 The following is a presentation of TFNN The Trader's Edge with Steve Rhodes All now toll free at 1-877-927-6648 or internationally at 727-873-7618 The Trader's Edge now Steve Rhodes Good morning folks welcome to the December 28th the terrific Thursday edition of today's Trader's 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 hope enough there's having a great day hey let's make sure we have an extraordinary one now the easiest way to do that is to always remember that life is happening for us not to us that's right when you and I make that one little 2x4 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'll go figure out what those bulls and bears what those buyers and sellers are communicating to you and I at just past 11 o'clock in the morning I want you to know I'm absolutely grateful for your presence here but even more important than that and that's this during this next 53 minutes I'm here to serve you so feel free to pick up that phone dial on in at 877-927-6648 and if you've got a question but you can't call in we've got your back you can send me an email you send that off to steve at tfn.com and inside the subject heading please put radio show question of course if you're inside our tiger's tail well then any in every ping we'll do so let's go ahead and get this show started on terrific Thursday of course this is tiger financial news network I'm Steve Rhodes welcome to the show a bit of a mix bag out there the mix goes like this the dows up 53 the s&p's up six and a half that's about a little over one tenth of a cent same for the nasdaq which is 25 points the upside russles down for two tenths semis are up six points I get a little over one tenth of a cent you've got gold off eight bucks four tenths percent silver's down nine tenths or 21 cents lights recruit up 53 pennies she's trading out at 73 60 the 30 year treasury printed out 125 16 that's off 12 ticks and got a big move inside a natural gas off 10 cents trading out of 254 let's begin our day by take a look at where we're at with the daily equity future contracts out here so we're going to change screens we'll go to our white background screen give me a moment we'll get over there and we're going to take a look at all for the es in the upper left the nq the upper right the dow lower left and the russell the lower right what you're going to see here is each of those have roads momentum indicator signals that have been triggered the x many that's the only topping pattern that's in play the nq that's the only topping pattern that's in play the ym the dow equity future contract that's the only topping pattern in play the russell 2000 has a a to b equal cd pattern in the upside so bearish reversal candle bear would form two different tops now in the case of the russell 2000 its equity future contract it has formed a new daily profile and that new day or it's attempting to form it and that new daily profile is below price that's a bullish signal out there now that doesn't mean that price can't slice through those levels but i'm just sharing with you what the what this new profile is indicating to you and i uh a bearish reversal candle here would also confirm a roadsmen to mitigate our top you've got your first level of sport which is the top of that new profile it's also during change either both hovering around 20 58 below that would be 20 29 and below that would be 2009 the close below 2009 90 would generate a change in trend signal for the dow or the russell 2000 equity future contract so that's what we're looking at as we are trading at december the 28th is that important i think it's boy grand day important and we're going to show you the reasons why so now what we're going to do is we're going to switch back to that black background screen and the reason is because i put together a little bit of a presentation and that presentation here should get rolling here momentarily let me get to the proper slide there we go okay so that's what we've got now let me just get rid of something out here all right so now we take a look oh why did steve do that let's try that one more time from beginning get this out here there we go okay so now what we're going to take a look at the first thing we're looking at is this the s and p 500 this is its 95 year election year seasonal cycle that means we because it's 95 years we have 24 combined years and that's what this chart here represents so over those election years again you've got 2020 1996 72 48 16 92 68 44 12 88 64 40 you get it out there so all the election years and what does this show us this shows us that on average the s and p 500 forms the top in the early part of january that early part of january right around really the beginning of the year it could be right out of the gate could be that first week out there sometimes those tops come up to add early that's why we're really paying attention to those roads meant to mitigate our tops now if and i don't know whether or not price will follow along this analog problem if in fact the s and p or the indices decide to follow along this suggests that we see a nice big swoosh nike swoosh that is down into the may june time frame and then we get one heck of a nice rally takes us up into the early part of september then that move lower into the october time frame and then we get that so called santa claus rally effect steve doesn't start around december because the real rally as you and i know really starts around october just as it did this year so this is the pattern to be paying attention to or is one thing to consider why is it one thing to consider well how do markets during those election years form tops that's