 The following is a presentation of T F N N. The Traders Edge with Steve Rhodes toll free at 1-877-927-6648 or internationally at 727-873-7618 The Traders Edge. Now Steve Rhodes. Good afternoon folks. Welcome to the December 9th Magical Monday edition of today's Traders Edge 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. Everyone out there is having a great day. Hope you had a great weekend. Let's make sure we have a great day. And the easiest way to do that is to always remember that life is happening for us. Not to us. That's right. We do not make that one little two by four shift 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 on the circumstance of these markets. We're going to go figure out what the bulls and bears what those buyers and sellers are communicating to you and I just passed one o'clock in the afternoon. I want you to know that I'm absolutely grateful for your presence here but much more important than that during this next 60 minutes I'm here to serve you. So feel free to pick up that phone. You can dial on in 877-927-6648. If you can't dial in we've got you covered there too. Send me an email but do it early please. Steve at tfnn.com inside the subject heading please put radio show question. Of course our Tigers done any ping will do. So let's go ahead and get this show started on Magical Monday. Of course this is Tiger Financial News Network. I'm Steve Rhodes. Welcome to last show right now. We got all the indices in the green with the exception of the spotball until next was up 10.28% so far today. It's trading out of 1503. It is above the 50 day exponential moving average. That is never a good scene for the equity markets out here. You've got the Dow off 68 points a quarter percent. Not a big deal. The S&P down one tenth of a percent. Church not coming through correctly. I'm not sure what to tell you. It's the way we've done it all the time out here. Try to repost this again. Not much I can do there. Let's try this here. Here we go. We got that. Start sharing. There we go. Hopefully this will work for you guys out there. So we've got the NDX is up by one tenth of a percent. Russell down by. It's basically almost it is flat out there. The semis are up two points. So not a lot of movement. We're still going to go look into the details out here. Nope. Chart not coming through. Man. I'm not sure what to tell you. Well folks for this next five minutes. I guess you won't see my charts. I don't know what you can see then. I guess we can turn on my face. Although that's that's that that five minutes will will have you turn off. You can see my face. You can't see my face. No charts. Let's try this again because we don't want to do that. That's so strange. No. OK. Well sorry folks. There's some technical difficulties. We'll try to chart should be up but in any event let me just talk about the markets with you. I'll try to visually describe what it is that we're looking at out here. And then we'll try to get things fixed. So the first chart that I would put. What a difficult time doing a face time. Yeah I can face time. I'll give you some. I'll give you some face time Jester. Hey you know it since since since since you and I are having the conversation here. That's good. Why don't we just go take a look at the TAS market profiles. Let's get that out of the out of the zone here. And so here's what you need to know with regard to TAS market profiles. Last week on Friday we were taking a look at the daily time frames and the new profiles that were forming. Those are in place right now. The Dow itself actually has formed a new daily profile. The top of its box is twenty eight one ninety seven. It's also formed a new weekly profile. The top of which is twenty eight one ninety seven. If you're wondering where there's strong resistance inside the Dow Dow equity futures contract it's at twenty eight one ninety seven. You can't see it on my screen. I wish you could if you did. But you just have to trust me on that. So why write down on your pad of paper twenty eight one ninety seven. Now where's the key level of support for the Dow. I'm glad you asked that question. It's actually at the bottom of its daily box. It's a bullish structure daily profile and that bottoms at twenty seven nine thirty one. What have we traded down to today twenty seven nine thirty six. So real key level out here with regard to the direction of the markets. Let's say the Dow out here would be the bottom of that daily profile twenty seven nine thirty one. Now not that much further below is the center of its bearish structure weekly profile and that's at twenty seven eight seventy five. So any close blow twenty eight seventy five well that could set up a move down to the twenty seven two thirty one area. That's the Dow profiles. The NQ which has been. I can't say it's been the strongest. The reason why I won't say it's the strongest is because Russell two thousand actually took out its prior highs out there where the ES mini the NQ and the Y. M. did not do that. So the Russell's actually been fairly strong. Now the Russell is trading below the top of its daily profile. It never closed above the top of that profile. That level sixteen thirty six and a bit of change out there. So just trading sideways. But the NQ has formed a new daily a new weekly profile J. or it's trying to. We really won't know until next Monday. Maybe we'll have a better feel by Friday. But right now we do have some new figures out here in those new figures. The top