1
00:00:00,680 --> 00:00:03,120
Speaker 1: To be honest with that, don't pay too much attention

2
00:00:03,200 --> 00:00:05,879
to the fundamentals. I am more of a technician, so

3
00:00:05,919 --> 00:00:10,519
I look more at price patterns. The fundamentals are the

4
00:00:10,640 --> 00:00:14,880
underpinnings of why the markets are moving in different directions.

5
00:00:15,480 --> 00:00:20,239
It's just analyzing the technical prices will get you in

6
00:00:20,480 --> 00:00:27,199
on those moves at a time earlier than the fundamentals.

7
00:00:26,519 --> 00:00:28,719
Speaker 2: Will paint that full picture for you. If that makes

8
00:00:28,800 --> 00:00:30,480
this you're listening to Carrie.

9
00:00:30,559 --> 00:00:34,640
Speaker 3: Let'sa's financial survival Network where you get valuable information you

10
00:00:34,840 --> 00:00:39,119
just can't find anywhere else to thrive in today's trying times.

11
00:00:39,359 --> 00:00:43,320
You need the financial Survival Network now more than ever.

12
00:00:43,920 --> 00:00:47,399
Go to Financial Survivalnetwork dot com and get your free

13
00:00:47,479 --> 00:00:53,119
newsletter and gift. Financial Survival Network now more than.

14
00:00:52,960 --> 00:01:00,439
Speaker 2: Ever, and welcome. This is Financial Survival Network your host,

15
00:01:00,520 --> 00:01:03,759
Carrie lutz. Ay, we got Michael Moore with us today,

16
00:01:03,920 --> 00:01:09,480
not the Michael Moore, the more from more Analytics and

17
00:01:09,519 --> 00:01:12,239
with us to review some markets see where they're heading,

18
00:01:12,599 --> 00:01:17,840
particularly of noted interest, energy, gold, bitcoin, and we'll get

19
00:01:17,879 --> 00:01:20,439
to some others if we have a chance. Michael, it's

20
00:01:20,439 --> 00:01:23,400
great to have you back on the show. So what

21
00:01:23,640 --> 00:01:27,159
do the markets have in store for us today or now.

22
00:01:27,439 --> 00:01:30,840
Speaker 1: Karen, thank you very much for having Joe. Okay, this

23
00:01:31,000 --> 00:01:34,280
is crude oil. We've obviously generally been in a slab

24
00:01:34,599 --> 00:01:39,640
over the past three weeks, four weeks. Break the tree

25
00:01:39,680 --> 00:01:43,280
blow eighty most recently the rady below eighty eighty two

26
00:01:43,799 --> 00:01:46,040
has brought in four dollars and seventy cents of pressure.

27
00:01:46,200 --> 00:01:48,319
And I said, no, we're an embarrassed correction, a trend

28
00:01:48,359 --> 00:01:51,120
against the move up from seventy to twenty three. And

29
00:01:51,159 --> 00:01:53,840
I said, and if it's a correction, we've entered into

30
00:01:53,879 --> 00:01:56,920
the ideal time frame for an exhaustion area to hold.

31
00:01:57,560 --> 00:01:59,760
And we today we came down and we just touched

32
00:01:59,760 --> 00:02:02,519
below this exhaustional area at seventy six to fifty seven.

33
00:02:02,640 --> 00:02:04,959
We treated down to seventy six oh four voted rallied

34
00:02:05,000 --> 00:02:07,480
right here. Now, this doesn't change this and make this

35
00:02:07,560 --> 00:02:08,639
bullish necessarily.

36
00:02:09,280 --> 00:02:10,000
Speaker 2: The one thing I.

37
00:02:09,919 --> 00:02:12,759
Speaker 1: Would note is that the heating oil and the gas

38
00:02:12,759 --> 00:02:15,439
oil both have turned bullish today.

39
00:02:15,439 --> 00:02:16,919
Speaker 2: They've both broken above.

40
00:02:17,280 --> 00:02:21,520
Speaker 1: Formation in those that project them higher. So I would

41
00:02:21,800 --> 00:02:24,479
expect that the creue oil is likely going to follow,

42
00:02:24,599 --> 00:02:29,240
because the heating oil is leading the complex right now.

43
00:02:30,120 --> 00:02:31,960
The reason why we know the heating rail is leading

44
00:02:32,000 --> 00:02:32,639
the complex.

45
00:02:33,000 --> 00:02:33,479
Speaker 2: Is I.

