 The following is a presentation of TFNN The Trader's Edge with Steve Rhodes, toll-free at 1-877-927-6648 or internationally at 727-873-7618 The Trader's Edge Now Steve Rhodes Good afternoon folks. Welcome to the October 18th. The fantastic Friday edition of today's Trader's Edge Show, thanks so much for joining me here. Great to be with you. Currently, we've got the Dow off about 171 points. We're certainly going to take a look at all these markets, but most importantly, what I want to be able to do is take a look at whatever instrument it is that you want to take a look at. So just give us a call at 877-927-6648 if you can't give us a call. Another way to reach out to me is send me an email, Steve at TFNN.com. We've got several emails already in the queue. It's much easier for me if you could put radio show question inside the subject heading of your email. And of course, inside the Tiger Stand, like Jimmy D, you can ping me private to public. It doesn't matter. Just simply reach out to me. So let's go ahead and get this show started on fantastic Friday. Of course, this is Tiger Financial News Network again. I'm Steve Rhodes. Welcome to the show. Currently, all the indices in the red, the Dow off 169, that's about 6 tenths of a percent. We down about half that from a percentage standpoint, 11 points still to the downside. NDX off 1 percent, Russell down 6 tenths of a percent. The spotball of Tildex is up about 5 percent, 67 cents, straight down to 1446. Gold's off 3 bucks. Silver down to penny. Light sweet crude off 33, natural gas up just slightly out there leading the charge to the upside. It is intuitive surgical, $31 to the upside. Chipotle's up 12, Kansas City Southern's up 7, Crown Castle International up 4, Rihanna Pharmaceuticals up 4. To the downside, it's Amazon off 1.5 percent or 26 buckaroonies, Netflix is off 16, Booking Holdings off 14, Boeing enough, 13, Shopify down 11. So certainly things to take a look at, but we're going to begin by going and answering questions that have come in. The first one came in from a subscriber, came in from Greg H. And Greg wanted me to review key reversal sessions. Now the reason is because, so I send out my newsletter each morning, covers all of the, covers all the markets basically. Now when I say all the markets, what do I mean? When we take a look at the international markets, we take a look at what's going on in the U.S. equity futures contracts out there, searching for patterns, look, searching for signals to help us understand what the market's communicating to you and I. We take a look at currencies, commodities, the whole nine yards out there. And then in the evening, most evenings, I send out a end of day report. End of day report has all of the major U.S. indices, charts, daily charts, weekly charts for all the major U.S. indices, each of the sectors inside the S&P 500 and then Stevie's Bob system. Bob system tells you if an instrument is bullish or bearish, whether there's a topping or a bottoming pattern that is out there. And then I also try to summarize, obviously, our trades that we've got as well as what took place in the market and what to anticipate in overnight action. Oftentimes, the market generates a signal for you and I to understand what the market is communicating to us. And so yesterday, what I pointed out, you and I looked at the following. So this is, in essence, a part of my Bob system, bullish or bearish. My market analyzer, here's a small version of it as soon as I can find it. Now what you're going to see, I'm just putting over the short term time frames, but if we took a look at this yesterday, when the update went out, five, six o'clock, I don't recall the time, if we would have looked at. So here's a 30 minute, one hour, two hour, five hour. We're looking at the, well, we're looking at the right hand panels, the ones without any kind of color in them. The other ones tell you whether the, for that time frame, whether the instrument is bullish or bearish, what version of bullish or bearish it might be as well. But over on the right hand side is where we take a look at Stevie's Rhodes Momentum Indicator Topping Signals. And in the short term time frame, we had them for the 30, for the one hour, the two hour, five hour. Now several of these are blank right now, 30 and one hour because of the move. Once it gets beyond a certain point, I go ahead and reset those because the top is gone, come and gone, not necessarily gone necessarily, but it has come and it's done enough work to be looking for a new signal out there. So yesterday what I'd pointed out was the five hour time frame charts were beginning to show topping signals. Now when I say topping signals, that does not necessarily mean it's the ultimate in tops, but it lets you know that what the market is communicating to you and I is that its intent is to head back to support. So whenever there's a topping signal or a bottoming signal, topping signal, you anticipate, especially if you've got, you know, and this will work for your patterns, whatever they might be, or it should work for your patterns is really what I should say. You should be looking for when that signal comes in for price to go down and test support. Likewise, if it's a bottom signal, price should move up to test resistance. So if we look at the five hour timeframe chart out there, now you know that in order for a pattern to complete or most patterns, not the TD set up nine count as an example, but for most patterns to