 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 727-445-1044. The Trader's Edge. Now, Steve Rhodes. Good afternoon from TFNN. Welcome to the April 18th, the terrific 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's having a great day. Let's make sure we have an extraordinary one. And of course, the easiest way to do that. I mean, easiest way, it's 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. It means we can find the gift in every set of circumstances that life is going to toss at us. Today, you and I, we get to go check on the circumstance of these markets. We get to go figure out what the bulls and the 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 more importantly, I'm here to serve you. So feel free to pick up that phone. You can dial on in at 877-927-6648. If you can't dial in, we've got you covered. You can always send me an email. Steve at tfnn.com and of course, inside our Tigers Denny 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. The Dow 103 points. That's about four tenths or percent to the upside. S&Ps up four points. A little over one tenth of a percent. The NDX 100 is flat. Russell is flat. Semi-Zare flat. Some flat markets out here. Spotball Atonics is down 2.22 percent. That's off 27 cents. Trading out at 12.33. Gold's back two bucks. Silver is flat. Lightspeed Crude is off 13 pennies. Laying the charts the upside. It is snap on ink up $10 or six and a half percent. Chipotle up 10. United Rentals up 10. Pool Corporation up 940. Union Pacific up eight to the downside. Mercado Libre off nearly 10 bucks. Checkpoint Software off about 11. Talasian Corp. T-E-A-M is the ticker symbol. I like the ticker symbol. Can't pronounce the actual name of the company for the life of me. But it's off nine bucks. AutoZone is down about nine. Sleep number down eight. Their sleep number today is $8.40 or 17 percent to the downside. So what do you want to look at? Well, I tell you what we do. Let's go take a look at our first request out here. This came in earlier this morning. This is from Rich D. Now Rich wrote a fairly lengthy question, which is totally cool. I had the opportunity to read it. I won't completely read it here. It's what he's looking for some direction on ticker symbol ABMD. ABIOMED out here and primarily from because it's a retirement account holding, just trying to understand their new media term where things are headed to. So the very first thing Rich D. that we can do is put up our three time frame charts. These three time frames cover our daily, our weekly, and our monthly. And these show us our market profile. So anything that would be trading above the bottom of the box would be trading above support. Daily and weekly, most definitely trading below support out there. Takes us over to our monthly time frame. Now in our monthly time frame, I'm sharing with you both the monthly and the quarterly profiles out here. Price looks to be headed towards 210 to 213. It's trading at 250 right now. Now that's based upon just looking, just utilizing our TAS market profiles, understanding that price is below support on a daily and a weekly level and just taking a look at the monthly bottom of its profiles, the 213, the top of its quarterly profile is the 210 area. That's what this set of charts tells us out here. If we take a look at the daily time frame, I'm going to come out here to this set of tools because here we can take a look for TD set of nine counts. Well, today could be bar number nine. So it is a possibility Rich. This would be more of a leading indicator tool than our TAS market profiles. It could be that today, well, it looks like today is going to be count number nine. Now that would say if ABIOMED, if I could properly pronounce it, is going to form a bottom, that could be either today or Monday. Market is closed tomorrow and that would be either bars nine today as the low or Monday if there's a lower low and anything that would exceed those lows would say that price is headed lower. If we just simply get rid of that TD set of nine count, we'd be looking at price projection of 230. That's the one to two A to B equals CD to the downside. If we go take a look at the weekly timeframe out here, what we're going to notice is this week is going to be week number eight of that TD set of nine count. Now again, the low, in this case here because price is moving lower, we're going to current bars eight, nine or 10. So maybe this is lining up the weekly and the daily. Let's really take a look at this on Tuesday to see if in fact it has formed a bottom. Back to the weekly timeframe chart, one of the things that we'll notice out here, Rich, is that the swing point, and you had mentioned the A to B equals CD pattern. So let's look at the intermediate timeframe. The low of December 24th, which had two million shares, by the way, we are trading with three million shares. So we're below that low with volume. The intermediate term timeframe has a larger A to B equals CD to the downside. Let's go ahead and put that up here on our screen. That's giving us a minimum price projection of $178.58, perhaps even I would say based upon this A to B equals CD formation, $128.06 out there. That's what the weekly timeframe is showing us. So at this stage of the game, short of a bottom having formed today, which we would not be able to confirm until Tuesday, what ABIO Med or ABMD