 The following is a presentation of TFNN The Trader's Edge with Steve Rhodes Call now toll free at 1-877-927-6648 or internationally at 727-873-7618 The Trader's Edge Now Steve Rhodes Good day folks. Welcome to the May 7th The fantastic Friday edition of today's Trader's Edge show I'm your host Stevie Perseverance Rhodes who absolutely knows that each of us should always be pioneers of our future Versus prisoners of our past hope everyone out there's having a great day. Hey, let's make sure we have an extraordinary One of the easiest way to do that is to always remember that life is happening for us Not to us That's right. We need to make that one little two-by-four shift means we can find the gift in every set of circumstance that life is gonna Toss out is now today you and I we're gonna go check on the circumstance of these markets We'll go figure out what those bulls and bears what those buyers and sellers are communicating To you and I at just past one o'clock in the afternoon. I want you to know. I'm absolutely grateful for your presence here But more important than that and that's this during this next 60 minutes. I'm here to serve you So feel free to pick up that phone. Give us call 877 927-6648 if you can't dial in We've got you covered there, too You can always send me an email send it to Steve at tfn.com Inside that subject heading if you'd be kind enough to put radio show question in in our Tigers Didn't want any in every ping will do so let's go ahead and get this show started on Fantastic Friday, of course, this is tiger by dance a news network. I'm Steve Rhodes. Welcome to a less show right now If you're tuning in it's 808 in the morning We are recording the show we try to make it as pertinent as we can to the normal one o'clock slot But right now we've got equity futures US equity futures that is trading to the downside now's off 90 points S&P's off 14 Nasdaq 100 down 60 the Russell's off 3 Over an age last night a bit of a mixed bag It was the Nikkei that was up 185 points Shanghai and the hang saying we're off the Hank sang down 791 points nearly 4% Over in Australia. They closed down 2% the Australian S&P 200 that is the DAX is down 170 points That's one or two tenths percent in the footsies off 1% or 73 points Goldie locks up 7 bucks Silver's off 3 pennies Platinum down 24 bucks platinum 44 bucks. That's two and a half and 2% respectively 30 treasure basically flat. It's down 4 ticks at 13705 What's all that mean? Where's everything trading? Let's just simply go to this little quick market update chart No, go dive down in detail as to what's going on But here's kind of a nine panel chart just to give us an overview of what many of the markets are doing The top portion is dealing with the equity markets You've got the ESMini the upper left hand side the ESMini is trading below the bottom of its daily bottom of its weekly profile Last level of support would be that 40 92 75 level That's a teeny nine count bottom for the ESMini that was a rosement and indicator bottom So 40 92 75 is a key level if you see a close below that that's going to suggest lower price No spot ball till next is the next chart Well above its 50 day expense moving average, which was at 26 12 Yesterday one day rate of change was well above plus 10% and we still haven't seen that rally that we typically see We get a one day rate of change above plus 10% So that still is in the offing and we're going to go take a look at the short term timeframe charts To see if we can figure that out the NQ is testing support The NQ actually has a by the d-point an a to b equals cd pattern I've drawn in here just simply because it would just clutter the chart and as long as price holds That means closes above 12 801 50 that pattern will remain in play out here Now prices below the bottom of its daily profile not a good thing But what the the key level here for the daily timeframe is going to be that 12 801 50 area Move down to the next panel next panel You've got the US dollar index on the left-hand side that shows a TD 9 count top that is in play Price of consolidating with inside its daily profile the TD 9 count top would fail and suggest a strong moment to move to The upside if there was a close above 103 95 Otherwise what you have right now is just a bit of a consolidation in the case of Goldilocks down below the bottom of its daily set of profiles But testing and holding so far at the weekly profile and its key level today from a closing standpoint is going to be 1877 mixture 1873 30 if there's a close below that That says there's an a to b equal cd to the downside And that's where gold would then target the case of silver silver has a TD 9 count bottom It has wait a minute. Let me just take a look here. Yeah, it does. It's got a TD 9 count bottom Which occurred at TD 9 count breakout support, which was at 22 20. You also have a new profile So there's a bunch of support 22 20 for silver 23 32 Prices trading right now at 22 44 So a bunch of supporting for silver silver should really be able to target the 23 13 ish level That's it's also there and change on it's not shown right here But that is where price should target go down to the bottom panel now And again just a quick overview of what the markets are communicating to us these these instruments out here And the newsletter subscribers receive this each day Once we crude I was taking on resistance. That's its TD 9 count breakdown level and that's at 110 22 We're at 110 29 right now a close today above 110 22 Would be another bullish sign out there and suggest higher price probably back to the 120 level natural gas Which has been on a tear should continue to tear to the upside But maybe