of the weekly profiles eighty three ninety three. The bottom of that profile is eighty two sixty four. So there is your range out here. What we're watching is that eighty three ninety three level inside the ES mini. We don't have any new data. The old data is thirty one fifty eight up at the top and thirty ninety seven down at the bottom of the box. Now the next thing that I would typically turn to I see we're still seeing your desktop screen with your face in a small insert. Well OK. Well that can't be too bad. The question is can you see my are you are you folks seeing my black background charts that show you the TAS market profiles. Because if you are man and we're in great shape. And you get to look at my ugly mug you know but in a small little square but but at least you get to see the charts. So are we seeing the charts out there. And I don't know the answer to that but I'm hoping no charts at all. I'm not sending the wrong monitor folks. I'm sending the only monitor that is out there with black background. Well we got another minute to kill see your desktop with lots of white charts. Well OK. We can do. I mean so if you see lots of white charts let's take a look at the ES mini. So now do you. Problem is I can't see the. I can't see the. I can't see the dense stuff. So I don't know if that's it. Is that it. Was that it. No that wasn't it. OK. So oh you're seeing my face. So you're looking at that screen. Well all right. Let's do this here. I apologize for this folks but it really would be so much easier obviously for you to be able to see the correct screen out there. So let's try doing this. You're saying that's the wrong one. Huh. How strange is that. How about this. What do you get to. What do you. Yes that's the one. Oh man. No I don't know. I think you're seeing they see my black charts now. Now we got it. Oh you got to love it. I told you. My name is Stevie perseverance roads we will persevere through this anyways. Laura thank you sorry about the first five eight minutes out there. But but here are your daily profiles. Let's just daily and weekly profiles out here's the chart. The charts that we were taking a look at. We'll see if I can get my mouse back here. That would be nice. But it's the black background charts. You can see the dialogue boxes in the bottom right out there. And that's going to give your task market profiles out there. So we get from we get back from the spray. Okay. Things are moving along just a tunky dory out here. Of course I'd love to get a call from you eight seven seven nine two seven six six four eight. If you're not currently using the Taz profile scanner when looking at setting up your trading opportunities, then your arsenal is short a mighty weapon. The Taz 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 Heavied by Steve doll Taz 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. You also gain access to the webinar that Steve doll and Tom O'Brien just hosted the best way to use the Taz profile scanner to profit. This webinar archive is available for all subscribers immediately upon signing up. All new subscriptions also come with a 30 day money back guarantee so you have nothing to risk. Start your subscription by visiting the front page of tfnn.com today and you'll find the Taz profile scanner under the services tab. Sign up today. 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Many of our new listeners have heard about the Tiger's Den. The Tiger's Den is a lively community where professional traders and investors can meet, exchange ideas and information in a comfortable moderated atmosphere. Hear all of the TFNN shows, plus see all of the charts as they happen live and have access to archives of all of those charts. You can test drive the Tiger's Den absolutely free for 30 days and greatly enrich your knowledge of these markets and how to make your money work for you. Details on the Tiger's Den are on the front page of TFNN.com. 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. Call now toll free at 1-877-927-6648 internationally at 727-873-7618. Sorry for that initial segment there without the screens properly being set up, but we're all good now. Speaking of all good now, we're going to go out to Palm Harbor and speak with Jim. Jim, thanks for calling. Thanks for holding. How are you doing today? I'm doing good, Steve. How are you doing? Very good. Thanks very much for asking. And the ticker we're going to take a look at ticker symbols WMT folks. That is Walmart that Jim is calling in to discuss. And Walmart right now trading in between its profile levels for both the daily and the weekly timeframe. Jim, how can I help you out? Well, I'm not in the stock. I was just wondering if it was going to hold up or fall back to like the gap that was on. Let me see what date that gap. In the 1-08-ish area. So here's what you know. And I guess to answer that question, it's really about finding and identifying support and resistance. So as we were initially going to you, I had mentioned that the daily and weekly time frames that price was trading with inside its range of support and resistance. So the smaller range right now is a daily timeframe chart. That's a left-hand panel. And it's a bullet-structured profile. It's been around for several weeks now. The bottom of which is 1-17-13. The center line, which is very close to that is at 1-17-43. And the top, which is resistance, is 1-19-85. So it just continues to trade sideways. If this is going to get back into that gap