46
00:02:35,199 --> 00:02:38,800
Speaker 1: Weigh these spreads between the products of crude oil and

47
00:02:38,840 --> 00:02:42,599
the crude oil, that dictates to me which product is

48
00:02:42,719 --> 00:02:45,840
leading the complex to the other side. Currently it is

49
00:02:45,879 --> 00:02:49,039
the heating role that is leading the complex to the upside,

50
00:02:49,280 --> 00:02:52,520
so crude oil is most likely going to follow. I

51
00:02:52,520 --> 00:02:54,719
would also follow that up of saying that if this

52
00:02:54,840 --> 00:02:58,400
crude oil gaps open higher tomorrow, is the market's going

53
00:02:58,479 --> 00:03:00,360
to close in twenty three minutes from now. If the

54
00:03:00,400 --> 00:03:03,719
gaps are up at higher tomorrow, it will leave a

55
00:03:03,719 --> 00:03:07,319
minor bullish reversal below that will likely bring in higher

56
00:03:07,360 --> 00:03:10,800
trade for a couple of days. But the eyes are

57
00:03:10,800 --> 00:03:12,879
really on the heating oil to see what that does.

58
00:03:12,919 --> 00:03:16,080
If that fails back down below the formation you've broke

59
00:03:16,120 --> 00:03:19,800
about today, then the whole market should capitulate and continue

60
00:03:19,800 --> 00:03:21,120
back down to the downside.

61
00:03:21,560 --> 00:03:28,439
Speaker 2: All right, So interesting, and so we're you know, it's

62
00:03:28,479 --> 00:03:31,719
summer now. They used to once upon a time build

63
00:03:31,800 --> 00:03:37,639
inventories for the winter. Is that what's going on now here?

64
00:03:37,800 --> 00:03:39,479
Or is something else happening?

65
00:03:40,719 --> 00:03:43,159
Speaker 1: To be honest with that, don't pay too much attention

66
00:03:43,199 --> 00:03:45,879
to the fundamentals. I am more of a technician, so

67
00:03:45,960 --> 00:03:50,560
I look more at price patterns. The fundamentals are the

68
00:03:50,639 --> 00:03:54,919
underpinnings of why the markets are moving in different directions.

69
00:03:55,479 --> 00:04:00,240
It's just analyzing the technical prices will get you in

70
00:04:00,479 --> 00:04:05,599
on those moves at a time earlier, and then the

71
00:04:05,759 --> 00:04:08,240
fundamentals will paint that full picture for you.

72
00:04:08,240 --> 00:04:11,319
Speaker 2: If that makes sense. Yep, it certainly does. We get

73
00:04:11,360 --> 00:04:14,080
that because it.

74
00:04:13,960 --> 00:04:16,920
Speaker 1: Heads up to in the heating well. That formation that

75
00:04:16,959 --> 00:04:20,800
we broke above came in at two forty four sixty

76
00:04:20,839 --> 00:04:25,240
four as a one o'clock and that decreases by seven

77
00:04:25,319 --> 00:04:28,040
ticks per hour. If we fail back below that decently,

78
00:04:28,079 --> 00:04:29,399
that'll turn the market.

79
00:04:29,120 --> 00:04:33,639
Speaker 2: Back to bearsh Okay, interesting, interesting, Okay.

80
00:04:33,600 --> 00:04:36,839
Speaker 1: Next, and so you want to take a look at

81
00:04:36,879 --> 00:04:37,720
the gold.

82
00:04:38,759 --> 00:04:41,160
Speaker 2: Yeah, they're always interested in gold.

83
00:04:41,319 --> 00:04:44,680
Speaker 1: So gold, we really has come off pretty hard here.

84
00:04:44,839 --> 00:04:48,120
We've been embarras since holding exhaustion up above. Had a

85
00:04:48,199 --> 00:04:51,279
large gap open lower yesterday. So the gold I warned

86
00:04:51,279 --> 00:04:53,839
to trey below twenty four sixty four eighty to twenty

87
00:04:53,920 --> 00:04:56,519
four sixty one twenty with wren a decent pressure.

88
00:04:56,199 --> 00:04:57,199
Speaker 2: Likely for days.

