 is a presentation of TFNN. The Trader's Edge with Steve Rhodes. Now toll free at 1-877-927-6648 or internationally at 727-445-1044. The Trader's Edge. Now Steve Rhodes. Good afternoon from TFNN. Welcome to the May 10th, the fantastic Friday edition of today's Trader's Edge show. I'm your host, Steve B. Perseverance Rhodes, who absolutely knows that each of us should always be pioneers of our future versus prisoners of our past. Hope everyone out there's having a great day. Let's make sure we have an extraordinary one and of course the easiest way to do that is to always remember that life, life is happening for us, not to us. That's right, when you and I make that one little two by four shift, means we can find the gift in every set of circumstance that life is gonna toss at us. Today, you and I, we're gonna go check on the circumstance of these markets. We're gonna go figure out what those bulls and bears, what those buyers and sellers are communicating to you and I just past one o'clock in the afternoon. I want you to know I am absolutely grateful for your presence here, but more importantly, I'm here to serve you. So feel free to pick up that phone. That's right, you can dial in right now at 877-927-6648. If you can't dial in, we've got you covered. Just send me an email like Michael H. did here earlier today. And inside the subject heading of that email, if you'd put radio show question, man, he did that perfectly. That's a beautiful thing. It makes it much easier for me to pick out your email out there. And of course in our tigers den, any ping will do. So they say there's no charts, that would make it difficult to actually see what it is I'm going to share with you. So we're going to change that here right now and charts are up. And right now we've got the Dow trading down to 123 points. The S&P is off 14. NASDAQ down 65. Russell's off seven. That's about a half a percent. New York Stock Exchange only down a quarter of a percent. Transports are down over 1%. They're trading out at 10, 5, 13. Gold's up three bucks. No big deal. Silver up a penny. No big deal. Lights recruit up 24 pennies trading at 6194. You've got the booking holdings, the oldpriceline.com, up $61. Three and a half percent. Big move there. Guardian Health is up 20%. That's $13. Buckeye Partners up nine. A few others that are to the upside to the downside, the big loser. And I do mean loser. Like they, you know, loser like on the forehead. Puma, biotech. That's down 37%. It's 11 bucks. It's trading at 1887 out there. Fibrogen is up $11. 24% exact sciences. Down 7% or 7 bucks. Wind resorts off about seven, about four and a half to 5% out there. Screen is blank on your side. Hopefully we're all set now out there with regard to screens. But look, let's go to Michael's question. I guess somebody give me a thumbs up. Let me know that because I want Michael to be able to see the charts that we're taking a look at. And Michael wrote in about Nokia. You may remember if you're listening to the show, he wrote in a little while back about Nokia and so let's take a look at his question. Says Nokia's headquartered in Finland. And according to some pundits, it's a worldwide leader in 5G infrastructure. Seems like the stock has headed to 450. Like you said earlier this week, still the case is the question mark. So let's go take a look at it. And what we were looking at out here is this chart specifically, clearly I've got the yellow line out here which was a breakout area. And the breakout area began from the trading session of February 1st, 2018 when price gapped up with 68 million shares. Now it's pulling back with light volume. Yesterday as an example was 29 million the day before 22, today you're at 16. So it's coming back into that area. Is that a bottom? I don't know. It's not a bottom worth buying here just yet. The 450 area would take it all the way back into its swing point from December in 2017. So you ask the question still the case. This is an area here where there's potential support. Michael, but I don't have a pattern on any other timeframe chart to suggest that that is the case out here. I suppose the weekly timeframe chart shows that this week, I don't need to put up on a screen. It's gonna be week number eight of a potential TD set up nine count to the downside. But when I look at the weekly timeframe chart here, the volume that we're dealing with. So let's go take a gauge of that. That would be the December 11, 2017 area. Let me just draw a line across the top of that so we know where that swing point value is. And on the weekly base that level is 472. But here's what we know about that swing point out here, Michael. Again, 82 million shares, December 11, 2017. And this week alone you're at 136 million shares. So price is still barreling down. I'm gonna say be patient. Let's wait and see what happens at the 472 level. 