 is a presentation of TFNN, The Trader's Edge with Steve Rhodes, toll-free at 1-877-927-6648 or internationally at 727-873-7618. The Trader's Edge now Steve Rhodes. Good afternoon folks welcome to the January 13th, the terrific Thursday edition of today's Trader's Edge show. I'm your host D.B. Perseverance Rhodes who absolutely knows any division always be pioneers of our future versus prisoners of our past. I hope everyone out there is having a great day. Let's make sure we have an extraordinary one and the easiest way to do that is to always remember that life is happening for us not to us. That's right we need to make that one little two by four ship well means we can find the gift in every set of circumstance that life is going to toss at us. Now today you and I we're going to go check on the circumstance of these markets. We'll go figure out what the bulls and bears what those buyers and sellers are communicating to you and I just past one o'clock in the afternoon. I want you to know I'm absolutely grateful for your presence here but more important than that that's this during this next 60 minutes I'm here to serve you so feel free to pick up that phone you can dial on into 877-927-6648 if you can't dial in we've got you covered there too go ahead and send me an email send it to Steve at tfnn.com and inside the subject heading if you would be kind enough to put radio show question of course in our Tigers then well any in every ping will do so let's go ahead and get this show started on terrific Thursday of course this is tiger financial news network I've Steve Rhodes welcome to less show right now we've got a mixed board out here you got the dows up 25 the s&p's top 27 NASDAQ's down 21 the Russell's just slightly green I mean very slightly some eyes are down 22 trannies are up 108 New York stock exchange is up 11 points composites on 197 it is a mixed bag out there that was for Jimmy in the Tigers 10 if we take a look at Goldilocks she's back 740 hitting resistance earlier today yesterday it's trained out at 1820 Silver's down three pennies trained at 2318 lights recruit up 33 cents she's trained at 82 30 lead the charge dollar wise to the upside lamb research 24 bucks booking holdings 25 biogen bwib up 12 that's nearly 6% Taiwan semiconductor up 7% that's nearly 10 bucks charter communication one and a half percent or nine buck runes to the downside $79 to the downside and about 7% Shopify Amazon's up 46 one and a half percent Mercado Lee Ray off 39 3% Tesla's off 43 about 4% service now 36 6% so we've got some movers and some shakers but what we want to do is begin with the weak link out here and that's the NASDAQ the NASDAQ trading the lowest from a percentage standpoint so we're going to spend time taking a look at the NDX 100 so to begin with let's just take a look and see what's going on just simply from a volume metric standpoint we'll do that by take a look at two instruments out here first we're going to take a look at the cues the weighted version and what we can see here is so the swing point for the cues that we're using as a benchmark right now is the trading session from just three days ago octah january the 10th when the cues moved lower on that trading session it did volume of 92 million shares 91.770 to be exact we'll call it 92 million right now as of 109 so we've been trading from 930 1030 1130 1231 so we got but three and a half hours in a six hour trading session six and a half hour trading session so even if we multiply times two we get to 82 we're going to be light on volume I don't know what the end of the day volume is but right now what we have is a test and rejection of a swing point the cues themselves have a bullish structured daily profile price is still above the center of that level 379 20 so if you're asking Steve at one 10 in the afternoon what is the signal from the cues they're not getting ready to bust it to the downside they don't have the volume it doesn't mean that things can't change in the next two hours and 50 minutes but uh does that get us to four three hours and yeah you know what I mean out there so right now as we take a look at just the cues they're not they're they're not saying hey we're getting ready to bust out and head to the lows now let's take a look at the QQEW which is even a better reference with regard to what the overall Nasdaq 100 is doing and here's we take a look at the QQQEW that's what we use for that there's I think there's a couple others out there that are equal weighted ETFs for the cues here we've got volume with 29 000 shares to the downside now when the equal weighted ETF cues on January 10th made its low it was with 116 000 shares now not big volume here but we're using this really as a benchmark to understand what the market's communicating to you and I at 111 the afternoon and right now it's telling us it is not getting ready to crack to the downside again this is going to be an important reading at four o'clock more important than it is at 111 in the afternoon but still we're getting information with regard to what's the reading at 111 so we know that the issue is not in the equal weighted ETF that's really clear out here or at least it's clear to Stevie not that there's not problems but that's not where the issue is the issue is going to be in that top eight or nine constituents out there that make up almost 50 percent or do make up 50 percent of the ETF the QQQEW so I'm sorry the QQQQ series so let's go take a look at what's going on amongst those top nine instruments now I say nine I'm going to show eight but that's because Google's got two different stock symbols out there so here we begin by taking a look at Apple actually you know what I want to do here I'm just going to show this screen momentarily and then we'll let's go back to the um let's go back to the black background black background charts because there I can