 is a presentation of T F N N. The trader's edge with Steve Rhodes at 1 877-727-6648 or internationally at 727-873-7618. The trader's edge now Steve Rhodes. Good afternoon folks I'm Steve Rhodes and this is the 6th the terrific Thursday edition of today's Trader's Ed Show. I'm Steve 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. Let's make sure we have an extraordinary one and the easiest way to do that is to always remember that life is happening for us. Not to us. Life is going to toss at us. Now today you and I we get to go check on the circumstance of these markets. We get to go figure out. What the bulls and bears. What those buyers and sellers are communicating. To you and I just pass one o'clock in the afternoon. I want you to know that I'm absolutely grateful for your presence here but much more important than that. During this next 16 minutes this show is all about you. That's right I want to be able to take a look at whatever instrument it is give you another set of eyes. Ears. You know the whole nine yards out there so give us call it eight seven seven nine two seven six six four eight we'll do that if you can't call in we've got you covered there as well you can send me an email. Like Craig did here Steve at tfn.com please put radio show question in the subject heading of course our Tiger's Den 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 last show right now we've got a mixed market out here. You've got most indices trading to the upside the transports the semis and the Russell are down just slightly out there spot follow till next is basically flat it's off two pennies trade at twelve sixty five the Dow at forty nine the S&P up nine Nasdaq one hundred fifty three points leading the charge the upside dollar wise Amazon three and a half percent or sixty three bucks Shopify thirteen or three percent Google up twelve universal display up twelve the trade desk up about ten dollars. To the downside it is a quie gin and V. down twenty percent or eight bucks Bluebird Bio off five bucks spectrum pharmaceuticals down five credit acceptance corp off five so there's some stuff to look at of course I want to look at what you want to look at let's go to the first request out here this coming in from Craig via email Craig writes in let's see Happy New Year well Happy New Year to you as well thanks for the nice wishes. Would you take a look at AXP for the intermediate term. So let's go take a look at American Express out here let's take a look at our three different time frames daily weekly monthly just see where price is trading in relationship to its TAS market profile resistance what we can see here is prices above all levels from a monthly standpoint if price can close above one twenty to twelve it will be above the top of its monthly profile so. Profile wise things look pretty good let's go take a look you wanted intermediate term let's take a look at the monthly time frame chart first we'll go monthly weekly take a look at the daily. The monthly time frame chart here pattern wise. See what we've got coming off the two thousand sixteen bottom so this makes wave number seven that's letter G. of the Chapman wave all those is not the Chapman just one element to the Chapman wave tool out here but we do see that instruments will go ahead they can make tops and bottoms at that seventh waiver letter G that's exactly what's taking place in American Express on a monthly basis prices back above. Stevie's Greenline one twenty two forty three would suggest a run it back towards that high out there or higher than that let's go look at the weekly time frame chart see if we can find any type of resistance out here on American Express the weekly time frame chart is going to show us a breakdown level that breakdown level courtesy of the TD set up nine count now when this did bottom so we got on a monthly basis you got that wave number seven. Then price makes a move lower and when it stops it does it with a TD set up nine count that was the bar following nine that qualifies and now what's going on here Eric is prices trying to make a run for the breakdown level that was one twenty seven forty six your one twenty five twenty seven so what you're looking for if you're looking for the long side of this trade you want to see price close back above one twenty seven forty six on a weekly time frame just out of curiosity what's going on in a daily chart out here for you the daily chart for American Express shows us what shows us not much shows us maybe an A to B equal CD pattern that would be underway that pattern would look like this your eight points starting down here at a low in October B point out here in November one twenty two forty three pulls down into a hammer candle about a point six one eight it was a sixty eight percent retracement price has made that one to one move out here price above Stevie's green line so everything looks really pretty good resistance is the weekly time frame chart that's what you're going to be watching Craig for your intermediate term time frame signal I hope that that helps you out thanks so much for writing in let me know if you need anything else let's see if we've got any other questions here it doesn't look like we do so let's just take a tour of the equity charts there were some questions that came in over the weekend weekend wasn't weekend it was just the holidays out there and I'll answer those during the and I put it all together in essence in one presentation for everybody out there this will and it will be what the what I see in the chart patterns out there to suggest that we have to be very careful about twenty twenty because it is looking like it it could be shaping up to be a bear market and it confused a bunch of folks out there and well that's good