 is a presentation of T F N N. 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 afternoon folks. Welcome to the November 21st. The terrific Thursday edition of today's Traders Ed Show. I'm your host Stevie Perseverance Rhodes. Currently we've got the markets relatively flat ish. If you will a little bit mixed. You got the transports that are up 11 points right now. The Dow's off 12 S&Ps down to Nasdaq 100 off 17. So we've certainly got things to look at out here. Of course I want you to know that I'm absolutely grateful for your presence here. But this next 60 minutes it's all about you. All about you. So gifts called 877-927-6648. We'd love to take a look at whatever instrument it is that you need some assistance with. If you can't give us a call you can always send me an e-mail Steve at tfn.com. In the subject heading please put radio show question inside our Tiger's Den just any paying private public doesn't really matter. So let's go ahead and get this show kicked off on terrific Thursday. Of course this is Tiger financial news network. Again I'm Steve Rhodes and welcome to less show right now we've got the mention the markets were basically flat ish out here the largest move to the downside. Now this is not a surprise to me or subscribers at this stage here it is the semiconductor index. It's off 20 points is down over 1 percent. It's trade out at 1690. Question we should ask ourselves is can the semiconductor index go ahead and pull this down pull all the markets to the downside. I don't know the answer to that but it's got a good beginning a list in. What was I going to say oh I know the the the instruments move into the upside dollar winners you've got booking holdings up 18 bucks 1 percent no big deal restoration hardware up 8 bucks Mercado Libre 9 TD Ameritrade up 7 to the downside it is Karuna therapeutics up 20 bucks 20 percent cubic corp 13 dollars 19 percent guy KLA 10 core that's down 13 or 7 half Amazon up 13 a little bit less than 1 percent. Let's begin by taking a look at one request that came in this coming in from Dennis Dennis writes in and he'd like to go ahead and exit some very long-term positions for his for his elder mom and the two instruments he's looking at is Intel and the question is where's a good spot to exit. But he's got right now next to it. So if we just take a look at Intel let's just come over. So you know you're looking for advice long term where is this thing you know headed to. So we know that Intel did form a nice and it was a monthly basis by the way Dennis from a nice roads momentum indicator top about six seven months ago. Oh dear let me get my cursor no reason for me to give you approximations that did it in April. Of this year. But that moved to the downside really was just a kind of a knee jerk reaction just two bars in essence one bar really to the downside and prices now above Stevie that's running into resistance so I can understand Dennis why the hair on the back your neck is standing when I say resistance. If we take a look at the highs back in June of twenty eighteen and those were out of the fifty seven sixty level you had resistance there then price makes a higher high does with less relative energy. That's up at fifty nine fifty nine. You're fifty eight oh six so you're in this range here of resistance so. If we go take a look at the daily time frame charts what's going on on a shorter term time frame for you. Let's try to answer that question. Let's pull this up. So the daily time frame the daily time frame actually generated the same pattern roads momentum indicator top yesterday. It did that with. This three river evening star patterns that was your bearish reversal candle. You can see you're trading with inside a daily profile fifty eight forty one is the top of the box out there. So it sounds to me like from your email Dennis said. You know because of. Because of certain things you want to go ahead and. And in trim these positions and so the daily. Monthly knowing that you're coming into resistance out here. You know now is as good a time as any you want to try to squeak. Thirty some odd pennies out of it fifty eight forty one is resistance or the high from November 19th which is fifty eight sixty five. That's resistance level two but when it comes to Intel that's what I'll be looking at. You also wanted to look at McDonald's MCD. But again you're taking a look at this from the longer term. Stand points and on the case of McDonald's they got the daily time frame chart up here and if you were to ask me where's a good place to begin a long position inside of McDonald's we'd say it's. Basically right now. One ninety two seventy nine maybe it's one ninety one sixteen. Out there now the reason that we would say that. Is because it's generated nice roads momentum indicator bottom. The other two were tops out here in that bottom. Came about on November fifth when you saw a bull sash candle. So is now the time to go ahead and exit your McDonald's position well. Let's go look at the. Monthly chart that may change our mind out here but the daily says. You've got a buy signal inside of McDonald's not the monthly. Time frame chart out here. What does it show for us. You know it shows. I don't have the pattern. Per se price was moving higher to a less relative energy. We didn't get the bearish reversal candle. Out there and so therefore I won't call the roads momentum indicator top but. This says price could pull back to support which is one. Fifty six fifty six out here but. And the weekly chart let me see what the weekly chart for McDonald's says for you Dennis and for your mom. And the weekly chart says bottom. Says bottom. So I would price it was a pullback