area, and what Jim is referring to is back here. It looks like the trading day of August 15th. There was nice big gap to the upside, the bottom, which is 1-10-16. And Jim is wondering, will price pull all the way back into that breakout area? And Jim, the only way that's going to happen is you'll need to see this bullet-structured daily profile fail. And that would be a close below 1-17-13. Now, if you did get that, and assuming the same profiles are in place out there, the next level of support from a profile perspective would be 1-14-93. So the queries could find support there, which is before your 1-10-ish area where that gap is. So I don't have anything here inside the charts that we're looking at. And I haven't pulled up my white background charts. We really don't need to at this date, because this really helps us to understand really your query, which is, you know, we'll get back into that gap. And right now we know it's trading between support and resistance, and support will have to fail. Does that help out? Oh, yeah, it does. I just, like I said, I'm not in it. I was just wondering, you know, about a good entry point, and I thought, well, probably the gap would be the best, but I didn't know if it would potentially get down to that. Could be. You know, there's this other possibility that's going on inside the markets itself. And actually, Walmart is really a perfect example of it. It's something to really be able to watch. This is where really knowing, I'm not referring to you, Jim, but just everybody that's out there, as far as what I'm going to say, it's really important to understand the proper makeup of a Japanese candlestick. And for example, on this monthly chart here, there are many people that would be looking at last month's candle, the month of November, and calling that a shooting star. And that would not be correct. And if you're going to use the candles associated with other patterns that are out there, you'd get snookered because that is not a bearish reversal candle. Now, granted, price sold off from its spike high out there, but it's still not a bearish reversal signal. Whereas the top that formed back in 2015, I take that back, the January 15, 2007, 15 out here, perfect example of a shooting star, the Rosalindum indicator on a monthly basis, and then a pullback into the, it's a TD set up nine count bottom. What I really wanted to be able to share with you is the fact that we're now in, or last month was bar number eight, price been moving higher, doing a less relative energy in that pullback that you're looking for, Jim. If it does form, we could easily see some type of bearish reversal candle. And if we were to see Wal-Mart closed below 1503, and I know you're looking for an entry price, this could say that you've got a more serious decline underway because of the larger term, longer term, monthly timeframe chart inside of Wal-Mart. So that's kind of the bigger picture. In the Dow and the components of the Dow, many of them, not all, but many of them look just like this. And it kind of makes me think, Jim, something to think about. Alrighty? All right. I appreciate it. You bet. You bet. Good to hear from you. I was Jim in Palm Harbor, and that is a Wal-Mart, which right now is just simply consolidating sideways in between support and resistance. Again, 117 to 119. Jim, thanks so much for calling in. No other requests. No other phone lines are open. Email lines are open. But let's go take a look at the markets. A couple of things that I had mentioned during that first segment that we can go back to. One of those was the spot volatility index. So let's pull up the spot volatility index symbols out here, futures contracts, if you will. And this takes us all the way out to August of 2020 if you're watching us on Tiger TV. Now, the most important thing to be looking at, you could be looking at the panel in the lower left, and then if you were doing that, you would look at its blue line, which is at 1401. That's the 50-day exponential moving average. And what price, when the spot volatility index that is, is trading above the 50-day exponential moving average. That indicates to Stevie and you that there's tight liquidity in the marketplace. What it really tells us is that this is where declines and significant declines can occur out here. So it's a real key to watch that. Now, you don't have to trust me. I don't want you to trust me. I don't want you to believe me. I just want you to believe your eyes. That's the whole trade what you see. That means I owe Larry another dollar for utilizing that, you know, because he's got that trademarked out there. But here's what it is that's really important when we take a look at the spot volatility index. In this case here, I've got the S&P 500 up there. The bottom panel is the spot volatility index and cordoned off, so to speak, in squares and rectangles out there are periods of time where the spot volatility index is either above or below its 50-day exponential moving average. The yellow areas are the ones where the spot volatility index is above its 50-day exponential moving average. And what you will see there is price tends to go sideways or lower out here, whereas when prices below the 50-day, those would be the green profiles or the green rectangles out there. Price typically moves higher to sideways. So we did have one heck of a nice rally so far back to the highs of just from back on November 29th. But now you've got that spot volatility index, which is