 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. Sorry about the technical issues, but hopefully those have been resolved And so let's get to the market serve right now You can see you got all the u.s. Indices trading to the downside dows off 590 s and peas off 93 Nasdaq 100 John 359 That's 2.6 percent the big percentage loser is the semi zero three and a half percent 115 points You've got gold trading up 28 bucks 1994 is the print there silver's off seven cents lights we crude is up $5 and 54 cents She's trading at a 121 23 so just to you know kind of an overview I think of where the markets are at let's just start by taking a look at the index ETFs out here So everybody can do this if you got some charting software out here I'm just taking a look at the spies upper left the cues upper right the Dow diamonds in the lower right and the Dow The Russell 2000 in the lower right out here And what we can see here is that each of them are trading back into their swing points Other swing points from February the 24th now in the case of the spies you upper left hand panel If it closes today below 428 76 Even though it will be on light volume. So so far we are what four hours into trading Four hours into trading and you've done 68 million shares versus that swing point as volume of 213 million shares When you close inside a swing point with light volume You may or may not go test the bottom of that swing point when you test inside a swing point with volume It gives you a higher probability that you'll do that So at this stage here what we have is the only thing I can come up with it Well, what well, I guess there's one other thing I maybe I can come up with if you give me a moment here maybe I can do this just See if I can add the profiles quickly. I don't know Yeah, let's see here. So as we take a look at the spies now, okay, well here So this helps us. So now we take a look at the spy. So we know that we're pulling back with light volumes I'm just pulling this over to the left and what it's pulling back into is actually the bottom of its bullish structured profile So that level is 421 86 the low today so far is 422 04 So here's what you can do or here's what you should do if you see a close blow 421 86 Then I think the probabilities increase that price is going to go test that 410 64 level if support holds it on light Their volume well that we could just see then then then you then you have but not that you've got a bottom But you got a key level of support that will have held Let's do the same thing here for the cues see if they're doing anything similar So we're going to turn on their market profiles as well And in their case we can see that the cues are actually testing also a bullish structured profile It prices to it's just below the bottom of the profile. So bottom of the cue profile to cue cue is 329 91 we're trading at 329 11 right now So it's really testing that level on light volume the volume here in the cue so far with four hours of trading 53 million versus 130 million So if if price close below the bottom of the profile because it's bullish in structure Likely sets up that chance of price going and testing may be busting out but at least testing 318 26 let's do the same thing here with the Dow diamonds. So this helpful to us if we take a look at the Dow diamonds We can see that it too is test its bullish structured profile Price is trading just below the support level the support level here write this down 3311 We're trading right now at 330 48 So price close the day below 331 11 it will be on lighter volume the volume on that swing point is 14.1 million shares today's volume so far is 3.3 point 3.3 million shares but a close below again 3311 likely sets up a move to at least 322 69 area So let's finish this off by looking at the Russell 2000 Give me a moment here We'll get that populated and the Russell 2000 its support area from a profile standpoint now This is a bearish structured profile and that says the level of support to be watching would be 193 93 now The volume on that swing point is 52 million shares We're pulling back so far today on 23 million shares We're already four hours of elapsed inside the trading session so definitely volume But you want to use those swing point not the swing point though the bottom of those profile levels as your guide as to What the intent of price is doing because if if support holds Then it's not a certainty just yet that price is going to go down and test out those swing points So that's what we have we take a look at those swing points if you take a look at the indices out here Which I can't apply profiles to let's get this screen populated or try to Here we take a look at the indices near prolapse. You've got the Dow You can see it's trading inside that February 24 swing point So too is the S&P which opens up the door to test the bottom. That would be the 32 272 the 41 114 in the S&P and a NASDAQ 100 will be 13065 But let's keep in mind the support levels on those index ETFs as well now the semis They're having the worst day and the semis right now are trading below while they're trading But the swing point is really still from January the 28th Because on the 24th price never got down to totally test that swing point from January 28th out there So really it is that January 28th level that you're watching a close below 31 47 48 We're trading below that right now. We're 31 40. That's going to suggest lower price now The question is question that is what are the SMH is doing from a volume standpoint? So let's get over to our three time frame charts out here SMH and Get a get a moment for this to pop out. Okay, so the So that's interesting. Okay, so because of dividends and everything so the SMH is have a slightly different swing point In fact, well, they