 The following is a presentation of TFNN. 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 from TFNN. Welcome to the June 10th, the magical Monday edition of today's Traders 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 day. And 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 circumstances 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 the bears, what the buyers and the sellers are communicating to you and I just passed one o'clock in the afternoon. I want you to know that I am absolutely grateful for your presence here. But more importantly, during this next hour, I'm here to serve you. So feel free to pick up that phone. You can dial in it. We'd love to hear from you 877-927-6648. If you can't dial in, we've got you covered. Let those fingers do the walking. Anyone can send me an email, Steve, at tfnn.com. Inside the subject heading, please put radio show question, of course, in the Tiger's Den. Well, any ping will do. So let's go ahead and get this show started on magical, marvelous, magnificent Monday. Of course, this is Tiger, Financial News Network. I'm Steve Rhodes. Welcome to less show right now. The dial up 140 points, 26-124 is a print. That's about a half a percent to the upside. The S&P up 8 tenths of a percent, 23 points. The NASDAQ 100 up 1 and 6 tenths percent. That is 121 points. The Russell up about a full percentage point, 14. Semi is up 3 percent. That's 42 points. So everything looks beautiful with the exception that spot volatility index. That's down 12 pennies trade-out at 16-18. But it is above the 50-day exponential moving average. And we've got gold off 15 bucks silver down 38 cents. That's two and a half percent to the downside. But we're going to begin the show by going out to Palm Harbor and speaking with Jim. Jim, thanks for calling. Thanks for holding. How are you today? I'm doing good, Steve. How are you? I'm doing very well. Thanks so much for asking. And folks, the symbol that we're going to be checking out is AMK or K-A-M-K-R. In case you want to put a populate your screen from your chart standpoint so you can follow along with Jim and I. And that's an AMCOR technology. And Jim, what are you doing and how can I help you? I'm just looking for a short-term trade, a state trade or a swing trade. And it looked like this one was at a good spot, although the volume's a little light. Okay. And you've been watching this equity for a while? No, I just found it on a stock screener a little while ago. Got it. Okay. Well, look, here's what we can say about this equity today. Even though the volume is a tad light, so far 484,000 shares, what it's doing, Jim, as I'm sure that you've identified, it's trading right into an area where this had gapped down. That's the resistance point. I don't know why it says what it does. And then we get rid of that perigee number out there. Let's change that line. We'll just go ahead and make it yellow. That'll be easier out here. And so this equity today, 745 is what it's trading into. Now, when it gapped to the downside, it was 1.6 million shares. So I wouldn't touch this if it doesn't close above 745. The positive of what it did today was it closed over the top of its daily profile at 712, a very narrow profile there. So I don't get too excited with narrow banded profiles of support and resistance. But nonetheless, it did close above one resistance level, trading into the next, which is 745. Now, I would say, Jim, that if it closed above 745, even on light volume, what a price should do is seek out the top of its weekly profile. And that is 774. At 761, there may be some resistance, which happens to be Stevie's red line on a weekly timeframe. And at 764, or 774 was coming from the top of the weekly profile. So resistance, the next level above 745, 761 to 774, I don't know how it's going to handle those levels out there. I don't have a terrific buy signal from a bottom standpoint as it was making the low back on May 30th. So I don't have really anything there to hang our hat on from a daily standpoint, a weekly standpoint, a monthly standpoint. And so I guess if you were going to buy this on a pullback, then what you would do is I'd wait for it to come back, probably to Stevie's red line number on the daily timeframe, Jim. That's 672, or 696 would be the bottom of that daily profile. That I'm not really that enthused about because it's such a narrow band. 696 to 712. You know what I mean? It's so thin with regard to where buyers and sellers were. It's almost confusing to me. Yeah. That's what was confusing to me too. I just felt like overall it looked like it had potential, but I'm a little scared of it. So I didn't do anything. Yeah. Look, I have that same fear that you have with this equity while it's hitting these different resistance levels. And I just think that the reward risk just isn't in it for you, knowing that these resistance levels could in fact contain price. So now is definitely not the time. And if you really are interested, then wait for this thing to pull back and make sure that it does it with light volume. And then you're okay. Yeah. Okay. I really appreciate you, Steve. I watch you every day that I can and just about every day. No problem. Thanks for that. And I wish I could. I wish I could give you like an exact spot to enter on this, but I just can't. I just don't have it