The following is a presentation of TFNN. The Tiger Technician Hour with your host, Basil Chapman. Call now toll free at 1-877-927-6648 internationally at<PHONE_NUMBER>. Now, Basil Chapman. Hi everyone, Basil Chapman, Tiger Technicians Hour. My pleasure to be here Monday through Friday at noon till 1 p.m. Eastern time<PHONE_NUMBER>. Number to call in. Let me just quickly show, because it's technical Friday, let me just show some of the technicals here based on the e-mini, two-minute chart. Look, there's your peak. This is a very interesting one. Let me just see if I can open it up even more. Here we go. Yes. So it made a peak D in the two-minute chart in the Chapwave methodology. I meant to do that, and I forgot to actually put up my chart. I'll try to do that during the break. We're always looking for the lowest, most identifiable low bar and merely count each successively higher peak, labeling them alphabetically. Up a case, A, B, C, D, E, F, G on the way up, and lower case on the way down. At the fourth highest peak peak D, other things can happen. You can see what happened here. Went to a peak D. Let me show you what happened. Let me move this to the right a little bit. So you got your peak from the low that was made this morning at 8 o'clock. Well, about 8. It wasn't 8.30. It was 8.04. In the 20 area, it ran up to a peak A, pullback, peak B, pullback C and D. It goes to a D. And at 9.10 this morning, a decent time at 29.30 to 2.75, it gives a signal where the stochastic turns down sharply. The mag D is starting to move down. And all of a sudden, everything crosses negative and the price goes below the 40 and the 9 period moving averages. And it goes to a trough D. That trough D I should have put an up arrow in, made a V-shaped bottom on balance volume. The stochastic turned up and mag D was already turning up. When people talk about laggy indicators, if you know how to use these things exactly right, you can get to the tech, to the low bar, an exact turn. So in this particular case, look at that. Not only did you get a volume spike, you got the turn in the stochastic one bar before, the on balance one bar before, and the mag D won two bars later. That's pretty darn good. It goes to peak A, peak B. I chose to call this a Chapman Wave phantom peak right here because the stochastic, sorry, the on balance volume gave a pullback there and a two parallel high bars and it really looked as if it should be, so to be conservative, I like to be conservative in this whole business. Otherwise, you can immediately give up some gains but you certainly really keep tight stops so you can stay in the business as long as possible. It went to a peak C1 at the 29, 29, 75 level and then it pulled back and then it made this cup formation to have a chance to actually draw it in because I was trading actually the RTY which is the IWM because sometimes I like to practice because the IWM, the Russell 2000 futures trade in a completely different manner very often to the E-mini. I can be looking at one of my many screens, my left screen on the right next to the middle screen and it gives me the E-mini and it gives the DAW futures, gives a lot of information and that's showing real positive activity. I'm looking at the IWM and it's actually going down or the other way around this morning when there was a chance that I managed to pick a level where there was a pullback based on the peak D which worked out and that's very interesting. So here we get a peak C1, cup formation, see the magnus stochastic of pulling back so whatever it comes back off the peak C2 that's a parallel high. I like to cheat that as if it's a peak D. So it's really once again it's an artificial or phantom peak really good technical indicator usually I have a chance I didn't have because I was busy at the time making it a red, so you can't get a down arrow because a down arrow can only apply to a high that reverses from say a D, E or F. In this particular C1, C2 I put a red plus sign and what does it do? It goes right down to the 14 period moving average and then starts a new buy signal based on the stochastic in magn D turning up in the on balance volume goes to peak ABC, goes to a D and right at the D you can see the failing stochastic, magn D and the stochastic failing and boom it starts to pull back not deep it pulls back just a little bit and now it's gone above the green 9 period moving average that's good the magn D is not yet cross positive and stochastic still quite weak so we're going to be watching this very closely if you look at the RTY M19 look at this there it is there was that that was an E there was a peak E right there with the magn D was failing stochastic had a very nice pull back and now it's gone to peak AB F slash C I wasn't too sure because the magn D was still strong was still above the 9 period moving average and I went to a D and then it pulled back alright just thought I'd do that little technical stuff that we wanted to do on Friday now let's talk about gold gold is up 10.3 at the high of the day 12.90 this is nice action let me explain what I've talked about all week I said all week that there was a trend line right here based on the low that was made and the date was the