 The following is a presentation of TFNN the Traders Edge with Steve Rhodes 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 July 18th the terrific Tuesday edition of today's Traders 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 let's make sure we have an extraordinary one now 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 can make that one little two-by-four shift that 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 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 you can dial on in at 877-927-6648 would love to hear from you if you've got a question but you can't call in you can always send me an email send that one off to Steve at tfnn.com and inside the subject heading please put radio show question of course if you're inside our Tigers debt well then any and 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 right now we got a bit of a mixed bag the mix goes like this the NDX 100 down 51.3 tenths 1% for the semis that's a 39 point move and about two tenths for the NASDAQ composite down 22 points otherwise us indices are trading to the upside dowes up 377 little over 1% for tents for the S&P or 16 1% for the Russell 20 points 2% plus for the trainees S 343 and 8 tenths for the New York Stock Exchange gold is up 1 and 6 tenths percent that's a 31 point move silver's up 37 cents one and a half percent there lights we crude up a buck 20 that's trading out at 75 27 natural gas up eight pennies trading out at 259 the 30 year treasury 12706 is the print there leading the charge now dollar wise the upside you've got our genics s e that's up 32 bucks nearly 7% old Dominion 5% or 21 bucks United Health 19 bucks 4% Chipotle 17 dollars and change that's an 8% move inside of the freight company of $17 that's nearly 5% to the downside it's Massimo corporation down 32 bucks 22% IDEX laboratories down 2 and 7 tenths percent or 15 bucks Align technologies down 12 KLA Corp down 11 inch chains of Pellis pharmacy down 17% that's a $9 move to the downside of course I want to look at what you want to look at only one request so far let's do this here let's start off our day I take a look at where we at with regard to market breath seems like an easy thing to do more importantly what's going on with regard to the NASDAQ 100 so let's begin with our 30 minute market breath speed dials we can see we've got 213 instruments trading above the top of a 30 minute profile that means they're trading above resistance versus 80 trading below support that would be the bottom of the profile that's the S&P 500 let's get the read on the NASDAQ 100 NASDAQ 100 numbers show 28 above 15 below so the NASDAQ is bullish for its 30 minute time frame as is the ES many let's take a look at those other four time frames so there's a 60 to 40 daily and weekly and for the S&P 500 oddly enough that's the S&P that for its 60 minute time frame shows negative market breath I didn't expect to see that with regard to the NASDAQ 100 it's bullish across the board so the industry that is struggling the most let me just make sure that we've got that yeah and it's just barely negative on the 60 minute 170 to above 176 below so it's kind of a flat signal with regard so basically we got positive market breath you'd have to say across the board for the S&P and for the NASDAQ so let's go take a look at what's going on there we're also let's take a look at Peter will ask the question so we'll circumvent that here Peter if we take a look at the New York Stock Exchange the advanced client oscillator what we see here is this thing got into the oversold area I'm sorry over bought level back in July the 13th and the prior day as well when it got above that plus 150 prices working off that oversold condition now the last time that we saw a little bit of a decline out here what we saw was a we saw declining stop you can see this right back here declining stop in the advanced client oscillator one day does not make that move along with price moving higher so that's a pattern that pattern looks like this let me just get a green drawing tool out there come on give me that here we go green line so here we can see we've got rising price right now potentially in the face of a declining price advanced client oscillator out there so if that pattern remains that's just a signal to expect to anticipate some type of retracement while the overbought condition gets worked off out there so that's that what else do I need to show from here equity futures there are no new profiles out here to speak of I don't recall if we were looking at something yesterday if we were they did not take hold out here so the ES mini above resistance the same with the NASDAQ the Russell 2000 the IWM they have confirmed A to B equal CD patents with an initial price projection for the Russell 2000 being 2030 and the Dow is now trading above the top of its weekly profile that's 34888 so that's suggested to you and I that it wants to go target it's a 12 this December 13th I believe was December 13th maybe was the 15th but the top from 2022 up at the 35 768 area is where the price is likely targeting so that's it for this set of charts out here let's go take a look at my other set of charts let's get those over to this version we're going to change our panels out here momentarily we'll be on the white screens and we'll take a look at the ES mini out here so if we take just a moment in time the ES mini upper left hand side so you'll see that price is moving higher doing it with less relative energy that's what's triggered that roadsman dominicator black line out there but that requires a bearish reversal candle to confirm a top you would never just take that first signal and say okay that's your top but it's not that the way the market communicates to us is it generates those bullish and bearish reversal candles the beauty is you only need to know seven of them not like 40 or 50 or 60 or 70 or even 10 you just need to know seven because if you know the seven bullish ones that means you'll know the seven bearish ones because they're the exact opposite in the case of the five hour time frame chart here for the ES mini price right now trading above it's a it's