Testers. The following is a presentation of TFNN, the Tiger Technician Hour with your host, Basil Chapman. Call now. Call free at 1-877-927-6648. I run Basil Chapman on this Monday the 24th of October. This is the last week of October. And what we are looking at here is that the down is up 209 and 31,292. It had a big spike, a gap-up spike into leg C. It hit the Chapman Wave inside wedge target resistance line and is now pulling back a little bit, 31,570 was the high. It's down, it's 270 from that high. It's at 5 at 31,303. And the MACD Strong Stochastic, great at 85%, had on balance volume, still doesn't want to get going. And that's just a signal to me to say this is a very selective rally at this particular point. It's not one of those great take-offs where the market explodes to the upside and just has power off the power with the entire, the Dow, the S&P, the NDX100, the QQQs that is, and the IWM, which is the Russell 2000, just pushing it, trying to chase one another to see who could be the leader, not that at all. It's very selective, we've chosen the Dow to be selective. We did choose the Qs this morning and it got taken out very quickly, very tiny percentage loss, but at the same time more than made up for on the upside with what's working. But that's not the issue. The issue is for the Qs, we'll get to get there. So this is going to S&P, also the same thing, very nice move to the upside, now pulling back towards the low of the Dow, gap up, gap up, open 37.62, it's trading at 37.62 right now, up 9, it went all the way to 37.96, I mean that's 36 points higher. Very quick moves. I wonder if I could just do that quickly and I'm going to use this because we want to get to the estimators, yeah, so that was a peak C failure in the one-minute chart. I think of the 120, considering that the rally started way early this morning, yes, it went to that peak D with a long-legged doji candle and now we are underneath the doji support level and this horizontal line that I drew that goes way back to about the 18th or so of last month. Yeah, so we're actually pulling back, we're now only up 250 in the E-mini S&P in the 10-minute chart and that says, watch out, 37.45 is the 200-period roofing average that was support earlier on and lower down on the turnaround at 5 o'clock and then it went to a bicycle to a bimode with a cup formation but you can see the vertical, I love to do this, this is what I teach all the time when I'm doing my courses, look, the left side peak C was way stronger technically than the right side peak D and now you can see the results just starting to pull back. All right, let's get back to our story here. So we're talking about the S&P, now we can get to the QQQ, the QQQ which is, 1, 2, 3, is the NDX100 training vehicle in Vesco QQ Trust series and what we're looking at is it didn't make, it made by a penny I think, yep, about a penny or two, a high going to a leg C with a stochastic way down at 57% and the MAG-D good and the stochastic looked as if today was the day that it was going to attempt to cross, sorry I said stochastic, I meant the 9-period, pink 9-period moving average in the daily was about to cross positive and that would be a huge thing for the first time you would see the QQQs crossing positive since they broke down back on that huge decline that day, the 26th of August, 321 was high, 307 was low, 334 was the August high and we plunged down to the 254s so this is a kind of, I'm going to be polite, I'm going to say it's a pathetic ratty failure right now and we're looking at the SMHs, I must include them because they are really very much part of the QQQ, didn't make a higher high today, in leg B, actually they're holding if you can say it's a tad better, just a tad better because this is the first time in a while that you've got 1, 2, 3, 4, 5, 6 bars ready early in September going to peak A, this is going to 1, 2, 3, 4, 5, 6, this is the 7th bar and it's not great but it's holding a little bit better while that weekly chart is terrible and the monthly is terrible, so I wanted to give it a chance today to say you know what rather than choose individual stocks just at this particular point, I'm not yet 100% comfortable, we do have individual stocks that have done really well but at this particular point I want to be as selective as possible, putting cash to work in a very selective way, so here we are in the index down 3, at 183.30, if you go to the IWM, unfortunately there wasn't any leadership there, it's now not a good chart pattern at all, it's the second, it's the lowercase H that goes to a second little arch right here and let's see if we can change that from an arch to a cup formation but at this particular point it's stuck in a rectangle basically between 170, it's called 76 and even on the downside you don't have to go down to the 163 level, you can go down to 168, it's just stuck in this range for now, it needs to break out on the upside decisively if it's going to help the weekly chart otherwise that becomes terrible for the IWM. Okay let's go to gold, gold is down three and a half at 1653, it's just not a great chart pattern at all either in the daily, the weekly or the monthly, it had a fabulous rally, broke out of the resistance levels even the 50 period moving average back in early October, screamed up to the 1735 area 36 and now look at this, it's at 1652 and struggling, MACD is not very good, stochastic still very low at 14%, the 90s under the 14 period moving average, pink