 The following is a presentation of TFNN. The Trader's Edge with Steve Rhodes. At 1-877-927-6648. Or internationally at 727-873-7618. The Trader's Edge. Now, Steve Rhodes. Good afternoon from TFNN. Welcome to the October 1st, the terrific Tuesday edition of today's Trader's Edge show. I'm your host, Steve. Perseverance Rhodes, who absolutely knows that each of us should always be pioneers of our future versus prisoners of our past. Hope everyone out there is having a great day. Hey, let's make sure we have an extraordinary one. And of course, the easiest way to do that is to always remember that life is happening for us. Not to us. That's right. When you and I make that one little two-by-four shift, it means we can find the gift in every set of circumstance. That life is going to toss at us. Now today, you and I, we're going to go check out the circumstance of these markets. We're going to go figure out what those 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 it at 877-927-6648. If you can't dial in, we've got you covered. Let those fingers do the walking. Send me a quick email, Steve, at tfnn.com. Inside the subject heading, please put radio show question. Of course, our Tiger's Den, any ping will do. So let's go ahead and get this show started on terrific Tuesday. Of course, this is Tiger, Financial News Network. I'm Steve Rhodes. Welcome to less show right now, the Dow off nearly 300 points. I was going to say nearly, but 302 points to be exact. Trade out of 26-615. S&Ps off 31 or 29-45 is the print. The NASDAQ is off a 7-tenths a percent. It's actually the strongest of the indices out here. 56 points, traded 76-93. Russell's up one and a quarter, 18 points. Semis are down 8-tenths a percent. New York Stock Exchange 1.1%. Wilshire off one and a half. Trannies, I take that back. They're the leaders to the downside up 211 points. That's a little over 2%. You've got the spot volatility next up 12% so far. You know the routine there. We'll discuss it again. We won't dwell on it too long, but watch for the end of day reading. If it's above 10% out there, you know what to be watching for, especially if you're an intraday trader of the futures contracts. You'll be looking for some type of pattern to form in the, well, it could form at any point in time, but you'd be watching for a bottoming pattern and then a bounce from there. You've got gold up 17 bucks, trading out at 14.89. We'll check into that. Silver's up 27 pennies, trading out at 17.27. And you've got the 30-year treasury up 16, about a half a point out there, trading out at 16.62 and 26.30 seconds out there. Lead that charges the upside, dollar-wise booking, holding 17 bucks. Alt of beauty up 13 or 14. That's 5%, not bad. McCormick and company up by 7% or 10 bucks and pennant group must be an IPO up 140. Well, I can't say it must be an IPO. It's up 146%. So they're having a good day. We know that. To the downside, it's Google. Up 12 bucks. You've got BlackRock off 11. TD Ameritrade off 24% or 11 bucks. Transdigim group up 2% or 11. So plenty to look at. What we're going to start looking at though, we had a couple of requests come in. So I want to go ahead and get to those first out there. A lot to cover today. And so I don't want to get behind and leave these out. The first question coming in from Phil. And Phil wanted to take a look at Tower Semiconductor. T S E M is the ticker symbol. So as we do with each of the positions that we take a look at, we want to understand where is price trading in relationship to its daily, weekly, monthly set of profiles out here. So we know that price today got back inside its daily profile. It is almost explored the bottom and the top. The bottom is 1934 and the top is 2041. The actual high today is 2031, it's a by 10 cents. So it's trading within the range. If we take a look at the weekly timeframe chart, its resistance level will be 2043. So again, price got up towards, so we know 2041, 2043 Phil, key level of resistance. So to the long side, you really want to see that area broken. Now today, the volume so far, 406,000 shares going into 237,000 shares from 913. So that's a positive. And then the swing point high that we're looking at is August 1st, 840,000 shares. So similar-ish type volume. And as long as price closes above 1963, suggests that 2041, maybe even a break of 2041, 2043, would be in order. The monthly timeframe chart price above the top of that monthly profile that formed about four months ago out there, I want to say formed, a break of resistance. Now let's go take a look at the other charts that we look for. The daily chart out here showing a TD set up nine count bottom that formed on the bottom was the, or the low I should say of that nine count was on bar number eight. Now that bar number eight formed before price got all the way back to the breakout area, which was 1849. That's the red horizontal line that is on my screen out here. Now again, what I don't have Phil is the, so from looking at all the charts, one of the patterns that I'm noticing is that there's a very strong bottom or top that forms when the low bar tends to, ends up being bar number eight versus bar nine to the bar following nine. That doesn't mean that the bar nine or following nine isn't a top or bottom because if we take a look at TSEM, here's what we can see. We can see right out here on August 2nd, the pattern, the only pattern that I recognize that's out there that identified that top was the bar number