a topping signal that formed at five o'clock yesterday and a close above 45 65 75 will suggest a further move higher the same is said the same can be said for the four hour time frame chart for the two hour time frame chart so that's number to be watching there on a 60 minute basis I don't see any kind of a top I see roadsman dominicator signal that's now been negated out here boy things are looking very bullish for the ES mini when I look at even the shortest term time frames like the 10 minute chart out here the 10 minute chart shows a negated TD 9 count top out here so it looks to me like we've got at least some more time left in this rally before there's any kind of a pullback at least I would have to say another I'd have to go 30 to 60 minutes would be the likely time frame where before you get some type of short term pullback out there that's what I see when I take a look at those charts for the ES mini out there Steve Rhodes with TFN no questions yet although I take that back we've got we've got two questions so we'll get to those as soon as we get back from the spree 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.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 basal 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 basal 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 a 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 it is 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 back up folks let's go take a look at a couple of requests that have come in of course i'd love to hear from you as well 877-927-6648 or you can send me an email steve at tfnn.com of course inside the tiger's den well any and every ping will do so let's go to a question coming in from duffy the first question is take a look at exk the exk right now printing out exk make sure it's printed out 381 on my white screen let me just make sure yeah 383 is what i've got on my other screens out here okay so here's what we know about endeavor silver and it's on a tear and what it apparently should do out here duff is make a run for four dollars and 21 cents you're in bar number six of a td9 count and now you can see we have been up a number of consecutive days in fact today will be bar number five to the upside so it says to expect and anticipate a retracement there could be just simply a two bar retracement um out here we can see uh this has had basically this this has not yet had a chance to do any kind of retracement out there that doesn't mean it's going to start uh today after today out here but uh i'd expect one to start soon but still looks good looks like it wants to target 421 on a weekly basis out here what we have is price right now is trading above the top of its weekly profile so this is in change in trend mode the top of that weekly profile was 339 you closed above it last week looks like you'll probably although it's only tuesday closed above it this week so anything can happen this is suggesting to move up to 426 now you got a nice td9 count bottom on the weekly chart out here you've got a td9 count bottom on the daily time frame chart you've got wave number seven as well out there everything looks good so your next area your next price targets are fourth the 21 426 and 456 that's what i see when i take a look at endeavor out there but again uh pay attention uh when i say pay attention we should expect you should anticipate duffy some type of retracement to unfold just simply because of the number of consecutive days the upside chances are that may start when we get that confirmed top inside of gold so that may not take place until tomorrow or the next day out there so hope that helps you out with regard to endeavor silver that is on a fire next request uh from um from from b bolt here i think so so the question was a take look at the financial sector and i gave a number of different symbols out here i'll focus on two of them and the first one will be bank of america they were out with earnings today so what do we have here in bank of america on a daily time frame we have a b-point out here that b-point looks like that formed here on uh june the 13th volume there about 42 million shares and today so far you're up with 48 million shares so now in the case of bank of america you've got a confirmed a to b equal cd to the upside so if we take a look at we'll just kind of draw in here the a to b or the proxman a to b i'll just simply move that over to the c-point out there and you can see we're beyond the one to one level so i'll have to do this on my other screen just to give you a price projection uh levels out here so i'll do that if you give me just a moment i'll give you where the one to one point two seven two is located actually i even draw in the better the larger a to b equals well there's several a to b equal cd patterns i'm going to draw in the larger one though first because that's one that's really being taken on i'll show you in a moment so the swing point on that one has 114 million shares i'm going to switch screens over here and then we'll come back so we'll go back and forth so it's really a couple different a to b equal cd patterns uh bolt that we could draw in here the first one that sticks out to me and really you know what now that i draw i've drawn it i say that's not the a to b equal cd pattern because the retracement here was 88 once you get beyond 0.786 it really becomes more of a consolidation but what i did at least see on here with regard to the pattern is here's a swing point price is going into so bank of america has headed into the swing point from april 18 that swing point had 114 million shares so you've done 52 so far you're pushing into that swing point with volume price should at least test that high and that high out there is 30 dollars and 93 cents now can we draw in the smaller a to b equal cd we can it looks like this or approximate looks like this i'm not sure if that's the correct a point out there i know the b and c are correct uh it looks like that's the proper a point so you're beyond the one to one one to one point two seven two would take up to 377 now when we look at the weekly time frame charts out here what we can see