 The following is a presentation of TFNN. The Trader's Edge with Steve Rhodes. Oh, toll free at 1-877-927-6648 or internationally at 727-445-1044. The Trader's Edge. Now, Steve Rhodes. Good day from TFNN. Welcome to the May 31st. The fantastic Friday edition of today's Trader's Edge on your host TV. 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 have an extraordinary one. Of course, the easiest way to do that, it's 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 circumstances that life is going to toss at us. Today, you and I, we're going to go check on the circumstance of these markets. We're going to go figure out what the bulls and the bears, what the buyers and sellers are communicating to you and I just passed. Well, it's eight o'clock in the morning. That's right. If you're listening at the normal time at 107 in the afternoon, this show has been recorded from eight to nine this morning. I'll try to make it as pertinent as I can for you today. Try to provide you with some values to look at as you get into that one o'clock timeframe, certainly at today's close. But if you are listening live, we would love to hear from you. Now, the easiest way to do that is to give us a call at 877-927-6648. If you can't do that, you can always send me an email, Steve at tfn.com. If you're listening during the one o'clock show, don't send me the email. I won't obviously be able to respond until Monday. And many things can change between now and Monday. And of course, in our Tigers, then any ping will do. So let's go ahead and get this show started on Fantastic Friday. Of course, this is Tiger, Financial News Network. I'm Steve Rhodes. Welcome to less show. Right now, we've got the Dow Equity Futures contract trading down 282 points. A little over 1%. 24908 is the print. S&P is down 32 points. A little over 1%. Everything's over 1%. NASDAQ won in four tenths percent. There are 104 points to the downside. Russell 2000 off 19 points. Gold is up 10 bucks. Trading out at 1302. Silver is flat as we speak. So no action. Jackson there. LightSuite crude is down to $1.16. Trading out at 55 and change. Let's begin with our first request. This is coming in earlier this morning from Michael. Michael is, let me get the message up here. Michael writes in, hey, Steve, hey, Michael. Mike says, I sold TZA yesterday. I'd like to buy it back. Can I talk about TZ and the show today? Yep. So Mike from Nashua. Let's go take a look at the, let's begin by looking. The TZA folks, for those of you that don't know, we have put that up on the screen for you. The TZA is the ultra short or the 3X short of the Russell 2000. And so we've got that up on the screen, but really because this is a triple, whether it's a triple, the double or what have you, what we're going to do in order to answer Michael's question, we really need to go take a look at the equity futures contract, see how that is trading. Now those of you that listen in on the show regularly, you know, we have a handful of patterns that we use that help us identify tops and bottoms. We also use a bunch of tools out here, number of tools to help us identify support and resistance from multiple timeframes out here. Let's begin by taking a look at the daily time frame chart for the Russell 2000. Now one of the things that we know about this is that it has been trading in a consolidation pattern. That's the black rectangular pattern that we're looking at. And it really takes us back into the early part of February 2019. Yeah, so in the case of the Russell 2000, all we have to do is take a look where equity futures contract or price is trading. That would take us back into the trading system January 17th. But that's not, that's not to digress in a beginning and talk about time so much. Let's take a look at patterns that are out here. So one pattern in play is the consolidation pattern. When you break the consolidation to the upside door to the downside, what it does is it gives you a measured move equal to or greater than that consolidation. So let's just redraw that rectangular box and get it approximate. Well, that's not a rectangle. That's interesting. What tool did Stevie, Stevie chose the ellipse tool when he was trying for the rectangle tool out there. Well, you can tell it's a bit early in the morning. So here for Michael, what Michael's perhaps looking at or Mike is looking at is, hey, you know what? The Russell 2000 broke the consolidation pattern and therefore its measured move should be down about 1381-20 or at 1466. Now, Mike, I would say that's the case. Then just jump on board right now. Not so fast. Not so fast. We saw the Russell 2000 break above the top of its consolidation. It did that on May 3rd and May 6th. Interesting, a Friday and a Monday. Now, on May 3rd, price broke to a higher high. Price was doing a less relative energy. And what it also did was it made wave number seven. Now, I say wave number seven, it's letter G on my system out here. At the bottom of that consolidation, on the trading day of March 25th, if you start doing your