 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 morning, folks. Welcome to the July 31st, the magnificent Monday edition of today's Trader's Edge show. I'm your 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. Now, 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 circumstances that life is going to toss at us. Now, today you and I are 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 at just past 11 o'clock in the morning. I want you to know I'm absolutely grateful for your presence here, but even more important than that. That's this. During this next 53 minutes, I'm here to serve you. So feel free to pick up that phone. We'd love to hear from you at 877-927-6648. Now, if you've got a question but you can't call in, we've got you covered. Send me an email. Send that off to Steve at TFNN.com. And inside the subject heading, please put a radio show question. Of course, if you're inside, our tiger is dead. Well, then any and every ping will do. But get this show started on magnificent Monday. Of course, this is Tiger Financial News Network. I'm Steve Rhodes. Welcome to the show. Right now we've got most of the U.S. indices trading the upside. The one that is not is the transports. They're off 23 points, about a little less than two-tenths percent to the downside. Otherwise, other U.S. indices trading higher. Down to 54 points, less than two-tenths percent. Same for the S&P, which is six points. Same for the Nasdaq, which is 24 points. Seven-tenths for the Russell. That's a 14-point move. 17 points for about four-tenths for the semis. You've got gold trading up seven bucks. About four-tenths percent. Silver's up 40 pennies. One in six-tenths percent there. Light's recruit up six-tenths or 51 cents. Natural gas up two cents. 30 treasury. Printed out of 124.19. That is up 11 ticks. Now, leading the charge dollar-wise today, we've got Chipotle. $36 moved nearly 2 percent. Nearly 2 percent for Mercado. Lear Bay, 22 bucks there. Adobe's up 19. Model power system, 16 in chains. And United Rentals, 15 bucks. 15 and a half trading up three and a half percent. Trading out at 461.58. To the downside, it's Thermo Fisher. Leading the charge off $12.50. Followed by Silicon at 965. Regenerance down $7.00. And change as is Johnson and Johnson. Water's corp of seven bucks as well. That's about a 2.5 percent move to the downside. Of course, I want to look at what you want to look at. Let's begin by paying attention to the equity future contracts. I'll start and take a look at those. Here are the daily time frames. What do we know? We know that if the ES mini closed about 46.09, 25, it will negate its roads momentum indicator top. And that will suggest a further move higher. 46.09, 25. If we take a look at the NQ, the NQ very likely wants to target its profile resistance zone or level. And that's up at the 15, 967 area. Now, I would naturally guess what the NQ needs to do to get back to its bullish ways would be closed above 16.062.75. If it does that, it will negate its roads momentum indicator top and suggest a further rally. In the case of the Dow, the Dow has two different tops out of the Dow equity future contract. It has both a sell the D point and a TD9 count top. Now, the TD9 count top would be negated with a close above 35, 6.93. But the real top to watch now is the sell the D point. In order for the YM to be in a bullish mode, what we need to see is a close above 35, 843. That's the number to have on your pad of paper. The Russell 2000 has an A to B equal CD pattern. It also has a roads momentum indicator top that's at 2007. We're trading at 2007.30 right now. A close above 2007 negates that signal would then suggest to you and I that price will complete at least the 1 to 1 A to B equal CD. That 1 to 1 price target is 2030. So as we speak right now, we have basically two tops that are in place, two top, the roads, and when I say two tops that are in place, the NQ and the Dow, those tops are still in place. Right now, the tops for the ES and the Russell 2000 are being threatened. Let's not stop there. Why not? I don't know. Let's not stop there. Let's go dig into, now I had to reset my machine just before we came on the air. The whole thing kind of crapped out so to speak. And so I don't have everything back in line the way that I need to. But I do have the ability to take us over to take a look at those day trading charts if you will for the NQ. We can take a look at the intraday time period. So no need to really talk about the daily time frame. If you look at a five hour chart, conditions here are bullish. Bullish because price above the top of its profile are in change line. This suggests a run up to 16062 over time. In the case of the four hour time frame chart, we have a consolidation with inside the profile. Its level of resistance is at 15917. So close above 15917, which suggests to move to 16062, same as the five hour chart. The two hour time frame chart has a TD9 count top with a resistance level that formed back at 10 o'clock in the morning on July 27. That number is 15904. A close above 15904. Well, that would then say, well, 15917, the four hour chart is really that resistance. Oh, you're not seeing those charts, hold on. That didn't go over there. Now you're seeing those charts. So here's back on the five hour chart. You can see you're above profile and that green oscillator in change line. If you take a look at the four hour chart, you are within profile but above the green oscillator in change line, 15917 being the magic number there. And here's your TD9 count top at lower high at the 15904 area. Let's still call it 15917. A close above that, we should see higher price. 