 The following is a presentation of TFNN The Traders Edge with Steve Rhodes All now toll-free at 1-877-927-6648 or internationally at 727-873-7618 The Traders Edge Now Steve Rhodes Good morning folks. Welcome to the May 2nd, the terrific Tuesday edition of today's Traders Edge show I'm your host DB 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. Yeah, let's make sure we have an extraordinary one and the easiest way to do that So always remember that life is happening for us not to us That's right When you and I make that one little two-by-four shift means we can find the gift in every set of Circumstance that life is gonna toss at us 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 11 o'clock in the morning. I do want you to know I'm absolutely grateful for your presence here But even more important than that and that's this during this next 53 minutes I'm here to serve you so feel free to pick up that phone 877-927-6648 that's what you call in at if you have a question But you can't call in you can always send me an email send it off early and send it to Steve at tfn.com And inside the subject heading please put radio show question Of course if you're inside our Tigers dead well than any in every ping will do So let's go ahead and get this show started on terrific Tuesday Of course, this is tiger financial news network. I'm Steve Rhodes Welcome to the show a sea of red a bloodbath out there all the US set indices to the downside All the sectors with inside the S&P 500 to the downside percentage wise It's the Russell that's leading the charge down about 3% followed by the trainees down about two and a half percent out there So the dows off 550 the S&P 71 Nasdaq 100 174 rustles down 51 gold is up 26 Bucks silver's up 22 cents lights we crude is off 3 bucks and change natural gas is back 9 cents a 30 Treasury for now 131 14 now leading the charge dollar wise the upside you've got micro strategy 6% move nearly 19 bucks woodward ink up 12 percent or 12 bucks broad ridge financial up 7 bucks 5 percent Molson cores I'll take one of those up 10 percent nearly 6 dollars there and top financial group 11 percent 5 dollar move to the downside it's credit acceptance Corp. The old GMAC off 76 bucks 15 percent Ricardo Libre down 43 bucks renapped percent zebra technologies 32 bucks 11 percent Broadcom 31 bucks 5 percent black rock 4 percent. That's a $26 move to the downside But let's first begin. Where do we want to begin to tell where we're going to begin? We're going to begin by switching panels. Let me get to the set of charts that I want to share with you And what and of course is going to be dependent upon what we see at day's end These are not the charts the charts right now are going to be this set of charts the daily time frame charts for the for equity future Contracts so we can see the a to b equal CD pattern inside the ES mini It did form a sell the d-point pattern back here on April 12th I'm going to form that bear a shooting star candle that got negated on April 17 So what's needed now or what was needed now for the S&P or for the ES mini was a another bearish reversal candle Well, we now have that three river evening star candle formation, which will get as long as price closes I would say below forty one sixty one don't quote me on the exact number But right around there would generate a three river evening star and then if price close them below the bottom of its daily profile We've got to go find some other places where price might be headed back to so we won't do that this second Right now price is testing that key level of support, which is the bottom of that daily profile So watch at day's end. It's the forty one eighteen area, so it's back at support It's a slightly bullish structured profile out there We take a look at the end queue the end queue also needs a bearish reversal candle And then it would confirm a roadsman to mitigate our top now in the case of the end queue It's still trading with inside its profile So its level of support on a further move lower will be between twelve nine oh six and thirteen oh thirteen If we take a look at the Dow equity future contract, I can draw in an A to B equal CD pattern here It's an extension for sure might be one to two one to two point six one eight But we do have that or appears We will have that three river evening star bearish reversal candle confirm that top now in the case of the Dow equity future contract It is trading below the bottom of its daily profile. So it's next Price target is likely around four as likely around thirty three two twenty eight That's in the a dow equity future contract. That would be the bottom of its weekly profile By the way, the bottom of the weekly pro are the center I should say of the weekly profile for the ES mini would be at about forty eighty one But I've got to flip back to the other charts just so I could show you the trend line is out there Something else that you should draw on your charts for the for the ES mini with regard to the Russell 2000 The Russell 2000 is likely coming back and testing this hammer candle that formed that created that roadsman to mitigate her bottom That was on March 24th out there. So the key low is 1703 if you close below 1703 The Russell 2000 has got some major problems. Not that it might not anyways But that would be the signal to you and I now if we switch back. Well, let's do this Yeah, I'm gonna switch back and forth here not to make you dizzy and not to make it too hard on myself But I think I need to kind of take this in somewhat of an order So here back to the