 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 morning folks, welcome to the October 27th, the fantastic Friday 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's having a great day Hey, let's make sure we have an extraordinary one. Now the easiest way to do that Well, it's 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 shifter means we can find the gift in every set of circumstance that life is gonna Toss at us. Now today you and I we're gonna go check on the circumstance of these markets We'll go figure out what those bulls and bears what those buyers and sellers are communicating to you and I at Just past 11 o'clock in the morning. I want you to know I'm absolutely grateful for your presence here But even more important than that and that's this during this next 53 minutes. I'm here to serve you So feel free to pick up that phone dial on it at 877-927-6648 Now if you've got a question, but you can't dial in you can send me an email Send that up early and send that to Steve at tfn.com and inside the subject I mean, please put radio show question now if you're inside your tires Then well then any in every ping will do so let's go ahead and get this show started on Fantastic Friday, of course, this is Tiger financial news network. I'm Steve Rhodes. Welcome to the show right now We got a mixed bag. We take a look at what's going on in the US indices You get the Dow off 62 the Brussels down nine New York Stock exchange is off 65 But the S&P is up 12 the Nasdaq's up 165 the semizer up 47 Trendy's up 29 gold is off 5 bucks with silver being flat lights recruit is up 77 cents natural gas up six pennies The 30 Treasury back 13 ticks trade out at 109 15 lead the charge to the upside It is Chipotle up 133 bucks. That's a 7% move Decker's Outdoor a 20% move 97 bucks for Bion European Acquisition 124 percent move that's 22 bucks. We got some movers out there Mercado Libre's up about just a mere 1.7 percent for it That would be about $20 and app folios up 19 bucks. That's a 10% move there The shakers to the downside kinsale capital group 69 buck Rooney 16 percent chart industry is down 21 bucks $29 21% SIA the freight company of 24 bucks 6 percent charter communications down 25 6 percent Bio rad laboratory six and a half percent a 19 dollar move there. Let's start with Let's start with let's start with what's going on from a daily perspective out here So from a daily perspective, let's switch over to my white background charts will be there momentarily We'll start by take a look at the daily equity future contracts. We've got the ES mini upper left-hand side What do we know about it as long as price close below the close of bar number five? It's going to confirm a TD nine-count bottom pattern now that bottom might not form until Monday The low can form on the bar following bar number nine if we take a look at what else is out here You've got wave number seven that needs a higher or low if price does not tick below yesterday's low at 41 4625 so far we've been down only 41 49 that will confirm a wave number seven bottom And then finally if there's a bullish reversal candle that were to form by days in you would have a roadsman Diminicator bottom of this having three bottoms better than two better than one not that I've been able to experience out there But you do what the market is telling us at least with regard to the technical indicators is the ES mini S&P 500 is absolutely trying to put in some type of bottom now that bottom could just lead to a two to three to four Day rally or could be something of more significance in the case of the NQ The NQ is going to confirm a TD nine-count bottom pattern today. That is as long as price closes below bar number five Bar number fives close inside the NQ is up at the 14,000 712 area if we were to see a bullish reversal candle at days And then we would get a buy the d-point pattern as well We take a look at the Dow the Dow does not have a bottoming pattern yet Or any kind of confirmation it does have in fact a negated It's by the d-point pattern yesterday price is moving lower doing less relative energy out there And those are the types of bottoms really the roadsman Diminicator bottom Those are the types that you really like to see get confirmed out there because they you know picture this picture being in a pool Taking that ball, you know stepping on it. You're putting on your feet trying to push down You can only hold on to it for so long before what happens pops out of the water Well, that's next since what the roadsman Diminicator signals to the top end to the bottom do out here So what's needed inside the Dow is a bullish reversal candle and that would confirm that pattern It's only in day number seven or bar number seven of a TD nine-count So the earliest we'd see a bottom there would be between Monday and Wednesday of next week and the Russell 2000 It completed a TD nine-count bottom pattern two days ago and if price closed below that low that low by the way the close of that bar was 1660 90 we're trading below that as we speak right now if we close below that that pattern gets negated out there and then that would Have to make us say hmm something to think about Likewise if in fact by day