Chapman wave count to the upside, that's what you got, wave seven. And again, price moving higher with less relative energy. A caution sign, Mike, to say at that stage, if you were going to go ahead and say the same thing, this thing broke, the Russell 2000 equity futures contract, broke above the top of its consolidation, therefore giving you a measured move and therefore you should go along just based upon that, giving you a measured move up to the price target of 1715. Well, that didn't come to fruition, right? Because there's a handful of tools that you and I use. We recognize, now it doesn't work always, but we recognize that oftentimes, what we see are tops and bottoms at the exact same point in time when things are euphoric or things are just dismal, is all holy heck out there. But because we're guided by these principles of potential tops and bottoms, more likely to happen when these patterns exist, wave number seven as one of them, price moving higher, doing less relative energy as another one of them. A TD set up nine count, another one of them, with the higher low occurring on bars eight, nine or 10. Well, if you look at the top of the consolidation, Michael, we take ourselves all the way back to the trading day of February 25th, this price was, in essence, setting up that consolidation pattern. It was bar numbered, the bar following bar number nine, that was the high of that system. Michael, what we have today is a break of the consolidation. It's clear, but as we speak right now, we're also in bar nine of that same TD set up nine count. That doesn't mean that you can't see a lower low on Monday. Remember, the higher low, in this case here, the low can take place on days nine, days eight, nine, wasn't yesterday. Could it be today possible? Could it be Monday possible? You really won't know till Tuesday. So now I don't know if it's an intraday trade that you're looking for, if it is. So on a daily basis, this says to me, at least, because patterns repeat over and over again, we don't know if this breakdown is a false breakdown or not. Because of this potential bottom signal inside the Russell 2000, I say caution, Will Robinson. Now, Michael may be interested in taking a look at some type of intraday trade out there. That's a different setup. Michael, here's what I would say at this stage, as of 8.14 in the morning. Let's take a look at a 30-minute time frame chart. This says if you want to buy TZA, sell it as the Equity Futures contract gets into resistance. That level, I'm not saying it'll get up there, but your sell area would be 1475-50 inside the Russell 2000. Not here at 1466. Steve Rhodes with TFNM. We'll be right back. The Taz Profile Scanner is the most revolutionary piece of trading software that you will ever try. Wouldn't you like to approach the markets with confidence? As you begin your trading day, it's likely that you'll be faced with lots of decisions. In order to make the best decision, the first thing you'll need is a strategy that will help you minimize your risks. Whether we're in a bull or bear market, a good strategy is to have the tools needed to help you scan and analyze the markets before you trade. The Taz Profile Scanner instantly scans and filters over 2,500 global financial markets, such as stocks, ETFs, commodity futures, and forex. 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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. Oh, toll-free at 1-877-927-6648. Internationally at 727-873-7618. Welcome back, folks at Doll Futures down 289 S&P off 33. If you're listening at 1-18 in the afternoon, it's actually 8-18 in the morning recording today's show between 8 and 9. We're going to try to make it as pertinent as we can, but we do have folks that are up. We've got listeners. And so Alex writes in and he says, hi, Steve, hi, Alex. Alex says, I was talking about the EES Mini. Let's put the 30-minute timeframe chart up here so you can take a look at it. Alex goes on to say, last night, the EES Mini took eight minutes to react to President Trump's tweets out here. Here's the 8 o'clock bar that you can take a look at on the EES Mini. That seems unusual. Do you have any thoughts on that? Took eight minutes. No, not really. Here's my take, Alex, and this goes to Mike as well and everybody else that's listening in. And that is, let me do it this way. Let me do it like this. I'm going to open up a chart. I'm going to open up a blank chart. Here's a blank chart of the Dow. In fact, let me just put this on just simply a monthly timeframe for the heck of it out here. And in this monthly chart out here, there are lots of different things that take place during the month, during the day, during the week, or what have you. And all that can be just as important as, for example, the tweet that Alex here mentioned with regard to tariffs in Mexico. But when I go back and I take a look at patterns, when I go take, because I'm a pattern, you're a pattern. We took a look at the Russell 2000, the patterns that were out there. And when I go back at history, I