nine. But in any event, just take a look at the current session out here. We've taken a look at what? 2041, 2043. And now what we know is that 2046, that is the breakdown resistance area. Price above Stevie's green line, that's 1982 on the daily timeframe. So the real key is 2046. It's not 2041. It's not 2043. It's 2046. If you see a close above that, very likely you've got an A to B equal CD to the upside that would be completing. If we look at the weekly timeframe chart, what do we know about the weekly timeframe chart? In essence, the Stevie's oscillator and change line, that's the red-green line. About four weeks ago, a change from red to green, meaning the price oscillator is now above zero. With price above Stevie's green line, you have a rising price oscillator above zero on the weekly timeframe chart. This formed a bottom back here with the roads momentum indicator. This was in early December, late December of last year. So everything here looks pretty good. Everything here looks very good. You've got that resistance, which we saw from the weekly profile level out there. We said 2046 is a key number. Here's what I don't know. At 2060, 2060 was the old breakout level on a monthly basis, which price did hold that level of support, but bar number nine actually broke that support. That was back in, it looks like July. It says monthly, it can't be July. It could be. It says monthly. Give me a second here. I'll tell you exactly what month it was. Well, it was October. We were talking about July. It was in October of 2018. But we know that that wasn't the lowest low because a couple months later, there was a lower low back here in December. I'm looking at the monthly timeframe chart. What I don't know is if old breakout support becomes resistant, so far that has really proven to be the point thus far. The monthly chart prices above Stevie's red line, which is in 1916, so it says more counter-trend rally. So now what we're going to say, Phil, if you're in this trade, 2060 is the nut. If 2060, if you see it close above 2060, TSEM, Tower Semiconductor, is telling you it wants higher price and it's broken through resistance. Steve Rhodes with TFN, we get back from this break. We're going to go take a look at the Great British Pound, US dollar currency pair for Scott in Colorado. We'll be right back. 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 Dahl and Tom O'Brien just hosted, the best way to use the TAS 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 TAS Profile Scanner under the Services tab. Sign up today. Tiger Realty has the experience across all areas of real estate in the Tampa Bay area to help buyers and sellers make the most informed decisions across all price levels. From the price you should be paying per square foot in certain up-and-coming areas to the type of cash flow investment properties are capable of creating, Tiger Real Estate can help you make the best decision when it comes to all areas of the market. Before you make one of the biggest decisions of your financial future, call Tiger Real Estate LLC today at 727-329-8322 or email us at tiger at TFNN.com. That's 727-329-8322. Call us today. 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're just accessing your newsletter subscriptions. We even have new pricing in six months and yearly options. Check out the new TFNN.com now and experience all the upgrades. TFNN.com, educating investors. Call now. Toll free at 1-877-927-6648 internationally at 727-873-7618. Welcome back, folks. So we're taking a look at the Great British Pound, US dollar for Scott in Colorado. And, Scott, we have up on our screen right now. We've got the daily, weekly, monthly and the quarterly set of profiles for this currency pair. So the daily on the upper left, we know the price is below support. That's the bottom of its box. It's at 1.237. We know the price has held the bottom of the weekly profile. That level is 1.2292. We know the price is trading with inside a bullish structured monthly profile. A bullish structured monthly profile just formed right here, right now, today in the month of October out there. And then when we take a look at the quarterly prices sitting just below the bottom of its quarterly profile out there, 1.233. Now, the reason we're taking a look at certainly the longer term charts is what Scott has a question really about the longer term out here. And so the question right now is, is price going to go ahead and get all the way back to the lows or below the lows of 1985? If we take a look at this again as a quarterly timeframe chart, we'd just be getting a new quarter out here. But if we take a look again at that quarterly timeframe, let me change the, because that's not perigee, let me get a line tool out here. Let's take this line yellow. And so the level to be watching for either a rejection or confirmation at price wants to head lower is this 1.2375 area. You can see how as price came down in October of 2016, that is where price found support. You can take a look at it also in January of 2017 out here. Looks like it was really tested for the most part for that entire nine month period of time because also the quarter of that began in April of 2017 looks like that area was tested. We saw a close just slightly below that area last month. I don't know. So as long as price stays below 1.2375 Scott, it says you've got an increased opportunity or chance to go test the bottom of that at about 1.05. However, and I say however, we