 The following is a presentation of TFNN The Traders Edge with Steve Rhodes Toll free at 1-877-927-6648 or internationally at 727-873-7618 The Traders Edge Now Steve Rhodes Good morning folks. Welcome to the August 19th The Fantastic Friday edition of today's Traders Ed Show. I'm your host TV perseverance Rhodes Who absolutely knows that each of us should always be? pioneers of our future Versus prisoners of our past. Hope our winners having a great day. Hey, let's make sure we have an Extraordinary one and the easiest way to do that. Well, it's 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 Well, it means we can find the gift in every set of circumstances that life is gonna toss at us now today You and I we're gonna 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 had just Passed eight o'clock in the morning. That's right. If you listen at the normal time Which now is just past eleven o'clock will make today's show as pertin as we can Of course, if you are listening live, we would love to hear from you So he gives call at 877-927-6648 now if you can't call it you're listening between eight and nine You can always send me an email send that to Steve at tfnn.com and inside the subject heading if you'd be kind enough to put Radio show question of course inside our Tigers then well any in every ping will do so let's go ahead and get this show Started on fantastic Friday. Of course. This is Tiger Financial news network. I've Steve Rhodes. Welcome to the show right now I got all the u.s. Equity futures trading the downside Dow futures off 232 points about seven tenths percent about 1% for the Nasdaq That's 132 points nine tenths for the S&P 36 points a little over 1% for the Russell That's 22 points to the downside over nation last night a bit of a mixed bag the Shanghai the Nikke finishing lower The Nikke is in a large adb equal CD to the upside still looks like he wants to continue to move higher The hang saying was up by nine bucks over in Asia Asia in Australia It was a flat market for the Australian 200 over in Europe this morning We got a mixed bag there You got the DAX trading to the downside by 73 points the footsie to the upside by 17 points out there Gold is off six bucks Silver's down 30 pennies Platinum's off 10 bucks lights recruit trading out at 88 50 That's off a buck 60. You got natural gas pulling back It's back 15 cents this morning 904 9.01 is the print there 30 treasuries off 1.12 ticks She's trading at 130 902 So where do we begin? Let's begin by take the goes daily equity futures charts will go us which over to our screen here White background screen see what they're signaling to you and I so we begin with the daily charts We take a look at the ES mini what we can see here now one it has a confirmed sell the d-point pattern It confirmed that on Wednesday when it generated that bear sash candle now what price is doing is testing its green oscillator and change line That green oscillator change on is printed at 42 55 the price close below 42 55 today We're trading at 42 50 But close below 42 55 that the ES mini will have lost its bullish momentum trend that would then signal A move back to 41 77 now it is 8. It's it's not the easiest to see right here In fact, let me just do this. Let me do it. We'll switch back and forth that way it becomes easy. Well Let's do let me let me first let me first say this the ES mini is where we're going to we're going to Change over the ES mini the nq and the uh in the dow equity future contracts each have bearish Structured daily profiles and what that means is that? Typically if you get a close below the center of a bearish structured profile Price will gravitate down towards the bottom of that profile So in the case of the ES mini that would be 41 77 the center of its profile You can't really see it. It's at 42 63 the top You can see because you've got the number present 43 27 50 the bottom is easy to see 41 77 So really you got to watch that oscillator and change line at day's end again 42 55 is the print there now the nq is trading below its oscillator and change line again bearish structure daily profile there That suggests move back to 130 41 now what we're not looking at here Just yet are the intraday charts to see if there's any kind of a bottom signal So we'll do that here momentarily but first just trying to get the big picture The big picture for the dow is it's has not gotten its way is not made its way down to its oscillator and change line But it should that is currently printing at 33 33 652 So 33 652 is a level to watch the russell 2000 It also has a sell the d-point pattern that was formed on wednesday when it generated a bearish engulfing candle That day on wednesday and then yesterday were nothing more than bullish tests of that green oscillator and change line Now that is under attack right now the green oscillator and change line for the daily time frame is at 1989 They close below that is going to suggest to move just slightly lower And that would be the bottom of its profile, which is currently pricing at 1968 55 out there So that's the level to be watching inside the russell 2000 I guess I don't really need to change over to those other screens out there I think have kind of helped you to understand about the bearish Uh structured daily profiles and what they mean out