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. Hi everyone, Basil Chapman. This is the Tiger Technicians Hour and we're looking at the Dow down 230,326 after making a 600-something point move on the upside. Yesterday you can understand some give back. I had a Chapman wave, a very low Tringage reading yesterday, which suggested, which I popped into the den just before the close to say, the Chapman wave Tringage suggests there'll be some weakness in the Dow early in the morning. Some weakness? That was our whopper of a turnaround. If you look at the YM, which is the Dow futures, look at this. That huge green candle, two beautiful green candles yesterday and the day before. And then what do we get? We get a whopper of a pullback. I mean, 30,000 in the futures, 30,003 almost breaks 30,000 again. But look at the nice comeback here. Well, the day is young. We're not even an hour into the trading day. We've got a potential Chapman wave. Roman candle here. It's really simple. In the next two days, between today and tomorrow, if there is even a touch of the 30,641 pink nine period exponential moving average, then there's a chance that we're going to break just above the 30,646 high of yesterday. And if it's today, it continues leg A, gray leg A, because I call it gray because we haven't got any buy signal or anything yet. This is just a start of an attempt to the turnaround. I like everything that's going on right now, even like the pullback this morning. And now what we're looking at is within the YM futures, I'll just get out of that for a moment because we really have to deal with the cash index because the cash index is going on a daily basis. That's kind of the tell that I'm looking for all the time. So on the cash basis, that's a long way to go. We're at 30,357 right now and we have to climb all. It looks different on the YM. This is really, this is to me a much cleaner picture. It says the high of yesterday of 30,653.98. We need to pierce that and preferably close above it because you have to get to 30,758. You see how high it is? See how these slightly nuances in the different indices, to me it's all very important. The fact that we had a doji low, we actually did get stopped out. We had profits in our diamonds. We got right back in early this morning. That's even lower than we got in initially, which was a couple of days ago. So we are long the diamonds and we're looking at the chance. And all you can do is you talk probability. You know, we always talking about probability. The one who talks about probability, probably the most out of all of us here, the host at TFNN is Larry Perzevento. It's kind of his mantra. It's not what you can make. It's what you can afford to lose. These are all really important things. And of course, actually we all talk about it, but Larry really emphasizes it a lot. And what I want to point out here was the MACD, yes, the histogram, these little vertical lines of the data chart, they're starting to improve. This is the first time we've actually seen an improvement with the price, even on sudden spikes to the upside before it didn't do all that much. This is important. It's also important that the stochastic has gone off to single digits. This is now 12%. That's kind of pathetic at this particular point with the move that we've had from 29,653, almost 2,000 points higher, sorry, 2,000, 1,000, 30,653, 1,000 points higher, you would anticipate that the stochastic would be at about 15 to 17%, not 12%. And the on-balance volume did make a V-shape turnaround. That's important. So within that context, this is just an attempt at a rally. When you think of all these huge red bars, what needs to go right here? Well, let's just go through one at a time. What needs to go right is that early next week, I'm giving it all of this week, which is today, Wednesday, Thursday, and Friday, and next week, Monday and Tuesday. Going into probably Tuesday of next week, I want to see trading in the touching the 31,000 level. That'll get us towards the 14-period exponential moving average. It'll take ages and a lot of price moving to the upside for the pink 9-period moving average in the daily chart to actually cross positive. So I'm not even talking about that. I'm just going one step at a time. If you look at the weekly chart, it's just the two horrible weeks of going smashing to the downside from 33,230 to the low of 29,653. It's going to take a lot of work. Well, what is that work? I'll talk about that in a moment, because look, the QQQ came back nicely. It's up 26 cents right now, at 281.30. It's much closer to touching the pink 9-period moving average again, which is at 283.16, and either extending leg A or perhaps by tomorrow, the next day, starting a leg B. This time, you've got the magnitude doing really well. You're looking at the stochastic at 16%, not good at all. The on balance volume is doing well. This little gray line right here, that's the relative strength index. I'd say it's at about 44% right now. If you're looking at the picture of the weekly chart, wow, a lot of work needs to be done. Let's go on. We're looking at the IWM, the Russell 2000, coming off the low at minus 83.167.31. These small caps haven't already done very much at all. They kind of stuck in limbo. Now, before we go on, I wanted to show you something here in the E-mini. So what I drew earlier on this morning, and what I was trading, if you look at this potential cup formation after an arch formation when you plunge from, so yesterday, towards the close, I just popped into the dent set that we've got a peak. What was it? We had a peak in the one minute chart that said we should pull back, but it was leg C in the 10 minute E-mini chart, S&P. Well, that had an alternate count. GSASC and then the C1C2 here, people who don't understand Chatham Wave will understand that that signifies that there's a potential top there. And of course, we've plunged from the 3780s down to the low this morning of 3693. I mean, these 100 point moves are just incredible.  