89
00:04:57,839 --> 00:05:01,360
Speaker 1: We had come off ninety six dollars ten cents coming

90
00:05:01,399 --> 00:05:04,519
into this morning and a little bit more than that today,

91
00:05:05,120 --> 00:05:08,639
and then the trade below twenty four eleven projects this

92
00:05:08,759 --> 00:05:12,600
downward sixty five dollars plus we'd seen forty five point

93
00:05:12,680 --> 00:05:14,639
one of that so far, and then another piece of

94
00:05:14,680 --> 00:05:17,480
that today as well, and then the trade below twenty

95
00:05:17,519 --> 00:05:24,480
three twenty also order pressure today also we are likely

96
00:05:24,560 --> 00:05:27,800
going to lead a minor bearish reverse above.

97
00:05:29,000 --> 00:05:32,279
Speaker 2: Yeah. Second here right here, so.

98
00:05:32,199 --> 00:05:35,600
Speaker 1: Were negative and minor bullish reversal from below the previous

99
00:05:35,639 --> 00:05:38,800
day left the minor bears reversal above today. Actually that's

100
00:05:38,800 --> 00:05:42,560
already in place because the gold's already closed at one third,

101
00:05:43,199 --> 00:05:48,639
So I think this the entire timeframe bearish correction against

102
00:05:48,759 --> 00:05:53,879
me up from nineteen even twenty so this can still

103
00:05:53,920 --> 00:05:58,800
see considerable lower trade. Those first exhaustion levels for the

104
00:05:58,879 --> 00:06:04,759
higher timeframe are don't even come until twenty two sixty

105
00:06:04,800 --> 00:06:07,199
six to twenty two fifty five, and then you have

106
00:06:07,279 --> 00:06:10,519
luck on that at twenty one ninety four to twenty

107
00:06:10,600 --> 00:06:13,199
one ninety one twenty So.

108
00:06:13,360 --> 00:06:14,600
Speaker 2: Yeah, looking pretty barrissie.

109
00:06:16,120 --> 00:06:17,240
Speaker 1: Do you have any questions on that?

110
00:06:17,600 --> 00:06:24,120
Speaker 2: Or I can see your point there looks like looks

111
00:06:25,319 --> 00:06:26,639
like a little topy. Huh.

112
00:06:27,319 --> 00:06:30,160
Speaker 1: Yeah, Well, if this is a sixty minute chart, if

113
00:06:30,199 --> 00:06:32,839
I was to go to a daily chart like this

114
00:06:32,920 --> 00:06:36,759
one and really tighten it up a bit like this,

115
00:06:37,639 --> 00:06:40,480
you can see we've had this five wave structure up here,

116
00:06:40,759 --> 00:06:45,120
peaked right here held exhaustion, and then as you're starting

117
00:06:45,160 --> 00:06:48,120
to roll over. So I think that this correction is

118
00:06:48,120 --> 00:06:50,160
going to exceed the size of this one right here,

119
00:06:50,240 --> 00:06:52,560
probably down into here, but probably dip down into these

120
00:06:52,600 --> 00:06:58,079
lower areas before slash. If reasonable higher trade, this would

121
00:06:58,120 --> 00:07:02,319
be an area of a solidation or support if if

122
00:07:02,360 --> 00:07:07,600
you want to call it that, between twenty three oh

123
00:07:07,639 --> 00:07:11,160
eight seventy and uh twenty three oh four to seventy

124
00:07:11,399 --> 00:07:14,480
you really take that out that can you know, really

125
00:07:14,560 --> 00:07:17,199
take this dot intoto the twenty one seventies or so,

126
00:07:18,000 --> 00:07:19,519
and you wanted to look at the coin er, did

127
00:07:19,560 --> 00:07:20,720
you have any questions on that before?

128
00:07:20,800 --> 00:07:23,839
Speaker 2: We? Yeah, makes sense makes sense there.

129
00:07:24,639 --> 00:07:29,639
Speaker 1: So the big cooin, the trade above fifty six seven

130
00:07:29,839 --> 00:07:34,079
forty uh turned to spolish. We'd singing eleven nine hundred

131
00:07:34,120 --> 00:07:36,279
and fifteen per coin of that, and then the trade

132
00:07:36,319 --> 00:07:39,360
above sixty one oh forty five projected this upward seven

133
00:07:39,399 --> 00:07:42,800
thousand per coin. We attained seven thousand, six hundred and

134
00:07:42,800 --> 00:07:45,600
ten of that so far However, I noted that right

135
00:07:45,680 --> 00:07:48,720
up in here with these two little lines this denoted

136
00:07:49,079 --> 00:07:50,079
possible exhaustion.

137
00:07:50,639 --> 00:07:52,959
Speaker 2: We held it just about exactly.

