 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 17th, the magical Monday edition of today's Traders Edge show. I'm your host, D.B. 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. How about we have an extraordinary day? The easy way to have an extraordinary day is to always remember that life is happening for us. Not to us. That's right. We knew 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 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'm absolutely grateful for your presence here, but more importantly, I'm here to serve you. So feel free to pick up this phone. Any phone. Your phone, 877-927-6648. If you can't dial in, well, let those fingers do the walking. That's right. Send me an email. Steve at TFNN.com inside the subject heading. Please put radio show question, of course, in our Tiger's Den. Any ping will do. So let's go ahead and get started. Take a look at these markets. Of course, this is Tiger Financial News Network. I'm Steve Rhodes. Welcome to Lush Show right now. The Dow out 54 points. Trading at 26-143. S&P up 6. NASDAQ 100 up 3 quarters of a percent. 55 points. Russell's up nearly one full percentage point. Trading out at 15-36 up nearly 14 points. Summizer flat. New York Stock Exchange. Wilshire. They're up. The transports are off 63 bucks. So a little bit of a mixed market out here. The VIX Volatility Index. Spot Volatility Index. Trading out at 15-48. I believe that's still below. It's 50-day exponential moving average. Gold is basically flat. Silver as well. Light's recruit up 22 pennies. Lean to charge the upside. You've got Array Bio Pharma. I think that's a buyout. Yeah, both that. Southern B. So Amazon is up 14 bucks. Beyond Meetup 18. Netflix up 11 to the downside of the line. Technologies about 1.6 million shares off nearly 6 percent or 17 bucks. Echo Labs up about $7.60. Sanderson's Farm down over 5 percent or 7 bucks. So plenty to look at. Of course, we want to look at what you want to look at. So let's go take a look at the general markets. Get a feel for what's going on. Good to be back with you. Let's go take a look at the three of the equity futures contracts out here. Let's begin by taking a look at the ESMini. If you're watching us on Tiger TV, then you're going to see some red, green and blue horizontal lines out there. The blue represent the daily, the green, the weekly and the red monthly. What they represent for those timeframes are the horizontal trading ranges. Horizontal trading ranges are produced by taking a look at a bunch of data as much as you can fit on the screen. In my case here, I think I go back into the 1990s. And so it's got quite a bit of data. It's looking at the closing price, right? The body of a candle, you and I, well, I use candlestick charting. When you take a look at a candlestick, you've got a body. That's the open and the close. When you take a look at a red-bodied candle, it tells you where the open was higher than where the close was. A green-bodied candle, the close was higher than where the open was. Simple as that. Neither bullish nor bearish. Just green means it closed above the open, red closed below the open. Then you've got the extreme emotions for the timeframe that you're dealing with. This is a daily timeframe that I'm showing with those three different horizontal trading range levels out there. But each of the horizontal trading ranges for their different timeframes are using the opens and closes of a candle for that timeframe out there. Then what I'm doing is I've got a computerized system. It goes out there. It figures out where the largest concentration of opens or closes is for that timeframe. It figures out where that second level is. And then from there, we just simply take that price difference and add it to the top and bottom for those different timeframes. A month is going to end typically on a different day than, let's say, the week. Not always, but obviously a daily chart is going to end on a Friday and a weekly on a Friday and a monthly that ends on a Friday. But it doesn't always work that way. That's why we have different numbers out here. Now that we've gone through what in the Sam heck this is, here's what we know. We know that at the 2906 level, we've seen 39 opens or closes on a daily timeframe. Fairly significant. The next level that's more significant on here would be 2728. That's where the S&P 500 or the S-Mini, really what I should say, found the bottom back here on June the 3rd. Prices run up to its daily horizontal. There's a daily and a monthly sitting right there. So this 2906 level is the area to really be watching. If the S-Mini closes above 2906, well then it is very likely on to its next level. The next level would be the 2957 area. Now I'll go through the full explanation. We take a look at the Dow equity futures contract. But what you will notice here is there have been 56. Opens or closes on a daily basis in the 26191 area. We're trading at 26160. This is a real significant resistance level. Now support hasn't broken. We just simply take a look at the horizontal trading ranges. So what you have is it's trying to crack