to the one ninety three thirty two level. That was where the breakout area was and when it did that the reason why I say the weekly says bottom right now. Is because the week of November eighth confirmed roads. I'm sorry confirmed a TD set up nine count so. If that price level gets taken out. Let's say the lows of last of two weeks ago. So if two weeks ago if your C. price move below one eighty seventy five. Then you're probably looking at one seventy eight but you've got a bottoming signal on the daily and the weekly. And so Dennis I'm going to suggest that what you do with McDonald's is you you hold onto that since you've got time it appears. And you're looking to. You know to. Maximize that. Sell. And so. To read or to just restate it Intel. You need to sell so. Right about now is the time to do that. You would already said that I think you must have known that because you said right now. Your question was does it look like. McDonald's going to test the one seventy one. Area and I think I answered that right now it's got a bottoming signal. And so I'm going to go with the answer is no there so. I hope that helps you out thanks so much for. Writing in. We had a request inside the Tigers then to take a look at an instrument that instrument is. Let me find it here. Where was it. Could we. My apology there's some things in the Dan and. Just trying to get through. Where was it. E X. A. S. E X. A. S. is the ticker symbol. Let me come over to our three time frame. Thank you Pete. I appreciate that. E X. A. S. And let's take a look at it and the question is. Neither long nor short but where is this thing headed to so. We're going to go to a break here in about. Fifteen seconds peak but here's what we know. Price below the daily. I'm sorry. Price prices below the weekly and the monthly the monthly was a bullish structured. Profile now the month is not over eighty four forty four. But it is trading below that suggesting that intermediate and long term. This still wants to move lower. It's trading with inside. The consolidation area small consolidation area on a daily base seventy eight. Eighty eight. To eighty three eleven. However we're going to go take a look at Steve's other charts. We get back here. See if there's any bottom signals. We're going to look at these weekly or monthly time frame charts. Great. 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. 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727-873-7618 folks the chart we're looking at is exact sciences Corp EXAS is the ticker symbol and just you know the little little conversation I guess back and forth in the den with peak D who's asking about this instrument and one interpretation could be that it's headed into the 60s and we can certainly see that here from the longer term standpoint as long as price closes this month the month of November below 84 44 because it's a bullish structured market profile out there and let me just do this here and just turn it off price for a moment just so that we can take a look at the profiles and so when I say bullish and structure folks what I want you to understand is is so the bottom of the box I just want you to think of these of these yardage markers on our virtual chart here as kind of your for lack of a better metaphor my first down here I'm just going to look at the bottom of the box I'm just going to look at the markers and 84 44 just think of it like this the bottom of the box I'll just think of it straightforward at the bottom of a box is where you have buyers and at the top of the box is where you have sellers so we know we've got 84 44 in a monthly basis to one 1960 the centerline is where both buyers and sellers believe that price is fairly valued with inside of that range and the other is the bottom of the box is where both buyers and sellers believe that price is 84 44 and 88 84 and so that level should hold now it's a monthly time frame chart and that means that we really need to wait until the end of the month before we make that call but it closed below that nothing but excuse me longer term nothing more bearish than it failed bullish pattern now when I say full bullish pattern just referring to the profile itself what you're saying is that you're saying that your friend is that as you take a look at this coming off of the 2016 bottom out here you haven't seen any closes below the monthly profile so this is a this is a an indication of a change in trend or potential change in trend out there so so yes that is most certainly a possibility now when I put my other chart up here during the break I think you were able to get a view of it this is the bottom of the chart and what you see is that prices is beginning to well it's been moving lower with less amount of energy out here but I don't have a bullish reversal candle it was really close this this bottom candle here labeled looks like D with one of my accounts out here around the 14 almost took out the prior high the prior days high which would have been a key reversal session it didn't and so it doesn't really fit my requirements as one of those solid bottom patterns out here you can see that the price of the bottom is about $7,889 and Stevie's red line is really right in that area so price breaks through that too will know that profiles will have failed and I won't consider this to be a bottom candidate just yet now if there's a bullish reversal candle let's say to that could form tomorrow as an example well then what price could do it's giving you a solid bottom signal and if it does that then your price target other than these profiles out here from a daily standpoint the bottom signal was the TD set up nine count now if this week price closes