 The following is a presentation of TFNN 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 afternoon folks, welcome to the March 17th, the St. Patrick's Day edition of today's Trader's Edge show I'm your host, Steve, Perseverance Rhodes, who absolutely knows that each of us should always be pioneers of our future Versus prisoners of our past, hope everyone out there is having a great day Let's make sure we have an extraordinary one of the easiest way to do that Well, it's 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, well, it means we can find the gift in every set of circumstances That life is going to toss at us Now today you and I, we're going to go check on the circumstance of these markets We'll go figure out what those bulls and bears, what those buyers and sellers are communicating to you and I Just passed one o'clock in the afternoon I want you to know I'm absolutely grateful for your presence here More important than that though, that's this, during this next 60 minutes I'm here to serve you So feel free to pick up that phone, would love to hear from you 877-927-6648 If you can't call in, you can always send me an email Send it to Steve at TFNN.com Please send it early And inside that subject heading, if you'd be kind enough to a radio show question Of course in our Tigers then, well, any And every 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 LUS Show And I've got most of the seeds traded to the upside The only one that's not is a Semi-Zero of 10 points Three tenths of a percent The Nasdaq's up, Nasdaq 100 Is up two tenths or 25 points The S&P is up a half a percent, 21 Half a percent for the Dow, which is 163 points You've got the gold trading up 36 bucks Nearly 2% 1944 is the print, silver printing at 25, 63 That's after 3, and almost a 3.75% move to the upside Lights recruit 7.75%, that's $7.34 Straight out of 102.31 And we're going to go try to figure out what all this stuff means Now lead the charge, dollar wise today, the upside Mercado, Lear Bay had a good day yesterday A good day today, up 39 bucks, 11.15 is the print Amazon's up 42 Shopify's up 22, that's 3.5%, Tesla's up 18, 2% To the downside, hey, it's St. Patrick's Day I think we don't look at anything in red Today's just got to be a green day, right? And that'll be Steve's contribution to the green environment But, all right, well, but still You want to know what's trading to the downside That's booking holdings, 48 bucks, little over 2% Solar edge technology is 22 bucks, nearly 7% Synaptics is now 9.5% or 4% So there's certainly things to look at But I think what we're going to start with Well, you know, I'm going to kind of give you a This is kind of a couple of sets of interesting charts I think it just shows us how difficult this market is going to be Perhaps to navigate Now, I'm just going to start with this chart here Those of you that are longtime listeners You've seen me pull something like this out of the hat In the past, now, this is a monthly timeframe chart That takes us back to the 2009 bottom You'll see a number of blue arrows And you'll see one red arrow What this chart here is doing And I'm really focused here on the red So I'm really focused on the downside First to the upside But what this is showing us is a number of consecutive sessions Where a close is below the prior close Now it's not showing us the one knee jerk reactions But we can call these really the So here's what we can take a look at Coming off of the low in 2009 We've had, I believe, it's eight instances Where we have seen two bar monthly corrections Such as the one through February The one where we're at right now, that very right arrow So what's interesting about this is that From a pattern standpoint out here There's nothing from this Now we did have one during the 2011 time period There was a five bar move to the downside out there Never actually took out the prior swing point And the prior swing point here Gets us all the way back into March of 2020 But right now, so this is really kind of interesting to me Is that this two bar level has held up Now the question is Because we certainly appear to have started Perhaps a bear market If I just change this chart to the daily timeframe out here Let this thing populate What you'll see is that since the highs That formed out here January 4th We had one rally that lasted four bars That's the one that took us into February 2nd Today is going to become bar number four So I say, hmm, something to think about You can see we also had one rally out here This was a three day rally that took us in the highs Because in the highs of February 9th So really we should begin to learn something Let's say tomorrow, tomorrow is Friday Monday or what have you But interestingly, so if we're really This should be, today should be the last day Of the rally out here If it follows along this simple guideline So that's the first thing that I just simply throw out to you Now we're going to go ahead and I'm going to review All of the equity future contracts Of course anything that you want me to take a look at we will And they are going to provide us with different messages But I wanted to give that first, that overview Now the only other chart or