yesterday do want to show you that trend line It's easy for you to draw on your system We're just simply using the low out here From March the 13th, and then we're using the next low from April the 26th So that could be another price target for the ES mini if that doesn't contain price or maybe you see an intraday Intercession it's because the weekly daily chart we're looking at push down to that forty eighty one level That's that center of a bear of a bullish structured weekly profile inside the ES mini What else is out here to share with you? Really not much that I can see so now let's go back to the white background screens There's a new set of charts that I put together For everyone because actually and when I put it together I was like oh, maybe that's what's going on here So let's get to those charts and those are the these are the two three four bar knee jerk reaction charts So where did I put those? Knee jerk reaction there we go So we're gonna have the daily weekly and monthly for just our primary indices It's always able to I get done so along the top row you've got the s&p 500 You got daily weekly monthly you got below that the Nasdaq 100 and then they have the Dow Jones below that and then down the very right hand panel And the column is the Russell for the daily weekly and monthly so I'm gonna key in on the s&p 500 But here now you at least see the dance steps from a daily a weekly and a monthly time frame But what those are telling you when you take a look at those numbers that is telling you consecutive lower closes or consecutive Higher closes out there. So that's all that Stevie is taking a look at out here Now what I notice most now about the fact that we are in the the possibility exists They were gonna get that bearish reversal candle confirming a top inside the ES many The s&p 500 John and the Tiger's Den was kind enough to Notate that the s&p had achieved wave number seven as long as we don't get a higher close today one of Basel Chapman's techniques out there. I encourage you to to learn those techniques for sure So so we do have tops in the cash industry and now potentially a top inside from a daily standpoint inside the The equity future contract, but the monthly chart I'll just simply expand it out so everybody's looking at the exact same thing When I noticed what popped out at me when I drew these when I started developing these was oh, wow We just had a two consecutive month rally. Why is that important? Well short of being in just a full-out bullish mode. Okay, which we're not in Coming off of for example the 2020 or the two thought here. This is weekly chart There's coming off the 2009 low out here. We're not in that stage at this moment You can see last time we had two consecutive moves up on a monthly basis to the upside that was November What happened in December? We saw a move lower. So what do you think is going to happen now? I think we could have a one to two month move lower inside the s&p 500 Steve Rhodes with TFN We'll be right back Currencies commodities and bond markets are as important as ever right now with how they're driving the volatility in equity markets across the globe Which is why it's a great time to try out Teddy keg stats tiger forex report Teddy keg stat breaks down the forex markets every Monday using his 30 plus years of experience as a trading veteran Of futures forex stocks and options Teddy releases his weekly tiger forex report every Monday morning with coverage of all the major currency Pairs including the dollar index the euro dollar pound dollar dollar Swiss dollar yen as well as many more And he also has weekly coverage of the crude oil market and the 30-year t-bonds as they both influence forex markets Tremendously when you sign up for the tiger forex report you also gain instant access to Teddy 60 minute webinar archive He just hosted forex strategies and fundamentals What is behind the tiger forex report for all the details and to start your 30-day tiger forex report subscription today? Visit the front page of TFNN comm TFNN educating investors You might think that if you want to be successful at trading in the stock market You're going to need a crystal ball after all it's impossible to predict the future right like any endeavor in life Before you decide it's impossible get some advice from the experts You might find that it's not so impossible after all for daily market overviews that give you direction on the key indices selective stocks and commodities subscribe to the opening call newsletter at TFNN comm the opening call newsletter is written by Basil Chapman Creator of the trading methodology known as the Chapman wave the Chapman wave up down sequence gives you an edge in Identifying price turns finding the peaks and valleys in stock prices get the opening call newsletter by Basil Chapman and your inbox every day First time subscribers also get a 30-day money back guarantee if you're not satisfied Let us know and you'll get a full refund within 30 days of signing up TFNN comm educating investors 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 it 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 comm and try mastering probability 30 days risk-free today TFNN educating investors toll free at 1-877-927-6648 Internationally at 727-873-7618 Welcome back folks. So I left the screen here with the daily weekly monthly cash-inducing Charts out here along with their Consecutive higher closed and consecutive lower closes. So if you take a look at the S&P We had two consecutive months the upside odds favorite Get one or two months