complete, Stevie's looking for the Calvary, looking for a bullish or bearish signal out there. Now typically those are Japanese candlesticks. However, yesterday at 2 o'clock, I didn't realize this till early in the evening when I was working on the end of day reports, but it just so happened that at 2 p.m. on the five hour timeframe chart, one, we had the roads momentum indicator pattern. Here's those diagonal lines out there. I won't go into the depth of this, but if you'd like to learn it, I teach you just become a subscriber of Mastering Probabilities and Archive Workshop and you'll get the exact, you'll get the exact, there's like no secrets here. Of course, many people say why, why do you give this away? Can other people, yes, I want other people to use this. And trust me, if everybody uses the same thing, there are so many instruments, so many time frames, it really doesn't matter. And these patterns, by the way, folks, they've been working ever since charting stocks was available. How do I know? Because I've taken this pattern and gone back to 18, I think I've got 1865 or 85 in the Dow out there. I know 1885 for sure, and it's worked throughout time. So it's gonna continue to work. So when we see them, we pay attention, look at the bottom on a five hour timeframe here, back on October 3rd, inside of the ES mini. Nice, beautiful roads, momentum indicator bottom. Now price had been moving higher, doing less relative energy and at two o'clock yesterday, we had a key reversal session. What is it, now you can do internet searches on key reversal sessions, you're gonna get confused. And I'm not saying I'm right, I'm gonna share with you how I use a key reversal bar. As I take a look at the stuff that's been on the internet out there, all they're really describing is a bearish engulfing candle or a bullish engulfing candle, hello, that's a Japanese candlestick. A key reversal, there are three requirements, this is not a Japanese candlestick, there are three requirements that Stevie uses for a key reversal, and a key reversal just like it sounds. It's a signal to suggest to you and I that the market is going to reverse. However, and my suggestion is really, write these three rules down if you're not familiar with those rules, the first rule, and it doesn't have to be in this order necessarily, but the first rule is that the bar that you're taking a look at as a possible key reversal, and I watch people misuse this all the time. But if we take a look at the bar of the key reversal session, the high and low of that bar must exceed the high and low of the prior bar. So that's the first thing, but just that alone because that can happen all throughout the charts out here, and so that itself when you see it is not the same key reversal that Stevie is talking about because you need conditions two and three. What are conditions two and three? Well, condition two is the market must, must be in an extended condition. How do you identify an extending condition? Well, one of the ways that the roads were meant to mitigate her is telling you the market has stretched itself. That's for sure. You can use an A to B equal CD pattern out there. Market was stretched, rule number three, the close must be in the opposite direction of the trend. That's what took place at two o'clock yesterday. And so my signal to subscribers, we're gonna have to wait until we get back from this break. If you're not currently using the TAS Profile Scanner when looking at setting up your trading opportunities, then your arsenal is short a mighty weapon. The TAS Profile Scanner is a standalone piece of software that instantly filters over 2,500 global financial markets such as stocks, ETFs, commodity futures, and forex. Heated by Steve Dahl, TAS understands that in today's technological world, the use of top flight software applications and technical analysis expertise is essential to successful trading in today's market. 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Hear all of the TFNN shows plus see all of the charts as they happen live and have access to archives of all of those charts. You can test drive The Tiger's Den absolutely free for 30 days and greatly enrich your knowledge of these markets and how to make your money work for you. Details on The Tiger's Den are on the front page of TFNN.com. TFNN has launched our brand new website. You can still visit us at the same TFNN.com URL but when you do, you'll see a new and improved homepage with a much simpler navigation whether you're watching Tiger TV live in high definition or just accessing your newsletter subscriptions. We even have new pricing in six months and yearly options. Check out the new TFNN.com now and experience all the upgrades. TFNN.com educating investors. Call now toll free at 1-877-927-6648 internationally at 727-873-7618. Welcome back folks. We're taking a look at key reversal bars out here. The one we're looking at is on the five hour timeframe chart for the ES mini. And when that formed and in last night's update, I said we should anticipate that the markets are going to push lower in overnight action whether it's overnight or early in the morning. And then we had some price targets for where price would push back to now. Specifically since we're live here, let's take a look at the responsibility of bulls and bears are to give us signals. So here we had this signal using Stevie's tools that said, okay, price should go ahead and push back to support. Now support on this chart, there's