did notice it on a monthly basis out here that we've got a brand new profile to consider. So when we come take a look at the monthly charts just looking for some kind of bottoming signal or pattern, I don't have it out here when I take a look at the monthly timeframe chart for the Great British Pound. If I do some wave counts to the downside, no, we're not there. Nothing, when I say not there, we don't have wave number 7 or letter G out here. So here's what you're going to be watching. You're going to be watching Stevie's red line. Let me give you what that value is for the monthly timeframe. As soon as I can figure out how to do that, I know how to do that. Just trying to get it to pull up. That level is 1.2365 1.2365 Any close above that on a monthly basis is supporting the bullish structured monthly profile. Now likewise to the downside. This is a bullish structured profile. So if we see a close on a monthly basis below the bottom of that monthly profile 1.21 1.21, that suggests the larger outcome getting back to that 105 area would be likely because nothing would be more bearish than a failed bullish pattern out here. And we'll call a bullish pattern the bullish profile monthly monthly box out there. Now on a weekly timeframe, just take a look at the weekly timeframe chart out here, we can see that this formed a nice rose momentum indicator bottom pattern. It did so when it created price was moving lower doing less route of energy creates a key reversal bull sash candle we can see that here it's labeled on our charts that was the week of September 6, 2019 prices above Stevie's red line right now that's at 1.2263 and this suggests to us that prices headed to 1.2706 that is where price last broke down that is on a weekly timeframe chart out here. Let me take a look at the daily real quickly and then I'll summarize it for you what I believe the charts are communicating to you and I in this case here we don't see any kind of a bottom pattern out here on the daily timeframe. So there's nothing nothing to you know you ideally like to see some type of bottoming signal on this daily timeframe we don't see that price below Stevie's Greenland this would suggest price could get back to the 1.208 1.205 level those words last breakout area so what are we going to say here I know you're looking for a trade of sorts and you're leaning towards the downside trade inside the Great British Pound and but you're looking for something that was more long term and I don't see that I don't see that right now in order for you to see that I think you need to see these support levels broken on the daily timeframe the breakout levels so let's just call 1.205 out there because otherwise it looks to me like there is more rally left in the Great British Pound then there is then this thing is ready to head south and the weekly and the monthly timeframe charts are really what are providing us with that signal out here so I would say that the better short would be the Great British Pound rallying up to 1.2706 out here Scott that's what I see when I take a look at the charts for the Great British Pound hope that that helps you out now there's other questions that have come in let me just take a quick peek at those out here so one's about Doug I don't mean D-O-U-G I mean Doug which I believe Doug is I think that's for the I think that's for the energy sector out there then one about the GDX and one about the seasonality so let's do this out here Bill Jupiter calling to talk about gold I think we've got to go to our call we've got call ahead seating and Bill you called ahead so now is the time for your seating let's go take a look at how you doing Bill I'm doing well thank you and in the newsletter this morning it was really a great call you talked about a potential short-term bounce for gold to the upside and sure enough it's up about $20 today could you go through the analysis of what you were looking at to give you an indication that that might happen yep so what Bill is referring to so one of the things folks that that I do for subscribers is try to go through various instruments and let them know just kind of like we just did here for Scott take a look at the Great British Pound and just try to hone it in as to what to expect or anticipate and when I sit down in front of a computer system to take a look at what was going on overnight one of the things that I'm always looking at for the futures contracts out here equity or some of the commodity futures I'm always looking for signals bottom or topping signals out here and that's what this little white background area shows so Bill you'll you know that in the newsletter this morning when we were taking like a gold we know that it broke hard we know that it broke and closed below key profile levels weekly profile levels that is but of course it's still Friday so it's kind of early to make that call but what we also knew and it's not showing up right now but I just pulled us up here right now so folks can see that lights we crude as an example gave a bottom signal in a 30 minute and one hour in a two hour time frame so someone would be exploring that as well but we saw those same signals inside of the gold contract so what I didn't want somebody to think Bill was hey you've got this big break inside of gold now's the time to go ahead and go short because that was certainly not the case and the reason was because of those signals that we're showing us bottom worthy patterns out