to the downside in the case of the doll You've got the exact same pattern and the Russell's got its mind of its own We take a look at the monthly time frame. So I'm just looking down this entire column out here So now with today's potential reversal candle seems like they're likely to hold we should be in store At least at this stage here for a for a lower close during the month of May And maybe it's May and into June All right So let's get to a couple of questions only a couple of questions have come in so far One was a take a look at gold. So we'll do that and the other is to take a look at B Where I see where did that go BB AI? So let's go take a look at gold charts. Let me turn these off just simply to Free up some resources space out here So we'll get those turned off and they'll come back and go take a look at the Goldilocks. So give me a second here We'll get to the gold charts Come on, baby. There you go. So now let's take a look at the gold This is for Dano inside the Tigers I think Dano just asked me if I could go ahead and review gold So here if we take a look what gold is doing on the daily timeframe Dano It's running right into potential resistance, which is its green oscillator and change line That's that 2022 prices trade right now at 2020 a price can close above that green oscillator and change line With that should then indicate to us as price will go target the top of that profile Now do remember that gold does have a daily roadsman to mitigate her top out there So only a close above the high of that pattern the high of that pattern is at 2063 40 with that pattern getting negated and suggests that we are in full breakout mode If we take a look at the weekly time frame chart You can see the weekly time frame chart has an A to B equal CD pattern price projection up around the 21 30 ish type area out There, but what price is also dealing here with is a profile resistance level. That's a 20 39 So we have a new profile resistance and support level support by the way down at 1945 50 That's really not of concern to us at the moment. So for gold 2039 is a key level out there But the real key level is going to be the top of that roadsmen to mitigate a resistance level of 20 63 40 You get about 20 63 40 and then it is off to the race with regard to the 30 minute time frame chart out here No topping signal or anything. It did take out a TD 9 count top So that suggests higher price we're trading above profile levels Daniel on the 60 minute time frame the 120 minute time frame the 240 minute time frame the 5 hour time frame now These larger time frames these bars will not complete for example the 2 hour the 5 hour charts not going to complete until 2 p.m On 2 p.m for the 5 hour the 4 hours at 2 p.m. The 2 hours should be noon. I believe yeah noon So another 40 or 39 minutes out here. So as long as price close above 2009 50 then price will be trading above resistance level So what I see out here we take a look at the intraday charts is I see only bullish Signals so it's not those charts that are really painting the picture for you and I right now Dano it is really that daily time frame chart because that's the resistance level it's up in easy for you and I to Identify and so it's deal with that 20 22 area of that oscillator unchanged line So you close above that and really as we take a look at price here what gold is up What one and four tenths percent? So as is our a good man in the tiger's den John Z would tell us say if you can get past 1% Odds favor you go to 2% well, that's the case out there. I'm just I'm not speaking for them We should see price continue to move higher and again I'm not seeing any intraday time frame signals that suggest otherwise now if you take a look at gold on A weekly basis out here So this is kind of we take a look at the at the dance steps The consecutive move dance steps we got to come up with a name for it You can see that what we did was we had a two bar move to the downside that was into April the 21st and now what do we have going on a two bar move at least to the upside or so it would appear out There maybe it's going to be extended so beyond that but what we'll do with regard to gold is really pay attention to those Resistance levels Dano that's perhaps the most important thing with regard to analyzing what it's doing at the moment So I hope that that helps you out and I thanks much for your request Dano. No, that was not Dano a Dan Not not Dano, but Dan inside the Tigers then wanted to take a look at let me close these charts out too Just to free up some resources here. So let's get back to our typical three-day Or a daily weekly monthly view Sorry, I've got a number of things open So it's just a tad slower than normal but BB AI is the ticker symbol that we're going to go ahead and type in here BB AI and Let's go see what this is doing. I also want to fire this up on my other charts because I've had this delay And oh it didn't even take what's the deal here? Come on. I got a keyboard issue What? Okay, there we go. All right. So I'm not sure what happened there So we take a look at BB AI trading at about 276 right now. What this is doing Dan You probably already know that it's testing the bottom of its daily profile So that current number for the bottom of the total Let me give you the profile levels the bottom which is supported at 273 The center is at 316 pretty close to being in the center of the profile and resistance at 360 out there There is trend line support if we drew that in so you get a nice TD 9 count bottom But there's the a to b equal CD pattern. I'm