 The following is a presentation of TFNN, The Trader's Edge with Steve Rhodes, toll free at 1-877-927-6648 or internationally at 727-873-7618. The Trader's Edge. Now, Steve Rhodes. Good afternoon, folks. Welcome to the December 1st, the wonderful Wednesday edition of today's Trader's Edge show. I'm your host, Steve. 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. And the easiest way to do that is to always remember that life is happening for us, not to us. That's right. We do not make that one little two-by-four shift. Well, it means we can find the gift in every set of circumstances that life is going to toss at us. Now, today, you and I, we're going to 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 just passed one o'clock in the afternoon. I want you to know I'm absolutely grateful for your presence here. But more important than that, and that's this. During this next 60 minutes, I'm here to serve you. So, feel free to pick up that phone. You can dial on it at 877-927-664. And if you can't dial in, hey, we've got you covered there, too. Go ahead, let those fingers do the walking. Go ahead, send me an email. Send it to Steve at tfnn.com. And inside the subject heading, please put radio show question, of course, in our Tigers then. Well, any and every ping will do. So, let's go ahead and get this show started on wonderful Wednesday. Of course, this is Tiger, Financial News Network. I'm Steve Rhodes. Welcome to Last Show, right now. We've got all the US indices trading to the north upward. The Dow's up 135. That's about 4-10%. The S&P's up 7-10, or 34 points. The Nasdaq 100, a half a percent, 84 points. The Russell up 3-10, about 6 points. The Semi's up 1.8-10, that's 70 points. The Trendy's up 36. The New York Stock Exchange, 109. You've got Gold trading out at 1782-90. Silver trading out at 2246. So Gold's up 9 bucks and Silver's down 30 cents. We'll try to make, hey, of that. White's, we cruise up 21 pennies trading at 6640. And the lead to charge, dollar-wise, the upside. We've got Google up 38 bucks. Ambarella up 38. ASML Holdings 33 bucks, that's 4%. 21 bucks for Ambarella, where they solved something. Lamb Research, LRCX up 23 bucks. I think we took a look at that one yesterday or the day before. I can't remember when we looked at it or if we did. And we've got, to the downside, Mercado-Lirbe. 59 bucks, HubSpot down 39. Monday.com on Wednesdays up 35. That's nearly 10%. Moderna's down 33, nearly 10%. Service now down about 5%. There are 31 buckaroonies out there. So, where do we want to begin? Mr. Bill says, making it out of Gold, what if the other way around? Yes, yeah, wouldn't that be nice? We could make a Gold out of A. Well, let's go try to make, let's go right to Goldilocks. Should we? Yeah, let's do it. Let me change screens here. So, we'll give you the, if you listen to one o'clock update, I said it looks like Silver will put in a bottom today. And so, let me get back to, where is this chart here? This set of charts. So, we're just going to switch over, take a look at two white background charts. You're going to see Gold and Silver side by side, and it really tells the picture. So, as we look at this set of charts here, the one thing that you'll notice is yesterday, and we're looking at Gold right now on the left-hand side, you see that 1773, that red line, that's not a line that Stevie drew in there. That is the TD9 count breakout level of support. And typically, if something pulls back, you want to see it pull back to its breakout level. Well, that's exactly what Gold did yesterday. Now, it also formed bar number eight of a TD9 count. You might notice up at the top here for Gold, it was bar number nine that identified the top there. Now, in order for bar number nine to complete today, you don't want Gold to rally. You don't want to rally too much more than where it's at, at 1785. You need to see it close today below 1791, or at 1785. So, if Gold today closed below 1791 level, we will form bar number nine of a TD9 count. What happens if we close above that? We will not have a TD9 count. We will just simply have price pulling back to test the breakout level of support. We'd prefer to see a TD9 count bottom. And that would then suggest that we should see price at least make its way up to the oscillator and change line in about the 1814, 1815 type area. And if price can clear that, then we should see price make its all the way back to that 1881 level. So, you've got Gold with a potential bottom, and I like the price action at least right now as of 111, and would like it to stay this way. So, if you are a bull on Gold, you too want it to stay this way. You don't want it to take off by today. You don't mind seeing it take off at about six o'clock tonight, but you don't want to see it taking it off for the rest of the day out here. That lines up in essence with Silver. Now, Silver formed bar number nine of its TD9 count yesterday. But remember, the low of the pattern can form on bars eight, nine, must form on bars eight, nine to the bar following