a couple of them, but certainly one level of support is the bottom of its current bullish structured market profile. That level is 2,987. We're trading at 2,989. Now, yeah, somebody out there might say, well, what about the big push lower during the day? So this candle here was being generated between 9 a.m. and 2 p.m. This candle will come to a close in about 40 minutes or so out here. And I'm not interested, not that I'm not interested, but I'm really not interested in the upper and lower shadow or upper and lower wick out there. It's really the body of the candle that is the essence of price. The upper and lower wick or shadows out there are nothing more than a screaming Mimi. Now, I don't know where screaming Mimi came from, but oftentimes it's like episode of psychological distress. And that's really what I take a look at is a episode of psychological distress during this five hours out here. And it's really about, so a close below support is what would trigger, okay, further moves lower. So in the case of the EES, many of that further move lower, by the way, would be 2855. That's where it last broke out using the TD set up nine count. So that is a key reversal bar, not a Japanese candlestick out there, and it assisted us. Now, in addition to the five hour timeframe chart, it was more than that. It was taking a look at the two hour timeframe chart. So even though it may not have shown up on my Bob system, my market analyzer out here, here you can see the two hour timeframe chart. I think we looked at this yesterday during the breakdown. An overnight action price found support, the bottom of its box, 29.89 out there. A close below that suggested, hey, look for 29.66 to become a target. What you'll notice here, but it's gonna be easier if I look at some shorter term frame charts for you. So let's go take a look at the 60 minute. On the 60 minute out here, what you're going to see is you're going to see a rose momentum indicator top. What we also can see is the A to B equal CD to the downside, or otherwise known as in this case here, because of the huge run to the upside, as I pulled this chart back, now I'm gonna go ahead and pull it forward out here, is an A to B equal CD pattern. So the A to B equal CD, we're gonna start at the high of that rose momentum indicator. We're gonna come down here. I don't have my cursor on, but what you're gonna see here is the A to B equal CD. Now, in this case here, we've seen a 1 to 1.272 A to B equal CD pattern. Using the 60 minute timeframe. We can see it may be in bar number four of a TD setup nine count. We're not gonna worry about that because we're too early into that, but what we do have is right now, and in the next nine minutes, it looks like we may have a bullish and golfing candle. So if you're a short term trader, or you're just trying to understand what the message of the market is doing on a short term basis, this would be signaling to you and I that as long as this bullish and golfing candle tier forms by 1.30 PM, we should anticipate that price is gonna at least bounce up to 2,993. 2,993 happens to be Stevie's red line. It went from green to red during the last hour or so, and we know that there's the phenomena with price in that line catching up to each other, doing a little bit of a kiss and tell out here. So that's a key reversal session. That's what we do here. That's what I do in the evening edition, the morning edition, so that folks can really anticipate for whatever timeframe they can understand what's going on. Now the shorter term timeframe charts may just simply be noise out there. Now, we had a request inside the Tiger's Den from Jimmy D to take a look at, wanted to look at the cues and other things. So I'm gonna kind of move into the cues by looking at the end cue out here, but in this case, I'm gonna take a look at the daily timeframe chart. So on the daily timeframe, we're gonna begin at least on the daily timeframe chart. Now remember we just talked about the phenomenon associated with Stevie's line, the oscillator and change line, changing colors, the comedian or the chameleon in it. And when it does change colors, it tells you about price and the line catching up to each other and the ensuing bars. Well, if we take a look here, let me get my cross here. We take a look at the end cue, the line change color looks like on October 14th and 15th out there. And that told you and I, and as you can see the one to one, A to B equal CD pattern to the upside. And so far today is a bearish engulfing candle. However, and here's the important point. However, we should have anticipated, we did anticipate that price and that line, we're gonna catch up to each other. That is nothing more than a retracement back to support. Stevie's red line or green line is nothing more than a key level of support or resistance out there. And we're not so worried about the screaming Mimi aspect of the day. We're really focused on the close of the session. We're focused on the body of the candle. Now, in this case here, if the market were to close right now, we've got a Gartley cell pattern. Gartley cell pattern to kind of looks like this. You know, you've got the A to B equal CD you're seeing and I'm not gonna worry about catching the swing points exactly out here, but just to color it in, it kind of looks nice. I'll get rid of the A to B equal CD. There we go. So there's your Gartley cell pattern that the problem is support hasn't broken on the daily timeframe. So do you take the