is that price is now above the center of that profile odds favor price target of 3166 and we look at the bottom of the monthly profile we see 3171 so you've got a confirmed smaller a to b equal cd to the upside in bank of america you've got 3166 as resistance at 3171 it looks to me like that's where price is headed to so i hope that helps you out both but you also wanted to take a look at other instruments let's take a look at the industry let's take a look at the etf the xlf out here and see what this is doing now the xlf already had an a to b equal cd its b point was back from april 19 the volume there was 39 million shares when it was passed it was passed with 52 million shares back on june 15 it's now at the one to one point two seven two a to b equal cd price projection area which is 35 25 it looks like that's what it's going to target price is trading above the top of its daily profile that resistance is 3474 so close above that pretty good odds favor a further move higher when i take a look at the weekly chart out here the weekly chart shows us that we are above profile as well that then suggests that we that we resort back to the monthly profile new monthly profile for me now in the month of july with resistance up at 3643 so we've got two price targets here for the xlf the first one 35 25 that's the one point two seven two c to d expansion of its a to b leg and then we have 3643 that is the top of the monthly profile for the xlf let me uh get the xl fired up on my other charts just to make sure that we don't have any other top being pattern okay so we do have something to consider out here so let me come back i didn't i'll put the bank of america but i don't recall seeing it for bank of america but just to just to be thorough and make sure so here on the xlf what we see out here bolt is word bar number eight of a td9 count now so what does that mean that said you could get a top that forms between this weekend two weeks out from now so how are we going to know if we get a top there well the easy way to know or the first signal would be we would get a top on the shorter term time frame so i'd go back to the daily we get a topping signal on the daily time frame such as a sell the d-point pattern then that would be telling us or could be telling us on the xlf we've got that intermediate term top out there but not until we get that bolish re or bearish reversal candle on the daily time frame do we worry too much about the weekly bar number eight for the xlf so hope that helps you out with regard to what you were looking for and that provided you with the information that you wanted um elo can we take a look at corn we can look at corn zc i believe we should be in the november contract nope that was not correct are we in the uh december contract okay so let's pull up corny out here see what we've got going on for corn although is that the active contract and yes i can hear where are we at on my stuff corn corn corn uh september actually is the active contract let me give you a december and uh september out here so you wanted to take a look at corn correct elo so when we take a look at corn out here all that i can share with you is that price right now is above the top of its daily profile this for the december contract that's up at 508 80 that suggests to me that want that this wants to rally further rally further to where that's a great question 523 79 is a key level of resistance on the weekly time frame that you want to see december corn close above if it does that then you're up to 560 25 zero two t of an n hope you're right back old 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 obrien 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 obrien's gold report newsletter now at tfnn.com tfnn has just launched their new trading room the tiger zen 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 and now they're expanding their reach with the tiger's den available to all tigers and tiger's for just one dollar for the year there's no cash or added costs when you join our community of traders in the tiger's den you can look over the shoulders of tom obrien and the other tfnn 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 tigers as they share trading ideas news analysis and discuss the market action all trading day even at night and on the 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tfnn.com or on tfnn's youtube channel and become the investor you were born to be tfnn educating investors don't forget you can listen to tfnn live on your mobile device 24 hours per day go to tfnn.com then hit watch tiger tv that's tfnn.com then hit watch tiger tv welcome back up folks so ELO with regard to corn for the september contract you can see price right now dealing with resistance at the top of its profile daily profile that's up at 5 14 25 and 5 1807 right now is the top of the weekly profile so the september contract dealing with resistance levels that if it can be if they can be cleared which suggests to run up to 5 26 to 5 46 so i hope that helps you out next question that came in this came in from uh wrong charts give me oh let me get a question about that but it'll come back to that first question coming in from hector hector wanted to take a look at i w o happy taco two for tuesday i w and x le like a to b equal cd price projection areas so that being the case to even should have read the question i'm going to switch over to the black background charts uh hector so we can take a look i've got the better a to b equal cd tool there so let's move over here let's take a look at i w o and i w i that won't work i w o though will go ahead and pull up the symbol that is the i shares uh 2000 growth etf out here so we take a look for the a to b equal cd patterns what we really have out here hector as you really have a consolidation inside the weekly time frame chart so that's the bigger pattern out here right if i've tried on the weekly basis i don't be here if i the a point would have to be down here on june 13 the b point would have to be the high that formed on august 15th and then the c point would probably be the lowest either the from the week of september 26 