nine. Here we're at the bar following nine. So, if Gold can do its thing, then Silver, even though Silver is breaking through its breakout level of 22.58 out there, it'll still have that valid TD9 count pattern. And then, voila, we are likely to see a bottom. Now, if you trade these, what you want to do is go to the short-term timeframe charts and look for some type of bottoming signals out there to go ahead and get you into the trade, so to speak. So, yeah, we're going to go ahead and make, we're not going to make A out of Gold, but we are making A. So, that's what I'm referring to when I take a look at the Gold charts. And again, if you're a bull, you don't want to see price close above that 17, I think it was 17.91 level. I believe that's it. So, that's it there. So, now let's go back to the, and no questions at all. Let me just check my phone here to see if there's any emails that have come in. Well, there's a bunch of emails. That's why I asked you to put a radio show question in there. In the last three minutes, I've received three, four, five, six, seven, eight, nine, 10 emails, all junk, by the way. And so, it's easy if you put in radio show question, very easy for me to be able to distinguish your email from basically the majority of the junk that I've got. Now, let's go, so if you don't have any requests out here, let's go back simply to the general markets and get a feel for what's going on there. I do believe there's a new profile to share with you that form is trying to form on the Russell 2000. So, let's go take a look at it and see what its message is. Whoops, that's not where I wanted to go. I wanted to go right here. So, if you take a look at the very right-hand panel is the Russell 2000. We'll look at all four U.S. equity futures contracts and you'll see a new profile that is attempting to form. Now, the reason why I say it's attempting to form is DB's using his advanced Doppler tool out there. So, I won't have confirmation until this evening. But right now, we do know where buyers and sellers are. But what we really know is that this has overhead supply. This is a bearish message for the Russell 2000, so long as it stays underneath 2274.60. I would expect a countertrend rally to take as long as this profile does form by Friday to take us up into that range of 2274 level. But the new profile that form is the only one that has formed so far today is from the Russell 2000 and its message is a message of being bearish out here. If we take a look back over to the left-hand side, you'll look at the ES mini and the ES mini continues to find resistance at about the 4658 level. That is the bottom of its daily profile. And if price is unable to get above that, it's telling us that, okay, it wants to go ahead and try to bust it to the downside. Now, the downside here for the ES mini would be the weekly profile. And that's at the 4504 level. Now, there's some other areas that we can take a look at. I know there's a TD9 account breakout level that's above 4504. But right now, we're just focused in on the profile levels out here, and that would be the downside target. Now, likely the ES mini is not going to get down there unless we see the NQ close below the bottom of its bullet-structured profile. And that's at the 16055 level. But as I mentioned during the update out here, the NQ has not been able to close above the high from the trading day of November 23rd. In essence, we've just simply been trading sideways out here in a little bit of a consolidation. Now, equity-future contract really not doing a whole lot today, although it has a TD9 account bottom, as does the Russell 2000. Steve Rhodes with TFNN will be right back. Steve Rhodes started his trading career as a student almost 20 years ago, and the student has now become the master. Steve won the prestigious Timer of the Year award in 2018 and barely missed that mark again in 2019, finishing it number two for the year. An amazing accomplishment. 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TFNN airs live financial content streamed live on TFNN.com and TFNN's YouTube channel with Tiger TV, live every market day from 8.30 a.m. to 4.00 p.m. Eastern for free. Each host is an experienced trader with their take on the market while taking calls and questions live from around the world. From the moment the market opens until the closing bell sounds, Tiger TV has eight different shows with expert hosts to help you make the right moves with your money. Watch online at TFNN.com or on TFNN's YouTube channel and become the investor you were born to be. TFNN, educating investors. 