Zen that pattern holds we've got to say hmm something to think about what's most important with regard to the Russell 2000 and this is probably Potentially a key to the market decision here whether markets getting ready to move higher or not would be if we get that Russell 2000 to close above that red oscillator and change line currently printed 1675 30 that would go a long way to saying okay We're getting ready for at least a short term change in trend out there So that's what's going on We take a look at the equity future contracts if we go take a look at the indices out here and let's go do that We'll go give me a moment here that's something else going to pop up on the screen, but we'll get to the indices momentarily Cash indices that is let's take a look where the Stevie have those they should be right here Okay, so now in the what the heck okay in the upper left hand corner You've got the Dow Jones industrial average the cash indices you see basically the same type of pattern here You see a rose momentum indicator signal this needs a bullish reversal candle right now. It says it's a hammer candle We don't know what that's going to be at day Zen, but if it did generate some type of bullish reversal candle I would confirm a rose momentum indicator bottom That would tell us that price should at least get up to 33 025 we take a look at the S&P 500 much like the ES mini wave number seven yesterday Bar number eight yesterday TD 9 count likely to form today complete on Monday the NDX 100 the same pattern out there Likely to complete confirm today complete on Monday There are also 2000 cash indices out there in order to maintain its It's a TD 9 count bottom price must close above 1651 40 now what happens if it doesn't well if it doesn't it gets negated loses bottom signal But it still has that rose bit the indicator Patterns out there and so what that would then require would be a bullish reversal candle to confirm that bottom if you're looking the semis out here They already completed their TD 9 count bottom yesterday as long as price is not closed below yesterday's low Yesterday's low for the semiconductor index was 31 73 55 as long as that does not take place We should see price move up to 33 0 1 that is it's red oscillator and change line to transports also Completing a TD 9 count bottom pattern yesterday price should rally up towards 14 128 we take a look at that composite just like the NDX 100 should complete or should confirm a TD 9 count bottom today Should complete that pattern on Monday and lastly the New York stock exchange It is in bar number 8 has a rose mcdom indicator signal triggered that needs a bullish reversal candle But you should get a TD 9 count bottom between today and Tuesday of next week out there Steve Rhodes with TF and then we've got a couple questions that have come in one from Scott in Colorado Springs Question is the implications of the ES negating its weekly currently by pattern and Mary Joe wants to take a good She knows goals will be higher and their question is will the equities follow and that John wants to take a look at late sweet crude We'll be right back Currencies commodities and bond markets are as important as ever right now with how they're driving the volatility in equity markets across the globe Which is why it's a great time to try out Teddy keg stats Tiger 4x report Teddy keg stat breaks down the 4x markets every Monday using his 30 plus years of experience as a trading veteran of futures 4x stocks and options Teddy releases his weekly Tiger 4x report every Monday morning with coverage of all the major currency pairs Including the dollar index the euro dollar pound dollar dollar Swiss Yen as well as many more and he also has weekly coverage of the crude oil market and the 30-year t-bonds as they both influence 4x markets tremendously when you sign up for the Tiger 4x report You also gain instant access to Teddy 60 minute webinar archive He just hosted 4x strategies and fundamentals What is behind the Tiger 4x report for all the details and to start your 30-day Tiger 4x report subscription today? Visit the front page of TFNN comm TFNN educating investors You might think that if you want to be successful at trading in the stock market You're going to need a crystal ball after all it's impossible to predict the future, right? Like any endeavor in life before you decide it's impossible get some advice from the experts You might find that it's not so impossible after all for daily market Overviews that give you direction on the key indices selective stocks and commodities Subscribe to the opening call newsletter at TFNN comm The opening call newsletter is written by Basil Chapman Creator of the trading methodology known as the Chapman wave The Chapman wave up-down sequence gives you an edge in identifying price turns Finding the peaks and valleys and stock prices get the opening call newsletter by Basil Chapman in your inbox every day First time subscribers also get a 30-day money back guarantee If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up TFNN comm educating investors Steve Rhodes started his trading career as a student almost 20 years ago and the student has now become the master Steve won