 The following is a presentation of TFNN The Trader's Edge with Steve Rhodes All now toll free at 1-877-927-6648 or internationally at 727-873-7618 The Trader's Edge Now Steve Rhodes Good day folks welcome to the May 27th the fantastic Friday edition of today's Trader's Edge show I'm your host TV perseverance of 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. Hey, let's make sure we have an extraordinary one The easiest way to do that is 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 Means we can find the gift in every set of circumstance that life is gonna toss at us now today You and I we're gonna go check on the circumstance of these markets We're gonna go figure out what those bulls and bears with those buyers and sellers are communicating to us at just past 8 o'clock in The morning that's ready if you're listening in at the normal time frame will make the show as pertinent as we can We'll be recording today's show between eight nine. We'll be recording Tuesday's show We're gonna be off on Monday for the holiday. We'll also be recording that from eight to nine and then on Friday as well Next week from eight to nine so a little bit of a scheduling shift there But nonetheless, let's go ahead and get started on this Fantastic Friday now I would love to hear from you and he give us called 877 if you're listening live 877-927-6648 as well if you are listening live, but don't want to call in you can always send me an email Steve at tfn.com is where you'd send it to in the subject heading if you'd be kind enough to put radio show question Of course our tigers den any ping will do so let's go ahead and get this show started on fantastic Friday Of course, this is tiger financial news network. I'm Steve Rhodes. Welcome to less show I've got all us in to see us equity futures I should say trading to the upside that I would just slightly up by four points and as that fixed 60 points S&P 9 Russell's up five points if we take a look at what transpired overseas last night in asian, australia Their markets finished higher hangs hang up nearly 3% and in the s&p 200 in australia that was up a little over 1% Europe this morning you've got the DAX trading up seven tenths or 98 points the footsies up a quarter of a percent or about 15 Points out there. So kind of a setup like we've had the last couple of Fridays Which basically it means the handoff here is that US equities should continue higher today We should should not be surprised to see the US market Finish higher we'll take a look at levels where price will be targeting or levels that have taken out would suggest even higher price as well You've got gold trading up 11 bucks. That's six tenths percent two percent for silver, which is 42 pennies You've got platinum up eight bucks palladiums up by 29 bucks coppers up two pennies lights recruits trading back nearly a buck trade I don't want 1313 natural gas which has a TD 9 count top. That's trading lower And which is to be expected straight out of 855 30 your treasure up 19 ticks. She's trade at 140 209 US dollar is off just slightly out there So, you know the easy way to just kind of summarize what all that means or at least what some of this means is look at my Little nine panel market update chart out here. So we begin by take a look at the ES minute What do we know about the ES many well first it's going to target its most recent higher It should target its most recent night. That's a swing point from the trading session of May the 18th And that's at 40 95 now price close above 40 95 odds favorite will make your run First for 41 20, which is the center of its bare structured weekly profile that'll be confirmed on Monday But it looks pretty good right now or the top of the daily profile at 41 68 or the top of the weekly profile Which up at the 41 98 level now those areas will be attained So long as the spot ball of till next which right now is trading below its 50-day Exponential moving average. I'd write down the figure of 27 54 We closed below it yesterday. We get a second consecutive close today That suggests that the spot ball of till next wants to go target its lower Bollinger Band reading That would take us into the 21 28 level and if that's going to unfold We're going to see the ES mini make its way up to the top of the weekly profile out there Which is the 41 98 level. I'm not saying by when I'm just saying that those would be the conditions now If we take a look at the NQ out here the NQ's target is going to be the center of its barest structured daily profile And that level is 12 622 and 12 622 really gets us back to the prior swing point from a the 18 that high was 12 594 so that's really your range 12 594 12 622 now price can close above 12 622. It's going to suggest to move to 12 995 US dollar index today should I won't know till the close But it may form a TD 9 count bottom now that says today's low or it could be the low Early next week that would form the bottom and we've seen the US dollar prices trading below right now The bottom of its Bollinger structured weekly profile, but nonetheless, you've got a TD 9 count pattern That's gonna again likely to form by today now that also it doesn't mean necessarily But the euro has a potential for a TD 9 count top today I know the yen had a TD 9 count bottom a couple of days ago And I believe that the Great British Pound also has got a TD 9 count top So a lot going on from a potential change in trend signal in the currency area with regard to Goldilocks Gold is running into resistance and there's really that the resets trading up a bit that 9 10 11 bucks trading out at 1858 But it's trading right into a resistance zone. I'm not saying that I can't take it out I am saying that it's trading into a resistance zone That's between descending trend lines But more so the top and center of its barest structured daily profile That's between 1861 and 1872 if price can close above 1872 We likely will see a run up to the 1937 ish area, but there