60 minute time frame. We've got a sideways consolidation. You had a TD9 count bottom that formed at 1230 last night. It took price right up to resistance. Whereas resistance, the TD9 count breakdown level, you want to learn that pattern, whether you're an interday trader, whether you're a swing trader. It's just an easy pattern to understand. I teach it to you. You can just subscribe to Mastering Probability and you'll get the access to that workshop. No reason for us to really spend time on the 15 and the 10 minute charts out here. So the end queue we're really watching resistance and we're going to call it the 15917 area. We can throw up the ES mini charts here real quickly. Let's get those up, see what we're dealing with here. And this will take just a few moments to pop it. Again, we're trading above that key level, 460925 as we speak right now. And a close above that suggests higher highs. Where are the next resistance points then as we take a look at these intraday charts? The five-hour chart does not show anything. Everything is still, I take that back. The five-hour chart shows a consolidation with inside of profile. It's next upside resistance target, 4634. Same thing for the four-hour timeframe chart. The four-hour timeframe chart later this afternoon could form a TD9 count pattern, but too many things need to take place between now and then for that to occur so we won't go through those details. But again, 4634.50 resistance in the case of the two-hour timeframe chart, it has a resistance zone. And that zone is between 4618, which so far has held its resistance. So if you see a close above that, that key area will have failed. But the zone is between 4618 and 4634.50. No surprise there. So if we're going to get up to 4635, we really need to see a close above. Let's call it 4618. What is the TD9 count top-out here on a 15-minute chart just out of curiosity? 4618.75, that's the new number. 4618.75, you close above that, we're headed higher. Steve Rhodes with TFNN. We'll be right back. 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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 and you'll receive access to 7 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. Let's go out to Omaha, Nebraska and speak with Mike. Mike, thanks for calling. Thanks for holding. How are you today? I'm fine. How are you, Steve? Excellent. Thanks much for asking. You want to take a look at ticker symbol SPWR. Tell the folks what you're doing and how I could best help you. I got in on Friday, 9-21. I think it may have some room up, but I just want to see what you say about having a swing trader. There's some room upside. Here's what I'm going to do. I'm going to switch from these white background charts and go over to the black background charts simply because it provides the answer to your question out there. We switch over here. I'm just going to expand out to the daily time frame and then a daily time frame. There's a brand new market profile to this one. I'm going to turn off price for the moment because this market profile looks like both the center and the bottom are at the exact same spot. This new profile and this tells us where both buyers and sellers reside as of today. The buyers are at 9-41 and that's both the center of the profile and the bottom. That's a very strong support level. I know you got in around 9-20, you said. I would say a price close below 9-41. I would take whatever remaining profits there are. As far as the upside potential, the top of the profile where the sellers reside is at 9-96. That's in the daily time frame. This is going to be a candle's back up here. You're trading right now at 9-69. The first answer to your question is where is your upside resistance? Is that correct? That would be at 9-96. That's on the daily time frame. Your weekly time frame. This is kind of interesting. Peer price is trading below the bottom of its daily profile, which is 9-63 is the bottom of the weekly profile which price close below last week. Now, you need to close below a bottom of profile for two consecutive sessions to suggest that this really is a real move and it wants to head lower. Not that it can't be a real move, but we're really looking for confirmation here. But right now what price is trying to do is get back above that 9-63 level. So you'd really like to see price hold that. And then if you do, that would give you that more confidence at 9-96. You said you're just a swing trader. And you've got that 11-54 real upside weekly price target. I can switch back to just a swing trade though, right? So you're going to be in and out. I think I've given you the information that you're looking for. Is there something else that you need? No. The TD counts are going to have potential for the upside because they want to have it keep going down and it's not falling, finish falling. So I'll share with you what it's actually done here. So SPWR, which is Sun Power Corp. Gapped down big time on July 26. The volume behind that move was 23 million shares. Going into a roachment to indicator bottom from July 10 that only did 5 million shares. But it still never busted out that swing low and you're back above that swing point. And any close above 943 on less than 5.3 million shares, today so far you're doing 2 million shares so it almost seems like it's too much volume. But that would be a rejection of that swing point. Daily wise there is no TD 9 counts for you to be concerned with. Price was just pulling back to that roachment to indicator bottom from back on July 10. There is no bottoming signal per se on the weekly although let me just expand this out. I