 The following is a presentation of TFNN The Trader's Edge with Steve Rhodes. Call now toll free at 1-877-927-6648 or internationally at 727-873-7618. The Trader's Edge. Now Steve Rhodes. Hi folks, Bowser's Champion here, Steve Rhodes is out and I said I will do this hour because there are so many questions that I had. Also for about five sessions now, I've been wanting to do this. This is Investors Business Daily. This is a list of the top 50 stocks and it's really important going through this because it tells us about what's working and what's not working. And there's a real mixed market because within the context of failure patterns, there are some things that have held extremely well. So let's just do this. And the first question I wanted to get to that I didn't finish up before was the GDX. So this is the market vectors gold minus. If you look at this monthly chart, you see the way it's making from 45, 78 the higher of August of 2020. It's just making lower highs and lower lows. And if that's the case, then this is the pattern right now where you have to see a change. And the monthly chart, of course, we've only just begun the month of April, but that monthly chart, the nine is flipped to negative. But anything can happen into a month, right? So I'm just telling you where we are right now. The magnies just about to cross negative and the stochastics weak at 56%, the on balance volume, the blue line is very weak. In the weekly chart, making lower highs and lower lows, I went to a G slash C alternative count. It is a G with a down arrow, but we've used up the down arrow for when that went under the 14 period moving average. So I used the other symbol that I use, which is the inverted. It's like the pyramid right there. It's a little hat. And that once you used up the down arrow, especially if it goes to an F and then a G, we had the same pattern back in the week of October of 2007, where in the summer, it made a peak, I can't remember. I think it was a peak E high. And then it pulled back and the Chapman wave methodology can go to a G, never an H, but it went to two higher peaks and then failed at October high. And that's where the monthly chart of the S&P went to a Chapman wave Roman candle, which gave us the clue that this could be really serious. So in this particular instance, it did that. I call it the camel hump. Some camels have two arms. You actually don't know what he's saying. Am I allowed to say that? You don't know what you're allowed to say these days. Anyway, I usually call it, it's an M shaped pattern. So you've got some camels that have the two arms. And this is the one that says, if the stochastic goes over 80% very briefly and then comes down sharply, watch out. And that's exactly where we are. We're in the watch out phase. There's the dreaded age. I was just talking about that in my show moments ago. I wonder if I can find it. There it is. So the dreaded age is when it comes down sharply, sharply makes an H pattern fails at a peak A or a B and then takes out the left side low and it can go quite a bit lower. Then it did it again there. It went to an A and failed. Then it went to an A and failed. Then it went to another A and failed. Now it went to an A and a B. It's just going to be a larger arch formation. The dreaded age is going straight down and then arching over and fading at an A or a B. You've got the same thing here in the weekly chart. This is going to be very important because gold is kind of the go-to place internationally. If the XLF, well I haven't talked about the XLF for days, if the XLF, which is the S&P Financial Select Spider Fund, if it starts to fail, then usually countries, not just institutions, but big countries say, oh, failure in the financial sector in the United States, I'm going into gold. But that's not really the case yet. This is not really a failure. It's not looking great, but it's not failing. It's above the 200-period moving average in the XLF and the question came in, what about Bank of America? Well, Bank of America is a stock that we've owned at least six times in the last seven years or so and then we try to run it as high as we can and then get out and then wait and wait and then get it again this year for the last eight months or so. I don't think we've even been in it because it's just acting so poorly. I would like to think that this is going to be a go-to place because it has the financial, the broker dealer part of it, which is the Merrill side of it, but this chart is not a great-looking chart. So I'm saying to, can't remember where the question was. I wasn't in the YouTube, I'll do that. I can't remember where it was, but Bank of America, BAC, hold off for now. Just have patience. You'll get it and I think it will have a decent rally this year, but not just yet. Okay, so now within the context of what we're looking at is the GDX, the gold miners, look, Newmont mining, dreaded H-pattern at a peak B. Oh, it actually went to a C, peak C and now it's pulling back. It hasn't made the H-pattern yet. It is arching over, but I can't put in a C-minus because it's still in place. Let's go to JPMorgan. It had a fantastic move. JPMorgan has a great move if I can get to type in the right place. JPMorgan, there we go. JPM. Yeah, look at that. Coming back sharply after the alternate count, G-c, that's a G and I can put it down arrow right there. That arched over. It didn't make a Chapman wave stalk leg formation and it's only a