a great question let's see if we can answer that question so now we're going to take a look at the 2020 election year tops out there what took place well we can see that there was a td9 tops that formed on january 22nd that led to a retracement to move lower out there for about a week and a half or so and then we saw a rally and that rally formed a roadsman dominicator top on february the 19th and then what do we see we saw the markets move lower much much lower of course we're also dealing with covid 19 at that stage there but we've always got something that could go to the downside shoot we've got a couple of wars we got all kinds of things out there but this is what took place in 2020 let's not stop there as one year as an example an election year how the s and p500 forms tops now we won't want to do that we want to go back to the prior election year before 2020 that takes us into 2016 turns out that in 2016 the actual top formed on november 3rd 2015 that was a td9 count top again i mentioned earlier sometimes these tops can form a little bit early as a january uh site as january came in we just simply saw the s and p500 move lower into the february time frame out there so the point here is that one of the signals that you and i pay attention to every day during the 11 at 12 o'clock although tomorrow morning it may be between eight and nine i'm still waiting for confirmation odds favor it between eight and nine out am i not on the right chart yeah i'm on the right chart okay good uh okay uh brent we'll just have to hold here we'll come to brent and we come back from this break here and then i'll come back to this uh out here but here if we take a look at now 2012 2012 roseman dominicator signal on april the second and it was confirmed on may the third we had that bearish reversal candle that was a 2012 top again one of steve's roseman dominicator patterns in 2008 and here those blue vertical lines show us the beginning and the end of that year basically the high formed on 2008 on the very first day and it was cyan that's what's really called the january effect out there 2004 we had a roseman dominicator top on january 27 a wave seven top on february uh 17 marge eighth was roseman dominicator top out there these signals that you and i look at like the roseman dominicator signals we're looking at right now in the daily equity future contracts that's important to pay attention to steve roseman tf and i'll be right back if you're looking for potential trading setups in the stock market then rocket equities and options report is a newsletter you should try tom yo brian delivers options and equity trades when the markets present them using a combination of fundamentals and technicals sign up for rocket equities and options report today with a 30 day money back guarantee so you have nothing to risk for all the details and to start your subscription today visit the front page of tfnn.com tfnn educating investors you might think that if you want to be successful at trading in the stock market you're going to need a crystal ball after all it's impossible to predict the future right like any endeavor in life before you decide it's impossible get some advice from the experts you might find that it's not so 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 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 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 knowledge with anyone who wants to learn and he shares his vast amount of trading knowledge every day in his mastering probability newsletter steve's award-winning newsletter mastering probability is delivered every trading day with updates throughout the afternoon sign up for steve's market newsletter mastering probability and you'll receive access to seven of steve's educational webinars absolutely free at tfnn all our newsletters come with a 30 day money back guarantee so you have absolutely nothing to worry about visit tfnn.com and try mastering probability 30 days risk-free today tfnn educating investors 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 tiger's 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 toll free at 1-877-927-6648 internationally at 727-873-7618 folks let's go out to martinis california and speak with brent brent thanks for calling thanks for holding how are you today oh i'm doing well steve i just wanted to wish you a happy healthy new year and hope everything's going well thank you appreciate that same to you and your family everything is good here we're going to celebrate a very cold new year is here it's supposed to be in like the 50s 60s for me that's absolute freezing i know you laugh at that hey it is what it is just just telling you the truth we're wondering whether we're going to go on for new year's eve because that's what i like about you steve is honesty exactly exactly so i know you call to take a look at fxi that's one of the etfs i believe that tracks like the china 25 or something along those lines i believe tell us what you're doing and how i can best help you well i decided to get into this initially i was looking at uh olibaba by the sum of the the large cap china stocks and i decided to go with this instead okay just because uh you know the for my options it was just an easier proposition and and the price point was much better so my main question was i have my stop in place i'm just wondering what areas to the upside does it have to clear to you know keep this going hopefully okay so i'd say that the first area that fxi that you would like to see it clear would be 2446 now that's an approximation 2446 is what is the number right now and that is the weekly oscillator