 The following is a presentation of TFNN, The Trader's Edge with Steve Rhodes at 1-877-927-6648 or internationally at 727-873-7618. The Trader's Edge. Now, Steve Rhodes. Good morning, folks. Welcome to the August 17th, the terrific Thursday edition of today's Trader's Edge show. I'm your host, 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. Now, the easiest 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 circumstance that life is going to toss at us. Now, today, you and I, we're going to go check out 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 at just past 11 o'clock in the morning. I want you to know I'm absolutely grateful for your presence here, but even more important than that. And that's this. During this next 53 minutes, I am here to serve you. So feel free to pick up that phone. I'd love to hear from you at 877-927-6648. Now, if you can't call it, but you've got a question, you can always send me an email. Send that off to Steve at tfnn.com. And inside the subject heading, please put radio show question. And of course, if you're inside our tiger's den, well, then any and every 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 we've got a slightly mixed bag. This slightly mixed is coming from the New York Stock Exchange and the Dow, both those trading to the upside slightly. 18-19 points for the Dow. That's flat. 44 points for the New York Stock Exchange. That's up a quarter point. New York Stock Exchange is working off its oversold condition. Spot follow today is still well above its 50-day exponents moving average, turning out 17-09. That is not good for the equity markets out there. You've got gold off $3. Silver is up 23 cents. That's a 1% move there. Like we crude up 1.7% or $0.39. Trade out 80-41. Trying to take on resistance. The bottom of its profile. Natural gas is up 4 pennies. Trade out a $2.77. A 30-year treasury is back 18 ticks. So you print out 1.18.25. Lead the charge. Dollar-wise, the upside. You've got Moderna, about 6 bucks, 6%. Thermo Fisher, 6 bucks, 1%. BlackRock, 6 bucks, less than 1%. Lamb Research, 5 bucks, about 8-10%. Chesapeake Energy, 5 bucks, 6%. To the downside, it's Mercado Libreoff. $26 a 2% move. Knights Limited, 80-hour down 20 bucks. A 10% move. Cigna is down 6.5%. 19 bucks. 19 bucks for Madison Square Garden. That's a 9% move. Inspire medical systems off 6%. 14 points to the downside. So we've got some movers and we've got some shakers. Let's begin with, let's begin with, you know, let's begin with... I don't know, Stevie, what do you want to begin with? Well, first let's take a look at dimension New York Stock Exchange. It's oversold condition. I mentioned oversold. I should have said extreme oversold. Yesterday, this advanced client oscillator got down to the minus 250 level. Got down just below that. So you're looking at panel number 3, whether it's 3 up from the bottom or 3 down from the top out there. So really, we called the center panel out there. It says advanced client oscillator over on the left-hand side. You'll see other instances where the oscillator gets down to that minus 250 level. For example, July 19, 2021. What did that lead to? That led to a big, nice rally out there. In fact, we got above the prior highs. The next time we got down towards that minus 250 level, that was back on August the 19th out there. Same kind of outcome. When we were back below the minus 250 area, this is back on December 1st of 2021. Same kind of immediately jolt to the upside. Then we have these other patterns that can form out here. And the other patterns that I'm referring to are when we get a lower price inside of... Let's take an example of the bottoms made back here in the September 2022 timeframe. We had price get down below the minus 250 level. And we had lower lows. But what we had also is we had a rising price oscillator. So that's a divergence. So there's two different ways that this advanced client oscillator will generate this oversold, work off this oversold territory and two different types of patterns that could form out here. Right now, the one that we've got is one that goes back into the 2021 timeframe. But it's still very early in the day out there. The important thing to note here is that we... And we'll take a look at New York Stock Exchange, advanced client oscillator. You can look at how the markets have responded when price got down to those levels. And that says we're going to see a counter trend rally. It doesn't mean we're going to see it today. It does mean though we are going to see as this oversold condition gets worked off. I don't know which of the two scenarios it plays out. We'll certainly know that. We'll take a look at this together. But absolutely, we are in extreme oversold conditions. When we match that up, we're also in a little bit of a precarious position here because we're... But we potentially could be getting a change in trend. Now, that change of trend, let's take a look at the weekly timeframe chart. What do you mean, Stevo? What I mean, Stevo, is we're going to go ahead and open up just the NQ charts. Now, what I'm using out here is I'm using my