 The following is a presentation of TFNN The Trader's Edge with Steve Rhodes All now toll free at 1-877-927-6648 or internationally at 727-873-7618 The Trader's Edge Now Steve Rhodes Good morning folks. Welcome to the April 27th the terrific Thursday 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 is having a great day And let's make sure we have an extraordinary one and the easiest way to do that is to 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 It 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 and dial on it at 877 9276 648 now if you've got a question, but you can't dial in you can always send me an email Send that off to Steve at tfnn.com and inside the subject heading Please put radio show question. Of course if you're inside our tigers dead well than any and every ping will do So let's go ahead and get this show started on terrific Thursday, of course This is tiger financial news network. I'm Steve Rhodes Welcome to the show right now. We got a mixed bag out there The mix is coming from the Russell in the semis the semis are down 25 about eight-tenths and the Russell just slightly flat down two Points the Dow is up 177 the S&P up 33 the Nasdaq 217 That's a half a percent eight-tenths and one of points at 1.7 percent move to the upside trainees are up 1% as well That's a hundred and 35 points gold is off three bucks Sobersaw does basically flat lights we kudos flat natural gases up to pennies and 30 treasury printing out at 130 13 That's off one point and ten ticks out there. So let's begin Let's begin with the new news out here The new news is the new profile that is attempting to form inside of the NQ. So it's the upper right-hand panel Let's just simply expand out the chart. Well, we'll see here a new profile with support of 12 899 Resistance at 13199 at a price where to get above that 13199 just be aware that there is weekly resistance profile resistance That is at 13348 Profile won't be confirmed until this evening. I've reset it many times. It seems to be pretty solid out there now This profile let me turn off the green what the weekly profile give me a second here. We'll turn them off turn them on But to make the point that I want to I want to just try to declutter the chart just a tad So let's turn off those weeklies and now what you can clearly see is I want you to notice how this new profile Has formed above the prior profile What I specifically mean is we have a higher low and we have a higher high and that from a profile standpoint Is a sign of a bullish market not a bearish market and a bearish market We'd have just the opposite that doesn't mean that price can't bust through support and start a bear run But with a guard to the profiles out there and to the extent that you believe the NQ is either gonna push the markets higher or lower Well, one we do have resistance So it hasn't exactly broken out and but but that new profile Especially if it does take hold tonight send in an interesting message It is much different than the message of the ES many or the Dow or the Russell 2000 Russell 2000 It's just consolidating with inside his profile. So no big deal there with 17 22 71 being support But in the case of the yes many it is trading below the bottom of its daily profile has for three days now Same thing with regard to the Dow Those are signals of a change in trend now with regard to the ES many Well, it has found support at the center of that bullish structured weekly profile that 40 81 level Actual low so far this week is 40 80 75 So we know that 40 81 is a very key area of support that if we were to see price close blow come tomorrow Because that's a weekly level. We're looking at that would then suggest to move back to the 4,000 area, okay, nothing else really to report here with regard to the dailies So let's move over and go take a look at Some of our other equity future charts out here some of the white background charts So move over we'll take a look at those no other real patterns that are I have been identified We are going to form bar number seven or it appears We will form bar number seven in the Dow equity future contract So it's possible that early next week. We could get that we could even be tomorrow a TD nine count bottom pattern that forms out here I don't see that in the others at least not just yet as we speak So let's go take a look at the intraday charts out here. Let's do a couple different things one Let's take a look at that kind of over looked at let's take a look at market conditions Now what I mean by market conditions We're talking about profiles out there What are the market conditions that we're dealing with generally speaking with regard to the different five time frames at You and I can track we can monitor weekly daily 240 and a 60 minute on this chart This is the S&P 500 and as we speak right now, there's 141 instruments trading above profile 183 below So the pressure is to the downside for the ES mini For each of its time frames out there. We take a look at the NASDAQ here's where we get the you know Choppy market out here. Why is it choppy? Well right now the 60 minute time frame chart is bullish The others weekly daily and 240 they are each bearish out there So we know that the 60 minute on let's go take a look at 30 minute But we do know that the 60 minute for the NQ is bullish and we'll take a look at that most certainly We take a look at what's going on intraday meaning 30 minute time frames out here We have bearish crossovers for the S&P 102 above to 13 below So the S&P is bearish across the board and inside the NQ right now for its 30 