can come up with an A to B equal CD to the downside that was confirmed in July the week of July 14th out there. What that would then say to you Mike is at a close below that level that level meaning the low of that candle session and that is at 899 that would tell you that you're on the wrong side of the trade to the upside. The only TD 9 count pattern you mentioned that is on the monthly timeframe and bar number 8 will complete today. It still needs that 9th bar in order for that to happen. That means in the month of August you would need to see a close below 1322. So I think instead of I think I just trade this more from a swing standpoint out here and if price can overcome 996 you know you still got that gap that you're dealing with but I'd say at that stage and you'd be looking at 1059 and 1154 as your battleground areas. Appreciate it. Thank you so much. Perfect. Mike, thanks for calling. I hope that you call again. That was Mike in Omaha, Nebraska and that was ticker symbol SPWR Sunpower Corp. Let's go to our next question that came in. The next question coming in from Greg M. And Greg wanted to take a look at Palantir. PLTR is the ticker symbol. Let's actually get to Greg's question and came in by email and says hey Steve would you look at PLTR for me and discuss the potential of an A to B equals CDT upside you own the stock you've you've also taken profits recently like your thoughts on support and resistance levels and where you might add on pullbacks out there. Okay, Greg, so let's see first question you wanted to look at an A to B equals CDT upside. So what I'm going to do here we're going to switch back to those black background charts because that's where we can draw in that pattern and give you some accuracy. So we'll switch back there. We'll take I believe it was the daily timeframe that you were looking at out here. Let's take a look at its A to B equals CDT patterns. I see one that we've already drawn in there but let's get rid of that and now let's take a look. So the A to B equals CD I would believe the one that you're looking at would look like this. I would start down here with my A point being May 4th low and that didn't work. So Steve has got to do this again. It shows the high of the pattern. Let's try this one more time. The low of May 4th please listen. There we go. Now for your B point that's it. That's easy. That's going to be the high of June 6th, June 7th I should say and your B point is going to be low of June 23rd. Now that B point did volume of 227 million shares. When it was passed it was passed with 63, 87 nowhere near that type of volume has it passed that today you're at 83. So 83 got 160 maybe 200. You're going to be close today. Do you need to pass that B point with volume to have an A to B equal CD pattern to the upside? And the answer that question Greg is no you do not. Would you like it? Sure you'd like it. Do you have to have it? No you don't have to have it. Here's what we know right now on a daily time frame. Price is trading above its most recent highs. It's trading above the top of its daily profile closed above that on Friday. So your one-to-one price target is up at the 2344 level. This is above resistance. So support I would say old resistance would become new support and for this instruments that would be 1757 at least on this black background chart. Let's take a quick peek here at the weekly time frame. See what we have here in on a weekly basis the swing point did volume of 632 million shares. We closed above with 265 last week. But you are above resistance on the weekly time frame chart. You ask also asked for that that resistance was 1716. You close above that last week you close above it this week. That becomes support. So your two support levels are 1757 and 1716. Resistance now when you take a look at Palantir Palantir on a monthly basis may have run into that resistance level and that is the bottom of its wall is structured monthly profile that form below price. So here's what we know the first level of resistance is 1985. The price must close above that to then suggest that move to that A to B equal CD target regardless whether it was volume or not at 2344. So your real battleground right now is 1985 and if price can start trading above that level that then Greg should lead you to higher price. Steve Rhodes with TFN we get back from this break. We're going to take a look at National Gas for Kota US dollar Japanese yen as well. Of course I'd love to hear from you 877-927-6648 or Steve at TFN dot com. 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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 dot com or on TFNN's youtube channel and become the investor you were born to be TFNN educating investors don't forget you can listen to TFNN live on your mobile device 24 hours per day go to TFNN dot com then hit watch Tiger TV that's TFNN dot com then hit watch Tiger TV good back folks so we had a request take a natural gas my apology I didn't write down who made that request doesn't really matter but one of the things we were on the together on Friday I mentioned to you that I had the continuous contract up for natural gas for the monthly time frame and I said I really need to change that out which I did I was surprised that actually my system was able to take the September contract and get the actual reading and the for example September and I'll show you the difference because it's not going to affect the other ones but here what we can see is this actually formed a buy the D point pattern last month the month of June out there because what we have is we had a nice bullish engulfing candle so the A to B equal