don't know what took place on that date. I don't have a memory good enough. There's no charting software that I'm aware of that allows me to go ahead and maybe it exists out there and says, geez, on this date here on October 3rd of 2018 when the Dow made its top, what news event was related to that that created that as the top? Instead, so I'm really agnostic as to news or when Alex may be, whether it was 801 or 808 or whatever time it was that it took before the market began to sell off. To me, it's more about the patterns that are in play out here. Because these are patterns, for example, the roads momentum indicator top and bottom pattern out there. This has existed, if you go back 130 years, it's been present before the beginning of every bear market. Just because every single bear market. So it doesn't really matter about headlines and so forth. You can go back and take a look at the TD set up nine count pattern out there. This pattern works all timeframes, all instruments. So instead, Alex, what I like to do is just say, hey, you referred to the ES mini. Let's just take a look at the ES mini. Let's see if there's any patterns out here. There aren't the same type of patterns, same style of patterns that were in the Russell 2000. Here today is likely going to be bar count seven of that TD set up nine count. The only pattern in play inside the ES mini is the A to B equal CD down pattern. Well, it's at least one of them that you and I can look at. And so in the case of the ES mini, this would suggest to you and I that price should target 2732 in that general area. That's the one to one A to B equal CD pattern. Now, do you sell that pattern? Just because it is the one to one A to B equal CD. Now, what I will share with you is I used to do that. When I began my entree into technical analysis, I was like, hey, this is cool. I got the A to B equal CD tool. I had that on the Ensign software out there. Great charting package. I don't use that any longer. I've got my own tools that I've built for either the Ninja Trader application or ESignal versus Ensign Windows out there. But if you're looking for an A to B equal CD tool, they've got it built in there. And then when I got the snot kicked out of me, you know what I mean? Like you're ready for a good fight. You step into the ring and you just get hit and clobbered out there. Then you start going back and trying to figure out, well, what did I miss? I didn't miss the A to B equal CD pattern. That was pretty easy to project, just as we have it here at 2732. Does price have to stop there? No, it does not. Why? Because then what I was also doing was I was taking courses, reading books with regard to Japanese candlestick charting out there. What I recognized, what I realized was Japanese candlesticks on their own are interesting, but you can't just trade off of them. What I also found is the A to B equal CD pattern was interesting too, but you can't just trade off of it either. What you have to have is the combination of two. That's really the beauty of these markers, being able to take multiple tools, meld them together because that's how the market, as Tom likes to say, talks, walks, and squawks. For me, it's with patterns and candlesticks more than it is with volume. For Tom, it's more about volume. For David, it's more about volume in the power law vector indicator. That is the beauty of TFNN, is that you don't get the same information regurgitated over and over and over again to you. You get different eyes to take a look at different things that have different experiences. And my experiences are with regard to patterns you've got to have both. Case in point out here, if you were just going to go ahead and trade the A to B equal CD pattern, you would have been short Treasury bonds, the 30-year Treasury bond. You could have found all the reasons in the world. I found all those same reasons in the world while you should have been short Treasury bonds because after all, it hit the one to one A to B equal CD pattern at 153 and change out their spot on and beautiful. Of course, price was also rising, doing a less relative strength out there that rose and went to indicator top. But did you get a bearish reversal signal? And if you were trading the futures contract, you got to not kick out of you by taking that pattern. Don't do it. Don't do it. Please don't do it. Well, do it if you want, but do it at your own risk and peril out there. The market participants, the buyers and sellers, they've got one role for you and I to create those bullish or bearish reversal candles. When they occur during the middle of the move, they're just interesting. It's like reading a novel and oh, that was interesting and then you go to the next chapter. Well, the next chapter here or the book doesn't end or the pattern doesn't complete until you get that reversal signal. We can see here with regard to the 30-year Treasury that it's headed up towards its next target at 155. It'll do that until, and it can go beyond that because the 1 to 1.618 is 157. So I'm not saying 