 The following is a presentation of TFNN The Traders Edge with Steve Rhodes Call now toll free at 1-877-927-6648 or internationally at 727-873-7618 The Traders Edge Now Steve Rhodes Good morning folks. Welcome to the October 3rd The magical Monday edition of today's Traders Ed Show. I'm your host Stevie Perseverance Rhodes Who absolutely knows that each of us should always be? Pioneers of our future versus prisoners of our past. Hope everyone out there is having a great day Hey, let's make sure we have an extraordinary one and the easiest way to do that It's to always remember that life is happening for us not to us That's right when you and I make that one little two-by-four shift It means we can find the gift in every set of circumstances that life is gonna toss at us now today You and I are gonna go check on the circumstance of these markets We'll go figure out what those bulls and bears what those buyers and sellers are communicating to you and I at Just past 11 o'clock in the morning. I do want you to know I am absolutely grateful for your presence here But more important than that and that's this during this next 53 minutes I'm here to serve you so feel free to pick up that phone would love to hear from you You can call us at 877-927-66 for it now if you'd like a question answer But you can't call in you can always send me an email You send that to Steve at tfnn.com and inside that subject heading if you would be kind enough to put Radio show question and of course inside our Tigris then well any and every ping will do so let's go ahead and get this Show started on magical magnificent Monday. Of course. This is tiger financial news network. I'm Steve Rhodes And I guess I forget what else I was gonna say so But this is a tfnn So let's go and get this show started right now I got all the US and C's trade in the upside the Dow's up 658 S&P's up 75 Nasdaq 100 180 Russell's up 40 Summars up 84 That's anywhere between the lowest percentage move to the upside is the Nasdaq 100 up one and seven tenths The highest is the summaries of three and six tenths percent out there Gold is up nearly two percent or twenty eight bucks Silver's up nearly eight percent seven and a half really trade up a buck 42 out of 2046 lights we crude up three bucks. That's nearly four percent to the upside natural gas the only stinker out here That is trading down 36 cents out at 640 and a 30 Treasury up a two full points and 21 ticks he's trade their trade out of 120 902 now lead the charge dollar wise the upside Regenerative pharmaceuticals up 6% of 43 bucks booking holdings 2% 34 bucks Mercado Libre up 29 bucks three and a half percent lamb research 6% 22 bucks to the downside. It's Tesla of 22 bucks 8% Chipotle's down one and a quarter percent or 19 Xpiri is down 10 bucks or 38% Appellas pharmaceuticals down 12% or 8 bucks. We've got some movers and we have some shakers, but let's begin the day by taking a look at the Equity future chart. So give me a moment here. We'll get those up on our screen. Well, I guess we can do it this way, too Let's go take a look at what's going on by the daily time frames. We'll take a look at two different sets of chart patterns out here First these are the daily time frame. You got the ES near for left. Let's take a look at that and the ES near for left What you'll see is an a to b equal CD to the downside pattern now that pattern was negated with a close below the close of last Wednesday that close out there was 36 13 It managed or it managed to close below that on Friday as well as closing below the bottom of its daily profile However, if that day's end we end up with a bullish reversal candle You will get another confirmed by the d-point pattern So what does that leave us? Well, that leaves us here right now You can see prices right up against a potential resistance area. That is the center of its daily profile. That's at 36 77 It's a bullish structured profile countertrend moves once you get below Typically it's two candles below the bottom of a bullish structured profile out there and that may really be the case But still we'll use it as a potential area where a countertrend rally Could or should end and that's at the 36 77 level. We're trading at 36 79 So a clear close above that would suggest otherwise now that otherwise might be just revisiting the top of the profile That's at 3807 in the NQ similar pattern set up on Friday negated his bottom pattern out there TD 9 count bottom pattern a price right now is finding resistance at the bottom of his profile This is not a bullish structure daily profile So if price can close above 11 to 41 Then Friday's session may have been a false move to the downside We don't know but right now what you're watching for in the NQ at day's end is a close back above the bottom that daily profile 11 241 The Dow same kind of patterns out there Meaning Friday's action negated is by the d-point when price closed below the wins the last Wednesday candle that low was out at 28 886 The price closed below that on Friday negated those signals However today right now we've got a nice big bullish engulfing candle price trying to get back inside its daily profile a close above 29123 will accomplish that task if we do get a bearish reversal candle that will confirm a buy the d-point pattern If we take a look at the Russell 2000 the Russell 2000 Never negated its TD 9 count or buy the d-point patterns really TD 9 count pattern out there today could be a buy the d-point pattern So it never negated that signal that support level or that key support level 16 53 60 Price is inside its daily profile the bottom of which and the center of which are the same That's the 16 65 75 level So an area of strong support this suggests that price should go target the top of his profile 17 57 Now before price gets to the top