synthetic symbol. You'll see it's got a little squiggly line and an NQ01 and a question mark or a high explanation point out there. This just provides me better tools in a continuous contract and I can provide you now with support resistance levels as opposed to just looking at the September contract where all this data has been stitched together. Now, we might actually have the same thing. If I take a look at the same point, let me just see if we do on the weekly chart, yeah. On the October contract, it's 14.865. On Stevi's synthetic contract, it is at 14.865. Okay, so that's a beautiful thing. What I'm referring to is if you take a look at this weekly chart here, you will typically, well, if we take a look at coming off the most recent bottom out here, that most recent bottom from October of 2022, we haven't seen any clothes below the bottom of a weekly profile. So should we get this tomorrow? Not necessarily today. Again, that number is 14.865. That would be signaling to you and I a change in trend. And what is typically an unfavorable seasonal time period that should take us lower, lower into the October timeframe. At least October could be into the early, late January timeframe as well. But those would be the two different price target areas. So this is really key about trying to understand are we going to change the trend or are we going to change the place where the dipsters will roll in here. What I don't want you to get too caught up into is if we should expect some buying as it works off that oversold condition inside the New York Stock Exchange. If we take a look at the other three equity future contracts for their daily timeframe, and you can see I've got trend lines out here. So this little rising trend line, I know that's been broken on the NQ I'm still looking at. In the case of the ES mini, it did complete a weekly sell the D point pattern. Its key level of support is 43.77. In the case of the Dow, the interesting thing here is it just ran into trend line resistance, weekly trend line resistance as we can see. But prices still holding strong. It is trading above the top of its weekly profile. The real key level on a counter trend move, meaning that the Dow would want to trade higher where it would find support is between 34.619 and 34.823. We're 34.849 as we speak right now. The key level for the Russell 2000 you would say would be the bottom of its weekly profile, and that's at the 18.44 level out there. So it's all about the NQ. And if I just do real quickly while we've got a few seconds before we go to the hard breakout here, I'll just put up the interday charts for the NQ. And then we're going to go take a look at some of the requests that have come in. But here are those interday charts. The 10-minute chart of all type frames that is really providing wonderful signals here for the NQ. And this is why I've been paying attention to folks. The 10-minute chart. You've got a nice TD9 count top leg to a TD9 count bottom price running right into resistance at red oscillator and change line. Not until price gets above that could any kind of rally, and it will be right now. Currencies, commodities, and bond markets are as important as ever right now with how they're driving the volatility in equity markets across the globe, which is why it's a great time to try out Teddy Kegstad's Tiger Forex report. Teddy Kegstad breaks down the Forex markets every Monday using his 30-plus years of experience as a trading veteran of futures, Forex, stocks, and options. Teddy releases his weekly Tiger Forex report every Monday morning with coverage of all the major currency pairs, the Eurodollar, Pounddollar, DollarSwiss, DollarYen, as well as many more, and he also has weekly coverage of the crude oil market and the 30-year T-bonds as they both influence Forex markets tremendously. 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If you're not satisfied, let us know and we'll get a full refund within 30 days of signing up. www.tfnn.com Educating Investors 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 TFNN all our newsletters come with a 30-day money-back guarantee so you have absolutely nothing to worry about. Visit tfnn.com and try Mastering Probability 30 days risk-free today. TFNN Educating Investors Toll Free at 1-877-927-6648 internationally at 727-873-7618 Welcome back folks. Let's get to our first question. First question coming in this morning from Tom G. He wants to take a look at a potential long position in U.C.O. U.C.O. is the Bloomberg 2X. I believe it's a two-time pro-share for being long, Lightsweed Crude. So I've got the U.C.O. charts up on my screen but each of you know what's going to come out of my mouth next or sort of what's going to come out of my mouth next which is for us to take a look at this chart is somewhat futile because we really need to look at the underlying instrument and that is going to be Lightsweed Crude. But with regard to what's U.C.O. doing it formed a nice roadsman to what back inside his profile today has rejected that profile. It's back above it. Yeah, that's perfect there Jimmy D that's a perfect screenshot