 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 afternoon, folks. Welcome to the January 2nd, the terrific Thursday edition of today's Trader's Edge show. Hope everyone knows. Hope everyone out there is having a great day. Hope you had a great New Year's Eve celebration. Hopefully no hangovers or minimal hangovers yesterday. I kind of hate those one-day holidays. It doesn't feel much like a holiday, does it? It ain't even great to be back with you to open up by 20-20. You can give us a call at 877-927-6648. We'd love to hear from you. If you can't give us a call, you can reach me by email. You can send me an email, Steve, at TFNN.com. Inside the subject heading, please put radio show question. Of course, in our Tigers dead, well, any and every ping will do. So let's go ahead and get this show started on terrific Thursday. This is Tiger Financial News Network. I'm Steve Rhodes. Welcome to less show. Right now, we've got the Dow up 182 points. That's about 6 tenths of a percent to the upside. S&Ps up 11, 3 tenths of a percent. NASDAQ 100 is a one full percentage point. That's 89 points. Whereas the Russell 2000, it's taking a break. It's down 13 points. That's nearly three-quarters of a percent. That is trading to the downside. The other indices trading to the downside. Well, it's a spot-fix index. He's trading out at 12.82. Headed lower out there. It's below its 50-day exponential moving average. So we should shouldn't see the S&P 500 continue to move higher. We'll try to figure out where it is headed to. Gold's up five bucks. Silver 13 pennies. Let's recruit us off 18 cents. Lead the charge to the upside. It is Mercado Libre. 41 buckaroonies. That is a nice move. That's 7 percent to the upside. Even nicer is NetEase up nearly 10 percent or $30. Amazon's up 30, but that is one-and-a-half percent. You got Chipotle up 14, about one-and-three-quarters percent. Now, painting the town red is Sherwin Williams. She is or he is the leader to the downside of 13 bucks. Dollar-wise that is. That's a little over 2 percent. Marati therapeutics off 10 bucks are 8 percent. NovoCure down 8 and 10 percent. Respectively, Illumina is down 7 and 2. We do have some requests already that are in the oven. So let's go to those. Michael H writes in and says, Hey, Steve, fuel cell energy. There ticker symbol here, folks, is F-C-E-L. I think I heard Basil talking about it, but it might have come from a different person, so that's interesting. Michael goes on to say, sold this on Tuesday after realizing large gain. That's great. Could you please recommend an approach for going long again? I'm going to be patient thinking this could be the start of a longer-term uptrend. So let's go take a look at fuel cell. Let's do it like we do for each of the instruments we look at. Where's the trading and relationship to market profiles? Daily, it's above. That would say, believe it or not, your support on a daily basis, Michael, is 69 cents. She's trading at 227 right now. The weekly price is above the weekly box. I'm going to report there profile-wise, 85 cents. However, price is trading above the monthly profile. That's at 236. I take that back. You are not trading above the top of the monthly profile. 236 is that level, and that's where it's run into, in essence, resistance out here. So let's go take a look at the other charts. What do they say to Mikey and Stevie out here? Well, today is going to be bar number nine of a TD set up nine count out there, as well as an A to B equals CD pattern to the upside. So selling on Friday at this stage of the game, looks like a good thing. Price did pull back. We can see into a gap to the upside. But your entry point here, a more realistic, perhaps more realistic entry point, would be around a buck 43. A buck 43 is Stevie's green line. That's what I would use at this stage of the game. That's on the daily timeframe. If price were to close below that, boy. Then we would be taking a look at the top of that daily box that I gave you, which was 69 cents out there. On a weekly basis, if we take a look at fuel cell, try to see what kind of resistance is out here. It's at $3.52. So as we take a look at a weekly timeframe chart, doesn't really show anything to be concerned about. But that daily may be driving that retracement. On the weekly, I don't have a great entry point for you, other than the top of that profile. On a monthly basis, you know, that's not going to provide you with much. So we're going to have to stick with a buck 44 at the moment. And so best of luck, Mike, and nice trade out there. Tim writes in, and Tim says happy new year. Well, happy new year back at you, Tim. XLC, which is the communications sector inside the S&P 500. And Tim's question is this. Can you please look at XLC? Is it topping or simply pulling back? So let's go take a look at XLC. Right now what we know is prices above the top of its daily profile. That was a bearish structured profile that acted as support on, I can't want to say Friday, but really that was on Tuesday out there. If we look at the weekly set of charts out here, prices above the top of that box, the monthly doesn't have enough information to let us know. So the question was, is it topping? Well, let's go take a look at the patterns out here. Let's go to Stevie's white background charts. And what are we going to see? We're going to see that this has a TD setup