155 is the be all to end all. I'm just saying it's the next target. And anywhere along this path, when a bearish reversal signal does form well, then we may have a top in this pattern. There's other things that we'll want to take a look at as well. So what do I think about the delayed action? Really not much. In the case of the ES mini, where is the ES headed to? Well, we saw the A to B equals CD pattern. There are other things that we can use such as horizontal trading ranges out here. If we take a look at the ES mini, what this shows is we've got a conglomeration of weekly, daily, and monthly horizontal trading ranges that come together between 2714 and 2728. On a daily basis, there have been 51 opens or closes at that 2728 area. Relatively close to the A to B equals CD pattern. Now, this seems like in conflict to what Michael was asking me about. Should he just jump on the TZA train right now? We'll see. In the ES mini on its daily chart, I don't have the same bottoming signal as we do inside the Russell 2000. So all that I can go with here, Alex, is the next price target appears to be the 2714 to 2728 level. And that's for the ES mini. So when we come back, let's go take a look at the NQ. What is its signaling to you and I? We'll be right back. I'm certain you are or strive to be one of the best of the best at everything you do in life. 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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 Welcome back folks. So what John and Sarah Soto wants to take a look at a couple of symbols out here. Whiting petroleum. WLL is the ticker symbol and he's just asking what is it that we see for whiting petroleum. So right now, well first to close at 1888 it's trading in the pre-market last trade fired off at 1825. So 1825 John is going to take it down below the swing point out here from December 26. So this is already testing the lows now volume in this equity yesterday was light the volume by the way on the 26 was 9.5 million shares yesterday which was not a test was 5 million shares 6 million the day before 466. So prices pulling back with lighter volume but if price closes underneath 1837 today John then we have to take the chart back even further because then the next swing point is where price may be targeting and that takes you back in the 2017 lows in the 1588 range out there. So that's what I see when I take a look at whiting petroleum if I look at yesterday's charts it made wave number 7 not yesterday the day before so that pattern if we see lower low than the day than Wednesday which it appears we will don't know how this will trade at 9.30 though but in the aftermarket pre-market we are seeing that then that voids that pattern out there and all that we would really have to go with would be the swing point analysis on lighter volume out here. It doesn't look good when take a look at the weekly time frame chart weekly time frame chart below profiles a monthly and quarterly all quarters not over as below all profiles there so I say you've got to be careful here I understand the bottom fishing but right now that bottom fishing inside of whiting petroleum could take you all the way back to the 1588 level out there so keep looking at see if you get a rejection of 1837 light and light volume then you may have something to take a look at the other symbol that John wanted to look at is ticker symbol M E E T that's the meat group and meat cute out here looking for a bottom so we take a look at profiles daily weekly monthly quarterly below daily below weekly trading with inside the monthly profile but this means price could get back to 252 to 284 below the bottom of the quarterly which was 404 are there any patterns out here that we can see inside of meat well we can see the prices moving lower doing with less relative energy but no bullish reversal signal here there's also the A to B CD pattern that comes in looking like this it would be right here would be right there so you can see it's made the one 1.272 pattern out here so and looks like today could be TD set up nine count so we don't have the we don't have any type of confirmation in this specific instance here even if we were to get some type of bullish reversal signal out here John I would say what you need to see is a close above Stevie's redline from the daily time frame chart that's four dollars and three cents before you would entertain a trade four dollars and three cents no profile to back you up daily or weekly but that's what I would be looking at as you take a look at meat the breakout area from a weekly perspective inside of meat is down here down here by the way is the trading week December 28th and that price level is three fifty one so the weekly says hey look I made this rose momentum indicator top that should take me back to support or the breakout area and now you've got your breakout area so look at three fifty one is another possible level as to where price inside of M double E T is headed to hope that helps you out Peter Park City wants to take a look at Goldie