here so now let's go take a look at that bottom worthy pattern right so that was the information box my market analyzer tool to tell us hey go look at gold on the two hour time frame in the 30 minute time frame here is the 30 minute time frame for gold Bill we're going to a heartbreak so just stick with us if you will and we saw the bottom form with a hammer candle out there and then a bullish engulfing candle about an hour later that was at around four and then five this morning we get back from this break we'll finish off taking like a gold short-term long-term any term that you want we'll be right back I'm certain you are or strive to be one of the best of the best at everything you do in life it's the most common trait that we tigers and tigers share if you're looking to become the best of the best when it comes to managing your money let me 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 is transforming into one of the best at what I do sign up for Mastering Probability today by clicking on the newsletter tab on 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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 this segment is brought to you by thinkorswim for more information just click the thinkorswim banner on the front page of tfnn.com welcome back folks it does off about three uh 309 s and p op 34 we're on the line with bill in jupiter florida and we're taking a look at the 30 minute time frame chart for a gold right now and the reason that we're looking at that is because what it generated this morning was a bottom a bottom worthy signal out here and what we mean by that is the way that markets will form bottoms and tops one of the patterns that uh can be present uh is the road's momentum indicator pattern this is when prices moving higher or lower doing a less relative strength and what we wait for always is uh bill we always wait for some type of bullish reversal candle to confirm that pattern and we can see out here exactly at four o'clock we saw a nice little hammer candle uh the hammer in essence was tested in the following half hour and then after that you got a nice little bullish and golfing uh candle out there so what it told you and I was that buyers were stepping in at this stage uh they believed that there was a worthy trade and it was really those three bars price was above steve's uh red line at that stage so that said more at least countertrend rally and as you know bill we said that the countertrend should take us up to 14 79 80 um and we didn't know what price would do so we just got there well uh I think it was with the ISM numbers perhaps at 10 30 uh when they came out the way that gold responded was it's shot up and it closed above 14 79 80 as we take a look at the current pattern out here uh all that we have going is on a 30 minute basis as we have an a to b equal cd if we take a look at that so the question is is the rally over inside of uh gold well the pattern that completed here at 1 p.m. was a gartley sell pattern so you got the a to b equal cd the a point is the bottom of the hammer at 4 o'clock the b point is out here at 7 o'clock this morning then we saw price go ahead and pull back what did it do it pulled back and it tested the bottom of its profile it tested steve's red line which held out there and then it went ahead and zoomed higher now what uh we've see on the 30 minute basis that gold has made 1 to 2 a to b equal cd pattern so you've got the first confirmation of it you've got the bearish engulfing bear sash candle in order to confirm that this is a valid gartley sell pattern when I say valid that that was it that was the top we would need to see a close below support and there's really two levels of support here to be watching again use in 30 minute time frame the first is 14 85 80 and the second is 14 83 70 so we've got the the the potential signal on a 30 minute basis bill of a of a of a top inside of gold and those were the tools that I use to help assist you with understanding what gold would likely do today based upon those signals we also had a td set up nine count pattern on a 60 minute basis and so that was confirming for you and I that that there were two valid bottom patterns that were out here and in the 60 minute time frame we would see the same gartley sell pattern because at the one o'clock hour what we saw was both a bearish engulfing candle confirming the A to B equal see they haven't drawn that in here right now as well as a key reversal session now there's no profiles on the 60 minute time frame for you and I to use so we will default to the 30 minute time frame for gold to tell us what its next intention is a close below 14 93 says the countertrend rally is over a move above 1493 50 says expect 1500 1500.9 and probably 1505 to be tagged and touched out there the other thing that we looked at inside the newsletter bill was we said hey look gold has made the one to one A to B equal CD to the downside and even though price broke below key levels of support if there were a bullish candle at form and right now there's not a bullish daily candle out there just because it's green folks does not mean it's bullish when it's green it tells you where it open and where close the close was higher red just simply where opened and closed out there the candle formation is what's really key no bullish reversal signal yet this just signals to you and I just countertrend rally at this stage so that's what I see the short term the daily time