of that and price is now trading above the top of its profile and so the U.C.O. chart would be communicating to you and I that as long as price remains about 2095 it could be setting up a move up to 3129. But now let's go actually take a look at the underlying instrument and see what the heck that is communicating to us and that means we're going to go take a look at Lightsweed Crude. So switch over to those charts here momentarily we'll have a multi set of panels we've got all different types of timeframes to look at it in the case of and again we've rolled over into the October contract you might want to go take a look at see what's inside U.C.O. but I should be October contract or it should be by the end of the day here we can see that the October contract for Lightsweed Crude price is trained above that green awesome change line but it's got resistance in the 8477 8831 level. Lightsweed Crude would not go ahead and break out until we get a close above 8831. The weekly time frame chart shows what well it shows no topping pattern is I can't really draw an A to B equal CD out here. What it really shows if I just simply go ahead and expand this out maybe expand out the chart as well this way what we can see out here is we can see that price is basically I can do this this way. It's basically gotten up to this prior set of swing points out here and sort of there's kind of a straight line so it's really right back up to another area of resistance then hit it exactly that's okay so price is running in that resistance there at top so I want you to pay attention that's on the weekly chart on the daily time frame chart what we have out here is we have a roadsman to indicator top that was confirmed with a bear sash candle yesterday was a close was the second close below the bottom of its daily profile the bottom of that daily profile is priced at B66 so we're below that and prices still that we've just had a counter trend move up to that level if price were to get inside that profile that I could see potentially or I could say okay you want to take a long trade in there that at least this is making sense for that instead what we have right now at 1121 is that just a little bit of a counter trend move I don't have an A to B equal CD to the downside or anything like that to draw in here what I do have is prices below profile support as long as that remains out there Tom price could be targeting 74 38 it's teeny nine count breakout area I'd watch the 30 minute chart the 30 minute to 60 minute chart I'd watch them for clues now the 30 minute chart is already completed is teeny nine count top that suggests a price should at least pull back to its oscillator and change line which at about 79 93 now 79 88 is the top of the profile that's your range for support on a pullback on a retracement you'd like to see price hold that level if it does that mean it's bullish at least intraday it would be bullish on the daily time frame the larger time frame right now and not so sure about that the the 60 minute time frame chart is going to complete its teeny nine count top at 12 noon that to suggest a pullback to support now if the move lower on an intraday basis Tom is only a counter trend move next I'm speaking with Hector as well because he's interested as Tom is in the XLE we're going to go take a look at how correlated those two instruments are so we really need to in order to trade the XLE you want to know what's going on in lights we crude because it has an impact or you'll see that it has an impact so here what we'd be looking for is on a pullback in lights we crude on a 60 minute time frame if it's only a counter trend move to the downside and it's getting ready to somehow try to reestablish its bullish ways price will find support between 79 50 and 79 71 and I'm referring to the body the candle not the intraday signal and that hourly time period out there so we've got two TD nine count tops one that's already completed one that's going to complete you should be expecting to anticipate that lights we crude will pull back out there but is it a long I think at this stage here it needs to prove itself to us and that first proof is going to have to come from getting back inside its daily profile and you've got the number there so I would stay away from you CEO at this stage of the game now if I take a look at that was a September let me change this to 23 if I take a look at days consecutive days lower consecutive days higher you know it's a great tool out here what we just saw was three consecutive moves lower in lights we crude now coming off of the low out here for lights we crude the law I'm referring to is one from May of 2023 we've seen one and we've seen only one three-day move lower the rest of them two day moves lower out here so it is not unusual to see at least this counter trend move could it be a bottom it could out there but if it is going to be a bottom it's going to need to at least get back inside that profile of I don't want to beat that dead horse out there I think I've beaten enough but I think you kind of have the feel with regard to you CEO but more importantly