another chart I should say That says, hey just be cautious out here Is the advanced decline oscillator for the New York Stock Exchange And that's the panel that we're taking a look at here What you'll notice, the first thing that I'm going to have you notice Is that the current print is at 171.80 Now it doesn't really matter where it's at at 112 in the afternoon It matters where it closes at 4pm But let's assume that this was a 4pm close So first of all when you get to the plus 150 level You start to get into an oversold condition It was really kind of interesting yesterday as I listened to a lot of the commentary that was out there Everybody talking about how oversold the market is Yet I'm coming to you at 112 in the afternoon I'm showing you a chart that clearly shows us When we get up to these levels This is where we should be expecting or anticipating the top So we put that together with that four day move out there It says something to think about Now the other aspect if we close above 150 So just to kind of put this in context out there I sort of get tired of that word out there You know context But let me stay focused here If you go back and you take a look at other instances When the advanced decline oscillator gets above the plus 150 level What we typically see not necessarily the next day Or not necessarily it doesn't have to be the next week But what we typically see is a signal of further highs to come So watch the advanced client oscillator as we come into the close We'll certainly take a look at it tomorrow We'll be doing the show at the normal time at one o'clock So we'll certainly be able to look at it there But here we put this together which says Hey be cautious because we're starting to get to Now not that it can't move higher You can see we go back to time period This chart just takes us back to the 2020 time frame But you can see back here in April of 2020 This was able to continue to advance higher Of course in that instance we start looking for divergences There's no divergence that exists right now I just simply want to point out to you Because you probably heard it yesterday as well It didn't matter what channel you were listening to If there was commentary and people were talking about the bottom Or the bones that we had out there Conditions are so oversold Well with regard to the general market of the New York Stock Exchange I'm not sure what they're smoking when they say that So the other element here And again I think these are going to be tricky Markets to navigate Very tricky markets to navigate So what's the offsetting factor here Right now the offsetting factor of a market That would want to move higher is the mere fact that we are now Day number two below the 50-day expense moving average And if the spot politics close below 27.05 That really suggests to you and I that we should see And move down to a slower Bollinger Band That's a 50 to 1 setting on that Bollinger Band And that would get us down to about 21.70 If we knew that the S&P 500, the S-mini Should continue to move higher Now maybe we see some type of pullback tomorrow You know that's really what the charts are kind of signaling to us We'll get back to this break Unless there are some questions that have come in Or a caller We'll start going through the eight-panel charts For equity futures and a few other things Hope you're right Steve Rhodes started his trading career as a student Almost 20 years ago And the student has now become the master Steve won the prestigious Timer of the Year Award in 2018 And barely missed that mark again in 2019 Finishing at number two for the year An amazing accomplishment Steve Rhodes is committed to sharing his techniques and knowledge With anyone who wants to learn And he shares his vast amount of trading knowledge every day In his Mastering Probability Newsletter Steve's award-winning newsletter Mastering Probability Is delivered every trading day With updates throughout the afternoon Sign up for Steve's Market Newsletter Mastering Probability You'll receive access to seven of Steve's educational webinars Absolutely free At TFNN All our newsletters come with a 30-day money-back guarantee So you have absolutely nothing to worry about Visit TFNN.com And try Mastering Probability 30 days risk-free today TFNN Educating Investors What's separating you From the most successful men and women on Wall Street? That's right Information Having all the information gives us the perspective we need To place the right trades at the right time The TAS Profile Scanner Is the premier market profile-based scanner Powered by its acclaimed TAS proprietary algorithms This feature-rich scanner Instantly filters over 2,500-plus global financial markets Such as stocks, ETFs, commodities, futures, and forex This powerful suite of tools Leverages instant trade filtering And strategy formulation For you emerging trades before they happen For a limited time you can save $100 off your first month By using the promo code Upgrade And you still get a 30-day money-back guarantee So you have nothing to risk Level the playing field with the TAS Profile Scanner Which you can find under the Services tab at TFNN.com Sign up today Sharpening your skills as an