I just did a Fibonacci expansion. These days, I'm keeping it there. Some people seem to really like to see that to me gets a little messy because once I know the numbers, that's fine. That wasn't the number. The number is 3765-25. This high that was made right here at 10 minutes past 10 last night was, yes, last night, that high is really my target. And that target should be hit within the next, the wave count says it should be hit within the next two bars. That's within 20 minutes. Oh, the high just made is 37. Good grief. Look at the speed. I love what I'm seeing here. This is leg C. We just hit 376675. We already hit that. So that was the target that I had in leg C. And this is the buy mode and it should go to at least a deep, deep, higher high. And that would take us to the high that was made yesterday just before the close of 37875. And that should be done. So lovely action that you're looking at right now. I'll get back to the whatever. Time of booming inflation. We are purchasing powers eroded. There's no better place to protect your partner in money than in gold. This the gold flagship asset is the Monk Todd Gold project in Northern Territory of Australia. This is Australia's largest undeveloped gold project. We are talking a world class gold project in a tier one mining district. This is a large scale, low cost project with significant existing infrastructure in a politically safe and friendly mining jurisdiction. This the goal just completed the Monk Todd feasibility study, which resulted in a 7 million ounce gold reserve in a 16 year mine life. All of this combined with the approvals of all major operational as well as environmental permits. This distinguishes Mount Todd as an attractive, diverse party, ready development stage gold project. This the gold trades on the New York Stock Exchange under the symbol VGZ. Are you looking for a way to consistently add winning trades to your portfolio? Tom O'Brien is here to help. Tom O'Brien has been successfully trading markets for over 30 years. A frequent contributor to TD Ameritrade Network and CNBC. Tom O'Brien founded TFNN over 20 years ago to help educate investors just like you. Tom's daily market newsletter, Market Insights is published every morning when the markets open to give you the competitive informational edge you need to succeed. These newsletters are packed full of Tom's advanced technical analysis and are geared to deliver comprehensive strategies for a successful portfolio. Get Tom O'Brien's newsletter, Market Insights today and try all of our products and newsletters 30 days risk free with our money back guarantee at 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. 7 6 1 8 target that we had was 27 83.75. And right now, many in late see in the daily chart answering the HR in the 10 minute chart just is at 377675. This is really somebody saying something obviously in the Fed. That's really not the issue. The issue that I wanted to talk about was and I'll do this quickly so that I don't forget question is, could I look at Queb, KWB, Crenshare, CSI, China, Internet, ETF. Remember, I, I have a problem in that it's hard enough working through the American stocks. I don't know if I want to go to China. So all I do ask me the question, I give you the answer and the answer is, whoops, and the answer is like this. And the answer is we're looking at the Chapman Wave pattern that we always look at, which is right here, right here. Where am I going to get that? There it is. So this particular pattern, where the lowercase h forms. I have three patterns straight up straight down, cup formation, arch formation, and you can mix one and two and one and three. This is one and three, where it's red straight line down. There's peak D, the fourth highest peak in the Chapman Wave, where you've got to be careful. There's up 13 right now after being down 300 something earlier on. It's a piece of eight. That's great. And now what we're looking at is you come down sharply and then you make an arch formation and at a peak A or B, it starts to turn down. Well, this is showing signs of weakness, but it isn't failing. So I'm going to suggest that China, internet ETF is going to be helped by what we're doing right now. Look at this. Tao's down up to up 28 right now. Love the action. And I'm going to say start a position right here at 31 53. I don't think from what I'm looking at here because the MACD is good. Stochastic is not so good at 57% on balance volume is good. Price is holding pretty well, but I'm going to suggest 31 50. At this point, I would, if you are already longing, I think you