there So what you gotta really take a look at each chart out here the dow Right now is stronger, but still trading with inside its bearish structured profile So we'll see what happens or we want to see what happens as price the dow That is test that green oscillator and change line So now let's go switch over and we've got a couple minutes here before we go to a break And let's go take a look at I want to take a look at the nq first So we'll take a look at the nq charts and here the shortest term time frame chart that I've got here Is a 30 minute time frame chart as we speak now What we can see is that the 60 minute chart has confirmed a rogment and indicator bottom It did that because once it came into the eight o'clock session you've had a little looks like a bearish bullish engulfing Let me see here I got a piercing candle didn't close above the open So you had a nice bullish piercing candle However, price is trading below the bottom of the profile The bottom trading below its red oscillator and change line And that's where price needs to overcome if there's going to be any kind of a rally Now we're talking about a rally on the 60 minute time frame chart So we're focused on its levels of support or resistance out here Support would be the low of the day because of that bullish piercing candle That low is at the 13, 358 and a quarter A close below that on a 60 minute basis says we're headed lower out here Resistance 13, 425 If price can close above that then you should see move to 13, 499 What happens if price we take out the lows where does that take us to Well the 120 minute chart formed bar number seven as we came into the eight o'clock session If we see a move lower here again just at least a piercer move lower Below the lows of the day so far the two hour chart is going to form bar number eight of a TD nine count Now unfortunately it's a two hour chart So that says by 10 o'clock but you really wouldn't you got to get bar number nine That says by noon out there and then you've got the bar following bar number nine So really wouldn't know till about two o'clock this afternoon Whether the whether a TD nine count pattern is setting up inside the NQ or not By noon you would have a good indication It's just that noon to noon the two o'clock bar where you could see price continue to move lower So you've got two potential bottoming patterns out here really only one right now You won't get to the to the two hour potential TD nine count unless you pierce below the lows of the morning out there The 240 minute chart suggests to move back to 13, 355 13, 335 and the five hour chart 13, 342 Those are the two levels of support there So if these fails what that's going to tell us is that price is really going to go target Or should go target the bottom of that daily profile and that level again is 13041 And that's what the charts for the NQ say We can continue doing this but I want to take a few questions We've got a few from David David wants to take a look at Kind of go Philp, COP, CMEX, CX and AMAT out there So we'll do that and get back to this break booming inflation We are purchasing powers eroded There's no better place to protect your harder and money than a gold This the gold's flagship asset is the Monk Todd gold project in the northern territory of Australia This is Australia's largest undeveloped gold project We are talking a world-class gold project in the tail one mining district This is a large-scale low-cost 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Tom O'Brien is here to help Tom O'Brien has been successfully trading markets for over 30 years A frequent contributor to TD Ameritrade Network and CNBC Tom O'Brien founded TFNN over 20 years ago to help educate investors just like you Tom's Daily Market Newsletter, Market Insights, is published every morning when the market's open To give you the competitive informational edge you need to succeed These newsletters are packed full of Tom's advanced technical analysis And are geared to deliver comprehensive strategies for a successful portfolio Get Tom O'Brien's newsletter, Market Insights today And try all of our products and newsletters 30 days risk-free With our money-back guarantee at TFNN.com TFNN Educating Investors 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 Selective stocks and commodities Subscribe to the opening call newsletter at TFNN.com 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 30 days of signing up TFNN.com Educating investors Toll free at 1-877-927-6648 Internationally at 727-873-7618 Back up folks, 818 in the morning We are recording today's show between 8 and 9 And you know, before we go over and take a look at the individual requests out there Let me just give you kind of an overview of what's going on in the markets out there So we took a look at the NQ out there If we take a look in the upper left-hand corner of this set of charts here There are nine panel market updates here You can see the ESMini You can see the center of that profile there We know that price just has then oscillated and changed line And then you get a close below that And you're below the center of that daily profile That's what brings that 4177 into play Now, Spotball Antonyx is still below its 50-day expense moving average And that's priced at 2368 We do have a little bit of a rising