of those profiles What they will contend with on a further rally is going to be the daily oscillator and change lines Those are going to appear on your screen here momentarily. Those are the red green squiggly line So for the ES mini you want to note this down on your pad of paper. That's around the 37 oh seven area out there I say around because that number is going to go up and down as price moves higher lower So you'll use that as a guideline in the case of the NQ 11 367 ish out there in the case of the Dow 29 5 68 and right now the Russell 2000 which is the strong industry of the four Never busted through support on Friday and right now today. It is dealing with its oscillator and change line So perhaps it's the Russell 2000 that would give us the key out there. That's at 17 11 40 We're trained at 17 11 40 as we speak right now So a close above that would then suggest a further rally what the Russell can do it Maybe the others can do it as well However in the meantime what we're watching for is the price activity during this next half hour It's 11 13 well Maybe longer than this next half hour the reason why I say this next half hour is because if you look at the ES mini if you look at the NQ and the Dow equity future contract This does not apply to the Russell 2000 the upper left-hand side You will see that we got a TD 9 count top that form just as we were coming Well as it's formed at 10 30 and a close above that high by the way that high is 36 73 75 Will negate that signal short of that what price should do is pull back and test its oscillator and change line a Close above it says we've got a of the rally extends itself with regard to the ES mini It's has a small area of resistance on a 30-minute basis also at 36 81 75 So that's really the level that the ES mini would need to close above to suggest that we are in rally on mode At least for its 30-minute timeframe, but right now you've got a valid TD 9 count top That's in place for the ES you have the same pattern was the bar following bar number 9 for the NQ a close above 11 to 14 for the NQ on a 30-minute bar will then suggest a further rally now There is resistance that is TD 9 count breakdown areas and that's at 11 260 250 11 271 for the Dow a close above It's high that took place at 10 30, which is 29 for 22 That would negate that signal and suggest a move up to first 29 508 you clear that or headed much higher The Russell 2000 in a world of its own. There's no topping signal here. It's suggesting it does want higher price We know that its resistance level was that daily oscillator and change sign Steve Rhodes with TF and N will be right back Blooming inflation we are purchasing powers eroded. There's no better place to protect your hard-earned money than ain't gold This the golds flagship asset is the Monk Todd gold project in the northern territory of Australia This is Australia's largest unveiled bull project. We are talking a world-class gold project in a tail one mining district This is a large-scale low-cost project with significant existing infrastructure in a politically safe and friendly mining jurisdiction This the gold just completed the Mount Todd feasibility study Which resulted in a seven million ounce gold reserve in a 16-year mine life? All of this combined with the approvals of all major operational as well as environmental permits This distinguishes Mount Todd is an attractive dearest pot ready development stage gold project This the gold trades on the New York Stock Exchange under the symbol VGZ You might think that if you want to be successful at trading in the stock market You're going to need a crystal ball after all it's impossible to predict the future, right? Like any endeavor in life before you decide it's impossible get some advice from the experts You might find that it's not so impossible after all for daily market overviews that give you direction on the key indices Selective stocks and commodities subscribe to the opening call newsletter at TFNN comm the opening call newsletter is written by Basel Chapman creator of the trading methodology known as the Chapman wave the Chapman wave Up-down sequence gives you an edge in identifying price turns finding the peaks and valleys and stock prices Get the opening call newsletter by Basel Chapman and your inbox every day first time subscribers Also get a 30-day money back guarantee if you're not satisfied Let us know and you'll get a full refund within 30 days of signing up TFNN comm 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 comm and try mastering probability 30 days risk-free today TFNN educating investors Toll free at 1-877-927-6648 Internationally at 727-873-7618 We get to the request it up come in we've got five so far we'll get to those here in a few moments So this is the weekly chart for the Adele and if we take a look at what transpired on Friday out here We know that the signals were negated bottoming signals that we may get new ones on a daily basis that form today But if we take a look at the weekly time frame chart out here There certainly is the potential that a new a to b equal CD pattern has been Confirmed to the downside the a point out there being the highs from January 2022 now the b-point We'd be using here is the June lows and then the retracement the b to c retracement August 15 So here you'll see the one-to-one a to b equal CD to the downside now this suggests that First the retracement here was less than a point. I don't have those turned out I don't know why I don't but it's less than a point six one eight retracement out there that much I know price along the c to d leg is on the left side That's the strong side the one-to-one price projection would take us a 26 982 the one one point two seven two Which is a more likely target meaning this should do more than a one-to-one