minute time frame We've got it's doing all the calculations 31 above 28 below. So the NASDAQ 30 in the 60 minute at bullish profile support bullish profile Are bullish and bullish market breath? Oh, Stevie's figure it out and whereas the ES mini is bearish, right? So here we've got the charts for the ES mini. So let's just take a look at these We know that the ES mini is up towards resistance. That's the bottom of that daily profile When you get up towards resistance if it really is resistant the market's gonna move lower What you like to see is a topping signals or resistance levels for those intraday charts Let's go through them one by one five-hour chart gets right up to resistance. It's bearish structured profile That's at the 41 1150 area mark that on your pad of paper Why because the 240 minute profile level is 41 1150 as well At 41 15, which is where price got up to that is a TD 9 count breakdown area on the 120 minute chart So on the top row daily at resistance bottom of its daily profile 3300 to four hour in the five hour charts also at resistance top of their profiles 120 minute chart at resistance at its TD 9 count breakdown level now The cool thing here is if you were to see a close about 41 15 That's gonna signal to us really what's called 41 18 41 19 a close about 41 19 says this rally has legs And we should expect or anticipate that the rally will at least last through tomorrow out there We look at the bottom row the bottom row 41 15 TD 9 count breakdown resistance and it formed a TD 9 count top 4115 is very key 41 13 50 on the 30 minute time frame chart the 15 the 10 each have topping patterns They take TD 9 count and roads meant to minicator signals that are present out there So across the board inside the ES mini so if you took a short a little while ago inside the ES mini I cannot find any fault anywhere in doing that the only fault could be or would be that NASDAQ the NQ out there Because remember it's it's short-term time frames. We're bullish. So we get back from the break We'll reset this set of charts out here. We'll take a look at the NQ And of course, I want to take a look at anything that you would like to look at as well What are those instruments? We're gonna look at we do come back from the break is going to be VUZ I That's for Dan inside the Tigris Den. We'll be right back Currencies commodities and bond markets are as important as ever right now with how they're driving a volatility in equity markets across the globe Which is why it's a great time to try out Teddy Keg stats Tiger 4x report Teddy Keg stat breaks down the 4x markets every Monday using his 30 plus years of experience as a trading veteran of futures 4x stocks and options Teddy releases his weekly Tiger 4x 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 4x markets tremendously When you sign up for the Tiger 4x report, you also gain instant access to Teddy's 60-minute webinar archive He just hosted 4x strategies and fundamentals What is behind the Tiger 4x report for all the details and to start your 30-day Tiger 4x report subscription today? Visit the front page of tfnn.com tfnn educating investors You might think that if you want to be successful at trading in the stock market You're going to need a crystal ball after all it's impossible to predict the future right like any endeavor in life before you decide It's impossible get some advice from the experts You might find that it's not so impossible after all for daily market overviews that give you direction on the key indices Selective stocks and commodities subscribe to the opening call newsletter at tfnn.com The opening call newsletter is written by 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 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 toll free at 1-877-927-6648 Internationally at 727-873-7618 Got folks still a mixed bag out there that mix up with the Russell in the semis trading to the downside Otherwise all the other US indices are trading to the upside. We're taking a look at the chart here for the NQ We went through the ES mini in detail. We're gonna see really an exact opposite Set of patterns out here now in the case of the NQ We know that there's a new daily profile in the black background charts that hasn't shown up on the white background charts yet Again, that's an early detection tool that I'm using but right now. We do know resistance should stand at 13199 And I suspect price is gonna go target that level or 13175, which is its daily green oscillator and change line That's being confirmed here by the NQ Five-hour chart. It's got an A to B equal CD pattern prices taken on resistance now This bar doesn't complete till 2 p.m. So hard to say whether price will take out that resistance level that resistance level is at 13,000 and Can't see it gotta blow it up. Sorry Sorry about that that stands at 13100 So and above that is 13134 is TD 9 cal breakdown resistance So then Q is trading in the resistance area the 240 minute charts not trading in the resistance It still has that a to b equal CD pattern. It's a bearish reversal candle the 240 minute charts Is I want to get all the way up to 13241 now I don't know that that will happen because of that new profile level that we've got the 120 minute chart You can also see while it's in bar number eight now There's a two-hour time frame bar here is going to complete at 12 noon. So about another 50 Another 40 minutes out there 41 minutes And so you could form the 220 minute chart could be signaling atop between 12 noon Quite frankly in 4 p.m. So I'm not real hopeful there that that's gonna identify