have the swing point out here is being February 24th versus the January 28th level Let's just do it like this January the 28th the volume there was 10 million 11 million shares We're only at 4.6. So that's light volume and volume here on the January on the February 24th Was 11 million shares as well. So you got a light volume test but still close and below those areas Suggest lower price now you'd say lower price to where that's a great question. I hope everybody can see the SMH Charts out here. I don't know if you can or not just getting used to this system out here But the so the next level so we can see on a monthly time frame here Is that the price is right at the point of control the center of its bullish structured monthly profile now on a monthly basis In or did this is where buyers and sellers believe there's fair value the fair value is between 234 31 and 264 the stream has ended. Wow, okay Let's try this again share screen screen Okay screen to go live, okay, hopefully you've got that back and And Yes, okay, great. So so right now you can see that on month So the next downside target would have to be 234 31 That is the bottom of the monthly bullish structured profile So that's the SMH is out there and we probably get a decent message for it regarding what the rest of the markets are Going to do as to the SMH is so if price holds and closes back above the support level Well for the SMH is I would say that's so the the safe the safe level would be a close above the low from January 28th And that's at 249 36 so pricing close above that then what you're going to have is rejection of a swing point on lighter volume That may just suggest a bounce up to the 260 level out here But what we can say at least at this stage at 1 30 7 the afternoon as we took a look at the index ETS as we take Look at the the ETF for the industry that's performing the worst. It's still on light volume Okay, so where do we go to next out here? Where do we go to next out here, let's go take a look at go I tell you what I'm gonna go take a good goal to real quickly There are a couple requests that came in so I want to be able to get to those we take a little bit Goldilocks is doing try to get this populated So here gold is really taking on a key weekly swing point And that's the upper right-hand chart and the swing point was from the time period the week that began November 9 2020 a Close today certainly close on Friday above 1987 80. That's going to suggest a move much higher that move much. Well Yeah, that's going to suggest to move back to its all-time highs So that's really the the last resistance level that I see at this point in time when it comes to the gold contract So it's a 1987 80 level trade in 1997 40 Steve Rhodes would see up and then we'll be right back Are you in the market for buying or selling real estate in the Bay area including the surrounding St. Petersburg Tampa and Clearwater markets Tiger real estate LLC is a firm that has extensive Experience in the Tampa Bay area whether you're looking to sell your current property for maximum value Or you're in the market for a second home or investment property Tiger Realty has the experience across all areas of real estate in the Tampa Bay area to help buyers and sellers make the most informed Decisions across all price levels from the price You should be paying per square foot in certain up-and-coming areas to the type of cash flow investment properties are capable of creating Tiger real estate can help you make the best decision when it comes to all areas of the market before you make one of the Biggest decisions of your financial future called Tiger real estate LLC today at 727-329-8322 or email us at tiger at tfnn.com That's 727-329-8322 call us today The technology around us is changing every day with so much happening that can seem impossible to keep up with all the information David White's investment newsletter the technology insider is designed to give you all the information you need to understand the technology That shapes today's markets and tomorrow's future David White has made his living staying on the cutting edge of technology His weekly newsletter will give you specific recommendations for value tech stocks as well as entry prices Target prices and stops to set for each day Dave delivers his weekly newsletters every Friday with updates throughout the week You can get the technology insider at tfnn.com for only $37 and 50 cents Sign up for David's newsletter the technology insider and get an inside look at everything the technology sector has to offer Try it risk-free today with our 30-day money-back guarantee Tfnn 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 comm slash Biotech today an investor should consider the investment objectives risks charges and expenses of the direction shares 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 866-476-7523 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 Come and hit watch Tiger TV Welcome back up folks. Let's go to our first question out here This is from Michael P. He wants to take a look at two different instruments Rivian our IV n is the first one and Moderna He's got some puts in this and his question is where our worst price headed to so in the case of Rivian You're at a new all-time low out here So we don't have a lot of data to be able to identify So there's no profiles or anything to assist us with where price might be going Really not an A to B equal CD I mean there's a number of them here But what what I've done here Mike just to give you a feel for where price might be headed to is I'm just looking at the expansion of the last set of swing points in the daily time frame That means I'm using the low from January 28th That's at $50 even Steven and then I'm using the high