in the daily and you can repeat the same thing in the weekly although the histogram started to improve a little bit meaning the MACD is just improving a tad and the monthly looks very poor so gold is going to have to really reflect the dollar's weakness if it does start to pull back sharply we'll get to the dollar in a moment but as I said silver is a much better chart formation than gold but it's still not doing great it is up 19.01 today at 19.09 and the weekly chart just says ah stuck until you're trading hey wake me up when you're trading in the 22s but I really like to if it's going to move up higher get the position so you can you can use the rally to best benefit high-grade copper high-grade copper is right at the two Chapman Wave inside track repellent zone got repelled again at 3.44 down 0.03 did hit 3.5 but it couldn't hold there so the moment you saw us trading at 3.53 that's a nice turnaround in the daily chart the weekly chart will need a lot more let's go to the did I do the dollar yes the dollar is up 31 ticks at 112.32 it is fighting between the arch formation or the cup formation and I said that the left side test was on weaker technicals but we'll have to wait just wait I think that the dollar is in a consolidation phase wait a minute if you look at the USDJPY this is the yen this is a dollar yen currency pair we've got a peak D a leg D on Friday it's actually an alternate account but I'm calling it a D for now and this is a fabulous turnaround intra overnight intraday and it's still a leg E in the monthly chart so it's actually holding very well considering that the MACD is about to cross negative the stochastics at 82% pulling back but so far the nine is way above the 40 remember how important I said it is nine is the leader the line if the 930 the average is holding above the 40 it's really important the E U R Europe trying to rally yep it's within a range I'll be back bezel chap attack this is our thousand 246 as a piece of 11 be right back 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 are you looking for a way to consistently add 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Hello folks so a couple of questions came in let me just quickly do this before I go to XLE Baba we spoke about the other day someone had sent me emails saying I think was GT saying that put positions on Baba and I said well that you know this is that whole Chinese area just it's so weak the FXI is weak which is the China big cap ETF and I'll look at this Baba's down 17% down 12 at 59.86 great call GT on the on the I don't know if you actually had the post you were mentioning the post yeah this is the volume wow that's amazing all right so I just be I don't void the Chinese area why I don't we have enough problems why would you step into a country that is guaranteed to give you problems just so yes a short side fine great you know what you're doing there that's that's not a problem at all but I am saying that buying a certain on the long side anything in China this particular point it's just hazardous to your to your health and your wealth so you're looking at XLE so the XLE today is acting very well it's up 41 cents 87.44 there is this W formation that's making a one cup formation that kind of failed at the previous half 93.31 the 8th of June plummets down to the 65ish area then right is to the 84s at peak D so I never like a peak D underneath the previous high the previous high I want to see taking out a leg C that's really positive fading underneath and says you know even even when you unless you're taking off from a major major low obviously if you're going to higher highs at higher highs and higher highs you're going to get to a D and then you're going to even recycle and get to another D but if you're already in progress and it's not directly market related then fading at a peak D says to me just be careful well in fact it went from the 84s down to the low that was made at about 6680 or something if I remember correctly 6866 and look what happened it goes to peak A peak B peak C leg D and the chaff wave now I haven't done this I don't know I yeah I have to move this to the I've taken this peak D here's the midpoint but actually I like to be a little conservative I like to be I like to look at it as if to say all is there a particular candle that you can use because visually just I'm just not mathematically anything I'm just saying visually well I guess it is mathematical I'm saying visually it doesn't look like like it can get there shorter it can get there longer but I want you to put at least where I've got the chaff wave inside track repellent zone I'd like to see if that can join up but sometimes you have to use the bars as your your benchmark other times you have to use either candles or a new chaff wave inside wedge target resistance line but if I just join these as they are right now it takes me to about uh let's say it takes me about to the second week of November to get to the 93s it's an 87 so five points these days is not that big for the XLE but that's what I'm looking at however at leg D Magdy's good nine periods over the 14 period moving average stochastics fabulous and 92 on balance is volume a little a lot on balance volume is lagging a little so my suspicion is we've got a little bit of a pullback coming and then we'll see if we can get to 89 50 90.30 in this by about Wednesday or Thursday that's going to say uh oh acceleration up targeting the 90 to 93 area but if it starts to