frame and what we want to watch out here is just we've got the topping pattern on the 30 and 60 minute time frame what we now look for is to see if support gets broken wow terrific Steve fantastic thank you very much does that make sense to you any questions oh my goodness no that is mastering probability yes no very good great analysis okay and so the key level that gold closed below yesterday and we always like to see two closes meaning follow through was fourteen eighty nine twenty we're trading right now at fourteen eighty eight eighty so prices sitting right here at a key level because the price gets back inside that box inside the bottom of that profile out there will have to investigate other charts other time frames to try to figure out what the message is but right now as of one thirty five in the afternoon the messages countertrend rally great call Steve very good you know thank you you bet thanks so much for calling that was Bill in Florida up in the Jupiter area so we want to take a look at we got gold out of the way so to speak out there what we want to take a look at is I want to see what questions because there's a number that have come in so let me take a look at the first one here this one coming in from Tom ah we are you digging Doug kindly run through the OUL set up and so forth so let's go take a look at Doug out here let's do what we normally do I'll try to do it a little bit quicker I just simply because I see a number it looks like go here airport out there and I want to be able to get to everybody I also notice there's a problem I've got a data feed issue going on here and that is a gigantic problem that's a gigantic problem I was noticing much movement in the in my indices out here and I don't know what's the cause of that I will tell you that we this neighborhood we took a major power hit last night and I still I wasn't able to track it down thank goodness for generators you know power came back on everything the internet didn't come back on though until early this morning that's why subscribers didn't get my end of day reports last night but that being said and I've been out of the office most of the morning so I don't have anything on Doug right now that's popping up man this is a bummer I think let me try the XLE I think Doug is the XLE is not popping up son of a gun and it's 137 in the afternoon okay so I'm gonna leave Doug out here see if Doug will populate what I do have is my other charts are populated okay so let's go taste take a look at Doug and see what we can figure out here for Tom so Tom here's what we know today is going to be day number eight appears as if it's going to be day number eight of a TD set up nine count we know that a top can form on bars eight nine be tomorrow or on Thursday bar that follows bar number nine I'll just say bar 10 at this stage here so so what so what do we say out here hey there's that would you get into that you could identify or form a potential top on bars eight nine or the bar following nine would either of those any of those I can't say either because there's three would any of those be a bar that you would want to begin a position in just I don't know if you're looking for a position out here but if you were the answer is no well my answer to you would be no of course you wouldn't want to do that prices below resistance 4915 again whenever this pattern forms either above its breakout or below its breakdown this is below its breakdown that can be kind of bearish out here so am I digging Doug no hey we've got about 10 seconds what the weekly chart do weekly chart is running right up into Stevie's red line out here which is at 4416 Steve Rhodes with TF2N we'll be right back to 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 2018 set up tax free zones across the country where you can build and hold for 10 years and pay no tax on the profits which makes these lots valuable the investment is anywhere from 30,000 to 75,000 the interest paid is 7% yearly paid on a monthly basis according to bankrate.com the best rate for a four year CD in the country as of February 20th is 3.1% a $50,000 investment at a normal four year CD rate of 3.1% would give you income of $1,550 per year or $6,200 over the four year period that same $50,000 investment in the Tiger First Mortgage Program would give you $3,500 per year or $14,000 over the four years what should you prefer $6,200 or $14,000 of interest on your investment if you would like more information about the Tiger First Mortgage Program you can call me at 877-518-9190 that's 877-518-9190 if you haven't checked out the newsletters page of TFNN.com what are you waiting for all of the TFNN newsletters are informative, up to date affordable and a must have for every trader looking to gain a competitive informational edge in today's markets TFNN newsletters cover every aspect of the markets to offer you the very latest in market news plus new subscribers get to test drive our newsletters every three for 30 days from all aspects of the markets including stocks, bonds, metals commodities and tech there's a newsletter to fit your needs exclusively from TFNN stay informed each day you trade and get that competitive edge that will help you stay ahead of the game visit our newsletters page by going to TFNN.com and click the newsletters button near the top of the page TFNN.com and click the new tab call us today to bring in investors biotech is booming but for how long whether you think the biotech bull has room to run or has run its course trade LABU or LABD Directions Daily S&P Biotech three times bull and bear ETFs visit directioninvestments.com slash biotech Prospectus and Summary Prospectus contain this and other information about Direction Shares. To obtain a Prospectus or Summary Prospectus, please contact Direction Shares at 866-476-7523. 