show what I got here. Let me know if that pops up for you guys. Yeah we got you Jack perfect. Okay so this is gold which you know I love talking about you guys because now you guys big gold guys and you know we obviously had a really nice rally into the end of 2018 had some continuation into the beginning of 2019 a little bit of deeper pullback here basically you know near the lows of what we had but what I want to point out is starting the rally of 2018 it was a halfway back sequence and this is something that I've had the conclusion that most bigger moves do start in halfway backs so it was the low of the 16th was at August too high and you can see we rotated right now at 50% retracement and then just continued up to our profit targets now what I will look for after we actually hit this green line here is drawing that low from where the 50% was to the high but we just went straight up and we never traded it we had just a different series of a high to high yes so we've recently now come back into that level so that's that low from November to November 13th to the 2019 high which occurred on the 20th of February and we've just found a little bit of support there you can see we have no daily closes below that level that first test right there was on the 18th we got about sideways reversal candles at that level and now we're getting back above you know this multi-day consolidation so I'm hoping that we can at least see a move back near to the you know mid-mid range which is around you know 1310 1313 so over the next couple days I'm going to be looking for shorter term to shorter term time frame buying opportunities and so we get to that higher time frame resistance level in gold near the 1313 level yeah no it's you know I like what it's done meaning coming back to the breakout area you know I'd like volume in the on the rejected lower price took off topside again the thing that's pretty wild though is that the dollar broke topside in a huge way and it's going to be interesting watching all those currencies today in correlation to the metals because it might have been that they all just spiked took everyone out you know if we take a look at the yen right now what you're going to see is that you know the yen folks okay bottom line last night gets all the way up to a price point of 112 that's weakness then the Bank of Japan come out and you know bottom line said that hey listen we're still gonna just give money away and you think that would get weaker but it didn't it just went just to the opposite it just got stronger you know and so all these moves man and the same if we go over to go to the euro and all these the euro and then you know the yen affect gold in a big way and the euro just rejected 111 1118 111 48 so it's going to be interesting watching this thing move man you know yeah I have been following the currencies too closely but wow look in you know you point those out I pulled up those charts those are some big trending moves isn't that crazy I know believe me it's and they're all out there too the Canadian dollar the Aussie dollar you name it they all broke a very long consolidation the consolidation was from last October you know and so but gold stays strong there that's the reason I just brought that up Jack is gold has actually stayed strong in spite of that dollar getting so strong it's amazing you know of course gold is priced in dollars it's like okay so what's gonna break here you know something's got to give right something's got to give man so it works usually something's got to give you know so all right so I'll go over the S&P next and this is this other thing I wanted to show you guys starting out we're in the June contract for the futures in the S&P in the beginning of the contract rollover on the 8th of March that's the love the contracts we've been rallying basically since then there was a halfway back here from that low to high that traded at 2796 and we had a multi-day consolidation there that ended up completing profit targets and you can see that negative 23% target was 2890 we just went sideways you know one two three four five days there and then broke above when we break above that in a perfect sequence which isn't of course never always perfect but in this case we then go from that previous high to high so every pretty good example of an extension playing out and that extension traded on the 18th here and completed at 2937 this week you can see that's where the price rejection actually came up we closed at the belief that was that Tuesday or Monday closed at that level couldn't get back above it yesterday Wednesday and then you can continue to see the price action rejection so in this case what I would argue for or begin to look for is a same-acre new high sequence which is just that same-acre it's a fib drawn from the high of the 21st of March to the next high and then the two levels I watch are the 38% retracement and the 50% retracement so that would be 2911 half in the S&P June futures contract would be the 38% retracement and below that you got 2903 so those are the two levels I'm going to be looking for you know whether that trades today or tomorrow or the overnight session will find out or maybe not at all but those are two levels that I really just like the way you know on the hourly chart specifically that this 2912 area lines up because it's a retest of the point of the breakout from Tuesday I always like to line up now so there's no doubt man I know and it's just you know it seems like we lay at highs doesn't look like it can break breaks to another high lay at highs you know same thing like even like today I mean you know you get the dot on 230 but the S&P's I mean they're only down eight and a half that's nothing well yesterday you know we had Facebook and Microsoft earnings after the bell and the S&P had opened and you know we had a quite quite a little bit of a pop but with Facebook you know I think it turned all the way up to 200 Microsoft you know huge move to the upside as well there was a little bit of a move but like there wasn't a significant move to the upside where you would have been like hey like I thought the market was a little weaker because you know we were again the lower lows lower lows lower lows lower lows all the way in the close and then you got that follow through here today right that definitely shook some took some people out here on the lows so yeah now that's a great point Jack because when right before the close yesterday folks there was a big sell on that S&P and went right down right before four o'clock soon as the numbers come out flip all the way back top side but guess what morning right back down right now listen folks you can check out Jack every trading day major league trading dot com Jack you have a great week safe week we know it's one more in Chicago right now it's a beautiful thing brother take care guys good talking thanks Jack have a great one have a safe one stay right there folks Tommy and I are coming right back we have the dial off to 222 come right back