not gonna let me just get rid of that line But we can draw in a trend line out here Should be able to draw this in just go like this So that'd be the other area if price closes below 276 Dan That would be at the other area that I would be looking at is price to pull back to that trend line today That number is approximately 260 or thereabouts when we look at the weekly timeframe charge You just got your consolidation with price moving inside. It's a profiles between about 20 and 368 Now that's just the center you close above 368 odds Favorite move to 615 monthly chart not provided us with a ton of information today's pullback makes sense Maybe you get a two-day pullback Dana the reason is because what we had was a two-bar move to the upside again the so-called Texas two-step That's not what I want to call this And but but it is it's a great little tool You can do this yourself. It's certainly easier to do for the daily charts weekly monthly out there versus an interday Chart but very cool. I think it's pretty cool. Maybe you think it's pretty cool, too So that's what I see with regard to bba. I looks like you get maybe a one to two-day pullback I'd say one day pullback if price holds that support level at 276 So thanks much for the request out there. It looks like there was a request to take a look at RF. Oh Let me help do that first with regard to the short trade out or long she went long. I believe right Let me just go over here to the ES mini charts Let me see if it's still active. Yeah, so there's a TD I would have what I would suggest that you take a look at so on the on the 10 minute time frame for the ES mini This did form a TD 9 count bottom and if price closes below that low, that's telling us we're headed lower So it's a pretty easy And on an interday basis out here pretty easy parameters to deal with so you're looking at 4109 a close below 4109 that pattern goes away says we had lower now What price should do is make its way up towards that oscillator and change line at 4129 We've got no profile support here So it's really going to be all about the exhaustion of that TD 9 count and is the market exhausted Or doesn't have more room to run to the downside as we take a look at the 30 minute time frame chart I notice that this is in bar number 8 of a TD 9 count and the 60 minute chart is in bar number 9 of a TD 9 count So let me get those charts fired up on our screen We'll go through that and then we'll go take a look at RF for Roger I'll get that one fired up as well And of course folks I would love to hear from you 877-927-664-8 or Steve at TFNM.com Gold report as a precious metal gold is still king It continues to hold the most effective safe haven and hedging properties across the global major trading hubs of the London OTC market The US futures market and the Shanghai gold exchange The gold report Tom O'Brien publishes his weekly gold report every Monday morning for subscribers Consisting of coverage of the XAU HUI GDX the dollar bonds the South African Rand as well as 25 different mining equities with specific buy-sell recommendations The gold report New subscribers get a 30-day money back guarantee. So you have nothing to risk Subscribe to Tom O'Brien's gold report newsletter now at TFNM.com TFNM has just launched their new trading room the Tigers then hosted at discord TfNM has been educating traders for more than 20 years with live programming hosted by a variety of professional traders during market hours And now they are expanding their reach with the Tigers then available to all Tigers and Tigris's for just $1 for the year There's no catch or added costs when you join our community of traders in the Tigers Then you can look over the shoulders of Tom O'Brien and the other TFNM hosts while they analyze charts during their live Tiger TV programs and join an interactive trading community with hundreds of members exchanging ideas interact with other Tigers and Tigris's as they share trading ideas news analysis and discuss the market action all Trading day even at night and on the weekends the Tigers Dan at discord is accessible on mobile or tablets as well So it's always at your reach to sign up today and become a part of this educational community of traders Just visit the front page of TFNM.com 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 TFNM You'll get advice and guidance from the authority and technical market analysis, and it's not just dry tedious text either TFNM airs live financial content streamed live on TFNM.com and TFNM's YouTube channel with Tiger TV Live every market day from 8 30 a.m. To 4 p.m. Eastern for free Each host is an experienced trader and gives their take on the market while taking calls and questions live from around the world From the moment the market opens until the closing bell sounds Tiger TV has eight different shows with expert hosts to help you Make the right moves with your money watch online at TFNM.com or on TFNM's YouTube channel and become the investor You were born to be TFNM educating investors This segment is brought to you by think or swim for more information Just click the think or swim banner on the front page of TFNM.com Welcome my back folks So we've got the charts here for the equity futures up on our screen a 30 minute time frame that we're looking at I kind of like to have synergy out here synergy with all four showing the exact same Patterns out there sometimes you get it and sometimes you don't and right now as we take a look at it This is part of the sometimes you don't so we are now starting bar number nine of a TD nine