right now. I don't see it. Right. Yeah. Well, you're just confirming kind of what I was thinking. So I appreciate it. Perfect. Okay. Hey, thanks for calling. Have a great day. That was Jim in Palm Harbor. And so no one else on the line. Let's do this earlier today inside the Tiger's Den. I threw out a couple of figures. I always like to let folks know where those are coming from so that you know that they're not pulled out of the arse, so to speak. And this was with regard to the NQ. And I was suggesting that today, the NQ's chart is really important for us to watch out here. And this is a very simple tool that you use that I use. Well, we know the NQ when it formed the bottom. It did it with this TD setup nine count. We also know when it did the high, when it made the high back here, it did it with the same pattern that is out there. Now the beauty of those patterns, and right now I'm just showing resistance. I'm only interested in resistance. And if you happen to be listening in right now, 75, 59 and a quarter, that came from the top or the high of that TD setup nine count that created the resistance level. If price is able to close above 75, 59, 25, I cannot advise somebody to be short. If you're short because prices hit resistance, I get it. I see it. And we can put together a couple of other tools to say, okay, I get that trade. But if price closes over 75, 59, 25 out there, the breakdown, that's what that green line represents. That is the breakdown area. This is where sellers should be residing. And if you get a close over that, it's saying the sellers ain't there. And if the sellers ain't there, buyer, but actually sellers, beware, we'll be right back. The Taz Profile Scanner is the most revolutionary piece of trading software that you will ever try. Wouldn't you like to approach the markets with confidence? As you begin your trading day, it's likely that you'll be faced with lots of decisions. In order to make the best decision, the first thing you'll need is a strategy that will help you minimize your risks. Whether we're in a bull or bear market, a good strategy is to have the tools needed to help you scan and analyze the markets before you trade. The Taz Profile Scanner instantly scans and filters over 2,500 global financial markets, such as stocks, ETFs, commodity futures, and forex. 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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. Yeah, folks, so let's just kind of, let's spend a little time on the NQ here. So let's look at the 30-minute time frame, because the other Equity Futures contracts are doing, in essence, about the same. And so we can see that price was moving higher and more or less relative energy. Those are the black diagonal lines that get drawn on my screen out here. We can see that you did have that bearish engulfing candle form that confirms this pattern. That took place right at $1230, but what price hasn't done will shoot. It's just testing Stevie's green line out here. So that would be what we'll call is a bearish structured box. So any close above $75.66 would be very bullish, nothing more bullish than a bailed bearish pattern. That's what's out here. But really what sellers ought to be able to do is push the NQ down to $74.92, which is the bottom of that profile. Then if they can't do that, well, a huge message that is being delivered to each of us out there. So you've got a short-term topping pattern, and so we'll watch to see what sellers can do. They should be able to, in the NQ's case, they should be able to muster up enough to get a decline down to $74.92. A lot of people will say, oh, that's the top. No, that's nothing more than a short-term topping pattern pushing price down to support out there. So that's one of the things that we want to pay attention to. And I provided you with this number. That was that, well, it was on a different chart, $75.59 and a quarter. That's a resistance level. That's where the breakdown began inside and it's not any place else out there. However, if we take a look at where price is trading in the NQ this week, right now it's trading above its weekly green line. It didn't close above it on Friday. The ES mini did. We'll take a quick peek at that. But that's level of $7,508 and some change right now. But if price closes above that this week, it's telling us that it can go back all the way to the highs. In fact, it should then make a new all-time high. We'll get to that fourth wave count to the upside out there. But you got to take things one step at a time. But right now trading above that weekly green line is a bullish indication. So you've got everything that you need to be watching, to be, to be, to summarize this properly out here because we've looked at a couple of different timeframes. The 30 minute, the short-term timeframe says sellers ought to be able to take charge of the NQ and push price down to $74.92. If price were to close below $74.92, then you're looking at a rundown to the breakout level inside the NQ on a 30 minute timeframe. And that level is $74.4150. And if they're unable to do that, it is a gigantic, did I say gigantic, gargantuan message to both you and I. Now the ES is slightly different. If we take a look at the weekly timeframe chart here for the ES on Friday, price closed above Stevie's green line. That is moi bueno for