 Sign up today. The following is a presentation of TFNN. The Trader's Edge with Steve Rhodes at 1-877-927-6648 or internationally at 727-873-7618. The Trader's Edge. Now, Steve Rhodes. Good afternoon, folks. Welcome to the April 1st wonderful Wednesday edition of today's Trader's Edge. I'm your host, Steve Perseverance Rhodes, who absolutely knows that each of us should always be pioneers of our future versus prisoners of our past. Hope everyone out there is having a great day. Hey, let's make sure we have an extraordinary one. And the easiest way to do that is to always remember that life is happening for us, not to us. That's right. When you and I make that one little two-by-four shift, it means we can find the gift in every set of circumstance that life is going to toss at us. Not today, you and I. We're going to go check out the circumstance of these markets. We're going to go figure out what the bulls and the bears, what those buyers and sellers are communicating to you when I just passed one o'clock in the afternoon. I want you to know that I'm absolutely grateful for your presence here, but much more important than that during this next 60 minutes I'm here to serve you. So feel free. You can pick up that phone. Dial on in at 877-927-664. If you can't dial in, we've got you covered there, too. You can always send me an email. Steve at TFNN.com, inside the subject heading. If you'd be kind enough to put radio show question in inside our Tigers Den, well, any ping will do. So let's go ahead and get this show started on wonderful Wednesday. Of course, this is Tiger Financial News Network. I'm Steve Rhodes. Welcome to Lush Show right now. We've got all the indices in the green. Dow down 850 points, S&P 108, NASDAQ 10270, Russell 76. Russell is down 6%, nearly 7% out there. That's the big loser to the downside. Trannies are off 5%. That's 400 points to the downside. Well, take a look at the indices so you can see exactly... Did I say green? I meant red. Sorry. If I said green and I meant red, maybe I was just wishful thinking out there. Now, the things that are green, if you wanted to... So what's going on as Stevie looks at the screens out here? What I see is the liquidation event is back. It has begun again. Now, why would Stevie say that? Well, I'd say that because, look, there's no move to gold. There's no move to silver. There's no move to the U.S. indices. There's no move to the international indices out here. The only real move out here of significance is to the U.S. dollar and to Treasury bonds. Yeah, the U.S. dollar and Treasury bonds really won in the same out there. And so you've got the liquidation event that is continuing. Now, the question is going to be, will that liquidation event find support? And so that becomes... Then the question is, well, where are the key levels of support? So let me switch to a set of charts out here. Let me just move to a different workspace. Let's just take this one thing at a time, one point at a time out here. Let's start with the S&P 500. So what do we know about the S&P 500? Well, one formed a nice bottom, rose meant a indicator bottom. Once price got above Stevie's red line, the oscillator and change line out there, that suggested, okay, that at least the trend had changed. Now, the line is red, and that's really important. I have changed from green to red out here. If you go up towards the highs, you'll see it's green out there. And so where price is likely headed back to, maybe find some other support. We can look at intraday charts, things like that. But right now, on a daily basis, the level to be watching is in that 2431ish area. Look, as price continues to push lower, that red line value will move lower as well. But it's in that 2431 level. If we see price trading below that, then what that means is that we have a falling price oscillator below zero. And in essence, generally speaking, there's nothing more bearish than a falling price oscillator below zero. So we know we have support where we found the most recent bottom. If price trades below there, maybe it's some form of retracement from bottom to top out there, always a possibility. But as long as price, it's not there yet. If price closes below that level, and I'm not referring to whether it's today or tomorrow, just simply if it closes below that level, you should anticipate lower price. And you should anticipate we're likely headed back to the lows or even lower out there. 