is any sending trend line Below that but one step at a time and that first step is price has got a close above 1872 If we take a look at silver out here silver is Overcoming it's the center of its barestructured weekly profile that suggests it's gonna go target the top of the weekly top of the daily That's between 2276 and 2288 if price can take out 2288 That would be a very bullish signal for Goldilocks the case of lights we crude She's targeting the 1 1643 level. That's its prior swing point high natural gas So you take a look at a night TD 9 count top that confirmed also confirmed erodesment to mitigate her top out there now Prices blow it's a certain change on you can't see that here on my charts But I know that that is the case and so the first target to the downside could be The top of its daily profile and that's currently priced at 7 63 so no new profiles there in the case of the 30-year treasury We can see that it's trading between trend line resistance Which is where it's trading to right now and trend line support It's got a really narrow cone of silence out there So don't know that we're gonna get a whole lot of activity out of 30-year treasury today So overall that's what's going on inside of the markets Let's go take a look at some details and go a little bit underneath the covers out here and to do that Let's go ahead and start with the NQ by starting with the NQ. We've got their multi-time frame set of charts out here and The daily time frame just shows us well first there is a completed actually, you know what I should do is do this Give me a moment here Yeah, so let me do this I'm just gonna just so that you have the bigger picture then we can go back to the Intraday charts out here the daily time frame. So I just want to make this way I'm giving you kind of an overview for the for equity future contract So if you take a look at the ES mini the S mini actually formed a Gartley by pattern two weeks ago was a bullish hammer candle I know it's hard to see when we use these bar charts out here But it is a bullish reversal candle from the weekly standpoint. Well, actually no, I can't do that So you've got a confirmed Gartley by pattern that really should take price up to the 41 98 level That's the top of that Barry structured weekly profile. The NQ has a three drive to a bottom pattern That has been confirmed out here That says price could run all the way up to the 13 868 level new profile on a weekly basis attempting to form for the Dow Equity future contract as well It has a bull sash candle as we speak right now So it too could be confirming a buy the D point pattern Steve Rhodes with TF and N will be right back Booming inflation we are purchasing powers eroded. There's no better place to protect your hard-earned money than in gold This the golds flagship asset is the Monk Todd gold project in the Northern Territory of Australia This is Australia's largest undeveloped gold project. 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Tom O'Brien is here to help Tom O'Brien has been successfully trading markets for over 30 years a frequent contributor to TD Ameritrade Network and CNBC Tom O'Brien founded TFNN over 20 years ago to help educate investors just like you Tom's daily market newsletter market insights is published every morning when the markets open to give you the competitive Informational edge you need to succeed These newsletters are packed full of Tom's advanced technical analysis in our gear to deliver comprehensive strategies for a successful portfolio Get Tom O'Brien's newsletter market insights today and try all of our products and newsletters 30 days risk-free With our money back guarantee at TFNN dot com TFNN educating investors Are you in the market for buying or selling real estate in the Bay Area including the surrounding St. Petersburg Tampa and Clearwater markets? Tiger real estate LLC is a firm that has extensive experience in the Tampa Bay area Whether 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 across all areas of real estate in the Tampa Bay area to help buyers and sellers make the most informed Decisions across all price levels 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 before you make one of the biggest Decisions of your financial future called Tiger real estate LLC today at 727-329-8322 Or email us at tiger at TFNN.com that 727-329 8322 call us today Call now toll free at what 877-927-6648 internationally at 727-873-7618 Welcome back folks we've got US equity futures trading higher pointing higher the Dow only up by six points and NASDAQ's up 46 right now in the S&P as many as up by seven points before we go take a look at the details on the NQ We do have a question has come in so I want to get to that again You can if you listen in in between eight nine go ahead send me an email Steve at TFNN.com Put the radio show question in that subject heading if you will and just as Doug did here So thanks so much Doug and Doug says he wants to take a look at Costco COST is the ticker symbol out there. He says I'm long Costco Would like your opinion on getting out now on this bounce or should I wait for additional signals? What's a good stop loss price target out there? Okay, so was you take a look at Costco? Let's do this here Moment this because I can visually show you we'll switch back and forth between screens I'm gonna go to this little three-planel screen out here And we're gonna take a look at the daily time frame chart out here So the daily time frame chart here for Costco Doug Shows a A to B equal CD to the downside and that was completed when I say it's completed It was completed because we generated a bullish reversal candle on the trading day of May 23rd That was your bull sash candle would also transpired on the very following day was a bullish structured profile And yesterday price closed above that now You're trading into and as you know and I think the reason why you're writing in you're trading into a resistance zone