from February the 1st And that's out at the 7146 level if we take the Fibonacci expansion of that There's two expansion levels. I'd be looking at the 1.272 that gets us to 44 16 Price so far today has gotten down to 44 45. So that is your first price target The next price target that would be if price closed below 44 16 Mike. I'm not saying that has to do that today I'm saying that a close below that in fact until there's a bullish reversal candle our Assumptions would be that price would go to the next level that next level would be 36 74 That's what you're looking for to get down to the 40 level So I'd be watching 44 16 out here And if you get a close below that it opens up the idea that it should get down into the 36 74 The second request was to take a look at Moderna MRNA is the ticker symbol. So let's let this thing get populated and in the case of Moderna It is trading below right now the bottom of its bullish structure slightly bullish structure daily profile That was at 136 55 it's trading below and it has been trading below for the last month the bottom of its Weekly profile now you only see two lines on the weekly profile That's because in this instance the center is located right where the bottom of that profile is now That's really important because you know that you had all kinds of buyers lined up there. That's at 156 48 Once price broke through that four weeks ago What we can see is old support became resistance Last week the week before price got up there rejected that level So that says lower price the problem is that when we come here we take like a moderna on a monthly basis It closed last month below the bottom of its profile. It too had a double a doubly G that means it just simply had both the center and the bottom were at the same level That's at this 155 36 level. So it's headed lower. So the question is there any other patterns out here? So let's pull over the white background charts to assist us try to assist us at least and on a daily basis What you'd be looking for here Mike is if you did generate if this did generate a bullish reversal candle That would give you an indication that price should go back up and perhaps test the bottom of that daily profile 136 55 above that 144 20 above that 154 20 which has really been the resistance top of that profile But if we don't get a bullish reversal candle price should continue to head lower I don't really have a price target per se, but let's look at the weekly chart See if there's any breakout levels. Well, yeah price actually moderna is headed much lower Or this is what the chart would communicate to you and I why is that stevo? Because this formed a td9 count bottom on february the week of february 25th And price right now is trading below that so look it's only monday, but a close below the bottom of that Of that td9 count pattern that is 134 even steven We're at 130 then what that does might get suggested over ton this weekly chart Their price would get back to the 18 30 level two targeted So it has blown through or appears to be blowing through a weekly td9 count bottom Of course, we won't know the answer to that question until friday But right now we go with the information that we've got and even on the monthly chart This suggests that price could pull back to 13 53 So here's how I could summarize it for you We do not have any kind of a bottom signal with regard to moderna on the daily time frame And this suggests that it will head lower. So thanks so much for being patient and waiting I do hope that helps you out. Thanks. Let's say some thanks so much for writing in the next question Coming in from hector and hector and patty hector's messages say XOM and cbx are these valid a to b equals cd up on a yearly basis On a yearly base years in 2002 and 2003 As a swing point. Well, let me uh, let's do this here. Let's pull over x on mobile So you want to take a look at x on mobile and cbx. So here we're going to look at the yearly chart I'll pull up the yearly for x on mobile and you want to go back to 2002 2003 Well, the answer to your question is even if you were to use that I'll draw an arrow to where it is that hector and patty are looking at they should be looking at at this level right here Let me get my cursor out here And that would be let me make sure that we're all looking at the same thing out here. And yeah, that's the 2002 Now hector there's no way to To know if this is an a to b equals cd on a yearly base because price would have to take out the swing point And that's really the area that we would want to focus on the swing point here is the all-time high from 2014 So even though you might want to use that as a a point for a yearly a to b equals cd Uh, I can't say where this is going to turn into one or not And I don't really need to what I can share with you is on a yearly basis with regard to profile levels $95 even steven is the place where you could find some yearly resistance On a back to the yearly chart now. We're trading well above last year's high So this is a very bullish Instrument you already know that you didn't need me to tell you that on a monthly time frame here for xn mobile You're only in bar number seven This suggests that this is going to target 100.43 the weekly time frame chart now You can find a to b equals cd patterns on these other Timeframes weekly, but that wasn't really what your question was on a weekly basis As long as price closed above last week's high last week's high was a td9 count Then you've got higher price coming at you So any closed this week above 84 28 says you have a strong moment to move to the upside the daily time frame You're in bar number seven This does say that you could get a short term top between tomorrow tuesday and thursday Should the td9 count pattern develop so in