 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 afternoon from TFNN. Welcome to the September 19th, the terrific Thursday edition of today's Traders Edge show. I'm your host, Steve. Perseverance Rhodes. Wabsolutely knows that each of us should always be pioneers of our future versus prisoners of our past. Hope everyone out there is having a great day. Hey, let's make sure we have an extraordinary one. And, of course, the easy way to do that is to always remember that life is happening for us, not to us. That's right, when you and I make that one little two-by-four shift, it means we can find the gift in every set of circumstances that life is going to toss at us. Now, today, you and I, we're going to go check on the circumstance of these markets. We're going to go figure out what those bulls and bears, what those buyers and sellers are communicating to you and I just passed one o'clock in the afternoon. I want you to know that I'm absolutely grateful for your presence here, but way. And I do mean way, way more important than that. During this next 60 minutes, I'm here to serve you. So what that means is pick up that phone, dial on in, 877-927-6648. Let me know what instrument, stock, equity, futures contract, indices, whatever it might be, whatever timeframe it is that you're looking for information on. You know, we'll take a look at that for you. Of course, if you can't call in, we've got you covered there. You can let those fingers do the walking. And that means just send me an email, Steve at tfn.com. But inside that subject, and if you'd be kind enough to put radio show question and get those emails in early, if you take the time to write, I want to make sure that I get to it. And if they come in towards the end of that last segment, it's always pretty difficult in any event. So you know the routine. Of course, inside our Tigers then, while any ping will do. So let's go ahead and get this show started on terrific Thursday. Of course, this is Tiger, Financial News Network. I'm Steve Rhodes. Welcome to the show right now. The Dow, well, all the indices are in the green with the exception of the transports in the semis. The semis are flat off a buck. Transports are down to 10% or 22 points. Otherwise, everything else in the green. So the Dow is up 51 to 10% about three 10% for the S&P. That's eight points. A NASDAQ up a quarter of a percent, 19 points. Russell's up six points. So gold is trading out at 1507. Still above the top of the bottom of its daily profile out there, 1499.50. So yesterday, when we had convened, what we had decided, you and I. In fact, everybody decided because I threw the offer out there. I said, if somebody is looking at some charts and they can see the tell in the marketplace as far as what it wants to do, please call it. And of course, you can do that any day. But specifically yesterday, what I was sharing with you was I was scanning all of my charts using all of those tools, looking for some type of advantage, some type of tell, some type of early warning signal. Now, the early warning signals that we saw yesterday, which ended up really coming to fruition, were inside the NQ. But what we weren't able to do yesterday, even though we couldn't determine what direction the market wanted to move in. And as it turns out, that was really correct, wasn't it? Because we saw the market both move down to the bottom of support. So what we were able to do is say, okay, we don't know which way the market's going to go, but let's take a look at the levels that you want to pay attention to. They'll help you to determine what your next move ought to be. And so for those levels, we really took a look at the bottom of the box for the ES mini, for the Dow Equity Futures contract, and for the Russell 2000. Now, we know the Dow and the Russell 2000 were the ones that were more likely to be hit out there. And in fact, they were during the day. So those are the two right-hand panels on the chart. If you're watching on Tiger TV, take a look at yesterday's bar. What it did was price went ahead and went down and tagged support, 26, 9, 24. Now, the beauty about that is those folks that had a short position where there was just a trade and intraday they knew where support was at. So when we got off the air and then after the market regurgitated, whatever kind ofurgitation it might be going on inside the market, you knew what to look for. You knew, you knew what to look for out there. And that was a beautiful thing. And we had the same thing going on inside the Russell 2000. And then as we came into the end of the trading session yesterday, we had the ES mini make its way all the way up to resistance, which was the top of its profile. That level is 3,008. And where we're trading right now is 3,016. Eight points above that. So here's the deal. Here's the playbook. Here's the meaning at this stage. Now, granted, we haven't seen the ES mini take out the high from September 13th. And that level is 30, 25, 75. The high today is 30, 24, 50. Someone might say, is that point really significant? Point, point, a quarter, whatever it was dollar wise. And the answer would be, yeah, it is actually really important out there. Now, it doesn't necessarily have to be today as long as price closes above 3,000. And what happens if price closes below 3,008? Well, then we know a significant level of resistance. And that's what it is. 3,008 is a significant level of resistance. And the reason is because that is a bearish structured box. Likewise, the meaning behind it, if that pattern fails, meaning price closes over 3,008, then what's likely to unfold not today, not