to the downside would take us a 24 996 now that's one way of taking a look at what's going on here And that is a accurate way of taking a look at it, but we've got to do more So as we go ahead and we populate this chart here right now, I'll leave that a to b equal CD pattern I make turn that off momentarily In fact, I will turn it off right now. Let's just turn that off What's another way for us to take a look at this chart? Well one way to take a look at it is The current descending trend line So these are now in this case here These are the channel lines Utilizing the tool in the techniques that Bud Roff's taught us which was to use the actual body of the candle Look for two or more Located opens and closes use those and that's what we have along the top and the bottom here So we can see when we use that tool and that method out there that what price did on Friday was it got down to the bottom of That descending price channel So the question is will price make a move now We will have a rally with price taking us up into the top that descending price channel wait a minute Stevie You just gave us the a to b equal CD To the downside out there. Yes We've got to take a look both sides of the trade now if price can regain the b-point So that's a key area here to be watching that key point out there out here was the Is the price level I've got Apigee sorry about that didn't mean to have that on there at 29 653 29 if price can get back above that what that would then suggest to us is more likely than not Price is going to try to make that counter trend move up to that descending trend line That is not the only trend line. That is our channel lines that are out there here our actual price channels as well that take us back into the 20 on 2009 a time frame again each price channel when price breaks out to the upside of the downside what you do is you just simply Multiplying times to the original channel size out there and that gives you these price projection areas So I'd be watching the 29 653 area And then of course you can always populate this with the horizontal trading range boundary lines price closed Just slightly below that level the weekly level 28 909 is back above it So the key area here to be watching is going to be this 29 653 29 for further clues as to what the market's intent is So that's really a overview of the indices. I guess lastly what we can do is take a look at well I'll have to do it. I'll fire it up during a during a break out there take a look at market breadth So we get a feel for what's going on there. So let's do this here Let's spend some time take a look at the request that have come in and then during a break I'll pull up market breadth and we'll take a look at that and try to get a feel for what that is being Communicated to us. Well, that wasn't the panel. I was looking for was it? No, I guess it was this panel So actually our first request Coming in from a Dan inside the targets. I want to take a look at ticker. So BC Li So we're gonna switch over to our white background charts here momentarily. Give me a moment And we'll get out of three panel chart out there. No, I apologize Dan I don't recall specifically what you were looking for So I'm just gonna do my analysis here and hopefully that provides you with the information you're looking for if not just ping me and We'll we'll go from there So right now you've got price trading above the top of its daily profile the top of the daily profile It's $4 and 37 cents out there a second consecutive close above that would suggest higher price Now what price has got to really deal with his resistance So the resistance was set up by this Rosemont Dominicator top on the trading day of September 15 and that set up resistance at 449 so that's a resistance level as well at price can clear that then it should go take on that big wide-ranging bar from August of 15 and get up into the 470 level as we take a look at the weekly time frame chart You will notice that last week was bar number 9 of a TD 9 count However, it's not a valid TD 9 count topping pattern because bar number 3 has been the high out there So price would have to take that out in order to set up a weekly TD 9 count top What price is doing Dan it is consolidating with inside its weekly profile with the resistance level being 448 So there's a was it 448 was the high of that 449 was the high of that the Rosemont Dominicator topping resistance level from September the 15th and on a monthly basis Not really a whole heck of a lot out here Although it doesn't look like prices above where it's the top of that monthly profile. That's that 261 really no can't be I guess it could be 688 688 I don't know that's strange. I'm not I'm not really seeing this properly here Let me just go over to my other charts here Bcl I'd like to give you accurate information and on a monthly basis The monthly profile is at 361 361 so you're well above it Dan you've you're dealing with some resistance areas out there. That's all that I see at this stage here So I do hope that that helps you out and thanks so much for the request the next request coming in from John inside The Tiger's Den you wanted to take a look at really specifically the daily and weekly charts here for the gold contract So we'll just stay with this same set of charts is going to pop up the monthly data for you as well What we know about the weekly timeframe is what Goldilocks did was it generated really three bottom patterns three bottom patterns that Johnny likes out There the first one being wave number seven that is a letter G. That is a very small part Well, I take that back that pattern really got negated didn't it John? Yeah, because we saw price move below that a couple of weeks ago All right, so now we're down to two bottom patterns out here that form inside