138
00:07:52,560 --> 00:07:57,399
Speaker 1: Right there at the sixty eight one one to sixty

139
00:07:57,399 --> 00:07:59,839
eight five eighty nine with the sixty eight six fifty

140
00:07:59,839 --> 00:08:02,920
five high and rolled over four thy eight hundred and

141
00:08:02,959 --> 00:08:05,040
sixty five or coin in a little bit more than

142
00:08:05,079 --> 00:08:10,720
that today possibly in embarrassed correction against this move up

143
00:08:10,920 --> 00:08:15,800
from fifty three six thirty five. Initial exhaustion is at

144
00:08:15,839 --> 00:08:18,240
sixty two nine one seven, and then we have another

145
00:08:18,279 --> 00:08:22,720
one at sixty one, and then other times. If this

146
00:08:22,839 --> 00:08:25,639
rally is up and takes at this formation above here,

147
00:08:26,040 --> 00:08:30,399
which comes in at sixty nine five hundred plus twenty

148
00:08:30,439 --> 00:08:34,000
one per hours starting at two o'clock PM Eastern Standard time,

149
00:08:34,720 --> 00:08:36,960
that will more of renewed strength.

150
00:08:38,320 --> 00:08:42,120
Speaker 2: So what do you think I mean in the longer

151
00:08:42,200 --> 00:08:46,519
run is the is the run up still intact or

152
00:08:48,039 --> 00:08:48,440
are well?

153
00:08:49,000 --> 00:08:51,679
Speaker 1: We can see, uh, this is a daily chart right here,

154
00:08:51,799 --> 00:08:55,840
we're just pulls together a little bit. I think this

155
00:08:56,000 --> 00:09:00,879
this run up from the you know, twenty thousand of

156
00:09:01,039 --> 00:09:03,080
coin level here, I think that this is just a

157
00:09:03,080 --> 00:09:07,639
bearish correction against this. So if this takes out this

158
00:09:07,720 --> 00:09:12,879
formation above, it will have very significant projections to the upside.

159
00:09:13,240 --> 00:09:16,399
Let me just pull that together again. That line up

160
00:09:16,480 --> 00:09:17,320
there is red apere.

161
00:09:17,320 --> 00:09:19,600
Speaker 2: I didn't mention that. I'm sorry that comes in.

162
00:09:19,639 --> 00:09:23,919
Speaker 1: It's seventy one five point fifty one minus one per

163
00:09:23,960 --> 00:09:28,840
hour starting at two o'clock PM Eastern Standard time. We

164
00:09:28,919 --> 00:09:31,840
break above that diesel, and that is going to project

165
00:09:31,879 --> 00:09:35,919
this upward eighteen thousand plus per coin. So that's a

166
00:09:36,000 --> 00:09:39,200
very significant formation to keep an eye out, all right,

167
00:09:39,279 --> 00:09:41,279
right now, just short term we're bearish.

168
00:09:40,960 --> 00:09:45,960
Speaker 2: Right here, short term bearish, but potentially could go higher.

169
00:09:46,240 --> 00:09:49,039
How high I kind of go here, I mean, it's right.

170
00:09:49,600 --> 00:09:51,919
Speaker 1: If we take this formation out above, this thing could

171
00:09:51,919 --> 00:09:54,200
really scream. I mean, this thing could move up into

172
00:09:54,279 --> 00:10:00,519
the hunderd and five outright upon those levels. But at

173
00:10:00,559 --> 00:10:02,840
the very minimum, we take that formation out of and

174
00:10:02,960 --> 00:10:05,360
reject this up. We're eighteen thousand per coin.

175
00:10:05,360 --> 00:10:09,440
Speaker 2: From that level. And it's been a bit range bound,

176
00:10:10,279 --> 00:10:15,360
you know, fluctuating between like mid fifties up to like

177
00:10:16,720 --> 00:10:22,600
high sixties exactly, and it's like it's waiting for a

178
00:10:22,639 --> 00:10:25,879
push up or down. You know, I can't figure out which,

179
00:10:25,919 --> 00:10:30,559
but the trend is still up for now. Could it

180
00:10:30,600 --> 00:10:34,960
have peaked. I don't know it hit it all time high, So.

181
00:10:35,600 --> 00:10:38,919
Speaker 1: I think we're more higher likely scenario is a run

182
00:10:38,960 --> 00:10:42,519
to the upside. This is a lot of consolidation right

183
00:10:42,559 --> 00:10:44,639
in here, if you can see MS screen. But the

184
00:10:44,799 --> 00:10:48,639
run that consolidation was from lower levels strongly up into it.