pick out it's easier for you to see the volume as well but here as we take a look at this I'm just looking at these top eight instruments which ones are the ones that are the most concerning out here and I would say it would be Microsoft we'll take we're certainly going to look at that and Nvidia the reason why I choose those two it's not because I chose them it's because the market chose them is that we can see that in the case of Microsoft its oscillator and change line had changed from green to red and yesterday was that test of that line that is bearish action so we're going to take a look at the volume to see what it says we take a look at Nvidia the same thing yesterday its oscillator change line changes colors basically was a test yesterday as well as today so those are the two real weak links from that perspective out here now let's go take a look at the volume metrics is I'm not sure that that's a word out there that I'm pretty sure that it's not but now let's come back here so the first one we're going to look at is apple so we want to see apple it's trading back I don't know if it's even gotten back no it has not gotten back to that swing point so again the swing point that we're looking here looking at from a benchmark in the case of apples January 10th and in the case of the QQEW the same thing in the case of the Q so volume there was 106 million we're at 44 million shares so the number one instrument that could push the market's lower is apple and it doesn't it hasn't even gotten down to that swing point and it's pulling back on substantially lighter volume now in the case of apple here kind of an interesting profile in that the bottom of the profile is below the prior bottom but the top is above the prior top what this is telling you and I is really to get if we use apple as a a harbinger of what is to come this says consolidation so this says two-way trading market out here so actually today's exercise pretty important for us to take a look at so in the case of apple it's not saying hey prepare for a move south Microsoft I believe is still the number two holding inside the QQQs out here as we talked about gave us a bad signal yesterday or bearish signal yesterday by testing that oscillator and change line which was read it's pulling back so far today its volume is 18 million shares so it's the weak link out here just simply from that oscillator and change line standpoint and it's pulling back with really light volume it's got 44 million shares on january 10 308 16 should absolutely hold in the case of Microsoft we'll come back we'll finish looking at amazon facebook tesla nvidia google in uh broadcom abgo we'll be right back steve road started his trading career as a student almost 20 years ago and the student has now become the master steve won the prestigious timer of the year award in 2018 and barely missed that mark again in 2019 finishing at number two for the year an amazing accomplishment steve roads is committed to sharing his techniques and knowledge with anyone who wants to learn and he shares his vast amount of trading knowledge every day in his mastering probability newsletter steve's award-winning newsletter mastering probability is delivered every trading day with updates throughout the afternoon sign up for steve's market newsletter mastering probability and you'll receive access to seven of steve's educational webinars absolutely free at tfnn all our newsletters come with a 30-day money back guarantee so you have absolutely nothing to worry about visit tfnn.com and try mastering probability 30 days risk-free today tfnn educating investors what's separating you from the most successful men and women on wall street that's right information having all the information gives us the perspective we need to place the right trades at the right time the tas profile scanner is the premier market profile base scanner powered by its acclaimed task proprietary algorithms this feature rich scanner instantly filters over 2,500 plus global financial markets such as 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while taking calls and questions live from around the world from the moment the market opens until the closing bell sounds tiger tv has eight different shows with expert hosts to help you make the right moves with your money watch online at tfnn.com or on tfnn's youtube channel and become the investor you were born to be tfnn educating investors toll free at 1-877-927-6648 internationally at 727-873-7618 back folks we're uh we're taking a look at the top nine instruments inside the ndx100 the qqq series etf out here we're just trying to understand the volume in today's pull back out here so we looked at apple and microsoft we're able to identify that both of those those are the two top instruments are pulling back with much lighter volume in the case of amazon same message out here now amazon has already tested and so far rejected that swing point from january 10th which did volume of 4.4 million shares as of 118 your 1.4 million shares so there's another test and rejection let's go to the next one which would be facebook i believe as we take a look at facebook uh has this gotten back to its swing point oh it has so january 10th the swing point in 25 million shares you're at eight million shares as we speak right now so not that it can't get a lot of volume going in the next three hours but if if nothing strange happens out there you've got your first four instruments inside the ndx100 that are testing and rejecting that key swing point of course it's going to be dependent upon four o'clock versus right now but right now as we speak they're testing and rejecting those swing points they're saying we're not ready to head lower out here let's go to the next one which would be tesla now tesla t sl a let's go see what it's doing it's also testing we're getting close to testing