or uh october 10th right now it doesn't matter which one i use we're going to be at 84 so we get below 0.786 um really the a to b equal cd patterns kind of go out the door here so instead what we do have is you've got a uh consolidation panel looks like consolidation pattern the price is trying to break through and as you know that would give you a measured move that measured move would take you up into the 293 level that's coming from the weekly time frame chart when i look at the daily chart certainly there we can draw some a to b equal cd patterns but really we can't and we could do anything we want but look we're just we're dealing again with this low all the way back here from june and then that retracement all the way back in here so not really a great for the a to b equal cd patterns out here hector the second one that you wanted to look at but you do have that uh consolidation breakout you wanted the energy sector the xle so let's pull up the xle i still have the daily time frame chart up and you want an a to b equal cd patterns here too wow okay so i don't have anything that i can really show you when i take a look at this daily chart share the daily chart we really have that same thing if i were to try to draw an a to b equal cd to the upside out here well i'm using the swing point from uh june second and then it pulls all the way back in that swing point on june 23rd so no a to b equal cd there if i were to try to make it to the downside well i've got to get priced to close below that swing point from march 16 so happy two for tuesday daily a to b equal cd price projections please this i'm on the daily there isn't one so what we do have with regard to the xle now let me uh so i'm going to go back now to the white background charts so we'll take a look at the patterns for those two instruments that may be important so the first one is i w o top bar number nine on a weekly basis so this says we should see a td nine count top that completes forms forms this week and completes next week so what would we be looking for in the i w o maybe a td nine count top there as a well let's take a look at the second instrument which was the energy sector xle let's see what kind of patterns we have here and here we don't have any pattern to speak of per se consolidation with inside the weekly profile that's really about it so hector and patty hope that helped you out as best i could with regard to xle and uh the uh xle and the i w o nancy is asking the question will apple resume its move higher you know nancy the answer to that will be determined based upon where price closes price what price did yesterday was trying to take out in fact it did it closed above resistance that was the top of its profile 193 53 we're trading back at that area right now so price is up here where the sellers are at if anything proved that point to you yesterday it's the price action today so you're asking well resume its rally and stevie says at this date here i don't know price has got to overcome it's got to close above at least the oscillator and changeline let's say and that's going to be up at the 193 84 ish area out here with regard to the weekly time frame chart we've got no top the only way we get up top is if apple this week is able to exceed 194 48 the high so far for the week 194 32 so it's missed it by a smidgen so now nancy if you do get that rally this week and you get a move above what's listed as bar number seven on that weekly chart you're then going to trigger a potential weekly get a complete a td9 count pattern on the weekly basis out there so um i just want you to prepare for that that apple could we don't have that signal just yet but what to be able to watch for so your question was will resume its upward move today my answer is right now no because prices blocked by those sellers are sitting at the top of the profile that gave you and i a competitive advantage that others didn't have so hope that helps you out with regard to apple thanks much for the request we took care of corn so now we need to go to gbh ph's question and that was a take a look at the intraday charts here for goldilocks so let's pull that up on our screen but before we do that gp hph we've got to take a look at bar number eight that is now completed inside of gold for well it will at day's end or it should at day's end unless we see some kind of wicked sell-off here now i wasn't too sure i would look up you know you all know that i'm i'm a big bowl gold i think gold has made a major did i say major a major bottom out here time will tell right but in this case here now it looks like what gold is signaling to you and i's we're getting ready for a timeout that timeout could occur anytime between today and thursday as it goes on to complete a td9 count top tomorrow all that needs to take place for gold this must happen this is a must it's not a maybe gold must close tomorrow above 1963 80 if it does that you will then have a confirmed td9 count top that pattern will complete on the following day that would be on thursday when i look at the five hour chart no topping signal there nice not td9 count bottom the same on the four hour time frame chart we did get a uh on the two hour time frame chart we are right now in what could be a td9 count topping pattern formation we are in the bar following bar number nine this bar will complete in at 12 noon in 23 minutes out there any other topping signals and the answer is no well yeah i've got one on a 15 minute basis but i'm not going to worry about the 15 minute chart out here so with regard to goldilocks i know you want to look at the interday and so from an interday standpoint looks like we still have it further move higher although you got to keep your eye on that two hour time frame chart because that is a valid top that it's going to complete in another 22 minutes out there so hope that helps you out gphw with regard to gold tim rodin he wants to take a look at the onion on on so let's get back to my other charts let's get this populated and let's actually go back now and read the question this came in by email and the question goes like this from tim m good morning could