 Sign up today. The following is a presentation of TFNN. The Trader's Edge with Steve Rhodes on 877-927-6648 or internationally at 727-873-7618. The Trader's Edge. Now, Steve Rhodes. Good afternoon, folks. Welcome to the April 30th, the Thursday, Thursday 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, well, 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 circumstance. 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're going to go figure out what those bulls and bears, what those buyers and sellers are communicating to you and I, just past one o'clock in the afternoon. I want you to know that I'm absolutely grateful for your presence here, but much, much more important than that. During this next 60 minutes, I'm here to serve you. So feel free to pick up that phone. You can dial on in 877-927-664. If you can't dial in, we've got you covered there, too. You can always send me an email. Let those fingers do the walking. Send me an email to Steve at tfnn.com inside the subject heading, please put radio show question and in our Tiger's Den, well, any ping will do. So let's go ahead and get this show started on terrific Thursday. Of course, this is Tiger, Financial News Network. I'm Steve Rhodes. Welcome to less show right now. We've got all the indices in the red with the exception of the spot volatility index. The Dow is down 362 points, about one and a half percent. S&P up one and a quarter percent, 37 points. NASDAQ down only three tenths. NASDAQ 100, four tenths of a percent. That's 32 points. The Russell is the big percentage loser. It's off three and a quarter points percent, 44 points. The summaries are down three percent. There are 54 points out there. You've got the spot volatility straight down to 3476. Up 11%, watch that one day rate of change. Although lately because of these wide swings out here, I'm not so sure I rely completely on my one day rate of change, 10% tool for the spot volatility index. But it's still in play, but maybe a bit shaky these days. You've got gold down 17 bucks and silver's off 29 cents. That's one and nearly 2% in silver. It's 1.9%. Lights we crude is up 16% or two bucks in change. She's trading at 1747. Gold's up a couple of pennies and Treasury bonds, 30 years up 19 ticks. As we speak, Amazon has leading the charge dollar wise to the upside of 44 bucks. Service now is up 26. You've got ABIO Med is up 24. That's 14%. To the downside, booking holdings are 41 or two and three quarters percent. Credit acceptance corp. We had looked at that yesterday. Don't remember what our take was on it. Off the top of my head, but it is down 33 buck runes as we speak. Auto zone is up 27. Let's go to our first caller. Our first caller is going to be Jim and Palm Harbor. Jim, thanks for calling. Thanks for holding. How are you? I'm good. Steve, how are you? Very good. Thanks so much for asking. And Walmart is the, I believe is what you're calling about. If so, tell us what you're looking at and how we can help you. I'm looking at a medium to short term trade, maybe like a swing trade it. It seems to be kind of stabilizing here at this level. And I just wondering if you thought it'd be a good place to put this pullback. I've been waiting for some kind of pullback in it. And I'm just wondering if this is good enough. So sure, sure. Okay. So great question. So Jim is looking to get into a long position inside of Walmart. And we can see here that over the last couple of days, that this is pulling back. We can see pretty wide ranging bar on a weekly chart. That's a center panel of our screen out here. And so one of the first tools that Jim and I are going to look for, we're going to hunt and peck for where support is out here. And what we can see here, Jim, is that yesterday was not really a good scene for Amazon. And what I mean by that, and this is based upon the daily timeframe chart, is that was a bullish structured profile, bullish and structured because there were more buyers lined up. There's only buyers basically at the bottom of the profile. That was 127.09. There's both buyers and sellers at the center of the box. We can see how close that is at 128.66 to the bottom. And then you've got at the top, which is where sellers are at or resistance 133.38. So Jim, I like to say there's nothing more bearish than a failed bullish pattern. Not so that this is a pattern, but failed bullish pattern from the standpoint of strong support and price gap down through it. And there was volume yesterday, pretty good volume. So then that just says, okay, where do my eyes go for the next level of support? Well, it would take a look at the bear structured weekly profile. That top of that box is 120.26. We're trading at 120.50 or so. If Walmart's going to find a bottom, even though 120.26 is the top of the weekly profile, the better potential buy would be at 117.65. That's the center of that bearish structured profile. If price closed into 120.26, one of two outcomes. The bullish outcome is that price gets back