necessarily tomorrow, but over the coming sessions and the completion of that measured move breakout of the consolidation that would take price up into 30, 78. Now, you and I cannot make that statement not until we actually see price take out the high from the trading session on September 13th. Because this is where things could also fall apart. Now, none of the equity futures contracts have made it over the previous high from last week, from several trading sessions ago. By the way, inside the NQ, it's not September 13th, it's September the 12th. It's September the 13th in the Dow, and it is September the 13th inside the Russell 2,000. But we don't really... And the Dow, by the way, is the other in to see equity futures contract that you'll want to track out here. It's tested and so far today rejected the top of that daily profile. It too is a bearish structured profile. So if you're looking for some type of uniform message, then what you're looking for today is for the ESM. This is the bullish side. This is both bullish and bearish. Now, when I say bearish, it means if you are bearish and you see these closes above this level, you have to ask yourself the reason why. Because key levels of resistance will have failed. So it's 27 to 15. Now, I'll try to give you great information during the rest of the day, the rest of the hour out there. But those are the two things. I'm trying to make it very simple. Those are the two things to focus on and pay attention to. And it's going to all be about today's close. So can price stay over this resistance level? Now, I don't know what that answer is at this stage. If I look to some intraday timeframe charts out there. So for example, in the ESMini, if we look at the 30-minute timeframe chart, what are we going to notice? Well, we notice that on a 30-minute basis, it formed a TD setup nine-count top. And price right now is trading below the bottom of its 30-minute profile. What does this mean to Stevie? What does this mean to you? This means that we could see price come all the way back to where it most recently broke out. And that was at 29, 95, 75. Are that saying that's what's going to happen? I'm saying at 1.14 in the afternoon, that's what its message is to you and I. You've got a short, short term 30-minute timeframe chart out here. So the sellers ought to be able to push price back down below 3008 and if they can't. Boy, that's another strong message for you and I and all of our friends. We'll be back in just a few moments. Headed by Steve Dahl, Taz understands that in today's technological world, the use of top flight software applications and technical analysis expertise is essential to successful trading in today's market. 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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. Welcome back, folks. Let's go out to Newton Mass and speak with Tom. Tom, thanks for calling. Thanks for holding. How are you today? I'm good, Steve. How are you? I'm doing very well. Thanks so much for asking. And you want to take a look at Great Panther. Tell us what you're doing and how I can help you. Well, I've been just watching this for the last few years and it seems to me that did it do a ABC down the other day? What time frame are you looking at? This was on the daily. Okay. So there's several potential A to B equals CD patterns out here, but specifically to answer your question and what I would draw in here, did it complete an A to B equals CD pattern? This is what I would be looking at. So to the extent that you're watching us on Tiger TV for my A point, I would be using the high from July 19th for my B point. I would be using the low from August 2nd and for my C point, I would be using the high from August the 9th and the one to one price projection level on that would be 67 cents. So that's what I would be using for the actual A to B equal CD down pattern. Now price got down to a low on September 13th of 68 cents. So, you know, pretty close and so then to finish and complete the answer, did it complete an A to B equal CD? In order for that to happen, Tom, for me the way the market communicates to me that the pattern is complete is that it would have to generate a bullish reversal candle either on that date or a following date and what we can take a look at when we look at Stevie's other charts out here is no bullish reversal candle has occurred. So the way I would answer your question is we don't know whether 67 cents will stop that move out there. That's just the one to one price projection. A 1 to 1.272 would take it down to 61 cents. 1 to 1.618 would take it down to 54 cents. Now the reason that we take a look at that Tom is that until the bullish reversal candle forms out here price is likely going to continue to move lower out there and so you're looking for the first sign that buyers are saying okay I'm ready to take a position and defend this price area and that typically is done with a bullish reversal candle out here. What we can also see is that price is still below Stevie's red line that's 74 cents out there so that is held as resistance because the line is red it tells you and I that the price oscillator is below zero. It's very bearish when price is falling when you have price falling below the zero line of the price oscillator and that's what it's doing out there so that's not good. It did form a TD set up nine count bottom on that same day that was count number eight and so there could be a bottom that's out here so we have both the 1 to 1A to be equal CD we have a TD set up nine count pattern but now what you would be waiting for is that sign that