what is lights we crude communicating to us so now let's go take a look at those XLE charts well actually before we do this I'm going to close this out close this out I'm going to change screens I say I'm going to do it I am going to do it and then we're going to go look at the correlation before we go take a look at the energy sector the XLE so here we'll get back to the black background screens I'll get back to my correlation set of charts out here and here we take a look at the uh the October contract for lights we crude again you can see that bottom of that profile out there that's at the 8066 level and below it is the energy sector the XLE and below that now I've got this set to a three-day setting so this is as strict as I can get it to when bars are above zero it tells us about a directional correlation when bars are below zero it tells us about an inverse relationship I think we can say that there's about a 98% directional correlation between the way that XLE is going to trade and lights being crude out here now in the XLE what we can see is prices trading into its barest structured daily profile out here so I would never suggest that you take a long position in the XLE at a price running into where the sellers are located the sellers in the XLE are located in between $88.99 and $90 even Steven it still could be a bottom but it's been very difficult for me to tell you that now is the time to sell into it knowing that lights we crude can't handle resistance and that the XLE is trading right into resistance so that's what the black background chart is telling us that's what the correlation is that's out there now let's go change over to the white background charts let's do this once again it's all good today no demerits yet for Stevie I'm sure that I will get one but now let's take a look at the energy sector and we take a look at the energy sector out here we can see again the same thing that we're looking at it's a positive or the slight positive is right now a price above that green oscillator but still trading into resistance on a weekly basis we can see the weekly top of its profile that so far is acting as resistance the monthly charts got a TD9 count top but just a consolidation with inside the profile there so let's look at a 30-minute time frame chart let's see what the oh let's go the same thing that we took a look at on lights we crude we took a look at correlations out there you had three days moved to the downside and lights we crude well guess what the energy sector the same thing and like lights we crude since the low that formed out here back into June of 2023 what we've only seen out is we've seen one two three three bar moves to the downside and then we've seen rally so we could be seen here in the energy sector well at least a one-day rally but more likely a two-day rally out there just know that this thing is trading into resistance out there so I think we have covered that on a 30-minute basis real quickly before we go to this hard breakout here it did form a nice TD9 count bottom Roach meant to be the cater bottom too with price struggling at its second TD9 count breakdown resistance level 89 buck a rune so Tom and Hector I hope that that helps you out although Hector I believe you had a question about that bullish morning star we'll be right back and I'll answer that old report as a precious metal gold is still king it continues to hold the most effective safe haven and hedging properties across the global major trading hubs of the London OTC market the US futures market and the Shanghai gold exchange the gold report Tom O'Brien publishes his weekly gold report every Monday morning for subscribers consisting of coverage of the XAU HUI the X, the dollar, bonds the South African Rand as well as 25 different mining equities with specific buy-sell recommendations the gold report new subscribers get a 30-day money back guarantee so you have nothing to risk subscribe to Tom O'Brien's gold report newsletter now at TFNN.com TFNN has been educating traders for more than 20 years with live programming hosted by a variety of professional 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TFNN airs live financial content streamed live on TFNN.com and TFNN's YouTube channel with Tiger TV live every market day from 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 can listen to TFNN live on your mobile device 24 hours per day go to TFNN.com then hit watch Tiger TV that's TFNN.com then hit watch Tiger TV folks so Hector's question is hey we've got a bullish reversal candle today Hector the body of yesterday's candle was just too large and closed too far below the prior bar the prior body of the prior candle out there and that was too much so it's not a three river morning start that's going to look more like something if you look on the bottom right here on this monthly chart you'll see how you've got a very small body candle and then so that's more of your three river four river five river depending on how many small body candles that you would have there so but you do have a bull separating line so you still you do have the bullish