count bar number eight Has been the low of the pattern 90% probability this pattern will complete a TD nine count In other words, it still has to form bar number nine in order to do that now The low can come on the bar following bar number nine, so we may not get a 30 minute TD nine count bottom Until 12 30 so we're 11 31 right now this bar number nine completes at noon and at 12 30 You would have your bar following bar number nine We've got that same set of patterns inside the NQ so it could form a bottom between now already and 12 30 so look for that if we do get that bottom signal your price target to the upside Short of new profiles that would form would be the oscillator and change line So in the 30 minute ES that's 41 46 in the 30 minute NQ. That's 13 to 44 Yeah, 224 I should say now in the case of the Adele It is one bar behind the ES and the NQ So that means that it would not likely form a bottom pattern until 1 p.m. So between 12 Between 11 30 between right now Okay, but well really bar number eight's get noon so between noon and one is when you could see a TD nine count bottom inside The doubt the Russell 2000 not playing along so we don't have that pattern at least on the 30 minute time frame charts Let's go take a look at those 60 minute charts out here. Let me close this up We take a look at the 60 minute time frame. I don't think I don't think we had Well, let's not think let's actually show so we are in bar number nine on the ES mini that says that at 12 noon 189 count pattern will confirm and it will complete at one The bottom the low of the pattern can be on that bar following bar number nine The end to not playing along here, but it is trading right now And it did close below 13169 and not only base that was its breakout level So a second close blow that would then provide us with the next target of its next breakout area and that would be at 13 Oh 13 the Dow is in bar number nine of a TD nine count That says that between noon and one you could see a TD nine count bottom again in each instance when we do get these Bottoms the oscillator and change line become the upside price target Unless there are some profiles out there and then that's where the other battles would be now on the Russell 2000 Again not participating not provide us with any kind of a bottom signal price is trading below its breakout area at 1735 So do I have another level? I don't I don't have another level on this that chart out there So the Russell 2000 might be exploring some additional territory So that's why I see when I take a look at those intraday charts now as I was getting those charts ready I just happened to flip over to the Apple chart. So let me close this up We're gonna actually change screens. So this is kind of interesting because it gets a little bit in the way Not that one stock is going to control everything But one stock that does have pretty decent control is most certainly something for us to be aware of and that would be Apple Now the thing that I identified or noticed here in Apple is it is forming a new profile right now and that profile Potentially is forming below price I say potentially because it's forming today and a price closes back and it actually gets below the top of that profile And here's your support level one sixty seven thirty nine if price gets below that we likely see one sixty five oh nine So I think it'd be helpful, especially if you are in the end cues You know to to whichever side to be taken a look at the Apple chart and that new profile again parameters there one sixty three fifty six one sixty five oh nine and then one sixty seven thirty nine being the bottom center and the top of that profile now You can see on the weekly time frame and the monthly time frame price has gotten up to resistance in the case of Apple Trendline resistance on the weekly really trendline resistance so to speak on the monthly chart But also you have profile resistance up at the level of one sixty eight seventy nine So I'd say that watching Apple's performance today Will be helpful or should be helpful now Let's go take a look at RF and oh when we can always fire up the charts for Apple take a look at intraday stuff But let me get to a couple of questions that did come in this one from Roger and Roger wanted me to take a look at RF out there and RF is I apologize. I don't recall that one fine as a regions financial Corp regions financial Corp is What a what a crazy session that this thing had back on that scary day That is March the 20 March the 13th now Price is trading below profiles. We could see that daily trading below weekly profiles trading below monthly profile So each of us know at this stage here. That's not a good sign. That's not a bullish sign out here It is negating or appears to be negating a TD 9 count. Well, no, that was never a TD 9 count bottom I take that back because it was bar number six that made that low So you have a high volume low bar out there and prices below support levels Roger I would have to say that odds favor that what regions financial is communicating to us who wants to go test the low of that session From March the 13th and that's down at 1394 because I've got no other pattern Profile support or anything along those lines to suggest otherwise. So at this stage That is the call if we look at a 30-minute time frame chart here for regions financial We don't see anything out here. You certainly see a to b equal CD patterns But no a bullish reversal can or anything to to give us any kind of reversal So it looks like regions financial wants to continue to head