 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 folks We'll hopefully stay with us today. We had a little bit of a problem yesterday with Skype and also my data went out and Had a problem in the neighborhood with at the neighbor that had to be taken care of Anyway, this is that pattern we were looking at over the weekend three drives to a drop drive one drive two drive three This is no different folks than this move right here so far You can see the moves are very similar coming down So this is nothing more so far than a two-day correction This may turn out to be something greater But we won't know that and if we get below this which is down another 500 points Then we'll know yes, this is something much greater But right now you can't say anything more than that other than it's backed off If we look at this on an hourly basis, you'll see here. We started down. There was the big a bcd They're from Friday. Okay. Now what we've done now is we've come down and we stopped right at the 78% level We've gone below it a little bit. We're trading a little bit below now, but we get below 17,600 below these levels that we just talked about that's when you'll know that the market is probably going to go Quite a bit lower. Look at least make a pretty big correction Okay Now let's just move on and take a look at the Russell because the Russell was the same type of pattern And it's doing pretty much the same thing. Here's what we were looking at. This is the same 13-day pattern here from high to high There's high high. All right. That was off by one day. Now. You see you're backing off here very very slightly This is hardly any sell-off at all here in the Russell. You notice on this one it backed off quite a bit So there's really nothing to be afraid of here It does make it, you know, beautiful a bcd patterns just like we just will just draw these in so the folks can Take a look at it. There's your a bcd here There's your a bcd there And that comes down to this level right here. It should have got to 2098 it got to 2097 pretty close. We're trading at 2069 right now All right, let's take a quick look here at the gold market. Everybody seems to be Focusing on that but I before we get to that I wanted to show you the market for silver because silver has acted as already sold off $2,500 today from the high. Let's get this Chart up here in the silver one second here. Take me just a second I'm gonna put it up with the AI because it has a perfect fit today, which is nice There's where we are in silver coming down now. Look look where we are in gold We're right up near the high but silver has sold off a great deal So we're gonna look at this on the hourly basis And we're gonna see how high we got we almost got to the 1.618 expansion up here at 2451 we got to 2447 now we're trading at 2398 so we're backing off just a little bit does this mean that we could be looking for gold to back off a little bit Let's take a look at where we are in the gold right now Now here's the AI program with the gold you can see here that we've had a pretty good run up And it should have topped in here, but it's not it's still going higher at this point right here This is where the market should have been making it top But it was making a bottom that tells you that it still has power to go to the upside The reason for that is all you have to do is to invert it because these cycles flip and invert Just like they do and everything else in life We'll get this out of the way and get this out of the way You'll see there was your bottom coming in here In this level right here now this there's your ABCDs you can see those easy enough Well, this is a timing device that tells you that you got odds in your favor It's only right about 60% of the time, but when it when it's right, it's really right So let's remind ourselves of that now Let's take a look at a couple other markets here that we need to be focusing on one of which let's get it up Here because I think this is the one that will be You're gonna go back here and look at this and say holy moly guacamole. I like this one really a lot So here's what we're watching. This is the wheat market You know, they can say what they want about crude oil and gold and everything else, but that stuff is indigestible When push gets to shove people fight more about having food than any place else So we are now just 13 cents away from 533. That's where I want to be buying They go 532 and a half 533 is where I want to be buying May wheat Okay, we thought it was going to bottom here. I mentioned it had a nice rally of 13 cents And then it gave it all back really quickly So that tells us we're still heading down to this level right here of about 532 Okay, the other one that's interesting that we've been watching here is the soybean market And this is this is one that's really is on our watch list Especially with today's action look at today's action folks The low that we made today was exactly 382 of this whole move down. This is this has got potential for being Really super bullish now. It's not acting that way because you started to back off But look at this action for today. You came in Stopped right exactly at the 382 and you rallied And it's only nine cents, but nine cents is quite a bit But the way it's acting now it looks like this is where we want to be going with wheat going down It's going to be hard for