short trade now? Do you take the short trade going into the weekend, believing that the change in trend has taken place? You can if you're an aggressive trader, I can see that. However, and I could have easily seen that years ago as I did without having this important tool, the oscillator unchanged line because you see until I created that what I didn't realize I couldn't differentiate between just a common retracement and maybe something that was an actual top or a bottom out here. So yeah, we've absolutely got a topping pattern inside of the daily chart for the NQ right now. That'll help you out Jimmy D with regard to the message of the cues. This is more important message than the one from the cues. The cues means you and I are just gonna use six and a half hours of data and I would never do that when we have more data to be able to help you properly interpret what the market is communicating to you and I. Now, if there were to be a close, there could be a close by day's end, below 78, 48 or somewhere right around there because that number is gonna change at Steve's floating green line right now. Then that would communicate to you and I that price would head back to 75, 68. However, Lee Corsa would say not so fast. And this one here is for Jay because we know that what Jay would like to know as you do inquiring minds want to know, hey, what's going on with the TAS market profiles? So when we go take a look at the equity futures contracts out here what we're gonna see Jay is that a new daily profile is attempting to form. Let me just go ahead and expand the chart so we know which one we're looking at. Okay, here we go. And what you can see here is Stevie's system. Let me move this data bar over there make it easy for everybody to see Jimmy D especially take a look at the bottom of that bar that's 77, 47, 85. So if price were to close below Stevie's green line in the end queue you would anticipate that price is gonna make its way down to 77, 47 out there. You would need to close below 77, 47 to really say that a change in trend has taken place. This does not mean that price will not explore the entire profile to say bearish structured profile out there and any key any close below 79, 12 today would suggest that that is going to be at least tested 77, 47. But Jimmy D, Jay and everybody else that are out there I caution you that although the profile is attempting to form I don't know if these are going to be the final numbers. We're using Stevie's advanced Doppler system out here. And so it's an early warning signal but it's a beautiful thing. So Jimmy D, that's what's going on inside the queues. Jay, there is your only new profile in the equity futures contracts. Press to focus. He wrote to the internet. All right. I'm certain you are or strive to be one of the best of the best at everything you do in life. It's the most common trait that we tigers and tigers share. If you're looking to become the best of the best when it comes to managing your money let me teach you to do what most wealth managers tell you can't be done, which is how to time the markets. I'm Steve Rhodes, author of Mastery Probability and for the last 12 months, Timer Digest has been tracking my newsletter signals which have earned me the ranking as their number one market timer in the nation for the S&P 500 for the last 12, six and three months. Timer Digest also ranks me as the number one market timer for gold as well. The fact is markets can be timed and I'll teach you the exact set of tools that I use that has transformed me into one of the best at what I do. Sign up for Mastery and Probability today by clicking on the newsletter tab on the homepage of tfn.com and get immediate access to workshops where I take you step by step how to use an extraordinary set of tools as well as provide great market calls too. Sign up today. The path of least resistance is David White's daily trading newsletter and if you're looking for active trading ideas then now is a perfect time for a 30 day free trial to this powerful daily trading advisory service. David uses his years of trading experience to offer his subscribers his trading ideas each morning in his path of least resistance newsletter. Using a combination of equity trades along with options, David keeps his subscribers up to date with all pertinent market information with intraday afternoon updates when warranted. Don't miss out on this great chance to get a 30 day free trial to David's daily newsletter the path of least resistance with no obligation to pay anything. David has been delivering solid recommendations for his subscribers recently and if you'd like to see the type of newsletter he delivers every morning then visit the front page of TFNN and you'll find the path of least resistance under trading newsletters. For all the details and to start your 30 day free trial today, log on to tfnn.com now. TFNN is excited about our new software charting program, the Art of Timing the Trade Charts. In collaboration with Tom O'Brien and using his best-selling book, The Art of Timing the Trade, your ultimate trading mastery system, David White has programmed an outstanding piece of software that will complement any trader's methodology. Using this first-of-its-kind program, the Art of Timing the Trade Charts allows you to scan thousands of stocks for Fibonacci formation setups, including guardleafs, ABCs, butterflies, and much more. The Art of Timing the Trade Charts is designed to help you when scouring the