 The following is a presentation of T F N N. The Trader's Edge with Steve Rhodes, toll free at 1-877-927-6648 or internationally at 727-873-7618. The Trader's Edge. Now, Steve Rhodes. Good morning, folks, and welcome to the February 27th edition of today's Trader's Edge show. I did say morning. I am recording this show today between 8 and 8.30. So if you're listening at the normal time at 1 p.m., I'll try to make today's show in this half hour's pertinent as I possibly can. Of course, I'm happy to field your questions. If you are listening live 877-927-6648, that's our number. You can always send me an email. Again, if you're listening at 1 o'clock, don't send me an email. I won't be able to get it. I won't be able to respond. But if you are listening this morning, Steve at tfn.com and inside our Tigers Den, any ping will do. So we're going to take a look at the global markets. We're going to take a look at support and resistance and the patterns that are set up so that I can give you some values and things to be watching throughout the day out here. So as we go ahead and kick off our session, we can see that all of the equity futures are trading in the red, down by about 1 in 4-tenths percent. You've got the Dow off 367 points. The Nasdaq is off 138. The S&P is down 40. The E-mini. Russell is down 19 points out there. Spot volatility is up 10 percent, 9.72 percent, $2.68. Over in Asia last night, we had the Hang Seng and the Shanghai both close higher. The Nikkei, not so much, down over 2 percent, 477 points. The S&P 200 in Australia, down 50. That was about three quarters of a percent to the downside. The DAX is off 344 points. The FTSE down 170. Gold's up about 12 bucks. Silver, 18 cents in late-sweep. Crude getting smacked again down $1.42 this morning. So let's begin by taking a look at the international markets out here. Let's get a big picture because the markets tend to move in similar directions more so than not. So let's begin by taking a look at, and my feed is just slightly off, I think maybe about five minutes or so, 15 minutes in the FTSE. But let's begin by taking a look at the chart of the FTSE. Now yesterday's action, pretty interesting. Let me just do this here. Here you can see the picture which shows a butterfly by pattern out here. So I'm going to get rid of that just simply to make that easier for you guys to see. And so, which includes a butterfly pattern, includes an A to B equal CD, which occurred out here. And yesterday was the confirmation of that pattern and it formed a real nice hammer. Now, the real key today coming into the close is does the FTSE reject that hammer candle? Does price close above the bottom of that hammer? Now to give you the exact number of that, I'm going to switch over to my other charts here. It's just going to be a little bit easier for me to grab that data. I think that it is. Yes, it is. So the number to be watching coming into today's, that's the DAX. I wanted the FTSE. Give me a second here. The number I want you to watch at today's close in the FTSE is going to be 687175. Right now we're at 6868. So it's not unusual for price to test the bottom of a hammer, but a close below the bottom, a close below the bottom of a hammer. The rhyme goes if you're wrong, you're wrong out here. So you've got inside the FTSE, you have a confirmed by pattern. But the key is does it hold that bullish reversal candle? Now inside the DAX, inside the DAX, we don't have any kind of bottoming signal whatsoever. Today is likely to be day six of a TD set up nine count pattern, but no A to B equal CD. No real pattern that I could draw here. No level of support other than it down at 11953. So the FTSE has a bottoming pattern. The DAX does not, has not taken out yesterday's lows. Don't know if that means anything or not. Let's take a look at the Nikkei. What did the Nikkei do? The Nikkei closed down relatively hard, but what you'll notice is yesterday was a hammer candle. So closing below that today, not so good. However, today is bar 10, or the bar following nine of a TD set up nine count. So it does have a bottoming pattern that is in place out here. So you've got one in the FTSE, you certainly have one inside of the Nikkei. We don't have anything inside of the DAX out here. Let's go take a look at Asia and get a feel for what it's doing. We're already looking at the Nikkei out there, so that's part of Asia, but let's go take a look at the Hang Seng out here. What was the Hang Seng doing last night? So the Hang Seng formed a bottom a couple of weeks ago with a TD set up nine count, then maybe about seven, eight trading sessions ago, went ahead and formed a TD nine count high. So it certainly was respecting the nines. Now, when you form these tops or bottoms, the responsibility of sellers is always to push price back to support. Inside the Hang Seng, that level of support is 26, 641, 92, to be exact. Today is going to be day number eight of a TD nine count pattern. That could identify a bottom. Today's day could have been the low. What we do know in the Hang Seng is support is held. So we have bottoming patterns inside the Hang Seng, inside the FTSE, potentially inside the Nikkei as well. Now let's go take a look at the Shanghai out here, just simply to finish it off. This way it gives us a feel for what's going on around the globe since this is all coronavirus forming or oriented or what have you. And if we take a look at the Shanghai, when this thing, remember the Shanghai was closed for a while, it opened back up, but when it bottomed out here, beautiful thing, it bottomed with that TD nine count. Now, what we can see is price was able to overcome Stevie's red slash green lines. I refer to it as that, but it's the oscillator and change line. Now, when that line turns colors out here, what it tells us is, tells us that we're going to see that level, the