472 is not the be all to end all because that could take you to 451. And if price continues to move lower with volume and that's gonna bring in the swing point for back in November of 2016. That's anywhere between 433 and 404. We don't have any weekly profiles to hang our hat on. We've got a quarterly, but that's about it because price below weekly, monthly, daily. It looks like this is gonna pull back into at least the point of control of that quarterly profile level at the 467 area. So Michael, I say just be patient, continue to watch. And what would you really want to see here with the absolute destruction that we've seen inside this equity and realize as great as people are saying that they are, that they're leaders out here. Is there anyone that would really look at this chart of Nokia and really say that they're a leader? This is not the stock behavior chart wise of a leader out there. So be careful what it is that you read and instead just read the stock charts out here because they paint the picture. I mean, Michael, even if you buy some kind of bottom here yet there's not anything saying that this thing's gonna give us $6.69. Percentage wise that might be a nice move, but I don't know if this is the bed you want to be messing around in. Not that you should mess around in bed. Let's go take a look at his question. He's got another question here about natural gas. Is it trying to find a bottom or is likely to test the lows of 2017? So I don't know the answer to that question. Let's go see what the natural gas contract is communicating to you and I. And I've got it as June. Is it June? Somebody in the demo though. Is that the active? It's relatively active out here. But I don't know if it's, I don't know if June's the actual active contract or not. Let's go with June as we speak right now. The question was, is this trying to find a bottom? So if we look at the daily timeframe chart out here and the daily timeframe chart for us shows both a, let me see if I can get this up as well on my other screen, but it shows both the daily and the weekly profiles. Those are the green and blue lines that you are looking at on my screen out there. This is kind of a strategic pause as I try to search hunt and peck actually with my mouse out here for the ticker symbols. I can bring it up on the other screen. I need to do that in order to really answer, answer Michael's question. Now I'm gonna have to put up the continuous contract just to see if there's some type of bottoming signal out here. What I would suggest to you is the following. It looks to me like prices at least headed to 2.663. That's the top of its weekly profile out there. So we're going to break out here. Michael, let me just surf around and see what, oh, I do see that TD set up nine count bottom inside of natural gas. That took place right out here on the trading day of April 25th. Yeah, could be bottoms up. Steve Rhodes with TFNN, we'll be right back. The Taz Profile Scanner is the most revolutionary piece of trading software that you will ever try. Wouldn't you like to approach the markets with confidence? As you begin your trading day, it's likely that you'll be faced with lots of decisions. In order to make the best decision, the first thing you'll need is a strategy that will help you minimize your risks. Whether we're in a bull or bear market, a good strategy is to have the tools needed to help you scan and analyze the markets before you trade. The Taz Profile Scanner instantly scans and filters over 2,500 global financial markets, such as stocks, ETFs, commodity futures, and forex. Headed by Steve Dahl, President of Taz Market Profile, the Taz Profile Scanner understands that in today's technological world, the use of top flight software applications, automated trading algorithms, and technical analysis expertise is essential to successful trading in today's market. Whether you're looking at the trade matrix, the ETF heat grid, the market breadth, the landscape charts, or the many other features of the Taz Profile Scanner, this is a piece of software that will revolutionize how you look at the markets and set up your trades. The team at Taz has even put together a 12-part video series to walk you through every aspect of the Taz Profile Scanner, which you can find directly on the Taz order page at tfnn.com. Sign up now for only $97 a month with a risk-free 30-day trial so you have nothing to lose and everything to gain. See for yourself how you can harness the full power of the Taz Profile Scanner by visiting the front page of tfnn.com today, and you'll find the Taz Profile Scanner under the services section. Remember, with a 30-day money-back guarantee, you have nothing to lose. Don't let another day pass you by without trying out this amazing piece of software that will revolutionize how you look at the market and how you place trades. Sign up today. Many of our new listeners have heard about the Tiger's Den. The Tiger's Den is a lively community where professional traders and investors can meet, exchange ideas and information in a comfortable, moderated atmosphere. Hear all of the Tfnn shows, plus see all of the charts as they happen live and have access to archives of all of those charts. You can test drive the Tiger's Den absolutely free for 30 days and greatly enrich your knowledge of these markets and how to make your money work for you. Details on the Tiger's Den are on the front page of tfnn.com. Tfnn has launched our brand-new website. You can still visit us at the same tfnn.com URL, but when you do, you'll see a new and improved homepage with a much simpler navigation, whether you're watching Tiger TV live in high definition or just accessing your newsletter subscriptions. We even have new pricing in six months and yearly options. Check out the new tfnn.com now and experience all the upgrades, tfnn.com, educating investors. Call now toll free at 1-877-927-6648, internationally at 727-873-7618. So just to finish off natural gas just so you can see the chart, what I did during the break here was just to set up the labels, the labels meaning some of the patterns that you and I use. So it turns out that for the natural gas contract, the highest high, at least on the timeframe that we're looking at here, the daily timeframe, came on March the 19th out here. And if we just