its swing point from january 10th that had volume of 31 at million shares you're at 20 million so tesla's got the volume but if it does close above let me get the swing point high for you if it does close above 10 59 10 and you're 10 59 82 right now you'll at least have a rejection of that swing point that would then say if it does more than 30 million shares today price will at least get back and test that high of 10 59 10 if it closed below 10 59 10 and it does so with volume tesla could be suggesting that it wants to get back and test the low of that swing point from january 10 and that's priced at 980 so you do have tesla the first one of the five that is pulling back with some volume let's check out n video here nvda is a ticker symbol it's trading into that same january 10 swing point which did volume on that day of 60 million shares and today 35 million shares yeah and this has tested and rejected it's a taz market profile the bottom of that which is down at the 266 57 so it's not ready for prime time to bust out the lows google will just take a look at g o o g out there will get a decent enough feel for what it's but well shoot it's not even close to getting back and testing that swing point from january 10th which did million of 1.7 you're at 600 000 shares but you're quite a ways away from that out here all it's done is tested yesterday swing which did one point under yesterday's gap to the upside two days ago i take that back as a gap and it looks like it has basically filled that and it's pulled back into that with lighter volume so google doesn't look like it's prime time ready to go to the downside let's the last instrument out here a vgo abgo which is uh broadcom as we take a look at broadcom broadcom is trading into that swing point from january 10th that's when you had 2.9 million shares you're into with 1.1 wow yeah so you've just got light volume now look both abgo and microsoft are the two worst looking instruments out there i would say now here's the deal though and you can't see this if abgo broadcom itself can get below just spike below the low from january 10th that low is 60357 then today will become the bar following bar number nine and you would have a td9 count pattern at a breakout level this thing broke out with volume back on december the 10th it did it with 5.7 million shares and again you're pulling back with 1.1 it is pulling back into a breakout level with a very light volume so there's so what does this tell us at this stage here we'll simply go back to the qqq series etf and this is what you should be watching for and that is does the q close below or above 3864 3864 is the top from that swing point from the trading day of january 10th doesn't look like we're going to get the volume if you test and reject that level we probably go back to test those highs 389 level the top of its daily profile if you close under 3864 even with lighter volume well then you can get back and test the bottom that swing point however in this instance you can see the qqq series etf has straightened into a bowler structured profile and that would say that what the q should do even if you do close below 3864 is find support between 375 90 and 379 20 that was a mouthful out there now we're not going to do the same thing for the s and p and try to go through its top 10 interest but we do want to go take a look at spy the i w on the diamond just try to get some type of volume profile perspective so to speak i probably shouldn't use the word the case of the spies has not made its way back to the swing point from january 10th it's got 120 million shares today you're 38 million so again pulling back on light volume the i w on the russell 2000 certainly struggling out there so the russell 2000 is testing that january 10th swing point 45 million shares you're doing it today with 19 million shares wow let's finish this off and take a look at the dow diamonds the dow diamonds out here they're pulling back have not made it anywhere near that swing point from january 10th about 9 million shares that day today you're only about 3.8 yeah it does not look like these markets are prime time ready to head to the south speaking of heading to the south let's go to the north let's go up to philly and speak with john john thanks for calling thanks for holding how are you uh hi steve i think you're talking to me uh i'm sorry this is uh jeff i'm also in philly i know there's a john from philly who calls in this is uh jeff jeff my apology uh i'm i'm i'm just at the third grade reading level and uh i promise to do my homework tonight i won't i won't make that mistake again at least i hope i won't you know it doesn't matter if you can read it only matters if you can call which way the stocks are going oh okay all right good all right so you'll let me off you'll let me off the tools so jeff how can i help you what do you want to look at yes yes i have a odd question for you and i can tell you why i'm asking it if you want but my question is um what your recommendation would be if i wanted to uh periodically find the 10 top most traded uh momentum stocks so if i wanted to use a uh a screener or something like that um you know how would i go about uh a criteria or maybe the inside of an etf or something like that if i wanted to see the 10 most traded uh momentum stocks yeah so i think so i i don't know the answer to that question uh so let me let me so so i i don't know that what i would throw out to you though uh is something that would have to be answered is what are you going to use for the determination of momentum oh that was my question ah well because there's a yeah so there's a number of different tools out there that you could use um so i really think you've got to you know you you've got to make a determination because i don't think there's like one clear cut determination with regard to what's going to be momentum