beans to go up. So let's just look at this price From your xab cd. There's your x up here. Okay, we're going to move it down put it there There's we want to be watching the beans 5 11 33 that's down 10 cents from where we are right now this very small range So this is certainly possible. I'd be a buyer here at 11 33 Stopping here about 10 cents 11 See 33 23 put your stop right here at the old low. So you got to be a farmer for 500 bucks. Certainly. Hey look folks. I this you know been watching this stuff for a long time Long term look at what look where we are right now. Okay This is like where we were this this cycle thing is no there This is like where we were back in the 70s when they had the russian grain robbery. Now. This is a weekly abcd to the downside Do we have another abcd coming to the downside here possibly? Yes, there could be a washout down at that level I don't believe that there is but remember this is march folks You see this distance right here between march and april This is when the farmers go out into the field and spread those seeds around put in the fertilizer And then we're going to find out what it does see what happened last april. We came all the way down into june You know and look what happened after the crop was planted It looked like it was not going to be anything really great and then boom. Look what happened We rallied three dollars a bushel. That's what i'm looking for Is this particular pattern coming in here is another one here. This was in july They start late sometimes. That's when the weather changes, but of all these years. I've been in here I've never been in a year where we didn't have at least one or two crop scares So that's what i'm following here. Those of you that get the videos each day. That's what i'm looking for So keep our fingers crossed and we'll be there when the uh, the band plays and that lady sings the final Value of the national anthem. All right now. Let's look back at the stock market here for a second. This is the Dow Jones industrial average here. This is a four minute chart What we're going to do now is we're going to go down to an hourly chart Because I wanted to show you something that I think was important We had an abcd coming down today, but now we've come lower You see we've just about made The bigger abcd that's here. Let's just clean all this out. I know you're love to see these abcds, but We're going to be here eight seven seven nine two seven six six four eight 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 it 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 mark 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 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 traders who have already experienced the power of tom o'brien's award-winning newsletter market insights firsthand tfnn educating investors Are you ready to take charge of your financial future? tfnn is your gateway to the world of trading and investing Whether you're starting out or scaling up tfnn empowers traders and investors of all skill levels with top-notch investing systems Strategies and techniques. It's time to protect and grow your money with insight You can trust join us live monday through friday during market hours for exclusive content that moves with the markets At tfnn we bring the trading floor to you our season hosts are here to answer your calls and questions live on the air Check out the tiger's den for just one dollar and follow us on youtube and become part of our vibrant community And remember at tfnn we're so confident in the value We provide that we are for a 30-day money-back guarantee on all new premium newsletter subscriptions and services You have absolutely nothing to risk So why wait tune in live to tiger tv and transform your trading journey because when you know better you invest better Join us and experience the difference today tfnn educating investors Call now toll-free at 1-877-927-6648 internationally at 727-873-7618 Okay folks, this is the dow Jones industrial average here. I just want to go for some of these a bcd patterns Going back over the last year. So you can see the bottom Was made here. There's a bcd. Uh, just see how close this one comes a bcd Uh Well, let's get pretty much on the money that we have another one. This should have gone to at 38,226 and we got to 39,003 So it went another 1100 dollars now When it maybe because of this gap, I don't know But I know this was the one of those big earnings gap that we had here was the big big cycle bottom there on October the 27th when we had the lunar eclipse Okay, now when we exceed price levels like this The first thing I want to do is I want to check to see if I expand this by 1.27 If it tells me that that's what the level was and if I move that over You'll see that it didn't even get to that level. It got to 39,982. So that missed it by quite a bit now folks I am well, let's just not worry about that here, but anyway, we can see we're starting to back off a little bit I think we're making new lows on the day right now. Hold on. Let me get this up here to see Yeah, we're very very close here Making new lows on the day and I think we're heading down to this level that we just looked at Let's just get this up here On the hourly chart. I think it's 30. There we go. That should be coming in here today 38613 we're only 70 points away from that level So that