2431ish area is going to be really key in watching the S&P 500. Daily timeframe for the Dow. Same set of tools, formed a nice bottom. Rogement to indicator bottom. Its price target may be its red line level and around the 2497, 2498ish range as we speak right now. So that's a level that you will want to keep an eye on. If we go take a look at the NDX100, the level at the NDX100 may be targeting Stevie's red line. 7421 give or take again in each of these. Any close below that red line, that could spell some trouble. Trouble meaning that we're headed much lower back to those lows. Now the Russell 2000, which has been the weak link today, down 6%, 7%. If we take a look at it, it still has the same kind of bottom. Really two bottom patterns out here. TD9 count bottom. Rogement to indicator bottom. And the Stevie's red line is in the 1055 level. So still nothing broken, so to speak out here. But if the Russell were to close below that, again, the same routine back to the lows or lower out there. So as long as price remains above Stevie's red line, it still has a chance to find some support. And in a springboard mechanism, maybe it's need to be equal CD to the upside. But even if we see that folks, I believe based on the signals that I'm seeing out here, we're going to see lower lows in the weeks ahead. Now that might not be next week out here. It could be this weekend next week. We'll just simply have to watch those red line values. Those folks out there that may have told you or shared with you that there's a V bottom, they couldn't be more wrong. And I say that with absolute conviction. Not like a little conviction. Not like slight conviction. Not like just maybe or what have you dead effing wrong. Ain't going to happen. Now, if there is some kind of huge rally today and then tomorrow and when I mean huge, something like we haven't seen in quite a while, well, then that's a different element. But I seriously doubt that that's what we are going to see. If we take a look at the transports, they're down big. They also have a bottom. They got that Chapman wave number seven, that seventh inning stretch. Road's meant to Mindicator bottom, a TD nine count. So really solid out there and still has the potential for maybe to form an A to B equal CD. To the upside. But the key is where price may be targeting right now is a 7138 level, 7138. It can stop before that. We'd have to again, we've got to look at the intraday signals and so forth. But right now just giving you sort of the, I won't even call it the big picture. I will give you the big picture. I want to go, I don't want to sound like I'm a Debbie Downer. We've got to come up with Stevie Downer. I just can't figure out what that would be. And this is because I'm not just really just calling it like it is. Just how we see it. All I'm doing is narrating the charts for you. And I don't know why the heck has happened here. Why am I lose? I don't want to leave this thing right in the middle. And we'll just get that the socks. I can't figure out what that level is. What did I do? Oh, that was a problem. Okay. Maybe try to bring the socks over here again and do it. The semiconductor index in nice bottoming patterns. Maybe targeting Stevie's red line around the 1421 area. So that would be a level to be watching again. All those red line levels of receipt price close and below them. It spells curtains. Now there's not any chart that I can pull out here. Doesn't matter what's the Wilshire 5000. We should look at that or the New York Stock Exchange. Again, still all above those areas. You can see the daily bottom patterns that are out there. 24294 and the Wilshire 5000 to become its target. So we come back from this breakout here. I do have one question that has come in from John and Sarah Soda. He wants to take a look at silver. We'll do that. I think we want to look at the international markets, the U.S. markets, because I won't be Stevie Downer. Because long-term money will flow into the U.S. Absolutely. U.S. markets have held up the best. We'll be right back. We'll be right back. 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Sign up today. 727-6648 internationally at 727-873-7618. John and Sarah Soda want to take a look at Silver out here and his question is, is this going to go higher? So let's take a look at the two right-hand panels of my screen out here, John. The very right-hand panel is the weekly timeframe and what you'll notice on the weekly timeframe where you should notice that there's a new profile that formed and that profile formed above price. So it's telling you about a big overhang supply line at the price point of 1532. So if it does go higher, what I want you to know is that's a real significant level of resistance out here. And when price, when a new profile forms and it's above price, it's a bearish message out here. So the longer term picture, the weekly timeframe has a bearish message associated with it. The daily timeframe has a different message right now. Price is trading above the top of its profile. You'll only see two lines out there. That's because the center of the box and the bottom of the box are the same at 1218. As long as price continues to trade above 1382, then the answer is yes, price may continue higher, can't continue higher, should continue higher, but higher to where 1532 out there. So you'll have to take a look at that from a risk-reward standpoint. If we look at my other daily timeframe chart here for silver, what we'll also notice, now you were asking about the SLV, but John, I really needed to look at the silver contract for you in order for you to be able to have the proper