to that area where that center was. That's a bear structured 117.65. I see this pattern many times, and that's where price would find support. If price closed below 117.65, boy, Jim, now you're looking at about the 104.61 area. We're not there yet, but at least you have these numbers to pay attention to on any kind of a pullback. Now, we're trading at 120.50 right now. Let me, what the heck is going on with this chart? This is definitely not right. Let me see here if I can reload all the historical data. Any questions based upon what I've given you thus far? No, it sounds pretty good. I had a symmetry retracement to 112.15 as a potential buy point, which is fairly close, but not real close, but you had 117. I had 124 as the higher end of it, but that's when I first started looking at if it was going to pull back. At a time, of course, it was 130.30. Well, let's go with your 112 type area. And so on a daily chart, we can see here that the breakout level, so today's going to be bar number 7, Jim, of a TD9 count. And so if this is going to find a bottom with that pattern, that would say that the low would occur either Friday, Monday, or Tuesday out there. And at this stage, we can't call it even a TD9 count. Just today, this is going to be bar number 7. But the 112 area that you were talking about, I have here is the actual most recent breakout in the daily time frame being 110.94. So it gets us to the 111 against close to your 112-ish type area. And so at this stage of the game, I'd say, yeah, that would be an area where you would try to focus on and pay attention. The 117.65, and if you can get some type of bottom signal on the daily time frame, that may be a place. But because price isn't down there, we don't know what the daily charts are going to look like. It's too hard to say at this stage of the game. But yeah, lower price, I think. And today is not that day that I'm seeing as a buy for Walmart. Right. I appreciate it. I had a TD7 count down on the daily as well. Oh, great. But I know I had that right. You're doing great. You're doing great. Hey, Jim, we're about to go to a commercial. So thanks so much for calling and spending some time with us and have a terrific Thursday. 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Don't miss out on the TFNN Tiger's Den open house taking place now. Sign up today. Call now toll-free at 1-877-927-6648 internationally at 727-873-7618. Folks, that was off 3-11. S&P is down 31 points out here. Boy, I'm starting to have some data issues with the system. So this will be pretty interesting here for the next 40 minutes or so. Let's go to a couple of questions that have come in. Let's see if I can get through this. One is coming in from Dennis about the Bitcoin Trust, GBTC. So I've at least got this chart here where we can take a look at the data. And although I can't draw, use the A to B equals CD tool out here, Dennis, on this version of the software. There is an A to B equals CD to the upside that is almost complete. Maybe it's like around the 1050-ish type area. So that is the potential there inside of Bitcoin Trust is that you could see a Gartley cell pattern form. Now, what you would be looking for over the next several days here would be some type of bearish reversal candle to confirm that pattern. We don't have that today. Also, it looks like it's going to be bar number 8 of a TD-9 count. So with regard to Bitcoin, although I can't show the A and B equals CD pattern out here, you've got that pattern that could be atop. You've got a TD-9 count that is establishing itself. That could be the higher today, tomorrow, Friday, or on Monday. You see that topping signal. And then price would likely pull back into the A-ish type area out there. And that's what I see when I take a look at Bitcoin on the daily timeframe. If I go to the monthly timeframe, 1048 is going to be your significant resistance level. That's Stevie's green line for that timeframe out there. So I wouldn't anticipate that Bitcoin trust is going to get much beyond that. On the weekly timeframe, I don't really have anything out here. What I will share with you, Dennis, I'm sorry. I don't know if this is just a trade or what for you or an investment. Please, everybody listen to what I'm about to say. This may not impact you, but it may impact somebody that you do know. And that's why I want you to really take a role here. To the extent that you know anyone that uses digital currencies has an investment. Basically, you don't use them so much, but it has an investment. It's trying to take an investment in digital currencies. Please tell them to liquidate those accounts. Tell them to get out of that marketplace. I'm not trying to time the top or the bottom or anything out here. Here's what I want you to do. Oh my goodness, this says I lost my connection here. And I hope that's just for the data feed. Maybe someone in the dead could give me a thumbs up if you can actually hear me. Oh man, I'm still there. Okay, great. So what I