727-873-7618. So the chart that's up on our screen right now, it's a 30-minute time frame chart for the NASDAQ. So note the NASDAQ. The NQ was the strongest of the four. You and I, we took a look at the Apple yesterday. We saw that Apple was suggesting that it wanted to move higher, which it did. I believe it might have gapped up to the upside here this morning. But if we take a look at the NQ, we can see that price earlier in the day. No, we're just using a line chart out here. So we're just simply looking at closes, each of the 30-minute closes out here. But what you're going to see, these are the levels of resistance to watch. And the first one is about the 16-413 level. If price can close above that, suggest we move up to 16-433. You can see those yellow horizontal lines on my screen out there. And if the NQ can close above 16-433-50, then we should have a further rally up here. But right now the strong dog is really struggling where it has fallen down in the past out there. That's really all that we're doing. Now, we're going to go from this 30-minute set of charts out here. And we're going to go over to this one chart, I should say. And we're going to go over to the 30-minute equity future contract chart, the ones that you're used to seeing out here. And there was a question about, is this the time period to buy the dip or buy the dip in the NQ? And so the answer would be, you can make that case. And the reason that you can make that case is because price has pulled back to its T-99 breakout level. And that's at the 16-184 area. It hasn't hit it right to the T. Maybe it does that while we're on the air here during the next a minute or two. But that would be a potential level to go ahead and buy the dip. We don't have any kind of bottoming signal or anything. So what you would be doing is you would just simply be buying a dip of price pulling back to its breakout area. Now, if we were to have said the same thing inside the Russell 2000, which formed a nice arrangement of indicator top early this morning, you could see how price just blew through that one. Now it's on its way to its next level, at the 21-94 area. If we look at the ES-Mini, the ES-Mini has not made its way all the way back to its breakout level, 45, 73, 25. So if the NQ does turn around here and you were saying maybe you would take along in the NQ, I'd say, you know, maybe you take along in the ES-Mini out here because price hasn't even got back to its breakout level. I'm not suggesting that you do that. I am suggesting that you do pay attention to the NQ to help you make those decisions. There's nothing inside the Dow Equity Future contract that's really going to assist us at this stage here. So it's about paying attention to the NQ. You know where that resistance area is up at the top, in the 16, 4, 13, 16, 4, 33 level. We do believe if price could close above 16, 4, 33, that would tell us about a further rally that happened today, a further rally, likely into the weekend Thursday or Friday, but anything can change in a moment. So that's what's going on. We take a look at the short-term timeframe charts. Ruby writes in, inside the den, can we take a look at natural gas? You're long again at 4.25 after your report before the show. Thanks. So let's go take a look at natural gas out here. We'll go take a look at, so as I can find it, give me a moment out here. So as I can find it, where is natural gas? Natural gas is in the natural gas section. I just have so many tabs right now that I'm struggling to find where that section is. Okay, it should be right after lights be accrued. So here's natural gas. And Ruby, you're trading the January contract or did you switch over to February just yet? Regardless, though, and you know what I want to also do? I want to switch, oh, you're not even taking a look at my screen. Mr. Bill was getting ready, and I'm sure to bop me upside the head with a two-by-four saying chart. There you go. I knew it was coming, and that's a beautiful thing out there. So now let's go ahead and take a look. Here's the charts that I was looking at. While you're doing that, I'm going to go on my other screen and get something fired up here so that we can take a look at. Let me try to do it this way. Trading natural gas. Hopefully this works. Sometimes it works. Sometimes it doesn't. So here, when you take a look at natural gas, so here's a slight problem that you've got Ruby, and that is that price is below the bottom of the weekly profile. So whether it's the January or it's the February contract out here, January's contract price low is $43.47. $4.347 is what I should say, and in the February contract, you're down to $4.275. So with price being below those levels, we really want to be able to see some kind of bottoming signal. My other charts are trying to fire up here, but I just have too many things open and we'll come back to it. What else should we be taking a look at inside of natural gas out here? They're slowly pulling up. So it looks to me, Ruby, and I don't have all the charts here. So I'm just going to tell you what I see first and then we'll go to the charts. It looks to me like the January contract is trying to pull back to $4.089. That is the bottom of its weekly TD9 breakout level. Now, I believe on the daily timeframe chart, we're going to see the same thing. It won't be the first TD9 breakout level. I believe it is the second out there. And so I don't see the signal from those timeframes to suggest that you take