wants to do is trade lower and you now have those price targets, I believe, to answer your question. Let's go out to Palm Harbor and speak with Jim. Jim, thanks for calling. Thanks for holding. How are you today? I'm good, Steve. How are you? I am doing very well. Thanks for calling. And you want to talk about Microsoft, which is at a new 52-week high, if not all-time high today. And how can I help you? Well, for about six weeks, I've been wanting to get into it, but it doesn't do anything but go up. Like, it's got six weeks on a weekly chart that are all closed up and on a monthly chart for four months, it's closed up. And I don't know, I'd love to be able to get in it, but it just keeps going up and I don't see an opportunity to do so. And so in general, do you think it'll pull back if there's a small pull back in the markets in general before it'll pull back a little with the markets or do you think it'll lost cause? Well, no, it'll never lost cause because nothing ever just goes straight up. There's always some type of pullback and then it's a matter of trying to identify, is that retracement a level of support that would have gotten you into the instrument itself out here? But you're absolutely right, off of the December lows, like most things, this thing has screamed higher and it has achieved a new all-time high. It's taken out a daily swing point. It did this during the week here which was formed on March 21st and it had 29 million shares and it's been passed with lighter volume. But Jim, we're gonna go to break here. So if you'd be kind enough to hold on through the break, I'll look at all of my charts out here, try to figure out what Microsoft is doing for you and answer your question. This is Steve Rhodes with TFNN. We'll be right back. The TAS Profile Scanner is the most revolutionary piece of trading software that you will ever try. Wouldn't you like to approach the markets with confidence? As you begin your trading day, it's likely that you'll be faced with lots of decisions. In order to make the best decision, the first thing you'll need is a strategy that will help you minimize your risks. Whether we're in a bull or bear market, a good strategy is to have the tools needed to help you scan and analyze the markets before you trade. 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See for yourself how you can harness the full power of the TAS Profile Scanner by visiting the front page of TFNN.com today, and you'll find the TAS Profile Scanner under the Services section. Remember, with a 30-day money-back guarantee, you have nothing to lose. Don't let another day pass you by without trying out this amazing piece of software that will revolutionize how you look at the market and how you place trades. Sign up today. You can test drive the Tiger's Den absolutely free for 30 days and greatly enrich your knowledge of these markets and how to make your money work for you. Details on the Tiger's Den are on the front page of TFNN.com. We even have new pricing in six months and yearly options. Check out the new TFNN.com now and experience all the upgrades. TFNN.com, educating investors. Thank you, Jim. We're going to take a look at the price on the right-hand panel of the chart, is in a consolidation pattern. And actually, price is really close to the top of that consolidation, 26-6-16, or 26-5-62. Now, I would say, chances are, price is going to take out. Those are the highs from January in 2018. I would not be surprised to see those highs taken out, primarily because if we take a look at how the Dow is performing in euros, that's the right-hand panel that you know. One of the reasons why the market has had such a limited pullback, really since December 26, is because of foreign capital that continues to buy into the U.S. market. It's fleeing out there. Today's a great example. Do you want to be in the euro? Most people over in Europe are saying, no way, Jose. Do you want to be in the Great British Pounds with what's going on over there? We can look at this specifically with regard to how instruments are trading in their currency. Brand new all-time high today with regard to the Dow in euros, markets do not top or the Dow specifically, never. Never tops with an all-time high being made for the Dow in euros and not being made with the Dow in U.S. dollars. What this really tells us is Microsoft may continue to move higher up until there's a little trend line. I know you're a chartist and you can just draw the same trend line from the high. This is a monthly chart that we're looking at the high in January of 2018 and then the high in October of 2018. That is very likely the price target for the Dow. If I take a look at the Dow equity futures contract right now, we take a look at it for patterns out here. There is no topping signal yet. Do I believe that if we were to get a topping signal that Microsoft would pull back seems logical to me. I don't know the weighting off the top of my head for Microsoft inside of the Dow in the S&P 500 but chances are it won't diverge from the general market out here but specifically inside the Dow I don't have a topping signal as we speak. In the case of Microsoft on a daily, this is the daily time frame chart out here as we look for topping patterns, today will be day number 7 of a Tom DeMark set up 9 count. The last time that there was any pullback inside of Microsoft