Which was established by this gap to the downside Since price is already above the top of the gap meaning the high of May 18 that how was 463 86 Price should at least be able to fix and repair that window that gap to the downside that broken window and that low is at 480 23 so that says you know you might want to stay here, but if you're you're asking about a stop This is how I would trade this at this stage here because you've got the valid bottom I would take yesterday's clothes, which is 464.99. I Would take a look at the 10-day average true range, which is $19 and 47 cents and I would make my stop 1947 times either 1.272 or 1.618 the reason is because you don't want to ever stop within $19 because that could just be average normal daily movements And you know I get knocked out by that when you have a bottoming pattern that is out here confirm bottoming signal So that would be my recommendation But if you're more conservative then you know once you just know that once you get inside the once you get Into a stop that is less than $19 and 47 cents You got to say to yourself all that make it really tight because now what you're doing is you're really jeopardizing You know if you put it in 1947 is now that would be a bad idea That's just the average 10-day movement out here Recognize it's probably not going to be that large part of that being that big huge gap to the downside that we're taking Look at on May the 18th So that's what these charts show us but let's go take a look at the multi-panel set of charts that I've got Out here from my ninja trader's got most of my tools out here the monthly basis What we have in Costco was what really just price pulling back to support the support level would have been getting down to 395 10 so far this month. It's gotten down to 406 51 So close enough out here price is back above the center of that bullet structured profile So that's a positive if you take a look at the weekly chart You had a teeny nine count top that and that turned into a road's meant to indicator top and price pulled back to its Second breakout level at 448 50 now There's no bottoming pattern that I have here the bottoming pattern came in on the daily time frame that you and I just looked at now Price also above that red oscillator and change line. So again all this suggests higher price now higher price to wear Well, the next higher price level that I can see out here comes from the weekly chart And that would be at the 521 40 level the bottom of that profile So that is a but that's a price target now the 195 minute chart as we came into the close yesterday Form bar number eight of a TD nine count pattern So you might get you might be getting a at least on that time frame Which is the only time frame where I see a valid top signal No, the 15 minute has about top signal as well So you may get some type of pullback retracement. I want you to prepare for that or anticipate that Doug That may just be normal and natural and price just simply could be pulling back We could pull all the way back to 432 Which I wouldn't be pleasant. I'm sure with it at 464 now I'm not saying that's what's going to happen It could at this stage here, but I really need to see the open and the first hundred ninety five minute session Before I can really comment fully on the hundred ninety five minute time frame chart the 15 minute chart a different story You can usually see a pulled price pulling back to 458 70 in fact I'm curious. Where is price trading in the pre-market out here? Let me go take a look here 456 70. Okay, so that was the 15 minute bottom of its profile out there So if that's the case gonna and it may gap down then your next area of support Is 451 to 453 that's coming from the 30 minute time frame out there So I hope that helped I hope that provided with the information you were looking for Doug Thanks for taking the time to write in and have a fantastic Friday and a great holiday weekend So now let's go shift back and take a look at the equity future contracts Let's do some of the play-by-play there and again We're taking a look at the NQ now in the case of the NQ actually let me do this first here just a Again, just to kind of give you a feel for where it is that and where it is that is yesterday It generated a bullish crossover from a market-based standpoint now What I mean by that is we know at least as of this morning We have 208 instruments inside the S&P on look at the I went to do the NQ. Sorry I Mean We'll come back and do the S&P, but I was really talking about the NQ out there So my apology, but we're gonna show it started has the same pattern out here Which was a bullish crossover yesterday and here what that means is that we have 40 instruments Trading them up the top of their daily profile that is considered to be bullish Of course, it doesn't take any consideration of potential topping pattern for those instruments But just simply trade above a profile is bullish whereas trading below the bottom of a profile is bearish You've got 13 instruments there. So we had the bullish crossover yesterday No idea how long this will last but as long as it does last it tells you that you've got bullish conditions for the Anastasia now, that's the daily timeframe the weekly be curious how the weekends here It's not as close. You've got 13 trading above profile 37 trading below profile If you get a bullish crossover here, that's what's going to assist the NQ with continuing its move higher Now we take a look at the Intraday charts early the daily time frame chart first that's on the left This has a by-the-d point pattern it formed that bull sash candle a couple of days ago And I had a another by-the-d point pattern back on May the 13th So it's been doubly ghee confirmed out there Whatever that means what that does mean is again as prior price should go target its most recent swing point I that's the high from a the 18th out there and that's at the 12 594 Right above that is the center of its bearer