price was different the price the time was exactly right was the week of the 17th of August 11 86.2 that's changed because it's this is the gold continuous contract price always changes never the chart formation and what happened is we started and you move up and it went to peak A in the peak B peak C and then went to an E and just a fantastic left side right side price time match right I say fantastic because it went to number of bars on the left to the number of bars based on not the low that that wouldn't have worked out it was based on a very important candle I always talk about to subscribers and we went right there it was one week late and it went instead of 13.50 it went to a leg E and then a peak at 13.56 point two not bad and then it started to pull back and then I said this trend line with the lows that were made back in August back back in October and then the higher low that was made in March the week of the 16th November the 16th all gave a rising trend line that trend line said the gold better not trade the 12 close under 12 68 because that would be a very big negative and if it did that it would have broken this uptrend line and the MacDee and stochastic wouldn't have improved well they have they have not improved the stochastic has tried to turn around on today's action but it held that school the chaplain wave inside track in this case because at the bottom it's a propellant support line you break that you're in trouble this time it held it and it ran up well it's done that many times before this is what's very important give us some relationship in the gold this move up we've seen this many times before most recent was the low that was made on the 4th of April at 1284.9 the continuous contract has a little inside doji candle the following day and then bomb green green green and screams up all the way to 1314.7 peak A becomes a peak A minus that huge decline so what's different this time I don't really see anything too different I still see a week gold and a week weekly gold daily weekly and a monthly here's the difference I'm just to silver quickly before I tell you what I think the difference is silver is up very nicely this is a leg A gone to a trough ooh C very interesting alright trough C doesn't matter and a B in the monthly chart the difference is that gold's MACD in the weekly chart actually held very nicely gold's stochastic and MACD have been rising and this is really a big positive and I like that I prefer to see gold moving because silver is moving and sometimes leading that's kind of good on the short term I'll be back because we want to talk about currencies and the dollar which is pulling back a little bit today down to an 80 cents I'll be right back that was absolutely great the TAS Profile 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you'll see a new and improved homepage with a much simpler navigation whether you're watching Tiger TV live in high definition or just accessing your newsletter subscriptions we even have new pricing in six months and yearly options check out the new TFNN.com now and experience all the upgrades TFNN.com educating investors we're back and of course during the break I must have done at least three or four different questions and charts and things so where was I let's go back to silver silver in leg A and in the Chapman Wave counter the down so what is Peter saying the debt there's a countless silver daddy is F slash B and then G okay good oh of course it's F slash B and then G I typed that incorrectly F thank you I love this I always have people who know the Chapman Wave very well giving me corrections here because I do these things sometimes on the fly real quickly and it's easy to misaccount your only obligation is to get that count and I missed it so that was an F slash B and now it's a G yeah we got a trough G nice move off the trough G and leg A in the silver and look the mag D is starting to it's already been acting quite well and then it crossed positive and the stochastic has been rallying all the time above 20 percent went to 31 percent as there was a divergence positive divergence technicals improving price moving down this is nice action so let me just go to what I am looking at you because the monthly charges is just the beginning of something it might be a bigger move you never know but the monthly charge suggesting that needs a lot of work yeah this is what I was looking at let me just go back I'm going to go to the dollar to show you that the dollar did that a requisite leg D that we were expecting today still leg D because it went to a higher high 9833 fabulous move from the 88 to the 9833 area for currency this is a big move in currencies look at this it goes from 8825 February of a year ago to today's high of 9833 we've been long over a year I like this very much now as I said I was talking to my Tommy assassin for my purpose everything that we wanted has been worked out to this point in the dollar and I I don't mind I wouldn't mind another breather another U shaped pattern that's fine with me going up is also fine but I'm just saying stochastic said 87% that's very good MacD strong weekly as Justin this is like the silver chart in a way but the MacD and the