so but we'll go through we'll go through that we'll touch a little bit on the the Armstrong ECM people have written in about that so we'll just simply cover that but I want to do that when we don't I can't do it in two minutes out here but what I can do in two minutes is just take a tour of what's going on in the general markets for so let's begin by take a look at the daily equity futures contracts what do we see earlier in the day the Dow was trying to form a brand new daily profile but so far but since then that has vanished using Stevie's super Doppler tools out there that's where we get those advanced signals sometimes they take hold sometimes they don't at this stage here sometimes you feel like a nut and sometimes you don't in this case here we don't have a brand new profile things are above all the really they're above the daily the weekly the monthly and the quarterly for most of the equity futures contracts I can't really check on the Russell 2000 out here I just don't have a way to etch a stretch all of the historical data for us but profile wise nothing new out here we take a look at the equity futures contracts and their daily timeframes we can't see that the advanced client oscillator has turned down just before that 150 I'll level out here that won't really be a problem unless you get the advanced client oscillator closing below zero right now they're reading 94.64 and simultaneously the spot volatility extraded by its 50 day exponential average it's not doing that that's 1364 but with regard to the spot volatility index out here what is it doing well what it is doing as well price is making a higher high inside the S&P 500 we have a rising bottoms spot volatility index and if that pattern continues to stay it tells us of of an impending retracement now maybe that retracement is nothing more than a two or three day knee jerk reaction or maybe it's something more than that only time will tell but one of the ways that you will be able to tell is where is that spot volatility is trading in relationship to that 1364 level right now that's the 50 day exponential moving average so that's what we've got going on right now in the markets we get back from this break we'll try to answer the 2020 question out there even though it's still 2019 so stick around of course I'd love to hear from you 877-927-6640 we'll be right back. 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Den the Tiger's Den is a lively community where professional traders and investors can meet exchange ideas and information in a comfortable moderated atmosphere here all the TFNN shows plus see all 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 or on the front page of TFNN.com we'll be communicating investors call now toll free at 1-877-927-6648 internationally at 727-873-7618 welcome back folks so let's begin let me this is this little presentation so to speak as I take you through some different charts and graphics out here it's really to help us understand 2019 what patterns are we taking a look at there's no question hey look it began a year ago today not the entire bull market but the 2019 bull market began on December 26 of 2018 by the way we went long my subscribers and I went long that morning and we were using the TD nine count tool as the as the signature that the market was going to go ahead and it was changing trend not no idea that was moving higher and through this December 26 but there's no question that 2019 has been the year of the bull worldwide now I say worldwide what was a timer digest slide I'll go back here Bill is asking a question so you know in 2018 I was the entire 2018 timer of the year was number one for the S&P number one for the for bonds out there Treasury bonds through December 21st so for 2019 so through December 21st which would be December 22 of 2018 through December 21st of 2019 I'm still in the number one slot I don't know that I'll make it to the market time of the year for 2019 but really not doing too bad it's a clearly this was not just a one hit wonder so to speak out there so Mr. Bill that's what that slide was about but back to 2019 the year of the bull now we know I say it's the year of the bull worldwide just simply if I take a look at the way that in a major some major instruments are trading in all currencies out here now not all currencies are primary currencies are the US dollar the Euro the yen and the Great British pound out here now here we can see different instruments you can take a look at panel number three says ROC stands for rate of change now this is a 12 month rate of change it's not exact to the bottom tick to exact to the top tick but you can see that in essence the Dow through Wednesday through Tuesday was up about 22% of the S&P about 28% that's in terms of US dollars was up more both of those up more in terms of euros out there that was a 32% you see the DAX is up in the last year about 25% so the DAX actually outperformed the S&P 500 or the Dow I want you to you don't hear about that I don't think you hear about I don't hear about it too much out there so I want you to just note that down here the reason why is because you know we've been taking a look at a marketplace where the global flow of capital is so important and so what I want you to understand here is the big winner winner chicken dinner as we take a look at this has been lights we crude which is up about 30% followed by the DAX about 25% but all markets have moved higher whether it's gold whether it's treasury bonds whether it's emerging markets out here so in the last year you know there's been there hasn't been a a true rush to any one specific area and we know that just by simply taking a look at this charger so this has been the last month if we take a look at that bigger picture