should be the first level of support Then we'll find out whether we have a pretty good rally the last rally we had lasted three days It went from 38,800 Up to 39,200 so the dow Jones rallied 600 points Into this move right here and now we're coming down reaching towards these levels right in here, but I When I see what I hear what's going on with bitcoin I mean, I'm not I'm not involved with the folks But I've I've got a library of this stuff that I've studied very very extensively And it's just like a just like the shoe shine boys back in the days of The top of 29 and and also this other stuff that's out here. This is uh, I know you're not you're not involved with it Like I have been my whole life But when I see stuff like this and I see stories where people put these things in And you you the bitcoin it's a figment of every you know There's an old adage. I think it was by Uh, Abraham Lincoln, he said it's better to keep your mouth shut and be thoughtful Then to be open your mouth and remove all doubt. Well, I've been doing this for 17 years So you already know what that is But anyway, I just be real careful if you're involved with these cryptos I would run like the wind away from it after what's happened these last Last week it was coin based this way it was uh, finance and believe me Binance is a chinese company. Thank you. They're not in any control Yeah, sure. They get fine here and there but now it's what's four billion dollars. Is it in their money? Anyway, just be real careful. There's not a it's a jungle out there And we're the levels here in the dow Jones as you can see here the s and p all these others Uh, we we're at a level where we could really see uh one hell of a correction Let's just look and see what a 382 correction would be here in the dow Jones 382 correction would take us down Only uh the 36,720 only 3,000 points And believe me folks when these things start down, I know you don't see it here But we know from old markets that when they do start down They go down and that's the bottom line of what we're what we're looking at right here from my perspective On this particular move like this if we close below 36,000 today 38,600 that's 100 points of where we are right now I'm going to add another contract on if you remember from our previous session that we had when we had this last rally Went right up to the 78 percent level. I pointed that out to us yesterday on this move There's where we were to the exact tick right there and if you look at this There's a nice little three drive pattern right there. There's drive Drive one Drive two drive three. We could just draw that in and you'll be able to see That's what we're looking at Right now and did I go through the uh am I talking through the whole uh, I guess I did didn't I Wow, maybe not Son of a gun. I thought there was a break in here, but evidently not. Anyway, that's what I'm watching here With this so if we get below this 36,000 level 38,600 I am going to Put another position on just because this market is Got a lot of people long folks and when they try to get out to that door that the hinge on that corral door It's a little rusty at these levels. We haven't seen anything like this before You guys you weren't you weren't I what I haven't seen anything like this since the topcom bubble And that was anything like what happened in you know, 1929 You know 29 the market rallied 30 in three months And then I wanted to do it gave up 95 of it over the next Three and a half years. So be real careful up in here folks. And remember in 29 We had the greatest economy going refrigeration television radio automobiles You know, it was just amazing all the telephones all this stuff was and what happened Took a long time for the market to rebound from that because it didn't make a new higher high from 1929 until folks. Are you ready for this? 1958 you went back that many years folks that many years 27 years For 27 years to get that after those old high levels But then they say yes, but look what it did after that. That's correct We live in the greatest country in the world. And don't you forget it? We're here for a reason And we're having some fun. All right, let's move on here Let's see how we're doing with the old time on the wall here. We got two minutes left I wanted to cover someone asked a question about this Stock that I have no idea what it is. I accepted its Micro strategy. It's the uh thing with michael sailor. Let's see what it's doing today here This is the one that gapped up. Well, it came back and filled the gap. That's one thing that's done here Here's what it here's was yesterday and it went from 14 000. God it's turned drop 4000 points here folks Now, let's just look at this on a real short term time frame We're going to look at it on a real short term frame because this should should be oh, I don't even know if I get the data Now here it is. Here's what we are. This is what's happened. That's trading pretty good It's an eight minute chart and right here right here is your first uh, this is your first place to Oh, this is beautiful. This is the best the best pattern you can get in all of short selling right there abcd There's the 382 is right there. So it's right on spot almost exactly at the 382 We're going to paper trade this folks going to go short here at 11 93 And we'll put a stop here at the 1203 and we'll see how this