nine count top that's in play. And so far today, the move has been nothing more than a test of resistance. That's Stevie's green line right around the 53, call 54 level out here. However, what this has not done, Tim, so it's got the topping pattern. And when you have a topping pattern in place, the responsibility of sellers is to try to push price down to support. Well, on the daily chart out here, we can see you've got the top of the box, which price is over. As Tuesday showed, both you and I and everybody else out there, that the top of the box, old resistance, can become new support. That's your first level of support. That's 53, 43. You have a bullet structure profile. So price gets back inside that box. That means between 52, 70 and 53, 43, sellers should be able to push price down to 52, 70 to 52, 88. And below that would be 52, 34. The question was, is this topping or simply a pullback? Right now it's got a valid topping pattern, but it has not busted through support out there. And we've just taken a look at those support levels on the daily timeframe. But let's go take a look at the weekly timeframe. See what we have out here. Do we have a perfecta? Is that what they call perfecta? When you've got two horses that you bet on, I think that it is, but that could be way off the mark out there. Only bet on a few horse races out there. Just not my thing. So if we take a look at the weekly timeframe chart, this too has a TD set-up nine count pattern. Last week was the bar following bar nine. As long as price, Tim stays below that. You've got encloses below that. You've got a topping pattern here. Now in this case, price would need to close below Stevie's green line. That is 53, 06. And on the monthly timeframe, let's pull that over here. The monthly timeframe, although we don't have any market profile information, let's just see if there's any pattern worth noting out here. And the answer is there isn't. So I'm going to answer your question this way. There's absolutely two topping patterns in place for the communication services sector of the S&P 500 for its daily and its weekly timeframe. But thus far, support has held. So what does that mean? It's really more of a neutral outlook than it is anything else. Tim, thanks for writing in. Happy New Year to you. We get back from this break. We're going to go take a look at a request from Lee B. And we're going to go take a look at a request. Where's the other request coming in? Oh, it's coming in from Brent in Martinez, California. Steve Rhodes with TFNN. We'll be right back. If you're not currently using the TAS Profile Scanner when looking at setting up your trading opportunities, then your arsenal is short a mighty weapon. The TAS Profile Scanner is a standalone piece of software that instantly filters over 2,500 global financial markets such as stocks, ETFs, commodity futures, and forex. Heated by Steve Dahl, TAS understands that in today's technological world, the use of top flight software applications and technical analysis expertise is essential to successful trading in today's market. 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But when you do, you'll see a new and improved homepage with a much simpler navigation, whether you're watching Tiger TV live in high definition or just accessing your newsletter subscriptions. We even have new pricing in six months and yearly options. Check out the new TFNN.com now and experience all the upgrades. TFNN.com, educating investors. Toll free at 1-877-927-6648. Internationally at 727-873-7618. Welcome back, folks. I'm currently up 172 S&P, about 10. NASDAQ 186 points out there. So, LB writes in and he wants to take a look at the ticker symbol ACB. And can you give me a good entry point on ACB? Looking for a long-term hold. Thank you. So, that is Aurora cannabis out here. And right now, this is trading with inside a daily profile. Really hard to see it. But let me share with you, LB, that the profile 193 is the bottom and the center of its box out there. And it's trading back inside the profile. 212 is the top of the box. And so I would say about 93 is one of the levels you'd look at. Price is below the weekly, so we can't use a profile there. And it's below the monthly. So we have to find some bottoming patterns or signals out here. On the daily timeframe, I think we talked about this on Tuesday, might have been. There's really a couple of different patterns out here. There's a roads momentum indicator signal. We don't have the bullish reversal candle yet to confirm that. But we do have a TD9 count pattern. That doesn't require a bullish reversal candle out there. So you do have a valid bottoming pattern. 