bottoms pattern out there So it does say be careful The NQ, you can see it's trading below the center of its daily profile That's at 13507 And that is suggest to move back to the 13041 level US dollar index is on a tear It's going to go target the top of its weekly profile That's at 10839 You close above that Then it has resistance at the recent high out here That was high from the trading session July 14th That would be at the 10914 You close above that and you're off to the races to the upside You've got gold pulling back It's below the bottom of its daily profile If this is just a counter trend move to the downside Gold should find support at 175750 That is the center of its bearish structured weekly profile When you close above a bearish structured weekly profile Which in this case your gold is done If it's only a counter trend move to back to the downside Price will find support at the center of that profile That's at 1757 level In the case of silver It's trading below the bottom of its daily profile And trading into a bowler structured weekly profile So the sport area for silver is between 1847 And 1893 Again 1847 to 1893 If we take a look at Lights We Crew, the October contract Really trading between trend line support And trend line resistance And with inside its daily profile Which ranges from 8625 at support or the bottom In 8977 as resistance up at the top If we take a look at natural gas Natural gas has resistance at that 956 level That was tested yesterday in the day before It's just consolidating with inside its daily profile Out here If price does close below 883 Then likely we would see it move back to 822 out there That's the bottom of the October contract for natural gas The 30 year treasury trading below the bottom of its daily profile Is trading below a TD9 count bottom pattern I believe that formed on August the 12th That low is 139.16 If you close below that we're at 138.30 That's going to suggest to move back to the bottom Of its weekly profile That's at 135.26 So at least this way That's a good overview of many of the markets that you You know that that folks are interested in And now let's go take a look at those specific requests We've got the request that have come in Both from Hector and from David So let's go to David's request first He was the first that was in the queue And we'll change screens out here So give me a moment We're going to go take a look at ConocoPhillips So the questions are from David Happy Friday Happy Friday to you Please take a look at the oil contract We'll do that And ConocoPhillips I'm looking for a buy point in ConocoPhillips Okay So ConocoPhillips yesterday formed bar number 8 Of a TD9 count This morning right now As of 8.21 in the morning ConocoPhillips is trading out At the last trade fired off of 102.50 102.89, 103.18 So this is the last three trades out there Now that is still above Well, the last trade that fired off Is actually back below The top of the daily profile So a TD9 count top David will form today If ConocoPhillips closes above Closes above 100.77 If it does that Then what we're looking at Is price pulling back to its oscillator And chains on Which changed colors about three or four days ago It could do that test today So 9807 would be one area to consider For a long position in ConocoPhillips Another area would be the center Or the bottom of its daily profile That's at 95.48 or 90.99 out there If we look at the weekly timeframe chart A close today above 101.19 Is going to suggest a run back Towards its recent highs out there But you still got the TD9 count pattern To deal with inside of ConocoPhillips today But it depends upon its close So really with regard to ConocoPhillips I know you're looking for a buy point I really think you got to see Or I would need to see How does today play out? Does it confirm or does it negate? Does it just simply get rid of the TD9 count pattern Because price closes below the close of bar number five And I don't know the answer to that We do know that it's pulling back And it's trading lower We know like Recruit is trading lower We're going to go take a look at that for you Had that request out there Monthly chart still looks pretty much neutral It's got the TD9 count top At prices above Its green oscillator and chains on Consolidating with inside its monthly profile So the next resistance level to the upside Is the top of that monthly profile And that's at $1,1248 And that's as long as price remains above $101.19 So with regard to ConocoPhillips If you were to ask me today Twist my arm and say where is the buy point Or right now it would have to be $9807 That is the daily green oscillator and change line You also said please go take a look at LightSuite crude So let's go take a look at LightSuite crude We'll look at the eight panel Multi-time frame chart out here We begin with the daily chart So the daily chart shows that price is just simply Trading with inside It's a daily profile It still has a buy the D point pattern If we take a look at the October contract I think I'm just noticing this There was a nice bullish engulfing candle That formed on July 15th A bullish engulfing candle Says that the support level will be the low Of all the candles it engulfs Well the only candle that it really engulfed Well the candle that it engulfed out here That's