markets for stocks just beginning to form the trading patterns that many investors spend days, weeks, or even months searching to find. And right now we're offering licenses available at only $79 a month. We are so confident that you're gonna love this new charting software that will even give you a 30-day unconditional money-back guarantee. Don't miss out on this incredible new piece of software. Get your copy of the Art of Timing the Trade Charts today by visiting TFNN.com. This segment is brought to you by Think or Swim. For more information, just click the Think or Swim banner on the front page of TFNN.com. Welcome back, folks. Let's go out to Jim in Massachusetts. Jim, thanks for calling. Thanks for holding. How are you today? I'm doing good. I am improving each day. Thank you for asking out there. So yeah, be back to normal. I hope in about a week's time, just recovering from a little surgery out there. But thanks for asking. Now, is it alternative harvest that you're calling about? Yes, I, well, they have two questions. One is, it looks like MJ's trying to form a bottom, not sure. Okay, okay. And the second question is, could you explain the relative energy? I hear a lot of times you talk about relative energy is coming down with less relative energy going up with more relative energy. Can you explain that? Yeah, absolutely. So let's take, so let's get to your first question. Has this formed a bottom? One of the first things that we like to do, Jim, is just understand where is an instrument trading in relationship to support? And we like to look at it in a daily, weekly, monthly timeframe out here. So here's what we know about alternative harvest. It is trading above the top of its daily profile. That's at 1958. Today's pullback has been a test of that. If, I'm sorry, 1938 is the top of the box. If price closed above 1938, it could tell you of at least a change in trend and a further bounce higher. Whether it's a bottom or not, I can't use market profiles to assist me in defining that. The weekly timeframe chart says, hey, be careful. Be careful because price is well below the bottom of its box. On a weekly basis, this is not a bullish reversal candle, at least not just yet. Maybe it could be by the end of the day out there. And what I've noticed and take a look at charts is prices will continue moving lower until there's some type of bullish reversal candle. So it's not in place. And on the monthly timeframe, price is below the bottom of its box as well, 2713. So that's the flow that you're going against. With regard to tools that I use to help us identify bottoms, well, A to B equal CD patterns would be one of them. I'll open up this same chart out here. And as we take a look at ticker symbol, by the way folks, it's MJ, alternative harvest. There's not any way that I could really draw a rational on the daily chart, A to B equal CD to the downside. So we're not even going to attempt that feed out here. If I pull up in the weekly timeframe chart, I can say, okay, I can see an A to B equal CD. Now, are you looking at this as a longer term time period trade investment or just as a trade trade? No, more of a longer term buy. Okay, so here's the A to B equal CD pattern. The September 17th high is our A point. The B point out here is December 31st. The C point out here is March the 18th. And that gives you a projection, a one to one projection of 1686. Now price doesn't actually have to hit that level at 1686, but what needs to happen for your intermediate or longer term timeframe trade in order for me to say you should put your money at risk, I need to see this pattern complete. And in order for the pattern complete, I need some type of bullish reversal candle. So we don't have that yet at 1.33 in the afternoon. We could buy four o'clock, I can't control what's gonna take place between now and then. But if we don't get it, then you want to hold off on that longer intermediate term trade. And price doesn't have to stop at the one to one level. It can move to the, it can be an expansion of the A to B and the expansions I use are Fibonacci expansions. Those would be 1.272, 1.618. That means 127% of the move of the A to B leg or 162% basically of the move of the A to B leg. So it's 1077 is not out of the question, taking a look at the intermediate term timeframe. So I don't see a bottom there per se. As I pull over the weekly timeframe, my white background charts, what they show is that this week is going to be week number seven of a TD set up nine count. For that pattern to confirm, we need to see the low of the count take place on week eight. In this case here, it's a weekly chart, week nine or the following week after that. So this could be weeks away before it would generate that intermediate term bottom. The A to B equal CD pattern is still in play. If you got a bullish reversal, you'd be okay. The monthly timeframe chart, we just don't have enough data. It hasn't traded enough for you and I to be able to use this to help us with our intermediate or long-term trade. So you ask the question about price, when I say using energy. So when I take a look at energy out, there's a couple of different ways to do it. But the one way that I'm referring to is I'm referring to the relative strength indicator. Are you familiar with the RSI? Not really, I'm not really familiar with that. Got it, okay. So if you'd like to become more familiar than just what we'll do in the next minute here, sign up for the Mastering Probability