living above the 50-day exponential moving average out there. And folks, that is a time to be cautious. But, you know, you put this together with regard to where prices trading in relationship to its support and resistance levels, and that would take you back in essence. I'm from a daily perspective back into the ESMini out here. So with the spot volatility index above the 50, if it stays above the 50, we're going to see price inside the ESMini get back to the 3117 or 3097 area, the center or bottom of its profile level out there. But that is a important wild card. Just out of curiosity, I don't know what the answer to this is. Where is the advanced decline oscillator? So it is above zero out there. So if you're wondering why haven't things really started hooting and hollering to the downside, it's because the market breadth is still in bullish configuration, which would have the advanced decline oscillator just above zero. If that thing gets back below zero, while the spot volatility index is above its 50-day EMA, we're going to see at least a retracement or something even more serious than that. This is Steve Rhodes with TFNN. Would love to hear from you. 8779276648. Or you can always send me an email, steve at TFNN.com. In that subject heading, please put radio show question. Dow's off 77, S&P down five. We'll be right back. I'll teach you to do what most wealth managers tell you can't be done, which is how to time the markets. I'm Steve Rhodes, author of Mastering Probability and for the last 12 months, Timer Digest has been tracking my newsletter signals, which have earned me the ranking as their number one market timer in 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. 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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 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. This segment is brought to you by Think or Swim. For more information, just click the Think or Swim banner on the front page of TFNN.com. Welcome back, guys, folks. We've got a couple of questions that have come in. So let's go to those. The first one coming in from Earl. Earl the Pearl writes, and he says, hey, Steve, hey, Earl. He writes, in the past, you said, uh-oh, uh-oh, if I said something, that's dangerous. In the past, you said the market could pull back to the June 2019 low. Is that still a pullback? Maybe you're asking, is that still a possibility that that could happen in this bull market and still be a bull market? So, Earl, if I may try to answer your question the way that I'm interpreting it. First, you're asking, can we have a pullback into the June lows and still be in a bull market still? And so my answer to that is absolutely, positively, yes. So, I mean, I ask a question like this to everybody that's listening in out there now. There's several answers to this, but what's the difference between a 10% pullback and a 20% pullback? Yes, one is 100% more than the other, okay, but in percentage wise. So you got me there. But what's the difference? The difference is we call one a correction, whoever the we is, whoever created this, and the other is we call the other a bear market, right? So the idea is that if you get a correction that's more than 20%, now you've entered bear market territory. My contention is I don't have the time to do that right now. We have done it in the past that this bull market run and there's an actual gap that is still open back there back in 1974. And that's when this bull market, this leg of the bull market that we're in took off. I know there's a lot of people that want to celebrate the 10 year anniversary or something like that out there. You know, they look at charts differently than Stevie does. On average, you get a 10% correction at least once a year, and about every three to five years you get corrections that are 20% or more. And you and I, those of us that have grown up in the Fibonacci world would realize that a retracement from low to high out there of 61% would be normal. Many people will just simply buy those retracements out there. Yeah, it's all about a definition, Earl, of a bull market. You can have bear market corrections in a bull market. So I may be using vernacular different than you use it, but I'm sharing with you my interpretation of it. So how can the market pull back into the June area? In the Dow, the June area as an example would take us right into the timeframe, obviously till June, but we're taking a look at the horizontal monthly, horizontal trading ranges for the Dow. And right now, Earl, let's just use the information that we've got. The Dow cash in to see trading out at about $27,939 and change out there, still below the November low, which is $28,174. So Earl, I'll answer kind of go beyond your question out here. If I see the Dow trading above $28,174, then with regard to going lower, I'm not really focused on the going lower, I would say to you that instead the Dow is likely to head up to $29,036, maybe even $30,720. $29,036, that general area is the top of its next monthly horizontal trading range. We are in the favorable seasonal cycle, but I need to see price move above the top of February. Why would Stevie need to see that? Why do you need to see that? Well, you need to see that because as we take a look at the Dow equity futures contract, well, it's got two, really three, topping patterns out here. That's letter G. You've got a roads momentum indicator top. That's number two. You've got an A to B equals CD, a