of importance was July 14th That July 14th low That's a key area to be watching is $8607 Price has not been able to close below that level Price did close below that level David that says that LightSuite crude heads lower out there So you still have the buy the D point pattern With price consolidating with inside it's daily profile As long as $80... I've already given you the parameters for that The resistance level to the upside is at $94.27 If we look at a five hour time frame chart What do we have out here I don't have anything much Anything much Man you just got to love the early morning grammar school Out here Price has pulled back and is testing the level of sport And that is its oscillator and change line And price closed below that level I know what is that level I've got to just zoom in on it It's $88.31 Then you're looking at a move back to $86.37 Or $85.48 If you look at LightSuite crude For its 240 minute chart Again price testing support That's the bottom of its profile $88.08 So that's $88.08 right now Is a key level for you to be watching or observing No bottoming pattern on the 120 minute chart A TD9 count bottom that has formed On the 60 minute chart out there That will remain in effect Unless price closes below the level of $88.18 And you had $88.08 on that 240 minute chart out there So you like that as a key level To be watching and observing You can see the ultra intraday charts out there 15 minute and 10 minute Do have some bottoming patterns Out the road's been communicating Bottoming patterns But no levels of resistance Or key levels of resistance have been taken out So overall what do we have for the guard to LightSuite crude Right now I just come back and say We've got that bottom that still is in place And just a consolidation That really is running between about $87.43 And $94.27 Now you had a couple of other requests out there One was for CMEX CX is the ticker symbol out there So let's go back to our three panel chart out here This will take just a moment To go ahead and populate Well that's populating Let me see what CX is doing here in the pre-market It closed yesterday at $4.38 Straight at $4.32 right now And at the top of its daily profile David is $4.23 If we get back from this break We'll finish looking at CMEX And then move over to AMAT And then the XLE for Hector and Patty 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456 today That suggests okay just have a consolidation Potentially with inside that profile And price could get back to 382 Now price is above the top of the daily profile That's at 423 If price closed below that You're looking for an entry point Then the entry point is really between 399 And 405 out there Now the confirmation of price pulling back To that level today David would be watching the 30-minute timeframe chart Which has a valid TD9 count bottom pattern out there And if price closes below the bottom of that pattern That would be 435 That's going to suggest lower price out there So you get below 435 Where does that take us to? Well you still have 423 to deal with That's the top of the daily profile So right now your entry points Are 399, 405, and 423 Inside of CBEX You also want to take a look at American Tower AMAT out here So let's go take a look at it See what it is doing I believe you're looking for an entry point Here as well Applied, I'm sorry applied materials Buy point on CBEX and applied materials So with regard to applied materials out here Price is consolidating with inside its daily profile Let me look at the monthly first So the monthly It's not like there's an A to B equal CD to the downside You've got wave number 7 That's letter G So you do have a confirmed bottom on the weekly Price is above the top of its profile It's been above it for now 4 consecutive weeks out there So that says breakout So you're looking for an entry point here And I would say with regard to applied materials Let me see where it's trading right now In the pre-market AMAT And it's trading at 109 So it's still with inside the daily profile So the bottom of that profile Which was tested yesterday and held Was the 104.77 level So 104.77 would be your entry point for Applied materials So David, thanks so much for writing in so early And I hope that helps you out And have a fantastic Friday And a fantastic weekend out there Next question coming in from Hector And Hector wanted to take a look at the XLE So let me actually read his question out here Happy early bird fabulous Friday Night High school football opener on up That is a beautiful thing Youngest is a senior Now that's very cool Gotta love that So congrats And hopefully it's a great game The XLE please resistance support And the oscillator and change line out there And so let's go take a look at it So with regard to the support levels Oscillator and change line in the daily time frame 7609 That's a level of support The first level of support though would be 7787 7787 is the top of its daily profile And that price had closed above yesterday Below 7609 And price right now is trading at 7853 So it's still above the top of that daily profile But below the oscillator and change line You're looking at 7391 to 7232 Monthly time frame chart Still has a TD 9 count top With price consolidating with inside its profile And above its green oscillator and change