250 would be your resistance or your first resistance. At least that would be on the daily timeframe. The weekly, as we take a look at the weekly timeframe, what do we see out here? The weekly tells us or suggests to us that this week could be bar number eight of a TD set up nine count. Now, our preference there is that this week's low would be below last week's low. Last week was about 90. This week's low so far. This week's low so far is only 240. No, okay, hold on a minute here. Hold my horses, would you? This week's low is about 88. So the weekly is, say, an okay potential. Now, in a TD9 count, the bottom, in this case here, if it is going to form a bottom, what could or should occur on bars either eight or nine? That would be next week or the week after bar number 10. So you've got a valid bottoming pattern in place on the weekly timeframe. The monthly, you said long term out here. I'll give it all to you. The long term by level on ACB would be a buck 60. A buck 60 is the breakout level on the monthly timeframe right now again trading at 203. So LB, best of luck with you. Best of luck for you on ACB out there. Thanks so much for writing in. So Brett writes in and it looks like he wants to take a look at Occidental Petroleum, OXY or two instruments out here. So let's first pull that up and let me just do a quick scan here. Long both of these at lower price with some call options, assessment of wave counts and resistance levels and so on. So let's go take a look at those. So here's what we know about Occidental Petroleum. Let me get rid of a few things that are on this chart as we speak right now. We might have looked at those earlier for something. There's an A to B equal CD pattern. So here's what we know right now Brent. Price is moving higher. It's above the daily profile. It's above the weekly profile right now. Looks like it's going to close above that. That by the way is 40-20. And it's in a bullish structured monthly profile. Bullish structured folks, let me just expand this out. If you're new to the show or you're new to me or even if you're not new, sometimes just repeating some things is helpful. And when I say helpful, I'm going to turn off price here and we're taking a look at the market profiles. One of the things, one of the responsibilities, one of my services to you during the show is be able to help you identify support and resistance. Really key out here. When we can, we like to be able to understand is there a strong support or strong resistance? One of the ways to do that is to understand its market profile. And if price is trading within inside that profile, which Occidental Petroleum is, we'll turn price on. You'll be able to see that. What I want you to see is that we have a brand new profile that is formed out here. And that profile, that's the lower section. Let me just go ahead and just really mark it off for everybody out there. What you're going to see is there's three lines. Most of the times there's three lines. The top is resistance. That would be where sellers are. The bottom is support. That would be where buyers are. And the center is where there's both buyers and sellers. So just logically thinking here, when there's an area where there's both buyers and sellers, the center, which is at $41.95 and is closer to the bottom of the box at $39.60, well then what that tells us is that is very strong support. Now what I've also learned in analyzing thousands of charts out here is that when you get a nice close above the center of that box out here on a bullish structured profile, it's the opposite on a bearish structured, you're typically going to go ahead and run all the way up to the highs out there. Now I know you've got some call options and so this may be too long term for you. I don't recall. But this does look like at this stage, $53.69 is game on for you. As we take a look at Occidental Petroleum at a daily basis, well, it's dealing with a resistance level as we speak right now Brent. And that's the price point of $42.30. So closing above that today and then tomorrow would be positive to guess $45.76 would be on deck for you. And then as I take a look at the weekly timeframe chart here for Occidental Petroleum, this is going to show us that price here is headed to $45.42. That's your next resistance level there. So I hope that helps y'all Brent on Occidental Petroleum. We will go back and take a look at the other instrument that you requested, which was Baidu. But we've got a caller on the line and we've got call ahead seating here at the Trader Zed. So let's go out to Mark in Massachusetts. Mark, thanks for calling. Thanks for holding. How are you today? Good. I bought some puts on Apple, the 300. Okay. And I went out a month and I bought them at a little bit of a premium, but it's when the stock hit $290.50. Okay. So the question is, has Apple topped, right? So if we take a look at, yeah. So if we take a look at Apple out here, and we take a look at the daily timeframe chart, I don't have a topping signal. So topping signals or patterns, there would be like the A to B equals CD pattern. Draw that in under daily timeframe. Price moving higher doing less relative energy. It is not doing that. A TD set up nine count. So what that tells us, Mark, is that today is bar number seven. If a TD nine count as an example or to identify the top, it would either be tomorrow, Friday, Monday, or Tuesday of next week, where you would see that topping signal. So Apple gapped up today. That's a bullish signal out there. And I don't see any kind of bearish reversal candles or anything anywhere nearby. So I don't see, I'd be concerned right now taking a look at the daily timeframe chart. You may be right on the trade, but just wrong on the timing. But if you're asking me, is there some type of topping pattern out there, the answer is no. And today's gap up is a real cautionary sign. That's a daily timeframe. Let's look at the weekly timeframe. Now in the weekly timeframe, last week was bar number nine of a TD set-up nine count. Remember, on a TD set-up nine count for a higher low, in this