out there um so i don't tell you what i'm using now currently is um i look at the uh percent of uh atr so like i would identify a momentum stock as having some minimum large volume like maybe two million shares a day and like which one has the highest percentage uh atr on the average and is that working uh well certainly i've identified stocks and they they look like momentum stocks but what so the reason i'm asking this is that uh every morning at 9 20 you know right before the open i'd look at the pre-market volume of the top 10 momentum stocks and i use that as an indicator of whether to take a certain trade if there's really high volume i don't want to take the certain kind of trade that that i might take so um i use it as an indicator well let's do this jeff hang on if you would we're going to go to a break here pay a couple of bills but we should be back in about three to four minutes and let's pick up the uh conversation at that point in time this is jeff road to a jeff and philly we'll be right back you having fun trading the markets but having trouble finding like-minded individuals to discuss your trading and investment ideas with become an apex predator in the trading markets and join the tiger's den trading room only at tfnn.com the tiger's den is an exclusive trading room where successful traders from around the world come to exchange trades and ideas join the den and surround yourself with the sharpest minds in the trading world subscribers to the tiger's den are also the first to have their questions answered live on air and can privately chat with our tfnn and host live during their shows interact with other tigers and tigers as they share trading ideas news analysis and discuss the market action all trading day subscribe to the tiger's den risk free with our 30 day money back guarantee and become part of the tfnn trading community tfnn educating investors you could be making money off the stock market and if you're already making money off the stock market you could be making a lot more check out tfnn and tiger tv and get expert investing advice to give you the power to control your financial future go to tfnn.com and find the newsletter for you whether you're into trading gold metals futures currencies or 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fibonacci formation setups including godly's abc's 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 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 thinkorswim for more information just click the thinkorswim banner on the front page of tfnn.com welcome back folks we're on the line with jeff and philly and jeff asked a great question which is how do you identify maybe the top 10 momentum stocks in the marketplace at any one point in time and during our conversation jeff you know is kind of monitoring some of the chatter inside the tiger's den an extraordinary group of intellect inside there and I was really trying to you know look for their answers see what see what they had I mean you know and you've probably looked at some of the different momentum ETFs out there but you know that's probably not what you're really looking for and we got question we got answers to your question that are all over the board you know some people say hey take a look at the MACD tool some say you look at the oscillator and change line some take a look at the rate of change another one take a look at stock twitch and see you know what the uh with the top 10 uh uh you know search stocks are things so it's just really all over the board rich and I don't have a good answer for you I was hoping maybe I could get that great answer outside the tiger's den but again it's just a number of different factors that each person might use to determine what momentum is so I apologize for that but it is what it is that's fine it's kind of a random question but I appreciate your uh your candidness and you know I appreciate that that that's helpful yeah I mean you know momentum stock some people might say you know look at the IBD 50 as an example I mean those are those are certainly high beta momentum type names out there um but I don't know I don't know how you'd get to the top it just I would say you do what you're doing or maybe you make some change to it and uh and see if it you know see if it works for you I just don't have that solution not that I wouldn't like it I just don't have any stocks that that are you know that move dynamically which I guess that's what a momentum stock is with sufficient volume so it's a pretty simple screen I just put it in a in a screener you know yeah minimum two million shares a day and um then I just get all the answers and I sort them by ATR sure and I take a look at them and then like you had mentioned I there is a an ETF that I use I think it's called Momo the symbol and look at the top 10 holdings in there and that's another uh source and uh you know some others and then I kind of see uh what names appear from all the different sources that I'm looking at and pick them out but you know I just thought there might be some other ideas I haven't thought of it and what happened is like uh stocks that say your Momo trade today over time I notice that the volume keeps going down so I need to replace those names in my list you know with a new name that's more suitable yeah yeah well um so tell me your your analysis last couple of days what has it said or what have you gleaned out of it or is this is just really is this a use this for a directional tool in the market or for what it is you're going to trade or I might have missed that and I apologize sure well I I don't I haven't used the screener in a bit like I would only use it like maybe once every two three months to see if there's a better name to have on my top 10 list but I'd look at the pre-market volume uh like around 9 20 every morning on the 10 stocks that I have and