a long position. But you're more of an intraday type trader, I believe, if that is correct. And so really what you and I, what you would ask me to do, I think, would be to take a look at those short-term timeframe charts. So let's do this here. Let me see if I've got a question that has come in where I don't have to rely on my white background charts for the moment. And then we'll come back to natural gas because it's just not populating as fast. Well, come on, maybe I'll say that and I'll say, come on, populate, populate, populate. Well, let me show you what it is I'm looking at right now. I won't be able to move the charts until they have fully populated, but at least you'll get a feel for what I'm looking at. So if, in fact, this is just kind of intraday type trading out here, then what we're really focused on are the short-term timeframe. So one of those would be, as an example, the 30-minute. So on a 30-minute chart out here, you've got erodesment of indicator bottom. It's not clear to me if you're going to get a TD-9 count bottom or you're going to get a TD-9 count bottom. Price has got to close below 4.273. You're at 4.285 right now. But Ruby, on a short-term basis, you've got erodesment of indicator bottom. That's assuming that in the next six minutes, this bullish engulfing candle doesn't give it up, and price is running right up into resistance. That's at that oscillator and change line. That's priced at 4.287. So Ruby, on a 30-minute basis, if price can close above 4.287, you should see a run to 4.387 to 4.48. That's coming from the January contract out there. If I look at the 60-minute timeframe, that's in your bottom left, you'll see it's also trying to form erodesment of indicator bottom pattern. That's going to form a bullish engulfing candle here. It just depends on the close. The 120-minute chart has got bar number nine of a TD-9 count. The 240-minute chart has got bar number eight of a TD-9 count. The five-hour chart, which is populated, isn't helping us out. But what I really want you to focus on here is 4.089. You can see that's a breakout level in the daily. That's also the breakout level on the weekly. I believe that is more likely than not where natural gas is headed to. And that is another reason to suggest that is with price being below the bottom of those weekly profiles. So I hope that that helps you out with regard to natural gas and there's not much else that I can add. So thanks for the request out there. Now let's go to our next request. This would come in by email from Jeff out here. And I need to get back to a different set of charts. So just give me a moment to do that. And then I have to remember to change the screens out there. So we're going to do that. So you're not just looking at that woman running past. I'd have to say in my second favorite set of rocks out there. So let's go take a look at suggest questions about Netflix. So I'm going to go back to the black background screen and we'll punch that in. First I'm going to get Netflix going on my other chart. NFLX. So what is the question? First let's say let me get my work here set up. Where is the three time frame chart? NFLX. Here we go. NFLX. Sorry about that folks. So I got to actually type in the correct symbol out here. Very helpful. So Jeff writes in Jeff in Tennessee. Please take a look at the support levels for Netflix for the next few weeks. Okay. So Netflix. I think we talked about Netflix yesterday. It's got a roadsman to mitigate her top is my recollection. Your next level of support because price closed below the bottom of the daily out there Jeff. Your next level of task marker profile support is 61724. That's the center of its weekly profile. When we get back we'll go take a look at my wife background chart. See if there's anything else we can find for you. We'll be right back. Are you having fun trading the markets but having trouble finding like minded individuals to discuss your trading and investment ideas with become an apex predator in the trading markets and join the Tiger's Den trading room only at TFNN.com. The Tiger's Den is an exclusive trading room where successful traders from around the world come to exchange trades and ideas. Join the Den and surround yourself with the sharpest minds in the trading world. Subscribers to the Tiger's Den are also the first to have their questions answered live on air and can privately chat with our TFNN hosts live during their shows. 