you please take lead on on the running shoes out there you're long that position please look at support levels for daily and weekly support level for daily is going to be old resistance top of that profile that price is trading above 33 29 that's going to be your area of support on the daily no resistance right now that sticks out well support on the weekly could be 34 that's the top of its weekly profile prices trading above it right now because the week's not over that's also resistant so your resistance level on the weekly is 34 you close above 34 that could become support again you got 33 29 a support on the daily time frame and a new weekly a new monthly profile that we'll talk about we get back as we take a look at the running shoes when 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 Pesavento 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 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 8664767523 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 folks look at the stock chart here for on the the gym shoes that are out there I have a pair and I got the new pair I like them I don't think they're great for running them you know and I don't run that much these days I ride a bike so but I don't I think bricks are you know better for for for running than these shoes but that's not what the question is the question what is the stock chart doing here so it forms a nice TD nine count bottom does this back on May the 25th that runs up to form a TD nine count top does that on June 9th price pulls back into its bullish structured profile at that time on a daily basis and now it's in an A to B equal CD pattern so what you're watching for here Tim is a bearish reversal candle if you get a bearish reversal candle that will set up a sell the d-point pattern right now prices taken at a weekly swing point the weekly swing point was May the 5th that had volume there of 16 million so far you are already up with 9.5 million so it looks like it's pushing to that swing point with volume now if price closes above that you'll have an A to B equal CD to the upside I can share with you that the one-to-one price projection would be 44-48 which would then get us back to the TD nine count breakdown resistance level 40-22 so what do we say about on on this pushing to a weekly swing point that could form an A to B equal CD to the upside it needs to close above 34-88 at week's end the daily chart is bullish but if a bearish reversal candle were to form that would confirm a sell the d-point pattern out there price above resistance out there at 33.29 only a price were to get below that with that sell the d-point should it unfold really gain any kind of traction out there so that's what I see when we take a look at ONON the next request is to take a look at NTRS this is for John Z NTRS so let's get that here on the screen and give me a moment oh my goodness let's get that there we go and the next question from John Z next small text uh Northern Trust NTRS if you could bring up your longer-term charts NTRS doesn't seem to want to fall below 69 I want to see NTRS go to 100 they report tomorrow what price would you buy NTRS if you wanted to hold onto it for a year so NTRS would sell me see what screen I'm on I'm okay I'm on the white background screens NTRS what what would I want to why would I want to buy NTRS so at best case here John you've got a consolidation I'm at best case so I'm going to open up the daily time frame chart we can see here that this formed erosement to indicator bottom back here it actually formed on May the 15th uh the low out there it's a key low is 69 54 you get below you close below 69 54 and this is uh this is this would be major trouble out here so forms up bottom moves higher moves back to retest that low moves back up higher we're now retesting that low that low or those bottoms out there again the volume was about one million shares we came down into that a few days ago let's find out how much volume we came into it a few days ago two days ago to be specific with 2.8 million shares so this moving into a swing this is just a consolidation so you're asking me where would I buy a consolidation pattern at at the bottom of the consolidation where it was yesterday what I want to I don't know I don't know but but that's the answer to your question where would you buy it you know from a long term hold the problem with that is there's no long term bottoming patterns out here that are worthwhile you can see the real consolidation on the weekly chart you can see that 75 86 level John Z how that is a key resistance area so I'm just not feeling here with NTRS but to answer your specific question where would you buy it you would have bought it basically at yesterday's low you could still do that here if you've really got a hankering for NTRS best of luck to you there Ann writes in I meant that in a good way Ann writes in and she says hey Steve I'm learning a lot from your expertise and love your show well great that's great thank you for listening I think I heard you say that gold might shop around in the next couple of days and then retrace downward a bit yes I sort of said that we carved that my question is is it too late to try to get into gdx at 31 30 as you're back into the other day or do you think there may be another chance to get in at the lower price than today so that's a great question I don't know the answer to that but let's pull up the charts here specifically for the gdx which you asked about so we covered gold so we don't need to go back and take a look at that the pattern again that we're looking at there is a TD9 count top that under daily timeframe should form between today and Thursday out there and that's the reason that as Ann is saying here Stevie is expecting a retracement now that retracement may just be two days out here with regard to the gdx this has a confirmed A to B equal CD to the upside it doesn't have it's straight and above resistance levels out here there's a new daily profile that formed yesterday I didn't realize that and price is trading above right now at 32 40 so what gdx suggests to us that it wants to do is move up to its