oscillator and change line and price catch up to each other. And it's going to be that test that tells us whether its intent is bullish or bearish. Well, if we take a look at what's transpired over the last three days, it's been a test and rejection of that level, that level being Stevie's oscillator and change line 3123. What this is suggesting to you and I is what the Shanghai wants to do is move up to 3256 out there. So that's what's going on across the globe. So now let's go ahead and bring that back to the US out here. And really the charts that you're seeing this morning are charts and everything that I put together for subscribers this morning in doing this show here. It's just helpful to understand what's going on around the world. So you're getting a feel for what's included inside the newsletter to begin your day. For those of you that have an interest in subscribing out here. Now, let's come take a look at the US markets. Let's begin by taking a look at the Dow weekly chart out here. So in the case of the Dow weekly, so we've already identified that there are bottoming patterns in place inside of international markets. So where are we at inside the US? Well, although it doesn't show, what does show here? We've got a Rosamund indicator top on a weekly basis for the Dow equity futures contract. And right now what it's testing is 26588. That is its TD nine count breakout level. Now we're trading just lightly below that, but what you want to watch certainly today is going to be that 26588. If there's a rejection of that level, well then what the sellers were supposed to do, they have done, which is push price down to support. On the other hand, if there's a close, really it's tomorrow's close because it's a weekly chart, below 26588, you're looking at a pullback to the 24912 area. That's what we can see when we take a look at the Dow equity futures contract. Now if we go take a look at the NQ, and let's take a look at the NQ, because we're about to go to a break, and we come back from the break, we're going to take a look at each of the timeframes for the NQ. Now in the case of the NQ, it may be targeting its most recent weekly breakout level. That is 8530, stronger than the Dow, clearly because it hasn't made its way back to that key level of support. So we come back from this break, let's spend some time taking a look at multiple timeframes for the NQ for the market so that I can provide you with levels that you should be watching during the day, even if it's 1.14 in the afternoon. Steve Roach with TFNN, if you're right back. 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TFNN has launched our brand new website. You can still visit us at the same TFNN.com URL but when you do you'll see a new and improved homepage with a much simpler navigation whether you're watching Tiger TV live in high definition or just accessing your newsletter subscriptions. 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. Good morning folks at 8.18 in the morning if you're listening at the normal time here this is going to be the last segment but let's focus in on the NQ. So here's the 30 minute time frame. We can see yesterday that it formed a nice rogement of indicator bottom. Did that at about four o'clock in the morning at a very nice counter trend rally out there and we can see that price now is pushed just slightly lower. That's below the candle from back here at about midnight and so there's a potential 30 minute time frame chart for another rogement of indicator bottom form. How will you know if it forms? Well you'll see some type of bullish reversal candle. So also perhaps in the process of forming a TD9 count you're in bar number seven out there nine count would form it's now 8.19 so by a 30 B bar seven so by 9.30 by the cash open between 9.30 and 10 out there. So that's what's going on under 30 minute time frame. So that's what's coming up here with regard to the NQ and the focus is going to be on the NQ and the reason is because if the markets are going to find a bottom and I'm not saying that they are we're just taking a look at the charts and the chart patterns. We looked at the international market to get a flavor for what's going on around the globe out here and so maybe the U.S. doesn't have as much heavy lifting to do as it as one would think if in fact the markets are going to see some type of counter trend rally. So here's a 60 minute time frame. Let's take a look at the two hour chart here and the two hour chart we're going to see is we're second year. So we go we're going to we're going to see roads momentum indicator bottom signals out here. Those lows are being tested those bullish candles but this is a two hour time frame chart out here and so the candle session that's in process right now may not look like that when the session ends but you've got again the market being very stretched out here and so we're going to look at the you've got again the market being very stretched to the downside and on each of these three time frames that we have taken a look at we're going to step things up and go to the 240 minute time frame so on the 240 minute time frame we can see roads momentum indicator signals that have formed and that continue to try to form out here as price pushes lower. So we know that the stretches on let's step this up to the five hour time frame chart and this is really worth its weight and goal today to be able to assist you in understanding has the market bottom is there going to be some type of counter trend rally or not out here so as we take a look at the five hour time frame chart you're going to see that it has both a wave number seven pattern so it's in wave number seven that is letter G on my screen. Prices will be lower doing with less relative energy we already got the bottoming signal out here this little piercing candle that took place that was at