below that well then that count was not a bottoming signal so you do have that there is an A to B equal CD pattern so I can't do that on these charts just yet but let me do it on the other charts you can probably see this too because you're trying to come up with a price projection area and so the A to B equal CD tool is our price projection tool and the A point out here was the high from the week of July 29th our B point was this candle that qualified as a hammer candle on September 30th and the C point whoops come on there you go the C point was that little two week bounce a little knee jerk reaction to the upside out there and only about a .382 retracement so your one to one get you to 61 95 a peak if this isn't forming a bottom and and I'm with you it's somewhat suspect out here I think this will do more than a one to one A to B equal CD pattern just simply because of the lack of a retracement the close below the hammer candle volume wise that hammer candle from September 30th had 10 million shares with 14 million shares so you know it's got kind of like that confirmed A to B equal CD so in just doing this analysis that you and I have been doing does this make more sense to you you know is this is this now you know if you're if I'm going to give advice to to a friend like you are and it's got some it's got potential bottoming to it but if the lows of last week get taken out then I think we have our answer would have to be a close below last week's low and then your friends probably looking at 51 65 at a minimum that's 1.272 and it's because of that shallow retrace but now if it takes just weeks and weeks and weeks and go sideways well then I'd come more back to the 61 95 so that's what I see when I take a look at exact sciences Corp and I hope that helps you out with that next question coming in from MP and MP wants to take a look at MJ so let's go take a look at the MJ out here I believe that is one of the alternative harvest or something like that right or is that not it yeah it is how about that pretty good memory she bought it a couple days ago your question is I bought MJ two days ago when you said CGC may have bottomed thank you thanks Brent you're right do you still think we have a bottom in the pot stock so alternative harvest here's what we know about it it was moving lower doing less route of energy generated the same bullish or a bullish reversal candle I believe the one in CGC was a stronger bullish candle doesn't really matter it's a bullish reversal signal confirming the roads momentum indicator bottom what I don't know what you don't know Mike is so 1917 that was a support area the question is that going to be resistance level I don't know but if price is able to move above it not have a cell signal thing for you I'm suggesting that you stay with this trade out here because it does look like this could be a decent bottom to take you up to 2526 that's the place where price broke down that was on September the 17th but that's the daily time frame out here let me go take a look at the weekly time frame see we have saw the weekly time frame out here and we have a look at the weekly time frame out here we have a black background charts now what you're really looking for this week it doesn't have to happen but you'd really like to see price close this is for ticker symbol MJ you'd really like it to see you'd really like to see this close back inside the weekly profile the bottom is 1888 it's been tested it's been rejected but really what you'd love to see I would say you want to stay with this trade right now is because it's not just the daily time frame that's generating that potential of a rose momentum indicator bottom the weekly right now is generating that similar piercing candle the daily was a piercing candle I don't know how this is going to close tomorrow but you've got a bullish reversal candle and here's the real key let's just nail this thing down right now the real key is that the red line on the weekly time frame is it's ability to close above 1936 now may not do it this week that's okay that doesn't mean get out of it but if it does close above 1936 that is Stevie's red line then what this is saying to you MP is stay with this trade says you've got a bottom on the daily and a bottom on the weekly and that would be a beautiful thing take a look at Kronos I believe it is 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 it's the most common trade 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 I've 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 6 and 3 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 I suggest to work shops where I take you step by step how to use an extraordinary set of tools as well as provide great market calls to 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 lease resistance newsletter. 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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 Denver. I believe we're still going to be talking about some marijuana-related stocks. Mike, thanks for calling. Thanks for holding. How's your morning going? Twenty-some degrees, snowing. I love winter. Yes, I love the winter pictures. Actually, I love going out to Colorado and going skiing. It's different. But it's beautiful. I mean, there's nothing more beautiful than that. So, I know there's two stocks I believe you wanted to take a look at. Chronos is one of them. So, tell me how I can help you here. Well, I've been watching these two stocks and about two days ago it kind of looked like they had started wanting to settle out, especially on the HEXO. Today, they came out with some good news. And as you can see, both of them have kind of taken off as