um um so I can really go down the rabbit hole here but yeah the trade what so I use that volume with a 20-day moving average and if it's uh if it says it's high compared to a 20-day moving average then I don't want to take the certain trade and a certain trade I take it's called uh fading the opening gap on uh equity index like the Dow Jones like the ym futures contract so when it opens if you don't look at the overnight trading you can uh often see there's a gap and sometimes you want to fade that gap in other words take a trade assume that price is going to close that gap and go back to yesterday's close and when there's a lot of volume in the market in the morning something well not every time but it it kind of signals of something big is about to happen and that trade doesn't work so well when something big is about to happen so I'm kind of trying to catch a sentiment in the pre-market trading it says oh boy there's a whole lot of volume here I think something's about to happen big move today or a trend day or something like that I don't want to take my fading gap trade that that's what it's all about yeah okay okay well look it sounds logical I get what you're trying to do I wish I could or somebody in the den might be able to point you in it in an additional direction but I think it's it's something that you just have to customize yourself like you are so congratulations on doing that is there anything else I can look at for you as long as you're on the phone and I screwed up your name to begin with no I I love listening to you Steve I you're very entertaining and very informative and very helpful to everybody that calls so you're doing a great job I really well thank you that was kind of gonna say yeah I was kind of say look we're all one team out here you know I just get the I just get the use of the microphone for about an hour and really great people inside our Tigers Den and good questions all of our viewers and listeners like yourself out there and so you know you do call with a question like that you know we're just trying to I'm just trying to assess if anybody's got some some way to really help you out then help us out help me out you know we're all we're always learning every day is a learning experience in this market so yeah trading is amazingly a deep and wide subject I was really shocked to find that out I thought it would be relatively shallow body of knowledge when I first decided to become a trader and oh man it's it's never ending it's like an infinite number of ways to trade and information and well you use the term yeah yes yes you use the term rabbit hole so yeah once you get into it you're going down it all right good I won't take more of your time thank you very much Steve you bet thank you for calling that was Jeff in Philly I believe we've got another caller on the line give me a moment here to try to find out if we do hey can you post that in the Tigers Den for me how much a good number of we got rich so we got rich on the phone rich thanks for calling thanks for holding how are you today doing good Steve how about yourself very good so this is rich in the Orlando area does that the voice I recognize hey perfect perfect perfect good nice to nice to hear your voice so I believe you're calling about ticker symbol VRNT variant systems is that correct correct it's a software development company and it just looks like it just like the energizer right you know bunny here it just kind of keeps going and the question I have for you is that someplace that should take a break what is your analysis look like boy it sure looks like it is breaking out as we speak right now as it's trading above all of its profile levels prior swing points you're right now this month it's taking out the swing point which was a big big bar back in February of 2021 so the high there is 52 70 or 54 12 so it does look like this thing is in pretty big breakout mode let me just pull over the white background chart and see if there's anything here that you and I can glean from it so we take a look at the daily time frame what what I do know is there's a potential for a short term top because it is in wave I've got it as potentially wave number seven we won't get a confirmation of that wave until we see a lower high if you were to ask me where would price so are you're not in this instrument at this stage you're thinking of getting in no I'm in it I'm in a question sometimes I try to write covered calls on these things and I mean this one here just seems like it just keeps wanting to go but nothing goes forever you know true true so I don't have so on the daily time movement go ahead yeah so so on the daily time frame on the daily time frame if this were to pull back the first level of sports not much lower than where it's trading 53 46 and the second level where it really should find support is the top of its daily profile which was tested three times already that's 51 54 and that's a daily time frame but do me a favor rich I know you held on through that last call I'm going to ask you to hold on just a bit longer so that you and I come back to do it yeah we'll take a look at we'll take a look at the weekly chart the monthly chart try to figure out where this is headed to and that's ticker symbol folks vrnt see roads we back in just a few moments with rich are you in the market for buying or selling real estate in the bay area including the surrounding st. Petersburg Tampa and clearwater markets tiger real estate LLC is a firm that has extensive experience in the Tampa Bay area whether you're looking to sell your current property for maximum value or you're in the market for a second home or investment property 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 the technology around us is changing every day with so much happening it can seem impossible to keep up with all the information david 