185
00:10:49,039 --> 00:10:51,440
So usually you have a big run like that, it's

186
00:10:51,480 --> 00:10:55,200
going to consolidate for a while before launching off into

187
00:10:55,240 --> 00:11:00,440
a whole nother run. So yeah, just short term embarrassed

188
00:11:00,480 --> 00:11:00,799
right here.

189
00:11:00,799 --> 00:11:01,600
Speaker 2: But I think.

190
00:11:02,960 --> 00:11:06,600
Speaker 1: The more likely scenario will be that this will eventually

191
00:11:06,600 --> 00:11:07,720
continue to the upside.

192
00:11:08,919 --> 00:11:13,320
Speaker 2: Okay, cool, all right, I buy it. I am buying it,

193
00:11:13,399 --> 00:11:15,320
so you don't have to sell it.

194
00:11:16,279 --> 00:11:21,240
Speaker 1: Well, just as a point to your listeners, some people,

195
00:11:21,279 --> 00:11:26,200
when they approach the markets, they most retail people approach

196
00:11:26,279 --> 00:11:34,919
the markets from an investors standpoint, right, not a trader's standpoint.

197
00:11:35,039 --> 00:11:42,159
This is true, and the difficulty with that is they

198
00:11:42,240 --> 00:11:48,519
often take whole positions for significant periods of time against themselves,

199
00:11:49,080 --> 00:11:52,519
and the worst thing that can happen with that is

200
00:11:52,519 --> 00:11:55,240
that they're correct and then it takes off again and

201
00:11:55,279 --> 00:11:57,759
they rally. Then they feel good about holding the position

202
00:11:57,840 --> 00:12:03,759
for all that time. There's also opportunity costs there. First

203
00:12:03,799 --> 00:12:05,720
of all, if the thing keeps going down, you can

204
00:12:05,759 --> 00:12:08,840
really get destroyed. Second of all, while it's going down

205
00:12:08,919 --> 00:12:11,440
for a long period of time, you know you're not

206
00:12:11,519 --> 00:12:15,240
making money in that investment. And one of the things

207
00:12:15,320 --> 00:12:19,879
that's helpful about having an analyst like me or somebody

208
00:12:19,879 --> 00:12:22,039
else who knows what they're doing in the market and

209
00:12:22,080 --> 00:12:26,120
knows different levels. Even if you're not able to trade

210
00:12:26,679 --> 00:12:28,799
on a day to day basis every day in and

211
00:12:28,799 --> 00:12:31,799
out of the markets, if you know decent levels on

212
00:12:31,879 --> 00:12:37,480
the way down, you're better off getting out of lungs.

213
00:12:38,879 --> 00:12:41,759
Let's say, for example, you want to hold it for

214
00:12:41,919 --> 00:12:43,879
a big move to the upside and then the market

215
00:12:43,919 --> 00:12:46,840
starts going down against You're better off getting out of

216
00:12:46,879 --> 00:12:50,679
the lungs below certain formations and then trying to buy

217
00:12:50,759 --> 00:12:55,080
again at small areas where you can take minimal risk,

218
00:12:55,639 --> 00:12:58,080
and if it bounces off that area, you take off

219
00:12:58,120 --> 00:13:00,559
part of your position to pay for the trade. And

220
00:13:00,600 --> 00:13:02,919
that way, if it goes down through the level, then

221
00:13:02,960 --> 00:13:05,000
it's basically a wash, or maybe you make a little

222
00:13:05,000 --> 00:13:07,759
bit of money and keep doing that at different levels

223
00:13:07,799 --> 00:13:10,279
on the way down, and eventually if that if the

224
00:13:10,320 --> 00:13:13,799
market is going to return to the upside, you'll be

225
00:13:13,960 --> 00:13:17,759
only very close to its turning inception, but having taken

226
00:13:17,919 --> 00:13:19,879
much less risk on the way down.

227
00:13:20,399 --> 00:13:25,519
Speaker 2: Okay, I'll buy that. I'll buy it makes sense old

228
00:13:25,600 --> 00:13:29,360
Wall Street maxim you never go broke on Wall Street

229
00:13:29,360 --> 00:13:30,559
taking the profit right.

230
00:13:31,039 --> 00:13:33,440
Speaker 1: Well, I've heard people say that, but that can that

231
00:13:33,480 --> 00:13:37,799
can definitely be false. Also depends on when you're taking

232
00:13:37,799 --> 00:13:38,600
those profits.