investor Is like getting better at playing a musical instrument You have to practice, sure, but you also need Excellent instruction from experts At TFNN, you'll get advice and guidance From the authority in technical market analysis And it's not just dry, tedious text either TFNN airs live financial content streamed live On TFNN.com and TFNN's YouTube channel With Tiger TV, live every market day From 8.30 a.m. to 4.00 p.m. Eastern Each host is an experienced trader And gives their take on the market While taking calls and questions live From around the world From the moment the market opens Until the closing bell sounds, Tiger TV Has 8 different shows with expert hosts To help you make the right moves with your money Watch online at TFNN.com Or on TFNN's YouTube channel And become the investor you were born to be TFNN, educating investors Or 8 internationally at 727-873-7618 Now folks, let's go out to Boulder, Colorado And speak with Joe Joe, thanks for calling, thanks for holding How are you doing today? Doing great, Steve, how are you? Excellent, thanks much for asking And Google-y one, G-O-O-G Is the instrument I believe that you've called about Tell me what you're doing, how is it best helpful? No, it's G-O-G-L G-O-G-L G-O-G-L, okay So, what do you, a Golden Ocean Group Okay, great, so something that I haven't looked at before So Golden Ocean Group, what do they do? Chippers Chippers, perfect, okay Tell me what you're doing and how I can help you I am short I was looking at Tom O'Brien a couple weeks ago And he said, look how fast this bad boy went up And it can come down just as quickly And with supply chain stuff And geopolitical stuff Might come down faster than it went up But I don't know, what do you think? Well, so I like that call, I'm going to switch over So right now you're looking at the black background charts But that's not really telling the story So what I want to do is, thank you for sharing that dialogue And your thinking, and now we can go take a look at A set of charts that really supports that And then you and I can make a determination As to where our thing's at now So I don't want that conversation with Tom As it doesn't matter really when it is And so I've gone to my white background charts Or this eight panel chart And what I'm going to do is I'm just going to expand out The daily timeframe, Joe, for us to take a look at And what we're going to notice here Is that when Ocean, when Golden Ocean Group topped It was a TD nine count top And that took place, you got the actual nine count On February 22nd Remember on a nine count, the high conform bar is Eight nine, or has to form a bar Eight nine to the bar following nine In this case here it was the bar following nine So that was your topping signal So regardless of how it went up What we like to be able to do Or at least what I like to be able to do here during the show Is help you identify topping patterns Not every, this doesn't qualify As every topping pattern But certain topping patterns when they're present You and I pay attention to And so in this case here you got that top Now when you get a top We should pull back to support So for different support levels I'm basically using three different things One of them happens to have three different things But inside them, that would be the market profiles But the first level that I take a look at Well, the first level, I try to figure out Where is support And in this case here support The first level of support really was the That day was it's oscillator and change line And the very next day price got down to it Tested it and rejected it But it also created a new daily profile At that time That range was between 1148 and 1229 Turns out that three days ago Or a couple, well actually before that Price was able to bust through the bottom of that profile And that says where's that next level of support So we use our oscillator and change line We use our three market profiles Assuming there's a top, a bottom and a center Sometimes there's only a top and a bottom Because often times, or not often times But the center can be at the bottom And then the last level Would be the breakout area And that is exactly what took place A couple of days ago Right down to $10.87 Do you see that? Are you watching this on Tiger TV By chance? I am, yeah Perfect, okay So you can see that level there Now here's one thing I can guarantee There's not many things I can guarantee But one thing I can guarantee is There's not an individual With inside the TF&N community That would have chosen 1087 Is the breakout area Just not anything that's talked to us And that is the power That's one of the additional power tools Of the TD9 count Not just the mere fact That it can help us to identify Where we're going to see a turn But also where is the breakout level And here price got back to that breakout level And that would have been the place If I was on the air with you I would have said if you were short That was the time to close that position Because price got down there It held that level And now what we see is yesterday Price got back inside the profile So you're back inside this little Consolidation zone Odds favor Now there is even an A to B Equal CD to