well as CGC. But do you think those were the actual bottoms? I think they are A bottom. The patterns that we took a look at. So, I would say of the five or so topping and bottoming patterns that I used to help us identify buying a bottom, selling a top out there. The most reliable one that will catch the largest moves are typically the road's momentum indicator bottom. And that's where the market just simply stretches itself. Don't may take a couple of signals to get. It's a very, it's a very, the way that I trade and just moving lower with less route of energy to use the RSI or whatever indicator you might want to use out there isn't enough. And I proved that over and over again. You really have to have the market. When I say the market, in this case here for somebody that's trying to look for a bottom, you really have to have the bulls generate that signal to you. You see, when buyers and sellers show up each day, they just have one role for you and I. And that one role is to generate some type of bullish or reversal candle if it's appropriate at that time. And that's exactly what HEXO or ticker symbol HEXO, I don't know what the name is right now and just taking a look at it, but that's exactly what signal they generated for us on November 19th. In this case here, it was both a bullish and golfing, a bull sash, a key reversal candle out there. So what that was signaling to us was that the cavalry had arrived, that the bulls were at least going to attempt to form a bottom, but more so than just attempt to form a bottom, attempt to form a bottom where the market had stretched too far, that it was like playing a game of Liars poker and you could see, you knew it was on your head and you could see what was on the other person's head and it makes it very easy to go ahead and make a hand or something along those lines. Now, what Price has done today in HEXO, it's trading above the top of its profile out there and that is bullish. The same thing is going on inside of Khronos, I just switched back over to Khronos out here and they're really all kind of doing the same thing. So I think one of your questions is, is there an entry point and do you hop on now? Is that in essence your question? Yes, exactly. Yeah, so here's what I would have you do. So unlike Michael, the prior individual who wrote in and is already in this, I'm going to suggest that you just stay put for the time being and what you're going to watch for in Khronos specifically is going to want to watch the price point of 790 and 890 because 790 is a possible resistance level where you'd see a pullback and then at a pullback, go ahead and jump on in. 890 is a place where price could get up to and then pull back. If price gets above 890, this thing's headed to 11 bucks, 10.91 to be exact out there, but you've got a little bit of resistance, potential resistance out here and since you're not in it, I'd say just go ahead and wait to see if there's a pullback. This is the only indication I have where there might be a pullback out here. It's not a guarantee, but that's how I would trade it if I were you at the moment based upon what I'm looking at and I'm just trying to pull. So Hexo, totally different animal out here. In fact, let me come back and take a look at it. When I say different animal, we don't have the advantage of a weekly profile where there's resistance like the other two instruments did. Here, that level is all the way up at 461. This is at 252. So I wouldn't ask you to miss out on that kind of a move. So I just want to come back and take a look at the weekly time frame chart here. And so the weekly time frame chart, I don't necessarily have a bottoming signal. It looks like this week, price is going to close above the close of bar number four. If you're watching us on Tiger TV, and so it's not going to set up a TD set up a nine count, I'm going to have you hold off on this one unless you see a weekly close above 277. Now, when you're looking to trade these or get into these instruments, is this for, you know, what's your time period? Well, a couple of cats like to put one in for a longer term and the other one just for like the date or swing trade. Okay. So I think that the best advice that I can come up with in looking at charts was, was what we took a look at for Kronos and an Hexio. 277 is the level that it needs to clear. If it does, it's just an indication that it's following along with the other pot stocks here. And we'll have cleared a level of resistance that it hasn't been able to close above. That's DV's red line since May of, yeah, May 20th, May 17th. So, you know, quite a few months ago out there. So that's how I would play it at this stage of the game. Sounds good. Appreciate all your help and keep watching the show. Okay. Well, thanks for doing that. My pleasure and enjoy the cold weather. Thank you. Okay. You bet. Let's go out to maybe another cold place out there, Kansas. Let's go to Robert. Robert, thanks for calling. Thanks for holding. How are you? You're right. It is cold here today, but I don't want to talk about that because it's a little bit gloomy. Gloomy? Wait, how can it be gloomy? You've got the Kansas City Chiefs out there. Well, we do, but I was talking more about the weather than the storm. I know. I know. I'm just trying to cheer you up. That's all. I'm just trying to cheer you up. So, TLT, that could be kind of gloomy, too. You want to talk about something that's gloomy out there, Bons? I'm just kidding you. So, how can I help you with TLT? So, I've been shorting TLT for the last few months, and I cleared out my last short position last week. I think on Tuesday, November the 12th. Okay. And I'd like to get back into it