being long the ES mini. $28.72 is the number that price needs to stay above to say that it wants to continue to move higher. So when you pull back to test that level and bounce off of that, it would be very bullish. Now the ES mini has a resistance level like the NQ. I didn't use that because that level is up much further. It's up at $29.38. We're only at $28.97. So that is not being tested. But there's not a gosh darned thing inside the daily timeframe here for the ES. When we take a look at this version of the chart to suggest that price is not going to go up and tag that level. With the exception being that the ES mini has run into that resistance level established by its horizontal trading ranges in the 2906 area. So 2906 is really a key level for the ES mini out there. Oops, didn't mean to do that. Inside the Dow, the Dow equity futures contract closed above on a weekly basis, Stevie's green line. That's at $26.023 prices trading above that. The weekly information is telling us that this wants to continue to move higher. Perhaps put in a new all-time high. We really need to see failures. Now inside the Dow equity futures contract, you and I, because of using that TD setup nine-count system, as we mentioned earlier, price has pulled back to its first level of support. So let's continue to watch that. In other words, you got the topping signal. Whenever you get a topping pattern, what you do for that timeframe is say, okay, where's support? You stay with that timeframe. Where's support? That's what we're doing here in the 30-minute basis. And so price has pulled back, tested support has rejected support and is starting to move just a tad higher. So we know what to be looking for. And we're just trying to make this as simple, as simple as we can out here. So let's go to our next question that came in, because we can always go surf around, take a look at the indices and multiple timeframes to figure out what's going on. But if you spend time to write in, we are going to answer your question. And this question here coming from Sat P. And that is, can we take a look at AMOT and suggest if I can buy a few shares of it right now? AMOT is Allied Motion Technology. And what we want to do here is see if we can find a bottom. We can see that it made a low several days ago on the trading session of May 31st. But the question is, was that a bottom? We know it was a market bottom out there, is this a bottom inside of Allied Motion Technologies? Here's what we know. Price is trading with inside its daily profiles. It is below the weekly profile and it's trading with inside the monthly profile. So let's go to the daily timeframe chart out here and see if we can spot a bottoming pattern. And the answer is, well, let's do a wave count. Let's start doing our wave count and see what we can get to down there. Well, lo and behold, the answer is we can spot a bottom. It gets down to wave number seven. That is letter number G and it does that. It looks like on the 31st. I don't know why my date is off by a day here, says June 1st, but we know that wasn't the case because I just looked at that candle and that was May 31st. I don't know what the deal with the calibration is that's going on here. So yeah, we do see a bottom. It's not picking up today's action out here or is it? No, it's not. I just have too many things going on in the background. Sorry about that project that I'm working on. But yeah, so I spot a bottom. If you're asking, can you buy here? The aspect here is we've got to figure out reward risk. So let's say you enter 34, 35. Where's the next level of resistance out here? The level of resistance that I would be concerned about, the next level is going to be 35, 19. So 35, 19, and the average true range on this is a buck. I don't see it out here. I'm not saying that it might not take that level out, but the reward risk just... I'm looking at the weekly chart, of course, and that's the resistance, that little red line. And then you got 34, 95, the bottom of that profile. Look, that letter G, that's important. That is important. And so you're just saying a few shares. So as an experiment, go for it. Let's say it can clear Stevie's red line on the weekly basis. Then your next target to the upside is going to be 38, 62. So if that works for you, reward risk and so forth, and it's just a small position to try and start, then go right ahead and know that you did that. Courtesy of one of Basil Chapman's tools, and that is the wave count, and we like how the market sings in the key of G and never ceases to amaze me when we see that pattern show up. That's letters G or wave number seven. How it identifies tops and bottoms. That's a beautiful thing. Let's say thank you, Sarah Toga Bob and Mr. Z and the Den for really tracking that, pointing that out and then being so kind to share that with me and now with you. That was up 136 S&P 22. 