233
00:13:38,759 --> 00:13:41,039
Speaker 2: You know, if you're if you're well to.

234
00:13:41,000 --> 00:13:44,480
Speaker 1: Your point, if you're letting your losers run against you,

235
00:13:45,159 --> 00:13:48,240
but you're taking your profits too quickly, then you can

236
00:13:48,279 --> 00:13:52,240
get annihilated. But what you want to do is you

237
00:13:52,279 --> 00:13:54,039
want to limit your losses and let.

238
00:13:54,000 --> 00:13:56,840
Speaker 2: Your winners run. Yes, you want to cut your losses

239
00:13:57,080 --> 00:13:59,120
and let your profits run.

240
00:14:00,399 --> 00:14:05,120
Speaker 1: But what is one very true Wall Street mecho that

241
00:14:05,320 --> 00:14:08,960
I think everyone would do well to remember is the

242
00:14:09,000 --> 00:14:13,080
markets can stay irrational more longer.

243
00:14:12,759 --> 00:14:17,559
Speaker 2: Than you can stay liquid solving. Yeah, this is very true,

244
00:14:18,159 --> 00:14:19,519
no question about.

245
00:14:19,240 --> 00:14:23,679
Speaker 1: It, and a good example to anybody out there if

246
00:14:23,720 --> 00:14:26,639
they're wondering whether they should just hold something against themselves.

247
00:14:26,799 --> 00:14:29,759
Is crude oil back in twenty twenty one that went

248
00:14:29,799 --> 00:14:34,039
to negative forty dollars a barrow briefly, which would have

249
00:14:34,080 --> 00:14:38,440
wiped out anybody's account. So always trade with stops, Always

250
00:14:38,480 --> 00:14:39,879
know where you want to get out if it goes

251
00:14:39,919 --> 00:14:42,440
against you, and have an idea of where you want to.

252
00:14:42,399 --> 00:14:46,360
Speaker 2: Get back in. Yeah, if you want to get back in, sure,

253
00:14:46,799 --> 00:14:50,200
exactly makes a lot of sense. All right, what else

254
00:14:50,279 --> 00:14:50,840
we got here?

255
00:14:51,159 --> 00:14:53,039
Speaker 1: You like to take a look at the SMP.

256
00:14:53,720 --> 00:14:56,200
Speaker 2: Yeah, let's look at the S and P unless you

257
00:14:56,200 --> 00:14:59,120
want to look at natural gas. You let's look at

258
00:14:59,200 --> 00:15:01,879
SMP first and we can finish up with that gas.

259
00:15:02,320 --> 00:15:05,000
Speaker 1: Okay, With the S and P five hundred, we can

260
00:15:05,039 --> 00:15:07,360
see here we've had a couple of We had a

261
00:15:07,360 --> 00:15:11,440
gap lower here on the seventeenth of July, another big

262
00:15:11,480 --> 00:15:15,279
gap lower here of the twenty fourth of July. More importantly, though,

263
00:15:15,320 --> 00:15:16,320
we held a very.

264
00:15:16,240 --> 00:15:18,240
Speaker 2: Key exhaustion up here. You can see that in red.

265
00:15:20,120 --> 00:15:22,360
Speaker 1: I've been on the show a number of times for

266
00:15:22,840 --> 00:15:26,320
quite a period back, so just as a macro summary

267
00:15:26,320 --> 00:15:28,159
of some of the other things i've called in here,

268
00:15:28,720 --> 00:15:32,440
then bullish Since thirty five oh two, which I said

269
00:15:32,559 --> 00:15:36,960
we'd likely start a macro bullish trend, we've seen twenty

270
00:15:37,120 --> 00:15:40,399
two hundred and nineteen point two to five handles of that,

271
00:15:40,799 --> 00:15:43,399
and a lot of other detish formations in here along

272
00:15:43,440 --> 00:15:46,799
the way. All of those are on hold. I said,

273
00:15:46,840 --> 00:15:50,159
we held possible exhaustion at fifty seven nineteen seventy five

274
00:15:50,200 --> 00:15:52,600
to fifty seven to twenty six even then with the

275
00:15:52,639 --> 00:15:56,480
fifty seven and twenty five high and had rolled over

276
00:15:56,559 --> 00:15:59,399
two hundred and seventy points coming into today, and then

277
00:15:59,399 --> 00:16:01,559
a little bit more than that right here, and then

278
00:16:01,600 --> 00:16:04,320
the trade below fifty six to nineteen brought it one