CD and your A point would have been the high from June of 2022 your B point would have been the low from October 2022 your C point was likely the high from November 2022 made more than one to one A to B equal CD it actually had formed a buy the D point pattern back here in February 2023 that pattern was negated when price closed below the bottom of that hammer candle so it's not like this pattern can't fail it most certainly can but on a monthly time frame chart what this has is already has a buy the D point with price consolidating with inside his profile now if I put up the continuous contract out here which has more data but this has enough data for me to say okay this is good this is a good pattern so you already have a monthly buy the D point pattern and I did not realize that when I had the when I had this chart up here why didn't I realize it well I mean we do have a buy the D point pattern I suppose I would be using the same the same candle for both a B and a C point of an A to B equal CD to downside and that's what you'd have to do here so that's why that didn't really stick out at me but what did stick out me out at me on the continuous contract was the TD9 count bottom but we're negating that all together now because what we've got is we've got a current contract which is September and we've got a buy the D point pattern with price consolidating with inside the weekly timeframe out so I want to clarify because I was giving everybody a price point that we needed to see price close below using a continuous contract and I'm saying throw that out the window sorry about that if we take a look at the weekly timeframe chart you've got a confirmed TD9 count bottom a confirmed roads momentum indicator bottom just simply with a consolidation with inside his profile so what we know here is the real key level of resistance for natural gas is going to be about $2.85 the top of that profile if price can overcome that level then we'll see a move up to the 326 ish area that's under September contract on a daily timeframe we just have a good old fashion consolidation between profile support and resistance that's at 250 2.501 to be exact and 2.757 up at the resistance area so that's pretty much what I've got for you on natural gas whoever asked so what I can share with you is you've got a bottom on the weekly a bottom on the monthly no real pattern on the daily no bottom pattern I should say but since we're already off of those lows we're inside of profile levels we're going to just simply say that is unimportant as we speak what is important is going to be $2.85 out there you close above that and then you're off to the upside when it comes to natural gas let's take a look how that was code out there code also want to take look at the US dollar Japanese yen so let me close out these charts free up some resources get over to that currency pair which is smarty look like you want to continue to further weekend or strengthen when we take a look at the US dollar index but here we take a look at it now how did Stevie come up with that I came up with that by taking like first at the daily timeframe so at a daily base with regard to the Japanese yen forms a beautiful TD9 account bottom does that on July 14 makes a nice move higher into that oscillator and change line wasn't able to hold it pulls back test and rejects that that swing point from July 14 and now today a close above the level from July 21st 14195 will trigger an A to B equal CDT upside what's that going to look like excellent question so it's drawn the A to B level out here or approximately let's go ahead and take that over to the C point that C point would say well we're going to get up to is about the 143 and change level but price may really be targeting here's what I want you to know or notice see how prices along the left side of that blue diagonal line that was the same blue diagonal line that created that A to B line this communicates to you and I that more likely than not what price wants to do is more than a one to one A to B equal CD and that would then take us up to the 144 73 level so that's what I see when I take a look at the daily timeframe for the US dollar Japanese yen what else do we have out here you've got price trade above its green monthly Oceter and change line above its weekly green Oceter and change line those are bullish conditions out here so it really does look like what the US dollar Japanese yen does want to do is trade higher right now it's dealing with a couple of topping patterns intraday wise those topping patterns in the 30 minute roads went to mitigator top key level of support is 141 93 you've got a TD 9 count and roads went to mitigate our top on the 60 minute chart key support there 141 75 you've got a TD 9 count top now you don't have that's not going to you got a wave stem we're not going to go into the 120 minute chart so 141 75 would be the areas I would be watching for a support out there let's go out to John and Philly John thanks for calling thanks for holding how are you today Steve I'm doing just fine thanks for taking the call my pleasure is always and you want to take a look at light sweet food what are you doing I apologize I should ask just up front you're halfway into the show have you discussed oil with your audience already today I have not then then here's my question Steve I'm with the world specifically directed answering the following question with this rally just by way of background I have been trading I've been trading oil virtually exclusively from the long side but particularly in the past three months since that early May low and we've been rallying very nicely since