structure daily profiles at your range 12 622 You on the 300 minute the five-hour timeframe chart. What do we have out here? Did we get to and yeah? We did so you do have so this is interesting because Well, of course, I don't know how the next five hours is going to trade But you do have a valid 89 count top But this says really that price should go target the 12 553 25 level out there and then quite frankly a close Above on a five-hour basis that would mean 2 p.m. So when this show would normally be ended when it's recorded a close above 12 370 375 tells you about that strong momentum move and 12 553 25 now if price close above that Here's a five-hour chart for the NQ We have not seen just so just so you understand that this is not there's would not be the time to sell into this market Even though we're going into a holiday weekend. Why is that? Well, at least with regard to the signals coming from the five-hour chart We would have for the first time price closing above the TD 9 count breakdown area and that would be a bullish signal So what you're watching for whether it's 8 27 in the morning or it's 1 27 in the afternoon The question is is the NQ trade about 12 543 25 and does it close above that? And if it does that then suggests to run up to the 13402 75 area That's the message from the five-hour chart for the NQ. We can see we've got a couple of intraday Topping signals out here. We come back to this break. We'll take a look at the sport Are you looking for a way to consistently add winning trades to your portfolio? Tom O'Brien is here to help Tom O'Brien has been successfully trading markets for over 30 years a Frequent contributor to TD Ameritrade Network and CNBC Tom O'Brien founded TFNN over 20 years ago to help educate investors just like you Tom's daily market newsletter market insights is published every morning when the markets open to give you the competitive Informational edge you need to succeed These newsletters are packed full of Tom's advanced technical analysis and are geared to deliver comprehensive strategies for a successful portfolio Get Tom O'Brien's newsletter market insights today and try all of our products and newsletters 30 days risk-free with our money back guarantee at TFNN.com TFNN educating investors TFNN has just launched their new trading room the Tigers Zen hosted at discord TFNN has been educating traders for more than 20 years with live programming hosted by a variety of professional traders during market hours And now they are expanding their reach with the Tigers Zen available to all Tigers and Tigris's for just one dollar for the year There's no cash or added costs when you join our community of traders in the Tigers Den you can look over the shoulders of Tom O'Brien and the other TFNN hosts while they Analyze charts during their live Tiger TV programs and join an interactive trading community with hundreds of members exchanging ideas interact with other Tigers and Tigris's as they share trading ideas news analysis and discuss the market action all Trading day even at night and on the weekends the Tigers Den at discord is accessible on mobile or tablets as well So it's always at your reach to sign up today and become a part of this educational community of traders Just visit the front page of TFNN.com TFNN is excited about our new software charting program the art of timing the trade charts in Collaboration with Tom O'Brien and using his best-selling book the art of timing the trade your ultimate trading mastery system David White has programmed an outstanding piece of software that will complement any traders methodology Using this first-of-its-kind program the art of timing the trade charts allows you to scan thousands of stocks for Fibonacci Formation setups including Gartly's ABC's butterflies and much more the art of timing the trade charts is designed to help you when Scouring the markets for stocks just beginning to form the trading patterns that many investors spend days weeks or even months Searching to find and right now. We're offering licenses available at only $79 a month. We are so confident that you're gonna love this new charting software that will even give you a 30-day Unconditional money-back guarantee 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 So we had a question coming in the from the den from Dan and great question this question is this what's the lowest NQ close to maintain the bullish thesis out there So the charts that I've got on the screen here right now We'll go back to those intraday charts momentarily, but here I've got the daily and the weekly time frame chart So the numbers that I posted in for Dan were 11 576 25 to 11 689 So obviously the number would be the lowest number which is 11 576 25. How did Stevie arrive at that? Well, we've got the confirmed a to b equal CD pattern of the downside both on the daily and the weekly The weekly was a bullish hammer candle and so it's really the low of that bullish hammer candle We could get another bullish reversal candle today that could set that a Bit lower to last week's low, but I don't you know I don't know how the week's gonna end out here So I've got to go with what I do know factually and as if you did get a close below that 11 689 level Dan Then that pattern will have failed and that would suggest lower price and the lower price quite frankly That would be the target would be somewhere between 10 468 to 10 10763 that is both from the this is the quarterly time frame chart that we're looking at and if we go from the 2008 bottom not 2009. Oh, I think I probably chose 2009 out here. I really should I don't know about the end queue. So on the end queue It's it's it seems to be okay So from the 2009 bottom to the highs which was November 22nd of last year That 0.382 retracement would be the 10763 area if we go from the March 2020 bottom To the high from last November the 0.618 retracement gets it to 10468 So you'll hear David our favorite polar bear talk about