thing Works out, but that's the best pattern that you want to be looking for Okay, we will get that sometime in the stock market here But probably not today because it's a little bit early here today. We might not even make new lows Who knows has a high probability of it, but still not too much All right, let's double check the clock on the wall. See how we're still got a minute to go Got a bunch of questions here that i'm going to try to answer as we go through One of them is with the with the corn. So let me get the corn up here because I I really think these are going to be affected by the Uh, hold on by second by the wheat market because the wheat is uh, it's a really big one See we're back to the 382 now In the corn and you can see there's another abcd coming in here. I think this is going to hold But again, um, you're never sure but it still should hold. That's what I think is but watch that week That's the one that you want to be looking at boys and girls We'll be right back 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 u.s futures market and the shanghai gold exchange the gold report tom obrien 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 obrien's gold report newsletter now at tfnn.com Currencies commodities and bond markets are as important as ever right now with how they're driving the volatility in equity markets across the globe, which is why it's a great time to try out teddy keg stats tiger forex report Teddy keg stat breaks down the forex markets every monday using his 30 plus years of experience as a trading veteran of futures forex stocks and options Teddy releases his weekly tiger forex report every monday morning with coverage of all the major currency pairs Including the dollar index the euro dollar pound dollar dollar swiss Dollar yen as well as many more and he also has weekly coverage of the crude oil market and the 30 year t bonds As they both influence forex markets tremendously when you sign up for the tiger forex report You also gain instant access to teddy's 60 minute webinar archive He just hosted forex strategies and fundamentals What is behind the tiger forex report 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 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 sign up for the fibonacci 24 7 newsletter at tfnn.com When you subscribe you'll get a weekly report from veteran day trader 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 signing up Subscribe to the fibonacci 24 7 newsletter today tfnn.com educating investors 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 Okay, folks, so we're going to take a look here at the weekly chart on goal to try to see where our targets are This is where we had the big move up into new high ground the member of the market dropped 100 dollars in one day We went from 21 52 All the way down to and today well, this is a weekly but this one day was Over 100 dollars 120 dollars And made a low right here And if we looked at that on the weekly from your low up to your high You'll see that was spot on exactly 50 retracement That high was at 21 52 the high today was 21 50. We're trading at 21 49 right now This is either going to be a double top up in here Or we're going to complete one more swing That would be your a b c d a leg right here And that would take us up to 2204 now the difference between 21 50 And that's 50 dollars folks and if you can move this much in one day You can imagine what in a week you can imagine what it could do in a couple days So we could easily see 2200 uh in the gold market Here here's my dilemma folks. I people ask me this Question and I I don't know how to answer it if we take a look at what gold is involved This is the gold miners index, okay This is really uh Like it's hard to believe that this is what it is look It's actually close here's There was a low just a few days ago. We could only make a 50 percent return. Remember gold is way way up here Look at this on the weekly chart folks Now you can tell me we got gold breaking out above these highs back here By a lot and all we're doing with the gold miners is doing this What I mean, this is like the the uh, what do you call those uh bitcoin miners? I mean if they're mining something don't they get paid for it that this should be Mother God and country stuff, but no one's been a I should ask Tommy O'Brien Tom O'Brien because he really knows this more than I do, but I don't understand how the gold miners Can be lagging so badly given the fact the price of gold And silver are moving so much higher Let's look at this sorry folks on the See where we are. We're right at the 50 percent level today The high on the day was uh 29 20 we're trading a little bit below that right now But that's the thing that I asked myself that I believe me. No one's more bullish on gold Than I am I think it should be trading at 3,500 to 7,500 but I've been bullish gold since Hector was a buff and that dog's 13 years old now. Okay, let's move on here and get on ask another question It's or two that someone might ask and that is about the live cattle Let's get this up here And we haven't even looked at live cattle today because I've been focused on too many other things as you can imagine Hold on here Here is April cattle We're trying to get oh, we're getting close. Just be patient. Just be patient. It's getting there It's getting there There it is what you