simply do our wave count from that point down, what we will see is that the actual law took place April 25th was with wave number seven, the Stevie Wonder singing in the key of G, courteous of Basil Jepman's Jepman wave tool box out here. Also you can see the prior day was a set up nine count. Now we know that that low can occur on bars eight, nine, or 10, the bar following nine and that did that. So the answer to your question, Michael, is that it's giving you a bottoming signal. And so price should go up and at least test that top of its weekly profile out there. Whether we get through it or not, I don't know. But thanks for writing in and asking. Hey, let's go to one of our favorite callers. It's Brent from Martinez, California. Brent, thanks for calling. Thanks for holding. How are you doing on your ears must have been buzzing. And I will tell you the reason why is because John, Mr. Z and the Tiger's Den asked the very specific question as I was coming on the air. And that question was, let me just make sure I get it here. It says, what did Brent buy at today's lows? Nothing today. That's what I've had for quite a while. In fact, I, well, first of all, thank you very much for taking the call. It was a pleasure talking with you. Likewise. The one I'm calling about, I talked to a baffle about it probably a month or so ago. I explained to him that around the beginning of the year I decided to come to an experiment. I was like trying these stuff and I decided to go look for stocks that were either a dollar or less, $5 or less, $10 or less. And this is one that was a dollar or less at the time. So I bought at 60 cents and I've taken some off along the way, but I just, my question about this particular one at the moment is that it seems to have, it was in a consolidation from probably about March to not too long ago, maybe a few days ago and got above that. That's what it looks like to me. And it seems to be above probably most, you know, market profiles that has won your opinion on it. Yeah. So the consolidation folks at Brent is really referring to, we can just simply draw it in out here. And the reason we can draw this in and why he's absolutely correct that it was a consolidation. We had a test out here, the March 21st high. There was some big volume behind that move of 8.4 million shares. And the next time Price got up there on April Fool's Day, April 1st, 1.4 million shares. In essence, that set up, we didn't know at the time, but in this case here it set up a move lower and the bottom of this consolidation, it was low on April 9th, 1.7 million shares, 4 million shares, testing that same area on April 11th, setting up that consolidation. Now the nice thing about a consolidation pattern folks is it provides you and I with a measured move breakout, breakout, breakdown, whichever way it decides to go. And in the case right now, the measured move would take you to about 395, give or take in today's highest 384. So we're not gonna worry too, you know, as the consolidation over or not would really be the question. And at this stage here, Price is above the weekly level, Brett, that was 295 above the monthly out here. And just simply from a wave count, let me do this here, and I'll pull the chart over. You are in wave number four and you know, Baz always gets a little concerned when something gets into that fourth wave. But I think there's other parameters associated with it. Interestingly enough, Brent, for you and I was on the trading day of March 21st when I had that big push higher with some volume, happened to be day eight of the nine count, which set up the actual move lower. Now, you know, I don't know how this works. Maybe you do, but the actual low when it finally did make this bottom out here at the bottom of the consolidation, April 12th, that was also a TD setup nine count. It was really bar number nine. And since then it has moved higher. Price is moving higher with less relative energy out there, but I don't see the reason to exit this trade. I don't see anything else that is out here. You know, if a bearish reversal candle formed, that would be a different story for that pattern that we just looked at. You know, so at the, so first, congrats on the trade or investment at this stage here. What is it that would, so at the beginning of the year, you were looking at these different stocks. This one met your qualifications out there. And now you've written it higher. Has your trading plan at all changed on this or what's the trading plan now that, you know, have you taken all your profits off and you've just, actually your profits, but you've taken all your capital out and now in essence, you've got a free trade. I don't know anything about this company, but any light you want to shed there? That's exactly what I've done. It's a free trade at this point. So I'm just going to keep following it up and I have a, it's more of a mental stop really. I can't be heard in a trade at this point. Sure, sure. Kind of a nice position to be in and so I'll just let it play out. Yeah, what do these guys do? Do you know what's the basic basis of the business behind it? I know the basic area that they're in and I think there might be something I'm not absolutely positive about but I'm pretty certain of it is that the basic business that they're in is replacement, like hip replacement, knee replacement, so joint replacement. And I believe they're using the 3D technology to elect the 3D printers to make the components themselves. I believe that's the case, but I know that the basic business itself is the joint replacement. Pretty