 The following is a presentation of TFNN The Trader's Edge with Steve Rhodes Toll free at 1-877-927-6648 or internationally at 727-873-7618 The Trader's Edge now Steve Rhodes Good afternoon folks. Welcome to the November 23rd, the terrific Tuesday edition of today's Trader's Zed 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 everyone out there is having a great day Hey, let's make sure we have an extraordinary one of the easiest way to do that It's to always remember that life is happening for us not to us That's right. We do and I make that one little two-by-four shift Well means we can find the gift in every set of circumstance that life is going to 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 just past one O'clock in the afternoon. I want you to know that I'm absolutely grateful for your presence here But more important than that that's this during this next 60 minutes. I'm here to serve you So feel free to pick up that phone you can dial on it at eight seven seven nine two seven six six four And if you can't dial in we've got you covered there, too You can go ahead and let those fingers do the walking that means go ahead and send me an email To Steve at tfnn.com and inside that subject heading if you would be kind enough to put radio show question And of course in our Tigers then well any in every ping will do so let's go ahead and get this show started on terrific Tuesday Of course, this is tiger financial news network. I'm Steve Rhodes. Welcome to let's show right now We got a little bit of a mixed bag out You got the Dow and the Dow transports trading to the upside now the Dow is flat It's up 13 points the transports are not flat. They're up 61 points or about four tenths So the downside is the S&P 18 the Nasdaq off 204 the Russell down 15 semi soft 50 We'll go figure out what all this stuff means out here spot biotinics well above the 50-day exponents moving average That always has the wind at the face of the S&P 5100 Edwin out there. You've got gold off 19 bucks silver down 86 pennies a couple these instruments in at support levels So we're going to go dive down into the interday time frame charts See if we see any signals there for you lead the charge dollar wise the upside you got booking holdings That's 33 bucks about one and a half percent Burlington stores 24 9% man. That's a big move Sit time corporation or something along those lines up 22 bucks or 9% the die-com industries up 12 Charter communications up 9 to the downside it's Tesla of 56 bucks your Paul lays down 43 Hub spots off 42 zoom video down 42 Shopify 39 So certainly things to look at of course. I want to look at what you want to look at Let's do this. We have one request that has come in We're not going to get behind on requests net requests come from Nancy and it's about Apple So it's kind of really pertinent for us to take a look at this since Apple is the number one holding inside the NDX Yeah, I think Apple is then as followed by Microsoft Out there. So the answer's question is well first I need to change church Church here give me a moment to do this. You should have this done beforehand, but well Oh, I did get it done before and okay great So the question is hasty, but would you take a look at Apple, please? Absolutely in particular will continue to run back up to 164 So that's the first question or the hundred sixty two air six four in the next two months That's always that that's always a tough one for Stevie, but we'll see what we can do out here You're in December 17th 150 calls and about a buck under water at present I think every great turkey day. Hey you too and I'm most thankful for all the wonderful traders and TF and I'm happy to be a Subscriber well, that's great I'm very happy for all the folks in the dead and everybody that's affiliated with the TF and so thanks for those kind Comments out there and Nancy is in Washington in the great Pacific Northwest So Nancy what Apple did yesterday you can see it on the black background charts here Completed a sell the D point pattern and that was the reason why I say that it completed That was because it generated a bearish reversal candle. That's the shooting star now typically shooting stars My experience is they either work or they don't that's the general rule in this case here It's working and we are seeing price move lower now in the case of Apple with regard to support And we'll go take a look at my daily time frame chart momentarily or my other charts out there But right now we take a look at profile support. It's down at 152 49 15284 So the question is we'll get back up to 164 that I don't know But let's go take a look at our other time frame charts. I know the pattern here is really kind of neutral Because price is still above support, but it's so far down there 159 152, you know that'll put that position under water quite a bit more So let's go take a look at the other background charts. Well, the reason is well Let's just take a look at the white background charts first Give me a moment here And so we're gonna look at the daily and on the daily time frame So another level a likely target area here out Nancy is going to be 155 and change right now It's 155 83 out here on my system as price moves down that number will move a little bit lower That's that green oscillator and change line. So that could be a target area more likely than that That's where price is targeting I say more likely than that because we're gonna take a look at the NQ 2 And we're gonna take a look at the instruments inside the NDX 100 So if we look at a weekly time frame chart, there's no problems out here when I say no problems There's no topping signal the only top that was in place was taken out last week So the weekly chart is saying yeah Nancy I can get back up