want to be looking at that's up another four cents This is where you want to play the game here in the cattle up here at around 192 Trading it just four cents away. That's take this out. We're going to be there in a heartbeat There's your a bc delay coming in right here. This was the three drive to a bottom pattern This is what we're looking at in some of these other markets like wheat and other places We'd like to see something like this then have the big move up Okay, now the next one someone asked about was the piggies so look at the piggies up here one second And we should be okay here. Hold on. There they are. Here's the April hogs These also should be uh, uh, they're down today shucks See we were well, they did it completed this one up here at 88 60 and now we are moving down So how close should we be to coming down here on the hog? So first thing we want to do you've got an abcd pattern right here You've got it. Let's just clean this out so we can see it real clearly There's your a bcd pattern. All we're going to do now is to see for the previous low Looks like spot on 50 percent. There it is Let's just draw it in again using the tool to make sure that it's accurate And that tells us that uh, we're a little below the 50 3a 2 Not quite to the 50 percent. There it is right there. So watch it there It's uh, it's still near it's still down on the day. So watch this tomorrow or today Down here exactly at the 50 percent level here, which would be down about another 80 cents So watch that there's where your abcd comes in At that point in the hogs. Okay I think that would be perfect You can see here the 1.618 expansion and how it told you where the high was Up in here just draw this in so you'd be able to see it easily. In other words, you took that whole distance here From here down to there. There's your 1.618 expansion and that came within Wow pretty close. See this is 48 90 Well, this is it by 60 cents and now this is where we are Right now here in the hogs Okay now someone asked a question about why is apple apple having so much trouble Well, it's having trouble all for quite a while now because it's been in a downtrend given the fact that It's got so much bad news going on. Oh my goodness big gap down today Oh, we're right at the one. Well, if you want to buy apple, this is a place to buy it You're right at the 1.618 expansion of this whole move down folks the lords That's not correct. Let me let me do this differently because that changed a little bit There see this is 61 percent retracement is not right because it's already gone below it You can see we're headed down here to this level right here This should probably be done on big volume a lot of bad news coming out of china And I mean this is where it should have held right here bad news came out boom Down she came it should have been out of if you'd bought that here You had a profit in at the end of the day, but boy on the open you should have been out at 177 and down she came so Doesn't look like it has any Well, it's not that bad shape. It's just about the 382 There's the old high right here Maybe they're giving this thing a bad rap. Let's just take a quick look here There we are they're setting It's a little below the 382 right now Yeah, there's the it's setting right at the 382 is 171 and change it's trading at 170 70 If you wanted to buy apple the only thing I could say is it's cheaper to buy it here Then it was there and was there and was there it's cheaper to buy it right here But it's the only thing I could say but frankly with these gaps down I would say gaps are unknowns So you don't want to mess with that try to find the easy ones folks That's the setups that you're that you're really trying to find okay now. Let's get back here To another one. It's always on everybody's mind except mine because I don't like electric cars Can't hear the engine running. I'm not going to get in it. Okay. Let's move on here to tesla And we'll get up here Oh tesla's coming down also isn't it well tesla's been very bearish you can see here This is what we were saying here last week There was your 382 right here. We couldn't even get there See the 382 came in at 208 the high was uh 206 And we'll you know 208 was that and look where it is now We had a couple of mice you can see the small abcd's that have formed right in there We can blow them up and those of you don't like abcd's maybe you'll learn something from them, but there's your a b c d and another a b c d And then down she comes Where is this mean we're hitting all I can tell you is folks This thing rallies a little bit sell it because it doesn't look very good There's where you are the longer term picture here in tesla Three lower highs remember the 135 batter. This is telling us wants to go lower boys and girls somewhere around 128 Let's stay tuned eight seven seven nine two seven six six four eight 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 basal 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 and stock prices Get the opening call newsletter by basal 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 marked insights to be your daily guide to profitable trades Tom polishes 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 season trader or just starting out 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 dot com right now to join the thousands of traders who have