sell the D point out there with the bearish engulfing candle. And price just simply bounced back to its resistance level of Stevie's green line out there. We're actually trading below that. Stevie's green line is about $2,806 as we speak right now. So you've got a important or significant topping pattern in play right now. Now you may ask yourself, just get rid of the A to B equals CD pattern. Is that important out here? Well, if I just pull this back, just a tad or if you're watching us on Tiger TV, and you tell me these roads momentum indicator signals here, this is the Dow equity futures contract. Actually, if I can find the Dow chart out here, what would I have to do to do that? I've got to change. Let me give me a moment here to see if I can just change this over here. Because I want to stay with the Dow versus the equity futures contract just for the moment if I can, which I can because I'm controlling the show. But even though I'm controlling the show, where is it? Is it right here? Give me a second to try to locate this. Yeah, I think here it is. Here is the Dow, the cash industry. And what you're going to see out here, these arrows are showing you, and this is 2019, you're going to see the roads momentum indicator tops and bottoms. Now you really need to know how to use this pattern. I'd love to teach you. If you become a subscriber, it happens to be on your members page out there in the archive section. So great pattern to work and look at how it's identified the tops and bottoms inside the Dow cash industry. And what we have going on right now is a top that had formed inside the Dow using this pattern out here. So what I use for that line of demarcation now is we trade over this pattern. We're in that favorable seasonal cycle. We would then see the Dow move on up to 29036. And I've developed a little bit of a presentation out there that I will do in the segment with Tom today at about 315 or so Earl. So I'd suggest that if you have the opportunity to watch the archive that listen back in on that because on that what I will share with you is the downside potential that we're looking at. And the downside potential going back to your question now everything has to come about at the right time here suggests that the downside the June lows probably lower than that. But let's just deal with this one step at a time one pattern at a time right now the pattern that isn't play out here is topping signals I'll go back to those equity futures contracts here. Let me just switch back to that and in each of them and many of the cash indices have topping patterns if not just the simple sell the D point of the A to B equal CD pattern here inside the NQ you've got that you've got a you've got a seventh wave move letter G out there. And here in the NQ which has been very strong where is it finding resistance. Stevie's green line. That's priced at 84 14 were traded 83 91 out there. So I'd say that right now today the important thing is the market breadth inside that New York Stock Exchange. If that New York Stock Exchange advanced decline oscillator line starts trading below zero out there. And right now it's above if it starts trading below zero combined with the spot volatility next above the 50 day expansion moving average. Well that is ripe for a decline. And maybe the decline is nothing more than completing an A to B equal CD to the downside inside the Dow. I'll just simply hear since I've got it that Dow equity futures contract would give you price projections. Let's go ahead and put them in the darn that didn't work. Let me do this again. Sorry about that folks. My finger on my mouse got a little too itchy there. So you're one to one A to B equal CD as we expand this out here would take you down into the twenty seven one sixty two twenty six nine twenty one. And what I would say would be at least the twenty six six fifteen area that would be the more likely target if in fact we did see an A to B equal CD to the downside and a clear close below twenty seven three thirty seven. That's another that's a key level of support out there. So Earl the Pearl. I hope that helps answer my questions to you as best as can be. I see things differently I suppose. And for me it's just simply knowing that a bear market is nothing more than a little bit of a larger correction. Steve Rhodes with TFNN first one that you'd like to avoid at all possibility. We'll be right back. If you're in the CD market and looking for a secure investment the Tiger first mortgage program may work for you. The security for these first mortgages are building lots in the tax opportunity zone in St. Petersburg, Florida. The tax act of twenty eighteen set up tax free zones across the country where you can build and hold for ten years and pay no tax on the profits which makes these lots valuable. The investment is anywhere from thirty thousand to seventy five thousand. The interest paid is seven percent yearly paid on a monthly basis. 