lower and likely go test that swing low So Roger, I hope that helps you out and thanks much for your request S&P inside the Tigers done wanted to take a look at not ST and G you want to take a look at on Oh, when is the ticker symbol? So let's go ahead and get that fired up and on right now What's going on with my system? I'm having keyboard problems. No, I can deal with a lot of things but a keyboard problem. That's a problem What the heck is going on? Okay, and on is what we're taking a look at which is having a decent day I did got I so I can I see where it got up to not on this chart here on this set of charts Right now you got on trade at 78 72 I know on my other screen it says 78 13 and it is trading still above the top of its daily profile that was at 75 06 You cleared that yesterday So that looks pretty good yesterday also confirmed a buy the d-point pattern because we had that gap to the upside If we take a look at the weekly chart, you can see that resistance stands at about 79 17 We're trading at 78 85 it being close above that 79 17 level Well, this can get up to 84 76 the monthly chart looks bullish or its message to us is bullish in that price is trading above It's green oscillator change side those are bullish conditions for on a semiconductor now the daily chart Let's go switch over to the Black background charts. You'll see a set of trend lines and it'll identify exactly what has transpired here today with regard to on Semiconductor so number of trend lines have drawn here These are automated on my system And so one trend line is taking the high from March 23rd And then it's taking the high from April 3rd And if you draw that little trend line, you'll see that today's price high ran into resistance right there beautiful thing So now you know that today's high which is at the top of the trend line It's gonna be real key level of price can close above that at least on a daily time frame. You'll have achieved Overcoming resistance or this will have not you and then that would suggest getting back to its highs from back in February and those highs running all the way up to about 87.55 so summarized on Semiconductor Steve well on the short-term basis, which we didn't talk about on a 30-minute basis What on has done is created a roadsman to indicator top So here's a deal SNP you get a close below 77 59 That's a that's the bow of structured 30-minute profile You get a close below that and you're gonna continue to head lower Steve Rhodes would TF it in we'll be right back You might think that if you want to be successful at trading in the stock market You're going to need a crystal ball after all it's impossible to predict the future, right? Like any endeavor in life before you decide it's impossible get some advice from the experts You might find that it's not so impossible after all for daily market overviews that give you direction on the key indices selective stocks and commodities subscribe to the opening call newsletter at TFNN.com The opening call newsletter is written by Basil Chapman creator of the trading methodology known as the Chapman wave The Chapman wave up down sequence gives you an edge in identifying price turns finding the peaks and valleys and stock prices Get the opening call newsletter by Basil Chapman in your inbox every day first time subscribers Also get a 30-day money back guarantee if you're not satisfied Let us know and you'll get a full refund within 30 days of signing up TFNN.com educating investors Everything in the universe is governed by the Fibonacci sequence this mathematical principle is responsible for everything from the most Aesthetically pleasing artwork to patterns in the stock market to stay on top of stock patterns You can take advantage of sign up for the Fibonacci 24-7 newsletter at TFNN.com when you subscribe You'll get a weekly report from veteran day trader Larry Pezzavento on stocks You need to pay attention to and you can trust Larry's analysis after all He's got 45 years experience as a day trader Larry will also provide daily charts videos and data on the key markets that he's tracking Expect notifications from Larry on market movement You need to act on at any time first-time subscribers also get a 30-day money back guarantee if you're not satisfied Let us know and you'll get a full refund within 30 days of signing up Subscribe to the Fibonacci 24-7 newsletter today TFNN.com educating investors Are China a shares hot or not if you trade China a shares now may be time to take a closer look trade CHAU or CHAD Directions daily CSI 300 China a share bull and bear ETFs China a shares in either direction Visit Direction Investments.com today an investor should consider the investment objectives risks charges and expenses of the direction shares Carefully before investing the prospectus and summary prospectus contain this and other information about direction shares to obtain a prospectus or summary Prospectus, please contact direction shares at 866-476-7523 The prospectus or summary prospectus should be read carefully before investing an investment in the funds is subject to risk Concluding the possible loss of principal the funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor four-side fund services LLC This program is brought to you by Vista Gold traded on the NYSE American and TSX under the symbol VGZ Align, let's go out to California. Let's go to Martinez, California and speak with Brent Brent. Thanks for calling. Thanks for holding How are you doing on terrific Tuesday? I'm doing great Steve. Good morning to you. How are you? I'm doing