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 for the S&P 500 for the last 12, 6 and 3 months. Timer Digest also ranks me as the number one market timer for gold as well. The fact is, markets can be timed and I'll teach you the exact set of tools that I use that has transformed me into one of the best at what I do. Sign up for Mastering Probability today by clicking on the newsletter tab on the homepage of TFNN.com and get immediate access to workshops where I take you step by step how to use an extraordinary set of tools as well as provide great market calls too. Sign up today. To date with all pertinent market information with intraday afternoon updates when warranted. Don't miss out on this great chance to get a 30-day free trial to David's daily newsletter, The Path of Lease Resistance, with no obligation to pay anything. David has been delivering solid recommendations for his subscribers recently and if you'd like to see the type of newsletter he delivers every morning, then visit the front page of TFNN and you'll find The Path of Lease Resistance under Trading Newsletters. For all the details and to start your 30-day free trial today, log on to TFNN.com now. TFNN is excited about our new software charting program, The Art of Timing the Trade Charts. In collaboration with Tom O'Brien and using his best-selling book, The Art of Timing the Trade, your ultimate trading mastery system, David White has programmed an outstanding piece of software that will complement any trader's methodology. Using this first-of-its-kind program, The Art of Timing the Trade Charts allows you to scan thousands of stocks for Fibonacci formation setups, including guardleafs, ABCs, butterflies, and much more. The Art of Timing the Trade Charts is designed to help you when scouring the markets for stocks just beginning to form the trading patterns that many investors spend days, weeks, or even months searching to find. And right now, 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, folks. So Max writes in, and Max wants to buy some way out of the money he puts on Beyond Meat. The next symbol there is BYND. And so here's, we have very limited data, Max. But here's what I, here's what we do see at the moment. I wouldn't enter that trade until I saw at least some type of reversal top out here. Now, you may get it. We can see that price has been moving higher doing less relative energy and I'd wait for some type of bearish reversal candle to form. Maybe it's tomorrow. Maybe it's next day. If it makes a new high, we'd have to see if this pattern has extended itself. I don't have any other pattern out here on a daily timeframe to suggest. Now, I know you're way out. You're going into January 2021. But still, for that trade to work, you'd like to see some signal that sellers, you know, have given you some type of sign that they're ready to begin the process of pushing price lower out here. And you can't say that just because it traded up to 186 and it's trading at 167, that that's the sign that sellers are present. We don't have any profiles to use. Just not enough trading data that is out here. And I just don't have any other pattern identification max to say, you know, and you're looking for 35 to 45. So you're looking for price perhaps to get back below the IPO, which is a very, very possible and plausible out here. That's typically what happens when sellers eventually get in control. Over time, we'll be able to push price back below the IPO level. But let's not go there even though I think you've gone there. Taking this out to 2021, I would at least have to wait to see some type of topping pattern out here. And I just don't have that as we speak right now. So he asked me to look at it, which I did and and so that's my suggestion at this stage of the game out there. Let's go to the next question that came in this from Robert. Robert says, could we look at CARB? C-A-R-B is the ticker symbol. So let's go take a look at that. Sounds familiar. I just recall looking at this. Carbo ceramics maybe C-A-R-B? Carbo, no, carbonite. Okay. So I think that's a software software, software security software security type package. All right. So your question is, could you look at CARB? Taz profiles, you're looking for an entry point. Okay. So this is trading below. This is trading below. It's daily. It's trading right on the weekly profile. The bottom of the box you're asking about. That's 22.63. You're 22.83. So the question is, you know, is that really a bottom? Now price in March on a weekly base it was moving lower with about 4.9 million shares and last week 1.6 million shares and never tested that bottom. But okay, price has dried up. So that's good. For some reason now my system has gone to crap. Oh man. No, it was just with regard to CARB. So for some reason my system is not letting me pull up CARB on the other side. So I'm going to go with Robert, which is a real bummer because I can't because what I'm trying to determine is whether or not there was some type of bottom pattern out here. So here's what we've got to go with. Robert, let's just take a look at what's really going on inside this equity. And take a look at, you know, the in essence consolidation pattern that it's trading within. And we're just simply going to label it from 22.35 to 28.60. I'm probably being pretty generous on the 28.60 because really the so-called consolidation, really 26.36. So there's your, you've got average true range of 76 cents as your stop needs to be 76 cents times some multiplication factor, which I would say would be 1.27, 1.618. And then that's where your stop would be and your target's going to be about 26.36 give or take. So let's take a long trade. And now is the time. You just got to be very careful, especially because I wasn't able to go back and try to identify