breakdown level at 35 35 the weekly timeframe chart is trading above the top of a new profile as well that formed this week last week how about that 32 40 so this is all really strong stuff that's suggesting that gdx wants to make a move to 35 81 but what you and I know and is that gold and the gdx typically not always but typically move in tandem with each other so when I enter a long position now in the gdx knowing that gold is likely to form a TD9 count top between today and Thursday the answer is I would not and what I would wait for is I'd wait to see if that top takes place well no tomorrow I then wait to buy a pullback out there and what you're probably looking at is like a two day one day two day pullback out there at least at this stage again but what you'd really want to do and you'd really want to be focused on the gold chart if gold then makes that bottom makes a well you know two day pullback one day pullback and gives us the pattern on a shorter term time frame that would really be the time then to enter a new position or add to an existing position inside of gdx you have a question about pass as well what's a good entry point and how might it go so again the same kind of scenario there with regard to pass that's now we're primarily dealing with silver silver doesn't have the same type of topping pattern but gold and silver will usually not always usually trade in the same direction so if gold is going to form a top even though silver doesn't have that topping signal odds favor not guarantee that it too will pull back but we take a look at pan american silver prices likely targeting 1847 here at 1668 no topping signal there weekly chart much like we just took a look at with what do we look at the XLF it's trading about the top of its monthly weekly profile is 1594 and its next level of resistance is really the monthly time frame you can see it with guard to pan american silver let me open this chart up here that the oscillator change line has been resistant since june of 2021 so if we get a close above that line that line by the way currently printed out at a 1682 that will change just slightly but if we get a close above that red line that oscillator change that that will also be signaling to an eye the pan american silver has turned the corner it has a change in trend and to continue to move higher and then you would be looking to buy retracement out there so where's a good entry point you know this is going to be bar number three of of consecutive higher moves out there so this too should be getting ready for a retracement or pullback in the next couple of days so i just think i think this is the area that you want to focus in on and you're you're you're good to go there and let's wait to see what happens with regard to a goldilocks over the next few days out there before you take any action that's my current thinking i hope that that helps you out thanks much for taking the time to write in james writes in and he wants to take a look at microsoft so let's get microsoft up on our screen msft msft see if we can do this before the break hey steve uh would you analyze microsoft and what would be a good entry point there okay microsoft right now looks like he wants to go tag its recent high it's trading above profile and his green oscillator and change line so looks to me like he wants to go tag that high from june 16 that's up at the 351 47 volume there was 46 million so far today it's done 10 million so a little bit lighted loafers if you're looking for potential trading setups in the stock market then rocket equities and options report is a newsletter you should try tom yo brian 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 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 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our community of traders sign up today and become a part of this educational community of traders just visit the front page of tfnn.com folks so again take a look at microsoft here the important thing to be watching on microsoft this week is can microsoft spike above 351 47 the high today is 350 oh it already has 351 85 so microsoft is actually going to complete a td9 count top by friday for its weekly time frame you know the nq is doing the same thing same pattern is going to form i believe it's bar number nine i mean i think we're looking at a top inside the nq and the es so you see this in microsoft so to really answer your question out there james i'm not going to give you any entry point out here i think we're getting close to a top and the type of top that could that could take us lower into october out there i mean that's a standard seasonal pattern out here and we're seeing enough signals on the weekly time frame or the intermediate time frames for enough charts to just say you know now is the time to be cautious out there the last instrument request here from dan inside the tiger's den is to take a look at gsm so as we take a look at this stock chart here we can see that price is trading with inside its daily profile right now the support level is down at 478 the resistance area which is under attack right now is up at 502 we're trading out really at 501 so 502 is a level to watch dan if price can clear that then we're likely headed up to 516 the td9 count breakdown area weekly chart has a profile level at 530 so if you can close them up 502 two consecutive sessions you're up to 516 you get about 516 dan you're up to 530 the monthly chart is sitting right at resistance that's the oscillator and changeline so it's kind of stalling here we've seen the stall pattern over the last couple of trading sessions maybe three out of the last four out here if we were wondering why we couldn't have figured that out from the weekly chart but we most certainly can figure that out in taking a look at the monthly time frame chart out there so that's what I see when I take a look at gsm so folks thanks much for joining me here I've got to run I've got an appointment that I've got to get to but please stay tuned we've got great programming lined up I'll be back with you tomorrow on wonderful Wednesday please have a terrific Tuesday thanks again