case, we're talking about highs. If there is going to, if this is going to identify a top, then it can occur on bars eight, nine, or 10. So that's this entire week. So this would say if you're early, it would be next week on Monday, as long as it didn't make a higher, higher, closer to a higher high, where that would say, okay, potential top in place. Now a TD nine count on the daily timeframe doesn't have to make higher highs. It just each bar's close needs to be a close above the bar four bars earlier out there. So the nine, so the weekly chart says, okay, maybe you're just early by a day or so, or maybe more than that, because if next week, if this week's high, and you see a close above it next week, that'll tell us that you're definitely on the wrong side of the tradeout here. And the monthly chart out here shows that price is rising, but doing it with less relative strength, but this is only a problem if there's a bearish reversal candle. Now we're going into a breakout there. So if you've got some additional questions, hang on through that. But at this stage here, I don't see the topping patterns just yet to be short apple. All right, Mark. We'll be right. Yeah, you bet. Thanks so much for calling. That was Mark in Massachusetts. 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 the nation for the S&P 500 for the last 12, 6, and 3 months. Timer Digest also ranks me as the number one market timer for gold as well. The fact is, markets can be timed, and I'll teach you the exact set of tools that I use that has transformed me into one of the best at what I do. Sign up for Mastering Probability today by clicking on the newsletter tab on the homepage of TFNN.com to get immediate access to workshops where I take you step by step how to use an extraordinary set of tools as well as provide great market calls too. Sign up today. David uses his years of trading experience to offer his subscribers his trading ideas each morning in his Path of Lease Resistance newsletter. Using a combination of equity trades along with options, David keeps his subscribers up-to-date with all pertinent market information with intraday afternoon updates when warranted. Don't miss out on this great chance to get a 30-day free trial to David's daily newsletter, The Path of Lease Resistance, with no obligation to pay anything. David has been delivering solid recommendations for his subscribers recently, and if you'd like to see the type of newsletter he delivers every morning, then visit the front page of TFNN and you'll find the Path of Lease Resistance under Trading Newsletters. For all the details and to start your 30-day free trial today, log on to TFNN.com now. For more information on the Path of Lease Resistance, visit TFNN.com now. Now we're offering licenses available at only $79 a month. We are so confident that you're going to love this new charting software that will even give you a 30-day unconditional money-back guarantee. Don't miss out on this incredible new piece of software. Get your copy of the Art of Timing the Trade charts today by visiting TFNN.com. Welcome back, folks. Now it's up 176. S&P is up 10. So let's go back and do this here. Even though I know Mark, we were taking a look at Apple, and so I want to really kind of assist Mark here. I know you've got an option trade. I don't recall, but I think you said there was out there fairly far. Look, here's one of the other tools that I use to assist us in calling the market. We've been talking about those task market profiles for the different instruments out here, but here we're taking a look at those task market profiles for the Equity Futures contract. The one that you're focused on here, Mark, really should be the NQ. Now the reason that you're focused on that is you know, but just to share with others, is that Apple represents somewhere between 11 and 12 percent. Last time I checked of the NDX100, the number one holding inside, I believe Microsoft is just behind that. So I know they jostle in there. 10 to 11 percent out there. So they're the leaders, right? So they're leaders from a waiting standpoint. So when we take a look at what the NQ is doing, it's also telling us about what's going on inside the marketplace out here. And right now, price is close on Tuesday. Price is close in the NQ above the top of that profile, which had just formed the day before. That level is 87.69. So when price is above that, it's telling you that you're close to breakout mode out here. I say close because what you're really looking for, Mark, is the numbers 88, 43, 50. That's the actual 2019 high inside the NQ. Price is traded above it, but it has not held that. You're at 88, 38. If you see it close today above 88, 43, 50, that's telling you that right now you're on the wrong side of the trade out there and that the NQ wants to trade higher. Now you're going to say, or you should say, well, trade higher to where? Well, if we take a look at the primary trading ranges, you're going to see that right now price is trading right into the top of its weekly horizontal trading range. That's at 88, 54. So if price is close above 88, 54, there's no reason that the NQ can't make a move up to 91, 75 out there. So watch the all-time high inside the NQ. If it's trading above that, this is a game of, I know you want to be on the right side of the trade out here and I can't see into the