confluence This is again where we have the convergence in this case here It's very tight area and you would expect if price did get down there Dan that that would be a potential really good Buying area, but right now what the markets and that may be where price is headed to quite frankly But in this short-term timeframe meaning today Tuesday Wednesday next week and maybe even for a couple of weeks out here We shouldn't see a rally, but we need to see prices get taken out key levels of resistance get taken out So that would be the downside action out there 11576 by the way was the low of the candle that formed the bull sash candle That formed out here on the trading day of May 25th So I take the low of the pattern out there and that's where the 11576 Level comes into so that's how I answer that question But you would see other signals prior to that that's what takes us back to those interday time period charts Where we said let's go take a look at any kind of support levels on any kind of further pullback here in the NQ Which we may or may not get for the a day that it's possible that the Bottom is is in here at least that's what the five minute chart could be suggesting to us But as we take a look at these charts out here the 120 minute chart has formed It did this as we came into the eight o'clock hour It formed a nice little bearish dark cloud cover candle and that confirmed a rogment of indicator top However, and prices below the top of that profile But the key level of support that is testing right now and if it just holds this level which was 12 286 or so That's very bullish and if we get a close above the current high of the overnight session That would be a 12 370 375 damn what that tells us is price wants to move higher So that's what I'm watching for there So it's really the signal for the two-hour chart is neutral with regard to the 30 minute time frame chart It has a confirmed rogment to indicator top, but prices pulled back to its support level It's bullish structured area 12 303 to 12 318 So again if the high of the day gets taken out is telling you about the market that wants to move higher out There the 15 minute chart its level of support would be down as about the 12 to 44 Area should we get a flush for the during the next hour or so to the downside, but there is this possibility that the Intercession low Has formed and has come in out there. So at least that's it That's what the NQ charts are telling us Let's go switch over take look at the ES mini out here In fact, we'll go through all of them that way we cover everything for everybody as much as we can So as we take a look at the ES mini charts the key level here that we're watching for the day Or maybe it's next week is a 40 95 That's a prior swing point a price able to take that out that should get us to 41 68 if we get above 41 68 It's the top of the weekly profile the top of the weekly profile That's attempting to conform this week out here for the ES mini is at the 41 98 area And that's really where I believe price is likely headed to 41 98 over the coming week or how out here Maybe it's a takes a couple of weeks to get up there But that's my at this moment in time that is my price target to the upside now That really won't be confirmed until you get a close above that 40 95 level out there Is we look at a five-hour time frame chart? We don't have any kind of a it could form At 2 2 p.m. It could form a TD 9 count top out there. In fact, it's likely to do that at 2 p.m This would be the bar following bar number nine hundred twenty minute chart much like the NQ Roads meant to mitigate her top of price holding that green oscillator and change line The 30 minute chart had a roads meant to mitigate her top price is not pulled all the way back to support Which would be between 40 47 and 40 52 out there the 50 minute chart Which had a TD 9 count roads meant to mitigate her top right now price trade above its green oscillator and change line Got ten minutes to go but if it close above 40 68 That says it wants price wants to run back to its high and if it takes those highs out here That tells us that we are Continuing the move higher so again the way that the charts are looking the actual dip for this morning may have already taken place Let's go take a look at the Dow at the future. Oh, I didn't see that. Give me a second down here folks. Sorry about this We do have a call. It's a Brent in Martinez, California. Hey, Brent Thanks for calling and thanks for holding. I appreciate that. How are you doing this morning at 5 36 a.m. On the west coast? I'm doing great Steve. Good morning to you. How are you? I'm doing well. Thanks for asking looking forward to a nice extended weekend out here Always love these we only get like about five or six. I think during the year Yeah, should be nice you guys having some good weather back there You know, we're we're heading to summer So it may as May is unfolding and that means that we get lots of afternoon showers out here So but that's fine. It's all we need rain. No problem with that. So but it's all doable I always start my day typically with blue skies out there and that's the beauty of living here in Florida So I know the people don't want you know to hear me talk about the weather too much But you're calling about a general market question out there. So fire away with the question We'll see what I can do to help You're starting to touch on it there a bit just Trying to figure out I'm sure as everybody is you know, it's just gonna be something that's gonna last a bit longer I mean the one thing that I would observe is that Seems like we've had a lot of trouble going beyond a day or two, you know of any kind of a Rally back the other way. It's easy been a one-day move and that's back the other way and now we've had I Think this is going to be the fourth or fifth day at least on the Dow that that we've had positive action. So Just wondering what your general thoughts are if you think this