and change line which is red so to me that is one of your areas now when i take a look at the monthly time frame chart we can see that on a monthly basis prices in essence test of that level that level is 2490 and we've seen a high of 2492 this month so really 20 and then the bottom of its profile Brent is at 2506 so i said 2446 and i meant that but now when we take a look at it it's really 2506 that's an area that if you can clear it that's going to be a positive why because you'd be above the odds of a change on the weekly you'd back and be back inside the profiles on a monthly time frame and i would have to assume let's see at the 2506 level price will be taken on the swing point from december 15th out there in fact you would close above it that high as 2444 now i don't know if new profiles will form or not let's assume that this all plays out the fxi continues to move higher the place where if this was only a counter trend move Brent the place or the area where this would find resistance or where it would top out and that's assuming there's no new profiles that form would be between 2470 and 2493 and the reason is because that's a bullish structure profile price has been below that profile ever since it formed again when a profile forms above price that's a bearish message when a profile forms below price like the Russell 2000 equity future contract is trying to do that's a bullish message so those will be the numbers with inside of fxi before i move on does any questions about that so far no that's great thank you Steve okay so then what i'm going to do folks is now i don't know Brent that this tracks either of the two asian indices that i that i track out here but i'm going to go ahead and put those up on the screen so everybody else can take a look at them and those two being the Shanghai that's your upper left hand chart and the hang saying now with regard to the uh shanghai index out here that says a nice rogment of indicator bottom that formed on december 21st you can see that now yesterday prices took out that red oscillator and changeline it's going to go target 3137 to any extent that the shanghai impacts that Brent you'd like to see a close above 3137 from an indices standpoint with regard to the hang saying the hang saying out here has just generated it has a td9 cal bottom and this morning's or last evening's action generate an a to b equal c any pattern to the upside its price target is around 1771 out there so it's probably the hang saying that might be more impactful on the fxi i don't do either of these Brent do you know from an indices i would imagine it would yeah there's the the big stocks that are in those indices are of course should have an impact and then of course like in correlation to that that should move out as well so i think that's that's helpful to you or should be helpful to you that you've got those two major indices that have generated nice bottoming patterns and they're both suggesting at least a further rally so if that's the case i think fxi should go back and target those levels that we took a look at but i keep an eye on these indices as well and as price approaches 3131 shanghai and or 1771 on the hang saying or at least maybe watch the a to b equal cd pattern and see how that unfolds so i think that's about the best help that i can't provide to you is there anything else anything on these charts that that i can review further now that was fantastic speed i really appreciate it i just hope you have a great day great weekend and a happy new year i will thanks much brent for the call we'll look forward to speaking to you again soon that was brent in martin is california so let's get to some other requests that have come in otherwise steve is going to fall very far behind and we don't want to do that the first came in from john in milwaukee wisconsin sjm milwaukee has a nice place in my heart out there i did graduate from nicolet high school out there was there for about five months never actually took a class believe it i took photography out there they didn't know where to put me and nobody knows where to put me you kind of get that feel out there but if we take a look at sjm that's the smugglers company out there john and milwaukee is asking the question what price would you buy for a long-term hold he's also asking what price would you sell if it begins failing out here so what we know about smugglers is it has a nice daily td9 count top we know that when you form a td9 count top that just simply says price should go ahead and pull back to support we'll wear support well you've got profile levels to take a look at and you've got that oscillator and change on it that's exactly what took place on the trading day of december 20 price pulled back it was also with inside a bowler structured profile so that's where you would find support as well which it did now what price was unable to do was take out the top of that profile turns out john that you have a new profile that is forming today and their new profile is within the prior profile the message from a profile standpoint is you should expect a consolidation not the ideal area if that's the pattern that plays out here to enter either a long or a short out there so the resistance level is up at the 125 60 level and support is at 121 91 when i look at the weekly timeframe chart everything here looks hunky dory it suggests that price wants to go deal with this gap that formed out here this was the gap from the week that began on september 15th out there the monthly timeframe for smuggers is going to go ahead and confirm a td9 count bottom uh this month this should take price up towards 