of the daily timeframe for gold TD 9 cal bottom That remains an effect and a roadsman to Mindicator bottom price right now is trading above It's a 1695 70 level. That's a top of its daily profile I close above that is a short-term bullish signal that short-term bullish signal John should then take price up to its TD 9 Cal breakdown area On a daily timeframe. That's at 1740 to 90 on a weekly timeframe chart here You've got wave number potential wave number seven out there But more important you've got a buy the D point pattern that buy the D point pattern formed last week with a bullish piercing candle The resistance level for Goldilocks as we can see out here It has struggled to close above its oscillator and change line doesn't matter whether it's red or green So the price area even though I said 1740 to 90 the real resistance area is going to be as price approaches that weekly oscillator and change line John that's currently printed at 1760 60 the bottom of the daily profiles at 1716 60 We know that line will move up and down As price moves up and down, but that's really the next resistance level price can close above the weekly oscillator and change line Something price has not done since April 22nd out there that would then suggest to us a change in trend That does not mean the battles are not over because as you can see weekly profile levels exist at 1757 50 and 1798 on a weekly on a monthly basis John What price did it had a nice rogment to mitigate her top and what price found support is where it should have Which was inside its monthly all structured profile. That's between 1576 to 1638 Hope that answers the questions you were looking for. Thanks for the request. Have a great day Folks would be back right after this break and on to our next question If you want to take advantage of this sector now is the time to subscribe to my goal report The goal report is a comprehensive look at the metals sector as well as the markets that move gold Which is the currency and bond markets new subscribers get a 30 day money back guarantee So you have nothing to lose every Monday morning I publish the goal report with coverage of gold silver bonds the XAU HUI GDX as well as more than 30 different mining equities To see for yourself the types of profitable trades that are recommended within the goal report sign up now by visiting Tfnn.com don't miss out on the next great gold trade sign up today Tfnn is excited about our new software charting program the art of timing the trade charts in Collaboration with Tom O'Brien and using his best-selling book the art of timing the trade your ultimate trading mastery system David White has programmed an outstanding piece of software that will complement any trader's methodology Using this first-of-its-kind program the art of timing the trade charts allows you to scan thousands of stocks for Fibonacci Formation setups including Gartleys ABCs butterflies and much more the art of timing the trade charts is designed to help you when Scouring the markets for stocks just beginning to form the trading patterns that many investors spend days weeks or even months Searching to find and right now. 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Did you see the BC li charts out there? I hope that you did if not, you know You did okay great. Okay. Sorry about that I didn't see the messages coming in as I was focused on the charts himself So we should be good to continue on here. So let's go to our next question. This coming in by email Give me a moment here this one coming in from Hector and Hector says happy marvelous Monday QQQ weekly ABCD down and possible by the d-point where would you draw the ABC? Weekly down this is for the Q's so let's go to the black background charts out here And that way we can answer that question more easily just simply because of the tool So what Hector and Patty are asking about the QQQ specifically the weekly time frame chart out here And as we take a look at the a to b equal CD to the downside the pattern that I would really draw in here is this one now To lead it. This is the larger one and that's gonna take us back to the November high of 2021 We're gonna use the June the lows as the b-point that June 13th low And then we're gonna use the August 15th high as the c-point. That was a 46 percent Retracement on that b to c leg as long as price remains below 269 28. It is above that level now So, you know, maybe it's gonna be a complicated a to b equal CD pattern But what we really need to see here Hector and Patty now what price did on a weekly basis the volume of that b-point for the Q's was 409 million shares and last week we saw 380 million shares, so it wasn't confirmed was confirmed by price but not confirmed by volume out there So what we can see is that on the Q's out here on a weekly basis It was a bullet structure profile that price broke through yesterday last week second week in a row Countertrend moves which we may have that is going on here for the Q's for the for the market itself The countertrend move on the Q's and Hector should find resistance at either 282 52 But more likely 294 05 the center of that bullet structure weekly profile But this is the this is the 1 to 1 a to b equal CD They've got us down into 194 level. That's as long as price remains below 269 28 remember it's a weekly chart that we're looking at to so it doesn't matter what Monday at 1130 to this chart Looks like it matters what it looks like at Friday afternoon at 4 p.m. So that was the weekly chart Let me make sure answer your questions Where would you draw the a to b equal CD? So we've done that you're asking xx on mobile if you got time Does this qualify for a daily island reversal bottom? Let's go find out xo m. Let's take a look at it Let's go back take a look at the daily time frame charts out