on a daily basis occurred after bar number 9. So if today's bar number 7, Monday could be bar number 8 and Tuesday bar number 9, if there's going to be a pullback and a slight pullback, any kind of pullback in Microsoft, that would be a pattern I would be looking at. So I'd be looking at Tuesday, Wednesday Thursday's price action out there from Microsoft, if it pulls back then at least you know that the pattern prior pull inside Microsoft on a daily basis generated retracement, just as it did quite frankly at the prior TD set up 9 count which was on February 26 it was actually the bar after bar 9 and then price pulled back just as smidgen so if price is going to behave the same way you know I would be looking at that Tuesday-ish date out there price on a weekly basis continues to move higher with less relative energy. The danger here Jim is that the TD set up 9 count on a weekly basis that high was from this little shooting star that formed the week of March 22nd, 2019 and price is now above that and so it's kind of into a new count here and just shows the strength shows you and I the strength out here with regard to that topping signal and the monthly price continues to rise with less relative energy but still you know that alone is not some type of bearish reversal so I'm going to answer your question this way, is there a point in time where it looks like Microsoft might pull back I would say that would be targeted for Tuesday and Wednesday is the market likely to is Microsoft likely to pull back with the market I would say yes you know but can the Dow and Microsoft continue to wage their way higher absolutely and especially because if you're wondering what the put is in the market people think that it's Powell out there they're out of their minds they're insane to think that that's what it is it's nothing more than global flow of capital rushing out of Europe and into the United States we could look at chart after chart after chart and see that out there so what questions after that kind of analysis does that pose for you well that's pretty much the way I was thinking too and I really appreciate your input I listen to you or watch you every day so I really appreciate your program and your insights and I appreciate you well thanks I appreciate that that you do that that was very kind of you to say and we'll look forward to your next call okay thanks Steve alrighty you bet that was Jim in Palm Harbor if I have that correct Florida kind of just up the street so let me just check see if there's any other questions you know that have come in markets are closed tomorrow not the currency markets though so you know you can pay attention speaking of the currency markets you got the the Euro down quite a bit let's just take a quick peek at the Euro you know where is the did I really delete that some gun you know they got it we got it we'll talk to these guys and put the X in a different spot you know where versus the expanded out so now what I've got to do and this would be a bummer I'll do this during the breakout here let's go look at something else because I have to apply some tools to it I don't want to waste your time so then speaking of so let's kind of go back to Jim's kind of question what are the general markets doing out there let's go with that lead out here and are you kidding me really oh man I got all right so what I was trying to show you I don't know what's going on with my system here that that the Dow equity futures contract has been trying to form a new profile it's kind of vanished right now but the let's take a look at the NQ let me see if I can get this one to stay with no even that disappeared when I just did that look as long as I'm at the NQ it looks like prices targeting it's monthly a horizontal trading range I'm sorry it's monthly it's monthly TAS market profile the top of that box is 77 78 by the way I said horizontal trading range because during the break I went ahead and pulled that up for Microsoft for Jim specifically and here what I have is the is the daily and the monthly where's where the weekly go where did the weekly go I must be having a input issue 8 when that happens so Jim if price continues to move higher the next level of resistance which I didn't provide to you was the 128 to 133 level out there so almost shut that down so let's do this here folks are about 10 seconds from going to a break Ruby's got a question with regard to platinum and palladium is looking for some type of target target exit for half of her position out there so try to do that I'll try to get my other chart up and going and that's that so hope you're having a good day and we'll be back in just a few I'm certain you are or strive to be one of the best of the best at everything you do in life it's the most common trait that we tigers and tigers share if you're looking to become the best of the best when it comes to managing your money let me teach you to do what most wealth managers tell you can't be done which is how to time the markets I'm Steve Rhodes author of mastering probability and for the last 12 months timer digest has been tracking my newsletter signals which have earned me the ranking as their number one market timer in the nation for the S&P 500 for the last 12 6 and 3 months timer digest also ranks me as the number one market timer for gold as well the fact is markets can be timed