newsletter. I don't care if you use it for two days, but there's a workshop on there to go through it. It'll really help you out. But in essence, when we take a look at the relative strength index, I won't go through how that is created, but Wells Wilder is the guy, the gentleman that created it. I've used that tool to create my own proprietary way to be able to use this to help us identify these tops and bottoms out here. And if you take a look at in this case here, if you're watching us on Tiger TV, if you're not, just simply go back to the archive. But on a five-hour timeframe chart, what we can see is that at two o'clock in the afternoon on October 2nd, that is when in this panel that we're taking a look at, the RSI was at its lowest low, but that was not the lowest low in price. The actual lowest low in price took place on a big move down at two o'clock in the afternoon on October the 3rd. And as price was pushing down, it was doing so with less relative energy. How do I know that? The relative strength indicator was a higher low. That's a diverging pattern out there and that's what I'm referring to. If we take a look at the session yesterday at two o'clock in the afternoon, the highest high from the relative strength indicator came at two o'clock in the afternoon on October 11th. And yesterday at two o'clock, price made a higher high, doing it with less relative energy, meaning the relative strength indicator had made a lower high out there. So those would be the answers to your two questions. So summarize is now a bottom inside of MJ, not with regard to the tools that I use, but I do recognize and I'm not saying that price won't move higher because if price does close above the top of its daily profile, price is very likely to head higher in what I would consider to be nothing more than a counter trend move just yet. Okay, thank you. Does that help? Yes, it does. I appreciate your show. Oh, and I appreciate you listening and go back, watch the archive. You'll see those five hour charts out there. And again, if you really wanna understand the details of it, you're trying to improve your technical analysis or learn some new tools, just subscribe to the newsletter. You can get it for 30 days. You can cancel on day 29, you're not charged anything or you get your money back, whatever it might be, but it doesn't really cost you anything. So thanks for listening and I look forward to talking to you again soon. Okay, have a good day. You bet, you bet. We had, let me get to the questions, the other questions that have come out here. Bradley writes in and Bradley asks a question. Please let me know if the higher something goes, if you, meaning me, automatically, automatically get more and more bearish on the instrument due to the natural belief in cycle theory in your work. So first, I don't use cycle theory a whole lot. For me, cycle theory in essence would be, there's all different kinds of ways to do it, but so I don't really use cycle theory per se. And the reason that I don't, I mean, I'm familiar with the annual seasonal cycle. So I use that certainly as a guideline, but what I use to determine highs and lows and so to answer your question, the higher something goes, do I get more bearish? I believe I was the first one with inside the TFNN family to say, you should expect the NDX100 to make its way to 87,88 and you should expect the Dow to move up to 34,83 even 39,133. No, I do not believe that the higher something goes, I get more bearish. When it goes higher with less relative energy, then that tells us of a top. We'll be right back. If you are in a CD market and looking for a secure investment, the Tiger First Mortgage Program may work for you. The security for these first mortgages are building lots in the tax opportunity zone in St. Petersburg, Florida. The Tax Act of 2018 set up tax free zones across the country where you can build and hold for 10 years and pay no tax on the profits, which makes these lots valuable. The investment is anywhere from 30,000 to 75,000. The interest paid is 7% yearly paid on a monthly basis. According to bankrate.com, the best rate for a four-year CD in the country as of February 20th is 3.1%. A $50,000 investment at a normal four-year CD rate of 3.1% would give you income of 1,550 per year or 6,200 over the four-year period. That same $50,000 investment in the Tiger First Mortgage Program would give you 3,500 per year or 14,000 over the four years. What should you prefer? 6,200 or 14,000 of interest on your investment. If you'd like more information about the Tiger First Mortgage Program, you can call me at 877-518-9190. That's 877-518-9190. If you haven't checked out the newsletters page of TFNN.com, what are you waiting for? All of the TFNN newsletters are informative, up-to-date, affordable, and a must-have for every trader looking to gain a competitive informational edge in today's markets. 