only for another day or so or maybe not at all today is going to become bar number 8 of a TD 9 count I'm not shown here as a road's momentum indicator signal if we were to get a bearish reversal candle today Then that would confirm a road's momentum indicator top But there's a possibility that we get a TD 9 count top that forms between today and Tuesday of next week So just be careful just a short-term top and it may it may fail quite frankly may not form We'll see well, it's likely gonna form And then let's go to the 30 year Treasury out here 30 year Treasury I now have that so all these charts are their daily time frame with the exception of the 30 year Treasury And that's because price is trading below all levels of support out here And that suggests an a to b equal CD to the downside now And this pattern here, and I'll just simply expand this chart out Well, I guess we're gonna have to draw that a to b equal CD pattern in here again So no problem So let me get that going and the reason I want to expand this out and show this to you is that that first a to b equal CD price projection is not likely the final target for the 30 year Treasury So the one-to-one level would get us down to one thirty one twenty two So there's two reasons to suggest That a price is gonna make more than a one-to-one move to the downside The first reason is the b to c leg retracement. You'll see on my screen here. It reads forty five point one three That was a retracement level so a little bit more than a point three a two less than fifty percent less than a point six one eight Retracement says it's got a lot of power agenda, but should do more than the one-to-one The second thing is the a to b leg We have that drawn in here We're using that exact same angle for the c to d leg and notice how price is on the strong side The strong side would be the left side tells you it's moving down faster than it did on that a to b leg So that's another indication that and then I'm not talking about in this a weekly chart We're looking at so I'm not talking about interday moves daily moves out here Just giving you the bigger picture right now and that bigger picture is certainly one thirty one twenty two But more likely a move down to one twenty one seventy one and all this selling that we see here in the third-year Treasury Yes, some because of certainly the Fed raising interest rates out here But a lot of it could just simply be China Trying to really reduce its exposure to the US out there So that's the summary of what's going on inside these markets. We get back from this breakout here I'll see if there's any questions that have come in by email or inside the Tigers then if there are we'll get to those Otherwise, we'll just start I got Picking away at the charts one by one. It's certainly taking a look at the possibility of a bouncer bottom and What the parameters would be we'll be right back Steve Rhodes started his trading career as a student almost 20 years ago and the student has now become the master Steve won the prestigious Timer of the year award in 2018 and barely missed that mark again in 2019 finishing at number two for the year an amazing accomplishment Steve Rhodes is Committed to sharing his techniques and knowledge with anyone who wants to learn and he shares his vast amount of trading knowledge Every day in his mastering probability newsletter Steve's award-winning newsletter Mastering probability is delivered every trading day with updates throughout the afternoon sign up for Steve's market newsletter Mastering probability and you'll receive access to seven of Steve's educational webinars Absolutely free at TFNN all our newsletters come with a 30-day money-back guarantee So you have absolutely nothing to worry about visit TFNN.com and try mastering probability 30 days risk-free today TFNN educating investors Are you 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 727-329-8322 Or email us at Tiger at TFNN.com. That's 727-329-8322 Call us today 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 in 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 tick 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 Toll free at 1-877-927-6648 internationally at 727-873-7618 Welcome back folks. Let's go to our first question. It's actually the only question that's coming so far And this is from Hector and Patti And Hector writes in happy fabulous Frosty fosters Friday back at you a little bit too early for a brusky But god not not going to be too early come 435 o'clock, let's say it is Friday after all right and stevie didn't do any Senko de Mayo celebration out there. That's a pity But Hector writes and you guys don't really care about that Hector writes and he says the Actually next week leaves all you all resistance Support levels, please. We'll be listening while driving north perfect A piway 101 southern california. That sounds great. That is a beautiful drive. I tell you that the drive I like So it's it's well the drive I like is coming down from san francisco to pebble beach down pacific coast highway there That that is a that's about as great of a drive And then it's better to go actually beyond pebble beach But just a just a beautiful drive. So okay. We'll keep your eyes on the road But with regard to the xle you ask first of all the weekly So the weekly acid and change line is at 78 73 Let's just do an overview of the energy sector out here So from a monthly standpoint, we are in bar number eight We know that td nine count tops can form a bars eight nine or the bar following nine So how do we know whether the monthly is going to form that bar or not? Well, we look to the weekly and the daily for additional information