if there was some type of bottoming pattern, a TD nine counter, something else out there. So best of luck with that trade. Let's take a look at Eddie. Eddie writes in says, hey, Steve, can you do some analysis on Baba, Ali Baba, B-A-B-A folks is the ticker symbol. So we're going to pull that up on both sets of screens out here. It's been in the doghouse says Eddie and but lately looks like it's breaking out. Do you trust the breakout and do you think the stock is still vulnerable to us trying to trade war news? Well, that I don't know if it's vulnerable to I suppose it is vulnerable, although how much, how often would ask this question, Eddie, how often are you logging into Ali Baba versus Amazon? I would ask in the den, how many of you are logging into Ali Baba versus Amazon? You know, so if the majority of their business is really coming from Asia, do they're now, well, this could this be affected because of the stock market itself in general in the stock market moving lower in whether it's a Shanghai or the Hank saying, sure, but with regard to the trade aspect, I don't know, oh man. So I do have some problems, some issue with my system I'm not able to pull up those other charts that's a real bummer, especially with 24 minutes left in the show that is a real, real bummer. Why is that every now and then that happens and that's just life you just got to move motor on. So here here's the deal. Eddie, do I trust the breakout? I don't really see a breakout per se I see price moving off off of a low out here. I don't know if it's a bottom that was the May 31st level today it's above the daily profile at 1.5743 this has some gaps I don't know in this case here in Ali Baba whether the gaps are currency related you know, and so I'm a little bit untrustworthy of the gaps out there so you asked me about, you know, what I trust or, you know, what's vulnerable I think for me to tell you that that these gaps off resistance maybe that's not the greatest thing we're below the weekly profile trading right into the monthly so I come back to your question and I really am sorry that I'm hamstrung I'm using my other tools because the other tools are just ideal for being able to identify bottoms tops and other levels and I can't get it going in between during the show I've got to shut too many things down and that's not going to happen so I don't see it as a breakout a breakout I would see wide price spread accelerated volume breakout I'd see some type of TD set up nine count the upside I know we don't have that I can just look at this and say I know we don't have that in here as we speak so so how do I try to how do I better answer your question one I don't think it's vulnerable to us China tariffs second it's not a breakout that I see but I do see a break in above resistance and so if you want to take a trade you know go for it your stop your average range on this equity is four ninety four your stop needs to be four ninety four times one point six one eight I would say that's your stop size on that and all that does is just determine how many shares that you would purchase of Ali Baba that was for Eddie and hope that helps out you know check back with me tomorrow as well hopefully I'll have the other tools working so that there's no issue so we get back from this break we've answered all the questions out there with a lack of tools so to speak let's go take a look at Goldilocks try to figure out where she is pulling back to right now down sixteen bucks trading at thirteen thirty 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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 welcome back folks down's up 142 S&P 22 so it's a Goldilocks pulling back a 16 buck of runes out here so let's go take a look at where price is likely to pull back to so let's do this here let's put up the gold contract and there is a new set of profiles let me go ahead and get those on the chart out here now they won't show up there I've got to use my so this is a this is using my advanced my advanced Doppler system out here and it just tells me that new profiles are attempting to form and I want to show the weekly we get rid of the weekly here's the daily out here so as we take a look at gold what we can see here is that that prices trading just about its point of control this is a bullish structured box because that point of control at 13 30 is closer to the bottom at 13 20 13 23 versus the top at 13 45 here if I turn price up you'll you'll better visually see that see how the centerline is much closer to the bottom than the top out there so it's bullish in structure so what that means that what's going on right now unless gold closes unless gold closes 13 23 30 then the bullish trend remains intact and that's where someone might look to enter or to add two positions out here but as we speak right now it does appear that gold is going to pull back to that 13 23 level or that becomes a price target another price target that's out here is 13 17 so you got to give that 13 23 level just a tad bit of room out there why because we've got to pay attention to Stevie's green line which is presently priced at 13 17 and so that too could be an area of support now on this daily time frame chart you and I had been looking at a possible topping pattern I was warning out there once that TD set up nine count confirmed with