 The following is a presentation of TFNN. Trade what you see with Larry Pezzavento. Call now toll free at 1-877-927-6648 or internationally at 727-873-7618. Now Larry Pezzavento. Okay looking good Billy Ray feeling good Lewis boy my voice is actually as strong as it's been all week today I don't know why but it's doing okay today okay let's take a look at something that's really important folks I posted the chart here weekly chart of the high yield bonds ETF that means a junk bond okay now junk bonds became very popular when Mike Milken graduated from Wharton's business school he took a job with Drexel Burnham Lambert I believe in 1973 and in 1974 he was transferred to Beverly Hills where he ran the department for high yield bonds they were known as junk bonds what Milken did was to get people to understand that these were high yielding bonds they weren't junk they were high yielding and from that that's how they moved the markets around for quite a bit what happens is it was a very thin market when they got started it got bigger and bigger as real estate started to boom in California and what happened was Drexel Burnham was basically the whole market on those things if you want to know how they made their money read the book called the Den of Thieves by James Stewart Stewart's on CNBC all the time he's a Wall Street Journal reporter but he wrote that book and it is word for word what's happening there if you look real close at the building on the backside that building that you can't see was my office but anyway that was on the rodeo and Wilshire is where the where the office was but look at this chart folks this is a weekly and you notice right here you see this we're getting ready to start to break down this is not a good sign folks we're going to blow this up so you can see it we actually took out the lows this week of that low right there so we are starting to move lower as you can see this is where we are bouncing a little bit today I saw earlier but I can think we can see what's happened there was the there was the break and now we are getting ready to see how much rally we're going to get okay let's get back to the bonds okay because I also wanted to mention here is arms we had two IPOs come out this week and it opened at 55 went to 69 now it's at 51 that's not a good sign everybody that bought this thing the first two days is now underwater I think it's the same thing with that other one called Instagram and also an Instagram but something like that anyway let's move on here and talk about the bonds here for just a second and we'll we'll move in here and talk a little bit about stocks here is the bond market I posted this last night and I said this is where the fat lady has to sing you can see we have the big A B CD coming in here at 116 even the low was 11523 we're now at 117 so it's moved a full handle we expected this to be a rally and so far that's what it is now this market is really bearish and I think it is look at the last time we had a move you see that move that we had right there what we want to do is to see if that's all it's going to do at that spot right there that's market repeating itself over again so watch this spot so all I'm going to do now is I'm going to go back to the last high right back here that led to this ABCD down and I'm going to draw the line down from the low to the high and see where the 382 comes in the 382 comes in right here this measures to 11717 this measures to 118 so this is the area right here where you want to watch this okay because that is where the 382 comes together with the repeating number what we call the harmonic number in other words the market moves this one happens to be two points so two points off of this is going to take you right up to this level anyway we're only half a point away right now this has been a big move see that that's been a pretty big move so this is the key because if this is in fact the real major bottom in bonds which certainly could be you know I don't know if it is or not but if we start getting really strong getting up in here then it's got a chance to rally more folks but this this market has all the ear marks of the guy in the all the horror movies which I never watched those things the guy with the chainsaw or the the sickle that comes right behind you all the time that's what it looks like every day I watch the news on CNBC or Bloomberg to get the flavor of what they're looking at whether it's the IPO just to get a feeling if the market scared or whatever and there is nobody scared of the bond market you know and I they say that lower it goes more value it is because it'll yield more yeah well reminds me of the old story from reminiscences of stock operator the guy says how you doing well he said I had a really goodbye he says what was it he said it was goodbye boat goodbye house goodbye car goodbye wife and that's what it'll end up being so be really careful folks this is a market that really looks like it wants to go a lot lower that means higher interest rates look where we've gone folks we've gone from two percent to two and a half percent three percent on market just to eight percent in a matter of eight or nine months and you know that in our my little subdivision here which is eighty homes this is the first time since they've been built that there's not been a home for sale in our whole neighborhood not one usually there's five or six four or five anyway nothing there hasn't been one for sale for six weeks and my real estate guy said that's a good sign and I came back and I started thinking I said no I said just a lack of buyers nobody wants to sell but there's also no buyers so I don't know if it means anything or not but