out here that bigger picture being going back to the 2009 bottom well here you can see that there has been a concentration of of capital inside the US stock market with the Dow being up 428% or 529% in euros depending which currency and it is important to understand which currency or how markets are trading in major currencies out here but you can see that just huge gigantic winner since 2009 bottom but that is leveled up in 2019 and that's an important aspect of what it is I think it's an important aspect of what it is we are looking at here now the key to understanding that global flow of capital lies in the realization that we are not alone we cannot think only as if we are the only trader out here we take a look at gold yes we take a look at our gold or silver or the Dow or natural gas or light sweet crude or you name it how it is trading in US dollars that is because that is what you and I primarily use to pay for the things that we purchase but if you are sitting over in Europe you are using the pound or you are using the euro out there you are using the US dollar as well and so we cannot you must always realize that we are not alone when it comes to trading and investing you see everything is connected everything is inter is so everything is connected in an intricate dynamic non-linear network where the slightest change the slightest change in one region can set in motion ripple effect of dynamic proportions around the world which is what creates that global flow of capital and that's why this is important that's why hopefully you watch this show this is one of those great tools where we try to understand what are traders around the globe thinking of the different instruments is somebody a seller somebody is a buyer out there look the bull running gold into 2011 sell price rising in every major currency those are the green arrows out there you want to be if you are long you want to be investing in instruments where it is rising in every major currency out there now look gold is not broken out in all major currencies in fact it's got a breakout failure pattern in terms of euros and great British pounds yes gold has had a nice couple of days out there be careful I don't know how much I can state this be careful out here we don't have breakouts in gold going look at look at how gold is performed in US dollars versus the other currencies out here just simply be careful now look the positive of this is gold does not top out in other major currencies before it does in dollars so longer term bigger picture down the road this is a positive but right now if you're looking at this chart and I hope that you are and you can see how gold has failed to break out in terms of euros has failed to break out in terms of pounds out here that you be especially careful on your trade because this is what global traders are looking at now if we take a look at this capital investment capital is always moving from one nation or one region to another one as well as between various sectors so whether it's going from Europe to North America to Asia we've already proven since 2009 it has flown to North America we can take look at 2019 and say global capital has parked itself in various places out here whether it's real estate or stocks or bonds it's always moving it's important for you and I to understand where is that global flow of capital going to so the question will be is 2020 will this be the continued year of the bull or will this be the year of the bear but here's the deal the market will decide for us we just have to listen we just have to watch out there we'll see this is the this show tfn is basically all about pattern recognition traders yes there's some fundamental folks I think they come on as guests from time to time but it's really all about these chart patterns and the confidence that you do or don't have with these chart patterns this set of charts for example looks at how the markets from around the globe have been performing in terms of US dollars so yeah there's been a bull market in 2019 meaning prices for these instruments are higher than they were last year at the beginning of the year out here but are there any breakouts going out other than in the US which by the way is the upper left hand panel the upper left hand corner that is the Dow diamonds out there it is only in the US where there is a breakout that's going on point number two to write down on your pad of paper remember point number one was US was not the lead in 2019 it was the Dax in Germany even priced in US dollars and also what we can see here is there is no other breakout going on around the globe folks as we come in the 2019 into a time period where a top is made so we come back from this break here we'll continue with these slides because I think this is more important day we'll be right back I'm certain you are or strive to be one of the best of the best at everything you do in life it's the most common trait that we tigers and tigers share if you're looking to become the best of the best when it comes to managing your money let me teach you to do what most wealth managers tell you can't be done which is how to time the markets I'm Steve Rhodes author of mastering probability and for the last 12 months timer digest has been tracking my newsletter signals which have earned me the ranking as their number one market timer in 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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 we're doing just kind of a review of 2019 where we at understanding the global markets out here which is so important there are two things I suggested you write down in your pad of paper just to review those those two things were what number one in 2019 the global flow of capital is not concentrated