already experienced the power of tom o'brien's award-winning newsletter market insights firsthand Dfnn 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 eight six six four seven six seven five two three The prospectus or summary prospectus should be read carefully before investing an investment in the funds is subject to risk Including the possible loss of principal the funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor four-side fund services llc This program is brought to you by vista gold traded on the nyse american and tsx under the symbol vgz Okay, folks. Someone asked me to take a look at coinbase. I don't know what it is I don't we looked at the last time we were You can see there's where the highs were made last august and we had a 382 here There was your first really clear guardly. You had a beautiful guardly there at the 78 percent at 46 It hit 240 today. That's a heck of a run and Let's just look to see If it's any of these patterns that we look at there's your a bcd pattern right here a bcd that measure two 231 trading at 224 right now the high was 239 so it was a little bit Above the a bcd, but we had some gaps on the way up So let's look at this on the weekly, but you know, I don't know anything about these things I should just shut up. But there's where it first came out remember when they were first listed Back in 2019. So that's even farther back But there's where we are. We're at the 50 percent retracement of that whole thing But look we've gone from 40 To 240 here in just about 13 months. That's uh, I did more than you can get at the bank of america. That's for sure Okay, let's move on to the next one here that we want to take a look at As far as hold on one second. I want to bring something to your attention here Regarding copper someone asked me a question of copper And I'll get this up here Okay, here's copper used to be known as dr. Copper, but It's actually held up incredibly well consider we had this big move up We've had three lower highs in here now drive one drive two drive three right at the 78 percent level Had a little bit of a rally and this looks like it has bias to the downside folks here in copper Whether that has any bearing on the stock market anymore I don't know because everything's related to ai in the stock market and for that we don't have to Worry too much about what we're looking at here today The one thing that I do we've only got six minutes to go in this segment Yeah, well look here I want to get this stock market thing up. Let's let's do the s&p here because Do the sp y it's right there Because this is where we are and I prayed some of you folks here are going to get hurt really badly So just be real careful Here's we are in the long term weekly You notice that what we did do here This is going back over quite a few years as you can see here and move this over just a little bit Okay, we did make a 1.27 expansion Look when we had this three drive to a top pattern here back in 2022 folks Market went from 480. You dropped about 40 percent Okay Now we've come up and we're sitting at the 1.27 expansion of this whole thing And boy, believe me, there's a lot of space between there and there and there and there So be real careful folks The thing you want to worry about here. You see last week's low here. I'm going to go to a daily just to show you what you should do Put your stop under last week's low, which would be right there at 504 Okay, 504 it's trading at 507 in the cash s&p Put that right there now. We should convert that Into the e-mini s&p. So you'll be able to make that correction yourself So if you move over here Go to that daily chart This will take a second All right, there's last week's low 5060 so if we see it trade below 5060 we're at 5084 right now Trade below that would not be very good in my opinion. Okay, especially after all of these patterns are up in this area right here This is pretty much we're almost on the lows of the day now within a couple of points of that But when we go below this level right here It's going to be pretty tough. That's uh my two cents worth and i'm sticking to it We've gone through all of these abcds before I don't want to go through them again because They're they're not going to change much. That's for sure But I believe we're right near the low of the day as a matter of fact That's what we're doing. We just made a new low here in this s&p So the key level there is uh if we go below 5060 There's probably trouble in river city and you don't want to get involved With that. Okay. One other question About the soybean meal. Let's get soybean meal up here because this is pure protein folks This should be the one that leads the the parade up. So here's the daily On december meal and you'll see here it's still not moving very much still coming down We're going to blow it up right here Take a quick look at this because I think here's another one that we want to be watching very closely You can see all we did the last few days as we've just been coming down The many of these are three eight two retracements the retracement that we made here today off of this high right here Came in not quite at the three eight two It came in off of the last rally high that we had here just about exactly 61 percent retracement and we're still heading lower that sets up a possibility here This is why we're watching the wheat and