the ice. And if we see a close above 26192, you do not want to be short the Dow. Because that suggests that price will run to 26553. I'd say you get above 26191. We're probably more likely or it's more likely Dow equity futures contract under the 26824. But here's the deal. It's up against daily and weekly resistance. Whether or not it's going to close above that level or not, I don't know. I wish I knew. I wish I had that answer. We can go take a look at some tools that will give us suggestions as what the market is tipping its hat or communicating to you and I. And if we take a look at the end queue here during the next minute, you're not going to see the daily. I've turned the daily off. You just have the weekly and the monthly horizontal trading range. The reason I turned it off is because it was the, even though it's a daily timeframe chart, it was the weekly and monthly that were providing us with the best information. Right now we can see prices in between two weekly profile levels. And that suggests to me that what price is trying to do is get up to the 7622 area above that would be 7714. We take a look at the profile levels out here. The beauty about the Dow and the reason why it should be able to take out that resistance level is because it's above the top of a daily profile. This is the daily profile that formed last week. That level was 26121. You're 26159. You close above 26121 suggests the market moves to higher price. The ESMini, the NQ, the Russell 2000 is trading above the top of its profile, daily profile 1529. So that's bullish. So in essence here, we've got all of the equity futures contracts trading above daily profiles resistance levels. I don't know where things end the day, but it looks pretty good to Stevie's son. Hey, speaking of looking pretty good, we talked about that spot volatility index right now trading out at 1550. 1587 is a 50-day exponential moving average. 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Toll free at 1-877-927-6648. Internationally at 727-873-7618. Folks, so Ruby the Tigers didn't want to take a look at the Great British Pwn futures, so let's go take a look at the market profiles here for Ruby. And Ruby, here's the 30-minute. Let's change that to a 60-minute timeframe just for the heck of it. So we've got a 60-minute on the left-hand side, 120, 300. That's the five-hour timeframe. And then the daily. What we can see is all of the bars are red for each of the timeframe. So price is trading below all of the bottoms of those boxes out there. And that suggests lower prices out here. What I don't have here, Ruby, and I'll do this tomorrow for you. I can't do it live during the show because I have so many tools that are open up, which is at the current September contract symbol. And so hit me up tomorrow and we'll see if there's any kind of bottoming signal or pattern that is out here. And it's possible that price is moving lower, doing less relative energy. You don't have any type of bullish reversal signal. So even if that's what it's showing me, there's nothing for you to trade upon today. You know, I'd switch the 60-minute to 30-minute for you. We'll come back to the 30-minute profile. I believe price is also down below the bottom of that box. Is this a brand new profile that formed half an hour ago? So I don't see a bottom here just yet, but I would really need to go to my other bottoming tools to make that determination for us. Is there a larger A to B equal CD to the downside? Let me just put up the continuous contract. And take a quick peek out here, see what we've got. And certainly there is. We can take a look at the last bottom that formed out here. It looks like that's with the A to B equal CD pattern that had completed. And that was your 1 to 1.272, because you didn't have a bullish reversal candle out here on May 31st, Ruby. So what we know is that, and that was an A to B equal CD pattern, to call it a Gartley buy would be stretching it. Let me see how much of a stretch. If we get to the point, if it's just hovering around, the retracement was around 0.786. That's below that, was below that. So more of the signs of a potential consolidation than anything else. But here's what we know. Every A to B equal CD pattern out there, Ruby, and so we know the A to B equal CD pattern that was present, you should at least get a dead cat bounce. The dead cat bounce would take you in essence up to the 0.382 level. Now remember, I'm using a continuous contract, so you'd want to do this on the contract that you're trading. But we can see that price never even made it even close after that bullish reversal signal on May 31st out there, telling us just simply how weak it is. So back to the September futures contract here, until I get the other tools out there, we're not seeing any kind of a bottom signal as we speak just yet. And again, even on the daily basis, we would need some type of bullish reversal candle in order to suggest that, okay, another attempt of the A to B equal CD would be just fine. So I hope that helps you out. And thanks for writing in inside our Tigers Den. We've got a question here