interpretation out here. We can take a look at my daily timeframe and also see that silver is trading above my red line level of 1365 out there. So that would be on a pullback. That would be your ultimate level of support. The line is red and says if price were to close below that, then you should see silver go back and test the bottom of that profile in the 1218 area. So I hope that that helps you out. Michael writes in and is asking the question, you know, what signal do we need to see to go short out here? And Michael, I would say that the best signal to go short, and I don't know what indices it is you're looking at. So I'm just thinking you're thinking generally speaking out here. And I'm assuming that you're not talking about a short-term type of AS signal, but something more on the daily swingish type of value out here. So let's just go back and pull open the, let's pull open the NDX100, right? Since that's a strong dog out here, or potentially strong dog out here, let's go take a look at it. Why didn't it change over? There we go. So if we're just using our daily timeframe charts to make that call here inside the NDX100, let's pull that out. Michael, I would need to see a close below Stevie's red line. That is support. The reason it is support is we have valid bottoms out here. I mean, when I say we've got valid bottoming patterns and signals out here, roads meant to mitigate our signals. So those are the ones that really make the best. That's the ultimate topping and bottoming signal out here. It's the one pattern that you absolutely, if somebody came to me and said, hey, I know you've got this plethora of information out here. If there was just one thing, if we were riding on the range, so to speak, and Curly was out there and I was playing the part of Curly, and just trying to tell Billy Crystal, just the one thing or the one pattern out there, it'd be the roads meant to mitigate our pattern. Not because I didn't name it after myself, but then I did. I had to come up with something out here. It's the absolute single best pattern that works in all timeframes, all instruments out there. It helps you to identify potential tops and potential bottoms out there. It would absolutely be that. So I teach that to folks. So go subscribe to Master Improvably. Go watch the archive video. Back to Michael's question here. Back to Michael's question. Actually, in answering Michael's question, I'm going to switch over to something else. I'm going to pull this up on the screen just so you can see, because I've automated all these tools. There are many of them, not all of them. I'd like to automate them all, but not the easiest thing to do. If I pull this over here just to give you a feel, this, Michael, is the top portion of the equity futures. After that, you've got the cash indices. You've got the index ETFs. And you've got the sectors in the S&P 500. Then you've got the Dow 30 stocks. And we take a look at the daily signals. Look at all the bottom confirmed signals that are out here. Look at all them. Now, you can see here, if you're just taking a snapshot of this, you'll have the support levels. Those are in the column here labeled Daily OUL. So you really need to see, since we have those confirmed bottoming signals out here, what you and I don't know is whether this is just a retracement back to support. The reason that I developed the Stevie's Green Line, Stevie's Red Line, the Oscillator and Change Line is because I needed to answer the question, is this just a retracement back to support or is this something more dire? And honestly, without a topping pattern that we have in place right now in a daily timeframe, and we go look at where some resistance is, without a daily price right now, Michael, is just pulling back to support. Now, unless you know, because I don't know, or somebody else knows out there, whether in the S or the NDX100, whether 74.22 is going to hold or not, you could take the early signal now. I can't suggest that. I can't suggest because right now, if you took a short trade in the NDX100 at 75.48, you'd need to be ready to cover that around that 74.22 area. And that's a horrible reward to risk. I don't even have to do the math in my mind. I could just look at it and say, that's not a good reward to risk scenario for you. I'd rather it get below that and say, okay, we're headed back to the lows or below that level. And if price were to close back above Stevie's red line, you'd go ahead and exit that trade out there. So, you know, other than short-term timeframe signals, that's what I would see that you would need to, really to get you short because of all of the bottoming patterns out there. And we just don't know. And part of the just don't know is, look, I recognize, you recognize the Fed, until they really are out here buying equities. They're trying to buy equities through a serendipitous method, if you will. But still, you got to be careful truly about fighting the Fed. Much easier to fight the Fed when you know that support has failed. Other, now