the prestigious timer of the year award in 2018 and barely missed that mark again in 2019 Finishing it number two for the year an amazing accomplishment Steve Rhodes 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 toll-free at 1-877-927-6648 internationally at 727-873-7618 Folks so the low for the day is very much likely in inside the NQ out here and Earlier this morning in the den I posted this set of charts here was the 10-minute charts and in essence I think what I said was it may be That the clue as to whether the markets are going to continue their rally today or not Maybe just be simply coming from the 10-minute time frame chart and the reason is is because each of them Well, not each of them the ES the end to and they're also 2000 Each rallied right up in their TD 9 count breakdown resistance levels Let me pull this thing down here just a little bit inside the ES minutes 41 78 25 That's the level to be watching today if we get Bellies to consecutive closes above that level on a 30-minute basis, although I can't guarantee it I pretty much guarantee that the market's gonna rally into the close today if we take a look at the Russell 2000 That number to be looking at is 1689 50 and inside the Dow be 32 925 now We don't have synergy just yet We only have the NQ that is breaking out above those levels out there and it really needs the others to participate But the NQ can do and right now is doing all the heavy lifting out there Watch those other numbers out there those TD 9 count breakdown resistance levels You're probably able to close above that odds favor that we continue a rally into the I don't know I'm not saying that we're not gonna soften the last 15 or 20 minutes or something like that But it does look like we would rally going into the close out there another thing that you and I can do is Where's the DAX trading right now? Does anybody know we probably should pay attention to that now? I believe the DAX is close to the 1130 I should know that out the top my head But we want to see let's see is the DAX or the DAX is trading lower So that's not giving us a great indication Just simply because of the directional correlation that exists between the DAX and the NQ out there But still the DAX is still open for a bit. So take a look at it I know I'm not showing you that on my charts right here right now. So let's do this Let's let's go first what there's really two questions have come in dealing with sort of the same types of things So Scott in Colorado Springs yesterday asked the question on the ES mini if it negates its Gartley by pattern What are those implications? So what he's referring to here is the bottom chart here a weekly type of impact What I'll do is I'll just simply expand this out and what we can see here So every a to b equals CD pattern whether send this to the downside The way that I do it the way that I believe that everybody should do it is the way that those patterns get confirmed Is with a bullish reversal candle? So you need to learn those but it's very simple You can only you only really need to learn seven of those candles once you learn those seven You have the exact opposite the bearish reversal candles out there and here we can see that the yes Many made more than a one-to-one a to b equal CD it formed a bullish hammer candle Let me get my cursor out here It formed that bullish hammer candle the week of October 6 now that low is an important low out there And that's at 42 35 50 and the Scott was basically saying if price closed below that what are the implications out here? So the first implication would be that if price closed below it, but it's still above 41 94 75 And that's a key area of potential support. That is where price had broken out from so I would say that today The more important level to be watching is 41 94 75 does price close below that level if it does Scott What that tells us and I can go over to another chart out here and take a look at the my other system We can do the a to b equal CD patterns to give your price projections And I'll do that I'm just not going to do that at this second now What I've got up here on this said on this set of charts here I've got that basically the three primary instruments that you and I could look at to determine what the S&P 500 is doing We just looked at the yes many now. We already covered the yes many for the daily time frame next to that We've got the cash indices and the next that we've got the spy So and we really want to go ahead Scott and put both of all three of these really together because what you and I are Always searching for it wasn't your real question. What are the implications of the pattern gets negated? Where's the next support level? I really think that's what the question was because that's what we would be looking for All right We're always trying to identify first thing we're trying to identify on any chart is where support and resistance On my charts that we take a look at we've got two tools for that really we've got three tools. We've got Well, we've got the the two prime way that three tools would be the market profiles Anybody can get access to that information out there. So that's one way the oscillator and change line shoot