four o'clock at the morning this five hour chart candle that we're currently in closes at nine am so price closes above the bottom of that piercing candle out here I'm going to give you the value then that bottom signal still in play at eighty nine sixty seven twenty five but here is the real key and the real key is and prices so we've got what we have we have we have really three topping a bottoming pattern signals out here TD nine count wave number seven and erodes momentum indicator so if there's going to be a bottom we're going to see it here and if these patterns don't work well then markets are going to continue to move lower now if this does work and you don't have to get in this earlier what have you the confirmation as you can see on this chart or should be able to see on this chart would be a close above Stevie's red line now that red line number is going to change as prices moving up or down right now it's priced at eighty eight oh three so I don't know what you use at two o'clock one o'clock one one twenty two in the afternoon my guess I don't use something like eighty eight ten something along those lines but if we do see price closing above the oscillator and change line out here Stevie's red line that would be a signal that a counter trend rally has begun and that we should see the end queue move up to either ninety sixty nine or ninety one ninety one out there and if these don't form bottoms out here we sort of covered it well let's go take a look at the daily time frame chart because we were looking at the weekly chart earlier if we take a look at the daily time frame chart with regard to potential support levels what we're going to see is that the end queue is trading right into one right now and that's at eighty six seventy eight we're trading at eighty six eighty these red horizontal lines out here these are breakout support levels and if one fails and price will go down to the next one so you've got all of these interday signals that we took a look at in the end queue you've got the end queue pulling back to a key level of support breakout support eighty six seventy eight if that fails the daily says eighty six oh eight seventy five would be the next number and earlier in that first segment we gave you the level to be watching on a weekly time frame but if we were to sum this up at a twenty three in the morning what the U.S. equity markets are trying to do at least the end queue even though it's down a hundred and sixty three points right now it's attempting to it's trying to form a bottom so we don't know if it's just simply trying to flush out flush out and get some more folks short out here or not but that's what the signals there are showing us let's take a look at a couple of other instruments out here so in essence we've covered for you I've tried to cover for you the equity markets what to really look for let's go take a look at some other markets let's go take a look at Goldilocks and I can find my cursor out here are you we just tried to do this come on so now we'll pull over the chart for Gold and in the case of Gold J I think you would ask me a question are there any new are there any new profiles the answer is no I don't have any new profiles yet inside the equity futures contracts here inside of Gold here's what we have going on we've got confirmed topping patterns a TD set up nine count as well as a rogement demindicator all that bears sellers were able to do is really just push price down to a key level of support while the key level of support is green line out here so the level to be watching a sixteen thirty nine now that number is going to change up and down you know by pennies or what have your dollars something like that but what we do have similar to what we looked at I believe was in the Shanghai out here is we have price testing a key level of support and if price is unable to close below that area then price should try to bust it to the upside now the bust it to the upside here's where there is a new profile is sixteen seventy nine so at this stage of the game it will look like gold might want to target that sixteen seventy nine area we take a look at treasury bonds out here treasury bonds having another nice day not up a full point just yet but just give it a little bit of time out here but today is going to be bar number eight of a TD set up nine count pattern out here that says if treasury bonds are going to top from a pattern standpoint it could be the high of today it could be the high of tomorrow could be Monday remember on a TD nine count it's either bar eight nine or the bar following nine where you would see that high so at this stage here it looks like T bonds want to continue moving higher what else can we take a look at has anything changed inside the spot volatility index you and I have been taking a look at this extreme backwardation that is in place and it is still in place it's just simply even more exaggerated down spot volatility trading out at thirty one oh three out here it is well above every single futures contract as Peter wrote in earlier when there is a bottom or counter trend rally bottom it should be one huge one and it could be a bottom we'll just simply have to continue to watch for that but if you take a look at the bottom panel out here again is just simply the ratio between the spot volatility in this case here the three month counterpart when they get above one what you're looking for is for that to get back below one to confirm for you that a bottom is in so it's not to be used as a necessarily a timing tool from a inter-day standpoint but it is most certainly something to watch and as you take a look at well we're just about to head off the air so folks thanks so much for being with me today I'll be back to normal hours tomorrow and pay attention to those 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