reversal signal but is that enough to suggest that this is going to take off to the moon first you're dealing with resistance on the weekly and the daily no top but you're trading into that resistance zone so I don't know how to answer that question because I don't know could it be it most certainly could but then I know you're also I think you're already long so I wouldn't exit my position because we don't really have a top out here we've just got consolidations going on inside of profile levels but is that enough of a signal to say we're headed to the moon no just says it's enough of a signal to take on the resistance zone so hope that that helped you out with regard to the XLE that was for Tom G and for Hector sat P inside the Tigers down he wants to take a look at Saba because Saba science is out here and he's looking for a bottom and the bottom might be right here right now today so this is an easy trade for you if you want to take it why because yesterday was a completion of a TD nine count bottom so it's trading at 1715 if this closes below 1709 you know to exit the position doesn't trade below it closes below it so your reward risk doesn't get much better than this we are also in wave number seven that's letter G that pattern cannot be confirmed until we have a higher low that would be tomorrow so if you're looking for patterns that could get you into Saba well this is it and if you're looking patterns to get you out of Saba this is it because you get a close below the bottom of of yesterday or the close below yesterday's low you would jettison that position so it's a pretty small risk out there now what price should do is it should bounce up towards the oscillator and change on it's a test resistance that's currently 786 on a rally that will move higher and the bottom of the profile is 1802 so I'd say that the 1802 level is your first target now we look at a weekly time frame chart here for Saba nothing looks good we're trading back into it's three river morning start pattern just a coincidentally out there it's trading into a swing point that takes you all the way down to the 1613 84 level on a monthly basis it's not looking good but you're trading into a TD 9 count bottom from back in July of 2022 out there so it doesn't mean that this pattern won't work or you won't get some type of mover or counter trend move out there but those are the parameters you were looking now we can go look at it in a short term by 30 minute chart it's the only one that I've got present we're looking for confirmed signals here on the 30 minute open this up here you actually have it you've got a bullish and golfing camera that confirmed a rose momentum indicator bottom pattern and now you're trading with that a profile level so support is down at the level on a 30 minute base at 1706 resistance 1732 out there to be clear 1732 1823 would become it's 30 minute price target but we know at 1802 1786 we've got daily resistance area so that's on Kasaba Sciences sat P I hope that helps you out I know you wanted a two for and that two for was LIT so let's pull LIT up on our screens out here in LIT is I don't know what it is it is the global X lithium and battery technology ETF out here and here you're also looking for a bottom now here's bad news and the bad news is that this negated a TD 9 count bottom pattern two days ago and so we don't have a bottom you're trading below I've got a nice weekly TD 9 count top and out prices below its breakout level of support is below the bottom of its profile it's trading below a hammer candle from back in April so you've got some different support levels you're trading into on a weekly base the swing point from January 6 that is 2.7 million shares so far for the week you have done or this is on 2.2 million shares so this is pulling back in that swing point it looks like perhaps with some volume on a daily basis what does this do yesterday we did so yeah it's pulling back with volume so it's likely going to go tag that low don't know for to hold that low but that could be if a test and rejects I would say 57-56 on lighter volume that could be an entry into it the monthly chart is saying it wants to go tag the 54-88 level the point is or the point that I want to make here is I don't have any kind of signals inside of LIT that suggests that you take a long position inside this lithium battery ETF now on a intraday time period you know even the bounces have run into resistance that's been at the top of the profile levels for the most part 58-24 is the current profile level inside of LIT for it's a 30-minute time frame so I'd stay away from this one at least at this stage of the game let it test that weekly swing low out there and then let's take another look at it so I hope that helps you out Sad P Nicholas wrote in and Nicholas wants to take a look at the seasonal chart for Goldilocks so I'm going to change screens here to do that just so I don't for whatever reason when I put that up on my other screen here it shuts it down that's a weird thing isn't it but it is what it is and I know about it so I'll plan for it so now we're going to take a