line The monthly time frame chart is neutral The weekly time frame chart price is trying to close Above the top of its weekly profile The top of the weekly profile For the XLE is 7940 If price can close above that this week It really needs two consecutive closes That would then suggest a run back to its recent highs out there And in the case of the daily time frame chart As long as price really remains above 7787 The signal is it wants to complete that A to B equal CD pattern I just have the CDD leg drawn in And that gives you a price projection area of about 8392 Don't quote me right to the penny out there But that's what it signals So is the XLE still bullish? The answer is yes Curious did the XLE take out its swing point yesterday With volume So I just want to take a look at that Another swing point Or the swing point that would generate that A to B equal CD Well, it's generated whether it was with volume or not Out here as long as price remains above that 7787 area So the volume on that swing point from July 29th Was 25 million yesterday was 23.4 So not bad Not didn't exceed it But considering it's summertime I'd have to say Hector and Patty That is not bad So congrats on your son's Friday night football Those are some of the best of days out there Those days are long gone Not until my grandson's get to that age But that's going to be a while out there So let's go to our next request The next request is coming from SNP Inside the Tiger's Den Let's take a look at LABD That is a triple isn't it? LABD Is that a triple out there? Direction share Biotech bear So that is for the SNP Which I believe is the thanks is What is it? Is it the XBI? Is that the SNP or is that the NASDAQ? I think the XBI is the SNP Okay, so we'll do the LABD But really I want to go take a look at Go take a look at the XBI as well So with regard to LABD You've got a roadsman to Mindicator bottom On the daily timeframe That was confirmed on the trading day of August 16th Prices within sight It's a bullish structure daily profile Price closed just above the center yesterday The center of that profile is $18.79 If price stays above that $18.79 level What it's suggesting SNP is around $22.85 On the weekly timeframe We do not have any kind of a bottom pattern out there And the monthly because it's a triple We really can't look at it So now let's go switch over And take a look at XBI And see what kind of signals we have from it So when you're trading the triples Really best to take a look at the individual Or the one-to-one out here So now we take a look at XBI Well, wait, hold on LABD was the that was the short Or the long LABD is the Is the is the short All right LABD is the Yeah, okay Yes, short. Thank you It just says it's it's it's Friday morning It's 837, you know senior moments and so forth So we take a look at XBI What this is suggesting to us Is that with price below the It's also during change line And let me change over to my other charts It's going to be easier for Stevie's eyes to read Trying to find where it's the top of that profile out here So the top of the profile Well, the top of the profile is at $83.63 And both the bottom of the center Are at the same level of $80.36 So it does look like what XBI wants to do This is supporting what we just took a look at With regard to the LABD Is XBI wants to go target support Which would be $83.63 out there You've got a weekly TD9 count pattern That is going to complete today Or form today So long as price closes above And this seems likely But as long as price closes above $80.68 So you're going to have a weekly topping signal And a price then can close below $86.41 So that's really a level to be watching That's the top of the weekly profile If you get below $86.41 Then you're looking at $83.63 to $80.36 out there You do have a weekly buy the D point pattern So the short side may be short lived out there So watch $86.41 first And then below that watch $83.63 So I hope that helps you out S&P inside the Tiger's Den We get back to this break We're going to go take a look at ticker symbol S-L-V-O And this is for Frank inside our Tiger's Den Zero's with TFN Hope you're right 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 Selective stocks and commodities Subscribe to the Opening Call Newsletter at TFNN.com 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 and 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 30 days of signing up TFNN.com Educating investors China A shares in either direction Visit Direction Investments.com today An investor should consider the investment objectives, risks, charges, and expenses of the direction shares carefully 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on TFNN's YouTube channel and become the investor you were born to be TFNN Educating Investors This program is brought to you by Vista Gold Traded on the NYSE American and TSX under the symbol VGZ We'll take a look at SLVO SLVO is the Credit Suisse NASA Tracker zero whatever that is out there and right now what it did yesterday is a close below the bottom of its bull structure daily profile 404 trading right now in the pre-market at 395 now price is pulling back into this gap out here Frank that gap had volume to the upside that's on July 28th of 390,000 contracts or shares I should say and yesterday was pulling back with 156,000 