That's a fairly easy thing to program on your system out there And I give you the the the directions on in essence how to do that what that Tools all about then you've got the teeny nine count break out and break down resistance Those those are the three things that are going to provide us Information as to where the buyers and sellers reside surely. There's other things out there But for our show here that we do those are the things that we focus on so back to that In the case of the S&P 500 what we see out here. Scott is on its weekly chart It did not complete a Gartley by pattern It was only the bullish reversal candle that took place on the ES mini out here No, the great question would be do they all three have to be in agreement and the answer to that is no They do not one can simply one can trigger the rest of the move to the to the upside to the downside But still here with regard to the S&P 500 in the cash-in to see whereas the ES mini Could close below breakout support in order at 41 94 75 the weekly chart for the cash-in to see would need to close below 4103 98 before we would say it's curtains No, I'm not done just kidding on the curtains piece of it if we take a look at the S&P 500 That's by the spy on a weekly basis. It did generate a bullish reversal candle It was a bullish engulfing its key levels board is 409 88 So what are the implications the implications are that when a bottoming pattern fails You got to find the next bottoming pattern and you want to be able to identify Where the support area is so let's switch over to my other set of charts out here Let's take a look at those a to b equal CD patterns out here so I can provide you Scott With with price projection before I switch panels though There was a question that came in from John and John was saying he had heard me say before in the past That bear markets will not start unless there is a roads momentum indicator top and John you said on that weekly time frame Let me clear that up. It can be the daily the weekly or the monthly time frame It does not have to be just the weekly time frame. So when those signals are present We most certainly want to take a look at those with regard to the ES mini for its daily time frame out there It was a roadsman Indicator signal at the top from a weekly standpoint. We take a look at the ES mid the S&P 500 for its daily time frame It was a roadsman to mitigate our top. We did not have those tops on the weekly time frame So that top is in place. Now. How did I come up with that? Oh, I assume we're watching You make sure we're still on those charts. Yeah, we are okay. Good. So we're still on those charts And how did I come up with that? I really came up with that. I was I'll tell you how I came up with it I had done a tremendous amount of research on every celestial aspect that I that was inside the new American Ephemeris I digitized that so I've got 300 years worth of data Some going back 200 years and some going back and then going forward another hundred years or so and And I was looking for a consistent signal that identified tops and bottoms whether it was Mercury retrograde You know, whatever it was out there. I did discover One thing that was consistent was was apogee and perigee But what it led me to was identifying this pattern and this pattern that rose meant a indicator signal was present for Every bear market that started inside the dial going back to 1896 every single one of them It was present either for a daily a weekly or a monthly time frame And so that's where that comes from John now. Does that mean that every rose meant a indicator signal creates a bear market? Absolutely not that's not what it means It means when it's present though, you should really be careful. So we get back to this break Let's go take away the a to b will see the price projection levels try to finish answering Scott's question out there I think I've covered your question John But if not, let me know and we'll we'll answer that question Steve Rhodes with Tf&N. We'll be right back the gold report as A precious metal gold is still king It continues to hold the most effective safe haven and hedging properties across the global major trading hubs of the London OTC market the u.s. Futures market and the Shanghai gold exchange the gold report Tom O'Brien publishes his weekly gold report every Monday morning for subscribers consisting of coverage of the XAU HUI gdx the dollar bonds the South African rand as well as 25 different mining equities with specific buy-sell recommendations The gold report New subscribers get a 30-day money back guarantee. So you have nothing to risk Subscribe to Tom O'Brien's gold report newsletter now at tfnn.com 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 Tfnn airs live financial content streamed live on tfnn.com and tfnn's YouTube channel with Tiger TV Live every market day from 8 30 a.m. To 4 p.m. Eastern for free Each host is an experienced trader and gives their take on the market while taking call 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 tfn and educating investors Tfnn has just launched their new trading room the Tigers in hosted at discord Tfnn has been educating traders for more than 20 years with