the weekly Shows that it has a confirmed roadsman to indicator top That pattern would get negated if there is a close above the high from the week of april What was that april 22nd that high hector and patty is 81 51 He closed above 81 51 and negates that pattern and says that we had higher now Price is above that green acid and change line. So even though it has a topping signal It's message to you and I is really neutral at this stage And that's the same thing for the daily timeframe for the energy sector the energy sector yesterday generated a bearish dark cloud cover candle And it did that with the roadsman to indicator signal that was triggered So that's a suggestion that price wants to head lower. However fortunate for you and I We have a couple of levels of support resistance for us to track to understand whether or not key levels have been broken In the case of the xle the answer is no the key level was tested I'm not saying that it can't be broken. I'm saying it has not been broken and not until it's broken Will we get any kind of a message that says that this is there's traction here with regard to yesterday's confirmed roadsman to indicator top And that means and that requires a close below its oscillator and change line That is currently printing out a daily timeframe at 7909 Even if price closed below that it's still not going to really generate a bearish directional signal message Until price can close below the top of its daily profile 77 31 So we may see some paper pullback. I know in the in the uh Pre-market price is trading higher than where it closed yesterday. I think we're around 81 44. We closed 80 52 out there So what I'd be watching for on any move lower tectron patty Would be first 79 oh nine and then finally 77 31 You get into the 77 31 level then that roadsman to indicator signal is taking hold and what suggests a test of Support down to 72 oh five. You could even get to 67 26 I am not saying and that's where it's headed to now Just something that we have to be careful about be careful because of the monthly potential td9 count top that's out there But it doesn't that I don't think that really is a big factor at the moment. It's the weekly Uh, that's got that roadsman to indicator tops of the weekly and the daily are really all that we need to focus in on I don't see anything else out here to assist us So we will just simply move on the move on is to the xlf Remember that hector and patty asked about the xl e and the xlf. So we're gonna let these I sure hope I had those charts up I did not son of a gun How did steve do that? Hmm. Okay. Well That's really great out there So, uh, my apology to everybody who was listening because I was talking one thing and showing a different set of charts At least they had the xl e charts up there But what we'll do is let's switch over to the xlf and I'll I'll get those xl e charts back up on our screen Just so that you can kind of uh Put two and two together. So here's the xlf set of charts out there First hector and patty asked about the oscillator and change line for the xlf. It's 37 63 Now the xlf nowhere near as bullish as the xl e the energy sector In the case out of monthly basis, you have a confirmed rogement and indicator top With a consolidation with inside its profile key level of support here for the xlf on a monthly basis 33 36 Closed below that would suggest a target of 22 49 Now before price would get down to 22 49 It would have to deal with 30 99 30 99 is a td9 count breakout level for the weekly time frame The weekly has a confirmed rogement and indicator top and with price below the bottom of its weekly profile That is suggesting it wants to target the 30 99 level if we take a look at the daily time frame though the daily time frame Generated a by the d-point pattern. I don't have an a to b equal cd drawn in here But you can visually see it there's several a to b equal cd patterns And it was the uh bull separation candle that formed on may the third That created that by the d-point I even see a three drive to a bottom pattern out here on a daily basis So the key a level of support now is going to be the low of the week The low of the week was 33 84 if price closed below that then these bottom patterns That we're taking a look at will have failed The xlf let me just see where is this trading here in the pre-market xlf close that 35 34 Oh, it's uh, uh or 34 99 34 99 and it's trading right now at 34 93. So just down a few pennies not that big of a deal out there, but uh Let me go back and take one look at something here xlf Just want to make sure about the bottom of its daily profile Yeah, price is trading below the bottom of its daily profile out there, which is at 35 44 So that's a level that if this is bullish From the daily standpoint hector and patty you really want to see a close above that 35 34 level That would then suggest to move to 36 72. So the xlf uh has the confusing signals out here Consolidation on the monthly after a top the weekly saying I want lower price the daily says i'm going to struggle to make higher price So for the weekly to win out you just need to see a close below this week's low out there That would be your signal that price set into the 30 99 area So hope that helps you out Let me do this here Let me just get these charts fired back up for the xle and that way at least the dialogue that I had with myself apparently You'll be able to at least see the charts for the energy sector and what we were taking a look at so Here they're getting populated. You're going to see the eight bar where bar number eight doesn't show bar number eight out there and uh Um, so on the monthly basis, you can see the roads meant