want you to do is I want you to do, you can do this research. And the research is I want you to go see what the IMF and the ECB are doing over in Europe. And you'll do the research. And what you will find is that they're preparing to get rid of the paper currency, the Euro, and move to a digital currency. Now, if you think, if you honestly believe that, and then you can go back and take a look at the CARES bill that we had here and take a look at what the Democrats out there, I'm not saying Democrats as, just as, you know, what they tried to push into the first version of that bill was a version of that same digital currency here in the US. You've probably been to places if you've gone out and people are saying, you know, they don't take cash or something like that. You know, the idea that this virus is being spread on cash. Folks, if there's not a wake up call to what's really going on here, give me a break. And you can fill in the adjective there before a break out there. But here's the deal. Here's the important thing. And all it is is really just governments wanting to know every penny, nickel, shekel, anything that you've got out there. And they want to be able to track it, tax it, see what you're spending money on. You want to talk about giving up rights altogether out here. But this is really the important thing. I don't know when it's going to happen. I just know that it is going to happen. I really believe that central banks are going to allow other digital currencies to live out there. OK, if that's what you really believe, if you believe in fairy tales, that would be one of them in any event. So please, trading and so forth, OK, I get it. But be really careful because that is the hot potato. Now, let's go to Orlando and speak with John. John, thanks for calling. Thanks for holding. How are you today? Hi, Steve. How are you? Good afternoon. I'm doing well. I'm doing well. Thank you. Now, last time we spoke, you had taken a short in the S&P 500. I know you're calling about the S&P 500. Tell me what you're doing, how I can help you. OK, I'm looking at the daily. I'm looking at two different candles. One candle is on February 28th, 5.1 billion, and the high was 29.6. Is that going to be a resistance? You're going back to February 28th out here. So the real resistance. Sure. The real resistance level. 5.1 billion in volume that people getting out. Sure. I understand that. So you're looking at that from a volume standpoint. What I'd like to share with you is the real resistance level inside of the S&P 500 for its daily timeframe. And for me, John, that real resistance level is the high from March the 6th. I don't just pick out that date for any reason. I pick out that date and that high because that represents the last time that price broke down using the TD9 count pattern out there. And it's a superb tool for being able to objectively identify support or resistance. In this case here, it's resistance. And you can see it on my chart. Now what the S&P 500 has been doing, it's made one to one A to B equals CD and got just slightly above that. As we speak right now, John, we've got a bear sesh candle. And so today's candle, the bear structure of the candle, if this is what it looks like at four o'clock, this would be the confirmation of a Gartley cell pattern out here in the A to B equals CD lore, the way that I use it. The way that I use it says we have to wait for buyers and sellers to communicate to us what their intention is. And that's why we take a look at Japanese candlesticks at the completion of a pattern. Now what we can also see on the S&P 500 is that my red line has turned green. It did that yesterday. And what that means, John, is that means that the price oscillator has reached the zero threshold level. Now the price oscillator is nothing more than taking a look at the difference between the 19 and the 39-day exponential moving average. When that gets to zero, when that threshold gets to zero, the phenomena that occurs is that we see price over the coming sessions. I don't know how many, John, but over the coming sessions we see my line, which has now turned green and price, catch up to each other. If price were to, however that test, it could be price moving sideways, line going up, price moving down, whatever that test is. If there's a test in rejection, that would be the bullish case because my oscillator on change line is green and green is letting us know that the price oscillator is now at zero or just slightly above zero. And if price tests that and bounces off of that, we would then have a rising price oscillator above zero. And that would be bullish. Now what that would also mean to me is that would be bullish and that price would try to run up into resistance, $29.85. So hang on through this break, because I want to be able to make sure I have answered your questions here. But right now the S&P is trading between support, which is $2,800 and really resistance, which is $2,985. Steve Rhodes with TF&M, we're right back to finish up the questions for John in Orlando. Here are some of the other 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 Mastering Probability today by clicking on the newsletter tab on the homepage of TF&M.com to get immediate access to workshops where I take you step by step how to use an extraordinary set of tools as well as provide great market calls too. Sign up today. 