and I'll teach you the exact set of tools that I use that has transformed me into one of the best at what I do sign up for mastering probability today by clicking on the newsletter tab on the homepage of tfn.com and 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 to sign up today the path of least resistance is David White's 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copy of the art of timing the trade charts today by visiting TFNN.com this segment is brought to you by Think or Swim for more information just click the Think or Swim banner on the front page of TFNN.com back folks we're going to go out to Philly and speak with John John thanks for calling thanks for holding how are you today thanks for taking the call and upcoming holiday weekend to you and your family thank you I wanted to ask Steve a question your help please on assessing targets and breakout levels of the Dollar Swiss franc USSSF that currency pair and Steve I bring that up for two reasons one just segwaying your dollar priced in euros making new highs observation and I notice of all the foreign currencies that are currencies in which the dollar is increasingly stronger against the one that is breaking out just this week just today is the dollar versus the Swiss franc or in other words in a different way the Swiss franc is falling versus the dollar yeah and folks what we can see here is what John is referring to I assume John you're just going back to the November 13th high out there which was 1.0125 and you can see that we're clearly above that level right now so just but go ahead John I just wanted to point that out to folks yeah and this Steve we're looking at this pattern Tommy O'Brien has long talked of a market that has you know gone to ice built cause then jump out the creek and then never look back yeah this pattern looks eerily similar to that model and I'm just wondering if this is a lead indicator of a mad rush of capital out of Europe into the US and we're seeing it happen first coming out of Switzerland and of course we all know Switzerland is not a part of the European central bank and that means something and I'm not sure what that means but as a clue as a lead indicator please share with us what upside targets we might be looking for if this thing really gets going yeah so you know John what I'll do here first I'll put on the daily time frame chart because the daily time frame chart is above a prior swing point and folks what I'm going to do here and the swing point I'm going to use for the A to B equals CD pattern is the March 7, 2019 level out there and so here's your first price projection if this is a real breakout and we'll just simply use the A to B equals CD tool which is going to give us multiple price projections but the first one would be in the 103 level maybe 102, 8, 7 the next level above that that was the 1 to 1 A to B equals CD I kind of messed up there I'd rather do this correctly I see I grabbed the wrong swing point there it's not going to change substantially but I know there's no reason to not be accurate so there's the correct 1.03 really 1.03 and above that would be 1.041 would be the level so it's a daily time frame chart this would be the price area moves we see that when we put this on a longer term time frame it gives us a little different perspective out here because we can see yes we're breaking above a swing point but really from a monthly standpoint we would say that the key level that the Swiss franc US dollar needs to break above is 1.033 out there and that takes us back to the here's another creek so to speak John for us to look at which would be the high from November in 2015 and that high was tackled and rejected in December of 2016 so I would say and this seems to line up with the daily A to B equals CD pattern we just looked at so I would think that here we're looking at the Swiss franc getting into that 1.033 level and then above that you know the next swing point doesn't really come into play until about a $1.17 or so hey the beauty here is we see you know a series of higher lows even on a long term basis and then a long consolidation period that has been in play when I say long consolidation period just going back to about August of 2015 out here so that's what I see when I take a look at it what say you Steve thanks very much for pulling up that last chart it's the monthly in Tiger TV with that 1.17 mark that was a high back in 2010 just an observation here yes the dollar Swiss franc has been exceedingly quiet now for a number of years and certainly if it's been quiet for a couple of years it could be quiet for another year but it's you know you and I both and you know all market students have seen this sort of long pattern many times where conceivably just a major base and once you get going in seemingly a blink of an eye you get a major move and I'm always asking these questions where's the next major move coming from because in these periods of very quiet market action you get lulled to sleep and then you get major moves and you said oh what happened and you look back and you said oh jeez if I only been prepared I could have made a bunch of money whereas I hadn't made much money and I'll say the preceding couple of months and hence my question and well I think the cool thing the cool thing John is that you know we know that if price can take out the 103 level in 