anyway that's what we're watching here in the bond so let's pay pay attention to this and I think we've got to double check something here at TFNN and we've got Jeff from Philadelphia on the line Jeff what can I do for you my friend. Hi Larry so I have a question for you sometimes I notice when I have a particular trade on and I have a target and the price is approaching a target it comes very close but then bounces away and then sometimes you know it bounces away for a little bit and they come back and actually hit the target and other times it'll continue in the opposite direction and not come back and hit the target so I think the reason why sometimes it gets close and bounces away and it comes back down and hits it is because people are getting out a little bit early you know other people looking at the same trade I am and it's getting close so they say that's close enough and they get out and that you know forces it to go the other way but then their orders get exhausted and it comes back and hits the target but my question is do you have some kind of a tell or something that you look at that says oh this is just bouncing away from the target because it got close and people are getting out early it's going to turn around and come back and hit it or it's close but no this failed never actually hit the full target it's going to continue away and not come back you have any way of distinguishing between those two possibilities Jeff today is your lucky day I have in my power the way to determine whether the market is going to hit the exact high or the exact low each day it's part of my advanced training course it's $30,000 for one year now refundable it's $30,000 well I've got more demand than I can supply so prices are going higher but it's $30,000 Sarah just told me that we've sold our last one today Jeff that's called trading my friend and it's all based on probability and I know what you're going through but you can't do a darn thing about it we just don't know you're asking for the future and I have to get a crystal ball for that one my friend okay okay thanks you bet brother thanks a lot Jeff keep up the good work your charts are fabulous we'll be right back folks Steve Rhodes started his trading career as a student almost 20 years ago and the student has now become the master Steve won the prestigious Timer of the Year award in 2018 and barely missed that mark again in 2019 finishing at number two for the year an amazing accomplishment Steve Rhodes is committed to sharing his techniques and knowledge with anyone who wants to learn and he shares his vast amount of trading knowledge every day in his mastering probability newsletter Steve's award-winning newsletter mastering probability is delivered every trading day with updates throughout the afternoon sign up for Steve's market newsletter mastering probability and you'll receive access to seven of Steve's educational webinars absolutely free 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 are you ready to take your trading to the next level introducing Tom O'Brien's award-winning newsletter market insights your key to successful active trading Tom O'Brien renowned for his expertise in the financial markets has designed market insights to be your daily guide to profitable trades Tom publishes his daily market insights newsletter every market day before the market open along with updates when warranted stay ahead of the game with Tom's real-time analysis and trade recommendations delivered straight to market insights provides the edge you need to navigate the markets with confidence ready to join the ranks of successful traders head over to TFNN.com and subscribe to market insights today don't miss out on this opportunity to supercharge your trading results market insights comes with a 30-day money-back guarantee for all new subscribers so you have nothing to risk don't miss out on this opportunity to revolutionize your trading game head over to TFNN.com right now to join the thousands of newsletters market insights firsthand TFNN educating investors adding stock options to your portfolio can be a major game changer but the full complexities of these instruments can oftentimes allude even the most experienced traders whether you're a seasoned trader looking to sharpen your knowledge on options or you're completely new to the market Teddy Kextat is here to help on Wednesday September 27th from 4 p.m. to 5 p.m. eastern time Teddy is hosting a live stream that will teach you how to capitalize on time with calendar stock option spreads Teddy will also go over how to trade stocks and other market movements without large capital allocation how to expand portfolio diversification how to maximize potential returns basic entry and exit techniques and more if that wasn't enough of a reason to attend Teddy will also be answering all questions live if you're serious about making money in this market and I'm going to go over the front page of TFNN.com today to sign up for Teddy's live stream TFNN educating investors call now toll free at 1-877-927-6648 internationally at 727-873-7618 okay folks we're going to take a look here at the S&P I've got the December up here you see we've gone from 45 07 on Tuesday excuse me on Wednesday then Thursday Friday we're down to we hit a low of 43-65 now you'll notice here I put the arrow there's the 3-8-2 from that level that comes in at 44-23 if this is correct and we're just getting a by the way that DCB means dead COVID bouts folks see is for COVID anyway look what's happened here now there I always say that when you see the first ABCD in the bear market you want to buy it and there it is right there you can see the ABCD there's your 