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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 John, before I come back to you, John, because here I can show you the tool in live action out here and why these understanding of the TD9 account support and resistance levels are really, really critical. And that's each of the 30-minute timeframes right now have pulled back to their breakout level. So we're gonna learn a lot probably over the course of the next couple of hours out here whether this move to the downside is anything more than just a pullback to a short-term support level. And so if we take a look at the NQ where it had most recently broken out was 89.2275, no swing point, no nothing out there, but it was the beginning of those nine successive, nine successive closes. Actually it wasn't the beginning, it was the low of that pattern where we saw nine consecutive closes where each close was above the close for bars earlier on the 30-minute time frame and provided us with a nice level of support. So the area to watch there is gonna be on a short-term basis is 89.22 out there for the NQ. I'll give you a feel on the ES because once you break one level and on the ES that level is 28.8175 and the price got down to maybe within a tick or two and has bounced off of that level. But if we do see two closes below 28.8175, John, then the next area is gonna be 28.60 where price will try to find support. So back to the S&P 500, what other questions do you have or did that answer your question about? Yeah, you answered the top side. I have a question on the bottom here on March 23. The low, and it was high volume low. Does that have to be tested on the S&P? It's 22.96? Yeah, or it's not, sorry, 21.92. Well, here's how you'll be able to answer that question. So I'll let the chart patterns answer that for you. Just like you and I took a look at where the TD9 count breakdown level was, 29.8593, the breakout level, because it was a TD9 count to the upside that formed, is 25.7457. Let's say that today is the confirmation of a Gartley sell pattern. We know that the oscillator change line changed from red to green, so we know that price and that line should catch up to each other. If price closes below that line, that tells us that price wants to continue to move lower. And inside the S&P 500, that level of support would be 25.7457. If the S&P 500 closes below that level, John, then that's telling you that price wants to go back and target those march lows. So as opposed to just give you a definitive answer, let the, here, what we have is we have very objective levels to watch to then allow the market, the chart, to communicate to us what its intention is. Does that make sense? Yes, yes. So it's kind of a step-by-step you got to take. It's really the only thing that we can do is step-by-step and try to stay inside your time frame because this is nothing more every market. So it doesn't matter, even though you and I are looking at a chart for the S&P 500, this could be a currency pair. This could be corn. This could be wheat. This could be anything. We're just simply going to use the same tools for that time frame. And it's all about clearly identifying levels of support or resistance that we have confidence in, that have absolute meaning out there, that are standard, that way every single trader that's listening to this show here can use these exact same tools and then it'll assist you for the time frame that you're trading with what the market is trying to communicate to us. A blank chart, it becomes very, very difficult, but we start decorating it with these tools and this pattern out here is so outstanding that being able to help us identify support or resistance and so then it just makes it really one step at a time, one step at a time out here. Just because it's a Gartley sell pattern that could be forming today, what the sellers only have the right to do is go down and try and test support. It's as they try to test those levels of support that tell us whether or not that was some kind of a major top or not out there, okay? Okay, thank you, Steve. Hey, you bet, you bet. Thanks for calling. That was John in Orlando. Let me take a quick peek here, folks. See if I've got any other questions. A couple of them have come in. The first one coming in for Mimi and Mimi wants to take a look at ticker symbol COP. I think that's ConocoPhillips, but let's go see what that is. Yeah, it's ConocoPhillips and it looks like an A to B equal CD pattern maybe underway here. Let's go ahead and mark this in here for Mimi. The A point is the low from March