might already be long. But if this is your first entry, I would just nibble right here. I would add to the position. If it goes one penny above peak B, and that's, well, if it's today, then it'll extend peak B. But if it goes one penny above 32.20 32 74 KWB is assembled down 97 cents, 31 47. If it's able to go one penny above the so you're nibbled here, you can add another very small position. Or just let's talk about it tomorrow. I'll be doing my show tomorrow, eight o'clock to nine o'clock. I have a meeting a little later on. So I have to change the time. It'll be recorded and played again 11. So this is really important because if it closes, if it if it slides under 30.81 today or tomorrow, that says just be careful that dreaded H pattern means there's going to be all the way down and probably test a 50 period moving average or even lower. Take out the left side of the 13th test the dreaded H where it keeps going down. I think in fact the weekly chart is saying the technicals are strong enough that it's kind of holding here. I don't know how much further it can go on the upside just at the moment until I see it break sharply first 32 90 and then close above the high that was made at pd on the 8th of June of 34 12. The moment it does that that says it's broken out of all the rectangle formation resistance levels in the weekly chart and it can actually have a nice a move. So that's what I'm suggesting. It's not my favorite. I'd be if you want to be playing the Chinese Internet ETF. I think there are comparable American tech stocks that could do it for you. Questions just came in. Let me just see if I missed anything else because I want you to talk about why I was very positive. The day's young. I mean we could reverse back down. So you've seen these yo-yo moves over and over and over again. But I do like the fact that on a purely technical basis. It's kind of done exactly what we wanted. The cell of last night was it really was something very different. And yeah. So that's the way I'm looking at it right now. So a couple of questions came in. Could I look at. Yeah. Look. Hey Paul I don't like these statements about I got a failed system and I've I mean you're asking enough advice. Why why do you do that. I've not got I've got no fail system. I can assure you that. A lot of people know that we've picked almost every single bottom of importance and we've talked about the top we haven't always actually played the tops the way we should have. We certainly picked them. So I don't know what you're talking about. And also as far as the the statement about where is it about margin debt. I've talked about margin debt before you were born. OK. So just don't give me that. The margin debt is really important to say that I don't think it's important. I think it is really important. But it's important when it becomes important. And right now it's more background than foreground. It'll become foreground at some point. So I'm getting I'm done with you. It's nonsense. So let's get back to our story here crude oil crude oil is down sharp is down six and one or three point forty one. I've been talking about for two weeks. I've been saying I begin. I'm almost sure I can't. I'm a little nervous about playing the SCO only because it trades over if it if you can't play it overnight. That's where you can get trapped. So the SCO is three times two or three times short. I think it's three times short. The crude oil. But that's what I discussed. And I said this is probably the time to be playing it. Why because crude oil looks to me like it's making a top that is at first. It's going to be just a short term and near term to short term top. But if it gets stuck in this rectangle formation it can last a lot longer than one anticipates even if it doesn't break down into the eighty five area. Well right now it's at one hundred and three went to one hundred and two hundred and one this morning. One hundred and one point fifty three in the continuous contract. I went through all all of these XLE I went through in great detail the other day down to a seventy four. This is the S&P Select Energy Spider Fund. I went through Exxon Mobile down to today. I went through CVX Chevron. I went through Slumberger SLB. All of them were giving tops that said to me if we get a pullback in the crude oil sector to do with inflation and if the DBA the Agricultural Fund which was still long starts to pull back like I think in this rectangle formation maybe even taking taking out the low. I mean we've been long since thirteen seventy seven and it hit the twenty twenty two twenty three area and it's just stuck. If these commodities start to pull back doesn't allow the stock market to breathe. Absolutely it does. So within that context and what Pat says at 12.55 we've got Feds Evans speech 1 p.m. we've got yeah we've got 20 year bond auction. We've got Feds Marcus. You know they're going to try to put a decent face on this. What are they saying. Well whatever it is the fact that we are looking at a decent rally after the attempt to crash last night is really important. I love this action even if it's just short term because of seventy three S. and P.S. of eighteen thousand chapter right back. 