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. Don't forget, you can listen to TFNN live on your mobile device 24 hours per day. Go to TFNN.com and hit watch Tiger TV. That's TFNN.com and hit watch Tiger TV for the latest market information. The last thing on Doug because Tom was talking about the long term time frames out here and whether that was of any value on this specific instrument and the answer is yes. The patterns that I like to use out here, they're agnostic as to what the instrument is. It's just simply chart patterns out here and for all the different time frames. Bill and I were taking a look at the 30 minute and 60 minute time frame for gold this morning. Here we're looking at a monthly time frame for the sepna. Here we're taking a look at Doug right now and this was moving lower as a road momentum indicator bottom. This is in October of 2018, nice big old bullish engulfing candle confirming that pattern out here. What it also did for you Tom is it set up where your key level of resistance is which was where price had broken down and that was at 51.47. We've seen that area tested several times on a monthly basis and each time by the end of the month price had failed to close over that level. So that's real key area 51.47 or 45.14 out here. Looks like it wants to run higher. Very difficult for me to suggest to you to go ahead and take a trade in that knowing that you're close to resistance and you are in bar number eight on the daily time frame out there. So I hope that that helps you out. As you can see my my e-signal screen that's a black background screen is pretty much stationary stationary stationary right now. Actually my other charts are working OK. So this question is a seasonal low in November. Still a possible target that seasonal low is typically October. I would say that I don't have any reason to think that it's not. But the market conditions that were in a really more of a consolidation than they are anything else. No I got rid of my yellow. I can put them back in here. But let's just take the E.S. mini as an example. Peter was asking for the E.S. mini and no Peter on the day or the 30 minute E.S. mini a TD set up eight count out there. OK. But if I take a look at the daily time frame chart out here on maybe this will let's at least let me put those in here. If we take a look at there's the consolidation there was the consolidation. We had the break of the consolidation the break of the consolidation gave us a price target up here of the 30 78 area. If we take a look at what the E.S. mini is doing right now it's coming back and testing the top that consolidation is that that a couple of days ago on the 27th it's doing it right now. And look if price closes inside this consolidation that's the that's the first box out here. So let me go ahead and get rid of the second rectangle. But you can sort of see it out there. If price does close back inside there well then you can move all the way back down to the bottom. The bottom being in the 2800 area we'll call it 2813. But right now what the E.S. mini is doing. We're taking a look at the December contract out here. It's just simply testing support and support is the bottom of that weekly profile. That's 2940. We're trading right now 2940 50 out here. So we can see the prices pulled back in the E.S. mini to support. So we're just in this consolidation oriented market out here. And so I take that back to the seasonality piece the seasonality. Let's just take a look at the fact that from a seasonal basis we typically see a high in the end of July. So if you look at the E.S. mini the high out here is the week of July 26. No the week of the day of July 26 was the intercession high. Now look I don't make these dates up. Let's do this here. Let me call up if you give me a moment to pull up a old PowerPoint presentation and I keep some of these slides somewhat handy. We should be able to I should be able to get us right to the seasonal timeframe. So that way somebody who's not familiar with it will be able to oh geez what the heck was that doing. Thanks. OK remind me not to save this file based upon the last thing that I just did. Give me a second to get down there and find the seasonal chart. It's got to be here we go. So let's see view slideshow from current slide. Here we go. So here's our seasonality. So if we take a look at the unfavorable seasonal cycle if I were to ask you to take a look at this the average over the last 80 some odd years out here July 21st is typically the seasonal high which then leads down to a low October 13th. Now you had mentioned earlier you had mentioned November so it's really on average for the Dow it's October 13th out here and the actual high not July 21st but it was in the E.S. mini was July 26th out there. So yeah how can I say that it's not in play. It's still in play but I think the pattern that's more important to you right now with regard to the markets are what's the E.S. mini do as it gets down to the support of its weekly profile and what to do as it's really testing the breakout of the consolidation pattern out here. And so that's