to that level So it's a daily chart that's kind of controlling things at the moment the monthly time frame chart No topping signal yet. That's been confirmed price above the oscillator and change line. So that looks pretty good Let's dive down into the 30 minute time frame chart here. What we're looking for some type of bottom We don't have that now Nancy that bottom could take place at 156 53 That is its breakout level for its 30 minute time frame Of course, you'd like to see some type of pattern form as price gets down to that area if it gets down to that area The reason I say if you're trading inside a bullish structure pro for all right now in the 30 minute basis So what that does tell you is to consecutive close below 159 58 you're headed lower or it's headed lower the 65 minute time frame chart shows That prices back to support So 159 11 there it's a key area the 130 minute time frame chart shows us what not much support Here would be 155 61 and then the 195 minute chart says the support would be 150 908 So how do we put all this together so it's those interday time frames that I'm really kind of interested in here to provide Some type of information Nancy and the reason is First I'm going to come back here, and we're going to go back and take a look at our Taz daily profiles So our Taz daily profiles at the moment show what they show that the ES mini right now is sitting right at support That's the bottom of that profile. I mean right at it 40 46 58 50 So one potential for support holding the NQ is also back at support or one of its two support levels The first support level was 16 134 the low today is 16 140 for Stevie's work That's close enough. We're in that range of support if price would have closed below 16 134 Then we'd be looking at a move back to 16 0 55 But since we're near a support level inside the ES inside the NQ We're coming into this holiday weekend if there's a bottom. It's going to form It's going to do it sometime around now give or take now I'm not saying now at 1 13 in the afternoon not that I can't but Relatively soon I would think if that's going to be the case now The problem is or the issues are Nancy that inside the Dow equity future contract There is no tax market profile support level prices below that on the daily basis So each of these have a to be equal CD down patterns They would need some type of bullish reversal candle to confirm their Gartley buy much like yesterday Apple confirmed a Gartley wasn't really a Gartley pattern out there. It was just simply a sell the d-point a Pattern so we've got two that say maybe two that say I don't know when they say I don't know that means that what we have To do is shift over to steve's other charts out here to see so to really try to put all this together And when we do in fact, I'll get those charts on my screen here right now before we go to break because the question is is the Dow Potentially at support and the answer that question is absolutely Steve Rhodes with TFNM. We'll be right back Steve Rhodes started his trading career as a student almost 20 years ago and the student has now become the master Steve won the prestigious timer of the year award in 2018 and Barely missed that mark again in 2019 finishing at number two for the year an amazing Accomplishment Steve Rhodes is committed to sharing his techniques and knowledge with anyone who wants to learn and he shares his vast amount of Trading knowledge every day in his mastering probability newsletter Steve's award-winning newsletter Mastering probability is delivered every trading day with updates throughout the afternoon sign up for Steve's market newsletter Mastering probability and you'll receive access to seven of Steve's educational webinars Absolutely free at TFNM all our newsletters come with a 30-day money back guarantee So you have absolutely nothing to worry about visit TFNM.com and try mastering probability 30 days risk-free today TFNM educating investors What's separating you from the most successful men and women on Wall Street? 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So as we take a look at three of the four equity future contracts We can see that they are each at levels of potential support the yes Many the bottom of its new daily profile the NQ the center of its bullish structure profile in the Dow equity future contract is its TD 9 breakout level so three of the four say as we go into this holiday weekend Now is a good time to to look potentially for some type of bottom signals in essence That's what we're doing here and getting back to Nancy's question that could certainly lift Apple higher and maybe she can recoup but because the longer term maybe this is in any bit Let's just one one thing at a time the Russell 2000 not providing us with any kind of a signal out here The actually its signal says that it wants to get down to the 22 38 level So remember prices below the bottom of its daily profile There's an A to B equal CD to the downside a bullish reversal candle would confirm its bottom out there and short of that That would then suggest that price will go target the 22 38 level So when we look at the short-term time frame charts now in this case here I'm just simply going to go to the 30 minute charts out there I'm pro those up on the screen. So we look at the 30 minute charts out here The only chart with a valid bottoming signal is the NQ Okay, well, it's just really what Nancy in essence is calling about trying to understand what Apple is doing You can see that it has a confirmed roadsman to Mindicator bottom Did it here at 1130 when it generated that bull sash candle? What we also noticed is each of the rallies have found resistance at that oscillator and change line One of that oscillator and change line which right now