in the U.S. the U.S. is performing well but is not concentrated here so we don't have that wind at our back so to speak right now at least we don't have it clearly as of December the 26th and we also know that hey look there's really only been even though markets have moved up in 2019 across the globe it's only the doll that's broken out everything else can be termed nothing more than a countertrend rally has not broken out above the prior highs out there and that's really important I mean this is the 2018 highs that these markets are not trading above I can tell you from year to year that is a definite definition of either a consolidation or a bear market when you do not trade above the trade above forget about close above trade above the 2018 highs out there and that's what this this with this set of charts is telling us folks I don't want anybody to get too wrapped up in the euphoria out here for 2019 I want you to have a real understanding of what's going on across the globe because then that can help you or should help you to have a better picture as to what is going on now if we take a look at the doll the doll formed its mid October bottom mid October bottom that's a seasonal thing out there actually on the fourth and what it did that's when the Santa Claus rally began that's where price came down tested the breakout level that TD set up nine count out there so the Santa Claus rally has begun price should continue to move higher we'll take a look at move higher through when and since that bottom though but since that bottom of October the third out here the global flow of capital has been also spread out throughout the globe so remember we took a look at 2019 now we're taking a look at just simply from October and you can see that the look the Dow and the S&P are performing a slightly better than everything else but not like so substantially we're talking about a percent or so not so substantially that you and I can make the conclusion draw the conclusion that the global flow of capital is concentrated in the U.S. it is not and I think that that is important for us to understand as we move into 2020 out here so when I mentioned the the October bottom typically the Dow over the last 86 years the average date as to when it forms a bottom is mid October or October 13 but what we also know is over that 86 year period of time it's January 6 where we typically see a high now we just use these dates as guidelines we know you and I have looked at 2019 we've looked at the dates for highs and lows we know that they have each derived early out here so we need to be on guard here but a seasonal high is due in January there's not anything that I can share with you to suggest that we don't that the markets don't make it there but that's where we really want to be paying attention to is whenever that seasonal highs now any depth of any retracement should want to occur is really going to be the key considering and we looked at this chart last week the the weekly and the monthly and the yearly that's right I added yearly we didn't have this last week the early topping patterns that are present when I say topping patterns on a yearly basis what I'm looking at is TD nine counts out here so what we take a look at the Dow New York Stock Exchange Russell 2000 the composite the SP the Wilshire there in bars number eight this year bar number seven out here was as of the close of 2018 we know that a bars eight nine or the bar following nine that's where we can take a look at topping signals out here this this this tool this market analyzer tool that you're taking a look at here look at all of the different longer term intermediate term topping signals it really should make the hair on the back of your neck begin to stand up I shave the back of my next I don't have any air but it still stands up by the way here's the yearly chart for the Dow that we took a look at this was as of Tuesdays and a data end of a day date out here here's my large a to b equal CD I've shared with you that I believe that the this bull market that we're in really began back in 1975 there is a island bottom in the S&P that formed back there that's what I'm going to use as the beginning of my a to b equal CD pattern you can see that the Dow from that time period has made the one to 1.618 a to b equal CD that was the twenty eight thousand five twenty level the next level to the upside thirty three seven twenty six I believe there will be a pit stop before we get there but let's just continue to take a look at the charts a monthly chart for the Dow here's where we can take a look at that roads momentum indicator pattern I watch it understand that the body so far of December of that candle is relatively small and it would be very easy and a pullback in January to create some type of bearish reversal candle and if we did get that in a monthly chart out there that's where you and I really would need to be concerned so we're going to let the market tell us but we're also not going to ignore what it is that we see going on around the globe out here on the weekly chart you can see the TD nine count out here that says we could see a higher high this week that would be the sub 10 potentially the end of it wave number seven is what it's also in that can extend you've got an A to B equal CD pattern that is underway out here so there's a number of patterns that are in play that one would want to be concerned with when we take a look at the Dow the daily chart for the Dow shows the A to B equal CD pattern it also shows a an existing roads momentum indicator top all of these different time frames have got these different signals and if the month of January forms that bearish reversal candle on a monthly chart out here well then what we're going to be taking