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. News subscribers get a 30 day money back guarantee so you have nothing to lose. Every Monday morning I published the gold report with coverage of gold silver bonds the X. A. U. H. U. I. G. D. X. 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 T. F. N. N. dot com. Don't miss out on the next great gold trade sign up today. T. F. N. N. has just launched their new trading room the Tigers and hosted at discord T. F. N. N. has been educating traders for more than 20 years with live programming hosted by a variety of professional traders during market hours and now they are expanding their reach with the Tigers day available to all Tigers and Tigris's for just one dollar for the year. There's no catch or added costs when you join our community of traders in the Tigers then you can look over the shoulders of Tom O'Brien and the other T. F. N. N. hosts while they analyze charts during their live Tiger TV programs and join an interactive trading community with hundreds of members exchanging ideas interact with other Tigers and Tigris's as they share trading ideas news analysis and discuss the market action all trading day even at night and on the weekends the Tigers Dan at discord is accessible on mobile or tablets as well so it's always at your reach to sign up today and become a part of this educational community of traders just visit the front page of T. F. N. N. dot com T. F. N. N. is excited about our new software charting program the art of timing the trade charts in collaboration with Tom O'Brien and using his best selling book the art of timing the trade your ultimate trading mastery system David White has programmed an outstanding piece of software that will complement any traders methodology using this first of its kind program the art of timing the trade charts allows you to scan thousands of stocks for Fibonacci formation setups including Gartleys ABC's Butterflies and much more the art of timing the trade charts is designed to help you when scouring the markets for stocks just beginning to form the trading patterns that many investors spend days weeks or even months searching to find and right now we're offering licenses available at only seventy nine dollars a month we are so confident that you're gonna love this new charting software that will even give you a thirty day unconditional money back guarantee don't miss out on this incredible new piece of software get your copy of the art of timing the trade charts today by visiting tfnn.com 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've also just got there the E-mini Leg C it hit uh thirty seven uh definitely a ground number in Leg C it hasn't made it peak yet MacD Strong's to cast his good water lovely move just as strong was a straight up move and the Fibonacci I love 300% but that's not I don't believe that's a Fibonacci number I'm not even sure how I ever got that I think I kind of made it up that I'd seen 300% hit so often as an expansion that in the in the Fib I just added it to this I don't I've checked the I don't see a 300% anyway that's the one that I like the best so we've made up something else like I've made up the tab we've shouldn't gauge from Richard Ohm's shortum trading index maybe there's another one here for the 3% 300 percenter alright let's get on with our story and what we want to look at was if crude oil pulls back if the commodities pull back what's our greatest concern right now crude oil and inflation via those commodity rises okay yeah thank you thank you A to B in the den I maybe it wasn't a VO a VO it was really close and the only reason why I mentioned this right now is that the coincidence was amazing anyway I'll find out from it tonight anyway so we're looking at the stock in the den a VO was mentioned pharmaceuticals usually spoke about it yesterday I said it stuck at the 200-period moving average it's pulling back and now what it's doing is it's had another extension to the upside and this is very good action 534 today a VO is trading a 625 out 44 cents right now it is in leg E in the dating but remember I spoke about it looks like a kidney it doesn't look like a kidney you got your left side kidney and you got your right side kidney I love making up these different terms for these patterns and it's like a heart upside down and what we're looking at is it's true I'm not sure if this is the move that's going to take it above the high that was made on the eighth of week of the eighth of April at 619 because the stochastic is really weak and before when it had that big round look how beautifully the stochastic move so the stochastic at 39 if even in two three days time it's had a little bit of a pullback and it's struggling a little bit but it hasn't broken yesterday's closing price was 480 so if we can hold between 486 and 472 in the next two days and trip preferably have one pop to try to touch 550 I think that'll really help the weekly stochastic the dating stochastic even is is lagging it's 66% so just keep that in mind a couple of things I want to look at here is the TBT made a peak you remember the chapter wave methodology peak D's the fourth highest peak there's got nothing to do with a to B equal C to D it can but it really has nothing to do with it it's a different relationship all together this is higher counting the higher peaks I'll just do this real quickly because they were always