about 16 to 01 I give or take out there The price is testing this level of support. So it's great that we're doing this at 120 at this level here holds Hmm something to think about then if price can get above that red oscillator and change line about the 16 We'll call it 202 area that would be the next move Then if you can get above that then you're looking at 16 307 And that is the top of its barestructured profile if price can close above that then the NQ would be Suggesting, okay, we could see some rally from here. What if it doesn't well if it doesn't then we know that what the NQ Should do is go target at 16 055 level if you take a look at the dial when the lower left You can see that it has made it made it slow at 4 o'clock this morning and it has not made a lower low So the dial got back to that td9 breakout level that was at that 35 388 area and even though, you know, it's not really a I don't know that I can find a bottom pattern out here Right now with regard to it. So it's the NQ that maybe has a bottom pattern But the Dow is the one that should see if there is a rally should see a very large rally out there It's the only one where the lows didn't make a lower low You know earlier this morning, you know 1011 as the others were doing out there. So Nancy I hope that that helps you out. We've got a caller on the line I'm going to go to our caller because we have call had seating here But when when when we're done that call or what have you I will go back We'll take a look at the NDX 100 and take a look at those top eight instruments and try to figure out what they're doing But in the meantime, we've got John and Philly on the line John. Thanks for calling. Thanks for holding. How are you today? Steve I'm terrific. Thanks for taking the call and This stuff tells very nicely my question does rather With the top of your just gonna go. Yeah, so the major top signal I think would come John with a close below the bottom of a weekly profile and that's a screen That's the that's the chart that I have on our screen right now and that's way down to 386 23 But prior to price getting down there sometimes old resistance can become support We all see that do you see that when you do your charting and so forth So in this case here from a market profile standpoint the next level of support would be the top of the weekly profile That's 412 37. Oh, you're not seeing it. Sorry my Apology. Thank you. Mr. Bill my wingman keeping me straight. So here we go So here's the weekly time frame chart John and what we can see is price is pulling back and it's about to or it has Basically tested the top of that profile our actual low is 413 40 the top of that profiles 412 37 So that would be an area to watch and observe if price were to close below that then the signal would be that price Would get down to about the 475 area and then below that would be that 386 23 And if we did see a close below that weekly profile that would tell us of something of significance With regard to the other profile levels out here John the monthly has a new profile that formed below price It did that last month. That's typically a bullish signal out here So as you've pointed out, this has been in a mega bull market profile wise That was the message from last month out there But yes on a daily basis we can see that price just creamed right through the bottom of its daily profile And the question is there any kind of bottoming signal out here? The answer is no It's going to be in bar number four on a TD nine count if price continues lower In in that top of that weekly profile doesn't hold then the price target becomes 394 05 that's the breakout level on this last move this last move that I'm referring to is from October 4th Up to the TD nine count top that took place on November the 9th back to the weekly charges for a moment See if we see anything out here nothing additional To provide to us and on the monthly profile depending on what type of candle forms this month Could be the identifier of a potential top But at the same time price would have to close below about 412 in order to signal that so on a daily basis This looks like it wants to continue to move lower And that price target would be 394 05, but you and I know better than that We would be watching the top of that weekly profile 412 37 first This is that the information that you were looking for? perfect, that's all I need I thank you and That lets you then proceed into your discussion of the index 100 which you bet. Thanks much for calling that was John in Philly So yeah, let's go back to those charts give me a moment just to populate them because it's important understand What's going on underneath the covers not just take a look at the NQ, but what's really going on? What's the message of those instruments? So give me a mo. Oh, no, what did I just do? I hope I didn't do that. Oh, oh Well, this is going to take work So I'm gonna have to go to game plan B because as I was trying to get to that worksheet I happened to click on the wrong link and it's opening up something that's could take a little while to To populate here. What a bummer stevo. Well, hey the everything had everything in life happens for us So now we're going to go figure out what that force is So let me so I've kind of answered Nancy's question. I'm just gonna see if there's any other questions here Yeah, David writes in I'm only gonna be able to do some of what David's looking at but that's okay We're gonna go for it and his question is about BNTX BNTX. This is David I believe this is David in Texas possibly but in any event So we're looking at Biontech se a Biontech right now is trading above the top of its daily profile What's your question? Where do you see BNTX headed to near term? You know if price can