133 28 to 137 65 so the daily timeframe so the weekly and the monthly look pretty good you're looking for a long term hold out there um on a daily timeframe i would say if this is bullish price is either going to hold this 123 76 so that could be could be an area or 121 91 would be a level you asked where would you get out if it failed i would have to say at the 121 91 level because you still have that td9 count top you get below that that tells you about a change in trend and quite frankly that would open up a move back to 109 54 i'm not saying that's where price would get to but that's something that you have to consider so john in milwaukee thanks so much for writing in i hope that provided you with the answers you were looking for if not right back to me we'll try to get to that information um uh when we get back from this break there was a question are the daily indices showing a top so and i didn't write down whose name that came from my apology we'll go take a look at the daily indices out there remember we looked at the four equity future contracts those had roads meant to mitigate our signals and that took you through election year cycles election years out there and we just took a look at the last three or four and the types of tops that form out there that makes this question quite important the gold report as a precious metal gold is still king it continues to hold the most effective safe haven and hedging properties across the global major trading hubs of the london otc market the us 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more important one a bearish reversal candle would then generate that top the s and p 500 the same thing it's only topping pattern is the erosement to indicator signal that needs a bearish reversal candle of course all these need closes below those green oscillator and change lines to confirm that top at a minimum the ndx 100 is in wave number seven that's letter g also a erosement to indicator signal the Russell 2000 also erosement to indicator signal that needs a bearish reversal candle to confirm a top as does the semis the semis also have an a to b equal cd pattern has not gotten to the d point of that a to b equal cd but a bearish reversal candle here would confirm a top the transports have not attained their one-to-one price projection level i don't have any other kind of topping signal for it oftentimes the transports don't really generate the same type of top that the other indices do at that same point in time then ask that composite wave number seven erosement to indicator signal again waiting for a bearish reversal candle new york stock exchange the exact same thing it's only top would be a erosement to indicator signal so the answer to your question are the daily indices showing the top the answer that question is yes that makes that other portion of the presentation that we did very upfront with regard to election year cycles what typically then unfolds what you're looking for in each of the what i can share with you or the exception of that one year it might have been 2008 where just simply the high was on that first day of the year and it was sayonara see you later hasta la vista baby all those that's the real january effect and so we want to certainly keep an eye on on that out there but otherwise all the other ones had either erosement to indicator top a td nine count top or a wave seven top and in a couple inches there were also one as i went back and took a look at them some sell the d-point so those are the four patterns that you and i take a look at during the traders ed show each and every day now somebody should ask the question well what could get in the way of the market's moving lower out there because that's the even better question out here and the answer to that is global capital flows let me show you as an example what i'm referring to those of you that listen to the show for a long period of time you you're familiar with this now this is the s and p 500 i'm just taking with the s and p 500 right now and here i've got the s and p 500 priced in um what do we got eight different major currencies now we can see the s and p 500 has not attained yet it's all time high priced in dollars that's actually a bullish signal now could be longer term than where we're at right now why because the way that markets top is when you see the s and p at new all time highs in dollars euros yen and pounds well turns out that we had a new all-time high last week priced in euros we had a new all-time high last week priced in yen for the s and p 500 this week we are at an even newer all-time high priced in great british pound so the s and p 500 should get up there to form that top now maybe it does that maybe we get up we form that new all-time high we then get that rose it was one of those topping patterns whether it's td9 account rosemond i don't know which one it will be i know that there's a plenty of rosemond communicator signals that are present out there but maybe that becomes a very significant top but this is really what could get in the way is international buyers you know if you're in europe and you've got boots on the ground which they do over there you want your money to flee that country and where is it flowing to it's certainly flowing into the s and p 500 and the u.s indices out there the same thing inside of japan the same thing inside of the uk the same thing inside of australia out there now australia made a new all-time high priced in dollars three weeks ago out there so this is what could get in the way we'll keep this in mind as we pay attention to the patterns inside the indices out there so hope that