but still trading so the gap out here the low of that session that's what you're watching for is 399 near 395 in the pre-market if price closed below 399 odds would favor that price will go fill the gap and that means that price would get down to the to the area about 391 out there now I'd say another confirmation of that if you see the weekly chart price is pulled back and it's testing that oscillator and change line which looks like that is printing at $4 even Steven so another area of potential support for you is between 383 and 392 bull structured weekly profile and we said the top of that gap was at 391 so I'd say odds favor right now that price is going to pull back there and should find support again in that 383 to 392 level out there so I hope that helps you out Frank or gives you the information that you were looking for I don't believe there are any other requests inside of the Tigers down out there but if you would like me to look at something there's nothing I've got by email at this moment please go ahead and just simply type that in and Stevie here will be happy to get to it in the meantime we'll go take a look at let's go back to look at let me see what's going on in the equity markets here so down about 210, 220 now inside the Dow so let's go back and take a look at we looked at the NQ let's go look at the ES mini out here again just trying to get a feel for first if there's any kind of bottoming signal so on the intraday charts now the intraday that is the shortest intraday chart that I've got here is a 30-minute time frame so what do we know again looking at the ES mini let's start with the 30-minute out here the 30-minute has what certainly there's an A to B equal CD to the downside that I see you did get your bullish reversal candle and so now what price is doing it's dealing with that oscillator and change line and that level is at 42.51 your price closes by 42.51 this is the ES mini then price should run to 42.57 if price closes by 42.57 then price should run to 42.68 that's coming from the 30-minute time frame chart the 60-minute chart out here shows us what shows us not much so no bottom out I would take that back clear there is a there is an A to B equal CD pattern that has formed you got your bullish piercing candle that is suggesting run to 42.59 so the confirmation of that would really come from the 30-minute chart with price closing above its oscillator and change on a 42.51 so I'd say a price close above that 42.51 the run to 42.59 42.57 is where price would likely head to if we look at the if the lows get taken out so let's talk about if the lows get taken out of this morning then the next area where price is likely going to head to is 42.11 the 42.11 is the breakout support for the two hour time frame so right now that's what's going on inside of the ES mini out here we've got Brent in Martinez, California that's on the phone Brent thanks for calling thanks for holding and good early morning to you good morning Steve how are you I'm doing just fine thanks much for getting up early and joining us and how are you I'm doing great how are you good good good okay so we got the how are yous out of the out of the equation out there and you want to take a look at the SQQQ that's the short right for the Nasdaq yeah I took a short trade getting towards the end of the close yesterday okay so I bought into this with some calls that they're actually expiring today so my plan is just to sell them when the market opens but I didn't catch the first half of the show so I've kind of you probably talked about the you know the keys and different levels to be looking at but I just uh do you see any reason not to just make that move kind of first thing if the market opens okay so let's do this here yes we've talked about the NQs out there but happy to do that again and what I'm going to do here is I'm putting up really my ultra short-term charts so the longest time frame that we're looking at here is the daily and so let's just simply start by as soon as this gets populated here we'll start with the ultra short-term which is a 10 minute then 15 minute then we go to the 30 so with regard to a 10 minute time frame chart out there you do have a bullish piercing candle that formed a rogement and indicator bottom the resistance level out here the first resistance level is $13,396 if price closes above that you're looking at $13,409 if price close above that then it's the top of the profile $13,421 so the 10 minute chart says you would go ahead and jettison that position if price closed above $13,421 because that would for at least that time frame suggest a change in trend the 15 minute chart which also has a confirmed rogement and indicator bottom has resistance this is a resistant zone because of bear structure profile for that time frame Brett and that says that a price were to close above $13,406 $13,405,75 to be exact out there then that's going to suggest that a move would that price would move higher now we know that $13,421 is the resistance level on the 10 minute chart out there but you could say a close above $13,405 would be a signal from a 15 minute time frame chart to go ahead and close out the short on the 30 minute time frame chart what we have out here is nothing we have the potential of a buy the d-point pattern it depends where