I believe it was the 27th low so we're just stair stepping higher the uptrend is clear to everybody who takes a look my question to you sir is could you just bisect the daily weekly charts using your indicators to let us know if there is something we need to be on look on the outlook for right here right now for a possible rally completion yes we do have something John that would be the daily time it would really be two different timeframes the daily and the weekly we'll focus on the daily because what the daily is going to do today is form bar number 8 of a TD9 count in order for bar number 9 to occur tomorrow lights recruit will need to close above 78-78 so I would say odds favor that lights recruit will form a TD9 count top between today and Wednesday now prices above profile levels so even though it's got that top it's more of a neutralish type signal and really would suggest that we should at least see a retracement and the target for that retracement right now would be about 78-77 that's the current print for the daily oscillator on change line the second chart that suggested beyond look for a top would be the weekly timeframe and in the weekly timeframe what I've drawn in here is a consolidation pattern so we're trading up near or close to the consolidation high we're getting up towards that level we've got a daily TD9 count top that is in place out here the monthly if it can close today above the area John of 79-87 suggested it wants to make a move to the 85-59 area so maybe we're going to see a spike higher in the next couple of days that completes or sets up that TD9 on the daily hold on through this break here we've got about four seconds we'll come back finish looking at lights we recruit you might think that if you want to be successful at trading in the stock market you're going to need a crystal ball after all it's impossible to predict the future right like any endeavor in life before you decide it's impossible get some advice from the experts you might find that it's not so impossible after all for daily market overviews that give you direction on the key indices 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topping patterns of the 30 to 60 show a confirmed roadsman to indicator top but a close on a 30 or 60 minute basis John above 8170 would suggest that the rally will continue which I think is the likely outcome here but price needs to close above those those intraday levels to suggest that will continue from this year and the reason why I think that it will is price is trading above profile levels in most of those instances as well as their green oscillator and change line so I do believe the rally will extend itself for another day or so before we get that short-term top what say you my friend thanks so much for all that my one observation to share is since way back last December ish daily chart that goes back that far so I'm kind of going from memory which could be a bit off but that's okay since that point in time we've had multiple rallies you know on the daily chart basis which have all stalled out in the vicinity of 83 bucks a barrel and we're here at you know 81 and a half and so as I look at that just share two things one I wouldn't be surprised if sellers take control and cap the rally at that 83 level again regardless of what happens over the intermediate term and if in fact we do get to 83 and clear it where sellers are stuffed that will be incredibly important because should that scenario unfold 83 which has proven to be a stubborn roof months and months now would flip to becoming a floor so I can envision this week next week as being a very pivotal time well you know this consolidation to a certain extent so you went back to December of 2022 and in essence that's what this weekly chart was showing also was that top of the consolidation now in one sense we could say that the consolidation really began let's say November of last year this would then be the since that time period this would be the third time up to try to bust it up is it usually the fourth time up that it does that well you know Steve those are decent rules of thumb to pay attention to but I confess I don't I have found when I fixate on rules of thumb I can get locked into a point of view and wedded to a point of view and then get hamstrung should something else occur so I'm just going to focus on what the buyers and sellers do with this 83 area and keep in mind this idea that when we do get above 83 whether it's you know this week or this month or sometime further out in time that that becomes a floor and that will be a very important thing to use as a trader you know for risk management perspective absolutely absolutely John is there anything else I appreciate your help as always you bet good to speak to you that was John in Philly let's go on to our next request out here this from Dan inside the Tigers they might take a look at ticker symbol let me just close this seven charts out here SPR SPRO so we'll get to that here momentarily get back up to the right spot I just have to find it is it here there we go perfect okay so let's start take a look at this ticker symbol SPRO is SPRO Therapeutics trading out right now at about a buck 61 had a nice gap to the upside that gas so this formed a TD9 count top TD9 count bottom I should say completed that pattern on a Friday formed it on Thursday completed on Friday Friday was also a confirmation of a roadsman to minicator bottom and now today prices trading above profiles trade above its TD9 count breakdown resistance of buck 53 Dan are you long this instrument here this is giving you a change in trend signal as we speak today on