watch and so we shall Pete I know that you like to take a look at gold price and all the major currencies out there so let's begin there as we take a look at gold here's what we see we can see that gold is moving higher in US dollars moving higher in euros moving lower in yen moving higher inside of pound sterling what happened to those folks over in Japan drinking sake tonight and not trading gold up what is this trading slightly lower in their currency the other thing Peter as we take a look at gold on this chart what you can see is price right now is trading right at about the bottom of that weekly profile will that old support become resistance out here I don't know that number is thirteen hundred even Steven out there and even if it doesn't Peter what you really want to see if you're long gold what you'd really like to see is you'd like to see a close above thirteen oh six even Steven thirteen oh six happens to be the top of its daily profile for the July contract out there so I would say gold is not exactly out of the woods just yet I would say it would be out of the woods if price close above thirteen oh six and then what we should see is a move to thirteen twenty and above that thirteen forty one becomes the number I don't know if there's anything else for you and I really to look at when it comes to gold I think that chart says it all for the most part you know it been in a consolidation type zone out here and you know is this the set up this move right now today just simply the top of that consolidation we used to think it was around the twelve ninety six level but why those numbers are so different than the let's go let's go take a look at that let me do that let's pull up the August I say August let's pull up the August numbers out here here we take a look at this let's wait this will populate with the profile so here's the profile so are they they they're just slightly different right remember those numbers that we were taking a look at on my other screen and I didn't make that in state that so good good question good thing to point out the numbers that we were looking at on my other screen we're coming from my composite version of the gold contract the gold contract just rolled a couple days ago from June to August and during that roll over time period Peter what I like to do is really take a look at that that that stitched together version it's not the continuous contract is that is take is take a look at that to understand where where forget about the numbers where is price trading relationship to those profiles now the good news is we also happen to have the same or similar profiles not probably not the same profiles here we can see the gold is also trading into the bottom of the August contract weekly profile but it's very easy so if this if you if we were to take away so we know that right Peter and then you can see the 1308 30 level so so there's a number really that you need to see gold close above on a daily basis to then say 1321 1341 but if we were if if we didn't have profiles if we turn those off which is what we'll do next if we didn't have profiles what pattern is it that we could write in here clearly we can see the bottom right the bottom being here in essence which an area that was tested that takes you back to April 23rd so you know some people could call that a triple bottom I suppose I don't think you called anything until you break the top of the so-called triple bottom and we don't even know if we really have that here it's possible that the consolidation pattern another good another way of saying consolidation is in play with that topping in this 1308 area this could be our consolidation used to be we thought it was down here at about the 1295 or 1300 level but right now this could be the consolidation and then when we turn on those profiles out here and I wish I had a crystal ball but as we turn on those profiles she's right at the top that consolidation is the top of the daily box out there maybe you've got a different interpretation I think in order for gold to really break out to really prove itself we must see a close above 1308 we'll be right back if you are in the 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 there are 18 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 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about platinum we've been trading platinum using 790 as resistance and 796 as I'm sorry 796 resistance and 790 as support Ruby very close to those numbers are this 30 minute time frame chart that we're looking at 60 minute I apologize 60 minute time frame is what we have up on the screen and its task market profiles would say resistance is at 797 30 and supported 789 30 so you've got the consolidation pattern the structure of this box as you can see is bearish in nature we say that because the center line at 794 is closer to the top 797 and to the bottom so there's more sellers lined up between 797 and 794 and those sellers have been successful at pushing price down to the bottom in that 789 level didn't actually