coming in from HD. That's the high definition listener out here in HD says HD. Would you please look at RIG? Let's go take a look at RIG as a Turkish Civil Trans Ocean and wondering if it's a possible long here. So excellent question. Now here we always like to start off by taking a look at our market profiles. So as we take a look at those, we're going to see just like in the Great British Pound, but here I can go ahead and show you the other charts out there. Whereas for Ruby, I couldn't do that during the show because it's just unfortunately too much processing time. But I would say this HD, it's going to be dependent upon the close. You can see that today's candle session lower left from a daily standpoint is a bullish engulfing right now. Now, just because the bullish engulfing form doesn't mean that that's the bottom. However, my eyes were on the other side of the chart or the other tool that I haven't put up there yet. That's this one. That's why that is important because what we can see out here is as long as price inside rig today closes below, that's right, below the price point of 590 and you're at 560 right now, then what you're going to have is a TD set up nine count. Friday was count number eight. Today will be count number nine and you can see that price is trading right now just above Stevie's red line. Let me give you what that exact number is for you, what that red line number is. It is, well, let me see here. Maybe I have to come down here. There we go. That red line is, that's not right. What the heck? What the heck? It's 559 and we're trading at 561. So a close above 559, I can see taking a trade inside of a rig with regard to that TD set up nine count with regard to where price might bounce to. Look, you've got the bottom of the box at 654 and the daily 665 on the weekly. So those would become target prices. You certainly had a gap to the downside. Remember gaps are your friends because of information they provide. So there is certainly some resistance at 584 to 588 out there. That's where your gap is at. But if you're asking me, is there a bottoming signal inside of ticker symbol RIG? The answer is there is as of 124 in the afternoon. At four o'clock, you'd like to see price close above Stevie's red line. I believe that was 559. We're trading at 560. So it's pretty tough to make that call. You can see how Stevie's red line is acted as resistance for quite some period of time. So I'd like the market, I'd like rig itself to prove that to your HD before you step in on that trade. Now look, I do not have any kind of bottoming signal on a weekly timeframe out here or necessarily a monthly timeframe. So, but there's your early warning Doppler signal brought to you by the good folks here at Tiger Financial News Network. And this is Steve Rhodes. All right. So no more questions. So please send in those cards and letters. Steve at tfn.com. Just put radio show question. If you can inside the Tiger's Den, would love to hear from you as well. In the meantime, let's go take a look at what do we want to take a look at out here. Oh, I know what I can do. So we took a look at the resistance levels inside the daily timeframe for the equity futures contracts. If you want to really get a feel for what the market is doing, shorter term, so to speak, just take a look at the 120 minute charts for the equity futures contract. Now, what you're going to notice out here, what Steve is going to point out, T, is the red horizontal line and the green horizontal line, each being set up, green being resistance, red being support, each being set up from a 120 minute timeframe in the ESMini by its TD set up nine counts out there. So resistance as we speak right now is 290550. If you get a close above that, price will have broken and taken out a resistance level. That's right. I'm not looking at the 5905 level. 6905, what the heck am I talking about there? The 2911 area, 291150, to be exact out here with regard to the September contract for the ESMini, it's more going to be the other level, that green line out here. And not until price closes below support, that number will be 2871, whether it be some kind of message. But there's your trading range inside the ESMini. You've got the same type of trading range on the 120 minute timeframe inside the NQ. Take a look at it. The level that it now needs to be able to take out, that's priced at 7613. We get back to this break. I'll give you what the Russell 2000 is doing on the two hour timeframe. 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 trade 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 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 tfn.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. The path of least resistance is David White's daily trading newsletter. And if you're looking for active trading ideas then now is a perfect time for a 30-day free trial to this powerful daily trading advisory service. David uses his years of trading experience to offer his subscribers his trading ideas each morning in his path of least resistance newsletter. Using a combination of equity trades along with options, David keeps his subscribers up to date with all pertinent market information with intraday afternoon updates when warranted. 