the downside It looks like to me that has completed So this would be a Gartley buy So I'll just draw in the A to B point And that would be from here to here And I'm just going to take this over Just see if this did qualify It doesn't look like it really did Even though you had the yesterday Create that little three river morning star I don't think it really created The A to B equal CD pattern So okay didn't do that But what is it doing Very likely right now So you're short Price should go target the 1208 area 1208 to 1209 1208 is a likely spot But price is at a resistance area Which is the center of its profile Which is $11.83 1188 is the center of that profile out there So that's what the daily time frame chart Is telling us on GOGL So the short piece of it may be over Now let's look at the other Any question about the daily chart here Before I switch over to the other charts Nope looks good Okay is there anything that was confusing That I shared with you Just to try to color through Go ahead Yeah I'm good keep going thanks Okay perfect So now we get to the weekly time frame chart The weekly time frame chart Really doesn't have any kind of a topping signal And if anything What took place last week And this week was price pulled back And tested that green oscillator and change line And prices above its TD9 count breakdown level Which is $11.39 So the weekly chart right now Is communicating to us Joe That this wants higher price Now a green oscillator and change line Tells us two things Well what it tells us That the price oscillator is above zero And then when price is above A price oscillator is above zero Tells us we have a rising price oscillator Above zero Those are bullish conditions If we look at the monthly time frame chart We don't have any kind of a topping pattern In fact if anything This says that this equity Longer term wants to run higher And the reason I say that Is this had a TD9 count top in August of 2021 And last month price closed above that level So it's taken out that resistance area And this is all suggesting to me That price could move higher out here I'm just looking at the other charts Just see if there's anything else that I can see There's really not much else that I can do But that's the commentary On what the daily, the weekly And the monthly charts are communicating to us What additional information can I provide you Or try to clear up anything that I've said So before I close my short position If next week, you know We're coming into quad-riching If next week we turn down For a few days in the general markets Would you expect an equity like this To follow suit for a few days? No idea Yeah, so I don't know if you can really I don't know the correlation between GOGL and let's say the general market Or the S&P perhaps out there So, you know, I don't know The answer to that I think, you know, maybe it's worthwhile For you to just take a look And understand fundamentally what they do And where they're at out here So I don't know if you can make a general I don't know the answer to your question Is really what I want to say I can study that correlation I'll look into that Thanks for your help Appreciate it Hey, you bet And thanks so much for calling And best of luck to you That was Joe in Colorado And folks, since I'm on these White background charts here Oh, there was another question Which was a take look at the GDX I almost forgot about that So I'm going to go ahead And get this fired up here It may take a moment to fire up But what I can share with you So far, while this is firing up What we're going to see on a daily basis That price is trading above Its green oscillator and change line Once this populates, it's not I'm looking at a different screen That green oscillator and change line Should be at about the $37.95 level And price right now is trading out at $3806 So look, these charts here Will all be populated When we get back We're going to take a look at GDX for SNP inside the Tiger's Den Be back in a few Having fun, trading the markets But having trouble finding Like-minded individuals to discuss Your trading and investment ideas with Become an Apex Predator in the trading markets And join the Tiger's Den trading room Only at TFNN.com The Tiger's Den is an exclusive trading room Where successful traders from around the world Come to exchange trades and ideas Join the den and surround yourself With these sharpest minds in the trading world Subscribers to the Tiger's Den Are also the first to have their questions Answered live on air and can privately chat With our TFNN hosts live during their shows Interact with other Tigers and Tigers' As they share trading ideas, news analysis And discuss the market at an all-trading day Subscribe to the Tiger's Den Risk-free with our 30-day money-back guarantee And become part of the TFNN trading community TFNN, educating investors You could be making money off the stock market And if you're already making money Off the stock market, you could be making a lot more Check out TFNN and Tiger TV And get expert investing advice To give you the power to control your financial future Go to TFNN.com And find the newsletter for you Whether you're into trading gold, metals Futures, currencies, or