the cavalry is here and that's what I see from the A to B equal CD standpoint in taking a look at Great Panther money but I have a question for you you've been watching it for months but does that mean that you don't have a position in it or let me ask the question do you have a position in Great Panther? No I do not. Are you looking for a position in Great Panther? I am. And what is it that's going to trigger you to take that position? What is it that you need to see and I'm not trying to convince you to take the trade or anything but what is it that you need to see in order to take that position and is this a long term position a trade, a short term give me some type of feel there too. This would be kind of a short term. Short term. What I'm looking for is I'm looking for a bottom and then I'm looking for a sign of strength and I haven't seen I definitely haven't seen a sign of strength if anything you've seen signs of potential weakness with the two high volume bars in September 13 and the 16th as price was pushing lower and it was pushing lower into a previous swing point with more volume that previous swing point being the May 31st time frame out there but if you're looking for a short term trade then you stick with the daily time frame out there and I think you're on to something it's just what you need that bullish reversal candle do you need a sign of strength if you're going to do it that way then as soon as you see the bottom signal then you'll see likely a sign of strength and then you'll have to buy that retracement out there but on the A to B equal CD pattern you don't necessarily have to do that you just need the completion of the A to B equal CD at one of these areas it doesn't have to be exact we use it really more Tom as a guideline we really need that bullish reversal candle and that could be your trigger from a trade standpoint excellent thank you Steve you bet you bet thanks much for calling so two potential bottom patterns for Tom there in great Panther the TD set up nine count pattern as well as the A to B equal CD to the downside so let's go to our next question the next question coming in from James James wants to take a look at Disney so just like we did with here with great Panther although we didn't go into it we start with the charts out here to take a look at where is price trading in relationships to its TAS market profile so we take a look at the daily time frame James here's what we know today price is moving through the bottom of a daily profile out there that was support so in on a daily basis support has failed not I don't know what the end of the day but if there's a close below 13623 support will have failed on the daily so what does the weekly tell us the weekly says it's next level of support which would be a strong level of support is 13185 we say strong level because it's a bullish structured weekly profile and so you're looking for what's your analysis I'm not in but I'd like to drop I would like it to drop more might look at it from a swing trade so the next area James that you're looking for is 13185 the monthly chart shows that price is above a new monthly profile that form this month the month of September it's usually bullish usually because I haven't found a single pattern that is 100% guaranteed but the patterns that you and I take a look at the support and resistance levels that we look at out here trading without them it's a totally a guessing game here you and I aren't guessing we know where support resistance is at that's helpful and then we also by taking a look at our other tools out there we know how the bottom's form or can form out there with a A to B equal CD as Tom was looking at as a wave number seven letter number G price moving lower doing less relative energy rose went to indicator bottom and then of course our TD set of nine counts let's kind of you're looking for lower price so you're thinking I think James I even I may be putting a word into your to your question here I think you're looking more long-term so if I look at long-term if we look at the monthly chart here for Disney everything looks hunky Dory I don't know what hunky Dory means I just know we've used it and if we take a look at though at the monthly chart is telling us it says Disney could have some problems out here why can we say that well here it's got the rose momentum indicator top which confirmed in August it confirmed in August when it generated that bearish and golfing candle so this is like for Tom who was calling about great panther and was looking at A to B equal CD now this is not the A to B equal CD pattern we probably can draw one in here but this is the way that the market communicates to you and I what its intentions are right now the intentions are on a monthly basis for price to tag one thirty one thirty four and below that then that takes you down to one twenty two to one fourteen to one ten now let's finish taking look at Disney we get back from this breakout here but the monthly chart says not so fast let's go see what the weekly and the daily say we get back from this break 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 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 five hundred for the last twelve six and three months Timer Digest also ranks me as the number 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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 this is available at only $79 a month we are so confident that you're going to love this new charting software that will even give you a 30 day unconditional money back guarantee don't miss out on this incredible new piece of