hit it during this last hour it got down to 789 70 for 789 30 so that's a beautiful thing there is and I don't know when you say you were trading this trading to both sides so at this stage here it looks like you've taken the long side with the stop below 789 the low out here takes you back to about 9 o'clock in the morning yesterday and that low is 788 30 so really for all intents and purposes your stop should be below that or certainly close below 789 30 now this is the 60 minute time frame chart when we take a look at all the time frame charts out here what we don't see is any clear sign of any kind of a bottom we don't see a close above the top of any profile out there just buying and selling just buying okay well so be careful on the just buying you've got prices below a profile that formed this week at 801 70 price below 795 90 that must be a prior swing point well that's within the swing point so there's a swing point that it's testing but when I look at this daily time frame chart out here Ruby I don't see a sign of a bottom I do see the breakout area and so prices looks like it's coming back to that this is the daily time frame chart and that's the February 5th low that 5th low is 785 10 but even if price gets back there what you'd really like to see is you'd like to see a TD set up nine count occurring right as prices hitting or close to hitting that support level out there so I don't have a pattern certainly if there's the A to B equal CD we don't have any kind of bullish reversal signal so although I you know I know you're fishing around looking for a bottom a bottom will form when the bulls tell us it's going to form and that's the whole purpose of understanding these patterns here whether it's the A to B equal CD whether it's a TD set up nine count whatever it might be and just simply understand that price continues lower until the bulls arrive out here that's really the whole beauty of candlestick charting but again it's really the beauty of it is not using it on its own it's about being able to use it combined with other patterns out here does the TD set up nine count pattern work all the time no I haven't found one pattern that works all the time but look at it works enough to be paying attention to it here's a top out here on February 28 the nine count price moves back here's a bottom occurs on the eight count back on January 22nd here's a eight count short term high that occurs on March 21st turns into be more of a sideways move here's one that totally fails the bar after bar nine didn't cause a low because the following bar made an even lower low out here so it tells us Ruby a lot of momentum inside of platinum to the downside would almost make you think geez the move in gold is more headline news related but remember I won't remember the news when we take a look at charts going back we just can only rely upon support and resistance as you are inside the case of gold we're saying hey it's got a break above the top of its daily box no box out here for no box out here for platinum and the the weekly chart here you know it's breakout you got that breakout level that horizontal line from September 2018 776 but but no real bottoming pattern or signal here from the weekly time frame so at 847 in the morning with regard to platinum I think you've got to be careful no problem going to the long side because on that 60 minute time frame chart we can see the consolidation it may struggle to close above the center line of the box is 794 30 so just another 2 bucks to the upside 2 buck chuck so I would watch that area closely I didn't mean to write in 2 minutes although that's what we've got I meant to put in 30 minutes although I will put in that 2 minute chart yeah so 30 minute profiles not really much there if I do put in the 2 minute profile just for the just for blanks and giggles out here I would suggest at this stage in looking at it that it pricing it above the 793 level you know a little bit higher is in the cards out there but we're not going to chart we're not we're not going to we're not going to start trading up of a 2 minute pattern only because I can't be here to update you on what just takes place every couple of minutes out there so best of luck in trading platinum hopefully that information that I provided you is going to be helpful so no other requests that we've got in the bullpen and I take that back Tim writes in and let's go take a look at Tim's question Tim writes in and says are we new good are we near a good entry point for am TD is that a merit trade am TD is the ticker symbol that is a merit trade let's get it up on both of my systems out here and you're welcome Ruby just we all take a look we all have we are all each other's wing men or women out here take a look at Peter he's already corrected me twice today out there you know we need more eyes out here he's assisted me twice today and so we're all here on the same team really trying to help each other so the question for Tim is as we take a look at this chart for Tim the set of charts price