the 17th. The B point is going to be this high that failed to clear the top of its daily profile. That was on April the 9th and it's been for about three or four days out here to create that C point, the low of April 16th. Come on, grab it. Come on. Mimi's waiting. There we go. So Mimi, right now it looks like there's a A to B equal CD that gives you a one-to-one price projection of 1714. Now, the B point was at 3798. That's April 9th. 14 million shares. Yesterday, when price gapped up and moved higher was slightly lighter volume, 13 million shares. So it's not like we've got a confirmed A to B equal CD and that sometimes should make us say, hmm, something to think about, plus you're inside the gap out there. So Mimi, your question was, comment on COP going long. If you're looking to enter the trade, now is not the time. And the reason why now is not the time, even if the A to B equal CD pattern plays out here on the daily timeframe, you're going to see that today is going to be the bar following bar number nine. And oftentimes, and I'm not saying this is going to, but if this is going to identify the top, today's high is it. Now, we take a look at the TD nine count and we look at the bottom that formed here in Conoco Phillips. The bottom was on the day of March 18th. That was the bar following bar nine of that TD nine count pattern that identified the low. Now, on the very next trading session out there, you had the Rosemont-Demindicator bottom that formed with regard to, when that bull sash candle formed. So if you're long, you can certainly stay long and I'm not telling you to exit. I'm sharing with you that this could be forming a top out here and you don't have confirmed volume for the A to B equal CD to the upside and so you'd want to make sure that you've got some kind of trailing stuff. Conoco Phillips over the last 10 trading sessions has been $2.78. And the resistance, by the way, out here is 48.64. Even though I gave you the A to B equal CD, that is where price had broken down. So what you need to do and your stop should likely be, well, you can do whatever you want with your stop, but ordinarily, if you're trying to stay in the stock for the longer term, your stop would be $2.78 times 1.272 or 1.618, whatever that value is, less today's close, that's what you would look at for a stop out there. Now once you get that math, then you can figure out that's your risk. Your reward would be price gets up to 48.64, which you know is a clear resistance level and then you can make the determination whether it is worth it to continue to stay inside the trade or maybe tighten up your stop a little differently out there. Let's go Philips out here. It looks pretty good, but you've got to be a bit concerned about the daily session out there and Mimi, if today's high, there's a close above today's high tomorrow, then that pattern will have failed and likely we're going to take a look at that A to B CD completion in that 47-ish area or wherever their resistance level was that I gave you, which I believe is 48.64. Steve Roach with TFN will be right back. In the next segment, the Tiger First mortgage program may work for you. The security for these first mortgages are building lots in the tax opportunity zone in St. Petersburg, Florida. The Tax Act of 2018 set up tax-free zones across the country where you can build and hold for 10 years and pay no tax on the profits, which makes these lots valuable. The investment is anywhere from 30,000 to 75,000. The interest paid is 7% yearly paid on a monthly basis. According to bankrate.com, the best rate for a four-year CD of $50,000 investment at a normal four-year CD rate of 3.1% would give you income of $1,550 per year or $6,200 over the four-year period. That same $50,000 investment in the Tiger First mortgage program would give you $3,500 per year or $14,000 over the four years. What should you prefer? $6,200 or $14,000 of interest on your investment. If you'd like more information about the Tiger First mortgage program, you can call me at 877-518-9190. That's 877-518-9190. If you haven't checked out the newsletters page of TFNN.com, what are you waiting for? 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And everybody on this thing is just creating some problems. So hopefully this comes back up and I think you can hear myself. So we're good there. But actually, it's not about everything that happens for us, right? So let's take a look at this next question. This is what I mean by it. This is coming in from Joe. Joe says, oh Steve, love your show. If you were three years old and had X to invest in the market, what would you do to start? And Joe says he's a began investor out there. So I appreciate the question, Joe. The question is, goes on to say, what would you do to start? Would you buy some long-term bulls while some stocks are on sale? I keep waiting for this big dip to buy, but those loans we saw in March may never come again. When should I hop on stock like Amazon right now before