the beans and all this stuff So carefully is that we could be looking at a really nice a bcd There's a bcd. Let's just draw it in. There's your drive one drive two Drive three now It's either going to stop it here 329, which is nine dollars away or down at this level right here This is what we have to determine and To make things really exciting. Guess what happens on friday folks another grain report And that's the day we're going to be sending my good old comrade out into the old Harbor there in moral bay and spreading his ashes of mr. 20 men all over there He's a boat member of the Neptune society and they have a big fishing yacht there that they take the ashes out You can bet your sweet bippy. I will not be on that boat I'll crack the champagne across the bow, but they're not getting me on a boat I don't even get on ships and that's where boats are hung from If they try to get off. Anyway, here's what we're watching here. Pay attention We get down to this level you want to be watching this right here It's one of the videos that I send out At least two or three times a week as we're ready to be a buyer in here The beans are acting holding up. Okay. If we look at the soybean oil There's another one that has a lot of interest for us Get up here to that right here. There's your Christmas oil And here's the same thing. We haven't broken out to the upside yet, but we're getting ready Somewhere here for see this soybean oil move to the upside so I'm watching these because This is my last dance for these I'm afraid folks because I've only got a few years left And I don't think we're going to see anything better than we can get this year And I want to do a program that I haven't done in a long time And that is buy more is things go up and that I haven't done that for a while Basically, I scalp will not scalp my trade patterns, but you can do this and we did this on the downside in treasury bonds If you'll remember with treasury bonds were 164. We said they were going to 128. Nobody believed us they went to 107 but That's the kind you want to get on because those are those are The educate your kids Put a new wing on your house or whatever you want to do But anyway, this is what we're looking at in the bean oil Not too much going on yet. We might make another low in here. So that's what we're watching Remember we got the report coming in friday and that's then we got the planning intentions coming in right after that I believe and that's when the Farmers say yeah, this is where we're going to start planning our stuff and then when it's planted That's when god takes over and lets the rain and some rain come when the sun come up Whatever it is and see if the crop's going to be any good But like I said many times I've been doing this for 60 years and I've never been in a year We don't have at least one or two Crop scares and that's what we're waiting to see here this year if we get one because boy If you think people get excited about crude oil in 120 Think if they can't buy wheat at 13 dollars a bushel and where did it go 13 dollars a bushel? 550 a bushel hello operator eight seven seven ninety seven six six four eight 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 technicals sign up for 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 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 sign up for the Fibonacci 24 7 newsletter at tfnn.com When you subscribe you'll get a weekly report from veteran day trader 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. 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We're trading at 50 85 We just made a new low at 50 80 and if we get below 50 60, this would be the first time We've taken out lows. You see the low here low here low here higher lows all along This would be the first time that you had one that didn't didn't hold up and that was coming after You know, you had the last little Move up to the upside right there at 41 46 the high was 41 50 set 51, excuse me 51 41 the high was 51 57 if we get below that that would tell us. Yeah, that's something that is Gotta be a little careful in here. Remember this goes back to the february lows This would be the first time That we've broken below the previous lows since february. That's 22 24 trading days folks. So Respect that you get below 50 60 what i'm afraid is Well, i'm not afraid of anything but because i try to use stops, but if we gap below here Boy, if we gap below here, that's That means you trap the whole bunch of folks and you don't like to see that happen here. Okay Anyway, that's what we're paying attention to here and we'll see what's going on I hope that helps everybody. Thanks for putting up with me today. Thank thankfully the skype and everything worked All right today, but we live in interesting times, which is the chinese curse one other thing Chinese premiere is not going to do the press conference this year. That's a big deal And i don't know why but Better pay attention to things like that some things that are different to pop up They could be precursors of other things that are happening. What i don't know Just be careful use a stop live every day In an attitude of gratitude and may god bless and we'll see you the next time the gods are willing and We'll talk to you soon folks. I think that's it for the show today So live every day in an attitude of gratitude and may god bless