stall and pulls back it's an 87 96 right now 87 oh I'm sorry 87.04 if it pulls back to the 86.30 in the next day or two it says it's going to stall out a little bit so the question was uh cheers basil uh cheers Ron uh what's your take on the XLE and my take is the XLE is in a buy mode in the day a buy mode in the weekly and a buy mode in the monthly and that this is I would say that any serious pullback is a buying opportunity and I'd have a wider so I always put in a stop but I'd make it a wider stop to give it some room because the bias is to complete this rectangle with one cup now in a second cup in the weekly chart attempting to get towards or to the peak D that was made right here the week of the 10th of june at 93.31 and that'll probably if it goes to 93.32 go to a leg F in the monthly chart the monthly chart has a huge cup a bowl formation with a 99.73 high back in june of 2014 and you can see that there's where does that go to that goes to there that takes you to the last week of december the first week of january for which that 99.73 area would become a target but let's go step by step next question came in just to let's see your baseball says axon come fly with me come fly with me that's okay 105.79 down 77 down seven cents with a doji candle in leg E magdi strong stochastic is very good 93 on balance volumes a little overboard and it's in a leg D in the weekly and i'm suggesting the axon has been a kind of a leader beautiful capital gains plus dividend and it might start to store here in this particular pattern stalling is different to having it short i would not touch any of the oils as short unless it's just a very you know unless you you've got terrific signals that say you know what it could call could pull back very sharply right here i'm getting in i'm getting out and then i'll wait to see if maybe i buy it again but this is acting very well at this particular point it's to cvx because they go together and cvx is in leg d as well it's under its previous high of 182.40 it's at 172.58 down 63 cents today and all i can say is uh let's look at the monthly chart yeah i think it's also going to re-tackle that previous high back in the Chevron multinational oil back at 182.40 so it's acting very well it's above its resistance line in this little trend in this little chapter we've inside tracked a repellent now it's not yet a propellant zone but it's certainly above it and that's important all right so we've got the oils let's just go back to crude oil right now then i want to look at yep crude oil is now it's about unchanged look at natural gas natural gas has a nice candle today first green candle in about seven sessions now the big thing is this uh so we had a discussion the other day about the weekly chart of ng natural gas continuous contract and i said yeah i could make a case for a chapter we've unconventional flat base restart it's very unusual and that could have gone to a d but that's kind of i don't like to stretch a technique if you if you start to modify and and formulate or reformulate your criteria what do you've got you've got nothing so all i can say is having a look at this pattern it's more like the groucher mox if anybody know groucher mox i actually didn't particularly like grouching i didn't think it was all that funny but maybe you was i just didn't watch it for that much this is for the groucher mox eyebrows he had this thick eyebrows he was a comedian uh the mox brothers three brothers i i don't like slapstick too much anyway this is i call the groucher mox eyebrows pattern it's like the v shape pattern and then it comes down it comes down usually not as sharply but if it comes down this sharply says you almost have to restart a buy signal to buy mode and that might be happening right here we'll get back to you at the soon as i return if you want to take advantage of this sector now is the time to subscribe to my gold report the gold report is a comprehensive look at the metal sector as well as the markets that move gold which is the currency and bond markets new subscribers get a 30 day money back guarantee so you have nothing to lose every monday morning i published a gold report with coverage of gold silver bonds the xu hui gdx as well as more than 30 different mining equities to see for yourself the types of profitable trades that are recommended within the gold report sign up now by visiting tfnn.com don't miss out on the next great gold trade sign up today tfnn is excited about our new software charting program the art of timing the trade charts in collaboration with tom o'brien and using his 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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 this segment is brought to you by think or swim for more information just click the think or swim banner on the front page of tfnn.com i vote yes so um xop is the sb order gas exploration you can see from this p it's kind of stuck in the middle of the range it's got a big rectangle formation that's the monthly chart right here i usually just grab the outer limits and i'll show you there's the there's the rectangle if it starts to make higher highs and higher lows you can get to just on just under or just above the previous high major high that is that's the high of june of 2022 at 170.62 i'm gonna right type that in because i'll be asked that again 170.62 and it's then it's forming a cup formation it hasn't done it yet needs a little bit high needs to go to a leg c then the weekly