amazing technology that's out there to extend our health or to allow us to do the fun things we want to do whether it's go hiking or golfing or what have you out there and it really makes sense to have a hip built that's specific for your body. I mean, technology is amazing out there. Hey look, absolutely a great trade and investment out there. Always good to hear from you and anything else that I can do for you. That's it, you just have a wonderful weekend and I'm not always doing stuff every day. I kind of gotten away from that a bit. I used to do a lot of day trading and I still do some, but to the extent I used to it's kind of unnecessary at this point and not that I'm bragging or anything. I just, it's more of a thing. Sounds like more fun to me getting that 60 cents and that's three eight. I still love trading and just been busy with other stuff and I kind of found a little easier on the stress level not having to do it every day and have a deal with that. Absolutely, absolutely. All right, and you have a good weekend as well. That was Brent in Martinez, California. The company there was Conformis, Inc. CFMS is the ticker symbol out there. Now Ruby and the Tiger's Den would like to take a look at sugar. So let's go do that for her before we go to the break and we'll try to do that. Where is it out here? The July contract I'm assuming is the active contract for sugar. We're just waiting for the daily timeframe chart here to populate which it just did. Let's try to enlarge in it. So here's what we know just simply about sugar, Ruby in just these next five or 10 seconds you've got a bullish structured daily profile that price is trading below. That level is 11.79 and it's below certainly the weekly profile out here. So we don't like the way that sugar is trading just simply from this chart and it would suggest that sugar, maybe it's completed in A to B equals CD to the downside. Let's see if I can give you that price area here. That's about the 11.33 range. Looks to me like that's where it's headed. Hope that helps you out, Ruby. With sweet sugar, I'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, which is how to time the markets. I'm Steve Rhodes, author of Mastering Probability and for the last 12 months, Timer Digest has been tracking my newsletter signals which have earned me the ranking as their number one market timer in the nation for the S&P 500 for the last 12, six and three 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. The path of least resistance is David White's daily trading newsletter and if you're looking for active trading ideas then now's a perfect time for a 30 day free trial to this powerful daily trading advisory service. David uses his years of trading experience to offer his subscribers his trading ideas each morning in his path of least resistance newsletter. Using a combination of equity trades along with options, David keeps his subscribers up to date with all pertinent market information with intraday afternoon updates when warranted. Don't miss out on this great chance to get a 30 day free trial to David's daily newsletter the path of least resistance with no obligation to pay anything. David has been delivering solid recommendations for his subscribers recently and if you'd like to see the type of newsletter he delivers every morning then visit the front page of TFNN and you'll find the path of least resistance under trading newsletters. For all the details and to start your 30 day free trial today log on to TFNN.com now. TFNN is excited about our new software charting program The Art of Timing the Trade Charts. 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 Charts allows you to scan thousands of stocks for Fibonacci formation setups including guardleafs, ABCs, butterflies and much more. 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 gonna 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. 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. Say something I noticed, Brent, hopefully you're still on and listening. And something I noticed during the break here was the monthly chart for CFMS, trade that Brent is in. And so the real next level of resistance to be watching for, to really give you a longer term, this is a monthly chart, a longer term change in trend signal, is going to be the high from the October of 2017. You see this little green horizontal line that's crossed there, that's set up by the TD set up nine counts, a resistance level. The beauty of it is that when you're inside a trade, you can identify levels of resistance that ordinarily would have been invisible to you unless you were utilizing this tool as one of the indicators. Now, the cool thing about it, what that green line means, and the color is just a choice that I made for green out there to be resistance and support to be red, but is the fact that you already know ahead of time where you're gonna see turbulence as if you were flying a plane out here. And certainly there's turbulence. The cool thing is is that when price closes above that, it tells you you really have some type of change in trend that would be underway. So Brent, you should be watching that area again, that price point, the high there was, I apologize, 417, I don't know what I said, but 417. But just look for that 2017, October 2017, little doji candle out there. That's gonna be a key level for you to be observing as confirmed, conformist continues to move up. Now, you didn't get to see it really work there. How do I know that it works here? I'll just pull over this chart. Let's take a look at the NQ and then we'll