here and Pull this up on our screen. So here's xo xon mobile for the daily time frame Yeah, it qualifies most certainly Out here that's because where we had we had the big gap that Hector was looking at Was basically began the law. This is a daily time frame chart the law from September 22nd Then we saw that gap down the very next day Then we've got a gap to the upside so that creates this little island Let me get rid of the a to b equal CD Let me draw that island in for everybody else out there now We really prefer island bottom patterns to occur at lows. That is certainly not the case here for the X for the daily chart for x on mobile that doesn't mean it's not an island bottom out there In fact, what we really should do is also just take a look at x on mobiles white background charts Well, we did see a buy the d-point pattern That had formed out here certainly today's gap to the upside Accomplishes that as well, but what x on mobile actually had out here before today's activity Hector was a daily TD nine count pattern. So let's switch over to those white background charts You'll see those momentarily and you'll see the nice TD nine count bottom Now what price is doing today that is important for it is it is a trading back inside its profile daily profile We saw that 86 90 89 62 the bottom and it's a back above its oscillator and change line So as long as price remains Hector and Patty above 89 62 the signal here is move up to 91 91 That's the next battleground out there and then the safeties are sitting at 94 20 So that's where price is likely to head to the weekly time frame chart shows us a nice consolidation pattern with inside its weekly profiles This suggests a potential move up to the 9506 So we're going to call about 9506 is likely where x on mobile is targeting. So actor and patty. Thanks much for writing in And I have a magical Monday the next question coming in from rachel Rachel writes in to s t has shown up on one of my scans and having high Institutional buys this year to st. So let's get toast Up on our screen out there. I've had a good piece of toast in a while Question continues on was wondering if you could look at the stock for me I've already bought a few shares looking like a basing bottom is formed if confirmed bottom would be looking to add Further position. Thanks rachel. So rachel we take a look at the daily time frame for toast And I don't know what toast is but it is an individual stock out here What I do not see is any kind of bottom signal on the daily time frame We're likely to not what toast is doing. Let me just check on my other system out here So the b point of an a to b equal cd had 4 million shares and it was passed with 7.4 million shares on friday So i'll show you that a to b equal cd pattern momentarily. Let me see if there's anything else here on toast so You say there's a lot of insider buying well, you're on the best side of the insider Side that is because we're going to go take a look at the charts and see what actual buyers and sellers are communicating to us Which at this stage here is an a to b equal cd to the downside. So steve. Oh, let's get to it out there Let's go to those black background screens so that rachel can see where that next a buy purchase is likely going to be Which may be around 1466 that was the td9 count breakout level So that's one area to be watching But we'll expand out this chart here and rachel the a point that's going to be easy to identify That's going to be the high that high was on september the 12th the b point pretty easy That's going to be the low from september 23rd We had a four-day rally right up into the bearish structured resistance level where it would have found resistance is where it did And now you've got a confirmed to say confirmed a to b equal cd to the downside Now the one-to-one area gets us to 1361 and that would be below that 1466 td9 count breakout level So that's going to be an area where you could find support But more likely than not what this wants to do is make more than a one-to-one a to b equal cd to the downside move The reason being prices on the left side of that c to d angle and prices also Only made a 37 percent retracement those typically turn into more than a one-to-one a to b equal cd to the downside So I would be adding anything here Um because uh what buyers and sellers are telling you is this one's lower price So as price moves down to those areas the 1460 ish area out there Rachel, please feel free to reach back out to me because you reach back out to me every single day if you'd like And we'll take a look at whatever requests that you've got in there So thanks for the request have a magical monday the next one coming in from Oh, it looks like i've gotten through everything On the emails. Let me just make sure here. Yes. That was john on the gold And yes, we did. Okay, so we've got through those emails now Let's uh switch over there was a request to go take a look at the s and p charts out there. No I don't know who asked that so with regard to the s and p charts flip Is it truly the s and p charts you want or do you want the uh es mini charts? And I probably should have asked you that beforehand just to make that easier um ES mini perfect. Okay. Thank you very much. So now let's go flip over Sorry, I used flip that's his uh, that's his handle inside the tiger's den So that was is that a coincidence? There are no coincidences. So let's actually go take a look at Es mini charts we want to look at for you. I'm going to look at the white background charts But let's look at this is the doubt. Let's look at the shorter term timeframes as well. So one two two We're going to switch panels out here And uh, you get those white populated charts momentarily Come on. What's what the screen share? That's interesting. Okay. So now as