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We've got Stevie's white background charts, the Ninja Trader charts out there with many of my tools. And so, Jeff, the next level of support for you is 62865. That's courtesy of the TD9 count breakout level. Now we don't have any kind of a bottoming signal. In fact there's likely an A to B equal CD to downside. We'll go back to the black background charts out there. So we may have a confirmed A to B equal CD if the volume from yesterday exceeds the swing point that had passed. But you still have a potential level of support at 62865. If that area doesn't hold on a daily basis it says 549. I wouldn't go there just yet as the 549. Instead I come to the weekly chart and look at those profile levels. And so 61724 would be 1 and then 58037 and 51230. Now I do have a wave number 7 top out here. That is the 7th wave move. That is letter G courtesy of the Chapman wave. So you do have a valid top on the weekly basis as well. Monthly chart, not so much. Not yet. And the monthly chart says, Jeff, to watch the 622 area. My screen shows 62221 but it's not going to be exactly that number as price pulls back. So it's in the 620-ish type area I would say and the price were to close below that. Then the other levels that we were looking at should come to fruition out there. But back to the daily time frame. What kind of volume did Netflix generate yesterday? Netflix had volume of 5.6 million shares. Was passing the swing point that had to come to fruition? Now what you have out here is you have a confirmed A to B equal CD to the downside. Now in order for that A to B equal CD to the downside to come to fruition out there, price is going to have to take out that TD9 count breakdown resistance. So that's how you'll know if in fact Netflix is going to try to fulfill this A to B equal CD. Now the one to one takes us to 62147. I don't believe that is where maybe even 587. But we have to take this one step at a time. We'll let the markets tell us. But with regard to your next levels of support inside of Netflix, you're looking at 61724 on the weekly chart. That's the center of its profile. And on a daily you're looking at 62865. So Jeff, thanks so much for writing in. I hope that helps you out and have a wonderful Wednesday. The next question coming in from Marty. Marty wants to take a look at Saba. Well, that's good because that day in and the tiger's down, that is one of his favorite stocks, I believe, although he may have many. But as we take a look at Saba sciences out here, the question from Marty is, what do the charts tell you long and short term for Saba? Well, with regard to a short term timeframe, prices trading with inside its bullish structured. No, it's not take that back. It's not a bullish structured daily profile. It's a more of a bearish structured daily profile. But if you're asking me, where is support? 4796. Now that level was already tested once. It was tested on November 17. In fact, price closed below that. But Stevie's got the two-day rule out here. The very next day price got back above that. So that's your key level of support. Was that one of the things you were looking at? Yeah. So now if price breaks through that 4796. Well, let me get Saba on my other school. So you've got, let's finish it off this way. Come on, Steve. We'll get your act together. 4796 is one level of support. Bottom of the bullish structured daily. 4511 is another level of support. That's the bottom of its bullish structured weekly profile. And that's it, really, because the monthly says 2887. So we're not going to go there. So we've got 4511 and 4796. How about the white background charts? White background charts say watch 4311. In fact, I would say you'd want to really consider being a buyer at the 4311 era. That's the breakout level. When price pulled back, pulled back October 29th and November the 1st. That is where price found support. What price did was it made its way all the way up to its breakdown level in 9663. Can't bust them up. What's it trying to do? Bust them down. That's exactly what appears to be going on right now. So you've got your support areas. That's coming from the daily time frame. The weekly set of charts out here is not providing us with any more information. It does say that if price were to close below 4511, we'd be looking at run to 3605. So Saba sciences looks like it wants to head lower. I'd really watch that 4311 area to the extent Marty that you're looking to get into a long-term position. So thanks much for writing and hope that helps you out. Next question here going to Eddie and Eddie writes in, let's see here, is there so the indices started out strong and now getting soft. You still think the bottom is in for at least the next two weeks. Also can you go over what you touched on yesterday, Tom a Brian show about the possibility of a downturn in the markets for the next two to four years. So Eddie I'm going to come back to that set of questions out here if I have something else to look at because that's going to require me to get something else set up. So what we'll do is during the breakout here I'll go ahead and pull that information up and I'll come back to your question. So let me go to the next one out here and that is from David H and David wants to take a look at Tesla T S L A out here. So let me get that fired up on our set of charts. Steve, based on your work, do you see that Tesla could hit 1200 by this Friday we got the 1160 calls. So in order for that to happen out here, you certainly want to see this stay above 1131 48 1131 48 is the top of the daily profile. It's the only profile