stay above 298 42 Dave And price can close above 30244 by Friday Then the suggestion is 331 40 and 331 40 is gonna be the real key level And we'll talk about that as soon as we get back from this break And we're taking a look at folks ticker symbol BNTX pull that up on your charts And you tell me where his price headed to in the next in the near term would be right back Are you having fun trading the markets but having trouble finding like-minded individuals to discuss your trading and investment ideas with Become an apex predator in the trading markets and join the Tigers Den trading room only at tfnn.com The Tigers Den is an exclusive trading room where successful traders from around the world come to exchange trades and ideas Join the den and surround yourself with the sharpest minds in the trading world Subscribers to the Tigers Den are also the first to have their questions answered live on air and can privately chat with our tfnn hosts live during their shows Interact with other Tigers and Tigers is as they share trading ideas news analysis and discuss the market action all trading day Subscribe to the Tigers Den risk-free with our 30-day money-back guarantee and become part of the tfnn trading community tfnn educating investors You could be making money off the stock market and if you're already making money off the stock market You could be making a lot more check out tfnn and Tiger TV and get expert investing advice to give you the power to control your financial future Go to tfnn.com and find the newsletter for you whether you're into trading gold metals futures Currencies or options you'll get advice and analysis to help you seriously get ahead tfnn also features trading services with a 30-day money-back guarantee for new subscribers as well as tfnn's Tiger Den trading room trading software and educational webinars for all trading levels and make sure you check out Tiger TV for free on tfnn.com or tfnn's YouTube channel for live financial content from 8 30 a.m.. 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This is a bearish structured profile and we can see that this formed above price and Any countertrend rallies would typically end at the center of a bearish structured profile So that's really going to be a real key level or price level for you to watch If in fact this can get back inside that weekly profile So that means a close but 30244 on Friday afternoon with regard to its white background charts Let's see what additional information we might be able to gleam here daily wise Nothing here that helps us again not bearish at all So the it's that weekly. That's really causing the problem out here the weekly You can also see the oscillator and change line is a 307 37 So that would be a nice area for price to overcome or close above other than that I really don't have a ton of information out here David So I think it's got to wait to see how this plays out for the next couple of days out here Of course, that would really be just tomorrow, right? And so effectively I'd say now at 1 o'clock in the afternoon I mean the majority of the people are traveling and a bunch of my family members are traveling that today And so we're really into a very light volume type market out here. We should be so David I hope that helps you out. Probably we take a look at this, you know on Monday as well So thanks again for writing and no other questions at the moment So let's go back to because I did get those other charts powered up here Let's go back to take a look at what's going on inside the NDX 100 because if the market is going to bottom It should come from the NDX 100 level or area out here. So now we're going to change chart screens and You're going to see the you're going to see the top eight instruments Apple being the first one So we've already covered Apple in detail We know it's got a sell the deep point because the shooting star candle and that suggests move back to about the 155.74 ish area that is its oscillator and change line Microsoft yesterday formed a Rosemont to Mindicator top price here should find support at 332 43 That's the bottom of its daily profile. If price closed below 332 43 that suggests run to the 308 60 area But prices near support Amazon no topping pattern out here But price being below its oscillator and change line. I was likely to head back into the 3510 area here That is like 3510. Oh, there's a new profile that formed Well, I'll be a son of a gun and I'm gonna get this on my black background charts here It's easier for me to see probably you as well. So prices below a brand new profile that formed today That was at 30. No, it's at 35 10.07 Okay, I just can't say okay. That's what it is a little dot here. So 35 10.07 is where Amazon should find support Tesla no top Brand new profile and support is between 1044 $1,000 and 0.4. Let's just forget the sense. It's between 1,000 and 1,065 that way I won't confuse anybody Google no top just consolidate inside its profile supported 2886 in Bidia A Rosemont to Mindicator top price is now inside its daily profile. So the support levels here are 287 and 301 Facebook is trading below the bottom its oscillator and change line if it closes below that that would suggest lower price Adobe Rosemont to Mindicator top yesterday. So its level of support is 637 to 642 Actually 651. That's the top of its daily profile. So how do we summarize this? I would say I'd summarize it this as I just was speaking to myself that we are seeing The top eight instruments are each suggesting that they Easily could move to lower ground now not lower ground like there's a major change in trend But lower areas of support one fifty five seventy five Apple Microsoft three thirty two forty three Amazon three 3508 90 Tesla 1065 year 1083 2866 on Google 