3-8-2 right up here so now we're seeing a little bit of a move down my fondest dream is that we keep doing this and keep doing this and then sometime between now and Monday we're going to hit 44-23 because that is the 3-8-2 from the whole move down off of this high right here so that tells you this is the one you want to be watching really close let me tell you the reason why if by some stretch of the imagination we can get above this this could have been a major bottom down in here I don't believe that it is everything in that I watch technically tells me that that's not the case but that's what we're watching so you see as we're looking right now we just completed that up there at 43-97 the high was 43-99 so it missed it by so we really can't count that that would make that one a failure wouldn't it close enough I guess anyways here's what we're looking right now and now we have a market moving down so we're still here's the open down here so we're way above the open that's really good so what you want to be watching on a short-term basis is to go back to your little right here and connect to see where the 61% retracement comes in and it comes in right about here 43-79 that's about 4 points right now now if this is good this is going to hold it right here but if we start getting below this point this is all the rally you're going to get folks and it's not going to be pretty here today and you think not pretty today you should see the market without makeup when it opens on Sunday night or Monday because they are going to tear it anew you know what because there's just no rally in this this is what this look at this folks we drop 150 points and all we can do is a 30-point rally and that's right you know double the 15-point rally that we talk about that 30 points 6 times the harmonic number of 5 so that's what we're watching it's very very important that we can hold this level here at this 437 4 points away in fact we're in the air right now we got Jeff huge coming on so we'll see if this is going to hold but that's what we're paying attention to here today it's very very important that's my two cents worth okay I think that's about all I can do let's move over here to the market that has been going wacko crazy and that is this British pound you'll see here that we need another new low again get this up on the weekly so you'll be able to see it that it's broken down below that 61% retracement by quite a bit now okay so we're making a new low today get it up here see it's not much of a new low but it's a new low see it takes the low out the other day just a few pips and it rallied again so it's trying to make a bottom in here but right now nothing in sight looking at this on the daily you'll see it just keeps cascading down there's that 618 we're looking at so we're still moving lower folks so there's no really any way to get in this market without risking a little bit but it's still I see no pattern in here that's going to give us any idea where we could possibly be so tells us we're going lower look how many days we've been down that's a lot of days down this one only gets a two-day rally and then collapses the Euro on the other hand and on the other hand we'll take a look at the Euro here's the Euro now the Euro made another low you see the low here on the 20th it made another low last night by two pips and I'm going to go to the weekly chart because I want to show you how important that is there it is again you see it there was that yesterday there is today made a lower low by four points okay and that's what you want to be looking for okay so that's it I think the Euro is making a pretty good bottom in here I good party you get below here you don't want to have anything to do with just like when bonds broke 117 31 you don't want to stand in front of that that's for sure okay let's just take a quick look now on the hourly chart to see how we look okay now you'll notice that we did take a lower low out we made a lower low here rallied up and took a lower low out so we tried it several times now it still hasn't broken down but this is a Friday folks in the down week man it's going to be hard for the Euro to rally to look good on the close it really is so we're probably going to close somewhere in this area right here so you could come in Monday morning and you could open below here and boy if that's the case get out of dodge because this is a market that's real money this is not one of the funny markets like we got with the S&P and some of these other commodities this is real cash money from country to country so it's going to mean a great deal if we get below that you notice that I have my my limit mind are in right here at 106 20 to see if that's going to be the case I bought here on this little pullback here just to see if it's going to hold and what I'm doing now is I have my stop it break even because it's up just slightly so if it gets below that on a Friday I'm not going to hold it and I've got to have at least a 50 pip lead on this or I will not hold this over the weekend it's just not it's just not conducive to good risk control so that's what I'm paying attention to as I'm looking here with the with the British pound the Euro dollar Euro the Euro versus the Euro currency not Euro dollars Euro dollars or US dollars abroad all right now let's move over to look at one other one that looks relatively interesting here hold on a second I want to get this gold chart up because this is one we were looking at when we were on the air just the other day here let's get this blown up so we can see it and I believe that was a four hour we were looking at there was right here you'll notice that we went up there was a 786 when we