get to the markets out here. We haven't really even talked about the market. So we wanna do that and let you know what to be looking for as we come into the end of the day. But here's the same thing. So these tools were agnostic to timeframe. We could give a rat's patootie. Whatever a rat's patootie is, we really could give a rat's patootie about what the timeframe is behind the chart that we're using here because it works this way whether it's 30 minute, which is what this chart is or daily, weekly, monthly, or any kind of minute out there. And so the nine count and the more and more that I use it, the more and the more that I really recognize it, you know, if you listen to Tom, what you should and David and so forth, they are typically showing you breakout areas and they're looking at some volume and things of that sort, right? Or David's got his power law vector indicator and his other sector oscillators and things of that sort. Here's an easy tool for you to apply to your holdings or any chart because it's very easy to do the nine count and the nice thing is it sets up those support and resistance lines for you. And I would have no reason to have known if we take a look at yesterday's action out here, why is it that price stopped right in the foot tracks of where it did yesterday? Tested this level, well actually it was last night, it was at 20, 30, you know, all the way from 20, 30, all the way to 22, 30, 100 hours out here. And that is where resistance, you knew about resistance. Look, here's a bottoming signal and pattern out here. You've got, this is the, it's really referred to as the three river morning star, many of you know the morning star pattern. The morning star pattern is one of those that can actually form over a number of bars. And here was one of those. So this was the four river morning star. Actually the Dow when it bottomed was a morning star pattern, four or five morning star. Here's another one today, this morning out here that formed. It confirmed, you know, about 12, 30, so half an hour before we came on the air out here. So look, the resistance to area inside the NQ, as long as we have this chart, it still remains the same. It's still in the 76, 44-ish area out there. At this stage, is that where price is headed to? Maybe, there's nothing here to suggest that it's not headed up to that level. And if price does close over there, just like I was suggesting to Brent in ticker symbol CFMS, it would be a change in trend. Change in trend at least for that timeframe, but when changes in trend take place, they typically take place on the shorter term charts and then continue to go to the higher term timeframe, not term, but higher timeframe charts out there. And so, you know, if you take a look at the 120-minute timeframe chart, for example, inside of the NQ, what do you see here? You see a Rhodes momentum indicator signal move. This 120-minute timeframe does not complete. This is the NQ we're still looking at until 2 p.m., so we've got another, what, 25 minutes to go. We don't know what this candle's gonna look like if it is a bullish reversal signal, which looks like it may be. That gives you a confirmed bottom here, Rhodes momentum indicator bottom. But what you also know is we can see on its timeframe, you can see that resistance level, that resistance level, the price there, see if I can get that for us this time around, is gonna be 7650, even Steven. So it'd be another area to look at. It just depends on the timeframe, but remember we, well, we have a bottom signal on the 30-minute timeframe, by the way. I didn't mention that because we were just looking at more of a blank chart, but here is the NQ and the NQ completed an A to B equal CD to the downside. It actually was a butterfly by pattern. When it completed, let's see if I can draw that butterfly pattern in. Yeah, I can. I may not exactly get the swing points exact. We're not gonna, geez, Louise, let me try this again. Yeah, so, sorry about that. Should have gotten rid of that other pattern, but here's your butterfly. I've totally butchered that. Let me try to butcher it again, only in a better way. I actually draw the proper pattern out here. So we're just drawing the butterfly, for those of you that are new to that. This is an A to B equal CD, where that pattern exceeds, in essence, the X point, the beginning of that move here. So here you have basically close to 1.272 butterfly pattern. It was this bullish reversal set of candles out here, the Four River Morningstar that completed that pattern. You can see prices trading above that 30-minute top of its profile out there, which was 7527. That says price ought to be able to get back to that level we looked at on the 30-minute timeframe. So the 30 minutes got a bullish pattern. What's the 60-minute have on it? Does it have anything, doesn't have anything per se at this stage that the types of patterns that you and I look for? We covered the two-hour chart, the daily chart. If we look at this, one of the things that you know, and I know, is that yesterday was a hammer candle. A hammer candle was tested, it's held. That's a bullish signal. What I don't have out here is some type of pattern on the daily timeframe chart. So the only thing here that we can go to, okay, you got a hammer candle says you're defending the bottom out here, which it clearly has done thus far. I don't know what it's gonna do at the end of the day. And then from there, what I have to do is really just take a quick peek at the weekly. What's the weekly doing, right? So the hammer candle, the bottom is support. Well, the