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The Art of Timing the Trade charts is designed to help you in 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. All right, folks, sorry about that. A little technical difficulty, but Mr. Bill, I should be back alive and kicking, and we wanted to take a look at the Russell 2000 equity futures contract. Right now, the Russell is up 13 points, straight out at $15.36. But let's go take a look at the Russell 2000 equity futures contract. It's a two-hour time frame that's really providing the opportunity for you to learn about the future of the future of the market. The Art of Timing the Trade charts is a two-hour time frame that's really providing the most significant levels for us to be watching. And here we can see so when the Russell 2000 equity futures contract from a two-hour time frame topped, it actually formed with a TD setup 9-come. This was at $2,200 back on June the 13th. Now the low of that entire count set that support level. That was down here at that price at $15.27. Now price broke through that. This was at about 2 o'clock last week on Friday and then it was count number 8 that actually made that low. That was at 5 o'clock. And so what we can see here is there was a 9-count bottom that had formed. Now that 9-count bottom set up the resistance level. That resistance level is set up right here. That was June 14th. That took place at 4 o'clock in the morning. And that price point was $15.4190. $15.4190 is the level to be watching. The actual high that we've seen during this past two hours has been $15.41. So price is right now traded up into resistance. It doesn't tell me whether price is going to break through resistance or not, but on a two-hour time frame, if we're looking for signals from the market, the first signal could come from the Russell 2000. So continue to pay attention to that throughout the trading session. All we know as we speak right now is that price has hit resistance. Was there another question? Was there a question out there? No, I don't think so. We got to rig. I don't see anything else. If there was another question to Den, maybe somebody if you asked it, if you could just retype it, that would be great just so I don't get off course, but I sort of am, of course, so to speak. It's like hitting a duck hook in the wrong spot. In any event let's go see if we can scramble and get the heck out of that. So we haven't taken a look at gold. Do we need to take a look at gold? We probably need to take a look at gold. We should take a look at gold. So what's the level we're going to be watching for inside of Goldilocks today? Let's look at a 30-minute time frame chart out here. We can see that this had bottomed earlier this morning as it was moving down. It was creating that nine count out here at about 5.30 this morning. Now price ran right up into resistance and actually closed just above it. It's always a little while you like to wait maybe for one bar. It was a confirmation when you break through resistance or support because you had that complete failure on a 30-minute basis as you came into that 10 o'clock time frame. Now price is trading with inside the range, not providing us with a really great signal. The range to the upside is that high from 13.45-40. A close above that would say higher price. Likewise, if we get a close below at this stage here, I'm going to go with this low of 13.36 and some change, then you could have actually an A to B equal CD to the downside that is unfolding inside of gold. Now that's just the 30-minute time frame. If we take a look at Goldilocks on the daily time frame, just trading out a buck 90 right now, is that a problem? Well, I don't know. You had that 100% move of a move. 100% move of a move means you take a prior swing point. In the case of Goldilocks, that's February 20th. Price gets up there and rejects it. I don't have volume out here that we're going to rely upon, but you did have price test and reject it. If it was on lighter volume, well, that's bad news. As you could always, you can't bust them up. You try to go bust them down. Where's bust them down? We'll just put a yellow line out there. You can see that very clearly out here, and that's in that 1274. So there's your trading range for Goldilocks. We go ahead and we put on the market profiles for Goldilocks. What is that going to tell both you to look at the daily and weekly combined if I can find them? Here we go. If we take a look at the daily, you can see the profile is running from the top of the box at $1345, so resistance price still below that to the bottom at $1323 out there. Here's what we know about Goldilocks. Failed to break out the highs. Came back, close below resistance of the top of its daily profile. What's its trading at right now? And I would say I would then go to defer back to that 30-minute timeframe to say if price goes below that support level, you're looking for a run down to $1323. So I got your attention. Somebody