301 we'd say on Nvidia Facebook I'm not sure it's just lower and Adobe you're basically sitting at support out here So do we get a ton of information Stevie? Yeah, probably not. So other than okay Yeah, so probably not so now let's go back and sorry to just rip this apart But it's it really should be done. It really is about the the end cues of the index I'm going to switch back to the end to the eight time frame chart out there. Oh, I've got to pull it up That's right. I had to shut everything down. So give me a moment to get that rolling In Q. I'm naturally into charts. Okay. And while that's going what I'm going to do here is a switch chart Screens and you'll see it just popping up right now in populating. So inside the end cue. Let's get this thing going Out here. Come on. Come on There we go. So Right now so as we came into that 130 time slot price did not bust through support But it is trading below that right now So this is going to be in it So it's going to be interesting here to see what happens at two o'clock This price close back above the bottom of this pattern that means that low is 16 140 75 now that one you want to write Right on your pad of paper to the T 1 6 1 4 0 75 if price closes above that Then support will still have held again. It's below the profile So we know that old support could become resistant. So watch 16 16 8 above that watch that oscillator and change Let approximately 16 190. I'd say probably 16 194 price were to move up and the price close above that Then we should see a run in the 16 27 and 16 307 level But a price takes this out then as we pull back here We take a look at the intraday time periods for the end cue out here what we're going to see is what we're not going to See any kind of bottom signal. So the 30 minute was the one we were looking at we don't see anything on a 60 minute We don't see anything on the 120 We don't see anything on the 240 and we don't see anything on the 300 So Nancy this becomes pretty easy We've narrowed this down to the 30 minute time frame right now by 2 o'clock You're be looking for the message there your price closes below that level that I gave you then very likely what that tells us is That the end cue is going to go tag the bottom of that daily profile, although It's not shown I take it is shown here 16 0 55 that is this panel right here I'll just explode it up for you and that would be its message and if price close it blows 16 0 55 The nods favor you're probably jettison that apple position Because that could be then signaling to you when I the end cue would go back and target 15 507 25, but you have to take this one step at a time and in that progression right now What you're paying attention to is going to be that 30 minute time frame So I hope that helps you out that was with Apple But you know we took kind of a an interesting route to get there to try to understand what it means But I don't know any other way to do that now Let's go do the same kind of thing Diving deep down into a Goldilocks. So we've got to get those charts here populated It shouldn't take too long Because I don't have that many Sets of worksheets open at this stage out here So you're going to see how long and it's got to go back and Recreate all these charts and time frames and come up with the signal. So when we take a look at Goldilocks Where's a key level of support for gold? Well, actually I'm going to change screens here momentarily And we're going to get back and go take a look at that. So first before we dive down into the interday charts here Let's go back to my black background charts We're going to see what we take a look at Goldilocks is on the daily timeframe That's what I want you to focus in on you see a rising trend line and that rising trend line basically was hit today I wasn't hit exactly no, but pretty close the low today being 1784 We could see on the weekly basis prices inside a bullish structured weekly profile kind of like a look at the NQ Isn't it so we're right now on a daily and a weekly basis inside a support zone And that's why when we go back to take a look at gold we get back to this break here We're going to look at those short-term timeframe charts to see what kind of signals they're providing us Steve Rhodes with TFNM will 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 call tiger real estate LLC today at 727-329-83222 Or email us at tiger at TFNM dot com at 727-329-83222 call us today The technology around us is changing every day with so much happening it 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 trade Dave delivers his weekly newsletters every friday with updates throughout the week You can get the technology insider at TFNM dot com for only 37 dollars 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 TFNM 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 and p biotech three times bull and bear etfs Visit direction investments dot com 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 eight six six four seven six seven five two three 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 TFNM live on your mobile device 24 hours per day Go to tfn.com and hit watch tiger tv That's tfn.com and hit watch tiger tv We're gonna go out to new york and speak with john john. Thanks for calling. Thanks for holding. How are you doing? You all set for Thanksgiving? yes Perfect perfect. Are you a pie? Do you like pie? Is there a certain pie you like on Thanksgiving pumpkin pie Pumpkin pie kind of typical What's that? pecan Oh, yeah, oh, yeah, of course, you know Hey the combination and a little cool whip to it or some vanilla ice cream And that sounds like a few calories on top of a bunch that i'm sure we're all going to eat But anyway, you call to talk about nordic american tankers, which is losing