answers the question with regard to what the indices look like they're also set up it's kind of like a perfect storm usually perfect storms don't pay off but we're going to go ahead and keep an eye on each of these out here we'll try to do our best to guide you through what the markets are communicating to us now let's get to some more requests that have come in this next one coming in from vik who wants to take a look at coin we're going to change screens we'll be back to the white background screens momentarily and here you'll see the daily weekly and monthly timeframes on a daily basis its td9 count top was negated yesterday price above that green house that are changed line this suggests it wants higher price a bearish reversal candle would confirm a rogment dominicator top if we take a look at the weekly time frame chart it says pay attention to daily time frame why because it's going to confirm a td9 count top this week next week would complete that pattern so keep an eye on coinbase the weekly and the daily are suggesting we could be near a top soon the monthly is going to complete a td9 count top this month the end of december so everything here in coinbase is saying be careful it's getting ready for some type of retracement now price has got to close below that green oscillator and change on the daily time frame 175 02 or right around that level right now in order to generate something other than a neutral signal if a bearish pattern confirms out here so coinbase looks pretty good vika hope that helps you also wanted to take a tick symbol alt so let's fire up those screens and say what they're signaling to you and i and we take a look at alt what we can see here is that you've got a td9 count top that is going to complete this week what that should do is that should take price back to its oscillator and change line that should be the minimum move now the oscillator and change line currently printed in 965 of course you would never short a $12 stock i'm just simply guiding you through what the charts are communicating to us and at this stage they're suggesting pull back to 965 the weekly chart says i don't know what the daily chart is even thinking about because what i'm thinking about is moving up to 1594 well maybe you're going to get both maybe you're going to get the td well you're going to get the td9 count top no matter what now if price closes over that high that's assuming we don't get a new high today yesterday's high inside of alt was up at the 12 13 level you closed above that 1594 is almost a certainty why did you say almost a certainty steve all you had me on certainty well that's because we'll take a look at the monthly time frame chart $12 and 38 cents would be where a td9 count bottom which it did form would definitely find resistance so you'd love to see a close above 12 38 still pay attention to the daily maybe what this is signaling to us is you're going to get this daily top price is going to do a pullback test support that green acid and change line would be a perfect test and then a rejection would say that this is headed higher off to those other lofty goals out there at the 1594 level so i hope that helps you out with regard to both coin and alt let's go take a gdx for hector and patty and hector says hey steve on the monthly time frame or the weekly time frame i think it was a weekly time frame that maybe was a monthly well on the weekly time frame i think it was the weekly we're going to go with weekly figure it out stevo on a weekly time frame with the gdx it was a confirmed a by the d-point bottom it did that because that three river morning star so i believe that's what you did pick out hector so kudos to you on picking out that pattern his question is is this turning into an a to b equals cd pattern the upside well what you would need to see on the weekly time frame is you need to see a close above the december first high and that high out there is at 3191 the second thing you'd like to see is more than 133 million shares last week as you moved up into that area it was 117 million shares this week as you move up into that area it's 34 million shares even if we just divide 34 by 3 to get 10 million or so it's going to be well less than that b point of 133 million shares nonetheless if you do get a close above 3191 it will trigger an a to b equal cd to the upside steve roge with tfnn we'll be right back to finish off the gdx and look at xbi tesla sq netflix wolf pltr currencies commodities and bond markets are as important as ever right now with how they're driving the volatility in equity markets across the globe which is why it's a great time to try out teddy keg stats tiger 4x report teddy keg stat breaks down the 4x markets every monday using his 30 plus years of experience as a trading veteran of futures 4x stocks and options teddy releases his weekly 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daily profile and we'd be below the green us that are in change line that would tell us that it's lost its momentum the next level of support on the downside move is 3104 below that is 3046 and below that is 2768 out there so we take things one step at a time out here with regard to the gdx but right now it's not the a to b equal cd patterns in play it's that daily rogment of indicator signal and its profile so we really want to pay close attention to so hector and patty thanks much for writing in uh much appreciated gman inside the tigers that wants to take a look at xbi he's looking for a long position for maybe about a two week time frame we take a look at xbi gman you can see we are in wave number seven that's letter g now that can