might say, well, what was that support level against Stevo? Well, that support level, I would say would be the prior swing point low on a short-term basis, and that's going to look like $1336, $60 out there would be the number. So that's what I see when I take a look at Goldilocks. What else do we want to go look at out here? I don't know the answer. There's no request inside the Tigers. They're kind of quiet out there. No other request inside the email alerts and the phone lines are open. But let's go take a look at things that are moving in the marketplace. Facebook, Facebook is moving. Trade out $187. Let's go take a look at Facebook, get a feel for what it's doing in relationship to its TAS market profiles. It's going to be a daily above the weekly and it looks like it's trading up towards the monthly timeframe of resistance here $199.50 out here. That would be your resistance area. Today is going to be day number 7 of a potential TD set up 9 count. That means that if there's a high that's going to form inside of Facebook, it's not going to be today that you'd be watching. It could be tomorrow. It could be Wednesday or it could be Thursday. So in the case of Facebook, that you would be wanting to watch out here. But as we speak right now, everything looks hunky dory. Take a look at the volume inside the move today. You've got 16.9 million shares. Last time price was up here. Looks like it was with about 12 million shares. So price moving higher, doing it with some good volume. About 13 million shares. So everything was pretty good at the high. Was it the all time high? No, it wasn't. The most recent high out there, even I knew that. But the most recent high, that 100% move of a move, so to speak. That's April 25th. 54 million shares there. We'll watch how Facebook is trading. It's TD set up counts as well as it approaches that 192 12 level. That's the low of April 25th and looks to me like that is where FB Facebook is headed to. We go take a bite in the apple. Facebook is doing moving higher. And that is trading with inside trading ranges established by its TAS market profiles. If we take a look at the daily trading between 190 11 the bottom and the top is 196 79. You want to watch that top to see if price closes above that level from a weekly standpoint, you're trading below the top at 209 16 in the bottom 187 out here. Looks like real resistance is in that 197 inch range. You got 196 79 on the daily 209 on the weekly and 197 86. That is your resistance zone for ticker symbol double a MCO actually that's ticker symbol for double a P L for Apple Douse up 55 s and P 7 will be right back. If you're in the CD market and looking for a secure investment, the Tiger first mortgage program may work for you. The security for these first mortgages are building lots in the tax opportunity zone in St. Petersburg, Florida. The tax act of 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. 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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 risk free for 30 days from all aspects of the markets including stocks, bonds, levels, commodities and tech there's a newsletter to fit your needs exclusively from TFNN Stay informed each day you trade and get the 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 Educating investors Otec is booming but for how long? Whether you think the biotech bull is a 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 today An investor should consider the investment objectives, risks, charges and expenses of the Direction Shares carefully before investing The Prospectus and Summary Prospectus contain this and other information about Direction Shares To obtain a Prospectus or Summary Prospectus please contact Direction Shares at 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 Visit DirectionInvestments.com and hit watch Tiger TV for the latest market information Tiger's Den wants to take a look at Ticker Symbol MU that's Micron Technology he says there is unusual option activity going into next month and possibly from a long call situation and I typed in what Mr. Bill wanted to take a look at were the TAS market profiles so we have those on the system now TAS market profiles this is how I'd like it to think of them for those of you that like the game of football I want you to think of those TAS market profiles as the first down markers out here as the chains so assume you've got a first down you've got one marker, one chain where that ball is spotted and then you've got ten yards so in trading and investing we don't use yards when we take a look at price out here those markers at those markers are not going to be leading indicator tools they're going to tell us where price needs to get above to be breaking out and take out resistance to the upside and then a new profile will eventually form and well as well as to the downside if you kind of like in the you know it tells you that your defense didn't hold the bottom of the box out there so that's why I want you to use that so now we can use those in addition to other tools out here but never a leading indicator as to when