look at it I simply wanted to take a look at the seasonal cycle and what Nicholas would have picked up before the last time he thought that August and September were bullish months so that price could top out in those time periods so this is a 55-year seasonal pattern for our Goldilocks the red vertical line tells us where we're at right now I've detrended this so it just helps us clearly see where the bottoms form where the tops forms out here we are in the favorable seasonal cycle that began really all the way back here in the July time frame but Goldilocks form those TD9 count bottoms and it negated it and so we're in the favorable seasonal cycle but it's not really participating but to answer your question specifically July, August and September over a 55-year period on average have been a positive or a bullish month and yes typically then we get that sell-off from September into October and then we resume higher when it comes to Goldilocks so a good memory on your part Nicholas here's that chart again now that's a 55-year period of time somebody might be saying I heard a ping in my ear I didn't really hear one but I'm thinking there was one somebody said hey Steve 55 years can you give me something shorter we give you anything you want well we can't we sort of could I don't have the time to but here's the 10-year cycle the 10-year cycle says that Gold doesn't really top out till August 28th now we aren't moving higher into that so I'd say that's not really the pattern play out here a 15-year time period says that we move higher into September 4th that doesn't seem to be working out right here so anyways those are the seasonal cycles for Goldilocks for the 10-15 and the 55-year time frame out there so I hope that helps you out done Nicholas the next request coming in from John C inside the Tigers Den and John is short Apple and he's looking for levels out here so now let's remember to go back to the white background charts let's pull up the Apple charts and let's change the screens a wallah smooth as can be now we take a look at the Apple charts out here Apple let me just open up this daily chart let me hit one more button here so Apple here we go Apple negated its TD nine count bottom pattern it's negating it right now today so the low for it that pattern 176 55 yesterday's close 176 57 well today it's negating that signal out there so where's price headed to we can see that Apple is right now trading below its weekly support level so that's the first dairy for you to pay attention to that's at 175 31 John see what I don't know even though price is trading below it will this hold by tomorrow don't know the answer to that that's first level the second level on a weekly base is 170 42 there's no other level on the daily time frame just yet for us to take a look at that next level is way down there 137 so let's settle with the next levels are between 168 79 172 and 175 31 let me know if that gives you the information that you're looking for Steve Rhodes with TFN will be right back 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 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Perspectus 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 4-side fund services LLC this program is brought to you by Vista Gold traded on the NYSE American and TSX under the symbol VGZ folks so we're taking a look at the stock charts here for elephants healthcare ELV is the ticker symbol and this is for David in Panama City so his first question is is September week so to answer that question I'm going to go back to those black background charts we'll come back and take a look at these stock charts out here let me answer this question specifically right away and we'll get back to our season next charts out here very cool tool let's see how much data we have we can go back 21 years so here's the 21 year chart for elephants and the question is is September week well when we take a look at the seasonal pattern over this 21 year period of time September and February are the two weakest months of the year or have been for elephants health so the answer to that question is yes if you look at the seasonal cycle out here we can see that we are right at where prices start moving lower out there usually there's a pullback that last through about the end of August and we see a little bit of a rally into mid-September and move lower into the middle October timeframe before it starts its rally for the remainder of the year so the answer to your question is September a week month we just saw that answer there that was easily identified that's 21 years let's go to a 10 year period of time and 10 year period of time is really showing us the same thing in fact over 10 years September has been the weakest month overall so you've got that piece of it Peg now will it actually do what you think it's going to do because the question is will it actually fill these two gaps out here so I'm going to stay on the black background charts right now so the issue that you've got with regard to it first we can see that support is sold so the last gap was up with 2.6 million shares don't look on an