279
00:16:04,399 --> 00:16:07,039
hundred and sixty eighty pressure, and then more recently the

280
00:16:07,080 --> 00:16:11,440
break below fifty five seventy two. I said, projected this

281
00:16:11,559 --> 00:16:14,919
downwards sixty four minimum one hundred and twenty two plus

282
00:16:14,919 --> 00:16:18,639
maximum based off of well formed formation. We attained one

283
00:16:18,679 --> 00:16:20,960
hundred and twenty one of that coming into today, and

284
00:16:21,000 --> 00:16:24,480
then got the one twenty two plus right here before

285
00:16:24,519 --> 00:16:29,080
holding this exhaustion below. Short term right here, I'm bullish

286
00:16:29,120 --> 00:16:33,799
because we broke back above this line at fifty five

287
00:16:33,919 --> 00:16:38,120
seventy three twelve or fifty five seventy three. Basically, it

288
00:16:38,200 --> 00:16:41,639
has odd odd levels here. It doesn't take in those increments,

289
00:16:41,639 --> 00:16:43,200
but I have them there because it's a line that's

290
00:16:43,240 --> 00:16:45,639
moving down that you're trying to adjust. So short term

291
00:16:45,679 --> 00:16:48,000
here I'm bullish, but I think that in general this

292
00:16:48,120 --> 00:16:51,399
is probably not finished to the downside yet and probably

293
00:16:51,720 --> 00:16:54,440
a likelihood of rolling rover again. If this was the

294
00:16:54,480 --> 00:16:58,399
trade decently back above this major formation above, which comes

295
00:16:58,399 --> 00:17:03,919
in at fifty five to thirty five plus thirty four

296
00:17:03,960 --> 00:17:07,400
per hour starting at two o'clock PM Eastern Standard time,

297
00:17:07,839 --> 00:17:11,680
I would be out of all shorts long and looking

298
00:17:11,680 --> 00:17:14,440
for this to rally for days, and that would probably

299
00:17:15,279 --> 00:17:17,240
be a high likelihood that this would run back up

300
00:17:17,240 --> 00:17:19,680
the fifty seven to twenty one and a quarter plus.

301
00:17:20,279 --> 00:17:22,799
Then can we take out this formation down below here,

302
00:17:22,960 --> 00:17:26,640
which comes in at fifty four thirty three sixty four

303
00:17:27,440 --> 00:17:30,920
plus twenty two per hour starting at two o'clock PM

304
00:17:30,920 --> 00:17:34,640
Eastern standard tug that will ward of decent pressure. There

305
00:17:34,680 --> 00:17:37,240
are some exhaustion levels to contend with on the way down.

306
00:17:39,039 --> 00:17:42,079
One of them comes in at fifty seven seventy seventy five,

307
00:17:42,400 --> 00:17:44,680
next one down below comes in at fifty two eighty

308
00:17:44,720 --> 00:17:47,559
seven seventy five, and then a final one comes in

309
00:17:47,559 --> 00:17:52,200
it fifty one seventy even to fifty one sixty fifty

310
00:17:53,440 --> 00:17:56,960
And any questions on that part go to the natural gas.

311
00:17:57,359 --> 00:18:00,440
Speaker 2: I think that looks pretty good, yeah, let's do that us.

312
00:18:00,599 --> 00:18:02,680
Speaker 1: Okay, natural gas, giving what second, I just could to

313
00:18:02,720 --> 00:18:06,279
pull it back up here. So the natural gas just

314
00:18:06,319 --> 00:18:08,200
as an overall because we've been on the show for

315
00:18:08,200 --> 00:18:11,079
a while, we've been bear since eight dollars and twenty

316
00:18:11,200 --> 00:18:11,759
point eight.

317
00:18:12,400 --> 00:18:15,880
Speaker 2: Yeah, I remember that glory days.

318
00:18:16,039 --> 00:18:18,720
Speaker 1: Yep, we've seen six dollars and sixty eight point six

319
00:18:18,759 --> 00:18:20,799
of that to the downside. A number of other bearish

320
00:18:20,839 --> 00:18:21,720
formations in here.

321
00:18:21,880 --> 00:18:22,079
Speaker 2: Well.

322
00:18:22,119 --> 00:18:24,519
Speaker 1: Recently we had a run up we held exhaustion up

323
00:18:24,519 --> 00:18:27,000
above at three twenty two ten and it rolled over

324
00:18:27,039 --> 00:18:32,519
a dollar twenty point six, and then yesterday we left

325
00:18:32,599 --> 00:18:36,720
a Yesterday we left a minor barish reversal above that

326
00:18:36,799 --> 00:18:39,839
wanted a renewed pressure, likely back down towards the lows.