well. Thanks so much for asking and it's ticker symbol VAL or valley I'm not sure what the correct pronunciation is, but I do know the ticker symbol. That's what you're calling about How can I best help you today? I? Was actually hoping to look at this one. There's one other and they're both in the same area But I guess my specific question on values It looks like it broke the swing point on the weekly with volume, but then if you look at the daily didn't quite do it So I wasn't sure Which one you kind of give? More, you know validity. I just wanted to ask that question Yeah, your thoughts run on that Great great question. So what Brent is doing I'm gonna just open up the weekly chart so that we're first just take a look at that and the a to b equals cd pattern that He's looking at it's a small one It's the one I believe this is the one you're taking a look at Brent where the high is on the week that began January 23rd And then you'd use for the low marks the 20th week that began there Retracement right up into April 10th and as soon as I can get that to catch what I've got a keyboard issue This is a real bummer There we go So that that's your a to b equal cd pattern that would take it down to trend line support on a weekly base long-term trend line Support and that's at the 1203 level. So he would what Brent had mentioned the b-point If you take a look at the little box near for left-hand side, you'll see it says volume 142 million While the bar that closed below that that was a bar from April the 17th the week that began April 17th 154 million shares. So there's your confirm So if we take that swing right around March 20th now, let's go take a look at the daily time frame So your question was, you know, do you just want to have higher priority than the other? I suppose that was the the question out here The question the first thing though is going to be what are we going to use for b points? For the a to b equal cd to the downside of the daily time frame What were you what were your your eyes taking you to Brent? Where were you where were you and the eight points easy, right? So in this case here, we take a look at the valley daily chart That's going to be the high from January 26, but you could actually use the low from D February 13th and then a high from February 21st, that's one pattern you could use the low From February 27th and the next high that follows after that you could actually even use this low here that I see that would take us from the low from March 24th that had by Ma 45 million shares when that was passed there was a gap to the downside With 20 20 27 million. So maybe that's what you were looking at and that's the lighter volume Was it the latter? Was it the latter one that you were looking at there? Yes, the March 24th because that was the lowest point out of those different low points. Yeah. Yeah, okay, so You know you also see on my black background chart So you see trend line support that was that the computer systems are Automatically drawn in here. So even though we're trading below profile right now for the day We don't know where it will end the day and if it does end its way above 1395 that's a very strong support level Brent the reason that I say it's very strong Is because both the center and the bottom are at the exact same place So that's where the buyers are lined up out here inside of Valley I'd say if you get a close below that little trend line there Then I think what takes place is that weekly a to b equal CD pattern We haven't discussed the monthly at all and the monthly what Valley is doing is trading back into an area of support This is a bowler structured profile hasn't gotten down to the top area, which is at 1356 But the bottom of that area is at 1236. So that's the daily weekly and monthly Any questions I'll switch over to the black or to the white background charts. I know you did you said you had two though? But I want to switch to the white background charts before you give me the second one But any questions about these charts here? You know, I'm not in this I just I'm thinking it's gonna go lower and you've given me some levels that I Think that's roughly where I was looking at it might have been more like around, you know, the 1112 area So and it's like a lot of us around 12, you know that area to be watching So yeah, that's now that you pretty much answered the question. I just I'm being patient and just watching these and they She might they have Kind of similar patterns. They're in the same type of areas iron ore, you know, so yeah So in the case there's lower price in this Yeah, and in the case of Vale or Valley 1364 is going to be the weekly TD nine count breakout area and I'd say if you close below it because last week was a bullish hammer candle That didn't get all the way down there But branch I think if you got below that 1364 then the areas that you're looking at maybe 11 But 1203 would be the one-to-one a weekly a to be equal CD and it would be 1078 that would be the one to 1.272 Area and 1236 is the bottom of that monthly profile. So let's move on to your your next request What what was the next instrument that you'd like to look at? It's a cliff CLF CLF all right, so we'll get those fired up is going to take a moment because of what I've got run on the background But I'm gonna switch over to the black background charts because they're gonna populate quicker So we'll take a look at the CLF and what are you looking for here Brent? What do you see? Let's take a look. I don't have the chart up at this I don't take a look. I think they're I think