the earnings? Thanks for your help. So we're going to definitely keep you away from buying Amazon at the top. Not that it can't go higher out there, but I want to come back to first your question. I just want to share with you history because it's so important to learn from history in my opinion, that is. Let's take a look at what the hope we can do with that. I'll just simply start here. I'll put this together during the break when I saw this question. We'll see how good I am putting together this quick little presentation. What can we learn from history? Joe, this is just for you. Everybody else, don't listen. What are the things that we can learn are the Gertley buy and sell patterns. This was created by H.M. Gertley back in 1935, so after during the Great Depression out there, he sold this book for 1500 bucks, sold a thousand copies of that. Think about that. The cost of a new Ford back then, a new Ford was 500 bucks. So worth basically three cars out there. So it's really valuable. And 222 of his book, that's where we come up with the term the Gertley 222. And it's this panel over here on the right. Even though, Joe, this may look like it may look like you don't even know what that I'm talking about. That's okay. Just follow me historically here. But it was this pattern here back in 1935 where we have the first A to B equal CD pattern. I want you to look at number B out here. Diagram B. And you'll see that here's a long bull run, which is what we've been through. A big pullback out there, which is what we also were through. Consider this pullback here to be the March low. Consider yourself that what we're living in right now is very similar, not exactly the same, but similar to the Great Depression. And we're going to be depressed for years, folks out here. We are going to be depressed about what we just allowed our government and our medical people to actually do. But let's just stay here with this. Don't get me off track there, because if you do, man, you'll get a slew of stuff. But here, what H.M. Gertley did was he created that A to B equal CD pattern and said sell the first Gertley in a bear market. Okay. Here's the page out of his book where he's taking a look at his weekly chart here. But what I've done is I've got the historical data. You can see the A to B equal CD pattern. But here we can take a look at it specifically. So here's that same weekly chart going back to 1929, nice hammer candle out there also that formed on a weekly basis that formed at the initial bottom for 1929. And then we saw for like about 21 bars out here, in case we charted with 21 weeks before we saw the Gertley cell. Here's the Gertley cell, the bearish and golfing candle. Now, if we take a look at what transpired from that Gertley cell, and this is what I really want you to focus on, Joe, as there are many people probably back in 1929 that feel the same way. Say, man, look at that low. We may never see that low again out there. And I'm not going to say here to guarantee you that this pattern is going to repeat. I don't have to because that would be subjective. I'm not going to give you subjective information. I'm not going to do that. I want you to learn from history. Now, I don't want to rewrite the history books. But what I am doing is I'm sharing with you the history book. And likely folks back there in 1929 or towards 1930 were thinking, you know, man, I may never see that low again. But thankfully because of H.M. Gertley who identified this pattern, we know what to pay attention to. When John and Orlando and I were talking, we were talking about the Gertley cell pattern out there for the daily time frame. Now, here we can see that the market didn't bottom until 1932. So the question is, well, what was the market doing in 1932 that form that bottom Joe? Glad you asked that question. Now what we can see here is we just simply go take a look at so yesterday we had the first quarter GDP, which was minus 4.2% out there. We're back down to the 2009 level of GDP. So at the same time that the stock market was bottoming in 1932, we also saw GDP bottom. So my question for you and everybody else out there is, do you think that GDP is bottomed? Do you think it's bottomed? If we go take a look at it, it's just not just 1932. If you take a look at the 2009 bottom, now I don't have the GDP level on this chart, but if I did show you it, the GDP percentage is down towards, it's down at the minus 4%. You can see where it was back in 2009. But you can see the GDP low along with the 2009 bottom. And then you can see 1970s low and 1974s low in 1982s low. You can see it in 2002. You can see it in 1991. You kind of get the gist here. Objectively, chart patterns out here are saying, well, if we haven't gotten a gross domestic product bottom here in the U.S., why should we believe that March was the low? Secondly, tomorrow I believe we get unemployment numbers, right? We get the weekly unemployment, the weekly unemployment numbers out here. And here, if we