to mitigate our top You see the dark cloud here's the daily time frame chart out here I'll just simply expand this out You see that nice roads meant to mitigate our topping signal the price testing to holding that green oscillator and change line So an oscillator and change line out there is just simply identify the difference between the 39 and 19 period Exponential moving average out here And uh and that creates a price oscillator and when that price oscillator is above zero My line is green when it's below zero the line is red When price is above a green line it tells us we have a rising price oscillator above zero That is a bullish condition for a market until proven otherwise And that's really why we suggested that for the daily time frame that its signal is neutral as we speak So hope that helps you out hector and patty uh safe driving and enjoy that trip when we get back for this break We're going to go take a look at that ticker symbol L. A. N. D. That's for kreg e And he says or ask what do the charts say about the longer term position? We're going to go find out Are you looking for a way to consistently add winning trades to your portfolio? 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It is 8 30 in the morning jobs report is out. So we're taking a look at the Uh reaction at least the initial reaction inside the futures markets out here So if you're listening live at 130, thanks so much for doing that That we'll be back to regular programming hours on monday in the meantime if you're listening live We'd love to hear from you and you give us call it 877-927-6648 You can always email me and do it quick low Steve at tfnn.com and inside that subject heading please put radio show questions So right now we're seeing the reaction here if you're watching us on tiger tv We've seen the equity futures go from negative to positive right now You've got the dow futures up 41 30 30 points or so, but it's going to be bouncing around a bit here Our goal is up 12 bucks now silver up 13 pennies lights. We crude is up a buck 40 trade out at 109 65 and the 30 year treasury up 15 ticks trained out at 1803 so we'll come back to these You know, let's let this let this trade here for a bit and then we'll come back and take a look at that So in the meantime, let's go answer craig ease question about what is the long-term position in lend look like so by long term i'm going to assume That what craig is referring to is the monthly time frame And what the monthly time frame did last month was it generated a bearish shooting star candle Now that itself craig is not a big deal. It's only a big deal if you get a bearish Or bullish reversal candle at the completion of a pattern. Well in this instance here with regard to land that was a One to 1.272 a to b equal cd. So from the long-term standpoint, it says time out That's what the monthly chart shows us the weekly chart that doesn't show on this screen But you'll see it momentarily As as the monthly was making its high and the weekly was doing the same thing that was from the week of two weeks ago We that began april 18th That was bar number nine of a td9 count It also was a bearish shooting star candle And so you have one on the monthly you had one on the weekly and that confirmed erodesment to mindicator top And also an a to b equal cd patterns now do having multiple topping patterns make it more topping No, not really But here's what we do know you've got topping patterns out there and the weekly chart is suggesting that price will pull back to support Which is 33 23 Now I don't know whether that level will hold or not But so we've gone from the longer term the monthly says okay time out But by the way its support level is 31 55. You'll see that when I turn on the eight panel charts out there That's its oscillator and changeline and then you've got support at the 33 23 level Which was the bottom of the weekly profile now the daily time frame Shows us what well the daily time frame actually has erodesment to mindicator top But this is the bar you're going to be paying attention to greg It is the bar from a second and the low there is 35 11 The reason that you're focused on that is that was a td9 count That was the low of the td9 count pattern that did complete And if you do see a close below 35 11 That only will set up an a to b equal cd outside on the daily time frame We'll tell you about a strong moment to move with price likely targeting 31 41 So now I'll just simply switch over to those white background screens out here So we can take just a quick peek at it And there you go So you can see the bear shooting star on the monthly time frame the td9 count on the weekly chart out here You've got a nice road's meant to mindicator top on the daily time frame chart. Here's your bar number eight There's your 31 41 price target out there. So Right now the key with regard to downside action Yeah, excuse me. Sorry about that We might have a second sneeze out there Sorry I wonder what that means And so uh 35 11 is going to be your key number if you see a close below that Then what you're seeing from the weekly and the monthly time frame charts kreg are going to just be confirmed that There's still lower prices to come. Okay, perfect So we're through all that there was a question inside the tiger's den to look at the us dollar So let's go take a look at the us dollar index then we'll go take a look what's going on inside the equity future contracts out there We'll look at the intraday charts So on and so forth. So with regard to the dollar, let me see what screen I'm on So I got to get over to the black background screens first Give me a moment here We'll get that as powered up and now