look, that's, and the reason why I believe at this stage here, at least at 1.25 in the afternoon, that prices are likely headed back to the oscillator and change lines. We should anticipate that, is because right now we have all of the futures contracts trading below the top of their daily profiles. That's what this screen is showing us. The top of the boxes, the center of the boxes, the bottom of the boxes. Now, here is the real, here would be the real savior to the upside. When you look at these three charts, four charts out here, which one is the strongest? Which one is the strongest right now with regard to dealing with sellers? Exactly. It's the Dow. That's the real important thing out here. And we have to watch the Dow, Dow Equity Futures contract, like a hawk, to really get our signals out here. Yeah, I know the Nasdaq is the strongest. So the what? So the blank what? Yeah, okay, it's the strongest. Is it going to lift everything? Well, no, it's not. But the Dow, the Dow, the trophy horse, the trophy horse of everybody worldwide out here right now, the Dow, the Dow Equity Futures contract closes today above 21.047. Man, it's still bullish because it will have held a key level of support used to be resistance. Now it is support 21.047. You can write that number down on a pad of paper. That is not changing. Watch the Dow Equity Futures contract. If it closes above that, hmm, very interesting as Artie Johnson used to say. It's more than interesting. It's important. We'll be right back. 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, because 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 TFNN.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 too. Sign up today. Dave advises his subscribers on a daily basis of the current market conditions and what possible trade setups are on the horizon. 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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 going to 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. Welcome back, folks. Let's go out to one of the seven wonders of the world. Let's go talk to Mike in Niagara Falls. Mike, thanks for calling. Thanks for holding. How are you doing? Hey, hi. Thanks for taking my call. Sure, my pleasure. Are you a longtime resident of the Niagara Falls area? No, I'm staying in an Airbnb. Ah, okay, okay. I sold my home in Toronto. You see, so I can't... Airbnb's in Toronto are very expensive. So I come down to one of the seven wonders of the world. You see, to see where the legs are. Yeah, absolutely. One thing, so growing up in Detroit, we went to Niagara Falls often and so forth. But I have been through... I used to do business with the group that owned Ripley's, believe it or not, and the Wax Museum. I can't remember the name now. They were headquartered up there in Niagara Falls. So I used to travel up there fairly often, even when I was living in Florida. And I've been up there a couple of times in the wintertime when the falls have been actually frozen. Right. There's a light show at night. There's a light show at night during the winter when they have the falls frozen. Ah, wow, wow. Didn't I stick around for that? I go a lot... I have an active mailbox on the American side. So I buy stuff on eBay, and I drive down to the border and then I pay a dollar across the Rainbow Bridge. And then I walk on the American side, which resembles Detroit. And I just go and pick up my stuff and then come back. And that's it. Great, that's great. So let's take a look at the symbol you wanted to talk about because I know we've got another caller on the line, DKL, which is a Dellic Logistics partner. So tell me what you're doing and how it can help you out here. Well, I'm currently long. I'm looking to double down. And I'm just wondering what's your gut opinion on this? It's oil. It's multiple logistics. So it's pipeline and tankers and stuff like that. It's not actually exploration or production. Okay. So here's what I would share with you. Here's what the charts are communicating to you. Form a nice bottom. Back there, it looks like on the 18th, that bottom was a TD9 count bottom, rose meant to Mindicator bottom because the following day had that nice bullish engulfing. Prices above my red line level of 586, if price were below that, it's headed lower out here. The potential on the daily side for this to move higher and maybe the reason why you'd want to double down to be 2204. That's its resistance level. That would be one of its targets. Now, what I want to also share with you is the current profile levels because those are really worth watching. And if you were to see a close below 825 as an example, that is the bottom of its daily profile. And the center line is also at 825. So the center of a box, center of a profile, Mike, we have both buyers and sellers. The bottom of the box, we have buyers. So in this case here, where we've got buyers lined up right at the bottom of the box along with the center and the bottom right at the same level. If you see a close below 825, that could spell