we take a look at so on the daily time frame Earlier flip if you saw the show we were looking at the es mini we're looking at all the daily time frames They each have by the d pointer a to b equal cd patterns out here a bullish reversal candle today Would confirm another by the d point pattern counter trend resistance potential counter trend resistance says that the 36 36 77 65 level But real resistance out here flip is going to be at 3706 on the daily time frame price over comes that We're going to see a move up to the 3806 level We'll be back in a few moments after this break. We'll further look at the es mini charts for flip inside the tiger's den You might think that if you want to be successful at trading in the stock market You're going to need a crystal ball after all it's impossible to predict the future, right? Like any endeavor in life before you decide it's impossible get some advice from the experts You might find that it's not so impossible after all for daily market overviews that give you direction on the key indices Selective stocks and commodities Subscribe to the opening call newsletter at tfnn.com The opening call newsletter is written by basil Chapman creator of the trading methodology known as the Chapman wave The Chapman wave up down sequence gives you an edge in identifying price turns finding the peaks and valleys and stock prices Get the opening call newsletter by basil Chapman and your inbox every day First time subscribers also get a 30 day money back guarantee If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up tfnn.com educating investors The technology around us is changing every day with so much happening it can seem impossible to keep up with all the information David white's investment newsletter the technology insider is designed to give you all the information you need to understand the technology That shapes today's markets and tomorrow's future David white has made his living staying on the cutting edge of technology His weekly newsletter will give you specific recommendations for value tech stocks As well as entry prices target prices and stops to set for each trade Dave delivers his weekly newsletters every friday with updates throughout the week You can get the technology insider at tfnn.com for only 37 dollars and 50 cents Sign up for david's newsletter the technology insider and get an inside look at everything the technology sector has to offer Try it risk-free today with our 30 day money back guarantee tfnn educating investors Are china a shares hot or not? If you trade china a shares now may be time to take a closer look Trade chau or chad Directions daily csi 300 china a share bull and bear etf's china a shares in either direction Visit direction investments.com today an investor should consider the investment objectives risks charges and expenses of the direction shares carefully before investing The prospectus and summary prospectus contain this and other information about direction shares to obtain a prospectus or summary prospectus Please contact direction shares at eight six six four seven six seven five two three The prospectus or summary prospectus should be read carefully before investing an investment in the funds is subject to risk Including the possible loss of principal the funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor four side fund services llc This program is brought to you by vista gold traded on the nyse american and tsx under the symbol vgz Now folks so right now we're taking a look at the es mini charts We looked at the daily before it went to the break a bullish reversal candle will again confirm They buy the d-point pattern if price that would then suggest to run for that oscillator and change line currently at about 37 0 5 A move above that will take us to 3806 a five hour time frame chart That's next to it has a nice rogment to indicator bottom It's got a new profile that form so the resistance level is going to be at the top of that which is 36 93 75 Your price closed above 36 93 75. Let's see if we have any close above a five hour profile in a while Not really We did get a couple of closes back here right around september the 19th that lasted for two bars out there And then it gave it up So 36 93 75 is an area to watch your price able to close above that on a five hour time frame That would suggest that you could see more rally the four hour time frame chart As roads meant to be a signal but no bullish reversal candle here So we'll move on the two hour chart had a nice buy the d-point or currently buy pattern or butterfly pattern perhaps out here Let's see was this Yeah, probably a but there was a butterfly pattern that had formed out there Price right now is dealing with resistance at the top of its profile It closed on an hourly basis above 36 66 and a quarter out there with that signal move up to 37 36 16 minute time frame chart it's got resistance at 36 84 50 flip if price can overcome that That's a bullish outcome the 30 minute time frame chart It did negate its cd9 count out that we talked about earlier But now it may be forming a sell the d-point pattern right at breakdown resistance of 36 82 So this then would suggest a move and a pull back to test support Old resistance which could be the top of its profile 36 45 assuming no new profile forms before then And it's also done change on which about the 36 42 area So the 30 minute chart is says expector anticipate a retracement That says of 1144 really need to see that candle finish at 12 noon But rest assured if you do get a bearish reversal candle out there that would then suggest pulling back and retesting that 36 45-ish area out there The 15 minute chart will move on from that and go to the 10 minute chart Which has a nice road commitment td9 count off the price right now is taken on its