software get your copy of the art of timing the trade 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 so we're taking a look at Disney for James he's looking for you know swing position but we look at the monthly chart he wants to buy this thing lower the monthly chart says Disney's giving us a caution signal long term out here we look at the weekly time frame it too was generated in roads momentum indicator topping pattern out here it confirmed with this bearish and golfing candle looks like back in the July time frame out there I don't have my phone out there but I'm not going to worry about the exact month but we do have a confirmation of that pattern that is out here of course remember any topping signal says I'm just going to push price down to support that's what's taking place so far price got down tested the bottom of that bullish structure box looks like prices headed there once again 13185 a close below that for two weeks in a row would then go ahead and set up an A to B equal CD to the downside the A to B is pretty much any time frame that we look at out here should be about the same which would be 12395 that could be the Gartley buy it could be 1956 the same game plan would be in place out here you'd want to see a bullish reversal candle on the A to B equal CD pattern the time frame is agnostic to us with regard to that now let's go take a look at the daily time frame see what it is that we see out here certainly a wide-ranging bar ball you picking up moving to the downside out here that's really what we're looking at from this standpoint you know if we take a look at wave counts we're well away from wave number seven that be letter G out there so I think that I continue watching the Disney chart out there James it's not today that you or I are seeing any sign of a bottom and I think you're going to get your wish it's going to continue to get your wish it's going to continue to continue to get your wish and I think you're going to get your wish it's going to continue to move lower out there so that helps you out no other question just want to let everybody know phone lines are totally open 8779276648 of course inside the tiger's den I'll be happy to take any kind of a ping out there as we're seeing the the equity market sell off a bit of course that was a signal right coming from the short-term time frame charts out there short-term we just looked at the 60 minute time frame as well again generating the same type of signal for you and I what's that signal TD set up nine count works beautiful it's easy the one of the easiest technical patterns to be able to place on your charts in your systems and to learn but now right now on the 60 minute we're seeing the key level of support being tested key level being really two things the bottom of its profile 3,000 about 3,009 and also steve's green line 3,009 so this is really a key area on the 60 minute time frame and if we're see if we were to see a close below that level 3,009 coming into 2 o'clock that would suggest that price can go ahead and pull back to 298875 now pulling back to where price just broke out does not mean that the character of the market has changed from bullish or bearish for that we were using yesterday we were using and this is the daily time frame to be able to make that type of a call out there we don't have that yet but as I did say the markets are kind of in this precarious situation precarious situation not taking out the prior highs out there that's always a bit of a caution sign one of the other caution signs out here and we'll hit on it real quickly then we'll go to our caller out there but you may remember I was doing once we saw price get below the 50 day moving average I'm looking at the left hand panel of my bottom left hand panel in my chart and you're looking at the spot volatility next what we said out there was as soon as we saw a close below that that what the intention of the spot volatility next was to get down to the bottom of that 50 to 1 Bollinger Band reading now at that time was like $13.08 or $0.09 it has obviously adjusted since then and got down to the bottom of that and that's where our actual low today is 1331 now just so it's it's fully exhausted that move so anybody that was taking that trade I'm being short the volatility index this is where you would jettison that position I'm not saying to switch it I'm just saying you will have gotten the hamburger out of that trade whatever that means hey let's go to Denver and speak with Ron run thanks for calling it was the call of the church yesterday in the last couple days on I'm the one with in Adobe yeah and I got out of half of my position yesterday I had eight of them and I sold four okay and I only 277 and a half 280 full spread and I'm just trying to see if Adobe will hold 280 and bounce what are you well you're pressing it aren't you to I know I know I know so it 279 65 I think is is my red line number and you're just above that right now I wish you didn't have so much as a time element you know behind you obviously you do look we got to just stick with with what it is you've got there there's no problem is you know to bind back that 280 is so expensive you know that that'll all go away tomorrow and the one of the things that I could do is instead of buying back to 280 I could be I could buy the 282 and be short the 280 that would be I don't want to do that yet the case I just want to just come out of it but yeah no I know 280 I'm in fat city but I don't know if it'll hold it here yeah I don't either I here's what we know here's what you and I know we know what's trying to form a bottom but