atop at this stage And that reason I say that is when I look at the 60 minute chart it negated its TD 9 count top Immediately there wasn't even a one bar hiccup out here This tells us about a very strong momentum move at least for this time frame to the upside now It still has need to be equal CD So if it did generate a bearish reversal candle on a 60 minute base that would generate a gartly sell pattern Short of that price should go target the 1318675 above all that is its next TD 9 count breakdown area Out here so very bullish on that 60 minute time frame and we know that the 60 minute inside the NQ We took a look at its market breath earlier was bullish So we're not seeing anything there in the 60 minutes It's in the 30 minute chart was also bullish now on the 30 minute chart to gauge whether or not there's gonna be any kind of short-term top the beauty here is it's 11 20 and So at 11 30 this will have completed a TD 9 count top now I do not know whether it's the high of bar number nine which I can give you that high or what's gonna take place the next nine minutes I just don't know but currently it's 1318 50 whatever that high is right now It's 1318 50 if you did see a close above that on a 30 minute bar that pattern gets negated That would tell you just a ton out here So the 30 and the 60 minute charts are the best ones to be watching inside the NQ out here Let's go switch over and take a look and see all the 30 minute charts if they're all worth watching or suggest the NQ's out here So here we get to the 30 minute charts upper left is the ES mini. There's that TD 9 count top That has formed out here and we'll complete when we get to the 1130 time frame out here now price is trade above its green oscillator and change line and the top of its profile This signal is neutral. We have inside the NQ Well, we've got that TD 9 count top that we took a look at out there So we don't need to go over that the tall's got a roadspin to indicator top with price consulting with inside its profiles Supported 33 493 and they're also in a mine. It's got its mind of its own out here It is right now testing TD 9 count breakout support at 1735 60 for a 30 minute time frame So how do we summarize this we summarize this and that the DAW is already formed its top and the ES has a topping pattern, but it's neutral right now and the NQ is likely to complete a TD We'll complete a TD 9 top in just about seven and a half minutes out there So I pay attention to the 30 minute charts. I pay attention to the 60 minute charts as well Let's go take a quick peek at its patterns We take a look at the ES mini there just that TD 9 count top that's in place now that gets negated with a close above 4108 50 that would get negated if we had a close above 4108 50 out there We're 4108 a quarter right now, but 4115 is a real key level of resistance that price needs to move above This NQ as we see as you can see here immediately negated its TD 9 count, but you've got a TD 9 count on the DAW We've got a TD 9 count on the Russell So we got topping patterns in the three of the four and the fourth one Negated that topping signal right away So I say today it's all about the NQ and it sure looks like to me it wants to make that move at least that 13 199 level out there. So that's a review of the equity markets out there Of course, we've got some questions. Please write in Steve at tfn.com or give us call 877 9276 648 of course you're inside the Tiger's Den will take any ping private or public So let's go take a look at our first request out there. We only have two both of them are from Dan Of course, I would love to hear from you as well folks. So let's take a look at Vuzi Vuzi is the ticker symbol And let me make sure I'm in the right spot. I am Vuzi is trading at I just want to confirm this looks like 407 But it's 408 And it is trading right up Dan So you've got a new profile that is formed today and we can see that price ran into resistors at 413 And 413 is the top of that profile So if price can close above that what price should do then is least go target It's swing high from April 12th. Now that swing did volume of 482,000. You're already at 530 So price is pushing into that But it still has to clear where the sellers are at at 413 And if it does do that then ought to make its way up to that 439 level And if it can clear 439 then you're looking to move up to the 483 range on a weekly basis What Vuzi has done this is Vuzic Corp. It has pulled back and tested and so far rejected It's oscillator and changeline but trading below profile. So not that it's bullish But at least a key level of support has held and the monthly time frame What's holding us support is the bottom of its profile. The bottom of its monthly profile is priced at 399 So let's bring Vuzi on home I think Vuzi is Getting ready to rally for at least a couple days that confirmation would be a close above 413 We've seen four consecutive days to the downside. This will at least be day number two to the upside out there So I would say Vuzi Dan could top out Short-term top well some type of top I could form between today and tomorrow After tomorrow, I mean typically this this doesn't make more than a three-day consecutive rally out there That's I mean sell the business or anything. Everything looked really pretty good out there So pay attention to the numbers. You've got those resistance levels You know where sellers are are sitting at right now And if there's anything else you need on a Vuzi just right back and we'll be happy to get that to you But let's go to your second request and the second request