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Look, if we get a bullish reversal candle today, which would mean, not what I would mean for the week. So price makes its way up and then it might have bottomed, Michael. And then today was nothing more than a test of breakout support at the top of its daily profile. But without that bullish reversal signal, I'm unwilling to make that call. Just simply, I'm a pattern recognition person. I use these patterns to help us identify what the market is communicating. The markets can bottom without these patterns. It's just, I look for these patterns to complete because they increase our probability of success, of a winning trade out there. So at this stage here, Michael really kind of need to see how this closes today. But at this stage, as of 143, it looks like it'll probably do that and maybe even head lower. But 1840 would be the next level of support on any close below 1938 out there. So thanks for writing in. And so Bradley, what I was talking about here, Bradley, is if I take a look at these longer term, these are quarterly timeframe charts, but they really help us to get rid of the noise in the market, right? When we take a look at what's going on at a daily basis out here, up or down, it's a lot of noise. It's especially for the long-term trader out here. These are patterns that have been, this I had to go look, search for this sheet here, which I think is several years old by now, at least a couple years old, many years old by now. But it was pretty easy in the NDX 100 when it broke through this long-term consolidation and consolidation then went back to 1997 or began in 1997. And it didn't break the consolidation with conviction until 2017. Fairly long period consolidation. Once you break a consolidation, you have a measured move. The measured move takes us up towards 1.272A to B equals CD. That gives you the 8,600 area. Do I think the price is gonna stop there? Hell no. Now, are we gonna get there overnight? No, but these markets, the US markets, until something else changes, is where the global flow of capital is coming to. And no matter what all this stuff, even the political nonsense, and you've gotta agree with me, no matter what side you're on, you don't have to agree with me, that there is a lot of BS before Steve, nonsense that is out there. But with regard to the markets, stay focused on the longer-term picture out here. The S&P's got a confirmed A to B equal CD to the upside on a quarterly basis. It's not even close to its target just yet. Well, maybe it's close from the standpoint of 32.78, but this pattern says it's going well beyond 32.78. It will not surprise me that we, let's hope that we're together, and we see the S&P at 41.85, and the Dow at 39.133. And it's just really important that, no, I don't have this belief that as the market continues to move higher, that that means that you get more bearish, not at all. We just simply wait for a pattern to complete, and then that tells us or suggests to you and I what the intent of the market's next move is. So I hope that that helps you out there, Bradley, with regard to that. Jay, you'll be alive. It's only a few years away. Wait, wait, everybody else close their ears. Jay, it's likely just about, let's call it 48 months or so, maybe 50 months away before we see that move. You heard it here. In fact, but you heard it years ago. And anyway, let's get back to the radio show out here. Let's take a look at a question from Michael H. Michael wants to take a look at Chronos Group. That is C-R-O-N. That's the ticker symbol out here. So the question is about yesterday's candle. Okay, so let's take a look at, okay, what's the question out here? Accumulation or distribution? Well, now that I don't know. Price increased dramatically on high volume, that it appears there was more selling than buying. When looking at the volume on a 30 minute timeframe, might consider going long at a buy point, but more interested in my analysis of yesterday's candle. Does it tell us any kind of a story? And you take a look at this specific candle here, you see volume out here, and that was in essence, volume off of the bottom. That was a sign of strength. So for just simply to use Tom's book, The Art of Timing, The Trade Out Here, when something's making a bottom, and I'm not saying that it made a bottom out here, but just simply utilizing those tools, what he would be looking for is a sign of strength out there. And it moved higher yesterday. It was not the bottom candle, so it didn't make a high volume low or anything like that, but certainly came off. And Tom would suggest to you, or at least the book would suggest to you, maybe Tom would suggest it, so I don't wanna put words in his mouth. I will just tell you my interpretation of that meaning of a sign of strength is you wanna wait for a light volume pullback. Well, Michael, you've got that light volume pullback out here. Now maybe Price is gonna pull back even further, which would be pulling back to 781 and 801. That's your swing point at this stage here. That's the swing point from October 14th. And if you're fortunate enough, this is just simply using the art of timing the trade or Stevie's art of using timing the trade out here. If you were to see Price get back to at least $7.95 and reject that level, meaning close back above it and do it with less than four million shares, well, that would be your signal that you had the sign of strength and Price pulled back on lighter volume. Now what we do know in the month has an end is Price is testing the level of support, the bottom of its monthly profile at 836. But let's go take a look at that weekly chart. Remember, you and I, we began the show because of a question that Greg H had, it was a key reversal candle. Remember, in a key reversal candle out here, you must be in an extended condition. Well, shoot, you and I can just take a look at this chart and see we're in extended condition out here with regard to its move down. Number one has been accomplished. Number two, the bar high and low must exceed the prior bar high