weekly chart has just crossed positive so if it gives it back very quickly that's not going to be too great but at this point this is a nice sign and stochastic said 82% that's good look at the monthly chart the MacD strong stochastic said 86% I like the dollar I don't just disagree that some people are saying there could be a good rallying in gold there could be many good rallies in gold it depends on how it can hold and that's the most important thing look at the Euro EUR USD Euro dollar currency pair this is very important because let me explain something had a question in the den as to what would constitute a failure pattern why do I always look at DEF or G as to make higher price sell a buy mode buy signal to buy mode why do I say great leg A great leg B when it's under a previous high one of the reasons is I learned a long time ago when I used to hand chart all this stuff that there could be a failure at any point if you've come from a high even if it's just a recovery high just a high very high bar and you pull back very sharply and then you start a little buy mode and look at this in Seoul in the back on the week of the 16th of November the low is 1.121 and then it goes to peak A and it pulls back gives back a chunk but it doesn't break the low then it rallies and goes to a B just above and then it pulls back that I should have done that I just didn't have time I wasn't thinking about it at the moment I always make these great I call them great for a reason one of the reasons is that if you're under a previous top a DPD or something like that but it's really a pretty sharp move to the downside to inaugurate a buy signal that becomes a buy mode meaning I'm going to a blue I'm so confident that I'm going to the fourth put to a fourth higher peak that I can call it a blue buy signal to buy mode it takes a lot and look in this particular case this stochastic didn't even get about 50% when it went to C the magnet look good but the price just didn't hold so I always treat that as a potential failure pattern and I used to call it here in the Tiger technicians I've been doing this for 15 years or something 5 days a week or started for 3 now for 5 for at least 12-13 years maybe more I used to say because this is the terminology I use all the terminology I I I use because it's descriptive and the description was it is in a retracement rally failure mode well that's a lot of words I mean it's very explanatory tells you exactly what it is but it's too many words so I just say gray AB gray AB and my subscribers know that it means it could fail at any point when I eventually see the stochastic trading above 83% something like that nicely above 80% and maybe it's only in a B or a C and the magnet is doing well I'll say buy signal to buy mode it should go to a D I hope that's the clarification that really was the question it was a question about something else let me see if I can even find the stock that it was because NVTA I'm almost sure because it's so close to NV Nvidia is NVTA oh man where did I type that I typed it in the den of course this steak typed it right there it is so yeah here's the exact same it's the opposite exact thing look the cup formation that goes to NVTA trading at 23.52 up 35 cents and Vitia Vitia corporation diagnostic no it's an AE not an EA it's in Vitia in Vitie I don't know how you pronounce it and it's a diagnostic genetics oh man if it's genetics then it's obviously something very complicated in Vitia double top it goes to 2576 on the 21st of March and then it has an insight A, B, C and it just worked out perfectly I called it an E at the time because I was doing it very quickly but I should have said brand new buy signal to buy mode A peak B, peak C and lo and behold that is an E but it was also brand new D so I don't have to put the inverted V shape pattern that is a D with a down error that's the drop bucket pattern I like to talk about where the technicals are fading but it still tries to retest and does retest on the left side high so now it's pulled back but that was an E now it's a D it's a different thing all together if it was an E it would have been a failure pattern which said you've got to be careful because that E wasn't conforming to good technicals it was price moving up by itself so now here's the question I've got to a G slash C in the weekly chart and if I had to squeeze this I don't remember anymore did this make where does it come from I think it comes from the higher high no it doesn't okay that isn't all time high it was made back at that peak D in the daily and it was peak now I've got this as a G slash C I'll explain why in this particular instance the weekly chart on the 21st of September in 1838 made a top very soon it made a little doji candle a failure and then it came down and the MAGD turned down stochastic went from the 92 area broke under 80% so it pulls back and it goes to a trough C and then it starts to brand new what looks like a bi-mode stochastic on-bounds what everything turns up MAGD turns up and it went to a peak A then a B and now I've got this as a G slash C I'm actually going to say why was that because I just extended that but in fact this stochastic said 86% I'm getting rid of