is gonna last a bit longer I know that's just a guess but And I know you've given numbers I guess we just have to look at each one of these levels that if we can get through then we can you know Potentially go to the next level and I just wanted to get your thoughts on what you said we That this might last a little bit longer than what we've had, you know, still in the last few weeks here Sure, sure So during the break here, we're gonna go to a break in about 30 seconds or so I'll try to pull up some some other charts for us to take a look at but we've been down Basically, I believe we're now down for eight consecutive weeks seven or eight consecutive weeks in a row on the NASDAQ on a weekly basis that is and if you go back to the 2007 top out there and you take a look at the NQ I believe it may have gotten down to nine consecutive weeks to the downside So it's gotten extremely over sold and because of the weekly Bottoming signals that we've gotten here Brent that suggests to me that we should see at least a two week rally That that would be just a normal knee jerk reaction But Brent we'll come back to answer that question in just a few moments folks So please stay tuned. You got double equity futures up 80 points right now the NASDAQ up 106 We write breath back with Brent to bring his help If you want to take advantage of this sector now is the time to subscribe to my gold report The gold report is a comprehensive look at the metal sector as well as the markets that move gold Which is the currency and bond markets news subscribers get a 30 day money back guarantee So you have nothing to lose every monday morning I publish the gold report with coverage of gold silver bonds the xAU hui gdx as well as more than 30 different mining equities To see for yourself the types of profitable trades that are recommended within the gold report Sign up now by visiting tfnn.com. Don't miss out on the next great gold trade. Sign up today Are you in the market for buying or selling real estate in the bay area? Including the surrounding st. Petersburg tampa and clear water markets tiger real estate LLC is a firm that has extensive experience in the tampa bay area Whether 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 across all areas of real estate in the tampa bay area to help buyers and sellers Make the most informed decisions across all price levels 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 Before you make one of the biggest decisions of your financial future call tiger real estate LLC today at 727 329 83 22 or email us at tiger at tfnn.com. That's 727 329 83 22 call us today Are china a shares hot or not? If you trade china a shares now may be time to take a closer look trade chau or chad Directions daily csi 300 china a share bull and bear etf's china a shares in either direction Visit direction investments.com today an investor should consider the investment objectives risks charges and expenses of the direction shares carefully before investing The prospectus and summary prospectus contain this and other information about direction shares to obtain a prospectus or summary prospectus Please contact direction shares at eight six six four seven six seven five two three The prospectus or summary prospectus should be read carefully before investing an investment in the funds is subject to risk Including the possible loss of principal the funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor four-side fund services LLC This program is brought to you by vista gold traded on the nyse american and tsx under the symbol vgz Folks we're on the line with brent de martini's california. It's a 542 in the morning out there 842 On the east coast and brent specific question is how long do i think that the rally could last out here And this is the chart that i wanted to show you brent This is uh just simply the numbers that are out here show consecutive closes above the prior weeks close or So whether it's a move to the upside those are in black or to the downside now What i want to focus on here are the uh the rallies to the upside since the november 22nd high out there and let me get my cursor and what i want to share with you or show to you Is that since that high? We've seen a couple of rallies that have lasted two weeks out here Meaning a close above the prior weeks high and we've seen one rally that lasted three weeks So the answer to my question because we have a gartley buy we have the a weekly gartley buy pattern That was confirmed last week with or two weeks ago with the bullish hammer candle That hammer candle was tested last week and this week So we know those buyers are really trying to hold this area out here And this is going to be week number one So i'd say at least through next week out here for a rally that would get us to two So two to three weeks would be the logical knee jerk reaction rally based upon what we've seen here Inside the nq. Does that make sense? It does. Yeah, very much so. I appreciate it. Yeah, no problem So, you know, and they if I take a look at the I just switched this to the daily time frame out here You know, we're only last uh yesterday was just day two in that rally So, you know, what i'm expecting here at least at this stage is that we could see some type of short-term top form Let's say by today's trading session and then we get a pull back on tuesday Or maybe we get another rally in through tuesday and then a pullback on on wednesday But we should see just a bit of space about normal trading and these parameters out here You can see even on a daily basis the number of Number of days consecutive days where we've had a rally before some kind of pullback the maximum number has been four So yesterday was day number two today likely to become day number three So between today and tuesday should set what we would see would be a short-term top out here. Does that make sense? Yeah, it does Now if I switched screens out here I'm going to switch screens We're going