was to take a look at ICU So let's go take a look at ICU which is trading at about 220. I'm gonna confirm that yet traded at 220 This is C-star medical holdings and C-star medical holdings right now It's just consolidated with inside its daily profile and that range runs from a 202 at the bottom for support and 234 resistance TD9 count on the weekly time frame chart price dealing with its profiles Resistance that is that's because price is trading below the support level at 247. So 247 on 246 that is 246 247 we'll call 247 247 is going to be a real key area for you to Overcome out here with regard to ICU the monthly has been trading for enough time for us to be able to get enough bar Data to really produce any kind of patterns out here I'm gonna change windows for a moment down because I have my trend tool set on the black background charts I just want to show you another element to be paying attention to in the case of ICU And that would be that little trend line out there. So you've got real good resistance up at that 230 level This is ICU. This is the daily time frame price can clear that and you'd be off to the races Those races of course only be to 247 Steve Rhodes with TFN. We'll be right back The 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. 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Let's go to our next request is from DPD inside the Tigers Dan welcome and the question is take a look at Caterpillar Caterpillar gap down this morning trained out about 205 90. Let me just make sure Here it looks like maybe we fix this little data flow issue. That would be a beautiful thing No, we did not it's trained at 207 78. That's a bummer So what we do know it did get down it is trading below the bottom of its profile out there And the bottom of the profile is at 211 43 It's triggered a roadsmen to indicator signal. And if price can close the day above 208 94 and your 207 90 it'll retain the roadsmen to indicator bottom pattern that already was in place Otherwise it negates it and it says it wants lower price You're trading below profile support on a weekly basis So DPD the next likely target area that we see in Caterpillar That is under the assumption that it does not close a day above 208 94 If it does not do that then to the downside the price target becomes 191 81 That's its next level of profile support that is present at the moment out here So let's see if there's some other patterns that we can identify out here in the case of Caterpillar So let's look at how many days down are we at now inside of Caterpillar consecutive? It's going to be day number three It typically does three to four bar moves out there Several several twos, but I see a lot of threes and fours to the downside So I would say that Caterpillar is likely to form a short-term bottom by today or tomorrow out there You need to see it or you'd want to see it on a 30-minute chart out here I'm not suggesting they take a long position or anything But just to say you can do the play-by-play when we look at the 30-minute time frame chart What's missing here is any kind of a bottom signal so that's why I don't believe that it has a bottom today out here and So it's we got that what else can we find in Caterpillar boy? You know it's got the weekly a to b equal CD to the downside pattern out here You know and that that looks like let's just switch over to the black background charts Just easier for me to draw those patterns there and that will there be very specific and exact quite frankly So let's just take a look at the let's take a look at the weekly time frame chart So on a weekly chart here, but it can identify the eight points. That's pretty is that's the high That was high of January of 2023 out there The b-point that I would use is this first move down into the week of February 20th And then you had a nice a couple week bounce out here form to hide the week that began at March the 6 So you can see that we are now below. We're at the we've gotten down to the 1 to 1.6 1 8 level So I would say if 191 81 Does not hold that's the bottom of that monthly profile then we're looking at a move down to 189 Geez Stevie, that's really big 191 versus 189 It's just indication of where price is really likely headed to inside of Caterpillar So what you watch for here is you watch for some type of bullish reversal candle to form That yeah, oh Jesus didn't go like they go live. Sorry now. We're now we're live Yeah, okay, so I drew I drew in this a to b equal CD to the downside Sorry that it didn't switch over to those black background charts out there But you can see that the one to two one to two a to b equal CD down pattern gets us in that 189 level and you come over here to the monthly 191 81 is the bottom of its profile and the trend line probably gets us in that 189 area So I think we have a lot of indication that's where it wants to go The caveat is where does price close today because if price does close above 208 94 It's still retains the rose meant to mitigate her bottom signal that was that it formed out here was confirmed on April the 10th so hope that helps out with regard to a Caterpillar and DPD I'd like more requests from you at some point in time. Looks like there's a couple of requests out here Spokane Bob and Spokane I don't know if you wanted me to look at those but we're going to anyways because I don't have anything in the queue and VX Is one of the instruments we're gonna go take a look at out here. Let that populate en VX is Trading right now at its breakout level of support The screen here shows you straight in about 1098. I show on