2015 that there's a pretty decent chance that that 117 target comes into play because this so called lull that you're describing we can clearly see it in the green rectangular box on a monthly level again taking us back in the 2015 and yes we see a break right now above a prior swing point the most recent one but we also know that it's really at this 103 level where we've got its next resistance so I would say we just take it one step at a time above that then you've got your consolidation breakout your quick move as you've identified which is a possibility and you know that that's what the charting that at least that I'm looking at right now says to me that picture of your measured move idea that's very helpful all dovetailing potentially 115-117 Steve thanks so much and you all have a good weekend already you've been always good to talk to you that was John in Philly so let's try to step over and take a look at the wow that's because I got the wrong instrument up here that's not what I wanted to look at anyways here's the platinum chart now as I recall we looked at platinum and palladium the other day Ruby and I don't believe I've got the current contract so I'm going to go grab my other charting system because you're asking me a very specific question so I'm going to grab the continuous contract which should be good enough for you and I for this for this point in time so you're trading out at 903 30 and you're asking me where is a good point to exit half of your position I'm going to do this when we put up the daily chart here Ruby I think this assist you with that we know where sellers have resided on a daily time frame the resistance is the April 8th area and so as price gets into that area and we'll take a look at this we'll come back from the break the top of which is 920 40 the can't break through that it's probably a place you want to take half of your position we'll be right back if you're in the CD market and looking for a secure investment the Tiger first mortgage program may work for you the security for these first mortgages are building lots in the tax opportunity zone in 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 in the country as of February 20th is 3.1% a $50,000 investment at a normal four-year CD rate of 3.1% would give you income of 1550 per year or 6200 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 6200 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 we're waiting for all of the TFNN newsletters are informative up to date, affordable and must have for every trader looking to gain a competitive informational edge in today's markets TFNN newsletters cover every aspect of the markets to offer you the very latest in market news plus new subscribers get to test drive our newsletters risk free for 30 days from all aspects of the markets including stocks, bonds, metals commodities and tech there's a newsletter to fit your needs exclusively from TFNN stay informed each day you trade and get the competitive edge that will help you stay ahead of the game visit our newsletters page by going to TFNN.com and click the newsletters button near the top of the page TFNN.com educating investors biotech is booming but for how long whether you think the biotech bull has room to run or has run its course trade L-A-B-U or L-A-B-D directions daily S&P biotech three times bull and bear ETFs visit directioninvestments.com slash biotech 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 866-476-7523 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 principle the funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor four-side fund services LLC that's tfnn.com then hit watch Tiger TV for the latest market information the Dow's up 112 S&Ps up 4 so Ruby when we take a look at platinum out here what and price here as we speak right now is above all profiles daily and weekly that's really what I'm most concerned with and trying to help answer your question and if we take a look at the daily chart you'll see two different bearish reversal signals you'll see the bearish sash out here and the bearish and golfing prices back above Stevie's green line which suggests to me that it wants to continue to move higher and so I'm just using that trading session of April 8th as a potential target area at least you know sellers are lined up in this area here that's what I would be looking for I don't see a reason to close out that long trade when I take a look at the daily or I take a look for example let me show you the weekly out here if I pull the weekly across the weekly is going to show that two weeks ago price closed over that solid green line that was the Tommy DeMark set up trend line and when you close above a trend line like that it says that there's a real change in trend that is underway last week was a test of that level as was this week we can see prices trading above it and so watch that area if you're really itching to take a half of your position of do it at that stage but the weekly says hey I want to trade up to 9 76 as a level and that is really confirming what the monthly chart here is telling you and I we can see its TDST level is from March of 2018 and that high was 987 30 so it looks to me that's where longer term where platinum is trying to target palladium on the other hand you're looking for a target exit here when the this is a daily time frame chart when the