trouble for you. Now, I want to take the 825 level and adjust it down just slightly because this week, a brand new weekly profile formed and on the brand new weekly profile, the bottom and the center are also the same. This is actually, Mike, the very first time I've ever seen this where I pulled up a chart and the daily center of the box and the weekly center of the box are both sitting down at that bottom. That level is 811. So I would adjust that figure from 825 down to 811. A close below 825, you should expect 811 to get tagged. But I would have to say if price close below 811, the buyers are telling you they were not able to support that level. It could be a free fall or a retest of the lows. A retest of the lows for sure. I would say it would be the likely outcome. But boy, what it's really telling you, this is the most important message, is that a close below 811 is that the buyers were not able to, they, you know, it would be like being your first and goal on the one yard line. Yeah. And you can't get it in after four downs. You know, pretty defeated. Yeah, exactly. Pretty defeating out there. That's why I have a new team, the Miami Dolphins. Oh my God, really? The Dolphins? Well, because I live in South Florida. I just go from... I was going to meet Tom Brady. Yeah, yeah, yeah, yeah, yeah, yeah. Anyways, so... He would pick the 199th overall in the 2000 drop ticket. Obviously, great play. We've got a bunch of callers on the line, Mike, so I'm going to go to them. Thanks very much. Let's go to our next caller. Let me see. I think that's Ray in Sarasota. Ray, thanks for calling. Thanks for holding. How are you? Doing well, doing well. Excellent. Can you tell me the symbol that you want to take a look at? I've got two today. The first one is N-A-T. Yeah. Nice move off of the bottom. What are you doing with it? How can I help you there? Well, I have a very substantial position in it, and I'm seeing it going up to close to six bucks, and then maybe ultimately up to eight dollars. I'm really more of a technical than a fundamental person, but in the last two weeks, they doubled their dividend, 14 cents a quarter. The insiders bought over half a million shares in the open market. And I think there's at least a 56 cent dividend for this year on this stock. You've given us a little bit of your take on that and some of the fundamentals. You mentioned you're a technical trader, so let me give you the technical issues you're dealing with here. And that's resistance. And you've got substantial resistance at $4.56. $4.56 is definitely top of its profile. And last month, price got over it for a little bit, but it closed back below that level. So even though you've got this $6-ish target out there, you're going to need to see price close above $4.56. Now, Tom has a beautiful expression. If he can't bust them up, it'll try to bust them down. So I'm going to say be careful out here, because price has not cleared that key resistance level. Now, it's not just the monthly market resistance. You and I can bring this back to the daily time frame. If you're going to ask me what's the resistance level, you know, I don't know if you believe in coincidences, but it's $4.56. It is not a level that I wrote in here. That is the area in the daily time frame chart where Nordic American tankers broke down. And two days ago, price got over that level. And it looks like a wide-ranging bar. Maybe there was even volume behind it, but yesterday, price closed back below that. That's what I like to call a one-hit wonder out here. And today, you saw intraday, price tried to get above it. It's trading back below that. Be careful. What this is telling you right now, the daily time frame chart is telling you that Nordic American tankers, unless it can close above $4.56, two days in a row, it wants to pull back to my green line level, which right now is printing out a $3.57 that will change as price moves higher, lower, higher ways during the days out there. But more likely than not, you're going to see a pullback inside of Nordic American tankers before you see this thing make its next attempt to move higher. It's already tried it and it failed. It had. It was on the one-yard line and it failed. All I can do is just really read the charts and that's what it's telling you. That's what it's telling you at least. I got a second one for you, Steve. Go ahead. Go ahead. Take a look at that real quickly out here. See what we can see on Yamana Gold and here you are what? Long, short? I'm long. I'm long. Yeah, so you need this thing to close above 291. 291, Stevie's red line. If it doesn't do that, it wants to continue to move lower and that's looking at the daily time frame. So watch that 291 level. All right. Thanks for your help. Have a good one. Have a great day. This is Steve Rhodes with TFNN. We'll be right back. We got another caller on the line. We're going to go talk to Brent in Martinez, California. 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So watch 266. 