a look at is that's the way that the market top was formed in 2000 that's the way that was formed in 2007 that is the way that the consolidation was formed in 2015 that is the way that the 2018 bear market form that's one that ended last December 26 out there we had a 20% move and if we get another bearish reversal candle folks the signal is that this will be the year of the bear that doesn't mean for the entire year well I don't know what time period it would mean one time period that it could mean I just simply go back here real quickly take a look at the seasonal if we do get it and we don't see a bottom that forms at the end of January when would be the next cycle time period from a monthly standpoint or I'm sorry on a daily standpoint when we would likely see that next bottom it's pretty simple it would be October that mid October bottom out here so really important to watch what's going on with regard to these patterns out here and especially when it comes to that monthly time frame chart now all these topping patterns are occurring at the same time as Marty Armstrong's next ECM date his next ECM date that's called the economic confidence model the date there to be watching is January 18th I don't remember the 18th there's a weekend or not out there so maybe it's the Friday before maybe it's the Monday after maybe it's an actual trading day I don't recall off the top of my head now the ECM for those of you not familiar and I'm not going to give you the full education on here but the you can do some research on your but basically the economic confidence model is based upon cycles of time as well as the global flows of capital so the way that the big cycle works with regard to ECM is a 309.6 year cycle that we're not going to live for that full time period but if he would Marty does he divides it by six it that generates six equal 51.6 year cycles and then he takes that again divides it by six that generates six 8.6 year cycles which those are broken down into three additional cycle waves out there they we don't need to really go into all the details I want you to understand the ECM is a global model it does not track any individual market I want to make sure the emails that I received out here are people are saying with certainty something is going to top in something is going to bottom out there and what the ease and all because of the ECM model out here and folks if you're making that conclusion I'm telling you with certainty you're making the wrong conclusion Marty will tell you that Marty is not even certain what it is that will top or bottom and whether we'll even be something in the stock market come the 18th of January you can see some of his waves and what eventually led to a top or bottom but he didn't necessarily know it on those dates we'll be right back if you're in the CD market and looking for a secure investment the Tiger first mortgage program may work for you the security for these first mortgages are building lots in the tax opportunity zone in St. Petersburg, Florida the tax act of 2018 set up tax free zones across the country 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 20 is 3.1% a $50,000 investment at a normal four year CD rate of 3.1% would give you income of 1550 per year or 6200 over the four year period that same $50,000 investment in the Tiger first mortgage program would give you 3500 per year or 14,000 over the four years 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latest market information welcome back folks so we're doing a review of 2019-2020 if you're just checking in now kept the archive of this you'll be able to see all the other important slides and information that go along with this but picking up from where we left off so what Martin is anticipating here inside this specific ECM date is a monetary crisis so that's what his current thoughts are. And is a monetary crisis something that's important to you and I with regard to tracking instruments and the global flow of capital? I think yes. And so reason for us to simply be on guard here as we move into that middle of January timeframe out there. But again, even Marty has no certainty with regard to an ECM date, whether it's going to be a monetary crisis or it's going to be something else out there. And you don't know that day. So you just have to pay attention, watch chart patterns out there and so on and so forth. But under the terms of, if we take a look at monetary crisis, he even goes into one step further. He's got this big repo report that's out there. I haven't read it, so I don't know what's contained in there. But when we take a look at repo, I'm referring to the terms of a repurchase agreement here. This is the easiest ability to, I think, understand what that really is all about. When I say what it's all about, it's nothing more than banks agreeing to buy securities from some other bank or dealer. And then eventually they resell those securities back to that same seller at a specific time and for a specific price. That specific price means it includes interest out there. And so if the lender, if you're a lender out there and you're concerned you're doing some short-term lending, long-term lending, it doesn't matter what's it all about. It's all about the collateral out there. And if you're uncomfortable with the collateral, so, for example, if you're a bank and Deutsche Bank approaches you because they need overnight funding out there because it's simply how the banks operate, how are you going to feel about taking their collateral versus, say, the collateral from Bank of America or someone else out there? So collateral can be a problem. And what's happened is these lenders are getting, they're uncertain about the collateral that these other banks have and is the reason