options You'll get advice and analysis To help you seriously get ahead TFNN also features trading services With a 30-day money-back guarantee For new subscribers, as well as TFNN's Tiger Den trading room Trading software And educational webinars for all trading levels And make sure you check out Tiger TV For free on TFNN.com Or TFNN's YouTube channel for live financial content From 8.30 a.m. to 4.00 p.m. eastern on market days Stop watching on the sidelines While other people get rich And become the investor you were born to be TFNN, educating investors TFNN is excited about Our new software charting program The Art of Timing the Trade Chart In collaboration with Tom O'Brien And using his best-selling book The Art of Timing the Trade Your Ultimate Trading Mastery System David White has programmed an outstanding piece Of software that will complement Any trader's methodology Using this first-of-its-kind program The Art of Timing the Trade Chart Allows you to scan thousands of stocks For Fibonacci formation setups Including guardleys, ABCs, butterflies And much more The Art of Timing the Trade Chart 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 Chart 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 Welcome back, folks. We're taking a look at GDX. That's the ETF for the gold miners For S&P inside the Tigris Den. I'll give you the immediate play-by-play here And then we'll take a look at the bigger picture. So the immediate play-by-play, So we'll just expand this out, Pull this back just a tad. So you can just see how these signals Here that I use Work. If we take a look at yesterday At 3 p.m., price was moving lower Doing less relative energy And you had that nice bullish and golfing candle That form, prices above that oscillator and change line And that's led to a rally. That formed a TD9 count top Right at TD9 count breakdown resistance 38-38. That happened About an hour and a half ago at 12 noon So we can see that price is pulling back We see that the oscillator and change line S&P has changed colors. So odds favor Because we've got that top Because a resistance level held That we should see price net line Catch up to each other. Now the bottom Of the current profiles right around Where that line is at 37-72 So that would be the area to be watching That may prove to be the next short-term Buy level. Of course you want to see Price close above 38-38 Price close below the 37-72 area Further. And the only other level Of support that I have is the breakout area 36-03. Of course there is this big gap That took place overnight. So that could be An area of support. So that's the play-by-play On a 30-minute timeframe. If we're looking for where significant resistance Out here, it's going to be between 39-03 And 39-86. 39-03 As you can see is the top of the daily profile 39-86 is the top Of the monthly profile. So that becomes Where your sellers are really located at Of course we know that on a 30-minute basis At that TD-9 Breakdown level Out there. On a daily basis Price is above that Green oscillator and change line. So you're really Looking for a close above that level That is currently printing I think was 37-95 37-95 What is it? Hold on 37-94 37-95 So now if price can close above that SNP, that's going to suggest that price Should make a move to 39-03 Your confirmation, it's very clear Your confirmation of that move has to come From price closing above 38-38 That's a TD-9 count breakdown level That is where we had a TD-9 count top On a 30-minute basis and that's the area Of focus. So I hope that that helps you out Or provided you with the information that you were Looking for. If not, then just type something Into the den. In the meantime Let's go out to a park city And speak with Peter. Peter, thanks for Uh oh We were going to speak with Peter And he's gone. He wanted to take a look At the SNPs out there So uh I don't know if what Peter was really calling about Was the SNP or the ES-mini So I'll take the liberty and just go to the ES-mini since we can do that We can go ahead and try to navigate through This. So now we're going to take a look at our Eight panel charts out here. Now Let's do that same play by play. This is signaling to you and I that we should See a rally. Why is that? Well, if you take a look at the bottom Three charts out here. The bottom three charts. The 120 minute, the 240 And the 5 hour. What is it that you see Out here? Of course, maybe you can't see. Although I think that the picture Is relatively clear. Both inside Tiger TV as well inside our den out there And if Peter was on the phone with me He would say, Stevie, you know what I see I see TD9 count Failures out there. And he would Absolutely be right. And that suggests that We moved to higher ground. No, it's The 240 minute chart that's really going to have A little resistance area. And that next little resistance Area Peter is going to be at 43 8750. We're at 43 82 right now. So price can close About 43 8750 on A four hour timeframe. I believe this one This bar finished at 2 p.m. Let me just Make sure here. Yeah, at 2 p.m. So now it doesn't have to close above that at 2 p.m. But if it does close above it at 2 p.m. That's telling you about further rally