we just need to go find where steve's dollar chart out here The dollar chart is right here. So what the us dollar did was it created a td9 count top? And I don't recall who asked for this What it created a td9 count top it does that on april the 28th And so that resistance level is 103 95. There's a new profile that formed yesterday Not surprising 103 95 is its resistance level if the us dollar index were to close above that Then that tells about a strong moment to move to the upside. Otherwise right now We have a consolidation with inside its daily profile, which is between 102 79 and 103 95 We can see a hundred percent move a move on a weekly basis with price getting back to the swing points from back in march of 2020 So a reason to say okay a pause would make sense here But there's an a to b equal cd pattern in the upside in both the monthly and the quarterly time frame It's over time 109 58 109 47. I'm not sure why I've got different prices out there, but I do But in that range is where the us dollar index is likely headed We'll know that it's headed in that area if we see it close above 103 95 If you see two consecutive closes below 102 79, then that's going to tell us about a pullback a further retracement out there That's not what we have as we speak. So that is your us dollar index now Let's go see what's going on in the markets out here. Let's go take a look at what do we want to take a look at? Let's do this Oh, well, hold on a second here. Maybe before we do that we've got oh, we've got brent in martinis california brent Thanks for waking up so early and joining us and thank you for holding. How are you this morning? I'm doing great steve. Good morning to you Thank you. And how can I help you on this early friday a.m? It sound like you're just about to delve into it That was just to take a look at the different equity feature contracts. I mean here. We are friday One of my favorite days of trade. We've had a lot of volatility in the market. So I think there's potential today to Be some serious day trading. I just wanted to get your thoughts on where we're at where we could potentially go throughout the day So what what which way are you leaning and then I can uh I'm looking to look for a bounce and then consider what we have with the vixx yesterday and there's probably going to be a lot of back and forth motion, but I just that's you know, generally what i'm looking to to be more bullish Okay, okay, great. All right, so uh Here what we're going to do is we're going to put on the 30-minute time frame charts for each of the equity future contracts And so first folks up rent was mentioning Uh, the spot volatility yesterday, which had a one day rate of change above plus 10 I think it might have been 23 or percent or so. It doesn't matter whether it's 10.01 or it's 50 You have a one day rate of change above plus 10 percent You typically see a bounce or bottom that forms inside the futures market at least overnight Well as we came into the close yesterday Each of the equity future contracts form roadsman to indicator signals nice big old Bullish and golfing candles for all for the equity future contract What has not transpired just yet Brent is levels of resistance that have been taken out what transpired after that Confirmed roadsman to indicator bottom has been a sideways move in between profiles So on the 30-minute basis Brent if price is able to close above the top of its current profile Which is priced at 41 55 That would then lean towards the idea that price should continue to move higher In the case of the nq the number to be watching is 12 939 In the case of the dow the number to be watching is 33 0 51 And in the case the russell 2000 the top of its profile is currently under attack as we speak The others are not under attack just yet in the level for the russell 2000s 18 74 20 We're trading 18 74 70 as we speak right now. So those are the levels. Hey brett, do me a favor We're going to a break here Hold on we'll come back and I want to answer all your questions about the equity future contracts Steve roge with brett and martinus california. We'll be 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 new subscribers get a 30-day money back guarantee So you have nothing to lose every monday morning. 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So we're on the line with brent and martini's california So brent any questions about what we took a look at just before we went to that break the 30 minute church the profile levels Um, and I gave you the profile levels to the top. We also need to be concerned about profile levels to the bottom But so for any questions so far Yeah, I know you gave some of those at the very beginning of the show for a couple of them So I appreciate that I appreciate that and that's that's what i'm looking for Okay, so really even though, you know, I did say we we should be concerned about the profile levels To the bottom It's really going to be yesterday's low that we want to focus in on because that was the bullish reversal candle Of the rose went to indicator signal. So that really is a support level So in the case of the e s mini folks the price were to close below 40 99 25 that tells us to expect an anticipate lower price Inside the nq the level that needs to be closed below is 12 705 25 In the case of the dow equity future contract the area that you're looking at is 32 589 and inside the russell 2000 the downside the level that you're looking at would be 18 44 10 the reason to give you those figures folks is if price pulls back to those areas That could be a buying area could be a buying area because price would be back at support It would be an easy trade