that comes into play on David when we're taking a look at this. Now prices moving higher and it's pushing into a swing point from November 22nd and the high there was 1201 and you're asking can it get to 1200 that swing point had 33 million shares yesterday you were pushing with 27 today you're with 12 so you're pushing into that swing point with lighter bottom now you're still in it so you could get up there but it's not ideally what it is that you'd like to see out here so is it possible your question was based on your work do you see Tesla do I see that it could and the answer is it could but it's missing that volume component that you would like to see now see if the white background chart provides with any additional information out here and on the daily timeframe shoot what the move higher today it's been thwarted by Stevie's Greenland the oscillator and change line currently printed 1164 so that's another area where price going to need to close you did see a close above that today that would be a signal that yeah price would go ahead and make a run for that swing point that you're looking at if you don't then you're kind of a neutral territory as long as prices above 1131 but below 1164 you're really in a neutral zone it says geez I would be guessing and I don't really like to guess I like to have conviction behind what it is that I say and if it's a guess I have conviction behind hey I would be guessing and that's not really what you're looking for another weekly chart looks pretty good let's look at the short term timeframe charts what do we have out here 30-minute TD9 count top and that is being challenged right now and if price can close above geez how did I do that talk about spinning the wheel if price can close what the heck I got to the weekly alright back to the 30-minute chart what that's weird I guess I wasn't looking at a 30-minute chart for Tesla so the 30-minute chart for Tesla looks like it's going to get down maybe to 1125-53 1125-90 so that's not looking good for you although it's just a 30-minute chart 65-minute chart not helpful 130-minute chart not necessarily that helpful 195 so you know what your question is a solid question I understand you've got those call options and when I take a look at Tesla out here it's not clear to me that it's going to do that it just doesn't have the volume and being I wouldn't do anything until the end of the day if you get it close above 1164 stay if you don't and you've made some money you know maybe you go ahead and take those profits off the table Steve Rhodes with TFN will be right back and we'll go try to answer Eddie's questions from the price you should be paying per square foot in certain up-and-coming areas to the type of cash flow investment properties are capable of creating tiger real estate can help you make the best decision when it comes to all areas of the market so if you're looking to sell your current property for maximum value or you're in the market for a second home or investment property Tiger Realty has the experience 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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 we've got a chart up on our screen here so this chart takes us back actually the data that I have goes back to 1896 I don't know why on this chart here it began in 1926 but hey come on that's back fairly far right we're looking at about 100 years out here and so when you just put up the annual charts the yearly charts out there so I've got a tool you're familiar with the TD9 count tool I can use that to also count consecutive closes now I need at least two consecutive closes either higher or lower in this case here we're just studying the moves to the downside and so if we go back to 1926 out here we'll see that the top that was set in 1929 that was a move lower for four years so you can see the ones the twos and threes the multiple numbers are just simply my archaic system right now I did not intend to use this tool for this purpose but it allows me to get those counts so I'm looking for just simply going back through time whenever we've had bear markets out there you know what what what is that resulted what should we take a look at so we had a four-year decline from the top in 1929 back in 1941 we had a three-year decline back here in the 1972-73 time period we had a two-year decline 75-76 was a two-year decline out here if we move forward 2007 top as an example was a three-year decline so what we're seeing here and there's a couple back here you'll see some two years back that was a 73-74 so we've already taken a look at now granted the sample size is small it's not really that small we went back to 1926 out here but what we're seeing is that the period of time when there's some type of significant top typically last between two to four bars or two to four years in this instance so I did that was what I was referring to there so that's the first place so then we fast forward to what's going on right now inside the Dow now this is the Dow equity future contract out