key level of support The next 10 minute bar does not complete for six more minutes if price does close below 36 64 80 uh 36 64 If price closed below 36 64 odds fail and you get a second 10 minute bar closed below that Then this suggests that price should pull back to its breakout level of 36 31 so right now We don't know price is going to break through these because we still have minutes left in the sessions out here that we're looking at But this could be signaling to you and i that the es many is getting ready for a bit of a pullback And i say that target is really in that 36 31 to 36 45 ish area out there That's what we see we take a look at the es flip I hope that that helps you out if you have any other questions So please write back and we'll try to get to those next question coming in from s n p inside the tiger's den And s n p wants to take a look at cf industries out here, which is trading out at 100 dollars and about six pennies 100 dollars 10 cents whichever A chart we're looking at out here And so what do we have here? interesting You know all that i really see on this is a three drive to a bottom Pattern out there, which looks like this actually what we have to do is go back to the black background charts Maybe easier to show at least what steve's looking at so we're going to switch back to that here momentarily And take a look at the potential three drive to a bottom pattern. So to do that we're going to use our space tool In our space tool We need to just reset that so that We've got a three or three drive tool. Okay. We already have set to our third three drive. So How are we going to do this? There's there's a couple of them that are out here. So the first one could be this to here That's not it The second one could be again, i'm looking for and we're looking for equal time spacing between drives out there That could be one, but that's not it So is it this and maybe what we don't have out here is really a three drive We don't want to force the pattern. So that would be one And that's off. So I can't can't really uh S and p say that I don't have an a to b equal cd either right because if we take a look at that pattern That hasn't completed the a point is easy to identify the b points also easy to identify And then the c point is up here and so You know, we don't we don't have a right now an ongoing a to b equal cd better might turn to one that one might still exist But at this stage here What I would say and we'll go back to the white background charts for you Is that price is trading above its oscillator and change line and s and p if it can hold that level that level is 99 20 if price can remain above that then it suggests odds favor to run up to the top of the profile one oh four ninety two That's really supported even though I don't have a bottom pattern on the weekly chart prices back inside its weekly profile That suggests to move up to about the 103 92 area The monthly time frame chart out here has got a nice td neck out top took price back to support which held It's really more of a neutral type signal. So cf should rally further and it's that one oh four 104 92 area that I would expect that price would go target to the upside. So hope that helps you out s and p Thanks so much from the thanks much for the request nick writes him and nick says good morning, steve Hope you found a naples property in a good shape pretty good shape out there. There are a couple of problems The smh, but thanks for thanks for asking and I'll get to those problems next this coming friday The smh is out here is what he's going to request So i'm going to turn that on on the white background charts And then let's actually read the request out here. Would you mind going over short term bottom? Uh resistance levels. Thank you for all you do regards nick so perfectly So the smh remember we took a look at uh the for equity future contracts out there And it was the russell 2000 that did not did not violate its bottoming patterns That's so true on friday with regard to the smh in fact friday What it did was just simply set up a td9 count bottom pattern out there So now what we've got let me expand out the daily time frame nick what you're looking for today is a close above that oscillator and change line since august 16 2022 Today is october the third so for quite a long time We've only seen two days where the smh's have closed above their oscillator and change line The first one was september 9th the second one was september 12th and then boom right down below it So a close above that is a short term positive out here It also would get price above the uh bottom of its daily profile So you'd like to see that so you're looking for a close above both of those today Um the bottom of the daily profile for the smh's is at 190 94 190 90 let me see right now the uh oscillator and change line measures out of 190 39 So I I think it's pretty safe to say if you can get a close above 190 94 There should be more legs more rallying this now. Where would that take us to on a daily time frame? Well, the resistance zone is the profile levels. That's between 195 03 and 197 08 Those are that's a bearish structured daily profile A weekly time frame out here No bottoming a pattern or signal that I see you do have a potential for a td9 count on the monthly time frame But what that means is october would need to see a close below 20373. You're at 195 Um, so what else do we have for you on the smh's you asked for in a short term bottom in a short term bottom in We're giving you the area to watch for a confirmation If I look at a 30 minute time frame chart out here for the uh semis out here What we'll see is a nice road meant to indicator bottom that was formed at 10 o'clock this morning During that first 30 minute bar Price should is back inside a gap out here So we