charts with the w formation those w formations are really good but they also tell you that this issue is stuck in a range you can go to the upper range and you've got to be careful it comes down maybe to the middle of the of the range again and it's a peak c in the data chart so this is acting very well this is s and p oil and gas exploration fund so in that particular uh regard yes s lb was a question i had on friday look at this 51.09 up 67 again today uh a nice move so this is ab this is a leg c uh and and what's happened is this has gone from the 33s to 51 uh since the end of september a really quick move in this of this magnitude and i like this very much as slumberge and it's gone above the left side high a peak f top that was made way back in june or may june i think yeah june the week of the 10th 49.83 as a little bit of a pullback goes down to 30.65 oh man and now it's back again in fact it's above and it's a leg f in the monthly chart so these oil the this uh let me just see did i ever type that in i must have done this i couldn't even tell you uh in over 30 years or so how many times i've done the notation for slumberge oh it's even more um anyway it's at 51 monthly chart just making very nice uh single legs to the upside and the pulls back and the single leg to the upside and pulls back e and then outside three months actually of consolidation and it's in a leg f it's either a brand new b or an old f but it's acting very well slumberge slb is a symbol now next question came in and that was i just always had a twitter twitter that is in uh tagging youtube yeah that's a double topish pattern and it says that twitter what did you say twitter uh there it is okay twitter 51.35 plus 2.87 sales supposed to close friday at 54 okay what do you know what the number is meantime back at the ranch i'll just call this an f it should go higher because 54 is the number so it should go tad high maybe there's an alternate count i've got it as an f but it could be an f slash c upper f slash c one okay and the weekly chart this is a this is b pulls back and now is another one a b c so this is already a c and we'll see what happens there so twitter is there's nothing to talk about it's you know if it's about to be bored it's about to be bored then uh let's see yeah i just want to look at the fix index remember the fix index i was saying if i type that oh oh s and p you're just about to tease me right oh oh don't do that don't do that okay fix index right now yeah look at the monthly the weekly chart it's underneath the channel wave inside track repellent zone the uh there's an arch formation in the daily i'm watching it closely because yes at any point it could it's it's holding very well up in the 30 range 30.51 but i think that uh if this market continues with the kind of strength select strength but strength nevertheless that i'm looking at after all look at the slx and see what the slx is doing today yes yeah made a peak seed right at the 200 uh this is the as the van egg vector still etf nice that it's running it's not great but it's running and it's gone from the 46th area to uh 54th the 200 p removing average little pullback today that's all very important uh so that to me is a good sign and okay here i am i'm going to look at i'm closing my eyes i'm just hitting the keys open the eyes oh shop is down all right 28.05 is down $1.70 yeah there's one that we we had finally we waited and waited and waited and we got it we got stopped out and then it had a spectacular bounce on thursday and we're actually quite well on friday with chaff we've uh roman candle today it took out i i think i spoke about this on friday didn't i remember this well well you know i was looking at it but i i think yes i think i said if it closes at any point on the in the next session if it holds under 28 i think i said 28.60 you know i was looking at it or i mentioned it 28.60 is a good chance to retest the low and it did that today went to 27.80 you see that's the reason why for subscribers i said i'm not ready for ARKK there's something wrong in this particular rally i wouldn't say wrong there's something different about this rally in that this time the stocks that are involved in ARK innovations as Kathy Wood it's her uh ETF that she runs there's something wrong this time and then it will play catch up at a certain point but it is really lagging very badly and this telling me how about the selectivity of this particular move so that's the reason why i said we're going to the variation of the QQQ because that also has the S S the semiconductors which acted okay on friday and today they're acting very poorly look this is semiconductors and not a great pattern at all leg B with such a tiny move and the technicals are trying to improve yet they can't do anything as i said this is a very lucky now the dow is back to up to 77 sbs up 16 the dow is up 0.9 percent i've been saying all the time that is the mix AV AV EO AV EO yep remember it's AVO pharmaceuticals there's a takeover offer i think it is i don't i don't how how far the offer is gone or whether it's being accepted or not but look it stays in this range and it can stay in this range for a long time i wish i could remember the stock that i had which just looked exactly like this and it stayed in this range for weeks percentage wise it looks like it's just horizontal looks like it's um it's going nowhere but actually on a percentage basis if you were trading this on a ten minute chart that's