a lot of calories Over the last couple of uh, about the last month out here. Uh, tell us what you're doing and how I can best help you I have some i'm underwater and I'd like to add to it. It looks like it's bottoming out. What do you think? So in order for it to bottom out, I'd have to find some type of pattern out here now first It just take a look at these black background charts They're the ones with our task market profiles daily weekly and monthly prices below the bottom of each of those So that says that you and I need to find a compelling reason In order to you know in in this case here I take a new add to your position take a new position So what this is doing? This is testing a swing point from all the way But i'm looking at a monthly chart from all the way back in september of 2019 That had volume there of 31 million shares john and this month already we are at 48 million shares That suggests that at least the low of that should get tested And that's at dollar 66 and the price closed below a buck 66 out here Let me pull this thing back even further then I don't know where it's going But because that would because you'd be at a new all-time low inside of nordic american tankers But you're moving into a swing point You're doing it with volume and that says that it should go at least target the bottom of that And that's about 66 level Before I go to the white background charts. Do you have any questions about what I just shared with you so far? No, it makes sense Okay, perfect. Let's take a look at the daily time frame. What kind of signals do we have here? And what we will find as soon as this populates or explodes or expands We can do it. There we go is that we're in bar number five of a td9 count So we know that it this should head lower Maybe this heads lower gets that 166 and at the same time generates bar eight nine the bar following bar number nine So that we're only in bar five. We're about uh, four to five three to five trading sessions off From knowing that answer out here, but I don't see a bottoming pattern or signal on the daily time frame any questions there No Perfect the weekly time frame shows that price is stretched that generates that rogment to indicator signal That's the black diagonal lines what you need there to confirm a bottom would be a bullish reversal candle So we'd likely see a bottom on the daily time frame first Then we'd see something follow through to the weekly But what I can't share with you is I don't see any kind of a bottom signal on the weekly time frame And as I look at the monthly really the same message out there that message is if price closed below I think it was buck 66 that just says you've got some significant problems So I would not add to my position right now. I would anticipate that you're going to see lower price It's likely about another 20 cents or so below where we're trading right now And that's where you would get the next piece of information out there Um, is there anything else that I can provide to you? No, that's it. That's good enough. Thank you You're welcome. Thanks. Thank you. John. You have a happy Thanksgiving as well And uh, that was Nordic american tankers Now I believe well, oh, we it was goldilocks that we were doing before that break So I'm just going to go back to that but you know, we've got call ahead seating here So we establish in the case of gold potential levels of support arising trend line on the daily time frame And trading back into the bullish structured area of its weekly profile So now what we're going to do here is give me a moment. We'll change. I've got to just change screens change Get this thing set up here So we go down and dig into the details for gold Because again when you're back to areas of support What you should see is some type of bottoming signals on the shorter term time frames in that in essence Is what you and I are looking for so here as we switch over to our eight paneled gold chart What we can see and what we're going to focus is on the very right hand corner the upper right hand corner No one back at support. What's the 30 minute time frame chart doing? Well, this confirmed erodesment of indicator bottom It did it right here about an hour ago But let me give you the exact time was this bullish engulfing candle at 12 30 Yeah, that's about an hour hour and 15 minutes ago. You're inside a bullish structured profile Price should target as long as price closed above 1785 and it does it at 2 p.m Then what gold should do is we should see a rally to 1790 1790 is the top of its 30 minute profile as we expand out the 30 minute profiles out here How often do we see price closing above the top of the profile for a 30 minute basis on the way down? And there you have your answer. We don't So what does that tell you about goldilocks? That tells us that should this pattern continue if we do see a close above 1790 That's going to be our and certainly too consecutive close above 1790 That's going to be our first indication that gold may be bottoming. Hmm something to think about Let's go take a look at the next time frame the next time frame would be a 60 minute time frame chart Do I have a bottoming signal here? Well, I've got erodesment of indicator signal triggered But I don't have any kind of bullish reversal candle So that puts us back to the 30 minute time frame as the key area for us to watch The same really for the 120 the same for the 240 But while a lot when we get to the five hour time frame chart Now I like this the 30 minute and the five hour chart providing us with the signal Why because the 30 minute is a longer term chart out here This completed a TD nine count bottom and I did it at nine o'clock this morning And now we've got the two o'clock bar and as long as price does not close