the case of x on mobile Do I see this as a yearly a to b equals cd to the upside? The answer is no now what i'll do is i'll get this chart i'm doing it offscreen populated Aim will bring up the the other again the same thing out here I don't believe cvx is trading above its all-time high, but we'll find out here shortly. Let's not make that assumption Shoot cvs. That's not what I wanted cvx is the ticker some okay the white background charts have populated So let me pull those over here and again go to the yearly chart first the yearly chart shows us what? So the okay take that back so the yearly chart in cvx as you are at new all-time highs so now the question is Is this an a to b equals cd to the upside it could be Absolutely, it could be and that's using the 2003 low out there Let me populate to see if there's anything else that pops out at us Well what pops out at us is wave number seven that you're in but that's a yearly chart So I right now wouldn't get too focused on a yearly chart for developing Really where price might be targeting And I'd have to I think you're better off using shorter term time frame charts and kind of watching the play by play On a monthly basis everything looks very bullish still on a weekly basis Everything looks very bullish what I mean by that is this done negated a td9 count up two weeks ago So that tells us about a strong moment to move to the upside in it and on the daily time frame Well, the daily time frame says hold your horses out here Hector And that says that today is going to become bar number nine of a td9 count also going to be well We're also in wave number seven. That's litter g now for that to confirm you have to have a lower high tomorrow For the td9 count to confirm well, that might not be completed until tomorrow But remember we're in strong momentum moves to the upside Let's say we get this td9 count high tomorrow Maybe it's today's side the price goes above whichever high it is tells you again about a very strong Momentum to the upside so Hector and patty. I hope that helps out with regard to cvx and Exxon mobile cvx. Yeah, it could be a yearly aid of people city to the upside But I would pay attention more to the daily Sharpening your skills as an investor is like getting better at playing a musical instrument You have to practice sure, but you also need excellent instruction from experts at tfnn You'll get advice and guidance from the authority and technical market analysis And it's not just dry tedious text either tfnn airs live financial content streamed live on tfnn.com and tfnn's youtube channel with tiger tv Live every market day from 8 30 a.m. To 4 p.m. Eastern for free Each host is an experienced trader and gives their take on the market while taking calls and questions live from around the world From the moment the market opens until the closing bell sounds tiger tv has eight different shows with expert hosts To help you make the right moves with your money Watch online at tfnn.com or on tfnn's youtube channel and become the investor you were born to be tfnn educating investors 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? 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That's 877-518-9190 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 Welcome back folks. Take my apology about the first half hour of the show there We're dealing with some technical issues as we migrate over to a better application here for us So let's do this here. We've got about two minutes left We'll try to do the play by play on a short term basis We're looking at the 30 minute charts for the equity future contracts out here Now if you take a look at them two of them actually have potential bottoming patterns What I mean by that is the nq is right now forming bar number nine But eight was the lowest bar so far actually looks like we've got a lower bar here in bar number nine So we're we're going to get a td9 count bottom or we should buy six by six by by 2 p.m That is as in and price need would need to close below. It looks like that's a likely thing As long as price closes below. Well, why can't I get the figure there we go? Thirteen five fifty seven fifty you'll have a valid td9 count So that's going to be a bottom signal inside the nq now That may just mean that it's a very small relief rally up to that oscillator and change line But that's the target thirteen five forty nine We can see that every rally not as a result of a bottom signal But every rally that we've seen here for the last several hours that is where price is running in resistance Now that level is thirteen five fifty if price closed above thirteen five fifty You would expect an anticipated move up to thirteen six sixty one and actually The counter trend move would really end at thirteen seven fifty four because that was a bullet structured profile out there now if you look in the A left hand panel so both the e s and the nq are the only ones that have The td9 count bottom signal you'll see td9 counts on the dow ym and the russell 2000 But so far their lows are not on bars eight nine or the bar following nine which is yet to Which is yet to take place so in the case of the e s mini it too should target its oscillator and change line That's currently printed about forty two forty eight now if price is able to take that level out Then you could expect to anticipate a move up to forty two seventy seven uh with regard to the dow what this needs By two thirty is to make a lower low that what we've already seen today And in the case of the uh In the case of the russell 2000 it just needs to make a low Below the low of the last candle session. Hey folks stay tuned for two more great hours I'll be back with you tomorrow on terrific tuesday have a back nipson Monday. Thanks much for joining us