out there But resistance still has to fail and those are the currently the tops of those profiles now brent This is courtesy of john or z inside the tiger's den and i'll pass this on to you And that's with regard to the nq So in the case of the nq if we were to close above 12 9 30 12 9 40 That's the top of its profile Then the question is where would price likely run to? In wala i believe we have your answer or what could be your answer And that is i'm going to put up a different chart here It's going to be the two-hour time frame chart for the nq if john had posted this in the den So i went ahead and created that chart and that chart shows us that the 200 period Exponential moving average has acted as resistance every time that's been tested since april the sixth Today is may the sixth So that's pretty powerful and so right now that level print is printing at 13 4 60 Of course, that's going to go up and down as price moves up and down But if you were to get a rally that would be a key level to be observing and if price were to take that out It would be really important, but that's likely where price would head to so i want to say thanks to john For sharing that information. I'm not saying that's where price is headed to i'm saying that if price does clear resistance And in the nq the resistance level was the 30 minute time frame. We were looking at folks and that was at 12 9 40 Here as we take a look at the two-hour time frame chart print the key level that price would have to clear is 13 040 75 that's the top of the profile for its 120 minute time frame How does that uh sound? That's all great stuff and thank john for me, which you already have but um, did you Kind of open things up a bit more and just look at some of the different shorter term time frames Is that i mean do you have any kind of account anything that's indicating some kind of a bottom here where things are Okay, so let's go to uh the answer to your question is can we look at some shorter term time frame charts? And the answer is yes, uh, steve just has to get to it So give us a moment here We're going to move over and it's the nq's that i actually have up on the screen right now So we'll just stick with those so the shortest time frame chart that i have Is a five minute chart out here and that five minute chart isn't really providing us with a Ton of information as i take a look at it on a pullback retracement 12809 is what it says should be support For the 10 minute chart I don't have any kind of a signal out here to assist us as 12 794 should be support the 15 minute chart shows that The bounce it took place After the jobs number was released ran right up to resistance, which was its td9 count breakdown level So this is an important chart to be paying attention to because 12 889 50 is a real key level of support On that time frame chart bread. So that's a 15 minute chart I'd note that on your pad of paper as we reduce this take a look at the 30 minute chart nothing new there 60 minute chart as a erosement to indicator bottom pattern that did form So and we have that already on the 30 minute chart So that has not been taken out and the 60 minute chart is uh just formed one And it's actually been formed because there was a bullish hammer candle that took place when the uh Market closed when the market when the bar closed at 8 a.m. This morning So this is giving us a suggestion that it too wants the bottom the 60 minute resistance level Brent is 12 870 Your price closes above that that's going to be a signal of a move higher out there The 120 minute chart I don't have a bottom signal, but we can also see that right now So in order for price to get up to that 13 459 is 60 area out there What we'd be looking for on the 120 minute chart So this is helpful to us is price must close above that red oscillator and change line So the first pit first pit stop on any type of rally is going to be that red oscillator change line Which is currently printed at 12 880 If that unfolds then you get that move to possibly 130 40 and above that the 13 460 level So that's what I see on the nq charts out here Nothing on the five-hour time frame chart other than price retesting a level of support Which was created by erodes meant to mitigate or signal it at us Looks like five five five p.m Going in on a May the second Brent any questions about these charts or any of the data that we've shared so far No, that was great. Steve. I really appreciate it. Excuse me. No, that's what I was hoping to have you take a look at and Yeah, which which of the equity. Thank you. Yeah, which of the equity futures charts. Are you thinking of trading? Is there you're leaning towards one or the other? I'm honestly probably going to be doing something in individual equities, but I of course have to be looking at the different equity markets to give me the kind of the cue is to If I want to go Into one of those equities and that would probably of course if it's something A nasdaq stock that's going to be looking at if it's something, you know, just there's something that around, you know multiple You know in s and p and the Nasdaq it just depends on which we're looking at but that's going to be my cue is yeah, that's the equity futures Okay, perfect. Perfect. Brent. Is there anything else I can do for you? That's it. Steve. Thank you so much. Have yourself a great day a great weekend and I heard you're talking about that coastal drive. I go down to big sir is very You know pretty I like up the other direction Mendocino that area up there Sonoma coast is Pretty awesome as well. So just have yourself a great weekend and again. Thanks so much for your help You bet and thanks so much for joining