what that's what I'm that's what I'm you know looking at if you take a look at the E.S. mini just simply because I mentioned it because Peter had mentioned it right now we are in bar number eight of a potential bar number of a TD set up nine count bottom out there. So certainly something to be paying attention to knowing that you're coming back to support and you've got a potential bottom worthy pattern that is setting up out there. So that's certainly something to take a look at. So I hope that that helps you out or with regard to your question L.B. writes and Lee writes in and he says is it time to jump back into GDX. So Lee I have to say the answer to that is no. And I reason I have to say the answer to that is no is because we don't have a confirmed bullish reversal candle on the daily timeframe chart out here. And even though it's made a one to one A to B equal CD do not let anybody fool you or somehow talk you into buying the one to one level of an A to B equal CD or selling the one to one level of an A to B equal CD. If you're going to do that OK buyer beware caveat M tour I guess seller beware you're better off waiting to see some type of bullish reversal signal because my studies show that if you don't get that bullish reversal signal and the markets want to simply continue in the direction that they were going in this case here in the case of gold where it's going to is 14 12. That's the daily timeframe. The weekly timeframe generated a mucho grande. I think that is eventually going to be a mucho grande is already a a Starbucks copy. Isn't it. I don't know. I don't drink it. But if we look at the gold on the weekly basis out here cheese do let me see what happens when I try to punch this in here how quickly this will come up. Hey not too shabby out here. You know so I'll pull over the daily so Lee we know you and I know directionally speaking gold and the miners are going to move in the same direction. So you've got gold yesterday on a daily basis closed below 1490 70 1490 70 was its breakout level. What has it done today. So far as of 149 it's simply retested an area that was support which now may be resistance and that gets us to the 14 12 level for gold. If we take a look at the weekly timeframe chart and we really need to know I need to know you need to know it's only Tuesday. What does the candle look like on Friday. But what we now have is we've got the rose momentum indicator top on a weekly basis. That was the bearish engulfing candle from last week. Now we have follow through to the downside out here. And this says over the long haul where gold is headed to is 1286 buckaroonies. Buckaroonies. We'll take it one step at a time. Is now the time to get into GDX. No Steve Rhodes with TFNN will be right back. 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That's right Paige, they ensure we receive all the nutrition we need to be healthy and thrive. We take it every morning. Primal edge, formulated and approved by Nico and Paige of living a primal lifestyle. Buy it today for just $89. Click on the primal edge banner on the front page of TFNN.com. This is David White. Stay tuned because coming up next is the power trading hour right here on TFNN. Folks, the two minute wrap and we're going to wrap it up with Michael. Michael, thanks for calling. Thanks for holding. How are you? Do we have Michael? Do we have Michael? Okay. Some reason we must not have Michael, but he was dropped. Okay. But Michael was calling about, calling about ticker symbol SCHW. I wish I could tell you what it is. I can't. And I don't know what Michael was calling for, but it doesn't matter. We can just simply go take a look at the chart, see what its message is for us. So here's what we know with regard to ticker symbol SCHW. Back here, July 25th forms a TD set up nine count top. It does it on the bar following bar number nine, SCHWAB. Thank you very much, John. And goes ahead and makes a bottom with a road momentum indicator bottom. There's your bullish piercing candle on August 28th. Price bounces right up to resistance. Resistance was the 43-49 level. It actually got just slightly above that and went to resistance number two. Let me see what that price point was, 4404. Both of those established by the TD set up nine counts to the downside. It gets up to the resistance level, creates that little doji candle, a true doji candle where the open and close are virtually the same out there. That doji candles are really helpful candles at resistance. A doji candle, when the market opens and closes at about the same price, it tells you about what? Indecision. Indecision. That's why when price is getting up towards resistance, indecision, uncertainty. Not sure if it's going to be able to make it and take it on being resistance out here. I believe the doji candles, most important aspect, your unique attribute to it is when it's up at resistance. And this is what it was. And since then, it has backed down and is pulling right into breakout support of 3706 with a wide-ranging bar out there. I don't know if that's going to hold likely not out here, but prices sitting at support right now as of 1.56 in the afternoon. Folks, thanks so much for being here. Sorry we couldn't get to all the questions. We'll do a better job of that tomorrow. Hopefully, the system will be operating better as well. But stay tuned. Our favorite polar bear is up next, even if we are having global warming. Really? Hey, have a great Tuesday, folks.