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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 principle 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 then hit watch tiger tv that's tfnn.com then hit watch tiger tv uh folks throughout the line with rich in orlando or take look at uh variant systems a real rocket ship so during the breakout they're rich uh the one thing that i noticed when i looked at the long-term time frame chart the monthly out here that the high that formed back on february of 2021 was a td9 count top and that went ahead and pulled price back um and uh now we're trading above that so i don't know where january is going to end but if it does close above 5270 that's the high from uh that trading session this tells you wants to move higher now how do i gauge where price might be moving to out here how do you gauge where price might be moving to at this stage here um you know i i could put it in a to b equal cd pattern but it's going to just say we're headed to the moon and maybe it is so the next likely stop is in the 5576 level i'm not saying that's a top rich i'm just saying that's nice like stop and that's just simply by taking uh measuring the swing point high from that trading session february 21st and pulling it back to when it made a low on the trading session july 19th above that would be the 1.618 expansion 5965 again i'm not saying that's the end of the move but what i don't really see out here um is any type of a topping pattern now it does have a roads momentum indicator signal for it's a monthly time frame that's been triggered if you were to see a bearish reversal candle that could identify a top but it's on a monthly chart that's longer term out there so i don't see that happening the weekly has that same signal triggered here uh price moving higher toward less relative energy if we were to see a bearish reversal candle then that would be a you know a top that could take price back even to 4544 that's on the weekly time frame but but we have to wait for that to form and and there's no indication that that's going to happen at this stage here and the daily chart also has that roads momentum indicator signal so that's really the area to focus on if there were to be a bearish reversal candle then we probably get back to 51 54 maybe it's lower out there but um yeah this thing is uh this thing has done really well at holding profile levels it hasn't been below the bottom of a profile uh since september of last do i take that back there was one day it broke below the bottom of profile in december first but other than that it in next time was back in in september so really strong momentum i don't know if it's momentum stock a really strong stock out here so i don't know if i've confused you if i've answered anything for you um but no no i think you've asked a lot because like you say it looks like a very strong stock to me also but it's that uh you know you kind of get a little a little uh hesitant to i mean one of the nice things from my point of view is that it isn't like a rocket ship i mean it's been a nice low gradual it's had a you know had a shot there like february a year ago yes other than that it's just been slowly just rising and it has not really retracted it's just been a nice slow rise um i agree and i would have for you but it's not really a there's only uh the volume on it is not that terribly heavy and it's a younger company i guess and it's uh a smaller company that much if that's good or bad i mean i guess for a smaller float you know maybe it the things that go bad it could go bad quickly i'm not sure but it does not look like that's you know there at this moment well i mean it sounds like it sounds like you've been in for a while um and if that's the case uh you know you probably have some nice profits in it um i'd say until you get some type of really significant indication i think this thing has changed its trend you you stick with this okay and that's what i that's what i've been doing i just kind of get kind of antsy like you say nothing nothing goes forever you know but uh it definitely has been moving on right along here right so the one thing that you know so the antsy part the easiest way for me to help you with that antsy part is and not all stocks do this but you know during this show i take a look at certain patterns that when they present themselves they help us to identify that there is a top or at least a short-term top one of those is the rosium indicator signal well you need to bearish reversal again to confirm that until that happens you stay in the stock we're bar number three we're in bar number three of a td9 count um the last two td9 counts have worked they created a small hiccup kind of like you've identified out here just a very small retracement uh we're only in bar number three today so we're ways away from that um wave number seven would be another look on a daily timeframe i don't have that out here although i'd have to really do wave counts uh slightly different than what i've got shown here but i just don't see the signal i sell the d-point that also requires a bearish reversal candle so i think what you would do is look for a bearish reversal candle the other thing i would do is the oscillator and changeline on a daily basis is 53 46 you know the hair in their neck maybe would stand at price where to be below that level but i think you've got i think is i don't know where the top tick is and i know that's not your question i wish i knew where it was um it's easier for for me to let the market communicate what it's going to do and right now the communication is it still wants to move higher but we can't control what takes place a minute from now as you pointed out and so if you do get that bearish reversal candle then maybe at that stage is when you start taking a look at doing something else let's valuable information i