average day this does about six seven eight hundred thousand shares doesn't do 2.6 million shares the first sign of strength is right back here here's the second gap really was the first gap that David's talking about July 14 2.5 million shares even on this pullback right here 711 thousand shares this is on the trading session testing that breakout level testing the bottom of its daily profile support at 4.611 and was pulled back on 938,000 shares so right now it's not giving you the volume metric that you'd like to see for it to pull back can it fill the gap sure it can but it hasn't doesn't have the volume here right now what you've got is a good old fashion consolidation but you're headed to that seasonal cycle out there and as long as price doesn't close about 4.895 which I know you would jettison your positions there if we were to get up to that level but that's where price would have to get above close above in order to suggest that this is on its very way and in fact that the C point of an A to B equal CD was a low so far from August the 8th out there that's not the call that we're making but that would be the call we'd make if price closed about 4.895 so will it fill those gaps I don't know on the weekly base you can see prices pulled back there's no top out here but prices pulled back let me see if there's a trend line I mean I can draw one in but I'd just like to use my automated tool let me just turn that on see what that picks up and detect so you've run into trend line resistance out here but that's it but price is also up above the top of its weekly profile so you've got bullish and kind of resistance if you will a message there and you've got a good old fashion consolidation inside of the monthly profile so I know that I at least answered your question September week month traditionally historically it has been whether it's over the last 10 years or the last 25 years out there maybe it was 21 years so David I hope that helps you out that is the best that I can do let's go take our next request that came in here and that is from ELO and he wants to take a look at high grade copper so I'm going to get over to we'll go take a look at the copper trades out here now in the copper September is still I believe September is the active contract but it's rolling into December over the course of next day or two out here so I've still got the September contracts up on my screen well they're not on my screen just yet but they will be here momentarily so now we've got the high grade copper charts up here and what do we have so on a daily basis you've got a nice TD9 account bottom that formed two days ago and so far that level is held price also this morning tested its TD9 account breakout level of $36.38 so I'd say as long as price remains above $33.63 $36.38 $3.63 price should go target that oscillator and change line and that's up at the 375 now it's red a price test rejects your red oscillator and change line that's a bear signal it tells you for that timeframe the daily that you would have a falling price oscillator below zero so the daily is kind of we'll call it neutral at the moment the weekly is consolidated with inside his profile so you've got to watch $3.62 a close below that would signal move back to $3.30 the weekly monthly timeframe chart shows that prices back inside his profile and if this area fails $3.68 that could send us back to the $3.33 area out here intraday what do we have set up your below profiles on the 30 you're trying to get back to test support after a TD9 account top on the $60 so I pay more attention to $60 $3.680 is the first area of support a close below that brings $3.67 into play and below that $3.6355 is trying to form a bottom that's with the two hour the four hour and the five hour are communicating to us and the daily obviously is telling us the same so overall watch the intraday charts for the pullback you've got that TD9 count I'd really be paying attention to 60 minute timeframe chart at this stage here the message is somewhat bullish but it needs to really play out a little bit more other than it has so far so you were looking using your yellow using September I think you just wanted the parameters so I provided you with the parameters most certainly for September let me just change to December here for the daily timeframe let me just see what pops up here see if there's anything else that I can provide you with information on and the answer is it's got a TD9 account bottom as well it says that its price target is $3.78 so that was high grade copper I'm just going to change this back to September for the time being and that was both the September and the December contracts for its daily timeframe so yellow I hope that provided you with the information that you were looking for if not just let me know and we'll get you what it is that you are looking for the next question coming in from David in Panama City it was a twofer David's got the puts on HubSpot HUBS is the ticker symbol so let's get up and try to find those charts where did Stevie put HUBS there we go that's not it let's try this there we go HUBS and the