continue on for weeks and months all that that needs to confirm that signal would be a lower high you have a rose meant indicator signal that's present if that uh generates a bearish reversal candle that will confirm its top both of those tops here would suggest price pulling back to test support the first levels of support are the oscillator and changeline in the sense is right now around 87 99 that could be a by area the top of its daily profile 86 79 that could be a top area when we take a look at the weekly time frame chart prices taking on its prior swing point high now it's not an all-time high no it's not even close to an all-time high it's just simply a high from a prior there's two prior swing points out here i'm glad i opened up the chart let me get my crosshairs so you've got a td9 count top out here from august 12th the volume there was 65 million shares you're trading into that candle right now and you're doing it with 24 million shares so coming in light in the loafers we have another td9 count top that formed out here back in may may 26 37 million shares there again so far today we're 24 million shares so prices up towards a resistance level out here again that other area of resistance to the upside is at 95 18 so you want to keep an eye on that knowing that you're coming into prior swing point with lighter volume again watch for the bearish reversal candle and then the pullback now what you'd also want to do out here monthly chart by the way looks pretty good and suggests wants to make a move to 10198 so it's really the daily time frame now if we look at a 30 minute chart out here what we can see gman is that we have a td9 count top and prices lost momentum it's now back below it's also in change line this is likely to pull back the test 89 96 if you're really committed to this trade then 89 96 would be an area for you to consider or look around the concern is that the weekly and the daily are saying that this could be more of a top than just a short-term pullback out there so that's what i see when i take look at ticker symbol xbi when i put all that together with what is perhaps going to happen come the beginning of the year perhaps we'll just see based upon the patterns we're looking at in the seasonals out there we might be looking more towards the downside for a good portion of the year out there but we're going to take things one step at a time now let's go take a look at the request that came in from nicholas and nicholas wants to take a look at square and the question for from nicholas is is is uh you mean to do that uh is uh is a square topping turns out that square has a rogment indicator signal and what it needs is a bearish reversal candle to confirm that top so it has the potential for a top has a top right now no it has not the weekly chart is going to confirm a td9 count top tomorrow it'll complete that pattern on next week and it's doing that before price gets up to its td9 count breakdown resistance that's an 81 47 that's ideal for a top so the weekly says a top this week or next week the daily says i'm going to generate a top as soon as i get a bearish reversal candle and the monthly chart is this kind of trading sideways it has for over a year out here so it's when we take a good square to answer your question is it topping it's giving us those topping signals and hasn't confirmed that on the daily time frame and that's what you'd really be looking for there and then you'd be looking for a close bull the oscillator and change that is 79 11 they'd be having targets of 71 11 68 48 67 61 and 66 73 nicholas would also like like to take a look at ticker symbol w o l f so let's go take a look at it see what it is signal on to us and then steve doesn't have it must have been netflix that somebody had requested so and i didn't get to that's weird so let me get back to wolf out here let me just put this in where the square files are and then i think somebody put netflix and i screwed that up somehow but we'll go take a look at it i'm assuming somebody asked for netflix i wouldn't have had in there otherwise now we take a look at wolf his question is is this short of a well the topping pattern that you have out there is wave number seven looks like that's going to be confirmed today so is it shortable yes you have a topping pattern or looks like you have a topping pattern now what price first needs to do is close below the top of its profile that's its first level of sport 45 27 the next level of sport is at 44 60 the green oscillator and change line and then below that night oh whoa whoa you've got a new profile out here okay so 44 60 uh i was correct on the 45 72 then 44 and then the final level of sport would be at 42 29 if you close below 42 29 on a daily base you get a change in trend signal the weekly time frame chart remains bullish price above profile above the oscillator and change line the monthly chart out here is what i don't have anything other than price trying to get back inside this profile which will be accomplished your price close above 44 68 come tomorrow out there and you're at 45 24 right now so you got a little bit of um differing signals out here but the daily's in control because the weekly and the monthly are suggesting that they're not ready to top you really want to see price close first get below that oscillator and change line and then second take out 42 29 but those are the signals that i see when i take a look at w o f w o l f nicolas i hope that that helps you out i believe somebody put in a request to take a look at the netflix we're going to take a look at netflix td9 count top that formed a few days ago bearish reversal