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N. D. X. off about six points and no real significant changes since we came on air. Let's go to our next question this one coming in from L. B. L. B. writes in and says hey Steve I bought into W. R. T. C. A while back it's had a great run. Can you give me your short and long term thoughts on this box. Let's go take a look at now. This is trading above L. B. this trade above the daily and the weekly profiles are no monthly profiles. This looks like this is an IPO from back in June of last year. So still not enough data to give us any kind of monthly signal. So trading above resistance. That's a beautiful thing. But I see Steve these other tools and see what we can see out here. Let's begin by looking at the daily. Lee I think we'll take a look at the daily and assume that's our short term signal out here now. The way that one of the patterns that can form the tops and bottoms would be that rose momentum indicator signal. And when this finally did bottom back here on November 7 it was that rose momentum indicator. So it's when prices pushing itself in this case here down lower but without the energy behind it and energy is really really important out here. And if we take a look at this form that nice bullish reversal candle on November the 8th. And the thing has continued to move higher. Now it's trading out at about 584. And so support levels on this. And one of the things that you really like about this L. B. is right here the trading day believe it or not of November 21st. This was really a key day for you. At least utilizing Stevie's tools. That was the day that the oscillator and change line changed from red to green. And at the exact same time that that was happening. Price was testing that line. It bounced off of it. That was a bullish signal for you. And that has resulted in that. There's an A to B equal CD. This could be a Gertley cell pattern that is forming the A to B equal CD that I would draw on this looks like this. Well it's close to that. There we go. It's really more like this. You can see you're in the stage here with the 1.618 area at 630. But you've got another resistance level 719. Short of some type of various reversal candle forming LB I would stay with this trade 719 looks to be the target. OK. So that's a daily timeframe. Let's go look at the weekly and see what we've got here. Looks like somebody in the den has posted something about rap technology. My den screen is very small folks. I can't see or follow all the conversations. Just just a few lines of it out here. But if we do take a look at the weekly timeframe chart. Well this tells us the picture of support and resistance for you. Now support is three dollars on a weekly basis. Support three dollars based upon that TD nine setup. And what price was pulling down from that roads went to the indicator bottom was doing it right above the three dollar level. That's actually nice and bullish out there. Price forms a bottom above support. Beautiful thing. Now what price is doing for you is moving up to resistance. So on the weekly base your resistance level six and a quarter which you got very close to last week. The high was last week was see if I can find it here real quickly. Six oh eight versus six and a quarter. So you're up towards some resistance now. I would just simply use stops. I don't know if this is a trade for you. It's an investment. But I would just simply at least keep some stop in place. Now the average true range on this instrument is 46 cents in theory. In theory price shouldn't pull back beyond the one point six one eight multiplication of that average true range. I know I had to think about that for a while. How was I going to say that. But basically I'm asking you multiply 46 cents times one point six one eight. And you know you put your stop below the close. Let's say the close of today below that if that stop is OK with you from your trading standpoint and everything is good. And if it's not well then you've got something else to consider out here. But I don't see anything bearish just yet. But we do know that price had made its way up to resistance an important key resistance level. So I'll be I hope that helps you out with the trade and best of luck there. Let me know if you need anything else. Dan writes in and Dan is saying a Steve with one biotech or another going bonkers every day. Can you please take a look at HEPA. Not Peppa Pig but HEPA HEPA and not a HEPA filter out there. But the ticker symbol HEPA which is happy on pharmaceuticals. And let's finish reading the question out here which I'm trading on the long side. But there's time and also appreciate a read on another ticker symbol out here. So let's just take a look at HEPA on pharmaceuticals. I believe we'll have enough time and a price right now what it did here today as it came back and attested a level of support old resistance that appears to be new support. And that was the top of its daily profile form just a few days ago out there Dan the man Levitane and that's at $5 and 26 cents out there. So as long as price stays above that that's a beautiful thing on the weekly HEPA and pharmaceuticals has the top of its profile at 445. So we've had two weeks of closes above that last week in the week before. So that looks pretty good out here. You got to be careful with this. Well I don't know this looks this. I don't like the volume on this is so sporadic. And when I say sporadic folks what I'm referring to is for example the day of November 12 86000 shares versus let's say the day of November 21st 27 million shares out there. Geez you're talking about bonkers. Let me just take a quick peek out here. See what else we see on Stevie's shorter term or the daily chart out there. I don't see anything. Don't see anything more than that. So your question was I take a look at it. I don't see anything bearish here and today is rejecting level it's called level one area of support again the daily top of that box out there. Now price got below 526. You'd be looking