and short it again. And I'm looking at it and thinking like today would be a good day, or do you think I should wait till tomorrow to go back in short? I like the way you think. Now, here's the issue. Here's what you're contending with. So, I'm not looking at TLT for you. Instead, I'm looking at the underlying instrument, so to speak, the 30-year treasury. And it's much easier for me to look at this and then provide you with information as to what T-Bons look like they're doing. And then from there, you can go ahead and transpose that over to TLT. Now, even in my newsletter, I told subscribers this morning that it looked like TLT may have top. In the newsletter, we went long bonds. It didn't actually take a long trade, but as far as the timer digest signals, they switched to long. And we can see the skirtly bipattern. We can see this nice daily profile that is out here. And price basically hit the top of it early this morning. And so, not that this can't run higher, but you're asking is now a good time to go short. And because of this profile out here, it's good enough for me, you're an experienced trader to say, yeah, I can see taking a short. But if this closes over 161, give it a little bit of room out there, then price is probably headed to 164. Okay, well, I'll wait until like the last 10 minutes of trading. Sounds great. And thanks for calling. We're about to go to a heartbreak. That was Robert in Kansas looking at the TLT. If you're 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 opportunities 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. 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But his question is, did this bottom two days ago would like to nibble here for two to three months old? So here's what we know. Chui is an IPO. Clearly, we don't have a lot of data, a ton of data out here to assist us. Hector will do the best that we can, but no profiles on the weekly and monthly. Time frame and the profiles we do have, which are the daily, say that there's some substantial resistance right around 2357. That is the bottom of the daily box. And so it suggests caution. You're asking, has this formed a bottom out here? Let's go back because we can see that, you know, bull sash, candle out, piercing candle, I should say. And price was moving lower, doing less route of energy on November 18th out there. You get the 19th, the bullish reversal candle. It's pulling back today. So your question was, did this form a bottom? It does have a bottom pattern out here. And your, if you want to enter now 2270, 2255, you know, you've got to have your stop below the low from November 18th. If you're wrong, you do know that you've got some significant resistance at 2357 last two of three days have tested that and rejected that. That doesn't mean that it's not a bottom. That's a daily time frame. So the daily time frame signal says, yes, still resistance, nothing that's been cleared. So it's not like it's in a breakup bullish mode, but your question was, did it form a bottom? The answer is absolutely. It's got a bottom pattern that has been confirmed. Yeah. So nothing is going to really show up for us on the weekly or the monthly with regard to my other tools out there. So best of luck and thanks so much for writing in. Alan writes in and Alan wants us to take a look at ticker symbol TSLX. So let's go ahead and put this in our TSLX and see what it says. Let's go take a look at the questions. Very interesting out here. But if we take a look at this question is, please do analysis using all of your tools regarding symbol TSLX. Do you think this stock is setting up to breakout above the most recent high of just over 22? The all time highs in the 24-25 area. So Alan, let's see here, what do we have? We do have a potential seventh wave move out here inside of the ticker symbol TSLX on its daily timeframe. Nothing major to report to the downside because price is really just testing the top of its profile in this 2150-ish area out there. So no real breakdowns. Your question was, do I think it will get above 22? Right now what it's suggesting to us, there may be a top and a pullback into 2108 to 2077. And I think you're referring to, I was like going to do it here in the foreseeable short term timeframe. Now if I look at the weekly timeframe chart out here, what do I have? I tell you what I think we have on the weekly. Let me do this because I don't have an A to B equal CD tool on that. Let's get TSLX, TSLX going on my weekly. And so the weekly generated a key reversal session out here. That's what I immediately caught my eye. I want to take a look at this longer term A to B equal CD because you've got a daily topping pattern out there. Now we might have a confirmed A to B sell the D point out here. Boy, we really do. 2199 was the one to one A to B equal CD price projection. And this is the week here we're looking at November 4th. And what I want you to notice is that the prior week its high and low was exceeded by the week that began November 4th. And you had a tick in the opposite direction, a red bar in this case here. It's not a bearish Japanese reversal candle, but it is an American key reversal session. And they can identify tops and bottoms as well. Now this just suggests that price will pull back to a level of support. And that level of support is 2117. But the daily and weekly are suggested. This one it's a little bit of a rest pull back into support. We've already taken a look at those levels out here on a monthly time frame. The swing point it was dealing with is August 2017 that had 5 million shares, you're at 4 million shares. So it doesn't look like it's really trying to take out these highs with volume. The