and low. It's done it. And number three, you have to have a close in the opposite direction of the trend. Well, as of 1.49 in the afternoon, we've got it. Now, if we take a look at the weekly timeframe chart, should you go ahead and enter a purchase right now? And Stevie's gonna say, whoa, Nelly, not a chance. Why not? Remember, we also talked about the phenomenon when Stevie's green red line changes color, which in this case here it did on the week of August 30th, that it tells us we're going to see an eventual test of price in that line. And that line is red. And the worst thing you could see is a test of that line and a rejection out here. And that is what has taken place this week. Now, Stevie's red line is at 10.69 right now. The actual high so far has been 10.56. So someone can say, well, geez, we've missed it here by 13 pennies. But that can be your interpretation. It ain't Stevie's interpretation. So yeah, we've got a bullish candle. I don't think we have an A to B equal CD to the downside yet. I think that price is lower out here. The one one is 627. But at this stage here, what I would say is I wouldn't touch it with a nine foot pole, which also means I wouldn't touch it with a 10 foot pole. Because what you've gotten on a weekly timeframe is actually a bearish message out here for Chronos Group, C-R-O-N. Again, it doesn't mean that a bottom hasn't formed. It's just that Stevie doesn't see it with the tools that I use here to help you buy bottoms or sell tops. Steve Roach with TFNN, we'll be right back. Since 1984, Basil Chapman has been using the Chapman Wave methodology to advise traders of his expert market opinion. While originally hand drawing charts from the late 1970s into the 1980s, Basil noticed that prices under most circumstances virtually always had a certain number of legs to the upside before declining sharply. Later Basil found that computer software which included the standard market technical indicators enhanced the degree of accuracy in calling price turns as well as market trend calls. Thus was born the Chapman Wave sequence. Using the Chapman Wave methodology along with other indicators, Basil Chapman advises his subscribers of his expert market opinion each market day with his opening call newsletter. Right now you can get a two week free trial to the opening call Basil's daily trading newsletter by visiting the front page of TFNN.com. Cancel at any time during that trial and pay absolutely nothing. 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They've been called miracle molecules because, like sunlight, air and water, life cannot exist without them. That's right Paige, they ensure we receive all the nutrition we need to be healthy and thrive. We take it every morning. Primal-edge, formulated and approved by Nico and Paige of Living a Primal Lifestyle. Buy it today for just $89. Click on the Primal-edge banner on the front page of TFNN.com. This is David White. Stay tuned because coming up next is the power trading hour, right here on TFNN. Folks, two more instruments to get through. Victor had called in and he was asking about ticker symbol T-U-F-N, toughen software. Victor's question was, is this pulling back on light volume? Is this a good time to buy? So we take a look at this. This is an IPO that came out back in April of this year and everybody that is a holder of the stock is underwater for the most part with the exception of just a few shareholders out here. So nobody is having fun at the toughen party. Is it pulling back on light volume? Well, if you take a look at the most recent Swing Point Low October 14th at 293,000 chairs, right now you're at 166, seems like lighter volume. If your question is now a good time to buy, my answer is gonna be no. Now, not that this may not have bottomed out here because it does have a Rhodes momentum indicator bottom signal, did that on October 16th when it generated the bullish bull sash candle out here. Here's the reason why I'm saying no out here, Victor. I'd like you to have more proof, especially on an instrument like this when everybody is underwater. Now everybody being underwater, just so you know, that means that if this instrument does move higher, you're going to have lots of selling pressure. I mean, in this instrument alone, think of the folks at 29 and 28 and 31 and 32 and 24 and 22 and think about what's going on in their minds right now. Do you think they're doing the little rain dance, the little prayer that says, please, please trading gods, just let me get my money back out here. Now, here's the issue. The other issue you have is that price has not been able to get above the bottom of its daily profile, 1657. So that is a resistance level. And I say be very cautious out there. The last one was GASL. We've got a couple of listeners that are interested in that. The question is, has this bottomed out here? Well, right now price is trading below the bottom of its daily profile. And that level is $6.56. If it closes below that level before four, it looks like it's going to close below that level at the end of the day. Just have a small, small little loss on that. I'd say just take the small loss because you're not getting the warm fuzzies in GASL. Hey, folks, thanks so much for being here. Have a fantastic weekend. I look forward to seeing you on Magnificent to Marvelous Monday. Stay tuned. David White, your favorite polar bears up next. Tom O'Brien will take us on home from three to four and I'll see you Monday. Take care.