something altogether look ten minute chart let's go to AV EO and you'll see nothing yeah but percentage wise 1478 to 1475 yeah i just not even worth it's not doing the job okay it's just waiting and waiting to see if the if there is another offer if there's another offer you'll suddenly see in the gap up and then it'll hold in the net then it'll be in play at this particular point it's a person is asking Dan it's done fantastically with it now i think he's just holding a call position now that i'm AV is be oh it's actually being bought out oh it's done all right so that all right we're off so that's that bta i bta i bta oh i didn't mean to do that there esz 22 this is the p a p b p c p d at the church of removing average in the e-mini that's i just i made a mistake i used that chart so i'm going right now to bta i bta i um yeah this is starting to turn around 1105 up 26 cents up 2.41 percent this is bio excel oh bio excel therapeutics yes this is the kind of pattern that you if you follow it what you need to see the fake night removing average has to cross positive that'll only happen when it gets to about 11 53 i'll be back in a moment does up 253 dazzle champion tiger 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 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50 cents sign up for david's newsletter the technology insider and get an inside look at everything the technology sector has to offer try it risk-free today with our 30 day money back guarantee tfnn educating investors biotech is booming but for how long whether you think the biotech bull has room to run or has run its course trade labu or labd directions daily s and p biotech three times bull and bear etfs visit direction investments 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 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 what's ahead was capital by mistake uh allen i saw you know i have the capitals on all the time because i'm notating chap we've methodology uppercase uh uppercase for the way up another case for the way down uh so the question came in is there another vehicle uh to trade you and g natural gas rather than yes i saw not a vehicle but i saw a stock that just seemed to mirror very well i just i wrote it down somewhere i'll try to find it if i can i'll let you know tomorrow um allen so yeah um so within the question the question that came in was xom and cvx have earnings on uh on oops didn't mean that have earnings on friday so the question is bells on xom and cvx report friday i've had a nice run do you hold the position since your outlook on the xle is very bullish well it's bullish because of all the things that are going on geopolitically uh so this is what i tend to to advise first of all xom oh did i type it in there again sorry sorry the dan i didn't uh you know i don't think i would even want to mess with it but what i will say is this i it could rally a little further this week but just in terms of money management because it's got a dividend you don't want to mess around too much i would just say take a little bit off what if it pulls back before then and then rallies and now you've taken it off and you could have got a much better price well just in terms of money management even if you go to the last two weeks or so going from the 93 to 106 you know 100 10 12 13 percent for a huge big cap stock like that i would just say take a little bit off to make yourself comfortable put it do that in relation to the dividend what is i i'm not sure if i can remember this correctly 4.84 i think it's a very good dividend but i would not at this particular point it's giving you no sign that says get out get out because i'm i'm tumbling down what it is saying is under other conditions the weekly chart is suggesting that it's kind of stretched but even if it pulls back to the 96 93 level that it was at the other day and then whole steady all i'm saying is that 94 pulling back to 90 between 95 and 94 closing below that says the rectangle formation you could go down to the lower range that's the 86 to 82 area but i don't know if you want to mess around with it one of the best stocks in this particular environment so take a little bit off maybe take it into take take it into little pieces take it off now because it's just great it's you know or it's a multi-year high not a multi-decker but a multi-year high and you take a little bit off and if for any reason it has a big spike up you can take another little bit off and you're sitting pretty and then if it comes out on friday and it's just sell the news type thing pulls back six or seven points you've got money that's maybe one part of the two things that you took off you put a little bit back that i would do it very judiciously i would not be emotional about it i'd say money management says x and i want to do that it's got it probably doesn't even have anything to do with sleeping better at night because this is on its way up none on the way down near highs rather than near lows yeah i'd have a different perspective completely if it was else okay next question came in and we're ready to go oh um here we go so someone said i think it was on friday when i was um i saw it after the show um in investors business daily is there anything there that you like well um they've had stocks that they use their techniques for but i've seen a lot of stocks just pull back incredibly and they are in they are in investors business they it doesn't mean they belong to investors the business