live programming hosted by a variety of professional traders during market hours And now they are expanding their reach with the Tigers den available to all Tigers and Tigris's for just one dollar for the year There's no cash or added costs when you join our community of traders in the Tigers den You can look over the shoulders of Tom O'Brien and the other tfnn hosts while they analyze charts during their live Tiger TV Programs and join an interactive trading community with hundreds of members exchanging ideas interact with other Tigers and Tigris's as they share trading ideas news analysis and discuss the market action all trading day Even at night and on the weekends the Tigers den at discord is accessible on mobile or tablets as well So it's always at your reach to sign up today and become a part of this educational community of traders Just visit the front page of tfnn.com 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 tfn.com then hit watch Tiger TV Welcome my back up folks. We're still looking at my white background screen I went and switched over to the continuous contract here just simply so that could take a look and see if there were any other CD9 count breakout levels that we would be looking at next and the answer there is no this old one out here 3932 That already has been in essence utilized out here So so the next areas that I'd be looking at before we go take a look at the a to b equals CD levels So Scott I'd be looking at the swing points. So that swing point right out here from March of 17 That's anywhere between that range of 3932 and 4102 and then I'd move in a price moves below that swing point That would be this next swing point out here from October 14 So that would be that first implication now Let's move from this set of charts here over to the black background because we also want to take a look at the A to B equals CD patterns So in a moment, we'll see the black background You'll see the weekly time frame chart for the ES many out here and and this is actually the December contract Which is great because now I can give you real price levels to watch So we can see that a close below this hammer candle it's a week of that began October the second That would negate that by the D point up pattern out there that Gartley buy pattern And right now the next price target area is the one to 1.618 a to B equals CD level And that's at 41 32 now we've already been down to a low 41 46 But that would be the next area now be what we would be looking for here for a bottom on a weekly time frame chart Would be another bullish reversal candle or some other pattern out there And I don't believe there was any other pattern Well, this is going to be bar number week number bar number six So you're looking at that two to four more weeks out there Before that type of pattern could form on a weekly basis So it would be these a to b equal CDs below that would be 40 22 50 now Let me give you those levels for the spy and the s actually let me do it for the s and p 500 first so s b x I think Let's get the weekly out here and that a to b equals CD pattern It's going to look like this now remember inside the cash-indice see it has not broken through It has not broken through It's a TD 9 cal breakout level that was at 4103 if I have my recollection is correct 4101 happens be the 1 to 1.618 area So watch for that area inside the cash-indice see to be a strong level of support a price closer below that well Then the next price target area becomes 39 97 and again on a weekly basis the s and p cash-indice We need to generate a bullish reversal candle. Let's finish it off for scott I take a look at the spies out here really for everybody else. So as we take a look at the a to b equal CD pattern here for the spy That's going to give us a price projection of drumroll Johnny That's also near its 1.618 level 41091 and was 409 88 that was the breakout level for the for the spy out there So let's call it the 409 88 level that's going to be real key now pulling back to a breakout level can be a bottom Doesn't necessarily have to have a TD 9 go doesn't have to have a Gartley buy doesn't have to have a wave number 7 out there So it can be a bottom and it's worth noting of course if it's going to be a bottom You're going to see intraday charts like 10 minute 30 minute 60 minute and so forth Give you confirmed bottoming signals with price moving above Resistance levels out there. So scott. I hope that helped answer your question and John you said that did answer your question as well. So thank you very much for those requests out there Let's go to our next request which is from Mary Joe and Mary Joe is asking the question good question It's basically I'm paraphrasing here. It says gold has been moving higher in essence. Will the equities follow such a great question So first, let's take a good gold silver and the mining equities the way we're looking at the mining equities here Mary Joe is via the gdx. So I don't know if it's a specific individual Mine and equity or I think it did have it plural So I think it was the gdx in essence that you're referring to so here's what we first know Well one we know that gold bottomed on October the fourth out there That's