it's it's really failed to do so it's failed to do so from the standpoint of getting the type of momentum that it needs but when I say momentum that it needs clearly clear Stevie's red line that would be one level page trading just slightly above that today we know price continues to push lower with less route of energy the hammer candle bottom I would say if you held the stock I'd say you know go ahead and stay right now I would then say but but you have to do it cautiously and you'd have to have a stop and the reason we would say that is because you know again today price right now at 130 70 afternoon is back below the bottom of that daily profile and so it just appears that old support has really become resistance and then I look at the weekly chart all that it's really done this week is test and so when I pull over the weekly time frame chart for Adobe it says more likely than not that price may be targeting 253 89 out there and it wouldn't be till next week where I could make the case that maybe this week was the low but we're not at next week I just got to make the call based upon the chart information that we've got and then you and I we talked about this yesterday the larger term time frame being the monthly time frame last month and that's the only reason that we were able to handle and these were the reasons that you know I saw the bottoming pattern inside of Adobe on a daily base when I looked at the weekly in the monthly time frame it just said you know you got to be kind of cautious here because the larger time frames are signaling to us you know lower price is it going to hold 280 it's two 80 60 right now I don't know if it And that level is 281.46. If you get a close blow 281.46 today, odds favor the answer is no, it's not gonna hold 280. Okay. But we're just talking about maybe 50 or 60 cents here, so right now it's not behaving the way that you'd like to see it. And I don't know if it's gonna continue to push lower. Hey, we're about to go to a hard break. You can hold on. Appreciate your time. Thank you, sir. Appreciate it very much. We'll be right back folks. If you're in a 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 where you can 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 would 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. 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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. So I don't know if I'm connected or not properly. Perfect. So, hey, we can get rolling if you'd like. Post something in the den, let me know. Sounds on, sounds on, you guys are good. Okay, hey, sorry about that, folks. I had a system explosion, so to speak. This is the first time I've seen the message from Microsoft that said, there's an error on your computer and we're gonna shut you down. So, Stevie's got a little work to do here after the show. So what it means though is my other charts, I'm only, we're only flying with about, with one engine. The other engine is shut down for sure. And that's my other sets of charts that really help you and I navigate what the markets are communicating to you and I. It's nice, and the timeframes are really important here. Look, if there's ever a market turn, it's gonna turn in the shorter term timeframes. First, we're looking at the 30 minute timeframe. We're looking at the daily timeframe. Kind of think of it as our triptych GPS system. Let's just say you're gonna drive from Detroit to Florida. And that's the big scheme out there and it gives you approximately the hours. But along the way, on Longdown I-75, you've got different detour areas, perhaps a road construction. And that's what our short-term timeframe charts really do. They help us to identify where there's congestion. I use the term congestion as a metaphor for where is it that the market is likely to turn or slow down and so forth. And that's where we use those patterns. The TD set up nine count. I mean, they just repeat so often that when they do appear, it helps us to understand what the markets are communicating to you and I, specifically for that timeframe out there. And that's why it's always really important then to understand the key levels of support. Do they get tested and hold? Do they fail? They fail. Then you're headed down to the next level. And it's usually an incremental time period up on the chart. 30 minute, go to 60, 60, 120, 120, to 40 or the five hour and five hour daily, something along those lines out there. Now of course, in those cases, in those time frames, what I'm doing is taking a look at futures contracts, things that are trading electronically. Most of the day out there, if we try to do that same thing with an equity chart, like Apple or something like that, you've got six and a half hours. And the bars themselves are important to take a look at. So using a 30 minute bar, okay, that's fine because you've got, what, 12? You've got 13 bars at least that make up a full day, but switch it to an hour. You've got six bars that are six each one hour long. And then one that's 30 minutes long out there. I never really saw the point from a pattern recognition standpoint out there. If you kind of know what I mean. Okay, in any event, enough of that. But so we were, I believe, discussing the spot volatility index and what we were looking for. And what it's done. And this is really helpful for those folks that try to trade those extremely volatile, we're talking about the volatility index, ETFs, the doubles, the triples or what have you. But the cool thing is my experience is, and taking a look at it, is the center line of that 50, so when I say 50 to one Bollinger