that might be the one that had a little bit more of a I don't use it a lot But I'm ahead in shoulders pattern Okay, and if you took the center point If you did like I like when Basil does that You know the plum line and the time-price match So if you took that And mark she if I'm looking at the daily at this that's the March high Yeah, and so then you're talking to see one two three There's a four months and we're in about the second months and maybe you know a couple of months down the road here We get down to that level on the left-hand side, which is looks to be around 12 or something like that So yeah, okay. Okay, cool So what we have here with regard to cliff right now today It is trading below the bottom of a bullish structure daily profile. That's 1504 So a close below that is going to suggest lower price If I move over to the weekly chart the weekly chart doesn't is trading below profile So there's no support So my sick my what this tells me is price might be headed back towards that does swing low from October of 2022 but before it gets back there We then move over to the monthly time frame and the monthly time frame says, okay Maybe we're gonna get down there But first you've got a bus through support and here support is going to be at 14.05 and there You've got both the bottom of a bullish structure profile as well as trend line So if cliff Cleveland cliffs that is is going ahead lower That's the level that it really needs to bust through is the 14 dollar area 14.05 to be exact now The daily time frame on the switch charts here is also today negating a TD 9 count bottom or appears that it will We don't know what the close is that but we can say that as of 1149 that is the case So the TD 9 count bottom it took price right up to where it should have that oscillator and change line Which is red that's a bearish condition now or below profile and bushing through a pattern This is all suggesting that does want lower price and on a monthly basis You are trading into that swing point from November So odds favorite least a test of 14.05 as I see it right now The weekly has an a to b equal CD to the downside pattern that would take it to about 1092 So those are the levels that I've got for CLF Brent any anything else that I can share with you. I Think that's it. I do believe that both these are gonna go lower and that it's just a matter of You know, we always are looking for that pattern to complete and then the bullish reversal candle all the indicators it would you know You know give a sudden Pause at least look at it and take a long position. So I'll be watching and that helps so much that what you just gave me Thank you so much. Hey Brent always good to speak to you. Thanks much for calling. Have a terrific Tuesday We'll look forward to speaking to you again soon folks. 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Just visit the front page of TFNN.com Welcome back folks. So we got the charts for Tesla up on our screen. Nicholas would like to take a short end Tesla Nicholas, let me share with you the patterns that are inside the stock charts here The daily timeframe as a confirmed Gartley buy pattern that formed out here on the trading day of April the 27th Now the volume on that bar 127 million shares so far today you're pulling back with 67 million shares So inform that bottom form that buy the D point a Gartley buy What does price do runs all the way up to that oscillator and change line That's what a tag this morning and now it's a red oscillator and change line That's not a bowler sign. That's more of a bearish sign, but prices with inside his profile I have no idea. It's coming down with volume, but it hasn't broken through support You would need a close below the low from that day of April the 27th in order to negate that by the D point Gartley buy pattern. That's 152 37 the weekly formed a bullish hammer candle last week that completed a weekly Gartley buy pattern Granted prices below that red oscillator and change line But and you have a monthly buy the D point pattern Would I take a short here? No because I did really need to see price break through those but look you may take that short It's just Stevie wouldn't not with all those patterns out there inside of Tesla Greg wanted to take a look at USO What we're really going to do here Greg because I'm out of time basically is if I can get to it Is go take like a light sweet crude because that will be the better one So here's the crude oil charts and on a daily basis price right now is testing Profile support or I believe it is profile support on a weekly basis for crude oil is down at 7277 72 we're trading below that as we speak right now We're at 72 35 the daily time frame here Greg It is negating a teeny nine count bottom and a price close to the day below 7393 this said crude oil is headed to 6702 Lastly for Steve our float guy you want to take a look at the interday charts here for the NQ So on the NQ that's we're posting up on our screen here. We took a look at that 30 minute I believe was a 30 minute and a 60 minute TD nine count bottom pattern that was forming out here Let me get those and why this isn't pop. Yeah, so you are in Your forming bar number nine right now that says in four minutes. You're going to have a confirmed 30 minute TD nine count bottom And that says that that you should see that bottom by 12 30 and price should make its way up to that 13 224 Level and that's the oscillator and change line folks. Have a terrific Tuesday Please join us on wonderful wednesday. Have a great day. Be safe out there. Take care