to go to the black background screen to help again answer this question We're going to take a look at the new york stock exchange the advanced decline Oscillator out here and what we're going to see as soon as I can get to it brent What we're going to see is this is in the extreme overbought territory, which is yesterday closed at 248 57 the last time that we were up at this high Well, I'd have to go back into the time period of about june 5th 2020 It got a little bit higher june 5th 2020 the closing advanced client oscillator reading got up to 326 37 So this may move higher today market breath may move this higher today But this also tells me that we're nearing a point where we should expect or anticipate some type of retracement Now with this indicator, we could see price continue to move higher But the advanced decline information started to move lower and create some type of divergence Sometimes it works that way sometimes it pulls back as the advanced client oscillator pulls back I don't know which one but this again adds to the idea Okay, a couple more days rally then a pullback and then a further rally that could last through the end of next week Or maybe the week after there And then the the last piece of that puzzle with regard to the rally continuing And and this is all of us and this is how we would put it all together is take a look at spot volatility index And so long as that spot volatility next remains below its 50 day exponents moving average That's the bottom left hand panel folks the 50 day is out that blue line You can't really see it But if you look to the data box it shows that 27 53 and as long as price remains below 27 53 We closed below the 50 day yesterday. We're trading below it now And you get two consecutive closes that's then going to suggest that it should go target about 21 28 So the caveat to the rally continuing brent would be seeing that spot volatility And even though it doesn't deal with the nq it's just dealing with the s and p 500 out there But as long as price remains below that then that I say that that's what provides the energy To move prices higher to get this two to three week rally out there That was fantastic stese Thank you so much. That's uh Pretty much summed it up. That's more of my thinking and I Honestly at that point we're probably looking to go short because I just think we're still Have a lot of issues out there that have to be contended with and and uh Would make sense at that point to at least be looking there to do something like that No, absolutely. And and then the best shorting area then this would be the ideal don't know that'll work out But the best shorting area would be uh about 41 98 And that is and i'm assuming that this new weekly profile It's attempting to form inside the es many is going to take hold And that is the top of its bearish structured profile If price closes above that For two consecutive weeks Brent, then we've got something else out here. In fact, what we would have out here We would have that the signals for all of the u.s. Indices out here are the primary indices I should say and this is the cash indices each have bottoming patterns out here And it was the nasdaq 100 that was the last one to give that signal out there And that was uh when it formed a bull and this is the cash industry not the nq when it formed a bullish engulfing candle A couple of days ago So now what i'm watching here in the cash indices is how do they deal with those prior swing points like 32 654 For the uh dow 40 972 for the s and p 12 5 64 10 for the nasdaq 100 Uh for the russell it it's 18 40.29 for the semi conductors 30 71 56 And the new york stock exchange already is broken above and closed above the level that we're looking at In fact, this is setting an a to b equal c to the upsides The general market the new york stock exchange is the one that's saying yeah, we're headed higher But if the other indices can take out those prior swing points, that's just another indication that we should head higher as well So that's my overall view of the markets. Great question. I appreciate it very much Brent, is there anything else that I can do for you? I think that's it. Well, let's take it a day at a time and I appreciate you providing all the levels that we need to be watching That makes it uh An easier exercise to try to take on Excellent excellent. Hey brett. Thanks for calling. Thanks for waking up so early have a fantastic holiday weekend And we'll look forward to speaking to you again soon All right, do the same steve. Thank you so much for having a great day and a great weekend We'll do we'll do that was brett in martinis california John and the tiger's den asked, uh, what has your vix indicators signaled? I think I might have answered that question for you I hope um Although that was just sent in two minutes ago, but if not um And john says I can envision a scenario where the s&p is bottomed for the year in absolutely It is a possibility. It is a possibility with these weekly Um gartly by patterns that have formed out there But john I think that the the answer to that question for you and I to To be able to say that that is what's going to happen Is when the market proves itself, right when the laboratory proves itself to us and that laboratory proof Um based upon other studies that I have done would be if we see the s mini closed about 4198 That's the top of that weekly profile. I'm assuming that that is a profile. It's going to take hold We'll know when we're together again tuesday morning at about 806 807 808 a.m When we record this show live during that time period If we do see a close above the 4198 Level for two consecutive weeks out there then then I say yes Then what we've just seen here is a possible scenario where we have seen a significant bottom Of course in that case because we have gartly buys we start take look at retracement levels as different price targets along the way And i'm on that screen right now. So then i'll