future, but I can't see into the present right now like you and our role, yours and mine, is to figure out support and resistance or topping patterns that are out there and then make the, and assess the market and make the call that way. I don't know what the waiting is for Apple inside of the Dow out here, but anyway, I've just not seen the topping signals inside the NQ right now and the NQ on the five-hour timeframe, on the five-hour timeframe from here, price is dealing with a resistance level of 88, 37. You're at 88, 39. And if you see it close above 88, 37, its message is that you're going to see higher price. So in that case, you should see, you should feel more pressure, I would think, inside of that Apple trade. So I hope that that helps you out. Let's go to Fort Worth and speak with Roy. Roy, thanks for calling. Thanks for holding. How are you? Pretty good. Happy New Year, Steve. Thank you. Same to you. Now, you're calling about an instrument that we already spoke about. Did you hear that discussion? No. I'm sorry. I'm Johnny. Come late me, I guess. No, no, no. That's okay. We'll be here tonight then. No, no, no. That's okay. I just didn't know if you'd heard it and you had some other question. Just give me your question and I'll absolutely assist you. Okay. Yeah, I got in average price of $161 and I took profits on half of it today. I was just looking for where it might go to bottoming out and when to get back in, if possible. Sure. Yeah, so the place that I would be looking out here at this stage of the game because it does have a topping pattern, which is a TD set up nine count. This last top with a TD set up nine count, it also last bottom with the TD set up nine count. So you and I, in the case of fuel cell, FCEL, we've got respect for that TD set up nine count. The answer to your question, the first possible place of an entry into fuel cell would be about a buck 42. A buck 42 is the current price level of its oscillator and change line. That will increase or decrease by pennies or so and I have to watch time, but right now the answer to your question would be around that buck 42 level. And if price closed below a buck 42 or closed below my green line, I take it down to about 78 cents or 70 cents. So I like the idea that you exited the trade based upon these patterns, based upon how it seems to respond to the TD nine count and it does look like this one slower price. A buck 42 to 78 cents would be the range. Unfortunately, that's a very large range out there. So you want to watch what's happening. If price does pull back to a buck 42, is it pulling back with lighter volume each day or is it increasing volume? If it's increasing volume, you kind of stick the stay out of the way and you wait for that 78 cent level out there. But that's all I've got right now for you on fuel cell technology. Does that help you out? Appreciate it. It's perfect. Thanks a lot. You bet. You bet. Thanks so much for calling. Much appreciated. That was Roy in Fort Worth, Texas out there. It was a big guy cotton ball game in Texas yesterday. That was a good game. Lots of football. Still lots of football. I'm doing well in the pool. Thanks for asking. Number two. So my question today is just a point behind the individual who's leading. And so my question today is what I'm really grappling with is now that I'm in the running here and we've got these late games. So for example, today we've got Boston College and Cincinnati, right? So Boston College here, the coach there is on the way out. I think they've got a number of starters that are gone or leaving or are sitting out. It's only Cincinnati, which is a good team, seven and a half point spread. But anybody have any information on that if you're in the den and you follow football and I'm thinking Cincinnati should be able to cover the point spread out there. And then later on tonight you've got Indiana and Tennessee. And the point spread there is just like three points or so, two and a half or three points. But Tennessee is playing, they're playing in the, it's the Gator Bowl, so they're playing, I believe they're playing, I gotta assume that they're, well it's a tax slayer, tax slayer bowl. I've gotta believe they're playing it. Well, let me just see, where are they? No, they're playing, yeah, they're playing in Jacksonville. So playing in Jacksonville. And if you, folks, I live in South Florida. It is more south, it is more southern, is really what I should say. In northern Florida, then it is in southern Florida. So I'm thinking Tennessee, it's kind of a home game for them. Certainly much more of a home game than it is for Indiana. So I think Tennessee out there. But if you've got some ideas, please send me an email out there because I could use all the information I can get. Can only say is, I haven't seen any Tennessee or Cincinnati games this year, so I don't have a good enough feel for that. Okay, enough about that. Let's get back to Brent's question, right? Brent had asked about Baidu. Yeah, so let's go check out Baidu. B-I-D-U is the ticker symbol out here. And the same question, really, where is support, where is resistance? So nice day today in Baidu. Baidu taking off above the top of its daily profile. It was 129.38. It's above the weekly profiles. That's way down at 109.82. It's above the monthly profile. So Baidu from a resistance standpoint, profile-wise, well above all of those levels. Brent, so let's go take a look at the daily timeframe chart. Again, using my other tools out here, this did top with the TD setup nine count. Remember, the responsibility of any topping or bottoming pattern, in this case, your topping pattern, is simply that you, sellers have the right, and they should be able to push price back to support. Well, where did this find support? Right where it should have. The bottom of its TAS daily profile. That's why we use these. 