just simply go back into the 1970s out here and we just track the direction of the stock market, that's the upper chart, and we track unemployment out here, you'll see the direct correlation. If unemployment is rising, the stock market is moving down. If unemployment is moving up, the stock market is moving up. You can just see the pattern that is out here. And some people out here that had said, and I heard this early on, and this is why I really wanted to bring it to subscribers' attention, to your attention, because maybe you've heard this too. A lot of people were starting to correlate the corona crash with the 1987 crash. But you can take a look at the blip, just a blip with regard to a rise in unemployment in 1987. You compare that to where we're at now. You cannot compare the 87 crash to where we are at right now. So here is the way. So objectively, you're young, you're 30 years old. What a wonderful time to be coming into the market. And what I'd really rather you do out here is I'd really rather you wait for that next solid bottom. That next solid bottom. And continue to listen to the show or spend some time maybe learning these charting patterns out here. But don't get caught up in the emotional euphora that can be out here. And look, I could be dead wrong. I could absolutely be dead wrong. But I'm just going to present the information to you. If you were my son or daughter, I would be giving them this exact same information. You've got to wait. There's going to be another low. There's going to be another low. We're only dealing with the health stuff. Wait till we start dealing with the economic stuff. Steve Rhodes with TFNM will be right back. The opening call provides traders a daily market overview with regard to the direction of the key indices, selective stocks and commodities along with specific recommendations including stops and targets. You also gain instant access to Basil's subscriber webinar archive from earlier this year, a dark cloud cover and essential market analysis. Ride the Chapman wave today by signing up for the opening call newsletter on the front page of TFNM.com under the newsletter tab. New subscribers get a 30 day money back guarantee so you have nothing to risk. Sign up today. The gold market has taken off top side in a large way in 2020. If you want to take advantage of this sector now is the time to subscribe to my gold report. 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So let's take a look at both those. One was inside the tiger's den looking for where's the support level inside of gold. So here's what we know about the daily contract right now for gold. It has confirmed TD nine count topping that it was bar number eight. As we speak right now, gold is trading below support for its daily time frame. That would be the bottom of its profile and that is 17 0 6 60. Now we have seen this play before. We've seen gold close below support and then the very next session get back above it close below it get back above it. This is where really the Stevie's two bar rule comes as a matter whether what time frame it is but two bars below support. I give you a really good indication, not a guarantee but a really good indication that in fact it has broken through support. So if tomorrow if today we see a close below 17 0 6 60 and tomorrow another close below 17 0 6 60 support is going to be 15 95 20 out there. That's where price would head back to now. There's a pretty good chance that that is really what is unfolding if I put up the five hour timeframe chart. Well I can't tell you whether it is or it isn't right. We have to let this play out. But if you take a look at the five hour timeframe we haven't seen a close below a five hour breakout level. Since gold made its run topside off of the March 19th low price right now is pulling right back into that support area now 2 p.m. and for less than less than five minutes 16 95 40 is the number we're trading 16 93 20. But if you get that second bar close today this afternoon below 16 95 40 that might be an early indication that gold is ready to move back into that 15 95 level out there. So that's what I see when I take a look at Goldilocks. Now if we go take a look at Harmony Gold ticker symbol there is H M Y. The question is where do we see a good longer term entry point inside of Harmony. So let's pull over Harmony Gold and see what it is that we see out here. We can see that price really struggling at the resistance area of 371 a potential buy area would be 329 but you're asking for a much longer term level and I would have to say that's maybe in the 317 ish type area but here's what I recommend that you do Jared. Let's wait to see how gold trades tomorrow maybe right back to me just to remind me tomorrow let's take look at Gold and Harmony as well. Hey folks thanks so much for being here. Stay tuned two more great hours so by the way I'm going to be doing one of those hours three to four but you get your favorite polar bear David White he's up next