peak C. I should call this an alternate count. I'm sorry, I have to call that an alternate count. So this is right here, a G-c in the weekly chart. Just updating. Remember, you can go back and correct in the Chapman wave methodology. You're not cheating or anything like that. You're correcting. If you don't correct, that's cheating. That's cheating yourself. You've got to update as much as you can the notation. That's your only obligation. JPMorgan saw one of the best looking banks, but it is a little bit rusty right now. Okay, so now what I want you to do is Apple. So the questions came in. Could I look at different stocks? Yes, Apple. So Apple has a sharp move down today. That weekly had a beautiful up channel. There's a Chapman wave technique. I call it the price symmetry. We can go from the left side high or the left side low and your rallies or declines. And then you find a midpoint. I call it the plumb line. And then you should have the equal. Now, if you identify this correctly, you can get an equal number of bars to the right side to get back to that left side high of 17615. And lo and behold, it did it almost to the week to the exact bar and exact price. And then it broke out in April. Was that May? And then it goes all the way to that peak D. And within three bars, it makes an E with a doji candle high pulls back. So I'm suggesting to you, Apple monthly looks fabulous. The weekly chart looks toppy on the shorter term, but the nine is still over the 14. So there's still internal strength. The week, the dating chart. Try to fill the gap. It almost filled the gap from the beginning end of July beginning of August. And now it's having a sharp pullback. And this is telling me that I was talking about over the weekend when I was when I did my video of my one hour long or just under an hour video for my subscribers. Looking at the overview of what happened and what's going to happen, this expectation, expectations, parameters for the coming week. And I said, some things are acting extremely well. Well, Apple was acting well. Now it's not acting well. So this rotation into weakness now is very personal. I'll be back in a moment. Baselchap is sitting in for the hour of Steve Rhodes. I'll be right back. That was down 222. 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For all the details and to start your 30 day Tiger Forex report subscription today, visit the front page of TFNN.com. TFNN Educating Investors. 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 in stock prices. Get the opening call newsletter by Basil Chapman and your inbox every day. 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At TFNN, all our newsletters come with a 30 day money back guarantee so you have absolutely nothing to worry about. Visit TFNN.com and try Mastering Probability 30 days risk-free today. TFNN Educating Investors. But it needs to get to 44.68 to 44.72 and I'd say if I was looking at the five minute chart you would have to do that. We're at 11.19 am on the 6th of September and it should do that by 11.35. Actually it should do it before but I'm saying 11.35 would be a measurement. Alright let's get back to our story. I was looking at the GDX and I was just saying a lot has to happen with the GDX and I said let's go on to Apple. So we've looked at Apple. Apple is in a consolidation phase having tried to fill the gap. That gap is like a magnet. It went there and now it's being repelled from it but my suspicion is that at 183.88 the 185 to 186 level is going to be really important in the next two days because if it can get there and hold it means it's trying to establish a higher base of support in the 171 area it was at just two weeks ago but actually today's Wednesday. If by Thursday at 2 o'clock after 2 o'clock it breaks 180 support that's a real issue. Looking at Amazon. Amazon. Amazon right now. Look at that weekly chart. It looks fabulous. Look at the monthly chart. Very good. Daily chart says oh chop chop chop it's in a side rage range between 141. It's trading at 135.88 right now but 133 is really key support in the short term. If it takes that out that's going to be a big problem. So that's Amazon just a digestive phase and I want you to do these. Where did they go? Don't tell me. Right there. Okay. Click. So let's do the CLH. CLH. This is the investors business data. This is the top 50 they've got. Look at this. And this is what I was saying that there's really a bifurcated market but it's trial quadruple for catered because even in different look coca-cola because this chart of coca-cola did fabulously and then it just made that peak Dean the weekly chart and now it's failing from the 64s is down at 58 right now. But wait a minute. CLH Celsius holding ink drink supplement. So I don't know if I've ever seen one of these things. Leg C in the monthly leg E in the weekly and everything is just looking fantastic. And it extended this leg E in the daily chart. It doesn't even know that the market is pulling back. It is in its own world. Nice chart. Elf. Remember I said when Ulster lost its beauty that Elf had taken his place. Well Elf had a new rally to an all time high. And after the 137.48 high that was made in August the 2nd with the 132 round number low. It did plummet. Filled the whole gap and went down to 115. Now it's trading at 135. It seems to want to ignore. Remember beauty products. They're the last ones to give up anything right. Until something really bad happens with earnings or whatever. But in this particular case Elf beauty and cosmetics near all time highs. DLO. DLO. Hope I've still got the chart notated. Yes. This is Dow Cal Limited payment in Asia, Africa, Latin America. Had a huge gap. It didn't fill the gap. It's staying in the middle of the range. 