here and as we take a look at coming off of the bottom from March of 2020 this one has the counts up at the top and it has the counts at the bottom again we're just focused the counts at the bottom so we can see the first retracement essence was a two consecutive month and by lower closes it's closed it's closed versus closed not intraday versus intraday it's just closed versus closed so you can see you got that two bar bottom it's basically a knee jerk a bottom you've got another two bar bottom you have a three bar bottom you've got another two another two another two another three and last week was bar number three for the Dow equity future contract so the thought process there was if the trend is still in effect out here then we should see a we should see a higher close from last week now last week close inside the Dow equity future contract was out at 34 6 30 what and we're trade right now at 34 5 2 so what happens if we don't close above that well that would seem to indicate to me I don't know about to you not that it couldn't be a bottom because it can take place between two and four bars out here but it would really suggest that what we are looking at out here since those March lows kind of like vaccines they're waning okay and that says hey maybe we've got something else here to consider which really goes into your question here Eddie about do I have that same kind of conviction that we're going to move higher into the end of the year matching in essence the seasonal factor and I'll have to get back to you on that one and what I mean by that is you and I've got to take a look at the chart here so if in fact the Dow closes below last week's low I would say hmm something to think about so those are the charts Eddie I hope that that helps you out and sometimes we just have to wait for the charts to do their thing and tell us what the information is and that's certainly what we're going to do in this case here so I do hope that that helps you now what's going on inside the market day is totally expected right why would you say it right Steve well I would say that because what do we have take place yesterday we had that one day rate of change it was above 10% yesterday's one day rate of change of the spot volatility index was 18.42% so we've gotten a bounce that is associated with that so that part of it is over the New York Stock Exchange advanced decline oscillator extreme oversold condition we talked about that yesterday so so far the bounce is just working that off just a bit but right now in Eddie and I really showed it to you this way or you know we went to the short-term time frame charts to help us answer those questions and as we take a look at it give me a moment here that's this chart I believe yeah so here's the NQ this the strong dog and the strong dog you see those you can see resistance it is clear as can be at least it's clear I could I don't make this stuff up now we're just looking at closes out here sometimes that's important to do so not unless the NQ gets above 16 433 Eddie would I then say okay yeah we've got a good chance to rally and move higher so hope that helps you out thanks much for waiting and have a wonderful Wednesday the next question coming from Hector and the fuel injectors and that would be and they pass on happy Wednesday greetings to each oh by the way Garro in case you're listening I received an email yesterday I believe it might have been from a Mike but I I apologize but I received an email yesterday and Garro he was complimenting you so because of your calls in and my pulling up your charts out there walking you know allowing you to walk us through what you look at your parabolic SAR tools out here this individual has started applying it to his trading and he says he's just having really great results using that in combination with the other tools that he uses out there so I wanted to thank you I want to pass that along to you Garro and certainly want to thank you and everybody else if you've got some other trading system that user ideas you know no reason not calling to the show and you know we can take a look at that together and see how your system how my tools might be able to add to what it is that you're doing out there to assist you with your trade to Hector though and the fuel injectors out here and that is happy wonderful Wednesday we're back at Jim Moo which is not a bad Saki out there that is Tiger's favorite Saki and it's not Stevie's favorite Saki but MU is a ticker symbol and that's really what not what Hector was going about was Moo the Saki he wanted to talk about Micron technology so Stevie's just trying to get to my three panel charts out here and now we can go ahead and read the question the question goes like this move on a weekly ABC volume mucho strong okay so I've got my weekly chart out here it's got the potential for an A to B equal CD but I wouldn't say it's an A to B equal CD at this stage here it's got to take out its swing point of 96 96 can you please work an A to B equal CD projection and I love the