the shooting star candle out here that was on this trading day which I believe is going to be the fifth or the fourth out there just because my system seems to be calibrated at the dates at the bottom but you'll see that shooting star candle now that was resistance that was previously established by the swing points back in February so that other resistance level but the significant topping pattern the nine count didn't ever come to fruition out there so what's that mean it means to expect to further retracement inside of gold however it is sitting at that point of control so that is a really key level let's bring that up again and 13 30 70 so I could be wrong 13 30 70 could be the extent of the pullback retracement now that's the case and what we're going to see is some type of bottoming signal on a 30 minute time frame so if I just come over and I take a look at gold on a 30 minute time frame we just take a look at its counts out here and support well I don't have it you can see right now maybe we're making a TD set up nine count on a 30 minute basis but we're at least so to that would give me till 3 30 we're at least 3 30 before we could even make that call so I'm unwilling to make that call out here because I just don't have the data to suggest that let me look at the 60 minute time frame chart well we're going to do it together just looking to see you know what else is out here to assist us prices pulled back and tested 1329 level 1329 happens to be the bottom of its 60 minute this did the 30 minute time frame did in fact identify the top out here did it with two different patterns there with the rose momentum indicator top it did it with the TD set up nine count so you know what I would think seeing that prices made it to wave number six letter f on my screen out here just seems like you should see another push lower inside of gold maybe get down to that seventh wave out there so yeah unwilling to call the bottom out here inside of gold but recognize that prices at a level of support as we speak right now but the better level of support would be 1317 the 1323 that's what I see when I take a look at Goldilocks what about silver silver put in a new profile attempting to form a new by the way that new profile may not come to fruition out here as I mentioned or if I didn't mention which I didn't mention I'm using my advanced system so the advanced system out here is trying to spot changes before they actually and or completely form out here we've got the same type of setup we take a look at silver I'm going to get rid of price just easier for you to see out here and this is a bearish structured box that the the gold contract was a bullish structured box so the bottom of the box almost hard to make out is at 1450 1450 so bearish in structure let's put price back up here and prices trading well below the center line whereas gold was not so silver we would say is headed back to 1450 1450 is the number and if price is moving into the swing point from May 28th and it's doing it with volume well maybe that is not even a whole price when it comes to high whole silver so that's what's going on there if you're wondering about the GDX we take a look at the GDX get a feel where support might be here I wish I could tell you wish I could tell you because I really think we need to go see where Stevie's green line is at unless I have the GDX up somewhere which I don't but what I do have is the XAU so let's do that let me switch over to my XAU chart because I do have that and so there we can identify we can identify exactly where price could or should find support so inside the XAU what we're looking for and disregard right now disregard the eight count that was generated on Friday to set up a topping signal because prices that pattern is going to go away today or it looks like it's going to go away today because price is trading below bar number five the close of bar number five but that doesn't mean that price is not going to continue to pull back it looks like it is and it looks like price will pull back to about 70 58 so in the XAU I'd be watching for 70 58 see if price pulls back there that could then be in this your entry point into the mining equities out there but that's what I see when I take a look at that we won't want to use the daily profile we could 21 30 so that is certainly a target on the way to the downside now so far today relatively like 16 million shares have already traded going again 75 million from back on what looks like June 3rd out here so that's nice but that doesn't mean that price is not going to continue to pull back it's just lining up with what's going on when we take a look at the gold contract out there so that's what we see going on and taking a look at the precious metals along with the mining sector out there okay so we got about a minute out here what do we want to take a look at what what else do we want to take a look at out here I don't have any clue as to what it is you might ask the question when do I think the markets might make their next top out here and my answer to that would be well unless we get some other signal which I don't see just yet I'm looking for we mentioned this on Friday I'm looking for the advanced decline oscillator reading inside the New York Stock Exchange to get up to the plus 150 level you're at 104.71 as we speak right