having new people coming into TFNM if I can just find this right there there it is so yes the other thing that I want you to show and that is in the chapter in methodology we try to identify the lowest low bar the wave count on the downside is important but it's not nearly it's important for other information but it's not nearly as important as the wave count with the uppercase letters ABCDEFG to the upside because the fourth highest peak is your target going from a buy signal to a buy mode with the intention of seeing at least a peak D and then other things can happen so D is the is the objective it's the culmination of the objective of a buy signal going to a buy mode the moment I see an up error and I say buy mode it says there should be at least four higher peaks then other things can happen well look at this in the TBT this is the inverse of bonds this is the inverse of the TLT the ultra short Lehman 20th Treasury Bond ETF we made a peak deal right there the fourth highest peak on the 9th of May at 2778 pullback pretty sharply to the 24th screened up to 29.56 that was on the June the 16th and that was a peak D and look how sharp we've pulled back so finally we're getting the yields with yes the TNX finally beginning the yields peak D there as well in the dating pulling back down a dollar 58 31.49 3.149% leg F in the weekly chart monthly chart is still only a leg C like the dollar it's a leg C and it should go higher over the over 2022 this year but what we are looking at is finally beginning a pullback as the TLT goes to a leg B and it made a peak D as well back around about the 23rd 24th of May and pulled back very sharply from the 119s down to the 107s and now it's at 112.77 in a trough F possible trough F in the weekly chart I drawn this and I showed the left side right side price time match that I this in this case I just said it's a time match identified a time sequence and it said that by the 3rd week of the 13th of May we should be making some kind of a low which we did then we balance and then we made a lower low so that says you've got an extension to downside if the MACD histogram can continue improving and the stochastic 11% can get to 12 not 14 to 17% you'll see a really nice move in the TLT maybe it just goes to 116 the 9th period moving average or you can maybe even go to 119 and then probably we start to see it turn down and we start our next move up in the yields maybe that's the case we'll see what happens okay now let's go to so I did that I did bonds and did kudos I did that I did that I must see oh question about platinum yeah so the question with platinum is I think it goes in the same category as the the rarer commodities so platinum is just digesting huge gains it's made this huge Eiffel tower straight up straight down pattern stuck at 930 and until it starts to trade on a weekly basis with a close above 965 and it's at 930 right now I have to consider it's the sideways if you're looking at gold gold is having a nice move up today up seven in 1845 but if you look at this arch formation we're only until I drew this into the second arch and that could be smaller because it goes to the resistance at 1866 68 and 66 and that's going to be very important a close above 1873 now 1875 a close above 1875 said you know what finally we could have a bigger move in gold to the upside otherwise it's just stuck in a range now talk about a range how about this this is the e-mini look at this I haven't even had a chance to do the daily chart this is still legs see remember I spoke about the 300% one of my favorite and numbers in an expansion it's I use it as the Fibonacci expansion just can someone in the den just tell me I've looked it up and all that I I don't think there's any official I don't think there's no official 50% 50% is just a natural halfway marker so I yeah the Fibonacci numbers these are not Fibonacci numbers so I'm not sure where this fits in but my 300 percenter says that it just touched it as we speaking at 3795 now one of the things I've been trying to do for quite some time for maybe almost a year is trying to identify in the futures when there's a chance that you could have one trade that you can try to buy the tip in early morning and then just do nothing but hold it all the way through until either three three three ten in the afternoon or the very close and or it could be the exact opposite where it's a short I'm getting closer to being able to do that just once or twice I've done it myself are you in the market for buying or selling real estate in the Bay Area including the surrounding St. Petersburg Tampa and Clearwater markets Tiger real estate LLC is a firm that has extensive experience in the Tampa Bay Area whether you're looking to sell your current property for maximum value or you're in the market for a second home or investment property Tiger realty has the experience across all areas of real estate in the Tampa Bay Area to help buyers and sellers make the most informed decisions across all price levels from the price you should be paying per square foot in certain up and coming areas to the type of cash flow investment properties are capable of creating tiger real estate can help you make the best decision when it comes to all areas of the market before you make one of the biggest decisions of your