volume you were referring to back in June of 2014 had 9 million shares. So I think what we have to go with here, Alan, is this looks to me more like this is preparing for a retracement? May not be, you know, how significant is it going to be? I don't know. But prices, you know, above some support levels, out of your key support levels. So, but I would, I would brace for a pullback versus this getting up to the levels that you were first looking at. And it's only 2148. And your question was, will this get to over 22 bucks? We'll get to $24 out there. And Stevie's saying be careful because the charts are suggesting maybe not so fast. Our next request is to take a look at Apple. So let's punch those charts up on the screen. And the question is from Nancy. Nancy, fancy Nancy. I mean that in an affectionate way, fancy Nancy, if that's okay with you. Because I have to have my conversation with you because you sent an email like this. That's okay too. I love that. So keep sending them. Okay, I'll just reverse it back up here. But Nancy said, hey Steve, would you give your opinion, we'll give the charts opinion on Apple and its trading range down further or rally up? You're holding the November 29, 260 call options. This is trading at 262, a little underwater present, although coming up a very good week. So if we take a look at, so the trading range, that was one of the first things you had asked about. And the only trading range that you and I have out here for Apple is going to be coming from its daily timeframe chart. And that is the TAS market profiles on the left-hand panel if you're watching us on Tiger TV out here. And you'll see that that's a profile that formed today. And this is a bearish structured profile. Now resistance out here is 260606 and support is 26022. One of your questions was up or down. I'm going to say that what sellers should be able to do is push price down to 26022. Now what you and I are going to do with regard to Apple is just try to pull back to Curtin and try to understand how often does Apple trade below the bottom of its profile. The reason why you want to do that is because if you do see a close below 26022 and it doesn't really trade below the bottom of its profile very often, that would be suggesting to go ahead and simply take back whatever capital is left on that trade out there. So here coming off of the lows from back in June, June 3, 2019, what we will see is the first time that Apple broke through the bottom of a profile, daily profile, was on August 5th. And it had gapped to the downside and remained below the bottom of a profile for four days. But that was kind of the low out there, that kind of it was the low. It was a one day wonder below the bottom of those profiles out there. And we did have another period of time, short period of time, wasn't much damage. Our price was below the profiles back on August 26th. That lasted just a couple of days. So here's the case, here's the deal. If you see price close below the bottom of that profile, 26022, don't do anything until you see day number two, get some additional follow through. If it's just a one day miss, push down below support, but there's no follow through to the downside, but then it was just, you know, a false breakdown. Second day in a row, that says expect a further pullback. Nancy, fancy Nancy. I hope that helps you out. Thanks so much for writing in. Best of luck on your trade. 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. Get your two week free trial to Basil's newsletter, the opening call today by visiting TFNN.com. 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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, let's go to John and Philly. John, thanks for calling. Thanks for holding. How are you doing today? Great, Steve. This is likely a point. I've got 6014 as the next stop to the upside, which bums me and I'm sure some subscribers out because we had been long light sweet crude and got stopped out for a nice profit, I think 7%, 8% back on that flush on November 19th. But John, as we rolled over to the January contract, the 6014 is the monthly horizontal trading range. I'm sorry, it is the monthly top of its task market profile. So I believe that that is the next price target there for light sweet crude. Does that help you out? Thanks so much, Steve. You bet. You bet. And thanks for calling. That was John in Philly. We had a request to take a look at GDX inside of the Tiger's Den. And I apologize. I forget who would ask, but I want to make sure that we get to it. First, with regard to the GDX, it kind of leads into, hey, what's gold doing? Again, gold right now trading in between its profiles, profiles being the daily between 1453 and 1474. You can see the descending channel line out here. My call is still for gold to head lower and much lower. The kind of lower that's going to take people out of it because they didn't use stops. They just ate in it and believe that somehow inflation was the reason that gold was going to keep moving up. But you asked about the GDX out here, and it comes to the GDX just like in gold. The GDX is actually a little bit worse in gold than that. I believe gold had a TD set up on its weekly timeframe, a weekly TD nine count while the GDX doesn't. And if you got a big old Rhodes momentum indicator top out here. And this says the GDX between now and January could really pull back to $20 and 28 cents. But first, it's got to break through support just like gold. And on a daily basis, that's $26 and 40 cents. Folks, thanks so much for being here. Stay tuned. Two great hours of programming coming up. David White, Tom O'Brien, and I'll see you on fabulous Friday. Take care.