125.49, and it just simply has taken up north there. You've got another A to B-equal CD pattern to the upside that is setting up inside of Baidu for its daily timeframe chart. Steve Rhodes with TFNN. We'll be right back. The interest paid is 7% yearly paid on a monthly basis. According to bankrate.com, the best rate for a four-year CD in the country as of February 20th is 3.1%. A $50,000 investment at a normal four-year CD rate of 3.1% would give you income of $1,550 per year, or $6,200 over the four-year period. That same $50,000 investment in the Tiger First mortgage program would give you $3,500 per year, or $14,000 over the four years. 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The monthly chart, this is nice because you're starting off January nicely and then you're going to have resistance. That was Stevie's red line. That's 128.17. Remember when that line turns colors out here, which it did. It's just several months ago. It was in April of last year. It tells us about a impending an impending visit of price in Stevie's line, regardless of the color out there. Well, you got that on last month. You got that in December I think it might have been this week or the end of last week. You got the test and rejection. But right now today price gaps up. It's over it. That's bullish. This would suggest Brent maybe a buck 66 is where it's going to find some resistance old support. That's a TD nine count support that could become resistance. I don't know if it will or won't but it is an area that I would be watching. I think it's going to be a big hit with that trade. Bode writes in and asked the question. Do we see any upside to Uber? Who be our Bode? Do you know when Uber started began its business? I do just happen to be coincidental I suppose with the March 2009 bottom in the stock market. Yeah, March of 2009. It's going to be March of 2020 very soon. I've never made a profit. Never made a profit out there. Now I've got to tell you the percentages of businesses that are around for 10 years is pretty small. I used to know the statistic off the top of my head but I haven't done any presentations where I had to go refresh that view out there but it's in 10 years time you're in the 5% or less category out there so they've got a great service. No doubt about that out here. But does it really have any upside? You know if you look I realize that what we and I are doing here we're we're certainly investing based upon what shareholders think that's really what I don't do any fundamental analysis but I did have to really throw out the fundamental aspect of Uber because Uber is a long-term investment. Let me give you what it's doing right now and you kind of go from there but right now 3089 which is the top of its daily profile that is a level of resistance. We can't use the weekly or the monthly time frame just hasn't traded enough to be able to generate anything. The question would be in the case of Uber when it did bottom back here last month did it generate any bullish reversal? You can see that and then we did get or it did generate a bullish reversal candle that is required it will generate that bullish reversal candle on November the 12th out here where is it that Uber could go ahead and continue to move up to on this countertrend rally well we'd say 3336 would be one level that's the TD 9 count breakdown 3422 is another one in 3491 there's some substantial equity if you are if you are long this you know did it generate a bottoming pattern you know from a trade standpoint on the daily basis absolutely so you and I can technically understand what the message was coming from sellers out there they had overstretched their stay so to speak but would I recommend you taking some type of long to trade this okay long-term position a company that's been around for 11 years hasn't even yet given guidance as to when or if it could possibly become profitable my answer is I think you can find better places to invest your your hard-earned dollars out there but that's you know that's just that's just Stevie's thoughts with regard to Uber love the service no doubt about it and hey look they could raise prices so that they can make money and then really see what the market is like out there the reality is Uber all they did was sold the story to you know everybody as they kept bringing in tranches and tranches in tranches you know and and then when you finally got the first set of sellers out there when it went public you know that again we're taking a look at the Uber all you have to really do is take a look at what people were doing they were sellers were saying sorry sorry Charlie out there so does Stevie think this has formed some type of significant bottom I don't see it really in the charts out there Hector and the fuel injectors wants to take always got Cincinnati and Tennessee okay all right good well I got Cincinnati and Tennessee