financial future call Tiger real estate LLC today at<PHONE_NUMBER> or email us at tiger at tfnn.com that's<PHONE_NUMBER> call us today the technology around us is changing every day with so much happening it can seem impossible to keep up with all the information David White's investment newsletter the technology insider is designed to give you all the information you need to understand the technology that shapes today's markets and tomorrow's future David White has made his living staying on the cutting edge of technology his weekly newsletter will give you specific recommendations for value tech stocks as well as entry prices target prices and stops to set for each trade Dave delivers his weekly newsletters every Friday with updates throughout the week you can get the technology insider at tfnn.com for only $37 and 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<PHONE_NUMBER> 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 foresight fund services LLC this program is brought to you by vista gold traded on the nyse american and tsx under the symbol vgz question about pfix before i even look at see what it is i'm just in the template notation a see uh and daily just a single leg a up wow what is this this is called i can read it interest rate hedge oh interest rate hedge huh so um the daily the weekly chart has gone to peak a i think a lot of people will not want to know about this so this is something i don't think i've ever seen before maybe i have but i just didn't ring about and what's the uh stitch fix stitch fix that's one i do know sfix but this pfix i don't know the trading at 61.15 right now so all i can say is i normally this is a peak c have i missed anything no pk peak b peak c i'm anticipating that there should be a d um but whenever i do this it's incumbent upon me to always open up the chart as go back to see the lowest load because if you count it correctly there's a chance that you might have had an alternate count before and no in this particular instance i'm quite satisfied that this has to be called the c but it has got the double top aspect to it maybe there's an alternative count that was a g slash c and this could be a d i don't want to take the time right now to do it because that's not the question the question really is what are we looking at and if i do a vertical analysis uh from looking at the technicals where they were say on the ninth of uh or the i think it was a ninth of may and where they were at the most recent high peak c and you you can see that um the magd is still expanding the stochastic went way above 80 percent and now it's under 66 percent and when we were at the previous level the stochastic was starting to fail and the magd was not too great so this one says look at the nine period exponential moving average because that's your clue and the nine period says well i'm way above the 14 i'm still looking good so all i'm going to say is you didn't ask me anything other than to say um possible to take a look oh no that was a look at apple as a kuta i'll look at that in a moment i haven't covered it yet uh why am i missing this uh is this a chance a new a on a video who i haven't done oh there's a lot of questions coming up and now i can't code i can't see your your second question oh just pfix so i'm just going to do this because it's a hedge and my bias on the very short term is to say that crude oil uh commodities and possibly rates are pulling back and that's going to help the market system give the market a breather which it needs desperately i'm going to say just as a hedge right now at 61.15 probably if you're already in it i wouldn't do very much if you're not in it i would just start a position yet 61.15 knowing that it could go three and a half to four points higher to make a leg d and knowing that if it breaks underneath closes underneath 57 four points down it could go even lower so i'm not sure that even that's a hedge here you're putting yourself in a position where you could lose so i'm inclined right now just to be looking at the tbt um and saying well the tbt still could have a little bit of room to go down and the tlt could have a little bit of room to go up i'd rather be looking at those instruments i don't think right now you if you're talking about a hedge is a hedge because you think rates are going to go much higher that's my thinking could be wrong about that so let me just make it real clear at 61.15 why don't you do this start just like a like a just a tiny little position because by friday at three o'clock before the close on friday if it's moved up sharply or down sharply it's going to give you a real good clue as to where it's going in the shorter term right now it's kind of stuck so i'm not i don't think i'm helping you at all but in chart patterns i would automatically just grab this and i'd put it in a rectangle right here and i say it's stuck in a rectangle formation i think it's gone a little too high to make the dreaded h pattern i think it might just sneak a little bit higher to make that leg d and then maybe it pulls back so that's kind of my thinking right now i hope that helps you next question was apple um apple well an apple a day um you know apples in that range that i'm talking about the same as amazon etc the really great companies are taking a