green line turns red or vice versa but this case green line turns red that tells us that the price oscillator of this instrument which is the difference between the 19 and 39 day exponential moving average of price out there what it tells us when we see that in essence kind of crossover it tells us about the stalling of price most likely but more importantly it tells us that we should see both price and that line catch up to each other which it did yesterday now the bearish test here Ruby would have been yesterday bouncing up to that level and rejecting it and moving lower and instead it closed above it and today's been a test and forget the solid red lines don't pay attention to those those are no longer active out here with regard to this daily time frame chart those were support levels that were broken but this says to me this was the bullish test and this says that you're going to continue higher you're great with retracement you can take retracement from that time to mark setup nine count down to the low but right now what you really got was the bullish test you were looking for inside of palladium so other than just a normal retracement that you could use out there I don't have any other that anything else that I could pass on to you so hope that helps let's go to Ron in Denver Ron thanks for calling thanks for holding how are you today thank you Steve appreciate it Steve you haven't taken this position yet by our calls today I believe in this M.I.M.E it's called Minicast it's a company cybersecurity firm they sell a cloud based email security services they brought up their earnings in February it had a big jump and this week it fell back down and first they bring out their earnings in May and I thought I do you see any danger it pulled back this week would this be a good entry point I would think in looking at this chart out here right now and what you and I are going to do is we're really just going to try to focus in on the daily time frame out here and so this thing made a 52 week high it did it with gusto huge volume on the trading day of February 12th so it was wide price but it was 3.4 million shares and it's clearly been a resistance zone and so price is kind of inside between that high and the gap so I get you know what you're trying to do here because price today has closed back inside the daily profile bullish structure because the center is closer to the bottom than the top I would be now I don't know if this is going to matter to you or not if you're asking me where price might pull back to I would say 45.07 to 46.53 out there will it bust through that I don't know but that would be the more ideal type entry point if you can if you can wait on that as price would be pulling back it would be also then testing the April 8th swing point and that has 554,000 shares and if you're to see this pulling back with light volume into that area then there would be more of a trigger to say okay it's worth going ahead and taking that position if you close below that low which is 43.61 we're not sure if price is going to stop at the 42.99 level or continue to move further out here so you know right now yesterday I would have given you a different piece of advice but we're going to go with today's information because price has pulled back underneath a level of of support that now maybe resistance 48.71 and perhaps another you know day or so worth of pulling back okay I'll wait and look at her next week and maybe get in there and then I sure appreciate it yeah just kind of watch the volume if in fact that's what it does now the other side of that equation would be let's say Monday this starts trading back about 48.71 you know then at least it's cleared your resistance level on the daily time frame and just recognize the last piece of resistance is the top of the weekly profile at 51.66 and in essence that level was hit with that all-time high so you know that's going to be your kind of your risk reward targets at this stage okay great thank you sir I appreciate that my pleasure thanks for calling in we've got a question about Freeport Mackmaran inside the Tigersden this is coming from Peak D who I prefer that peak at you know you change that alias to Peak G but that's okay I'm just just Josh and so Freeport Mackmaran and the question is where do we see it headed to and that you're long so just simply starting from the profile standpoint above the daily above the weekly bullish running into resistance at the monthly so it hit 1045 the actual high this month is what is 1045 what the heck is that coming from 1472 the actual high is 1468 out here so you're long okay you know where your next resistance level is it's 1472 that's the top of the monthly profile and above that unless something else pops up on the screen here 1784 becomes your next price target that would be the quarterly time frame okay so we've got profile information out of the way let's look at the other Stevie tools out here the other TV the other Stevie tools say okay you got to wave number six yesterday today price pulls back test Stevie's support resistance line its support 1385 fcx days above that wants to continue to move higher nothing here that shows us differently the weekly time frame chart which we said was above resistance it's also above the TDST the change in trend line out here from October 12 2018 this says that it wants to move