ban, the normal setting that John has that he uses is the 20 and two, two of this being the standard deviation. So specifically for the spot volatility index, we change that to a 50 and a one level. That's the red and the blue line out there. Now, in this case here, that blue line is set to the 50 day exponential moving average. So it's not, I'm not even really using the Bollinger ban center line. I'm using actually the 50 day exponential moving average just to make sure that I'm clear on that. And what you'll notice is that when price gets above or below the 50 day, you'll typically see it that gets above. It'll move up to the top of the Bollinger ban. Typically markets top, when the spot volatility index is at or below the lower Bollinger ban reading out there. If you can take a look at my cursor if you're watching us on Tiger TV, and tops oftentimes take a longer period of time to form than the bottoms are usually, boom, you push too far. It's kind of like going into your pool if you've got a pool and taking one of those blown up balls and trying to hold it down with your feet. Eventually your feet are gonna give way and that ball is just gonna blow out of the pool, so to speak out here. But the target level, as you can see, in essence was hit earlier today. Does that mean that the market is top here? No, that's not what it means out there. But for those that were in the trade, trying to trade the volatility index, which I know there's many of you that are listening to the show, just from the emails and the calls that we get, now is the time where you're like, now is the time to be out of that trade altogether until we get some other type of clear signal out here. So for those of you that like that trade, that trading vehicle, and look, I can't fault somebody that at this stage with price getting down to the bottom that maybe wants to take some type of lottery ticket or stab in one of those ETFs, UV, XY, SV, whatever they are out there. Now, as price got down to the bottom of that Bollinger Band, I can get that trade. But this does not mean that the volatility index has done headed lower. It's just achieved the outcome that it should have achieved once price closed below that level on September the 5th. Today is September the 18th. It got down very close to that area on September the 13th out there as well, but today was really kind of the winner winner chicken dinner kind of a feel for the spot volatility index out there. Okay, so we got that done. If we take a look at the New York Stock Exchange, let's look at that. What are its messages right now? Its message is actually one of caution. You might say caution, why not not caution from the standpoint of take a short trade, caution from the standpoint to be watching this following pattern that is in play as we speak right now. Let me get my green line out here. So what we can see here is pricing the NYSE on a closing basis is making a higher high. And what we also have going on right now is in its advanced decline line, potentially lower highs that would be forming. Now the key to a short trade in the general market, so to speak, this could be setting the hook would be to see the advanced decline oscillator reading closed below the zero line. It's not there just yet. This is not a short trade, but this is something to be paying attention to, much like what we did yesterday. We knew where support resistance was. And we'll be right back in just a few. Since 1984, Basil Chapman has been using the Chapman wave methodology to advise traders of his expert market opinion. 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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. Welcome back, folks. So the icing on the cake is what we're gonna do here in this last segment. We're gonna finish it out with John and Philly. John, thanks for calling, thanks for holding. How are you this afternoon? Yesterday while Powell was giving his press conference at 1491, what? It's gotta take out the highs again. That's a big spread. I know that's not the answer you're looking for. So the trade to put on here, if you're trying to take the long position was that yesterday spike low as it got down to 1489.20, that was the bottom of the monthly profile. So that was kind of like a last bastion of support. Price got down to 1490.70. So that certainly was close enough. And I think you're just looking for price to stay above the bottom of that box. If we see price go below that, we're looking at an A to B equal CD to the downside. And that likely would be more than a one to one, A to B equal CD to the downside. We don't have that right now. I would say the answer that I would give you is a close above 15.20 would be a good start to communicating that that spike low was a bottom. The 15.20 level is the center of its weekly profile. So on a weekly base, both buyers and sellers are comfortable with that price. A close above that should then take price to 15.36. But here, John, I'll kind of finish it this way. Gold should be able to make 15.36.60. Support is held, whether it's the daily bottom of the box or the weekly bottom of the box. And the daily's bottom of its box is bullish in structure. Buyers should be able to push price up to 15.36.60. If it can't, maybe that's telling you and I something. Thanks a bunch, Steve. You bet. Folks, thanks so much for being here. Stay tuned. David Whites up next, your favorite polar bear. After that, tell him, well, Brian, I'll be back with you tomorrow on Fantastic Friday. Sorry about that little hiccup out there. Now let me go try to fix this computer system. Have a terrific Thursday, folks.