to Come if price doesn't close Above it. Just know that that's your resistance Level that has to be overtaken. It should Be overtaken based upon the TD9 count Failures. But what it could have should It doesn't always happen out there and you just Want to know where the sellers are hanging out And that's the level but price should be over To take that and if it does then we should see The ES mini continue to rally that's coming From those three timeframe Charts out there Rally to where well There would really be a couple of different levels Now the profiles that I have we went through This yesterday that I have on the white background charts Are different than the black background charts And I can show you two black ground charts Two black ground charts that have different Profile levels. So we use them all. So at this stage here here's what we know We're just going with the white background charts And that is that the move then should take us up to About the 4438 level So close above 438750 Suggest that we should see a move to 4438 A move above 4438 Says we get back to the breakout level Or break down here I should say 4514 Now at 4496 That's another area that happens to be The green oscillator and change line for the weekly Time frame. So you've got 4496 You have Well you've got 4514 4496 4438 And 438750. Those would really be the Levels to be monitoring for the ES mini. So Peter even though you're not there Thanks for calling in Oh you are here how about that I called back when I didn't have the audio Actually I wanted to look, I was getting confused I wanted to look at the black screen charts For the ES mini daily weekly For the longest time it seemed like the weekly The bottom of the weekly profile was 4331 And I'm not sure If there was a new one formed Or if that one is still intact So okay so I've got the black background Screens up on my chart right now Black background charts up on my screen You almost think I've been celebrating St. Patrick's Day So on the left hand side The upper left hand side is a June contract So we have rolled over to different contracts And on the March contract there might have been A different level out there I'm only seeing your white charts at the moment Thank you Getting used to the new system Didn't change it so thank you for Sharing And thank you for not hitting me on I'm on my head out there So now you've got the black background screens And In the June contract The profile levels Price is trading above resistance In fact closed above resistance yesterday Which is 4326 If we go to Stevie's synthetic contract That would be the one on the right Because we've just rolled over from March to June This is perhaps Certain levels I would say this one on the upper right hand side Is the one that's a little bit more Accurate of the two But they both have meaning Price is sitting right at the top of that profile And that profile is 4381 So price can close above 4381 And 4387-50 That was at 240-minute breakdown level That would then suggest Peter that moved to 4438 We could also see Price is trading into resistance That would be sending trend line area too So if price can close above 4381-75 That would be a That would be a positive Outcome here So with regard to the 4380-3 Level I just wonder if I go back to this Set of charts here Can you also put a backup That's set with the weekly as well So on the weekly charts Out here I would come Take a look at this tab And on this tab here And we'll pull this back a bit here And so there is a new profile That is attempting to form Peter we won't have We won't have confirmation of this until Sunday evening But we use the information You can see that price is right up to the center Of its bearish structured weekly profile Which is at 4383 And then you've got resistance If price can get above this level Then that suggests that move to the 4480 Level Any other questions about the weekly chart No I'm going back I'm going to watch the archive All right I find it interesting I was going to email you about the NYAS, the oscillator But you already took care of that I was curious about that 150 Perfect Have a great tank patty stick You too Peter, great to talk to you That was Peter in Park City We'll be back in just a few folks We're selling real estate in the Bay Area Including the surrounding St. Petersburg Tampa and Clearwater Markets Tiger Real 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I'm doing well, listen St. Patrick's Day couldn't have a three-year day For St. Patrick's Day Yeah, I was picking up food two nights ago Just a little diner Near me And they had the weather channel on And there was a nasty set of storms Rolling, was kind of a little bit, I think To the west, just to the west of Orlando I mean some tornadoes and everything How did you fare through that? Well, we had quite a bit of rain earlier in the week I mean, yeah, it was kind of tough But it's a beautiful day today, that's for sure Wow, that's great, glad to hear it Now, you want to take a look at Walmart, I believe WMP is a ticker symbol Actually, I'm looking to go short It is in Walmart, what do you think? What do I think about going short Walmart? Great question, so What price, I'm going to look at