266 is your go-no-go line out there. But what the way the price is behaving, when we took a look at the charts out here, it looks like that's where price is targeting. 266. Okay, we got that. Let's go out to Brent in Martinez, California. Brent, thanks for calling. Thanks for holding. How are you today? Oh, I'm doing fantastic, Steve, how about yourself? I'm doing very well. Thanks for asking. And I believe it's the gold contract that you want to take a look at. Yeah, I was hoping to just kind of revisit. I talked to you probably a week or so ago. There's more or less bearish on the just the fact it's gone up to that level around 1700. Yes. I did it on previous. Try it a couple times to get above that. Couldn't do it. I was looking for some kind of a pullback which has been doing and just wanted to get your thoughts on at this point where we're at and looking for levels of support and such. Yeah, sure, sure. So what I did here Brent is the charts that we're looking at right now are my synthetic version similar to but not the same as a continuous contract and what's nice about this is that and here so we've got historical data in 20 years worth of data here that really allows us to take a look at monthly good solid monthly and quarterly profile levels and as it turns out today is the first day of April beginning of a new month and guess what we have a brand new profile out here now it formed this morning prices just trading slightly above the top of that level that level top of that box is 15 79 60 now I believe the price is going to be different when I go actually take a look at the gold contract here because of the way that I'm using this so how am I going to be able to so you're at 1593 so here's what I want you to do so we know at 1593 and I'm still going to come back here so you're just going to do a little bit of multiplication on this chart it shows us at 1588 so the difference between 1588 and 1579 what is that that is what nine bucks out there so take nine bucks from where we're trading right now and if you were to see price close nine dollars lower than where we're at that's going to suggest that we should be looking at lower price for gold that's the way that I see it in just looking at these profiles do I need to walk you through that again and I know it's kind of odd because the different price and what the current contract is trading for but the purpose of me doing this was to try to see if there's some new information that's helpful to us to glean no that's clear enough I think you know just given the numbers that you presented that's something that's fairly easy math okay so about nine bucks from where we're trading now if you see a close below that that's not what you want to see out here prices below the top of its daily profile 1593 it is trading below the top of its weekly profile that's 1595 so if a brand new box and price begins trading below that just not a really great message out there for gold suggesting that we'd see a further retracement when I pulled up the current contract the June contract for gold out here what we also know is 1599 is a key level if price B continues to trade below that that's my green line area that tells us that price wants to pull back pull back to where well 1564 would be a level 1551 would be a level 1507 would be a level and finally be the 1471 so it's got to be taken kind of one level one one thing at a time but I would say right now when I look at the daily and the weekly time frame chart they don't look good with regard to price just suggesting that price wants to move lower and I think that the final might come in about nine bucks from where we're trading below where we're trading right now that's what I see when I take a look at the gold contract the only other piece that I think is worthwhile for us to look at is to say hey how's gold trading in all the major currencies out here and as we take a look at that what we're going to see is that gold is about flat ish in terms again in terms of using my synthetic version of that contract a little bit higher in terms of euros lower in yen slightly higher in terms of pound there's not a synergistic message that I see when I take a look at how gold is trading in all the major currencies out there and then lastly gold's in a range and the range is very large it's between 1493 and 1695 those were both at support the weekly horizontal trading range levels at support was 1493 resistance 1695 which we know is a real significant level out there so it's very possible it's the old Tom O'Brien if you can't bust it up it's going to try busting it down okay that's kind of getting to my what was going to be my next question are you kind of seeing this is more about a very large consolidation between those two levels he just gave or what's your thought on it yeah I do at this stage there's nothing here to suggest otherwise you know it's a definite consolidation ish type of pattern out there not that price can't get a bit lower but just on a closing base that 1493 and at 1695 is really the range out here inside of gold pretty nice