higher we've given you really the range out here the weekly time frame would say its price target to the upside becomes 1814 on the monthly time frame out here the beauty about this is this made a bottom what could be a significant bottom with that TD set up nine count and it did that the month of here's the month of December in 2018 and in order to clear its next little resistance level I've got marked at 1490 and above that continues moving higher towards that $20 level I hope that helps you out with regard to Freeport Mack Moran best of luck with that trade for investment we'll be right back since 1984 Basel Chapman has been using the Chapman wave methodology to advise traders of his expert market opinion well originally hand drawing charts from the late 1970s into the 1980s Basel noticed that prices under most circumstances virtually always had a certain number of legs to the upside before declining sharply later Basel found that computer software which included the standard market technical indicators enhanced the degree of accuracy in calling price turns as well as market trend calls thus was born the Chapman wave sequence using the Chapman wave methodology along with other indicators Basel Chapman advises his subscribers of his expert market opinion each market day with his opening call newsletter right now you can get a two week free trial to the opening call Basel's daily trading newsletter by visiting the front page of TFNN.com cancel at any time during that trial and pay absolutely nothing get your two week free trial to Basel's newsletter the opening call today by visiting TFNN.com It's amazing to think that Tom O'Brien started his weekly gold report 17 years ago with the first issue published April 7th 2002 when gold was trading at under an ounce gold peaked at more than $1900 in 2011 and after spending many years consolidating at lower prices gold may be poised for its next big run Tom O'Brien publishes his weekly gold report every Monday morning for subscribers consisting of coverage of the XAU HUI GDX the dollar bonds South African as well as 25 different mining equities with specific 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powered by highly concentrated folic and humic acids nature's preferred delivery system they've been called miracle molecules because like sunlight air and water life cannot exist without them that's right page they ensure we receive all the nutrition we need to be healthy and thrive we take it every morning primal edge formulated and approved by Niko and page of living a primal lifestyle buy it today for just eighty nine dollars click on the primal edge banner on the front page of TFNN.com this is David White stay tuned because coming up next is the power trading hour right here on TFNN. As you know and everyone you know be safe have a great holiday to try to wrap up the markets here in the next couple of minutes let's watch the as far as today's action here the ESMini is at a resistance level this is the twenty nine oh nine seventy five level really resistance for a couple different reasons out here if you're wondering what the market was doing this morning maybe as it moved higher why did it stop where it did just you in this a thirty minute chart here for the ESMini and then why did it pull back and stop where it did pretty easy because it's the same set of tools that you and I and in each of our guests today by phone or by email or by or by a instant message in our Tigers den this same set of tools that we use no matter we're agnostic to the instrument we're agnostic to the time frame we just go ahead and apply those tools out here in it in it and it paints the path it lights it up for us take a look at the TD set up nine count and you get a topping if you're going to get a topping pattern it's going to be on bars eight nine or ten it was bar number eight out here now that combined with that was at nine thirty as prices moving up there what else was price doing it was running right into a perigee perigee is what perigee is the point in time during the current lunar phase where the moon is closest to earth for reasons unbeknownst to me even though I do have a kind of a reason why I believe it exists but we're not going to go there it acts as either support or resistance that's why you're going to watch it right now now price pulled back to support where was support well it was that TD ST support line that red solid line on my screen that began forming at six o'clock this morning price pulled back there tested it rejected it now if we clear the high of the day that's going to set up an A to B equal CD to the upside I'm not saying that's what's going to unfold right now because I don't know because prices at resistance it's clear as bell if price clears that resistance level you're looking at twenty nine seventeen or even all the way back to the high of yesterday when there was a big sell off right at the open back in that twenty nine twenty three level out there so that's what you want to watch for other than that thanks much for being here stay tuned my favorite polar bear I believe he's your favorite polar bear I believe he gets the polar bear of the year award David White he's up next after that I'm not sure who's filming for Tom O'Brien but it'll be somebody great that's for sure and I'll be back with you on Monday take care and have a great weekend