below the daily price below the weekly prices trading down towards the bottom of the monthly profile out here so nothing great with regard to signals we can see right now three higher lows on the daily we can also see lower highs we can see three higher lows in the weekly we can see a bunch of higher lows on the monthly chart but that alone is not going to tell us we've got a bottom signal or not if we take a look at Ameritrade on Stevie's other time frame charts out here what this would suggest to us Tim is that perhaps price because price is trading below Stevie's red line that's at 51 38 perhaps this is going to try to form a TD setup nine count as prices pulling back to that breakout support level which took place on March 29 in the level out there would be 49 35 you're asking for a good entry point if you get price down towards that 49 35 you get a nine count out there then maybe at that stage that would be your entry point if you get a close below that that's a problem so I'm not even looking at the swing point the swing point is March 26 instead we're looking at the low from March 29 as our signal area for what price wants to do right now Tim we don't have a buy signal for Ameritrade we were looking for an entry point no profile so instead we're going to revert to that level of potentially 49 35 we need to see a pattern confirm at that same point in time we'll be right back since 1984 Basil Chapman has been using the Chapman wave methodology to advise traders of his expert market opinion well 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 2 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 get your 2 week free trial to Basil's newsletter the opening call today by visiting TFNN.com it's amazing to think that Tom O'Brien started his weekly gold report 17 years ago with the first issue published April 7th 2002 when gold was trading at under $300 per ounce gold peaked at more than $1,900 in 2011 and after spending many years consolidating at lower prices gold may be poised for its next big run Tom O'Brien publishes his weekly gold report every Monday morning for subscribers consisting of coverage of the XAU HUI, GDX, The Dollar Bonds, South African Rand as well as 25 different mining equities with specific buy-sell recommendations as of April 1st of this year the gold report currently has eight active positions with an average unrealized profit of almost 8% for each open trade new subscribers get a 30 day money back guarantee so you have nothing to risk for all the details and to start your gold report subscription today visit the front page of TFNN.com don't let gold's next big run pass you by sign up today you know what's cool taking something that's good for you something specifically formulated to help with weight loss better sleep stress reduction and need to detox Nicar hunter and gatherer ancestors found all their nutritional requirements for health in their wild environment but today our food sources no longer contain the vitamins minerals and nutrients our bodies need to stay healthy and strong that's why we need primal edge daily nutrition it includes a special blend of ionics oil based vitamins, minerals, baddie and amino acids in an easy to use liquid form primal edge is powered by highly concentrated folic and humic acids nature's preferred delivery system it's 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 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nine count that resistance level to be watching today is a 25-0-31 any close above 25-0-31 says hey price can make its way up to 25-3-22 that would be the spot where any countertrend move this morning should find resistance if it doesn't that's telling you something inside the NQ we've got the same thing what we would use here is the price point of 70-2-0-9 above 70-2-0-9 you can be taken looking to move up to 70-2-96 out there so that's what you would be looking for as that countertrend rally should stop there now at 1.54 it's likely to be different numbers out there so I'm really just giving this information right now for those folks that are with us here this morning in the case of the ESMini that number out here is going to be 2773.25 that's where any counter trend rally should find resistance this morning if it doesn't the market is communicating something to you with regard to T-bonds out here they're pulling back slightly boy I don't have a real topping signal out here but support inside of T-bonds just so you know that takes you all the way down into the 152 ish range 152 and 13 30 seconds out there as a possible level of support in the case of the gold contract let's finish this up we had already done the Russell 2000 earlier support for gold on a 30-minute basis it needs to hold 1296 below 1296 you come all the way to the other breakout level 1287 folks thanks much for being here stay tuned Larry Pesavento is up now from 9 to 10 in a recorded show from 1 to 2 as David White's on vacation. Tom will Brian 3 to 5 I'll be back with you on magical Monday have a terrific weekend folks take care