big trading range I guess gigantic trading range out there and so you know pay attention to the short-term patterns out here let me see if I can pull up well I know I can pull up just on a short-term basis here with regard to gold let's just go see what we can see out here short-term start with a 30-minute time frame let me get this populated so on a 30-minute time frame we saw a nice little bottom out here and when price pulled back looks like this morning around noon it found support at 1586.50 so to the extent that you're an inter-day trader out there and then price went ahead and went back up to the recent highs out here so the range the potential range is 15 on a short-term basis 1586 to 1624 but if price closes two bars below 1586.50 you go back to the lows of looks like yesterday or the day before that's what the 30-minute time frame chart is telling us the I just deleted the 16-minute didn't mean to do that let me get to a 240-minute chart out here for you and here we've got prices trying to form a rogment indicator topping a bottoming pattern out here and so it just says watch the low of again because it was a nice little hammer candle out here watch the price level of 1576 if price closes below that the two-hour chart is saying 1493 would be the target out there well thank you very much do you guys appreciate your help and thanks for the work on US Steel as well just have a great day and I'm sure I'll talk to you soon. You bet that was Brent in Martinez, California so let's go see what let me just check real quickly here see if I've got any other requested of coming by email I don't see anything yet oh we've got Ron in Denver my apology Ron how you doing thanks for holding appreciate that and good morning Steve thank you for taking the call I wanted to ask you about this one APTV the data collection company really volatile obviously came from 99 bucks 29 but it had a gap down this morning and that signal is is that a buy signal there well let's do this we're about to go to the break the ticker symbol here folks you can look at it at home give your own opinion think about it think about what Steve you might suggest the charts are communicating to Ron and I again ticker symbol APTV and trading out at 4596 right at about the center of its daily profile we'll be right back if markets trading with extreme volatility and peaks and troughs everywhere regardless of what you're looking at in the markets this 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hour right here on tfnn we're on the line with ron in denver colorado we're looking at aptv that's the ticker symbol out here and ron your question was was today's gap to the downside of buying opportunity is that yeah so that about six o'clock this morning it gap down and uh i'm not i don't know what you call it and my chart shows a big green you know teardrop there i don't know you got you have names for me well so with regard to today's candle the green the green candles and red candles aren't don't represent whether it's bullish or bearish it doesn't represent where the open was and where the clothes is and so the green body is just telling you that the uh the current price where it's trading is above the open but yes it was a gap to the downside so a falling window or gap and that's typically a bearish signal out here um even if you did take this as a buy opportunity your resistance level is fifty four sixty seven and we clearly know that by looking at the daily time frame chart uh march six that level actually price closed just slightly above it that's the top of its daily profile this profile is bearish in structure and so right now prices trading at the center of the box forty six eighteen out here even if it is a buy opportunity you've got to know that your risk reward your risk or your reward is going to be about fifty four sixty seven the top of that daily profile that is clear resistance out here your risk has to be somewhere down around forty three forty six the bottom of the uh structure now I can make the case that it's going to make another run for its highs out here the reason I can make that case is because price is trading just slightly above my red line level forty five fifty one so this has a bullish bottom rogment I just got the TD nine count and a wave number seven pattern so valid bottom and as long as price continues to trade above forty five fifty or thereabouts uh price may go ahead and make another run for that high so it's not like I would be telling you to take to go short here as I would I would say I'd be we could say to go short if price were to close below Stevie's red line but right now it's above it it's almost more neutral does that make any sense yes it makes a lot of sense yeah okay um one thing I did this morning I think it worked out is I did a I uh we're about to go off here I'm sorry we're about to go off here hey thanks so much for calling everybody stay tuned for two more great hours of programming I look forward to seeing you tomorrow and terrific Thursday take care folks