weekly shows that so far it's holding support too. There's Stevie's green line out there. We discussed this yesterday, how when that line turns from red to green, tells you at some point in time over the series, in this case here of candles, it took a couple of months, that we're gonna see price in that line catch up to each other. When it does, it'll reveal itself as to what its true intent is right now from a weekly timeframe. The true intent is a bullish intent. As long as price closes above Stevie's green line, that's around 75, 28 and some change out there as we speak right now. So that's what the NQ is doing. If we look at the ES mini, it's really doing the same things. When I say the same things, here's the daily timeframe. Makes that butterfly pattern. There's your A to B equals CD. There's your four river morning star pattern out here. It's coming up to a resistance zone, that little blue dashed line as we speak. But we'll say real resistance on this thing is that about 28, 85, 50. Butterfly pattern underway in the 30 minute timeframe chart. Now it's off 53, S&P down seven. Hey, that's Botball Tilden, it's getting back in line. What do you think of that? We'll be right back. If you're in the CD market and looking for a secure investment, the Tiger First Mortgage Program may work for you. The security for these first mortgages are building lots in the tax opportunity zone in St. Petersburg, Florida. The Tax Act of 2018 set up tax free zones across the country and build and hold for 10 years and pay no tax on the profits, which makes these lots valuable. The investment is anywhere from $30,000 to $75,000. The interest paid is 7% yearly paid on a monthly basis. According to bankrate.com, the best rate for a four-year CD in the country as of February 20th is 3.1%. A $50,000 investment at a normal four-year CD rate of 3.1% would give you income of 1,550 per year or 6,200 over the four-year period. That same $50,000 investment in the Tiger First Mortgage Program would give you 3,500 per year or 14,000 over the four years. What should you prefer? 6,200 or 14,000 of interest on your investment. If you'd like more information about the Tiger First Mortgage Program, you can call me at 877-518-9190. That's 877-518-9190. If you haven't checked out the newsletters page of TFNN.com, what are you waiting for? All of the TFNN newsletters are informative, up-to-date, affordable, and a must-have for every trader looking to gain a competitive informational edge in today's markets. TFNN newsletters cover every aspect of the markets to offer you the very latest in market news. Plus, new subscribers get to test drive our newsletters risk-free for 30 days. From all aspects of the markets, including stocks, bonds, metals, commodities and tech, there's a newsletter to fit your needs exclusively from TFNN. Stay informed each day you trade and get the competitive edge that will help you stay ahead of the game. Visit our newsletters page by going to TFNN.com and click the newsletters button near the top of the page. TFNN.com, educating investors. Biotech is booming, but for how long? Whether you think the Biotech bull has room to run or has run its course, trade LABU or LABD. Directions daily S&P Biotech three times bull and bear ETFs. Visit Direction Investments.com slash Biotech today. An investor should consider the investment objectives, risks, charges and expenses of the direction chairs carefully before investing. The prospectus and summary prospectus contain this and other information about direction shares. To obtain a prospectus or summary prospectus, please contact Direction Shares at 866-4767523. The prospectus or summary prospectus should be read carefully before investing. An investment in the funds is subject to risk including the possible loss of principal. The funds are designed to be utilized only by sophisticated investors such as traders and active investors. Distributor, four-side fund services, LLC. Don't forget, you can listen to TFNN live on your mobile device 24 hours per day. Go to TFNN.com and hit watch Tiger TV. That's TFNN.com and hit watch Tiger TV for the latest market information. 44 S&P down about seven. So we look at, as you know, I put more emphasis in the equity futures contract just simply because we've got more price discovery. That's what it's all about in the patterns that you and I use really require or are best suited for all that data. It doesn't mean they don't work on individual stocks. We prove that point all the time too. But those individual stocks don't really have the underlying need to trade 24-7 out there. But here's a picture of the Dow. So let's just take a look at the Dow cash. And you see, no idea where this is going to finish the day. What do we know by taking a look at the Dow? When we take a look at this chart, we know that the 2018 high of 26951 hasn't been hit yet and prices turned down since then. We know that prices trade above the 2018 close at 23333, that's important because that gives you a nice bullish message out here. We know just simple retracement, if the market's going to continue to barrel lower that the next level or the level, the first level of a price target would be about 24-792. But before it can get there, what it has to contend with is yesterday was a hammer candle for it too. I don't know whether today's candle will be a hammer candle or not. Needs a small body at the top, very little wick if any out there similar to what yesterday's candle session. You could have a double hammer, what does that mean? Nothing just means that clearly the bulls are telling