the G and that's the way I'm going to notate it for now edit it's in a C and it should go for a D doesn't tell you how long and it's got a lot of room before it can go to the C in Vitea Corporation Diagnostic Genetics I think it's only a B monthly this looks good I'll be back 1984 Bazel Chapman has been using the Chapman wave methodology to advise traders of his expert market opinion while originally hand drawing charts from the late 1970s into the 1980s Bazel noticed that prices under most circumstances virtually always had a certain number of legs to the upside before declining sharply later Bazel found that computer software which included the standard market technical indicators enhanced the degree of accuracy and calling price turns as well as market trend calls thus was born the Chapman wave sequence using the Chapman wave methodology along with other indicators Bazel Chapman advises his subscribers of his expert market opinion each market day with his opening call newsletter right now you can get a two week free trial to the opening call Bazel's daily trading newsletter by visiting the front page of TFNN.com cancel at any time during that trial and pay absolutely nothing get your two week free trial to Bazel's newsletter the opening call today by visiting TFNN.com the path of least resistance is 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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 Hi folks I've got a couple of questions I'll do them in turn Sean McGrale says okay Sean says let's see looking at Tava, January 17th, 2020 22.50 calls January 17th looking at it like a lottery ticket test of 827 August 2070 weekly breakdown 7 between 29 and 32 let's see okay so Tava trading right now 1521 up 0.07 so you can see now what I've done is I've given you the gray leg A goes to a PK and a gray leg B and it is at 2728 so this is leg B right now this is what I'm looking at in the cup formation that could form in the monthly chart if this arch pattern starts to see a really strong move to the upside you could potentially get an arch going to a cup and that cup becomes very positive if at any point it can take out the 25.96 high of August of last year but let's go step by step you are in the position so all you can do now is monitor you can get out of it but you are in the position and you got it in January so you got it and you saw a fabulous rally unless you got a second time round but it did give back quite a lot and it's now got a doji candle from last week with a low of 14.04 first green candle I love this as a potential only when you look back weeks and weeks later you said oh my goodness I missed this doji candle that gave the exact low that's the potential you've got I think we've discussed this at some point anyway so what I'm going to say to you is you've got your position the way I would monitor the position is only if in the next week or two and this isn't healthcare we have telepharmaceuticals what is it called exactly telepharmaceutical industry oh industry telepharmaceutical industries I think is a full name ADR I think it's Ireland I'm not sure so look at this and a really nice action it's worked very hard to go from 14 to the 1522 high taking over a week to do it I like the actions over the magdeen stochastic and everything is good but I don't want to see it go underneath the can or not more than one intraday if it goes under 1466 it's going to close about 1466 if it doesn't I'm going to say to you hey now you've got to watch this real closely that's number one. Number two is I love the action because I can immediately draw a left side right side price time match and I can go from here to here to the low and I can say you've got all of I prefer it didn't a shorter time period but you've got all of next week yes you've got until the 7th of May it's over a week I just moved that so I didn't mean to do it let's try it again. You've got until the third of May oh that's better in which to get a left side right side price time match and that in fact is oh it's underway right now. Look at this in fact it's using it as support not resistance so okay I love the action and I'm going to tell you right now that if Tava Pharmaceuticals closes above the high of the 5th of April above 14.43 and two days after it does it it hasn't tested the 1491 14 period moving average in fact it's it's held nicely it's trying to even move higher the 50 period moving average of 15.97 becomes its focus and I can only do the step by step that's the only way we can do it so congratulations you're in the position if you got into it so you had it before I think you had it before and now you're doing it again let me read that again bring it out like a lottery ticket so you've got the calls January 17, 2020 January 17, 2020 calls I didn't even see that oh I thought this was coming out which you had those and you're looking at something like May or something no January the 17th I think that that's a really clever way to play this you're going to sit through a couple of real big bumps because of the breakdown under the previous low that's 100 over a period of time I like the action right now I'm looking I'm putting it down I'll do some work over the weekend