21.48. So I wanted to point out to you the reason why I wanted to go to this. This is saying, hey, don't get overly pessimistic. There are things that are working. I anticipated that one of our stocks would have a bit of a breather today. So we took almost a 30% gain. A little position off. As we're just working a tiny bit, a tiny bit to do money management. Because it should have a bit of a bit of a rest. Another one that we've got into. I never know whether we're going to succeed with this one. Because when we got in in the 21s and it ran up to the 60s. That was fantastic. But trying to get back in to put some of that money back to work. Not so easy, but it's in an area that says to me. Even in today you can have a huge five or 8% rally up and down. So I prefer to be going into those just for the moment. Question came up. If I would look at, did I look at that? Yeah. If I would do the S-O-X-S. This is the S-O-X-S is the, where did it go? Did I type it in the wrong place? I must have. Yeah, I typed it into the general mistake. S-O-X-S. This is three times short. The semiconductors. The reason why I haven't gone back into it. This would be the perfect time. But the SMH has made a leg C. And it's in a buy mode. It should have one little pop to a D. It might take us out of our short position, which we've been in for quite some time. But I'm looking at internal strength in the semiconductors just at this particular moment. So I, the risk I think is just a little bit too much for me to say. If we got it at the low of the day of 9.06, if we got it at 915, if we got it at 946, it's not a big deal. It's already been up to 1184 in the last month. But I, I see bursts of energy coming in to fool everyone in this particular move that we're looking at. There's a rotational correction that we're in. So I, I'm sorry, I would like to say, yeah, grab the S-O-X-S. It's going to fly. I just, I don't, I'm not risk reward. I can't do that. That's according out the balance. I can't mess with the dead. We don't miss. I know. So, okay. So let me just go to show you what I'm talking about. SMH, look at this. A sharp move down today, down 2.24 at 154.34. Our stop is just, I don't know how it's held, but we've got a split stop. We've taken nice, nice gains on, on, on the core position. We've still got some left. But now what we're looking at is it went to a leg C. 90 is over the 14. The MACD is not great, but it's good. Stochastic is fabulous at 90%. On balance volume is okay. Relative sense, a little gray line right there. Sorry to decline. So I, I, I, sorry, three times. It's just too risky because the other people that are listening, they might want to grab it. I know that in your case, you'd be very diligent and judicious about how you get in and what you do. But I'm just saying we might have missed an entry point, but I'm just, I'm going to let it go. I'm going to let it go. I'm sorry. So the next question is of the VIX index. Yeah. Look at this. VIX.X. The VIX index to this pyramid straight up, straight down pattern, almost like an Eiffel Tower. And now it's trying to rally. But if you look at the weekly chart, it's an inside bar from last week. It's not really spiraling. It's only a 56 cents. And if you look at the horizontal line that I joined from years ago in the VIX index, this grade line has always been a nice bounce off level for the VIX to rally in the market to come down. And that's where we are. But if you look at the MACD, that's really weak. And if you look at the stochastic at 5%, so it's going to have to be a huge move in the VIX index, the fear gauge to really get the market to tank. The Gold Report. As a precious metal, gold is still king. It continues to hold the most effective safe haven and hedging properties across the global major trading hubs of the London OTC market, the US futures market, and the Shanghai Gold Exchange. The Gold Report. Tom O'Brien publishes his weekly Gold Report every Monday morning for subscribers, consisting of coverage of the XAU, HUI, GDX, The Dollar, Bonds, the South African Rand, as well as 25 different mining equities with specific buy-sell recommendations. The Gold Report. New subscribers get a 30-day money-back guarantee so you have nothing to risk. Subscribe to Tom O'Brien's Gold Report newsletter now at TFNN.com Sharpening your skills as an investor is like getting better at playing a musical instrument. 