when it completed that TD nine count bottom pattern with regard to silver We'll get my cursor out here it also bottomed with a TD nine count on now This confirmed a TD nine count pattern It really did bottom with it on the fifth of the fourth of the fourth of October as well It didn't really complete that pattern until the sixth but still it was the fourth and the TD nine count for the gdx also on the fourth So that's an important thing and that's important to note because that says we've had 16 trading sessions Since the lows in the mining equities inside of gold and inside of silver out there So let's remember that because we're going to go back and we're going to see what that actually means because here We can see now. We've got tops in each of these. Well, we you don't see the charts Stevie Stevie Stevie, thank you rye. Thank you very much for being my wingman Thank you. Let's go back here So here if we take a look at these sorry for the little bit of the repeat No, thank you for letting me know that uh, you're paying attention Stevie was not October 4th Is the date that is synonymous synonymous with regard to bottoms forming for gold silver and the gdx 16 trading sessions ago Now each of these on a daily basis one on each of them the gold has got a TD nine count top And that says that price has to close above that high that high being 2009 20 For a price to continue moving to the upside to tell us that it's breaking out and getting ready to rally further Right now what we have is price trading with inside its profile levels resistance there Mary joe 1996 and support at 1990 80 is also supported eight 1962 10 That's its green oscillator and change line on the daily time frame for the es mini Consolidated with inside its profile. It's tested in essence the bottom and the top So it's a real consolidation out here. It does not have a topping pattern What it's waiting for is for gold to be on its merry way or at least for price to break out above 2330 and finally gdx it completed a TD nine count topic complete that pattern on October 19th Price that what the gdx actually needs out here is a bullish reversal candle and that'll confirm a garly by pattern But mary joe's question was Gold's been moving higher. But the when will the equities follow? So for that we're going to go back to my black background screen out here And this is the key out here the key was everything bottom october 4th And so what we want to really take a look at is what are the rates of change? And that's what this chart here or this set of data is going to provide for so up at the top We've got gold below that. We've got the gdx. In fact, let me just put up the silver contract as well Uh z 23 It'll fill that data in now here the most important thing to be paying attention to mary joe Is what is referred to as the rate of change that is column number three out there And this has taken us back those 16 trading sessions So gold bottom and since then it's got an 8.6 percent rate of change Well the gdx bottom back then it's got an 8.5 percent So the mining equities have been following about the directional correlation The mining equities have been following along. That's why I question my mind Maybe it was a specific mining equity that you were looking at and that would be different than the general complex out here And if we take a look at silver, silver is up by 8.7 percent as well So they've all done a similar rate of change. Is that good news or bad news? For the mining sector That's bad news It's kind of indicating to you and I that we could anticipate A move lower inside of gold silver and the gdx more than what we've seen so far with those tops in place out there What do I mean? I mean folks do this on your own do the research I'm giving you the clues here Do this on your own and find out what i'm about to share with you and that is this Go back and find another bottom significant bottom significant rallies and find that bottom inside of gold And find that same bottom inside of the gdx and look at the rates of change as you can go figure out where it moved up to Before it topped out and figure out how many trading days were there What you're going to find out when gold is really rallying The mining equities are going to have substantially larger rates of change like three to one four to one In him right now if this i'm not saying the move is not real this move is emotional versus real real out there So that's uh, but the mining equities mary joe they've been moving in concert with gold and silver steve rhodes with tfnn will be right back You might think that if you want to be successful at trading in the stock market You're going to need a crystal ball after all it's impossible to predict the future, right? Like any endeavor in life before you decide it's impossible get some advice from the experts You might find that it's not so impossible after all for daily market overviews that give you direction on the key Indices selective stocks and commodities subscribe to the opening call newsletter at tfnn.com The opening call newsletter is written by basal chapman creator of the trading methodology known as the chapman wave The chapman wave up down sequence gives you an edge in