a daily chart And there was a swing point that was Attacked yesterday And that swing point was from January 14th And that had 8.9 million shares And as that was attacked yesterday It was with 8.2 million shares That's still coming into that area with Pretty good volume out there Prices above the top of the daily profile So if you're going to go short Then I would at least wait for price to get back up To that 146.63 Type level 147.31 is the top of The monthly profile So that would also be where sellers are lurking And on a weekly time frame, that level is at 1508 And that's the top of its barestructured weekly profile So I think all that being said I'd probably wait for price to get up to the 1508 area And the question is, do we see any signs That maybe that will unfold So let's try to figure that one out And if we look at the daily time frame chart here What I don't see with regard to The daily time frame from Walmart Is any kind of a topping signal Today looks like it'll form bar number 5 Of a TD9 count, it's above its green oscillator And change line, that is bullish So this suggests on a daily basis So if you're asking me, do I see a pattern That would suggest that you go short now The answer is no, what pattern Could there be on a daily base That would take you into short position That could be an A to B equals CD And if I put this in here, which I'm going to The A point that I would start with Here reaches from February 24th That would be the A point The B point for me would be the high from March the 7th, and then the C point Out here would be the low from March 9th Now the B point that we referred to That was the one from March the 7th That's been passed with Light volume Nonetheless, even though you pass a B point With light volume, you could then create A call a tiger Sell the D point or tiger butterfly Whatever this might turn into But that price projection gets you to the 149, 76 level And remember the top of the weekly profile Which is 1508 So I'd be more comfortable right now Saying that that could potentially be the level And that's just simply coming back To this white background daily time frame And not seeing any kind of a topping signal Here, any questions about the daily time frame Before I move to the weekly What I was looking at is that This thing is kind of bounced through this 145 four times It did it once in December It did it once in Late November, once in December Once in January And each time it's been progressively Lesser volume Yesterday was lesser volume Than the other three times It went to 145 And I guess that's what I was looking at In terms of Kind of a stall you know that it Is having difficulty getting through That 145, 146 level Well let's take a look at that Because the volume that I have And we may have different volume metrics But the first time up in that level That I'm looking at rich as a day is November 26 and there were 7 million shares And yesterday there was 8 million shares Right? Was it 8 or was it 7? It was 8 So that's higher volume That's higher volume so 1 million on December 16 And then the day that we're looking at Was January 14 about 8.9 I'm not seeing the type of Lightest volume That's not that price can't stop there It's just you know if price is going to stop Let's say so let's just go with your theory That hey this is a level Where price has turned down before And if that is the case That what we should see out here Is we should see some type of short term topping signal I'm just going to go to the 30 minute chart out here And do that and do our analysis And granted We did get a topping signal yesterday At 10 o'clock in the morning It was really confirmed at 10.30 That was the road meant to the indicator signal here But it looks like to me So even it led to price moving lower I don't know why it found support where it did We'd have to go take a look at other time frames Out there but let's not waste our time doing that Right now on the play by play message Price is taking on resistance Which is the top of the 30 minute profile And that profile level is 145.11 You've got another 13 minutes For this bar to end If you close above that And certainly the next bar after that If it closes above that That suggests that you're going to at least Go make a run for the high of yesterday And again that high out there was at 146.94 So I don't really see The topping signal Per se just yet Now price might hold this resistance level It might hold this resistance level Because you want to take a look at that short position I would see I'd say watch 145.11 And if you see it close above that It says it wants to move higher And you can at least short it from a different Level out there On a weekly basis I just see a consolidation Inside that weekly profile And so that's suggesting getting back Up to that 150 level I don't really see anything else out here On the monthly time frame to help us It was really a TD9 count top To a sideways consolidation So if anything I see more of a consolidation And then in that instance It says you should really sell the top of the consolidation Which is all the way up at 153.66 Okay And the bottom of the consolidation is You know I'd use probably about 134.17 It could be lower