for my subscribers thank you for the heads up I'm just going to look at it I don't know if I want to get into anything pharmaceutical with this election coming up but it is very nice action so far so I've got Teva down we'll see what but I think you're on the right idea looking out this particular confirmation potential says that if it doesn't take out the low of November of 10.85 in the next two months but instead has a really strong attempt to get to the 16s trying to treat the 14s of support I think you're going to be getting out of this a lot quicker so yeah just one step at a time I can't even look we haven't even had this is the first monthly week sorry this is the first weekly candle that is green in quite some time it's only the second one in months so let's just deal with that next question ahead is while you're not leading the show with covering the major indexes on daily weekly monthly basis anymore that's because in the update that I do at noon I do an update and I give kind of good parameters but you know what especially on a Friday I'm going to do that right now let me just do this INDU it's a good question and I'd like to deal with it right now the doubt to me it's going to make all time highs that's the way it's looking right now time wise I've been saying I think there's a bit of a pullback coming here to give us a chance to see do we want to prepare for a move now sooner going into the 26 960s for an all-time high or do I think a pullback towards the 26,200 26,000 level is kind of there as a breather some kind of a step back before it can race I'm always thinking of this one particular very funny story that I had and when I was an athlete in high school I know I haven't had no time to go into it right now but all I'm looking at is I think that we're going to be pulling back a little more I must say I'm kind of impressed the doubts of 26 right now with Intel down sharply a whole bunch of things going on so that's my outlook I believe we will be going to all-time highs just a matter of when and the way the monthly chart is looking it's got a lot of work to improve the MACD so casting is good at 70% but that weekly chart that I'm looking in the middle here with a potential doji leg C right now says hey if there's no new recovery high above 26,695 next week that makes a peak C and we've started some kind of a shorter term consolidation the S&P is a little different S&P came within fractions the spy was within 42 cents is 35 cents of making an all-time high it's holding nicely at up 510 today between 931 if it breaks out above 29 3683 the high of the 24th I don't think the Dow is going to be separated by going down I think it's going to hold steady and maybe we'll have to just jump on board from alongside but I'm thinking here that we are close to some kind of a consolidation the QQQs have already done fantastic work I think they're getting ready for at least a bit of a pullback but let me tell you a break on Monday or Tuesday above 191-22 in the weekly recycles and that becomes a new leg GCSE I wouldn't be surprised to call it a C and that weekly leg C is very strong it's made a new all-time high to put it together with the XLK and the XLK is taking a bit of a breather to peak D I think also the same thing with weekly charts are fantastic for the Qs and the XLK I just think there's a bit of a pullback yet for the tech sector and I'll do the S&P as soon as we return that is really important what happens there and I'll explain what I'm looking at if you're in the CD market and looking for a secure investment the Tiger First mortgage program may work for you the security for these first mortgages are building lots in the tax opportunity zone in St. Petersburg, Florida the tax act of 2018 set up tax free zones across the country where you can 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gold may be poised for its next big run Tom O'Brien publishes his weekly gold report every Monday morning for subscribers consisting of coverage of the XAU HUI, GDX, The Dollar Bonds, South African Rand as well as 25 different mining equities with specific buy-sell recommendations as of April 1st of this year the gold report currently has 8 active positions with an average unrealized profit of almost 8% for each open trade new subscribers get a 30-day money-back guarantee so you have nothing to risk for all the details and to start your gold report subscription today visit the front page of TFNN.com don't let gold's next big run pass you by, sign up today investors 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 4-side fund services LLC don't forget you can listen to TFNN live on your mobile device 24 hours per day go to TFNN.com then hit watch Tiger TV that's TFNN.com then hit watch Tiger TV for the latest market information so Sean you should be very pleased about this I just got an email from George in New York saying I'm still in Teva in fact I'm looking at the double bottom to add so that double bottom is going to be really important so any kind of pullback it shouldn't actually happen right now but it's in the political fear it's right in the field of most aggression which is from politicians wanting to have universal healthcare etc