below 1780 390 We're above that right now by three bucks as long as price does not close above that level That's a signal of a bottom as well in its case This would be signaling to you and I that price should make its way to the 1818 type area So here's the call for gold if we see gold close above the top of its 30 minute profile No idea whether it will or it won't it's only five dollars away But if we do see it close above 1790 and certainly two consecutive closes Then you should expect and anticipate that gold will go target the 1818 level And the reason that I just simply focus on these two charts is because they're the ones with the bottom signals And so it's about staying with inside their chart patterns to help us understand what's going on So, uh, yeah gold's got a potential bottom out there if I were to dive down into a shorter term time frame chart Such as the 15. Okay. I'll do that. Here is the 15 minute chart here for gold What does it show us rogment indicator bottom signal here its key level is 1793 and it says a close above that would be 1808 so uh, yeah kind of all fitting into the scheme of things here. So in gold watch 1790 and watch it at 2 pm Another 11 minutes from now if we see a close above that that is moved to the upside Uh, the uh, by the administration releasing some uh oil from the from our reserves, right? But what did that do to light sweet crude? Let's go ahead and pull those charts up here Remember when you and I take a look at Any day for the most part and we hover over a candle or a bar There's nothing that'll pop up to tell us what news event might have taken place So all you and I do is we just simply really trade patterns out here at least that's what I do So when we take a look at light sweet crude, we take a look at the january contract on this daily time frame out here This doesn't show the new profile that is attempting to form My apology, but we did take a look at that. I think during the update But here the light sweet crude has even though it's got that top that roads meant to medicated top Nothing's really broken here price would have to close below 74 25 That's the td9 breakout level in order for there to be any kind of an issue out here You can see the bottoming signals inside of light sweet crude That was before the release of information for the most part about the release of the reserves that we've got out here So nothing really changed there lights. We crude just did what it was going to do now resistance here Well, I can't really give you that resistance from that chart, but I'm just switching over to my other chart right now Resistance is really at 78 90 to 809 That is the top of its bearish structure daily profile that is attempting to form won't have confirmation until tomorrow But right now we use the data that we've got steve roads with tfnn We'll be right back 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 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 basal 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 and stock prices Get the opening call newsletter by basal 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 Are you looking for a secured investment which pays you on a monthly basis the target first mortgage program Maybe the program for you the best rate on a five-year cd in the country right now According to bank rate.com is paying one percent per year or one thousand dollars per 100 thousand dollars invested The target first mortgage program pays seven percent per year paid monthly on secured high value Buildable properties in st. 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I'd say it's been up since uh, march 20th out there, but march of 2020 and So I believe we are building cause to take another big leg up with all this inflation and higher Rates talk out here. So here's what we know We know so the real key level out here. I'm just going to get right to it. Hector is going to be 4880 That is the top of it's a monthly profile. That also happens to be the td9 count threshold level That was formed on september the first that was a td9 count. That was the bar Oh, hold on a minute here. I take that back. I take that back the actual level Okay, I agree with you the actual td9 count Threshold level was 4774 and price closed above it last month No, it didn't 4782. How about that? It didn't close above it. What a close with 4782 the high was Oh did 4774. So in this case here Um, Hector, it's just you've got to get price to overcome the top of that profile And that's at 4880 price above the top of the weekly price above the top of the daily profile out there And so what you really want to do is understand. Hey, what's going on, you know with the top holding So I believe it's crown castle and corp cci is the number one holding then you've got equinex public storage Simon property group out here. So in the case of crown castle, the number one I believe it's about an 8% give or take waiting in here price of consolidating inside the daily profile You need to see a close of a 180 494 If you can get that then you're going to look at 180 708 in a round above 180 708 should take you to 204 So I'd watch crown castle that'll provide you with some information. The next one is eq ix out here Because these this is where eq eq ix this is where you're really going to get your your movement to the upside So Hector just do that go take a look at those top five instruments or so See what they're doing. They're the ones that would really provide us with the overall signal I believe for the xle folks stay tuned. You've got two more great hours David white with the power trading hour. Tom will brine. He'll take us on home I'll be back with you on wonderful wednesday. Have a terrific tuesday folks. And thanks again for being here