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Don't forget, you can listen to TFNN live on your mobile device 24 hours per day. Go to TFNN.com and hit Watch Tiger TV. That's TFNN.com and hit Watch Tiger TV. Hello folks, we're back. Browse to Traffin, sitting in for Steve Rhodes' hour, and we're looking at the E-minis down 35. It went to a peak. Do you remember the Traffin wave? We were always looking for a buy signal to a buy mode to go to at least a D. And I drew in this cup formation with the bar symmetry, the plumb line, the middle, and it says that by 1137, as long as the 9 is holding above the 14, we should try to get to 44.79... oops, sorry, 44, is that right? Yeah, 44.70.50. I'm not sure it's going to be able to do that, but that's what we've got here. I'm going to see if that works, but you've already got to that peak D, which is the objective of a buy mode. And what happens in the stochastic, look, when it suddenly plunges under 80%, you've got to be careful, because that's where you can drag the price down. As long as it's holding above 80%, especially 85%, that's good. But that 9 is still positive. We'll see what happens. It's going to be a tough row, because there is... Whereas yesterday, every pullback, so buying until the very end, where there was just a tremendous amount of selling this morning, buy signals have gone just very briefly. You can see by the single leg A or a B to the upside in the one-minute chart, and then it fails and takes out the left side low and goes much, much lower. And meantime, back at the ranch, here we go. So we were looking at... a question came in. I did that, I did that, I did that. Oh, yes. So NVIDIA. So NVIDIA has a daily chart of NVIDIA. Sharp move down, down 15 at 469. And what we were looking at yesterday, what I was saying is that the technicals are all very good. But the way that this candle on the earnings went to 502.66 closed down and followed up with two lousy candles, it says to me that we could be trapped, initially trapped in this rectangle formation between 502 and let's call it 440, for the moment we call it 440, is that 2 or 4? Right there. I've got 448. Oh, yes, 448. So it's sort of trapped in this Netherlands. But look at this. The weekly chart has got the falling-axe formation it did almost a one-to-one to the upside. Now it can come back and retest that. The Magdi is starting to fail, the Stochastic is starting to fail. On-balance volume is overbought. So the only technical tool I use is an overbought, oversold condition. Look at that beautiful turnaround right there in the daily chart. So the weekly chart says the price is still way above the nine, period of moving average. The nine is way above the 14 at 428.35. NVIDIA, and that means we're going to use up time. If this is the case, for NVIDIA to go negative in the 914 period of moving average, you would probably have to see 360. It's a 369 right now. I wouldn't be, sorry, 4. It's at 469. You'd probably have to see a couple of closes on the weekly chart under 376. That's almost 190 points. So that's the reason why I'm saying you can't just take things for granted that semiconductors have had it. No. So that's that one. Next question was, could I look at rig? So rig is not rig amorphous. It's very nice. The Charles Ocean offshore drilling. But now it's getting a kind of toppy. And this topiness says if you're long, just purely on money management, I would take a little bit off right now. It could go higher. But this is where it's 809. If crude oil even pulls back a little bit, this could quickly slide under 780 or 760. And then it could go even deeper down. But only a little bit for money management because the weekly charts at this point still looks very good. What was SLB? These together, slumber J. Slumber J is a different kettle of fish. This did a beautiful V-shaped formation. It's at an, it's this and all this can be an all-time high, but it's definitely a multi-year high. Yeah, I remember this. So this went, look, from that load that was made back in March of 2009 when peak A peak, B peak, C peak, D, and then almost the same double-hump pattern. It screams up to a high in February of 2020, the week, no. Yeah, the February of 2011. And then it double tops and comes back down. Then it goes peak A underneath it. A, B, C, D, E, F, goes to peak F right there. July. This is July of 2014. And then it comes down. Then if you use this as your fulcrum, left side to the right side, all you have to do is go from there to there, and then click and go from there to there. And look what happened. It took a little while longer and then it took it right out. Now it's important. Actually, I normally would go to the trough of that. That would take me pretty much to the end. But now look at this. So the all-time high was right there on July of 2014 at 118.74. So we are all the way under it. And this is gone. Look how it's walking the nine-period exponential moving average, getting a little toppy based on the M-shaped pattern in the MACD and the M-shaped pattern in the stochastic. But the green nine-period moving average is still good. This is a much better one. So did you want to... Oh, for an entry, this is very difficult in the sense that high, but stocks that make highs tend to remain on the new high this for quite a while. So I'm going to suggest you don't have this. I don't think you've got it. It's not a reentry. It might be a reentry for you. So I'm going to say this is just for you with a question that you asked me. And I'm going to say, where would you enter? And I'm going to say small position at 60.76 right now. And I'd have to give it a three-point, just initially a three-point stop, because this... You see this bar cannot be... The low bar cannot be the high. So that's not an A. This is leg A. So it's F because you have to continue the count from there because you never took out the starting point. So that's F slash A. F says, oh my God, be careful. A says, are you kidding? I want to buy every single dip. So I'm going to say nibble right here at 16.75 with a chance that crude oil takes a little bit of a pullback and this holds even putting back a dollar and a half to two points and then makes a new recovery high I think you can go higher. It's a different chart altogether. Slumberger. Oil and gas, I believe. So in the servicing of that area. So now let's go back to our charts because what we wanted to do is... Yeah. So I need to just click on this. And go back to the chart, target chart. Yeah. So in the meantime, back at the ranch I'm going to call this F slash A. No. Yes. F slash A, just for the moment. F says, be careful. A says, are you kidding? I want to buy everything and when you get this kind of divergence just be cautious. Just say, hey, it's acting very well. I want to be there if it starts to move a little bit higher. I think it's going to go much higher, a little bit higher. I'll be back. 