than that But right now that's in essence The range that I would use I mean it could easily be down at the 126 level But I'd probably be looking at 134 Okay Listen Steve I appreciate it very much Thank you You are most welcome Thanks much for listening to the show Thanks for calling in, I appreciate it And have a happy St. Patrick's Day That was rich in Orlando You bet, you bet So I do have, it looks like One request that has come in So let's take care of this This is from JT in New York You want to take a ticker symbol DSL Yes we are. So in the case of DSL Just says tell me if it's put in a bottom Ah, so for that question We've got to go to the white background chart So now we're going to put up, this is Diane On double line income solutions Okay The answer is So I don't have a bottom signal for the daily time frame You're going to see a TD9 count But the low so far was on bar number 7 Not bar number 8 or 9 None the less out here JT is prices trying to get back inside Well, and if price is able to close above Today Price is able to close above 14.02 We're trading at 14.02 If it can close above 14.02 14.21, 14.41 And 14.64 become the targets Now was there a bottom on a weekly basis The weekly basis says yeah That's a possibility because this week Happens to be wave number 7 That is letter G Now you wouldn't know until next week In order for that to be a confirmed Year low But on a weekly basis You definitely have a bottom signal to pay attention to And on a monthly basis You are at bar number 9 of a TD9 count So look, the larger term time frame say yeah This could be forming a bottom out here Right now, we're just going to call this What I see it is, which is a counter trend Rally unless price close above 14.64 So JT, thanks Much for writing in Happy St. Patty's Day to you as well I hope that helps And we'll talk to you soon Be back in just a few folks Every market day from 8.30 a.m. To 4.00 p.m. Eastern For free, each host is an experienced Trader and gives their take on the market While taking calls and questions live From around the world From the moment the market opens Until the closing bell sounds Tiger TV has 8 different shows with Expert hosts to help you make the right Moves with your money Watch online at TFNN.com Or on TFNN's YouTube channel And become the investor you were born to be With NN, Educating Investors The opening call newsletter Is written by Basil Chapman Creator of the trading methodology Known as the Chapman Wave The Chapman Wave up-down sequence Gives you an edge in identifying price Turns, finding the peaks and valleys In stock prices Get the opening call newsletter by Basil Chapman in your inbox every day First time subscribers also get a 30-day money back guarantee If you're not satisfied, let us know And you'll get a full refund within TFNN.com Educating investors Are you looking for a secured investment Which pays you on a monthly basis? 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Welcome back, folks. So the Question came in. What's the Key level to be watching inside the TV? We're going to take a look at the Play-by-play, the short-term time frame chart. That's going to be the 30-minute chart. What we're going to see here is at the end queue. Nope, I take that back. The Dow and the Russell 2000 are the only ones right now on the 30-minute basis that are going to complete the 30-minute chart. We're going to take a look at the 30-minute basis that are going to complete Bar 9 of a TD9 count. Now, it can be the hide that's in place right now, or it can be a higher high that forms between 2 and 230. So you want to watch for that. They are the ones that are suggesting we should see some type of retracement. It'd be nice to have a unanimous message, but we don't have a unanimous message. The 30-minute charts for the ESNQ are saying, hey, Stevie, I don't know what you're talking about. What I am talking about is, as a matter of fact, you've got TD9 counts for the Dow and the Russell 2000. Now, the cool thing about those patterns, folks, is that whether it's this high during this half hour or a higher high that takes place when David White, our favorite polar bearer, is on, is mark those points because if price close above those highs, then that tells you about a significant momentum move to the upside for the short-term Russell 2000 did not. So that's what I'll be watching. I don't know if there's really anything else that I can share with you. I mean, I can share with you everything possible, but I think we really kind of covered it for the equity markets out here. I don't know what last can I show you. Let's change screens here. Change windows. We'll go back. Just take a quick peek at our market update charts out here. See if there's anything showing up there that we can discuss. And here's that nine panel market update chart. Not much has really changed since we came on the air. So, folks, thanks so much for joining us. Although I do see 30 or Treasury, they're sitting really right at support. The lovely watch there is 151 and 2230 seconds. Folks, day two, David White's up next. Our favorite polar bear, Tom O'Brien will take us on home. Have a happy St. Patrick's Day. We'll see you tomorrow. Take care, folks.