were on the air here on one Wednesday trading right there at 1668 we went from 68 all the way down to 35 so that's pretty close that's 30 wow 34 that's well it's almost 30 bucks and the harmonic number is 32 so it's pretty close you'll see here on the pullback get this out of the way we didn't quite make the 7 8% retracement on the pullback we missed it by a huge amount 50 cents and now we've bounced back right here this is a full day bounce so what we want to do watch to see what that full day bounce is going to be because if and I give this a big if we've hit the 382 here one two three four times we're sitting there right now at 1955 the only way that I would hold gold short over the weekend because I don't like overnight risk is if we close below the 382 substantially it's like somewhere down in here around 1940 if we're down there then yep I've got a nice lead and so I would say I will stay with it over the weekend otherwise never not going to happen all right let's pay attention here to the time here see what our breaks coming up and I think it's in about 40 seconds Jeff huge will be our break next week we're going to have I believe on Monday hopefully I'll also be doing Basil Chapman show I believe at 8 o'clock or 9 o'clock all right on Monday we'll be right back Jeff huge alpha insights 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 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 Larry Pesavento on stocks you need to pay attention to and you can trust Larry's analysis after all he's got 45 years experience as a day trader Larry will also provide daily charts videos and data on the key markets that he's tracking expect notifications from Larry on market movement you need to act on at any time first time subscribers also get a 30 day money back guarantee if you're not satisfied let us know and you'll get a full refund within 30 days of running up subscribe to the Fibonacci 24 7 newsletter today TFNN.com educating investors 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 TFNN.com and TFNN's YouTube 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 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 okay we're back folks and I believe we have Jeff huge of alpha insight on the line hey Larry how you doing just living the dream baby on the green side of the grass you've got a chart up here with point and figure man I used to do that years ago but I can't even remember how to do the points and figures when I see chart like this it has to do with volume doesn't it well it is purely price believe it or not there's no time no volume it's all about price change and you know it's an arcane method technical analysis that one of my former mentors a fellow by the name of Alan Shaw was very very good at Alan wrote a book on it and you know as a result having worked with him at city group for a number of years I read his book and I became familiar with it and you know there's a service that I subscribed to called stockcharts.com that has a nice platform for doing point and figure analysis and so you know I kind of plugged some of my own investments into their charts and trying to rhyme at some rational conclusion you know what I'm learning about crude oil here is that price action suggest it can go much higher I think so you're saying 114 barrels aren't you saying well that's with the point and figure analysis would suggest but you know I think you can look at some fundamentals Larry that really suggest that that's the case as well WTI crude inventory has felt to just 46 days last week that compares to the long-term average of around 65 days and it's actually the lowest level that we've seen in four decades. Meanwhile the month of August saw world oil demand post a new all-time record high so you know it should be no surprise that we've been seeing WTI crude prices you know pressing up above $90 a barrel these last few days my suspicion is that supply and demand imbalance that exists out there will have a lot to do with what happens to prices going forward. My suspicion is 114 is just the first rung on the ladder and there will be many more that it could climb thereafter. Wow okay I guess I'll have to get myself an electric car can't afford it anyway here's I got another point and figure for the US dollar too this is cool go ahead and you know the interesting thing here Larry is that normally commodity prices are inversely correlated to the US dollar right because as the price of the dollar goes up then the commodities should go lower because commodities price of the dollar but here we see the trend in the US dollar moving up in conjunction with the commodities themselves that suggests that this is not this is not a currency related issue this is a pure supply and demand change and one of the reasons I believe that the dollar continues to move up is because it's a safe haven and a lot of people are worried about the dollar because of the US debt well take a look at some of the other countries out there it's a lot worse you know it's maybe the cleanest shirt in the laundry put it that way amen to that that's for sure okay let's take a look here at the 10 year treasury yields boy I tell you that this is scary when you see rates go like this I mean this is this is a parabolic move we call this a breakout technical analysis 10 year treasury yield has now broken out on the upside above that prior you know 435 level that had been in place going back to October of last year and this bullish inflection if it is sustained projects at least a small measured move to around 467 then 495 and finally up to around 540 but you know I would actually direct your attention to the lower panel the lower panel in the chart