and that will affect some of these pharmaceuticals and biopharmaceuticals we'll see so the question ahead was could I flash the XLK chart again yes 7924 was the high yesterday pullback today gaps down the MAGD is just about to cross negative and it's at 0% the histogram will be negative if it pulls back a little further and the stochastic still strong at 90% but has turned down with the unbalanced volume I think digestive phase that's all just think of it that way I would not be shorting something as strong as this but I would be looking to buy on a pullback if you're inclined and it made a peak F in the 120 minute chart let's see I got another question about the XLE so what did it say XLE a couple of people emailed in different places so obviously that must be important to quite a few people but let me just find this here first of all yes so the XLE maybe yesterday I talked about it about two days ago I said look this is obviously peak E this is the quickest peak A peak B higher peak C higher peak D high peak E by high peak F spent a whole bunch of time in it saying this is ready for a pullback it doesn't yet say that it's a major cell signal but it could be a quite a sharp pullback that's the nature of the Chapman wave methodology when you get these very quick peaks especially in a weekly chart and then to alternate up down up down up down with higher lows and higher highs man that is just this is a chart as a keeper for technical information so the XLE trading down 1.15 at 65.94 else is shorted XOP XLE yesterday how much downside do I have thanks so first of all go step by step we are testing right now the low that was made on that candle right there on the 4th of April of 65 61 the low today 65 64 so it almost hit it if it takes it out your next one is going to be 64 87 the difference here is that if it holds this and it tries to bounce maybe even makes an arch formation my lower case H formation if it does that and then either it takes it out right now and goes right to the 60 64 63 area by Tuesday or Wednesday if next week without a bounce that's very negative but it says the quickening that's over with because the magazine in the weekly chart is still strong the quicker you can find some support to have a bit of a rally okay number 1 if instead by Monday or Tuesday or Sunday night all of a sudden oil is moving up again it could fill some of the gap and I'm going to draw this in as the alternative I'm thinking it's more like this that there's an H pattern and then it does a retest and the retest then maybe goes to this low right here the 64 what did I say 47 what did I say it was 64 87 low of the 25th of March but yeah as the big kicker the data you could take quite a bit of a breather but if the month the weekly chart Magdi and stochastic are still holding steady I don't know if it's going to break down and go to the low that was made of the old trendline support let me just continue this trendline support okay you've got trendline support in the next two days of 6540 so keep them keep that L keep that in mind wait there were two questions about the XLE what was the other question I'll get to in a moment now the only only thing I'm looking at is that gap up high from the low that was made on the eighth of I think it's the eighth of March at 6331 went to peak A peak B pulls back goes to gray a gray B because it's under the previous high the moment it takes out that initial 20th of March high of 6742 starts a leg C and that says you should go to at least a D in the Chapman wave overlapping wave methodology and it goes to D then it says at D you should come back and retest the high that was made for the lip on the left side of 6598 what was the low right there 65 6705 so it did no that's impossible the higher it should have been 6742 there you are and it came down to 6705 so he tested it that's exactly what you want and then it ran up just a little more because the Manatee wasn't quite finished but the stochastic was and lo and behold we made that top in the XLE on the 23rd of April at 6881 and now we're operating at 6598 so that's the pattern I'm drawing in for now so L congratulations XOP is the oil there we go XOP is the spider S&P oil and gas exploration and that has almost to say oh I never finished doing this this went A, B and a little mini AB it does the same thing and then it went CD and went to an E under the 200 period moving average it couldn't treat it as a repellent zone that a magnet so 3111 right now it's taking out that left side low of importance so the next one will be the gap of 30.86 to 30.78 that's the next support level and then you've got the lows that were made at 2999 that's going to be really important now I like to draw channel lines or trend lines when you're coming off a major low you cannot take it from the low you're going to take out very quickly I like to go 2 or 3 bars later where I've got a truffle a gap and that's what I use we've just taken out we haven't at this point we're on the gap on the trend line support if we close below that support it's a 3111 if it closes under 3109 today that's taken out the support and it says the next level of support will be that gap so congratulations oh and this weekly