327
00:18:40,359 --> 00:18:43,079
Starting to see that pressure down towards the two oh

328
00:18:43,160 --> 00:18:46,119
one fifty level. But I would caution that this is

329
00:18:46,279 --> 00:18:48,960
likely in the last stretch of the moved down from

330
00:18:49,960 --> 00:18:51,000
three twenty two ten.

331
00:18:51,640 --> 00:18:55,880
Speaker 2: With exhaustion levels. What's that it looks at It looks

332
00:18:55,920 --> 00:18:57,680
like a double bottom's coming.

333
00:18:58,519 --> 00:19:01,240
Speaker 1: So we have exhaustion levels aware of one ninety four

334
00:19:01,359 --> 00:19:04,279
sixty and then another level here at one eighty five

335
00:19:04,400 --> 00:19:08,799
seventy to one eighty ninety and one further one down

336
00:19:08,839 --> 00:19:11,000
below here at one sixty twenty two.

337
00:19:11,519 --> 00:19:13,920
Speaker 2: One fifty two fifty.

338
00:19:14,279 --> 00:19:16,359
Speaker 1: Also, if it takes out this line above here, which

339
00:19:16,400 --> 00:19:18,279
is a well formed line that's going to come in

340
00:19:18,319 --> 00:19:22,680
at twenty two eighteen ninety minus one point five ticks

341
00:19:22,680 --> 00:19:25,200
per hour starting at two o'clock PM Eastern Standard time,

342
00:19:25,720 --> 00:19:28,359
that will project this up with two hundred ticks minimum,

343
00:19:28,480 --> 00:19:35,279
three hundred and seventy tis plus maximum. Yeah, so that summarrasses, Yes.

344
00:19:34,839 --> 00:19:36,039
Speaker 2: All right, I'll buy it.

345
00:19:36,519 --> 00:19:39,400
Speaker 1: My commentary can be somewhat dried into the point and

346
00:19:39,559 --> 00:19:45,400
very numerical, but I meet all my clients life hedge

347
00:19:45,400 --> 00:19:48,799
funds and industry companies and in proprietary traders, so they're

348
00:19:48,880 --> 00:19:52,400
right dialed into the specifics of the numbers.

349
00:19:51,519 --> 00:19:56,839
Speaker 2: All okay, I like it. I like it? All right, Michael,

350
00:19:56,880 --> 00:19:58,000
where do we find you again?

351
00:20:00,119 --> 00:20:03,240
Speaker 1: You can go to my website which is more analytics.

352
00:20:03,799 --> 00:20:05,960
Let me just pull up a thing just to the

353
00:20:06,359 --> 00:20:11,200
youwers can see it real quick. Here we go, all right,

354
00:20:11,640 --> 00:20:13,799
you have more analytics. More is just spelled m O

355
00:20:14,279 --> 00:20:17,839
R no E at the end. So sorry, mare Aux

356
00:20:17,920 --> 00:20:19,920
dot com right carries reach me by.

357
00:20:19,799 --> 00:20:22,920
Speaker 2: Email or phone very well. The link is in the show.

358
00:20:23,000 --> 00:20:28,839
It's this interview on Financial Survival Network dot com. And hey,

359
00:20:29,000 --> 00:20:31,640
when you go there, take a look at the site.

360
00:20:31,799 --> 00:20:34,039
Sign up for a free newsletter. I know you like it.

361
00:20:34,240 --> 00:20:37,839
Got like really good stuff on it, information you will

362
00:20:37,880 --> 00:20:42,359
not find anywhere else. And got a question for Michael

363
00:20:42,480 --> 00:20:46,000
or myself, Shoot me an email kl at Carrie lets

364
00:20:46,039 --> 00:20:49,640
dot com. Mike, always a pleasure, Thanks for stopping by.

365
00:20:49,960 --> 00:20:50,680
Speaker 1: Thank you very much.

366
00:20:50,720 --> 00:20:54,640
Speaker 3: Carry I appreciate thanks for listening to Carrie Lets's Financial

367
00:20:54,720 --> 00:20:59,720
Survival Network, your solution to today's trying times. For the latest,

368
00:20:59,759 --> 00:21:05,640
go to Financial Survivalnetwork dot com. Financial Survival Network now

369
00:21:05,640 --> 00:21:06,480
more than ever,