so we're in the same camps out there no other questions why did I take that back Mr. Bill wants to take a look at Durham D-E-R-M is the ticker symbol thank you Mr. Bill please fire away these questions folks you know take a look at a couple other charts back just maybe we'll do that during the two minute wrap out here but we take a look at Durham Mira is the actual name of the company what a daily above the weekly above the monthly profiles so that is a beautiful thing the question is an A to B equal CD but I really see on this is more of a consolidation than I do anything else and it's really Mr. Bill taking a look at the monthly time frame chart maybe there is an A to B CD pattern on the daily time frame but really I think the pattern that's most important here that is in play is this little consolidation that probably should have changed the color there's your box let's just instead of green because it's already green on my screen out here let's turn that to a yellow color this is just consolidating right now it hasn't broken out again the ticker symbol here is D-E-R-M price made its way back up to the top the top was the high from the candle that formed on April the during April of 2019 and so you know an A to B equal CD pattern on the daily time frame I get real cautious here because what we're taking a look at the monthly consolidation pattern Mr. Bill what the daily is saying top top top top top why because what you've got going on right now I don't know what the end of the day session will be but you right now have a bearish reversal candle this is the dark cloud cover candle after a roads momentum it's not just the candle I could care less about bullish and bearish reversal candles that are in the middle of a move how do you know if it's in the middle of a move well you use patterns and as long as you use patterns and it's not present at the top or the bottom that's just kind of interesting info but where it does really matter and how you really should use as my suggestion to you just from years of experience out there is you use these candles when a pattern is completing if we take a look at when Durham bottom back here was the roads momentum indicator bottom pattern generated that bullish reversal candle on October 17th and now you've got the exact same pattern but up at the top is price above support it most certainly is and that would be 13 bucks even Stephen 1357 and 1385 but this wants to pull back at the top of a monthly consolidation I would be careful on ticker symbol DERM we'll be right back since 1984 Basil Chapman has been using Chapman wave methodology to advise traders of his expert market opinion well 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 the 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 percent 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 and 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 5 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 for more information visit www.cfnn.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 to take care of our body 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 $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 at $1.70 S&P 9 and Aztec up 88 that's going to do just a general overview of the markets what to be looking for what to write down on your pad of paper to watch for as much information as possible as soon as it comes to a close and as futures reopen later on this evening they're open right now but the numbers that I want you to be paying attention to and the ES mini is 3254 is really two numbers to be watching the top of its daily profile that's 3242 if price closes below that then what the market is doing or the S&P or the ES mini is just consolidating between support and resistance support 3216 resistance if price is trading above it's all time high or the 2019 I really what I should say that's 3254 that's another number I'd be writing on your pad of paper you need to have some real serious significant topping signal to suggest that you would be short the market yes I'm still anticipating a market top it's just a matter of timing that so watch 3254 in the case of the NQ which has really been on a roar it's trading above and looks like it's going to close above the top of its profile that was 87 69 that's a second day in a row that's bullish from that standpoint but in order to really get bullish and say hey we've got a breakout underway that could last for you know well I won't tell you the time period that it could last but it's 884350 any close above that you really don't want to be short the NQ and the Dow the level so really two levels 28625 look the Dow the YM it's has a bearish structured profile and any close today above 28625 it's telling you that it wants to trade higher but the real confirmation would be 28721 out there so for those three that's what I would be watching the spotball of Tildex we didn't talk about it much but if we do go take a look at it we've got a trading below its 50 day exponential moving average out there and that level is 1366 the spotball of Tildex wants to make a run down to the 1212 area and if it's going to do that you'll see the S&P and the yes many continue to trade higher folks thanks much for being here stay tuned another great two hours of programming coming up and I'll see you on fabulous and fantastic Friday take care have a terrific day