chart of the XOP let me just see XOP XLE what a difference XLE has been way stronger than the XOP I think you might get more from the XOP so keep that in mind congratulations what was the other one someone someone text me oh a question about adding to the XLE absolutely not not yet just this way to see this is the first look I haven't even got a peak F yet in the weekly chart it could even recycle if in the next couple of days it does bounce but I'm just thinking it needs a little more time on the downside the crude oil is down very sharply here look at this made a peak F top right there remember I drew in the rectangle I said we're out of the box I think we're coming back into the box key support will be the low of the 16th of April at 6310 we're trading at 6273 right now legs C in the weekly chart and so far all I can say is that crude oil magnesium stochastic quite poor in the daily chart so there could be a little more downside maybe it's a week of rest that we have I'm calling it a week of rest so crude oil it's going to be important that it holds the low of 6193 to the gap 61 the high 61 is going to be really important start crude oil starts to trade down to 6130 you're going straight down to the 200p moving average of 60.34 quick turnaround I think it's important and I think that's what's impacting the Dow as well in the market look at Exxon comes out with not bad earnings whoa cap down 228 at 7994 peak E there's that cup formation failure pattern I should have put in here I should have put in a down arrow and this would be that inverted cap which says double top drop bucket pattern you're taking out the left so the cup low be careful because it's a good one to one to the downside to 78 I'll be right back that was up 17 I'm certain you are or strive to be one of the best of the best at everything you do in life it's the most common trade that we tigers and tigers share if you're looking to become the best of the best when it comes to managing your money let me teach you to do what most wealth managers tell you can't be done which is how to time the markets I'm Steve Rhodes author of mastering probability and for the last 12 months timer digest has been tracking my newsletter signals which have earned me the ranking as their number one market timer in the nation for the S&P 500 for the last 12, 6 and 3 months timer digest also ranks me as the number one market timer for gold as well the fact is markets can be timed and I'll teach you the exact set of tools that I use that has transformed me into one of the best at what I do sign up for mastering probability today by clicking on the newsletter tab on the homepage of TFNN.com and get immediate access to workshops where I take you step by step how to use an extraordinary set of tools as well as provide great market calls to sign up today if 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ancestors found environments for health in their wild environment but today our food sources no longer contain the vitamins, minerals and nutrients our bodies need to stay healthy and strong that's why we need primal edge daily nutrition it includes a special blend of ionic, soil based vitamins, minerals fatty and amino acids in an easy to use liquid form primal edge is powered by highly concentrated folic and humic acids nature's preferred delivery system they've been called miracle molecules because like sunlight air and water life it does not exist without them that's right Paige they ensure we receive all the nutrition we need to be healthy and thrive we take it every morning primal edge formulated and approved by Niko and Paige of living a primal lifestyle buy it today for just $89 click on the primal edge banner on the front page of TFNN.com hi folks this is Steve Rhodes stay tuned for another great hour of the traders edge heard here at TFNN.com I won't forget Steve comes up straight after this and you've got Dave White and you've got Tom O'Brien have a wonderful weekend in case I run out of time I've got a lot to do here here we go so United Health I happen to tune into once I hear what how did I do it was it yesterday anyway maybe a couple of times this week I've had a chance to listen to CNBC after the close and I just don't know how many people have not talked about UNH United Health group as a major bicycle how could it go low the PE earnings etc and I'm looking at this and I'm saying you know I remember them talking about this when it was making its high in the 287 area back in December and it has fallen to the low just recently of 209 that's a that's a pretty big hit I don't disagree that it's a great company but I have to say that I'm looking at this and I think this is almost like the gold in a way it's just kept going down but there's a different pattern and this is the equity so it's a very different so this is what I'm looking at this is a grey leg A and a grey leg B at this particular point in grey leg B I'm just looking at this and saying I think there's a trade I don't think this is a buy just yet I think there's a lot more work to be done that's what the weekly chart is saying but this is attempting to form some kind of a base this goes into the same thing as Tava this is in the