at 475. Maybe even move down to 371 out there. But that seems to be all I've really got for you at this stage of the game. We take a look at TEPA pig or HEPA HEPA HEPA in pharmaceuticals. Let's go take a look at the other requested symbol outer A R W R our war out there. Let's go see what this is. Now this trade in the 89 it's got a different different volume A W A R W R. I want to get that on my other chart of a can a W. If I could just learn how to type A R W R. It's actually I cannot as they say chew gum and walk at the same time. It's terrible isn't it. Anybody else got that problem out there. You can't chew gum and walk at the same time. Yeah. Well in any event if we do take a look at Arrowhead Pharmaceuticals this thing has been a rocket ship out there. This thing identifying a nice bottoming signal back there with that key reversal session. It was a TD set up nine count bottom. That happened. I was looking at that bar on October the first out there. Man that was a nice move. Let's just do a quick wave count off of the low of that bar out there gets to wave number seven forms of bearish reversal candle right now price just dancing along Stevie's oscillator and change line. You get some resistance up at the up at these highs out here that bearish and golfing candle. So your resistance level is going to be the high. This is again a daily bar. So you're looking at that high of November 30th trying to get the price for you here that high is 73 72. So it's bullish. You've got here's the struggle. It's very much looks like some of the daily equity futures contracts. We've got topping signals. So you know you've got resistance. In this case here you identified this with wave number seven and then bottoming or support level which is held. Yes price is trading inside its bearish structure daily profile but prices still dancing along Stevie's green line. This thing here remains a bullish but you're in between support and resistance on this out there Dan. So that's what I see. And you've got a weekly TD set up nine count pattern. So you've got a topping signal out here. So just be careful. Again the use some stops average to range over the last 10 days on this instrument $5.32. We get back from this break. We're going to go answer a question that was posted in the den about the S&P 500 moving higher into about 31 54. Steve Rhodes with TF and then we'll be right back. Since 1984 Basil Chapman has been using the 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 that computer software which included the standard market technical indicators enhanced the degree of accuracy in 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 dot 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 dot com. 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Primal edge formulated and approved by Nico and Paige of living a primal lifestyle. Buy it today for just $89. Click on the primal edge banner on the front page of TFNN dot com. This is David White. Stay tuned because coming up next is the power trading hour right here on TFNN. Welcome back folks. So the question out there inside the Tiger's Den we'll try to cover this here during this two minute wrap comes from John. John writes in and says what do you think? Is the S&P forming an important top in the 3154 level? And he's referring to the highs of November out there. As time approaches January 18th, Marty Armstrong's economic confidence model date out there. And so it's possible. John now is taking a look at the S&P 500. Here's what I would suggest. If we see the S&P start trading above 3154-26 that is the high of November, then what I believe will happen is we'll see the S&P 500 continue to move higher through the end of the year. Could be through the end of the year. Could be through the early part of January. Could be through that ECM date that you're referring to. But the key is going to be is price able to close above those or trade above those November highs out there. If we take a look at all four cash indices you'll see that with the exception of the Russell 2000 which did tick above that on Friday. It's trading below that right now. But if we see all four of these indices trading above their November highs that John my anticipation expectation is that we will see price continue to move higher through the end of the year out there. However, that's a potential problem. The potential problem is and we just we took a look at it briefly out there, which was the Dow's rose momentum indicator topping signal. So if price able to take that out, it should move higher. But here's the issue. Right now, if we were to go take a look at the health of the Dow from a long-term standpoint, and this was touched on by Jim and myself out here. We took a look at Walmart. Look at that right hand column. M stands for monthly. RMI, the rose momentum indicator pattern. And look at all of the topping patterns, either confirmed or signals out there. Let's not worry about that. 16 more than half, more than 50%. And so you are asking about a cycle inversion, John. Here is your answer. Right here. There are problems in River City and the Dow. But we need to see where is it that the Dow trades between now and let's say the end of January. If we see moves above 3154, the market should continue moving higher. Folks, thanks so much for being here. Stay tuned. Your favorite polar bear, David Weitz up next. Tom O'Brien from 3 to 4. And I'll be back with you on terrific Tuesday. Have a magnificent Marvelous Monday.