identifying price turns finding the peaks and valleys and stock prices Get the opening call newsletter by basal chapman in your inbox every day First time subscribers also get a 30 day money back guarantee If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up Educating investors Everything in the universe is governed by the fibonacci sequence This mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market To stay on top of stock patterns You can take advantage of sign up for the fibonacci 24 7 newsletter at tfnn.com When you subscribe You'll get a weekly report from veteran day trader larry pesavento on stocks You need to pay attention to and you can trust larry's analysis After all he's got 45 years experience as a day trader larry will also provide daily charts Videos and data on the key markets that he's tracking Expect notifications from larry on market movement. You need to act on at any time First time subscribers also get a 30 day money back guarantee If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up Subscribe to the fibonacci 24 7 newsletter today tfnn.com educating investors Are china a shares hot or not? If you trade china a shares now may be time to take a closer look Trade chau or chad Directions daily csi 300 china a share bull and bear etf's china a shares in either direction Visit direction investments.com 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 eight six six four seven six seven five two three 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 This program is brought to you by vista gold traded on the nyse american and tsx under the symbol vgz So let's get we've got a couple callers on the line. Let's get to them. The first is uh sue in Bethesda, marilin Sue thanks for holding so much and thanks for calling. How can I help you today? And how are you today? Thank you so much Yeah, I was kidding that the one that I asked you before Yes, I'm still keeping it S o m yep. Yep. Yep. Yep. That's on mobile. Yeah, okay So uh, so you're still in it and it still has a bottoming pattern It's the day of so the day that you really want to watch out here is october the 11th October the 11th is both a daily swing point Volume there on that trading day was 57 million. You've done 10 million today. You're pulling back into it That says it maybe does 30 million So what x on mobile is doing is pulling into a prior swing point With lighter volume. No It has not tested that the bottom And the real rejection would be either testing that low Or closing above that swing points high The low is that 104 83 and if a Tesla low gets down there, you want to see a close back above that that would be a true rejection Another rejection would be a close above 107 17 today on lighter volume So those would be the two things if you're watching this on tiger tv You can see two different trend lines one to the downside. That's the yellow one one to the upside That is the green one So price is also at a trend line level of support out there on the daily time frame if price were to close below That low that low from october 11th That would then trigger an a to b equal cd to the downside pattern now typically in order to Typically you're looking to you're as trying to ask the question Is it passing that b point with volume if we were to close below today? At least at this stage again, we'd have to say the answer is no Does it mean that it won't fulfill that a to b equal cd to the downside? It doesn't mean that either but if it does pass it with volume What it does do is it adds the evidence of a further move lower now If price were to close below 104 83 Then your next downside price projection level would be at 9809 again I'm not saying that's what it's going to do right now Because you still have that swing point price is trading into with lighter volume That's also a td9 cowl bottom. That was bar number eight there So that's really the level to be watching inside of exxon mobile And again, if we get a close blow 104 83 I've got two areas where I would tell you price would head to the first is that 9809 That's that one to one a to b equal cd price projection on the daily time frame The second level that I would use would be 100.16 And since you have been in exxon mobile for so long And since it has been basically consolidating sideways ever since it really broke out back in october of 2022 What I would do is I wouldn't close out that trade now unless it closed below 100.16 and 100.16 happens to be the bottom of its monthly profile This may be that you are just simply in a consolidation So uh go ahead Okay, one one oh one one six watching that level One zero zero one six one zero zero one six But right now Today, uh, don't don't add anything on it or just wait see That there's support level 104 83 first And that's that's a great question too. Yeah, I don't I wouldn't I wouldn't be adding to it just yet because Right now what you and I are looking at is will support levels hold and I know that I don't know the answer to that We're at support levels. We've at least been able to identify those both trend line support a td9 account and a swing point So we've done our analysis there, but is that time for you to add to this position? You know, if