you where they are trying to defend their position out there and that's really what you want to know. Now, the Dow itself does have a completed Gertley buy pattern. The Dow cash indices made a one to two, A to B equals CD pattern with that hammer candle out here. The reason why we called a Gertley buy pattern is because in this case here, is the first A to B equal CD to the downside since the December 26th level. So it really does say pay attention. And it really says pay attention because we know that usually the high in the indices in the so-called unfavorable seasonal cycle does not occur on May 1st. Now, at this stage here, that is the high that is in place is May 1st. Typically, it's a few weeks later. So to see a Gertley buy pattern and show up right now is not unusual and doesn't say that we're out of the unfavorable seasonal cycle out there. It just says this is actually typical. Now, I'm communicating that to everybody out there that it's just simply so enticed with the bearish message that's out here to maybe not be so enticed. You've got completed patterns. Watch today's candle session. We talked about the importance of paying attention to the spot volatility index in all of its forward futures contract. And I pleaded with you to recognize that this is unhealthy behavior that's gonna get healthy again and things will get back in line. And right now you can see that spot volatility index getting back in line as it should. It's now almost below all of the futures contracts, just needs another six pennies to do that. So that also now, what's really important about that. And again, this will be an end of day. I do not, I wish it were four o'clock and we just had 15 minutes and we could say here's what has occurred, but there's what to watch for out there. And that is, let's assume the market continues to rally, even closes in the green out here. You gotta gartly buy, you have a gartly buy, you have a gartly buy. The spot volatility is getting back in range out here. And here we were taking a look at the spot volatility compared to its one year counterpart indices out here. And once it gets above this level of one, that is where you start to look for bottoms. So the market is really screaming. Again, watch the end of day out here. And because I'm just trying to give you what the signals and the patterns are. And so there you go. So now you've got the cash indices. This is the S&P, by the way, that we're looking at, which does not have the A to B equals CD in it. So the cash indices doesn't. There's no real valid A to B equals C. I guess I could draw this one. I take that back. It does have one that we can draw, only I can't draw because I don't have a tool on here. But we took a look at that inside the ES mini. Or if we didn't, here's what that one looks like. And this was your Gartley by pattern as well. So the ES mini candle configuration looks different than the cash indices out here, but it had a hammer candle yesterday. That's the ES mini on a daily timeframe out here. So now where could it bounce to? Where we believe that a bounce would take place if that is a bottoming signal or where's the next resistance level? That's easy. It's easy for you and I to figure that out because we would just simply come back here, take a look at that ES mini, and we would just refresh ourselves with where is the bottom of that daily profile? And that is 2894. That's 2867 as we speak right now. So if the bottom signal as we are getting right now continues to play out, you should anticipate, you should expect that price is gonna at least bounce up to the bottom of that daily profile, 2894. And back above that, it's game on for the bulls. And really what I mean by that, it's just part of the normal seasonal pattern that is present out there, which is helpful for us to try to anticipate what the markets are doing and communicating to you. And how about that New York Stock Exchange? It actually has positive market breadth out there. I think we did pull that chart open out here. And we've talked about you and I, this minus 150 area yesterday, the reading the closing readers minus 144.69. Yes, this morning was much lower than that, but to get a turn up from here, also not unusual. That's the old bounce bottom level. And all you have to do is put this indicator on your screen and go take a look at those levels and let you know that certainly that is when it's time to start paying attention to the signals inside the market. Now we've got the Dow positive out here. So let me just check, see if there's any questions out here. I don't see any questions inside the Tiger's Den. Am I recommending that you not be short? The answer is yes. The charts are recommending that you not be short at this stage of the game out there. So no other questions that are in a minute here. What should we look at out here for a minute? Why don't we go look at Lightsweed crude? We haven't done that for a while. Let's go take a look at Lightsweed crude, see what we can see out here. Let's come back to the current contract for Lightsweed crude. That is June, I believe it's June out here. And so we did get a completion of an A to B equal CD to the downside, but I can't tell from this. Here was your key reversal session. Yeah, right here. When I say right here, I'm talking about May the 6th. So you got a completion of an A to B equal CD, which also is a currently by pattern. Now, what Lightsweed crude has, let's just get rid of the A to B equal CD just to open it up. And so this does have, it does have resistance right now. Well, let me pull over the data box easier