a top or a bottom has formed provides us with that information where buyers and sellers are lined up but that is really and they're useful so useful I would not trade without them they're a great tool but they're not going to identify what Mr. Bill's looking for maybe a bit of hey what's going on with regard to that with that activity out there what is it that people are seeing steves roads momentum indicator signal we can see that prices been stretching doing less relative energy was doing that today it doesn't look like we're going to get that earlier in the day and Mr. Bill I was already looking at this as a potential long trade for client subscribers out there earlier in the day like around 1130 noon we actually had a little bit of a we had a hammer candle that was out there we have that right now and it looks like the body of this candle maybe end up being twice more than twice the size of the wick out there so now all we've got is steve's red line if we got a bullish reversal candle if we had gotten a hammer today then I would have taken a trade inside of MU of micron out here because that would have given me the necessary signal and I would have used that bill at the same time we had the buyers at that 3255 level that were at least out there to try to defend the position now the bounce may only get up to the 3551 level the top of that daily profile again those are our first down or our yardage markers on both ends of the spectrum out here we don't have anything worthwhile in the daily I'm sorry the weekly or the monthly tang our hat on so to speak what we do have on the weekly tang our hat on and a reason to consider is that price on a weekly basis has come back to support the breakout level that's that red horizontal line set up by that that set up nine count out here and price has been testing that level since May this weekly time frame so the week of May 31st the following week then last week even this week out here you get the possibility of a set up nine count forming on a weekly basis I'm more interested right now in taking a look at has price really come back to support because if I look at the daily time or the weekly time frame using our task profiles bill I'm not going to find that am I but you and I know that's not the only thing right when we take a look at markets we want to use the the tools that really help us to understand when prices pulling back to a breakout area and on a weekly basis what we just looked at says that the micron technology is so with regard to those folks that are trying to reduce risk by taking an options trade I totally see it I totally get it I was looking at it from a stock trade position and for me I just need to see a bullish reversal signal so it may not be today maybe it's Wednesday maybe it's not at all out there so I hope that helps you out with regard to that trade out there the TAS weekly is a new box yes it is it is a new box it's bearish out there it is it's not within the prior box the bottom the bottom in the center line bill are both at 33 42 so you only see two lines out there let me make it easier for him to see for you at home to see we just simply turn off price so now you can see the new it's the newest one that is out here you only see a red line and a green line if you look up in my box in the right hand corner you'll see the center CTR and bottom BOT both at 33 42 now that should be a strong ordinarily we'd say that's a strong support area but right now we have said it's a strong resistance level right because price is trading below that I say it's bearish only from the standpoint that this box formed below the prior box out there so it's somewhat bearish if we take a look at volume let's do this let's as long as we're really investigating this earlier today when I was looking at it the volume was light so we were seeing a test of the swing point let me put that in here let's go take a look at the prior swing point inside a micron that was from the trading day of May 29 that prior swing point at volume of 28 million you're at 12.3 right now 148 and you've tested that you got down to 32 14 so you're getting a rejection of a swing point on light volume as well as stretching to the downside so again how would I take this bill you're looking at this from an option standpoint so that's how I think you should pursue this if you're you want to if you're going to is to pursue it from that standpoint from a longer term holding I'd really want to see that pattern complete so I hope that helps you out with regard to micron technology I like the way that you were thinking because well I was already thinking the same thing but was waiting as I said for that bullish reversal signal okay so Russell 2000 equity futures contract but moving up just slightly out there but you've one great mind your great mind minds you know so so out here so we know our ranges right we can't we know our ranges that's which is cool both daily and weekly because we had those horizontal trading ranges just simply as well as those TD set up a range level so a range bound out here until and I would I would think I believe that