us so early. That was Brent in Martinez, California 548 in the morning out there. You gotta love it. Certainly I do Let's go to our next question out here. This one coming in from the tigers den And this is a take look at a ticker symbol called bg So, let me see which charts I'm on I'm on those charts here So we're going to let that populate and then we will go figure out what bg is doing bg is Bunch limited bungee limited and so as these charts here are popular And let me explain that right now yesterday was a close below the bottom of its daily profile So it's broken through a key level of support and that is 1 16 59 a second consecutive close below that's going to suggest lower price You might say lower price to where that lower price would then be the center of its weekly profile Which is 1 10 59 and the price were to close below that then we're looking to move to between 102 96 to 105 50 Back to let's go over to the monthly chart. So on the monthly chart It looks like there's an a to b equal cd to the upside that may have completed I'm going to do that Pattern draw that pattern in on my black background charts just to confirm that now As I made it exactly the a to b equal cd target should get us to the 135 11 The reason that I wanted to look at that folks was because Last month's bearish shooting star candle But the a to b it just has not completed that pattern completed that pattern will take us back to its highs from back in 2008 So that's where it's targeting and that's in the 135 area 135 11 is the exact a to b equal cd So it does look like a bg wants to target that longer term Let's go take a look at the weekly chart a confirmed td9 count top Roads minted mitigator top and priced below that oscillator and change lines So price really may go target that 102 96 to 1 10 59 level and you can see 1 10 58 Is its daily td9 count breakout support bg is likely headed there 1 10 58 We'll be right back The reality is that navigating financial markets can be risky Markets can be chaotic and difficult to understand Having the latest market advice can help you turn this chaos into a key for creating winning trades At tfnn we understand that it can be hard to find reliable market news That's why each of our market experts offers their very own market newsletter They must have tool for every trader out there striving to find an edge in today's markets Tfnn newsletters cover every aspect of the markets so you can analyze the market before you trade Try any of our great newsletters risk-free with our 30-day money back guarantee Just visit the newsletters tab on the front page of tfnn.com Tfnn educating investors 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 metals sector as well as the markets that move gold Which is the currency and bond markets new subscribers get a 30-day money back guarantee So you have nothing to lose every monday morning. 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We've got the uh, uh, so by the way, if you're all listening and thanks so much for doing So we're recording this show. It's 8 54 in the morning. We'll be back to normal programming on Monday Right now you've had the job numbers come out We've seen some fluctuation inside the uh, well really inside all the futures out here Whether it's metals or whether it's the equity futures currently the dow equity futures are down 140 s and p is off 23 nasdaq is down 106 russells off 7 Gold is up 2 bucks silvers off 3 pennies lights. We crude is trading out at 109 33 That's up a buck 7 to 30 your treasury down 18 takes 136 uh 25 is its print So what to expect to anticipate during the day? Look, we had a one day rate of change in spot volatility. It's above Plus 10 where that typically results in and it still has a possibility today because we have not taken out Key levels of resistance. What that generates is a uh, these blue little bars out there We typically see a bouncer bottom. So that's still what we're going to anticipate We anticipate that unless we take out the yesterday's lows and then and then clearly that would say that the Depounce has been delayed if we take a look at the es many we went through in detail The uh shorter term time frame charts with brent for the nq if we take a look at the es many out here The 15 minute chart shows the same thing Which is that on that spike higher where price foam resistance was 41 49 50 That was its td9 count breakdown level That's the first area to the upside that you're going to be paying attention to to the downside It's really going to be below yesterday's low out there that you're looking for so that's been established The 30 minute chart. It's the 41 55 level that if price can close above says we have a further rally You've got a bottom several bottom patterns on the 60 minute time frame chart So 41 43 is its resistance level the 120 minute chart It's going to be the oscillator and change line, which is 41 47 out there And that's basically with the five hour chart the five hour chart is saying about 41 58 So those are all your resistance zones out there if price does rally We'll thank brent to uh not brent. Well, we'll thank brent for asking a question and then uh john In the tiger's den for alerting us to the fact that at least in the case of the nq And that's what I would be doing. I would just simply be looking at the nq out here Is that uh any significant rally should you get one should find resistance at that 200 period exponential moving average that's currently printing at 13 459 folks day two and tom you'll bride this up next if you're listening at nine o'clock or your favorite polar bear if it's 2 p.m Have a fantastic weekend, and we'll see you online. Take care folks