candle as well that's a shooting star that confirmed a roge middium indicator top that was on december 20th now what price has been doing is splitting the oscillating back and forth of that oscillator and change line but if it can remain below it it being 493 28 right now that should open up the door for move back to the 459 83 to 457 21 area you're gonna you have a completed td9 count top that took place last week price should target 469 94 the monthly chart is trying to form an a to b equal cd the upside the price level needs to take out to do that is up at 485 even steven that had 168 million shares this month we're up here with 76 million shares so even if we get a close above it it being 485 even steven we're trading above that right now you'll get an a to b equal cd powder won't be confirmed doesn't mean it won't reach fulfill that but first we're getting signals here the price should pull back and at least test that weekly oscillator and change line right now printed about 469 94 whoever wanted netflix the next request i believe that came in was from wasn't there was from duncan steve boy i really screwed this up didn't i okay let's go back to the beginning and let's take a look at palantir pl tr is the ticker symbol this is actually working out pretty good because it looks like i've gotten through pretty much everything so palantir dunk uh you're down below its red oscillator and change line that's bearish it suggests lower price that's the daily time frame the weekly so far it's holding profile support if you get a close below this is tomorrow a close below 1757 that's going to offer to your lower price with 1623 being the likely price target zero to a tfn will be right 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 and your inbox every day first time subscribers also get a 30 day money back 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to the fibonacci 24 7 newsletter today tfnn.com educating investors tfnn has just launched their new trading room 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 and now they are expanding their reach with the tiger's den available to all tigers and tiger's for just one dollar for the year there's no catch or at a cost when you join our community of traders in the tiger's den you can look over the shoulders of tom obrien and the other tfnn hosts while they analyze charts during their live tiger tv programs and join an interactive trading community with hundreds of members exchanging ideas interact with other tigers and tiger's as they share trading ideas news analysis and discuss the market action all trading day even at night and on the weekends the tiger's den and discord is accessible on mobile or tablets as well so it's always at your reach to sign up today and become a part of this educational community of traders just visit the front page of tfnn.com cheer out here and the only other thing really Duncan that I can add to this is you know what's holding price up at this stage here has been that gap to the upside wide ranging bar accelerating volume from november the 12th that had volume out there of 170 million as an example as prices pulled back it pulled back on december the 6th with 96 million shares it pulled back again on december 20th with 58 million shares but if that level fails you're likely going to go back and actually completely fill that gap out here but right now as long as price stays above that weekly profile resistance level that's a bullish signal out there and again that level's at 1757 to finish out the show we're going to go over to europe and take a look at the euro this is a repeater in park city and we take a look at the euro so what i want to get a take a look at i am not in the camp just yet that the dollar is getting ready to fall apart i think it could actually trick a whole lot of folks out there yeah there's the a to b equal cd pattern but most people don't follow the roseman dominicator signal and that's present we take a look at the us dollar index well what's going on with the euro because the euro represents 58 percent of that turns out that the euro which had a beautiful td9 account bottom back here back on october 6 is now taking on its td9 account breakdown resistance this is the weekly time frame that's at 1.1065 peter watch that price level come tomorrow if price does not take that out that's where rally would typically end and that would say that maybe this a to b equal cd pattern that cbs drawn in here is not going to come to fruition and that is really what the daily time frame chart is suggesting to you and i is that is a real possibility watch for some type of bullish reversal candle inside the daily time frame in the us dollar index if you get that you're going to head higher it's going to head higher out there metals will likely head lower and as we talked about earlier there's already a td9 count top that's present inside of goldilocks so those are the things to look at of course we're going to be taking a look at the early part of january at this stage here the way the charts are set up all kinds of tops are out there whether we look at the indices now say all kinds all kinds of roadsman dominicator tops are present out there they still need confirmation and if we get confirmation well that's going to be our signal go ahead and short the indices out here with the caution that global capital is still flowing to the us and it could negate all this wonderful technical analysis folks i hope to see you tomorrow probably will be recording from eight to nine possibly from the normal time frame have a terrific thursday i'll see you on fantastic friday take care folks