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 in stock prices. 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The funds are designed to be utilized only by sophisticated investors such as traders and active investors. This program is brought to you by Vista Gold. Traded on the NYSE American and TSX under the symbol VGZ. This is part of Investors Business Daily IBD stock list. Trading at ACLS is trading at $190.25. Accelus Technologies Inc. US company, cap equipment for semi-industrial fabs. Iron Optimizer for performance, blah, blah, blah. PXC in the monthly chart. PXC in the weekly chart. Technicals are weakening but the 9 is still strongly over the 14. The daily chart is in a buy mode and we're looking at it at 190.26 down 2.32. Is there going to be enough strength over the next few days that even if it pulls back it goes to the C and D, it could still fail. But technically I have to call this a buy mode because all companies have to do this. I'll call this a buy mode because everything that I look at meets the criteria to call it a buy mode meaning it should go to a C and then a D. So this is acting very well monthly chart as a weekly chart as I said acting very well. FTAI and if I remember doing the FTAI yes this is FTAI aviation this looks like general electric just walking the 9 period moving average in the weekly chart this is an E and an F that we've got right there in the daily it's very close to some kind of a little bit of a digestive phase and IOT is training a 30 FTAI is training a 36.94 down 40 cents and I'm calling this an F for now with a 2 doji candle says just starting to stall a little bit and G slash C in the weekly so this is still very strong FTAI aviation is this not the electric electric airplane is this anyway whatever it is FTAI aviation doing fabulously I'm looking at Workday WDAY this is training very you see this is what I'm saying I can show you a chart look at these charts you wouldn't know what the market is doing this is fabulous right all-time high with in pennies of so new recovery multi-year high all-time high was 307 back in November of 2021 plummets down to the 120s training right now double that 248 looking really nice so that's why I'm saying I wanted to show these charts I actually wanted to show them the other day to say hey these things are doing very nice to look at A net this is the idea of this yesterday I said oh this is holding so nicely a risk to networks almost at an all-time high within pennies of an all-time high so don't be fooled by the market be very specific know what you like stay with what you like put in ties up don't be afraid to take a little money off and if you're trading like a very near term as I would be doing except right now I'm doing the show look this is walking the nine period moving average in the one minute chart very fairly of course it could fail here but it did go to a peak D it's stalling at this D right now the one minute chart and look at all this is the one minute with the automated chapter resistance levels look at those resistance levels and look the five minute chart is still pink it's just it has it'll have to you'll have to see 473 in the E-mini for this pink nine-period moving average to go positive or get close to positive in the five-minute chart so it's a work in progress so a couple of questions have come in let me just see here yes so in the context of right here I want to get out of this in the context of that chart that I was showing you a little while ago the aviation one look yes GE didn't they look the same look this look walking the it's not walking it's actually running above the green nine-period moving average which is way above the 14 which GE weekly chart has only touched once and that was back in December the week of the 23rd 2022 it's 60.24 here it is at 113 it's already almost double that so now it's stalling out it's got this rectangle formation and rectangle formations the longer they last the greater the chances are they're going to take out the left the the base of support in the rectangle especially when it's a narrow like this so GE is in a digester phase after a fantastic move just from December you know 60s up into the 113 area now so digesting same kind of chart pattern as that aviation one another question came in could I look at where to go and now okay I'm sure I've updated it any chart that I look at I do a quick analysis yeah there it is now is service now cloud automated management workflows IT service made a peak GSash C way back in July about 100s 610 611 pulls back to 530 now it goes peak A peak B if there's no new high today let me just double check I believe that was a penny or two so that's 396 46 62 yes so this is a right there a and that's B we're looking