just take the e s mini and i'll just simply Blow up this chart so to speak blow it out so to speak out here So here you can see the gartly buy and the gartly pattern for those of you that are not familiar with what a gartly pattern is A gartly pattern if you take a look at h.m. Gartley's book on page 222 You really take a look at his uh His is a chart that is out there that shows an a to b equal cd to the downside And uh and that is in this case here when you have a large move off of a low Well, then we're taking a large move off of 2020. This is a weekly chart out here It's very powerful in the e s mini. I haven't had a chance to write in the uh retracement levels try to put those in as we speak right now and uh For 41 91 is the 0.382 level out there steve roge with tf and n we'll be right back The reality is that navigating financial markets can be risky Markets can be chaotic and difficult to understand Having the latest market advice can help you turn this chaos into a key for creating winning trades At tf and n we understand that it can be hard to find reliable market news That's why each of our market experts offers their very own market newsletter A must-have tool for every trader out there striving to find an edge in today's markets tf and n newsletters cover every aspect of the markets so you can analyze the market before you trade Try any of our great newsletters risk free with our 30 day money back guarantee Just visit the newsletters tab on the front page of tf and n dot com tf and n educating investors Everything in the universe is governed by the fibonacci sequence This mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market To stay on top of stock patterns You can take advantage of sign up for the fibonacci 24 seven newsletter at tf and n dot com When you subscribe you'll get a weekly report from veteran day trader Larry pesavento on stocks you need to pay attention to and you can trust larry's analysis After all he's got 45 years experience as a day trader larry will also provide daily charts videos And data on the key markets that he's tracking expect notifications from larry on market movement You need to act on at any time first time subscribers also get a 30 day money back guarantee If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up Subscribe to the fibonacci 24 seven newsletter today tf and n dot com educating investors Are you looking for a way to consistently add winning trades to your portfolio? Tom o bryan is here to help Tom o bryan has been successfully trading markets for over 30 years A frequent contributor to td ameritrade network and cnbc Tom o bryan found a tf and n over 20 years ago to help educate investors just like you Tom's daily market newsletter market insights is published every morning when the market's open to give you the competitive Edge you need to succeed These newsletters are packed full of tom's advanced technical analysis In our gear to deliver comprehensive strategies for a successful portfolio Get tom o bryan's newsletter market insights today and try all of our products and newsletters 30 days risk free With our money back guarantee at tf and n dot com tf and n educating investors Don't forget you can listen to tf and n live on your mobile device 24 hours per day Go to tf and n dot com then hit watch tiger tv dance tf and n dot com then hit watch tiger tv Welcome back folks and thanks much for joining me early We're going to record tuesday show between eight and nine So, uh, please wake up early and join us for some tea and crumpets out there And then again on friday of next week. We'll also record it between eight to one nine We've got the chart here for a gold up now This shows you how gold is trading right now in all of the major currencies and and establish bull runs or bear Runs out here. You want to see gold trading in the same direction for all major currencies It's not just about what gold is doing in terms of us dollars out there You want to understand what traders that have their local currencies in euros or yen or pounds and you want to understand If gold is trading higher in dollars But your local currency is pounds and it's setting lower as it is right now Out there. Are you really going to be a buyer? No, I don't think so So put yourself in the frame set of what our traders around the globe looking at How is what it is that you're trading trading in all currencies out there? And if it's moving higher in all currencies Then you know that there's traders around the globe that are celebrating right now You've got gold trading slightly higher in terms of us dollars Slightly higher in terms of euros a little bit lower in terms of yen and lower in terms of pound So it's not like we've got at least that 855 in the morning It's not like we've got a clearer signal that gold wants to rally and you can see it's trading into its resistance levels Descending trend lines very left hand panel chart out there. Let's take the next 30 seconds If you were close out the show go take a look at the dow equity future contract We had covered for you in detail the es and the nq out here as we take a look at the dow equity future contract It's trading right now. I believe it's trading above its prior swing point high, which was uh, 32 692 So this is suggesting to you and I that price should go target 32 875 unless we see some other topping signals out here If I look at the uh, five hour time frame chart price is trading above its breakdown level That is a positive. Here's a five hour time frame chart for um, the uh Dow equity future contract so that looks bullish as well if I go down to my short term time frames out here Nothing significant to worry about so it should be rally on watch that spot bulletin It's a day's end and that close below the 50 day expenditure moving average suggests that this rally Extends itself, but we should see a short term topic for today and probably Tuesday. 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