question is oh you wanted to fill the housing in this HG sorry yellow one of the housing HG yellow what's the ETF for the housing ETF that's going to be easier for me to pull up put that in the public debt if you would that would be easier for me to grab from so and I'll pull that symbol up but let's take a look at HubSpot out here David in Panama City has got the puts on that and as long as price so first was there any kind of a bottom out here any kind of bottom pattern the only bottom pattern really that I have is it formed a roadsman to mitigate a top price pulled back to its breakout level of sport didn't get all the way down there but it's held that's at 473 44 the price right now is consolidated with inside its daily profile now what it did do yesterday was a test at the top of the profile which is also its red oscillator and change line so conditions remain bearish to neutral bearish to neutral neutral because it's traded with inside because it really has in essence tested that support level and it's traded with inside this bullish structured profile so you just have a good old-fashioned consolidation going on between 487 90 and 519 07 so the strong support level on a retracement here David is between 487 90 and 498 29 the weekly time frame has a nice roadsman to indicator bottom with price consulting with inside its bullish structured profile if this were to close above on a weekly basis 5 1134 that tells us about to run to the 531 level and you close above that green oscillator and change line you're all the way back to 571 39 far 8 of a TD 9 count is likely to confirm this week but that's not a topping signal instead we had price pull back and test support David that was at 478 97 this is holding some support levels pretty well Steve Rhodes with TFN and hope you're right back if you're looking for potential trading setups in the stock market then rocket equities and options report is a newsletter you should try Tommy O'Brien delivers options and equity trades when the markets present them using a combination of fundamentals and technicals sign up for rocket equities and options report today with a 30-day money back guarantee so you have nothing to risk for all the details and to start your subscription today visit the front page of TFNN.com TFNN educating investors you might think that if you want to be successful at trading in the stock market you're going to need a crystal ball after all it's impossible to predict the future right like any endeavor in life before you decide it's impossible get some advice from the experts you might find that it's not so 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community of traders just visit the front page of TFNN.com folks we're taking a tick symbol TY that's Tri-Continentalist for Nicholas and Nicholas for prices trading below the bottom of its daily profile looks to me like it wants to go target 2712 2712 is the TD-NAC out breakout level it did close below a swing point let's see if it was with volume that's from the trading day of August 7 that had volume of 26,000 shares while this has been hydrated and that was close with 41 so there's an A to B equal CD to the downside you've got a confirmed A to B equal CD that pattern is going to look like this I'm just going to move this line over to the C point this is the approximate A to B equal CD I'm not being accurate here and that just confirms what I said earlier that price is likely targeting 2712 it's TD-NAC out breakout level now price is sitting at a level of support right now that's the top of its weekly profile and that's up at 2749 so you start moving below that that suggests a pull back to 2731 that is basically around where the A to B equal CD to the downside pattern is so that's what it looks like for ticker symbol TY let's go take a look at your second request that was for Microsoft we take a look at Microsoft Microsoft does not have a bottoming pattern here per se so where's it headed to well on a weekly basis it suggests to move back to 30759 that is the TD-NAC out breakout out level now the other area of support out here from Microsoft is going to be its weekly oscillator and change line that's at 3708 so you want to watch it's possible that it could find support but if it gets below that level close below that level moves below that level then 30759 is the likely price target lastly we'll just maybe not lastly let's go take a quick peek here here's the end Q charts we were looking at these earlier I mentioned the TD-NAC the 10 minute chart is really still providing the best signals it still has an active TD-NAC out with price now trying to get above that oscillator and change line so watch this area we haven't seen on a 10 minute basis price above that since this morning's TD-NAC out top and a close above on a 10 minute base that means 4 minutes from now above 14885 is going to suggest to move all the way up to the 947 14962 level can that just focus completely on the 10 minute time frame chart folks have a terrific Thursday be safe out there and please join me on fantastic Friday thanks again for joining me today we'll see you tomorrow