at service now because it's beautiful oh that's also what I want you to do I'll do that I've got time I want you to show you these larger context of chart formations it's overall looking at a very short term look at it but I like to look at the big picture look at this plumb line that was made back in October of last year look how it's worked so judiciously to get back to the left side hive that ugly candle around about December of 2021 and I chose this series of high here highs here to go to and it went to the to the tech to the week exactly plumb line midpoint right there what did it do service now goes to this doji candle high this is a weekly chart the week of the 21st of July at 614 36 makes it another cup formation remember the in the pattern we're looking at the dreaded age you got the green reverse why very positive and it's making that why pattern right now so it's going to try to tackle that is at 596 so I want to emphasize not everything is going down stuff that maybe you look at often yes but stuff that maybe doesn't come up service now doing well 596 28 and now W is the symbol okay now a question came in could I look at Microsoft Microsoft Microsoft has gone to a leg B in the daily chart in this price time it's going to go back to the 310 coming off a low in the 310 area going to peak a then at a horrible gap up candle I think that was news related pulls back but then finds its way back up again I like when it goes to a B over the previous high in this big rectangle formation with deep rectangle formation and that just says it's in play but the weekly chart says you know it might be in play but Microsoft's technicals are a little back in July this is not very good action yes it's grey A and then we're in a grey B but that's not movement that's just that's terrible more like indigestion and I just think that Microsoft needs more time so as I look at it now the question was where would I enter Microsoft I say hold off give it two weeks and if you can get it closer to 312 or 310 give me a yell we'll look at it together meantime I was done 200 and 200 and something 201 S&P's down 37 I'll be right if you're looking for potential trading setups in the stock market then rocket equities and options report is a newsletter you should try Tommy O'Brien delivers options and equity trades when the markets present them using a combination of fundamentals and rocket equities and options report today with a 30 day money back guarantee so you have nothing to risk for all the details and to start your subscription today visit the front page of tfnn.com tfnn educating investors 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 in stock prices get the opening call newsletter by Basil Chapman and your inbox every day first 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refund within 30 days of signing up subscribe to the Fibonacci 24 7 newsletter today tfnn.com educating investors tfnn has launched the Tiger's Zen hosted at discord tfnn has been educating investors for more than 20 years with live programming hosted by a variety of professional traders during market hours the Tiger's Zen available to all tigers and Tigris's for just $1 for the year there's no cash or added costs when you join our community of traders sign up today and become a part of this educational community of traders just visit the front page of tfnn.com last segment about that which is I'm going to draw this in right here and I'm going to say I'm doing this more by eye than time and I'm going to suggest to you that let me just get to this right here that this could pull back a little longer and get to the 200 period exponential moving average by the 14th of September trading at 3.86 right now and if I'm correct the inside wedge target support line right there says that watch out handles 3.75 because if it takes that out it's going to go quickly to the 364 200 period exponential moving average that's on the very short term basis and then real quickly as we're about to wrap up check out my opening call my daily newsletter we've had some really nice positions there look at this rectangle formation so this is the large rectangle maybe tomorrow I'll have a chance to do it that says it's making the H pattern very large H pattern if this takes out 4.464 this is the E many at 4.465 25 for 2 out of 3 set bars the 1 minute bar there's a real good chance 44.63 is next and at any point today 44.63 is taken out 44.58 is going to be really important support to hold upside just keeps getting beaten down every time it rallies but it has to hold about 44.70 to 44.72 in the 10 minute bar for at least 2 bars and then it can go a little higher so with that I think we're just about to wrap up am I am I early oh how about that for a change I'm a little early for the change and oh another question came in the XL E the XL E is the SMB select spider ETF and that is trading right now down 17 cents at 91.05 yeah this is that breakout that we don't know this is the alternate count same thing the alternate count look at this E slash B E says be a little careful B says are you kidding me I want to buy everything but the technicals are still strong so it tells me that the energy select spider I'm still going to have some strength this did we break down there or not we went under and we back above all right folks have a great rest of the day great program yeah give it a check out both the call my gate views and I'll see you again tomorrow