actually suggests that the move index which is the move is kind of like the VIX for bonds it measures the volatility of the bond market and if we take a look at where the move index has been in the past when bond yields peak it's been above 130% where is it today it's about 106% so I heard a lot of commentators lately saying well don't worry about it every time the yields have moved up like this they reverse sharply lower well every time that's happened the move index has been above 130% so we got a ways to go I think and in my opinion we're going to see that 467 in the not too distant future and it would not surprise me 495 sometime in the next six months at the end of the day I think a bump of 30 to 50 basis points in the 10 year treasury yield could have a very very negative impact on the stock market just for outlook I would think but you know that's just the way the things run here let's take a look at here at another one you've got which is the rising rates this is what you're talking about right here tell them what you're looking at and this arcane you know point figure analysis to arrive at you know a conclusion that I don't know when it's going to happen Larry but the chart is telling us the 10 year treasury yield have the potential to rise upwards of 10.5% sometime in the future actually engage in some dialogue with one of my old mentors Louisa Mata who is the number one I remember her yeah I think about 10 years of her career and I said Louise what do you think about this chart I mean would you agree that 10 year yield can go she goes she goes I think it could go higher wow it's going to take some time it's not going to happen overnight but you know 10 year yields are definitely in a new uptrend and they could go a lot higher than most people would expect I used to watch her on TV all the time I've heard now for several years because she's got to be close to my age right I mean she's 55 you know you never want to talk about age when you're not especially with a woman never mind next question let's take a look at the next chart something that we can understand investor sentiment you're boy look at they're still bullish oh my goodness I noticed on the way down this was had nothing to do with fear or anything this was just a normal correction we've been looking at a cross section of investors Larry and you know it doesn't matter who you're talking to analyst advisors investors traders everybody is all pulled up here and if I just look at bottom up EPS revision Wall Street analysts are more bullish today than at any point in the last 12 months if I look at investment advisor sentiment you know taking a look at the investors intelligence sentiment survey advisors are actually about as bullish as they were at the top of the market back when the NASDAQ complex peaked in November of 2021 if we look at institutional investors their buying transactions showed the largest increase in net buying transactions in the month of August since December of 2020 and in fact it was the biggest percentage gain in the over the course of the past year and the finally options traders measured by the volatility index it's up a little bit in the last couple days but when I made this chart I think last Friday it was as low as it had been since the NASDAQ topped in 2021 I mean whenever you get this level of complacency this broad based investor confidence when the market is near all time or not all time highs but you know recent recovery highs it tends to historically mark a top or a turning point that I'm you know the market actually topped in price back on July 27th but it seems to me that even with the decline that we've seen a few percentage points of the downside investors seem to be very very bullish here okay listen we got to pay a few bills stay with us we'll have Jeff huge alpha insights back in about three minutes folks stay tuned you might think that if you want to be successful at trading in the stock market 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 in your inbox every day first time subscribers also get a 30 day money back guarantee if you're not satisfied let us know and you'll get a full refund within 30 days of signing up tfnn.com educating investors are you ready to take your trading to the next level introducing Tom O'Brien's award-winning newsletter market insights your key to successful active trading Tom O'Brien renowned for his expertise in the financial markets has designed market insights to be your daily guide to profitable trades Tom publishes his daily market insights newsletter every market day before the market open along with updates when warranted stay ahead of the game with Tom's real-time analysis and trade recommendations delivered straight to your inbox whether you're a seasoned trader or just starting out market insights provides to navigate the markets with confidence ready to join the ranks of successful traders head over to tfnn.com and subscribe to market insights today don't miss out on this opportunity to supercharge your trading results market insights comes with a 30 day money back guarantee for all new subscribers so you have nothing to risk don't miss out on this opportunity to revolutionize your trading game head over to tfnn.com right now to join the thousands of traders who have already experienced the power of Tom O'Brien's 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 lab you or labd directions daily s and p biotech three times bull and bear ETFs visit direction investments dot 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 and investment in the funds is subject to risk including the possible loss of principle the funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor four side fund services LLC this program is brought to you by Vista Gold traded on the NYSE American and TSX under the symbol VGZ okay folks we're back with Jeff Hughes alpha insights looking at market breath what are you looking at here it looks like that magnificent seven wow it's incredible on the left side you got that and on the right side you got the banks whoo there's quite a bifurcation between where the performance exists Larry this is looking at the last 12 months through the middle of September and honestly you know we take a look at where the performance is concentrated it's really in the hands of these seven stocks Apple Microsoft Amazon Google not Netflix Tesla Meta and of course Nvidia right you know this is the darling of the artificial intelligence intelligence chips and you know that can be said for the NASDAQ 100 it's these magnificent seven the growth stocks the mega caps this is where you know all that bullish sentiment that we just talked about despite rising oil prices rising interest rates etc it's all piling into these safe stocks these mega caps with fortress balance sheets they're avoiding banks small caps value stocks even mid caps are really not performing that well at the average stock in the S&P 500 only up 1.4 percent over the trailing 12 months that's not exactly a bull market in my opinion and normally when you're in a new bull market the stocks that are leading the market are the small cap value junk stocks you know these the stocks that are the riskiest are the ones that would be leading the market off the lows in a new bull market but in fact exactly the opposite in fact what it looks like is exactly what you would expect when the market is topping a very narrow market that everything's concentrated in the highest quality highest largest market cap the safest bets on the you know on the street so you know that really puts a lot of doubt in my mind as to the durability of this market's advance in fact we think it topped November 20 or I'm sorry July 27 and we think we're in the early stages of the next leg to the downside well I can certainly see why let's take a look at the next one which is your Elliott Wave this is what you're just trying to tell us now that this is a look like we're getting ready for the wave down which would be the wave five is that correct the wave three this is actually just primary wave three believe it or not we're still in the very early days but you know our preferred Elliott Wave count assumes that the October 13th low just marks the bottom of wave one down a lot of people are like are you kidding wave one I mean yeah it was five waves down but those were an intermediate primary degree of trend we only completed the first of what will likely be five waves down and you know we see this kind of tracing out a rare leading diagonal sort of pattern of the expanding variety had a lot of nuance to it and the subsequent primary wave to advance which we think topped on July 27th that completed an ABC zigzag corrective wave form where wave B traced out this broad flat pattern which made it a little bit difficult to determine what was happening until after we saw this breakout number able to figure it out but what we're seeing since is appears to us to be the early stages of primary wave three down and in fact next chart in the deck actually blows up these last four months and takes a really close look at what's going on in the market well that is there like I said to folks today I said if you think this is the bottom because we're getting this bounce I said this is both pathetic bounces I've seen I mean we can only we go down 150 handles and we can only rally 30 handles on a Friday wow I would want to be low stocks over the weekend loads of a day right now really oh wow see I was hoping that okay that's another one that we're watching here so I agree with this this is this looks very ominous in my opinion okay oh this we got a time we got a few minutes here for a little commercial so let's talk a little bit about your newsletter and some of the other things that you have for the folks Jeff yeah absolutely Larry so as you know I publish a monthly newsletter affectionately entitled huge insights the big picture and we put it out on the first Saturday of each month that happens to be October seventh will be the next publication it's the day after the non-farm payroll reports we like to have that kind of in our rearview mirror when we publish so we don't get blindsided by any big data but normally what we put in the newsletter is just kind of the big key macro factors affecting the economy and the stock market and we send that out to everybody every first Saturday of every month and you can sign up for free at hugeinsights.substack.com if you like what we're talking about from the big picture you can actually pay a small amount $12.50 a month to get our paid version which is much much more expansive it gives you access to our monthly market forecast our positioning recommendations we also give our paid subscribers a weekly report called alpha insights idea generator lab where we detail our top actionable trade idea every week as well as provide them with updated market commentary and then we also have some privileged access to interim bulletins which are usually reserved for institutional subscribers and some quarterly video content well you do a great job you got a fabulous track record so folks pay attention to what this young man has you can reach him at www.jwinvestment.com and we're going to have you on again really soon my friend so I'm glad you're back in the picture again I know you've been traveling quite a bit so I hope you stay around with us during the