can see that struggling with from a resistance standpoint But if price came clear the uh 4 p.m. High from september 28th at 194 87 Yeah, I'd say a short term top with at least a move back to the 195 ish area 195 maybe 197 So I hope that helps you out next thick. Thanks much for writing in and have a magical Monday steep roads with tfnn. We'll be right back Vista gold owns and operates the largest undeveloped gold project in australia the mount Todd gold project Vista gold just completed their feasibility study resulting in a seven million ounce gold reserve Vista gold has all major permits approved and has retained civc capital market assistance in evaluating alternatives and in completing In a creative transaction Vista gold trades on the nyse american and tsx under the ticker symbol vgc Vista gold executing a strategy to create shareholder value You might think that if you want to be successful at trading in the stock market You're going to need a crystal ball after all it's impossible to predict the future, right? Like any endeavor in life before you decide it's impossible get some advice from the experts You might find that it's not so impossible after all for daily market overviews that give you direction on the key indices Selective stocks and commodities Subscribe to the opening call newsletter at tfnn.com The opening call newsletter is written by basal chapman creator of the trading methodology known as the chapman wave The chapman wave up down sequence gives you an edge in identifying price turns finding the peaks and valleys and stock prices Get the opening call newsletter by basal chapman in your inbox every day First time subscribers also get a 30 day money back guarantee If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up tfnn.com educating investors Everything in the universe is governed by the fibonacci sequence This mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market To stay on top of stock patterns You can take advantage of sign up for the fibonacci 24 seven newsletter at tfnn.com When you subscribe you'll get a weekly report from veteran day trader larry pesavento on stocks You need to pay attention to and you can trust larry's analysis After all he's got 45 years experience as a day trader larry will also provide daily charts videos and data on the key markets That he's tracking expect notifications from larry on market movement You need to act on at any time first time subscribers also get a 30 day money back guarantee If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up Subscribe to the fibonacci 24 seven newsletter today tfnn.com educating investors Tfnn has launched the tiger's den hosted at discord tfnn has been educating traders for more than 20 years with live programming hosted by a variety of professional traders during market hours the tiger's den Available to all tigers and tigers for just one dollar for the year There's no catch or added costs when you join our community of traders Sign up today and become a part of this educational community of traders. Just visit the front page of tfnn.com Welcome back folks. I I like to be a man to my word and so that's why we've got this screen up here right now And this is taking a look at the taz market breath. So that's how we'll end the show out here This is for the 30 minute time frames and when we're looking at the es mini charts for flip We notice some of those short-term topping patterns that were out there and that's really supported by what we're seeing out here As a potential for for the move lower we got 114 instruments in the s&p above the top of their 30 minute profile And 130 minutes 130 instruments trading below the bottom of their 30 minute profile Let's see what this is looking like for the nq as well out here The nq right now for its 30 minutes is showing us what it is showing us just taking a minute here to calculate More than a minute 14 instruments above the top of the 30 minute 42 below. So this says okay Yeah, we should see doesn't mean it's not guaranteed but from a but we should see a further retracement first retracement of the day You know, we haven't seen somebody's going to ask the question or should ask the question Is this a bottom in the market out there? And I really think what we need to see is those first retracements out here Because we haven't seen really a market yet that has an interday basis Higher bottoms and higher tops out there So I think we want to watch this first retracement It may be beginning right now out there if it doesn't begin right now It will begin at some point time and if we take a look at the Market breadth here for the larger time frame 60 minute and 240 are bullish out here We're taking a look at the speed dials up a right daily time frame as we take a look at the 55 benchmarks above the top 141 below the bottom of their profile So this too suggests we should see some retracements We should see a choppy market out there And as we finish the show out and we take a look at the nasdaq out here The nasdaq has bullishness for the 16 to 40 now in the 60 minutes to give the feel for how bullish it is 66 above the top of that profile 15 below and on the daily basis out here What we've got is you've got a total of five instruments above the top 45 below So let's expect an end to spate some retracements Let's watch what those retracements do see if there's any kind of patterns that are formed and then begin to see Do we have higher lows and higher highs and if we do Then we took a look at that uh descending trend line chart for the dow out there And that suggests a rally up to the top of that descending channel line folks stay to we've got great programming lined up here I'll be back with you tomorrow 11 o'clock sharp a terrific Tuesday. Please have a magnificent Monday. Take care. Be safe out there