why some of these primary dealers have been very careful out there. And it's the reason the Fed has moved in. Look, if you really want to understand the mapping of the repo market and U.S. dollar funding flows out there, this is about the best slide that I've been able to depict or come up with out here. But for good reason, we will not go through all of this. The important thing is just simply to understand that the global economy, that global flow of market, means we cannot think in terms of one. We cannot think only in terms of us and how our instruments are trading in U.S. dollars. If we do that, we're never going to really be able to figure out this game because everything is conducted in this intricate, dynamic, nonlinear version of a network out there where even the slightest change in one region can set motion, a ripple effect of dynamic proportions around the world. That, folks, is the global flow of capital. So will the 2020 be the bear market? Will it be a bull market? It's really simple. Most important thing for us to do is to trade what we see. Okay, Larry, one more dollar there, meaning we wait for the markets to generate their next signal and then we take action out there. But there's enough information here to suggest to you and I that we need to be especially careful right now as we approach 2018. All right, so let's go to our caller that's been on the line for just much too long out here. Let me see here. Let me get back. That was Rich in Oregon. Rich, thanks for calling. Thanks for holding. How are you today? Good, Steve. Thanks for taking my call. And thanks for it was good listening to about your forecast and what to look for. Good. Good. Good. Well, thanks for doing that. I appreciate it. Now let's take a look at something more important for you. I believe it is to assemble M. U. R. Is that what we're looking at? Correct. Based on everything that you read and hear about the oil market, the energy market, there's the world is awash in oil. Yeah, I've seen this particular stock and some others creeping up. And I'm wondering is there any life in this one other than just a short term trade? Like so, yeah, so Murphy oil. Sure. So Murphy oil as we take a look at how it's trading in relationship to support a resistance. It's above resistance on the daily above resistance on the weekly trading inside the monthly profile out there. Resistance will be 2972. You're trading at 2670. So the very first thing that you and I can do with this set of charges mark down on a pad of paper. One potential target is 2972. And that would be the top of the monthly profile. This is a bullish structured profile. Nothing right now in the charge to suggest you or I that price won't get there from and with that, you can make your decision reward risk. If that's something worth jumping into. Now, should you jump into it right at this very moment? Well, if we look at the daily timeframe chart, what we know out here is this formed a roads momentum indicator bottom. It did that on the trading day of August 28th. It did that when it generated that bull sash candle. Since then, we've got an A to B pattern A to B equal CD pattern that has unfolded. If we take a look at that, I probably not going to get this just exact out here, but it'll be close enough. If I can get this all to participate. And so the one to one level in essence is where we're trading at right now or the high of today. So it's completed a one to one. Now, that does not mean that price will not extend itself rich to the next level, which would be the one point one point two seven two area, and that would take you up to 29 15. That is in refuel. But price is also rising. Do a less relative energy out here. So this would say to me to be cautious because if we do get a bearish reversal candle out here, that would suggest price would pull back either 26 72 25 92. If price got to 25 17 that would be your buy area. But if it got below that, then you're looking at 23 67. So that's what the daily timeframe chart is suggesting. So right now we know the monthly says, Yeah, this should go higher. The daily is saying not so fast. Just simply be careful. And let's just take a look at the weekly timeframe out here for you on Murphy oil. The weekly timeframe would say that price could make its way up to 31 13. So those are your target levels between the weekly and the monthly. I think you just need to be cautious at the moment to try to enter this thing to catch the rest of that move. But that's what that's what I see in the church. What say you okay? Well, like I said, it's difficult to even decide to buy any oil stock. When the news is always saying there's oil everywhere. And you just wonder why are these stocks like a Murphy oil rising in the last you know, few weeks? Well, one thing that and that's why you think well, maybe I could jump in on one of these for a short term trade. Yeah. So look at the last what's scaring me. Right. So here's here's what I want you to here's what I want you to you're asking kind of a fundamental question, which is great. And it is as if I somehow paid you to call in to ask that question as a lead into what I'm about to say next in and we didn't do that folks. But here's the difference between something fundamental, which you're discussing versus where has been the global flow of capital for the last 10 weeks out here. And that happens to be one of the tools that we're taking a look at here. This takes look at all kinds of instruments. And here's what we know rich lights we crude has been the big winner winner chicken dinner up 14.6% twice that of the Dow and the S&P 500. So the global flow of capital has been moving into that area. And that's all that we really need to know. All right, my friend. Okay. Thank you very