my other screen 1046 So it is breaking through breakout support and it's confirming an a to b equal CD to the downside So the B point will come back and we'll draw which chart am I on the right or back? Oh, I'm on the black Okay, we'll just stay here. We'll draw the a to b equal CD pattern out there So the a point out here easy for everybody to identify that's going to be the high that for at least on my screen right now at 331 the B points going to be the low from April the 10th The C point is going to be the high into the top of that profile on April 13 We are now in the volume on the B point was 6 million shares were at 7.3 million shares So you're already at the one one point two seven two the next price projection level inside of en VX And obix corp would be down at about the nine dollar level We take a look at the weekly time frame chart the weekly shows so we're trading with inside his profile And what we see out here is bullish structure profile support between eight seventy nine forty six So all of this is matching what we just took a look at on the daily time frame We did do one before the other and try to force anything just narrating the charts and narrating the patterns So with regard to en VX Bob, it does look like this is headed back towards at eight seventy nine forty six is level out there the next one that you had an interest in or that you at least wrote the symbol down was em see Where's where did it go em see our B? So let's get em see our B up on our screen Em see our B and that is just simply series serious therapeutics Which at the moment is testing profile support? So it ran into trend line resistance and right now it's dealing with the profile support that exists at five seventy three We're trading at five seventy one. I would say if there's a close below five seventy three odds favor lower price But lower price to where We're gonna switch over to our other charts out here because I don't see any other patterns that are worth paying attention to Let's let's let's state this we're trading above profile in a weekly we're trading a profile in a monthly Those are those are bullish signals out there. Let's go back and switch over to those white background charts Let's go take a look at any other patterns Information that we can identify for so we take a look at this instrument series therapeutics em see our B out here On the weekly time frame So again, this is a bit we see a close below the bottom of its profile That's at five seventy three then the weekly is saying hey I may just be pulling back to retest support which has already done it basically this week and that's down at that level of five fifty seven Price would have to close below five fifty seven to then suggest to you and I they were priced might want to get back to His four sixty six which is the top of that weekly profile out there So we take this we don't have enough data on the whether monthly is not providing us with much data other than Price is trading above the top of that profile. So let's take a quick peek here at its dance moves And today looks like this will be bar number one of a move lower the last several Retracements out here have just simply been two bar knee jerk reactions out there So it's possible you could get a short-term bottom that forms by tomorrow out there. That's ticker symbol MCRB So I hope that helps you out and gave the information that you were looking for both of those instruments Bob You bought the sell debt by names, okay, okay, so Phil great. So we're headed to 618 most likely Nice shirt Stevie. Thank you You know, so I wasn't with the yes, I recorded the show yesterday early It's taken me a long time. I'm still not anywhere near over Dave's passing Just just no way but you know, you do know I believe everything in life happens for us So the force for me had to be to really get back into shape Since Dave's passing I'm down 22 pounds. I'm wearing shirts here Phil. I haven't worn for years And I've got more to go and yesterday was a stress test. Just make sure the ticker is okay Steve Rhodes with TFN and 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 Identifying price turns finding the peaks and valleys and 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.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 calm 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 Including 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 Back folks, so you got now you've got the SMIs you only in to see trading the downside they're off 18 points We're gonna have enough time to take like the SMH's kind of get a feel for what's going on there But we do have four requests that have come in so let's get to those the first one coming in from First we're coming in from Nicholas Nicholas writes in good morning, Steve Would you please go over JPM for a short or not? Thanks. Have a great day. Absolutely. So right now what you've got is a price is trading above support Nicholas Which is the bottom of its daily profile 135 80 so to the extent that you want to short JP Morgan Impressed yesterday got back back to where it had broken out big gap to the upside and that had volume of 43 million shares Now yesterday's move lower was 14 million shares. So yeah, maybe not on the short side Right now you're trading above its green oscillator and change line which is printed at 136 56 This suggests to you and I the JP Morgan wants to make a move to 138 79 And then maybe 141 78 out there So that would be the better place to to consider a short But you know, we really have to go take a look at that financial sector the XLF