said two hour time frame chart that's going to be most fat now with regard to the NQ though I'm going to take that back right we're looking at Facebook we're like they're all to the upside the ones that have about a 40 or 50% waiting Microsoft Apple Amazon Google Facebook Cisco that represents right there I believe fit more than 50% they're all trading to the upside so in the NQ what you're going to want to be watching out here and we've talked about this level here for a while this is the resistance line this is that green horizontal line going across my screen if you see a close above 75 50 don't be short the NQ right now a price is up a resistance I get it again that that's a you know it's when you can't take out resistance it kind of makes you want to say something to think about however prices above Stevie's red line at 74 28 out here you're only in wave number a or one to this stage so the key level and because you can see that it's been tested a couple of times and it's failed inside the NQ 75 85 50 now the NQ ought to be able to and if the NQ could do that it'll lift all tides higher it'll lift all those boats out there and they'll want to continue to run higher in the ES mini that price point that it wants to run higher to is where it had broken down that's 29 now is that the right number 29 38 25 that is the number out there inside of the NQ Steve Rhodes with tfnn we'll be back for our two-minute wrap since 1984 Basil Chapman has been using the Chapman wave methodology to advise traders of his expert market opinion well originally hand drawing charts from the late 1970s into the 1980s Basil noticed that prices under most circumstances virtually always had a certain number of legs to the upside before declining sharply later he found that computer software which included the standard market technical indicators enhanced the degree of accuracy in calling price turns as well as market trend calls thus was born the Chapman wave sequence using the Chapman wave methodology along with other indicators Basil Chapman advises his subscribers of his expert market opinion each market day with his opening call newsletter right now you can get a two week free trial to the opening call Basil's daily trading newsletter by visiting the front page of tfnn.com cancel at any time during that trial and pay absolutely nothing get your two week free trial to Basil's newsletter the opening call today by visiting tfnn.com 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 $1,900 in 2011 and after spending many years consolidating 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% for each 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 Nicar hunter and gatherer ancestors found all their nutritional requirements for health in their wild 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 some light air and water life cannot exist without them that's right page here 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 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 any right so much take a look at a couple of our first announcements the first one is W.G.O. otherwise known as wagyu beef no it's Winnebago out there and so here's what I see and if we just take a look at what it did on Friday price closed over the April 18th swing point that had 434,000 shares that traded on Friday it closed above that with 385 so 434 versus 385 it may be a false breakout is what that volume 232 so looks like it's still going to be light that doesn't mean that the ABCD pattern can't take place by the way that A to B equal CD pattern out here would give you a price projection in the range of the one to one would be 4079 out here 1 to 1.243 18 but it doesn't have the conviction right behind that I know you're looking for just a short-term trade out here if I take a look at this daily timeframe we're going to see that Friday set up our count number 9 of that bar number 9 and we haven't made a higher high today we don't need to so this says caution will Robinson so would I take the long trade right now you're asking me which way may it go one way or the other there's potential topping signals out here you'd want to see some type of bearish reversal tomorrow on a price that gets you back below 3693 out here so that's what I see when I take a look at Winnebago or Waghu beef it's always a ticker symbol the next next one you want to take a look at is KMX and KMX at his car max out here car max let me add that to my other screens see what we see out here price above the daily price is above the weekly profile price above the monthly so this looks pretty darn tootin good now price is moving higher doing less relative energy out there so that's always a caution sign but not until we see some type of bearish reversal signal that is not the candle stick that we have today out here so where is it that this could head to hmm hmm I don't know but it looks more bullish than bearish as we speak folks thanks for being here stay tuned our polar bear best polar bear the entire world David White he's up next good to be back with you I look forward to seeing you on terrific Tuesday take care