price closes at 9 a.m. right now you've got a bullish piercing candle but really on the 30 minute chart out there all you really have to watch for is the oscillator and change line which is something I know that you do watch if price were to close above that that's at $13,390 Brent then that could be a signal that okay time to jettison that short position that would be an early call out there because that would but but if we look at that oscillator and change line you can see that this is held as resistance since about on August the 18th that would be yesterday since about 1830 so what is that 630 in the well so yeah that's 630 in the evening out there so close above that could be suggesting a change in trend the 60 minute chart would say you've got to close above $13,425 to give you a change in trend no there's a lot of figures that have been thrown out there your question specifically was is there any reason your question was what is there any reason to not sell at the open right yeah exactly yeah um it's a call position out there you know I'd I would so here's what I here's what I would here's what I would also say the NASDAQ and the DAX tend to follow each other and the DAX is trading lower by about 70 points today it's kind of an indication that we should see the NQ close lower out here and I'd like to see the NQ at least close above 13,390 or so about 13,390 before I would jettison that position and that's just looking at that 30 minute chart and at oscillator and change line does that make sense yeah it does very much seriously yeah I mean there could be higher levels out there but you know the the thing that I'll throw out is so the NQ what you didn't hear about the NQ is that price is trading right now below the center of its profile and the center of that profile is a 13,507 it's a bearish structured profile but you've got expiration today so this may not really come into play today but typically just share this again with you when you close below the center of a bearish structured profile price will usually gravitate down to 13041 so even if it doesn't do that today but you do close below the 13,507 level we're likely going to see a move back to that area hey Brett we're going to a break here you are welcome to hold on through that break and come back with any other follow-up questions if not have a fantastic weekend Steve Rhodes with TFNN we'll be right back if you want to take advantage of this sector now is the time to subscribe to my gold report the gold report is a comprehensive look at the metal sector as well as the markets that move gold which is the currency and bond markets new subscribers get a 30-day money back guarantee so you have nothing to lose every Monday morning I publish the gold report with coverage of gold silver bonds DXAU, HUI, GDX as well as more than 30 different mining equities to see for yourself the types of profitable trades that are recommended within the gold report sign up now by visiting TFNN.com don't 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what additional follow-up questions can I help you with I think I'm just gonna sell the thing out Steve I mean I was able to get them at a since they only had the day left yes I only paid 35 cents a contract and I'm looking at where it's trading now I'll be able to have a double without you know it's not pretty certain of that and so there's no reason to not just take that trade and you know enjoy the weekend that point absolutely no absolutely so what plans do you have for the weekend well my son uh youngest son the one I told you about the last time I talked to you one that's kind of the bold the bold one is uh he's moving up further north his girlfriend seemed to be fiance is she got her job at a hospital up there and and I'm sure you know we're ready and is that sure congrats on the report of the state yeah yeah and uh anyway so he's moving up there with her they were in Chico and now they're moving up to there she got the job up there and so that's the plan so I'm not trying to go help him do that my oldest son is going to do the same so that's okay yeah other things that are more fun than that but I think it'd be great to help him out and that's not the easiest thing to do so no absolutely absolutely and I've seen a bunch of pictures of different uh uh you know uh parents helping their kids move into college this weekend too so I know that's going on across the board those are always fun things and it's great to help your kids you know move on to that the next chapter out there just be careful the back out there so yeah well I helped him move into that place at least this time I'm going downstairs not upstairs so okay good okay okay that's great that's great well congrats on that Brent and and on the trade as well and always good to hear from you so have a great weekend and we look forward to seeing you hopefully speaking to you again next week all right do the same Steve thank you so much in this you know take care have a great weekend you bet you bet so folks to kind of summarize it here uh you know you've got equity futures trading lower watch the center of those profile levels out there and just have a stay tuned here all day long at tf&n so have a fantastic Friday a fantastic weekend we'll see you on Monday 11 o'clock sharp take care be safe out there