much, Steve. Stay tuned. We'll be right back. Since 1984, Basil Chapman has been using the Chapman wave methodology to advise traders of his expert market opinion. While originally hand drawing charts from the late 1970s into the 1980s, Basil noticed that prices under most circumstances virtually always had a certain number of legs to the upside before declining sharply. Later Basil found that computer software which included the standard market technical indicators enhance the degree of accuracy and calling price turns as well as market trend calls. Thus was born the Chapman wave sequence using the Chapman wave methodology along with other indicators Basil Chapman advises his subscribers of his expert market opinion each market day with his opening call newsletter. Right now you can get a two week free trial to the opening call Basil's daily trading newsletter by visiting the front page of TFNN.com cancel at any time during that trial and pay absolutely nothing. Get your two week free trial to Basil's newsletter the opening call today by visiting TFNN.com If you're a trader in the market looking for exposure to gold or gold mining equities, then now is a perfect time to sign up for Tom O'Brien's gold report. The summer is over. Gold is trading back above $1,500 and the 10 year treasury is hovering at around 1.5%. Tom O'Brien has been writing his weekly gold report for almost 18 years. There's no one that knows more about how the gold market trades and how gold mining equities react. New subscribers get a 30 day money back guarantee so you have nothing to lose. Every Monday morning Tom publishes his weekly gold report with coverage of gold, silver, bonds, the XAU, HUI, GDX, the dollar as well as more than 30 different mining equities. As of September 3rd gold report subscribers have five active open positions with an average unrealized profit of almost 38% for each position to see for yourself the types of profitable trades that are recommended within the gold report. Sign up today by visiting TFNN.com. You know what's cool taking something that's good for you. Something specifically formulated to help with weight loss, better sleep, stress reduction and the need to detox. Nicar hunter and gatherer ancestors found all their nutritional requirements for health in their wild environment. But today our food sources no longer contain the vitamins, minerals and nutrients our bodies need to stay healthy and strong. That's why we need primal edge daily nutrition. It includes a special blend of ionic, soil based vitamins, minerals, fatty and amino acids in an easy to use liquid form. Primal edge is powered by highly concentrated folic and humic acids nature's preferred delivery system. They've been called miracle molecules because like sunlight, air and water, life cannot exist without them. That's right page they ensure we receive all the nutrition we need to be healthy and thrive. We take it every morning. Primal edge formulated and approved by Nico and page of living a primal lifestyle. Buy it today for just $89. Click on the primal edge banner on the front page of TFNN.com. This is David White. Stay tuned because coming up next is the power trading hour right here on TFNN. Welcome back folks. So about three instruments to get through for our listeners out here. The first one is on natural gas. This is from Alex. Alex has noticed that natural gas is trading higher today. The question is, is this a change in trend out here? Here's what we know. We take a look at the natural gas first price is running into Stevie's red line. You'd like to see two closes above that. That's a 226 year 227 right now. If price does not close above that for two days and no change in trend whatsoever, there is need to be equal CD to the downside. This is the second confirmation or potential second confirmation of that pattern because of the bull sash candle out here. Alex, I'd really like to see a second close about Stevie's red line and then your price target would be the bottom of its daily profile. That would be $2 and 40 cents won't tell us if there's a change in trend. That's just simply where resistance is and if price can clear Stevie's red line, that is where I would anticipate price would target inside the targets. Then we had two questions. One was about telephonic essay. It isn't an A to B equal CD to the downside. The initial price target of 694. That's your one to one A to B equal CD. That doesn't mean that price can't move lower than that price below the daily profile. It's in between the weekly profile between 727 and 669 and prices trading below the monthly profile out there. I would say this looks like it wants to head lower. Let's wait for some kind of solid bottom pattern out there. We don't have that on the daily. We don't have that on the weekly. Today looks like it may be bar number seven of a TD nine count. 663 is another level or price might head to. That is the next breakout area. And then the last question was to take a look at coffee. I believe if we take a look at coffee that is which you've got the March contract out here. So let's go take a look at it. And the question is do we see any support the daily support for coffee now that prices back inside its daily profile John would be there one twenty four seventy or one twenty two seventy five that's a bullish structured box out there. Those would be the levels of support that I would be watching for the March twenty twenty coffee futures contract folks thanks much for being here. Thanks for putting up with my blabbering about twenty twenty and what we might be looking forward to stay tuned. A couple more great hours come up a tomorrow morning. Join me at eight o'clock I'll do record tomorrow's show between eight and nine. Have a terrific Thursday folks.