breather and they deserve a breather and this is the period where they might have balances to help the market but i don't think for instance if you had to ask me right now would you go along apple as a longer term position i'd say i'd rather stare step into apple if you want to go long longer term be prepared that i think it it i well i could be so wrong about this is trading at 136 but i think 115 to 100 is kind of my longer term outlook for apple but the very big picture says that the 182.94 high that was made i think it's going to be tested sometime in 2022 so i try to put that to a very short term Q it is a balance it's helping the doubt it's helping other things up 95 cents to 136.82 i don't think if you are long in a very long term position and you long for way down of course it's i'm saying i would do nothing but uh if anything on the next bounce towards if it can get to the 142.44 area for insurance purposes i would probably say i'd buy 130 put and i'd go out a couple of months i go to maybe august or i would take some money off but right now as a longer term position i think apple is still a fantastic company i just think it's still overboard it's in that sector that says to me had huge run run-ups to into the november december january time frame many of these stocks and now that you know really well-deserved digestive phase that's all i can say next question came about here as uh is this a double bottom in tesla tesla is yeah so 620.57 was the low back in around about the 23rd of may it bounces up and it's got this chapme falling exformation it's a dreaded age of success one so far because the last series of lows didn't take out 620 but i suspect that i'm going to draw this in for tesla i think tesla is under a lot of pressure and i wouldn't be surprised if it's stuck in a range and that range says that at some point it's going to break 600 and then i'll start looking at tesla as a potential buy longer term that's the way i'm looking at you didn't ask me but you did ask me is it a double bottom so at the very near term look the same same as apple nice two days but it hasn't taken out the left side high that's important as a trade if you're trading tesla i think with the general market if it can move the market can move up into early next week and then we'll have to reassess tesla should move up as well i don't think the 200 period exponential moving average in the daily chart of tesla at 646 i'm sorry 846 yes i know paul i also still love you but i'm still going to give it to you like you like to give it to me we've got 846 i just don't think that's the case right now i'll be very pleased to see it break 792 the high of the second of june break it and hold that and the 250 period exponential moving average at 776 is really it's big that's the bug bit that that's what it has to across in the shorter term so on a shorter basis i think six eight years is really good support but at the same time it is moving up mac these goods the classics okay um the 930 doesn't cross positive it does cross positive then i think you can get to the 780 it's a 750 belzer chapter does a tiny place supply of your 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 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 in 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 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 247 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 247 newsletter today tfnn.com 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 in this last segment let me just do this and remember tomorrow i'm doing my show eight o'clock to nine o'clock it'll be repeated of course replayed again at ten so trow is t-roll price actively managed funds and programs what a what a decline this took a double top back in the 230 oops 224.56 so let's call the 224 area back in august with the retest just four months later and had a little bit of a decline down to the 104.72 level and that's actively managed funds so this pattern here so the question is is this any help yes it is a help it's a help to say that from the arch formation that horrible dreaded h that hasn't yet given a buy signal or a buy and it definitely not a buy mode this is just the start of something i've got fibonacci expansions etc went to the 110 level went under it and then now trying to get back above at 102 110.62 i like to put this in the category of iai which is the broker and dealer etf security etf you see it's got almost the same pattern had a whopper of a decline from the 116s down to 80 this is just these these are huge declines and Schwab Charles Schwab same thing this has got a peak b is struggling so all i can say is that until and the semiconductors look they're all at the same pattern and these have been the weakest links and they are the clues for me to the bigger moves and they're saying the big big movies just it's not the market's not ready for that which is what i told subscribers we've got to still keep a large cash position but we have put money to work um question came up e-mail what about what about your um what about ARKK that you've got very often and like i say ARKK at 41.50 which is very nicely we're all long and uh it's just a generic play that i'm trying to play different picture stocks that i do like but i think those subscribers that you see you