for you to see as well. And so the resistance level that it's trying to get back above is the bottom of its weekly profile, 6208, it's at 6177 right now. A closing back above that would say to you and I, 6381, maybe 6547 would be in line for black gold, Texas tea, Lightsweed crude. Hope you're right. Since 1984, Basil Chapman has been using the Chapman wave methodology to advise traders of his expert market opinion. While originally hand drawing charts from the late 1970s into the 1980s, Basil noticed that prices under most circumstances virtually always had a certain number of legs to the upside before declining sharply. Later, Basil found that computer software which included the standard market technical indicators enhanced the degree of accuracy in calling price turns as well as market trend calls. Thus was born the Chapman wave sequence. Using the Chapman wave methodology along with other indicators, Basil Chapman advises his subscribers of his expert market opinion each market day with his opening call newsletter. Right now you can get a two week free trial to the opening call, Basil's daily trading newsletter by visiting the front page of TFNN.com. Cancel at any time during that trial and pay absolutely nothing. Get your two week free trial to Basil's newsletter, the opening call today by visiting TFNN.com. It's amazing to think that Tom O'Brien started his weekly gold report 17 years ago with the first issue published April 7th, 2002, when gold was trading at under $300 per ounce. Gold peaked at more than $1,900 in 2011 and after spending many years consolidating at lower prices, gold may be poised for its next big run. Tom O'Brien publishes his weekly gold report every Monday morning for subscribers consisting of coverage of the XAU, HUI, GDX, the Dollar, Bonds, South African Rand, as well as 25 different mining equities with specific buy, sell recommendations. As of April 1st of this year, the gold report currently has eight active positions with an average unrealized profit of almost 8% for each open trade. New subscribers get a 30 day money back guarantee so you have nothing to risk. For all the details and to start your gold report subscription today, visit the front page of TFNN.com. Don't let gold's next big run pass you by. Sign up today. You know what's cool? Taking something that's good for you. Something specifically formulated to help with weight loss, better sleep, stress reduction, and the need to detox. Nicar, hunter and gatherer ancestors found all their nutritional requirements for health in their wild environment. But today our food sources no longer contain the vitamins, minerals and nutrients our bodies need to stay healthy and strong. That's why we need primal edge daily nutrition. It includes a special blend of ionic, soil-based vitamins, minerals, fatty and amino acids in an easy to use liquid form. Primal edge is powered by highly concentrated folic and humic acids. Nature's preferred delivery system. They've been called miracle molecules because like sunlight, air and water, life cannot exist without them. That's right, Paige. They ensure we receive all the nutrition we need to be healthy and thrive. We take it every morning. Primal edge formulated and approved by Nico and Paige of living a primal lifestyle. Buy it today for just $89. Click on the primal edge banner on the front page of TFNN.com. This is David White. Stay tuned because coming up next is the power trading hour right here on TFNN. Hi, folks. So with the two minute wrap here, no questions that are in. I want everybody to have a great weekend out there. Watch the end of the day. We talked about the spot volatility index. Right now it's down even further. It is now below all of the futures contracts, which is good. Just needed that adjustment down. The thing is, watch the end of day reading here. Presently it's about a minus 12% one day rate of change out there. Oftentimes, the majority of the times when you get a one day rate of change of below minus 10%, so minus 10% or less, it marks a initiation move to higher price out there. So that combined with the, like even the Dow transports, as we speak right now, it's got a hammer candle. It's completing a potential girly by pattern. The only reason I say potentials, I don't know what the end of day candle is gonna be, but if this was the end of day, you can see the 1.272 A to B equals CD. This is the first A to B equals CD pattern since the lows on December 24th out there. So this suggests that the transports themselves are bottoming the semiconductor index. What is it doing? Let's go take a look at the stocks. Where is it? Here it is. It's off about $2, no big deal. Here I don't really have a bullish reversal signal. We've got an A to B equals CD to the downside. We don't have a bullish reversal candle out here. If we take a look at its A to B equals CD to the downside, it's already made the 1 to 1.618 or very close to it, but without a bullish reversal signal, whereas in the transports it'd be easy for me to tell you that's a bottoming pattern. I don't really have that here. I don't really, we don't have that here. Let me just be specific. And it doesn't mean it won't bounce or bottom. And at this date here, price should just come back to retest the 2018 high, a 1464.60 that is broken above. So folks, thanks for being here this week and have a safe and a great weekend. And we will look forward to seeing you on Magnificent to Marvelous. Got to come up with some other M as well. Monday, what just called Monday. Magnificent Marvelous Monday. So have a nice weekend. Take care.