now so I'm watching for that if it gets up to plus 150 and at the same time it's doing that the spot volatility next is trading above it's 50 day expansion moving averages it is right now 16 20 versus 15 92 that could be setting up the next short term top inside the markets still as we speak no levels of support have failed out there see Roger TFNN be right back Basil Chapman has a special subscriber webinar coming up Wednesday June 12th at 5 p.m. called the tide in this webinar Basil will be demonstrating techniques that can help one identify whether the tide is coming in or going out that is whether a trend is bullish or bearish in a variety of timeframes and Basil will be speaking specifically to indices currencies commodities interest rates and key stocks the technical tools that Basil will be discussing are available on almost all software packages that will be shown in historical context as well as live for current market setups identifying the key trend allows one to trade with the tide rather than against it subscribers also gain immediate access to three archived workshops so you can get started right away to sign up for all the details on the opening call and Basil's upcoming subscriber webinar the tide this coming Wednesday visit the front page of TFNN.com and sign up today it's amazing to think that Tom O'Brien started his weekly gold report 17 years ago with the first issue published April 7th 2002 when gold was trading at under $300 per ounce gold peaked at more than $1900 in 2011 and after spending many years consolidating at lower prices gold may be poised for its next big run Tom O'Brien publishes his weekly gold report every Monday morning for subscribers consisting of coverage of the XAU HUI GDX the dollar bonds South African Rand as well as 25 different mining equities with specific buy sell recommendations as of April 1st of this year the gold report currently has eight active positions with an average unrealized profit of almost 8% open trade new subscribers get a 30 day money back guarantee so you have nothing to risk for all the details and to start your gold report subscription today visit the front page of TFNN.com don't let gold's next big run pass you by sign up today you know what's cool taking something that's good for you something specifically formulated to help with weight loss better sleep stress reduction and the need to detox Niko our hunter and gatherer for health in their wild environment but today our food sources no longer contain the vitamins minerals and nutrients our bodies need to stay healthy and strong that's why we need primal edge daily nutrition it includes a special blend of ionic soil based vitamins minerals fatty and amino acids in an easy to use liquid form primal edge is powered by highly concentrated folic and humic acids nature's preferred delivery system they've been called miracle molecules because like sunlight air and water life cannot that's right page they ensure we receive all the nutrition we need to be healthy and thrive we take it every morning primal edge formulated and approved by Niko and page 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 welcome back folks the Dow up 123 S&P is 19 Tucker you know what oil is doing here it's dealing with resistance Stevie's red line out there 54.82 we can see how it stays high in essence has tagged that number and so that's really a key level out here with regard to a light sweet crude if you take a look at but no levels of support have been broken from an interday time period here's a 30 minute chart here you can see just simply move sideways so price got up to resistance it's now kind of backing off we don't know if it's going to just back off to generate some energy to try to take out that resistance but it's really right at a resistance level is the way that I see what light sweet crude is doing we had a question that came in we got two really and so let's go take a look at those the first one coming in from Michael H and Michael once take a look at the ticker symbol you you you and I'm referring to you and that is energy fuels ink and the question is is it okay to go along on a pullback it is I don't have a Stevie's red line because as I mentioned I've got a little corruption going on that I've got to take care of a crop file that I've got to take care of can't do it live during the show but yeah this thing here looks like it's targeting 334 right now 334 is the top of the weekly profile bullish structured profile so buyers should be able to push price up there at this stage a pullback as Stevie's red line would be one good level so it sounds like Mike you've got that number in lieu of that you'd be looking at a pullback to hold resistance to 75 the last question coming in from John the den asking about palladium is palladium setting up to form another lower high the answer we have to go with at this stage is yes unless we see palladium trade above the top of its weekly profile 1377 70 you're 1375 right now so prices traded up into resistance and then if it closes above that well it might want to go target the recent high from on April the 29th hey folks thanks much for being here make sure you have a magnificent Monday a marvelous Monday and stay tuned because David whites up next Tom will Brian three to five I'll be back with you on terrific Tuesday take care