out there because that did have an a to Be equal CDT upside so we'll take a look at I don't have time to do that right now But with regard to JP Morgan your specific question He with regard to it do I see a short out here? Well, I think yesterday's volume was telling you a ton and Price is now above a key support levels out there the weekly chart You're just consolidating with inside It's a profile range between 13463 where it did get down to yesterday and found support and it's trading into its bearish Structured profile area that's between 140 oh two and 143 26 the monthly chart Suggest that if price can close out the month and today's the 27th So if it does close out the month above its oscillator and change on which is green Which is at 137 even right now You'll get a close above that and the top of its profile and those are bullish conditions Now it doesn't mean that price is going to be able to clear its most recent highs at the 144 34 area But it would be a bullish outcome out there So on the weekly, you know, you're dealing with that resistance of that cell zone that bearish structured cell zone The monthly looks pretty good quite frankly the daily looks pretty good as well Although it did generate a sell the D point pattern a couple of days ago with that gap to the downside So that's another place or price target where we could see price head to and that would be up until the 140 Oh four level so with regard to JP Morgan yesterday was two days to the downside And you got to expect that this will do two days to the upside out there at least two or three days to the upside So I say no short today and likely no short tomorrow and that was JP Morgan So Nicholas, thanks right in hope that helps you out. Let's go to Alton's question. Alton wants to take like a ticker symbol VC Yt So give me a moment. Let me also make sure I'm on the right spot. I am V swoops VC YT Let's actually read the question The question goes like this. Hey Steve if you have time your thoughts on VC YT, please. Thanks as always well You're welcome. So right now if I take a look at VC YT trading about 2247 my systems screen right now shows 2240 56 But it's really trading at 2247 doesn't necessarily matter It's consolidating with inside its daily profile. So your range out here Alton is between 21 58 and 23 25 on a weekly basis What's price doing price is trading above profile? It's as simple as that and if it can continue to hold the oscillator and change line, which it's You know testing right now the oscillator and change line is really at 2254 The price can continue to stay above that on a weekly basis That's a bullish outcome and the monthly says boy I'm really struggling to clear 2483 right now. That is its oscillator and change line We've seen four tests out of last six months where price gotten up there and rejected that level really reasons rejected 3022 as well So 3022 but right now it's dealing with that 2493 so VC YT. I Just see some consolidation patterns. It looks pretty good But knowing that that 2493 is a significant level of resistance. I don't think it's a buy. It's most certainly not a short Here either so I do hope that helps out with regard to VC YT On a 30 minute base looks like this once to continue to rally It's just dealing with resistance levels from profiles from the nice roads meant to mitigate or bottom pattern yesterday afternoon at 330 so 2279 it's next stop and above that 2340 so Alton. I hope that helps you out Thanks much for writing in as always and we'll look forward to your next request the next request though didn't come in from Alton It came in from Roger B. Roger wants to take a look at NXP I So let's get over to take a look at NXP I Get those populated and let's read Roger's questions I would like your opinion on NXP I as I saw my profit banish and if time please I take a look at Qualcomm So this gaps to the downside today you're trading at 159 27 it shows up as a potential hammer candle We really won't know till day's end But boy this thing has been making lower highs and lower lows out there You're trading below profile on the weekly basis, which is 166 48 So you close below that that says change in trend and that says a price should go target It's swing point that swing point was a TD 9 count bottom for the week of October the 14th And the high out there is 151 96 and low so far today has been 155 31 so it hasn't gotten down to that swing point I would assume that it is volume on the trade today. You're already 1.9 million shares That's pretty decent volume. So it also on the daily base wants to that TD 9 So this had a TD 9 count bottom on the daily and the weekly Roger out here and the monthly Now that is a beautiful thing But here I say the volume on that daily time frame is 1.4 million or 1.9 already So you we know we're moving down with volume out there The question is what's that candle days in because we certainly can draw an a to b equal CD pattern in here Which we will do I'll go do that on my other screen just so that it's clear And we can see the a to b equal CD pattern. So give me a moment here We'll switch over to this this time make sure that you hit the go button. There we go So we're live now. Let's go ahead and open it up And with regard to the a to b equal CD pattern out here the a point very easy to identify The a point out here is on the trading day of February the second the b point that I'm going to use is right down here This nice little hammer candle that formed on March the 28th That was also wave number seven on the away down So another nice reason to to mark that and the c-point