that daily basis a second close tomorrow above 153 would be that confirmation out there if we look at the monthly weekly timeframe you've got a TD9 count bottom that formed last week it's going to complete this week so this suggests that the next level is of resistance to your next battleground I should say is it about a buck 68 a buck 68 happens to be the center of its weekly profile now price can clear that level Dan then your next resistance level is between a buck 86 and a buck 87 a buck 86 would be the weekly TD9 count bottom or its threshold or its breakdown level and 187 right now is the current top of its weekly profile the monthly chart loves the nines it's got a TD9 count bottom out there it's just led to a sideways move but right now looks like you're off the Schneid with today's move to the upside got big for this instrument you're already about 2 million shares out there doesn't trade anywhere near that average on a daily basis so things are looking very bright for sparrow therapeutics so Dan I hope that helps you out and thanks much for the request we had a request for the swabby one that came in from Kota inside the Tigers then SWAV is the ticker symbol so let's take a look at what this is doing which right now is triggered this is by the way today this triggered a roads momentum indicator signal the signal is different than the top or bottom this would be a bottom signal now it's required here Kota in order for price to confirm that pattern would be a bullish reversal candle if we get that that confirms a roads momentum indicator bottom that would then tell you that you've got resistance at 266 and 268 those would be the areas that price would need to clear the weekly timeframe chart does not have a bottom pattern prices below profile this could be the second week below profile you could actually take out a swing point this is the swing point from the week of July 7 the volume on that swing point for the week was 1.8 million shares last week as an example we were moving into 1.5 million shares so we're not below that area just yet you've tested and rejected that swing point out there but I would be watching a true rejection in the weekly is going to hold because that swing low being tested with lighter volume then what you should get that is that bullish reversal candle on the daily timeframe the monthly chart not really telling us a lot it's a gigantic profile so price is the support level here for the swabby one between 134 and 154 that's that bullish structured area and resistance up at 320-54 now prices lost momentum we say that because prices trading below its green change line so overall with regard to a shockwave medical in order to get on its merry way to the upside the first thing it needs a bullish reversal candle the second thing we'll need to do is take on those old buyers now may have become sellers they're sitting at the 266 93 level so hope that helps you out and thanks so much for the request next request coming in from my email is from I believe it's from Hector and the fuel injectors Hector wants to take a look at XLE Nick wants to take a look at the GDX we'll do both those things we get back to this break if you're looking for potential trading setups in the stock market then rocket equities and options report is a newsletter you should try Tommy O'Brien delivers options and equity trades when the markets present them using a combination of fundamentals and technicals sign up for rocket 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we do have an A to B equal city to the upside on the daily time frame with its initial price target of 88.69 today is going to become bar number 8 of a TD9 count much like lights we crude that John and I were taking a look at the XLE has that daily TD9 count top is likely to form tomorrow complete the very next day out there so I'd be looking for that as a short term again the price target 88.69 may in fact come to fruition over the course of the next couple of days out there but no way to be equal city on the monthly time frame I'm assuming that you're looking at the new one that could form not until we get above the 94.71 but again in summary we should see a short term top form in lights in the XLE form between Wednesday of this week the last request take a look well it's not really the last request we got two more see if we get them in here this is from Nick he says good morning Steve what would negate GDX and nuggets A to B equal city to the downside that would require a close above the swing point from July 25th that swing point high is 3189 14 million shares traded hands that day you're into it right now with 5.2 million shares so likely that high is going to be a little bit of a test now this is only a counter trend move here it's only a counter trend move the GDX would stop at 31.70 that's that's going to be a real key level out there if price can close above that 31.70 then likely this is not a counter trend move will negate will forget about the A to B will CD pattern and price should go on and target 32.40 remember the GDX is so directly correlated to gold and silver you've also got to always take that into mind that out here meta does not have any kind of a topping confirmed topping pattern out here it does have a roadsman to indicator signal but jambalaya that needs that bearish reversal Canada to confirm that pattern otherwise looks like Facebook wants to go target the 353 area out there in the gate by the way it's weekly TD nine count top last week folks stay tuned for all the great news to actually be back around 3.15 with Tom for a quick segment take care have a magnificent marvelous Monday