wrong area but it might turn out that it's got a really good rally if on a short term basis it can close above 242 it's a 236 36 points higher sub 5 today already if it can close above 242 then I would have a target of the 244 14 period moving average in the weekly chart and then I would say I think on a shorter term basis you can consider that we've raised the base to the 231 to the 228 if at any point in the next four weeks 228 I'm sorry 222 is taken out as support I think it's got a problem once again so this is a big thing here for me is that there's a Chapman wave Roman candle it's not coming off the high but it could be coming off a pretty decent low and we'll be looking at this right through next week when we close the month how this candle closes the month he's going to give me a tremendous amount of information it's a lot to an attempt for a nice bounce is this the low I'm not sure that this is the low just yet I think there's going to be a lot more testing so have a wonderful weekend check out my opening calls that some real nice trades were in nice positions and let's see how that lasts I didn't get much of the estimations except I thought it'd be a bounce and then we'll see if it makes the H pattern to fall next week I'll be back a month every person who has just started his brand new service


Olga box clips Someone's asking well, how would we have added added to that position? On a dot on a cross So if someone's that yeah, it doesn't matter which ones you can add as many as you want up to you depending on You know your own account size. Okay like me. I want to get into a full position is 16 contracts from me I consider that full go in the water. So we've got multiple sizes. What are they? You should know this go in the water Quarter position half position full full plus. That's your five positions Okay, so depending on what your max size is based on your account your comfort level You need to divide those out make sure that you have a comfortable level with what is your you need to be able to answer this What is your toe in the water? Is it one contract? Is it two contracts on the minis? Is it minis because technically minis allow you even more? Flexibility because on the I'm sorry the micros the minis my apologies.  What's micros? Micro is a tenth of that So maybe toe in the water is for micros. Okay, that's still less than half of one single contract. You guys get there, right? Maybe it's five Now you need to know what your max is because max micros you can do is 50 contracts Everybody know that you should talk about the max and some people don't know this You're like, well, many wise your max 40. Okay, again things that people don't know Okay, it varies per instrument, but in general 50 contracts on anything minis and micros and a hundred for the ES also ZB's super thick markets. They'll let you go up to honor contracts But in general talk to your broker on this but the brokers that we use it's gonna be 50 There was a goal and I've been you know, why don't you just make a billion dollars if you're trying to You don't understand theness of the markets.  I get it But if you want to get smart come here, we'll educate you properly and you'll know real facts So a hundred max on there. So if you're learning like well, why do I only do 40? Why don't I just 50 many if you ever slip-click if you've ever slip-click how many of you how many of you slip-click before Right, so I'm trying thinking I'm getting 40 depending on what I've got over on my side And all of a sudden oh, I'm about 42 I can still do that if I actually slip-click and it's at 44 I'm okay. If I'm at if I am Perfectly trying to time it out to get 50 which by the way 50 is not easily divisible by four It is divided by two, but oftentimes sometimes I go for contracts at a time when I'm getting big, right? So in that scenario, what if I slip-click and go too big and all of a sudden boom I get this big error message that pops back at me. I've got a deal with contract closures I've got a deal with error messages all that kind of stuff. You don't want that to occur, right? So, you know, it's just a general idea around where that is now I can do for ES Sure, you go 100 but again ES is too slow. You're sitting there. You're waiting all day in general. It's too slow However, what happens on a day of the market super fast? That's awesome. Now the speed which is why we have the speedometer You can find an instrument which I did at the very beginning of this entire little mentorship that we did here tonight I talked about speed. How did I choose my instrument? I went and I found out which one is the right speed right now So real easy just look right here and here and here and here see which one see what I mean by yes. Yes, right now 13 this is like snow.  Where's the one that's 100? Okay. This was 47. This was 52. That's good 220 a little bit too fast But I actually still like 200 again It depends you depends on who you are depends on how good you get with this stuff I really on the ones I want to be around a hundred everything else I want to be somewhere in the neighborhood between 50 and 100 Press the like button share subscribe and comment below with your thoughts and what you'd learn