appreciate that very much and just as the other callers had mentioned you know tom and you and the other fellas you really provide a wonderful service and uh you have to need to call in and talk about a stock is again another very very nice feature that uh you know that that's you that's offered and the various programs that you fellas offer are very valuable well that's great well i will reach out we're nothing without you so it all starts with you and uh jeff and uh and everybody else all the folks in tagistan so so thanks for being a valued listener here at tfnn and we'll look forward to speaking to you again you've got a unique voice i was able to pick i met that in a good way so i was able to pick up on it that uh yeah you bet you bet all right thanks for calling so uh folks uh just got a couple minutes before we go to a breakout here and let me just check the email to see if there are any questions that have come in certainly there's there's a couple at least uh this one coming in from hector wants to take a look at asml and he's interested in where is the asml he's interested in where is the oscillator and change line so uh for support and resistance so let's go take a look at azimil holdings out here and i'm going to put up the white background charts just to answer that question so it's 750 to 40 on the daily time frame so this did generate a td9 count bottom three days ago uh your preference would be for this to remain above that oscillator and change line if it closed below 752 42 today and you're looking for a possible uh possible buy the d-point for so forget the buy the d-point you've got a valid td9 count out here now i'm just going to go back to the black background chart just curious what its volume metric is today on its pullback versus that swing point that td9 count which it hasn't hit or anything but just what is it doing in relationship to that so it made it slow back on the trading day of november i was our january 11th volume there was 2.1 million shares you're pulling back today with less than half that volume out there now that's so so what i would do here because it's below the oscillator and change line trading into a bowler structured profile and you're looking for an entry point i will go look at the monthly chart as well but on a daily chart this would suggest around 730 31 so the high of that swing point is 731 44 that's a january 11th area um so you know maybe tomorrow if this does pull back further it should if it closed below the oscillator and change line you know look at that swing point volume it could be 710 58 could be 730 31 but that would be the range that you're in this has an average daily movement of 26 bucks so your stop vector should be 26 dollars times 1.618 that's going to be a pretty wide stop out there and what's cool about that is you can get in here if you get a close below that td9 count you just simply that it will negate that pattern you exit it you exit the trade you're just using this for position sizing so hope that helps y'all with regard to asml during the break i'll look at the monthly and weekly chart see if there's anything else there we'll be right back sharpening your skills as an investor is like getting better at playing a musical instrument you have to practice sure but you also need excellent instruction from experts at tfnn you'll get advice and guidance from the authority and technical market analysis and it's not just dry tedious text either 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volume of 6.1 million shares it's only thursday and your 6.1 million shares so it's kind of pushing back with volume it's you know it's held that swing point low but it kind of is suggestive that next week we could see this thing pulled back further now prices held the top of the monthly profile of course we're only 13 days into the actual calendar month out here so and i don't want to be confusing to you but the message here in asml holdings is a bit confusing to me so here's what you know it's got a valo td9 count bottom it hits resistance today fails and pulls back that's at 769 76 let this thing get into that swing point from a couple of days ago if it's got the right volume metrics and it holds 7 10 58 you know you can fire away for some type of trade out there and you may find resistance again at 769 76 so i hope that helps you out thanks much for writing in it looks like our last question out here is going to go for john and philly and since i had invoked his name earlier you want to take a look at bhp and right now i've got the weekly time frame chart up on our screen it looks very positive it is only in bar number seven uh it's again looks like to me that it wants to continue to move higher on the daily time frame out here you've gapped up you gapped up yesterday a couple yeah yesterday uh it took out yesterday's gap up took out his td9 count top did it in one day this says strong momentum to the upside so kind of get back to rich's question he was looking for strong momentum stocks well at this stage here bhp fits that category for me by forming a td9 count and just simply ignoring it so this suggested it wants to add higher yeah you're headed into that wall of worry of uh where this thing is gapped down to the downside but this looks pretty strong when i take a look at the daily time frame chart the monthly price is above the top of its monthly profile and now the green ox that are in change line john this says that this wants to try to get back into the 80-ish type range out there so folks thanks so much for joining us today stay tuned you got two more great hours left i'll be back with you tomorrow morning at eight a.m sharp friday morning eight a.m please join me live if you can if not uh we'll certainly make sure the show is pertinent for the one o'clock time frame have a terrific thursday hopefully we'll see you tomorrow folks