is going to be every tracement up into a high that formed the week of Oh, this is daily chart the day of March the 31st So now we can see the b point which had volume of 2.3 million shares That was passed yesterday with 2.6 million shares that gave you that or two days ago I should say that gave you the confirmed a to b equal CD to the downside We're on the left hand side of that c to d run that tells us we should do more than a one-to-one move So Roger with regard to NX PI it's signaling to you and I wants to get down to 151 46 or thereabouts, but if you did get a bullish reversal candle you would get a confirmed by the d-point pattern So what happens if today turns out to be a bullish hammer candle? Well, it's also a gap to the downside So those become very tricky out there and I'll just simply default back to the weekly chart that says caution Will Robinson you're below the bottom of its profile level and I'd say watch the monthly chart as well because if we do close below 159-24 this thing wants lower price. Let's go take a look at Qualcomm We'll switch over to those charts here now Those are on the white background charts in a moment, but it will pull it up here on these black background Q COM and with regard to Qualcomm out there This had formed a this is going to negate a TD 9 count bottom if it closes below the low from two days ago That low was April 25th, and the actual low was 1368 your 1304 so price closed below 1368 today Roger this suggests lower price now price is taken on the b-point of an a to b equal CD That has 8.9 million shares and that low is not likely to get passed with volume today What are we at 1.9 not likely to happen? And that's at 113 14 So if you get a close below that one 1304 right now You'll form the a to b equal CD. You just won't get it confirmed with volume. That doesn't mean that it doesn't play out Steve Rhodes with TFN. We'll be right back If you're looking for potential trading setups in the stock market then rocket equities and options report is a newsletter You should try Tommy O'Brien delivers options and equity trades when the markets present them using a combination of fundamentals and Technicals sign up for rocket equities and options report today with a 30-day money back guarantee So you have nothing to risk for all the details and to start your subscription today Visit the front page of TFN comm TFN 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 and 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 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 comm 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 comm educating investors TFNN has launched the tiger's den hosted at discord TFNN has been educating traders for more than 20 years with live programming hosted by a variety of professional traders during market hours The tiger's den available to all tigers and tygruses for just one dollar for the year There's no catch or added costs when you join our community of traders sign up today and become a part of this educational community of traders Just visit the front page of TFNN comm Good back up folks. So I think we're going to close out the show at least take a look at this sober Charles writes in he says steep. Thank you And let me know your thoughts on slv. Thanks kind regards um This is a charles. So charles what i've done here is I put the sl here This is this I thank you for the question first of all and the reason is Is uh that I put both the slb chart on the left hand side And then the actual underlying instrument the silver contract And the reason is because what we really base our decisions upon charles is the underlying contract the future contract If I were to only pull up the slv, I would be giving you some bad news Now it still may be bad news that turns out to a bad bad advice. I should say not bad news bad advice Um based upon its chart patterns. For example, when I pulled up the slv for you I said geez this is going to form this may form a td9 cal bottom of day It'll do that if it closes below the bar of five of bar number five the close of bar number five That happens to be 22 and 98 Ha But I said hey, what's that? I don't remember seeing silver It's being in a td9 count bottom pattern. So I put that chart up and now you see it And you can see we are definitely not in a td9 count bottom pattern out here So we do have between the two instruments out here charles is a consolidation right now between their profile levels of support In the case of the slb, that's 22 46 for support and 23 35 for resistance in the case of silver It's 24 66 for support and 25 54 resistance out there So the thoughts on this is you're just inside a consolidation Um, you know, where's the best place to buy silver? Well, it's really in that range of 24 66 and to 24 87 On less price closing below 24 66 But it's a both structured level of support If it does you just jettison that position at that stage and you wait to possibly rebuy silver at about 23 14 So please keep an eye on the silver Contract out there versus just the slb. Lastly, let's just real quickly run over take a look at the smh as I mentioned That we go take a look at that. We just have a moment out here The smh's have a clear a to b equal cd to the downside If we were to get a bullish hammer candle today and that's a possibility It's a possibility you would then generate a buy the d-point pattern price right now is testing swing point support That's got 4.9 million. You're only 1.8 as we speak folks. Stay tuned. I'll see you tomorrow on fantastic friday Please have a terrific thursday be safe out there