fall and winter months of course you won't see another sunny day there in Minnesota until about June is that correct that's probably right I always joke with Rich Anderson about hey thanks for joining us today Jeff we really do appreciate it it's always a pleasure Larry take care you bet Jeff huge alpha insights folks always a lot of fun to be watching now what we're going to take a look at here is we're going to go back and take a quick look at what's happening with the markets here get this out of the way we want to get up to where the S&P is because we were just chatting about that if I can just find it the only way I'm going to find it is if I do it this way so look right here and there's where we are oh my goodness this is not looking good remember we were just talking about this folks look how we went through this this is not really this is bad there's your ABCD right at the 382 up here at 96 now your 30 handles lower at 69 you went through here like it didn't even exist this is you start wow with two hours to go you'd start taking this out shut the front door and raise the rent be careful folks because this is this is really something this look how quickly it does it took it took what 1 2 3 4 took about 12 hours to do this and we take it all back in one hour that's not a good sign so it's approaching near the low of the days now remember this on the daily as you'll see here we were waiting for it the dailies what we're looking at is down into here there's your 382 on the whole thing which is at 4330 that's where we think we'll at least get to that spot alright another reason for that is this move right here but that's that's neither here nor there once we get below this which we're wow we've already done it no not quite needs to get to 46 was the old low last night so that's what you want to be focusing on to get this back up here to see it see the low last night was it 4366 then you had the ABCD we always talk about it mysterious pattern that no one loves except Johnny and I you got it Johnny hey let's take a break 877 9276648 if you're looking for potential trading setups in the stock market then Rocket Equities & 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 technicals sign up for Rocket Equities & Options report today with a 30 day money back guarantee 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 there are only 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 in your inbox every day first time subscribers also get a 30 day money back guarantee if you're not satisfied let us know and you'll get a full refund within 30 days of signing up TFNN.com educating investors everything in the universe is governed by the Fibonacci sequence this mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market to stay on top of stock patterns you can take advantage of the Fibonacci 24-7 newsletter at TFNN.com when you subscribe you'll get a weekly report from veteran day trader Larry Pezzavento on stocks you need to pay attention to and you can trust Larry's analysis after all he's got 45 years experience as a day trader Larry will also provide daily charts videos and data on the key markets that he's tracking expect notifications from Larry on market movement you need to act on at any time first time subscribers also get a 30 day money back guarantee if you're not satisfied let us know and you'll get a full refund within 30 days of signing up subscribe to the Fibonacci 24-7 newsletter today TFNN.com educating investors TFNN has launched 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 the Tiger's Den available to all Tigers and Tigresses 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 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 okay folks this is Larry Pesavento getting ready to sign off I'm going to remind our folks that I will be doing the 10 o'clock in the morning show for Basil on Monday then I'll also be doing my one o'clock show I do believe we're going to have on the one o'clock show Joe Denapoli will be setting in for us and as you know he's been looking for this break looking for buying opportunities and it looks like they're going to be coming folks what happens here these markets are going to trade and they're going to trade normally that's the main thing to keep in mind the fact that if we close below the 43-60 level in the S&P that sets up the price objective that we've been waiting for that comes in at 43.05 to 43.10 that's down another 50 handles this market is trading very normally folks it's just bearish what's wrong and it'll be dissipated one of these days and we'll have this humongous rally that no one will want to be involved in and yet that will be the one that makes it really exciting folks the good thing about these patterns is they work most of the time they don't work all the time all the time would mean they don't work at all so what you have to do is make sure when they stop working get out of dodge use a stop whatever you have to do else is going to do that for you I can promise you that this has been a very intense week for me given all the stuff that's happened but this is all the excitement that keeps me wanting to do this after 63 years of doing it hard to believe actually 64 I started in 59 wow 64 years and I'm only 26 that's pretty good anyway let's make sure we do one other thing is to help your neighbors folks do they are people in need of help it doesn't have to be money maybe you drive someone to the pharmacy or take them to the doctor do something you know to give back some of the things that the good lord has given us that we all really appreciate so keep that in mind and remember folks we're going to see on the flipside on Monday so may god bless