I love the further to the left of the CD especially with the good good so Hector on a weekly base I don't have an A to B to the upside I can draw one in which I have here and we'll just simply expand out that chart and it would look like this to me well went away so let's actually draw you in the larger A to B equal CD what I would really call the correct one so if this were to form an A to B equal CD in order to do that it's got to take out the 96 96 level and so let's take a look at this so you've got your eight point down here would be March of 2020 that makes sense the B point out here is the high from April of 2021 April 12th I believe that was the C point is a slow down here into October the 11th so yeah it's moving higher out there yes it's along the C to D the left hand side so let me get rid of these retracement levels out here so I'll tell you what Hector's looking at and rightfully so so Hector's looking at right now the potential why didn't it delete that moment here there we go so now it's a little bit cleaner so Hector's looking at he's saying hey look at this price move along the left side of that C to D leg and that is mucho grande strong but we won't have an A to B equal CD until price takes out this swing point on a weekly base there was 93 million shares up there last week of course a holiday oh 104 million shares not bad this week so far 69 but you got to get about 96 96 Hector with regard to micron to get that A to B equal CD to come to fruition we'll be right back sharpening your skills as an investor is like getting better at playing a musical instrument you have to practice sure but you also need excellent instruction from experts at TFNN you'll get advice and guidance from the authority and technical market analysis and it's not just dry tedious text either TFNN airs live financial content streamed live on TFNN dot com and 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Petersburg, Florida for four years paying 7% per year a $7,000 per a $100,000 invested your investment is secured by high value real estate in st. Petersburg, Florida your investment can be anywhere from $100,000 to $500,000 you want to make $1,000 per year on $100,000 invested a $7,000 per year on a secured target first mortgage the target first mortgage program may be just the program for you the target first mortgage program pays 7% per year paid monthly for a $1,000 investment you can call 877-518-9190 that's877-518-9190 Don't forget you can listen to TFNN live on your mobile device 24 hours per day go to tfnn.com and hit watch tiger tv that's TFNN.com and hit watch tiger tv Welcome back so hector you've got some resistance on mic You didn't ask about but I'm assuming you're long in this position out here. So your next resistance level is where price hit today, 87.71. Now, it's moving higher with some pretty good volume. You got 23 million shares behind it. You really want to see price take that out. If it doesn't, does that mean the move is over? No, no, no. Just means it could consolidate and pull back to the 83.95, maybe even 82.70. So that's one level for micron that you've got. The next level above that profile is this T9 breakdown resistance level. That's at 90.68. And that's the area where you really want to see price close above. But because this has a roadsman dominicator up, it's really that high from April 16th. And that high is at 96.96. And until price gets above that, will you be in the clear to the upside? But I see what you're saying. And that's great to get that guy off the screen, would you? Get that guy off the screen. You know who I'm referring to. So we've got about a minute to go. Let's go take a look at, get updated on the short term time frame charts here. If I can get to it, newsletter equity futures chart. Get me change screens out here. And we'll get right back to this. So we were talking about the NQ. And that's really an area. It's really what we should be focused on, my opinion. Because if this starts to fail, then the rest of the market should, which it's already had some failures out here, should continue on. So when we take a look at the NQ, testing, remember that the body of the candle is the essence of price. The wicks on these candles out here, the uppers, shadows, lower shadows, that's just the screaming Mimi, so to speak. So if we see a close, a body candle close, low 1618475, the NQ, then we should see price move lower. If that holds, which it has so far, then we could see price bounce up. And we should see price bounce up to about the 16, 315 this area, you can see and look at the very upper right hand corner chart. See how that oscillator and change line just change colors. We should see price net line catch up to each other. Folks, stay tuned. You've got two more wonderful hours left. David White with the Power Trading Hour. He's up next. He's followed by Obi-Wan Kenobi. Tell him, O'Brien, he'll take us on home. I'll be back with you tomorrow on Thursday at one o'clock. Have a wonderful Wednesday, folks. We'll see you again soon.