they this is like whether they're top their 50 stocks or whatever it is that's their rating but what they did show over the weekend a bunch of stocks and i'll do for instance i'd never heard of dv dv is double verify holdings uh digital advertiser it's holding very nicely in this range but it is a stock that was up in the 40 47 area once upon a time in 2021 and it didn't have a little bit of a tumble to the teams and now it's at 28 so i'm looking at stocks like this that have had a tremendous pullback or in digital advertising in an area that could improve at some point but all i'm saying is that i'm looking at them and i'm saying this is tough then there were then there was a question about where did i write that snow so this is snowflake ink global data platform i had a higher round number 429 back in december 2020 pullback to about 190 and then screens back up to 400 for the u shape pattern with terrible technicals and then all of a sudden it plunges down to 110 uh back in june of 2022 so now it's rallying but it's making so far it's making lower highs and lower lows so this is something i'm monitoring because it's in the global data platform they were fantastic stocks at one point the whole bunch another one was d-dog this is also data now this one um has sort of flattened out it doesn't have that balance and it's got a left side right side price time matches two weeks after that without breaking it in time in price but in time it's it has done that from the load was made back in april or may of 2021 at about the 60 i'll give you the price right here it was may of uh maybe the week of the seventh 2021 a low of 69 73 screams up to 200 actually 199.68 in november peak f and then it comes down the chaplain wave it was a left side right side price time match but then it didn't come down enough so i extended it out and that's extended to last week and yet the low of three weeks ago was one of 75 54 very close when you consider everything that's going on but it still doesn't seem ready and that's exactly what we saw in the the qqq today another one was uh that was oh cfl t now this is a this is a little bit different cfl t this is uh confluent inc event streaming data platform it's at least going sideways so it's trying to find a base if the tech look the mac these improving the nine is still under the 14 and it doesn't show any sign yet of crossing positive stochastics a little better than it was back in june but not much it's it's from the same arch pattern that you've got right here but it's something i'm following uh event streaming data platform another one was mdb which i'd never heard of before uh this i didn't do it all the way because um i just want to be the monthly this is mongo db uh inc man also management document oriented info store retrieve information so all data uh data uh platform and it's got the a pattern eiffel tower straight up straight down from the 590 round number high when these things make round number highs you've got to be very aware that that's something to talk about that in a moment tesla and look at this it's come all the so these are just not ready for prime time no they're not even ready for uh anything just yet but keep them in mind because when this market adventures starts to turn that data management the ones that have held the best should start to lead uh tesla i'll do that right as we're going to the break test that around number 202 the other day is trading at 201.85 to get out i'll be back are you grinding in the market but seeing little to no return or are you a successful trader simply looking to make your job a little easier learn to take the path of least resistance with david white's powerful trading newsletter david white is an accomplished trader whose deep understanding of technology and the markets allows him to consistently find and share winning trades support and resistance define the ranges in which stocks trade by understanding these trading ranges david white is able to find a path of least resistance david white's trading newsletter the 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before but the nine period moving average was still very strong now the nine period moving average in the weekly is just starting to weaken but this technically just on a performance basis chart wise is a much better pattern than the ones that we were talking about before like the d dogs etc so that's that and it'll have a strong existence in the 68 69 area a question came in no statement quib haven't looked at quib for a long time used to have it all notated probably naked chart right now yep naked chart and it's gapped down huge this is uh the uh cringe crane shares csi china something other china internet isn't this the internet i'm pretty sure it's the internet sector yes the internet china internet etf wow 17.92 just beginning of september it was in the 31s almost cut in half yeah this is this is this is this is gonna drag down our sectors as well so let's just do this we'll look at the vixi index and say that the vixi index is ready a little bit it's up 75 cents at 30.45 if by the end of the day and it's gonna take quite a little bit to do if the qqq starts to improve and it's trading right now at 274 68 if it's able to today's high is 277 27 it was able to get to 275 18 by 130 this afternoon i think it actually can rally a little bit more but not if the qqq start to break under 270 74 support and the fixed index must also be sliding so this is a day of digestion