we're in a winning winning position, I'd be more inclined to do that I don't want you to add just yet because we don't have what I would call a clear bottom What we have is price testing support and so far it's holding. Okay Okay That's that's why I said And and 100 I think that's a button. Okay. Okay. I'll really be sure that how do how do uh, uh oil market doing Right oil market. Yeah, so the oil market Yeah, good good question there So the the oil market is is doing pretty well But it's also in kind of a sideways consolidation Which is trading between support and resistance and the only way that um, the only way that so oil Where we'd have bad news from oil would be a close below 78 51 Right now the price is likely not to get down there, but it could but right now It's got a strong supporter between 81 43 and 83 88 That's the real strong support level if that fails meaning a close below 81 43 We're going to likely see 78 51 and if we get a close below 78 51 that's telling us and Lights we crude is forming an aid or has formed an a to b equal cd to the downside So it's just kind of traveling sideways sort of like exxon mobile But I like the setup on lights we crew better than the exxon mobile trade right now But right now, uh, don't add just hold and uh, let's uh, I'm gonna say a prayer for you that support holds Okay, thanks so much Wonderful. Thanks so much My pleasure that was sue and Bethesda, Maryland Ray in Sarasota has also been holding a long time Ray Thanks much for doing that. How are you today? Doing well doing well. Excellent. Got a question on the nat nordic american tankers. Okay. Tell me what you're doing how I Did your opinion on where it's going? Uh, it's cleared all of them to uh, June of 2020 at this point Yeah, so where's it going? You know the answer to that, right? It's going to 868 And you're at 474 right now. How's that sound? That was pretty good It's okay. Well, I'll tell you how I came up with that right now what we see here And I'm just looking at the black background chart. So I'm still on those screens here But I'll I'll just interpret it and that is that on this month the month of uh, march of 2023 That was a TD nine count top When you get a top price pulls back to support Well, the support level that this pulled back to was the top of the monthly profile and that held And that's a very bullish signal out there Now if on the 31st I know that's the end of october, but is that a trading day? I think that it is if at the end of the month Nordic american tankers closes above 465 and you're 475 right now That's going to tell us that price wants to get back to its TD nine count breakdown level on the monthly time frame That's over time. It doesn't happen overnight and that level is 868 I know you don't see it on my charts right now But that level is 868 if we look at a weekly time frame chart for nordic american tankers Let me pull this back just a tad Um Yeah, I mean there's large a to b equal cd to the upside out here that will probably give us something similar So if we take a look at that pattern the large one We start down at the lowest looks like it maybe was january 2022 We come all the way up to this high out here in march of 2023 The retracement low was on the week of may 1st of 2023 And that one-to-one price objective gets us to the 651 level So it helps, you know, it's in that one-to-one point two seven two seven 39 Now the swing point that it's dealing with on a monthly basis Ray had 20 million shares. You're at 19.6 today So you're going to get a confirmed a to b equal cd So long as price closed above that 465 level that was the weekly chart that we're looking at That's also the same swing point high for the monthly time frame and on a daily A chart I don't see any kind of a topping signal. So nordic american tankers. It's on fire I don't just doesn't mean that it won't pull back or anything those pullbacks in fact the The the 130 minute time frame chart there are 330 minute bars in a day's trading out here And it as we speak right now is completing a td9 count top And that says that ray by about 11 well About right now you could start seeing nordic american takers pull back and it could pull back to the 456 level Now I know we're going to break if you have another question on this feel free to hold if not have a fantastic weekend All righty Thanks, you bet. You bet. That's ray in Sarasota. We'll be right back Currencies commodities and bond markets are as important as ever right now with how they're driving the volatility in equity markets across the globe Which is why it's a great time to try out teddy keg stats tiger 4x report Teddy keg stat breaks down the 4x markets every monday using his 30 plus years of experience as a trading veteran of futures 4x stocks and options Teddy releases his weekly tiger 4x report every monday morning with coverage of all the major currency pairs including the dollar index The euro dollar pound dollar dollar swiss Dollar yen as well as many more and he also has weekly coverage of the crude oil market and the 30 year t bonds as they both Influence 4x markets tremendously when you sign up for the tiger 4x report You also gain instant access to teddy 60 minute webinar archive. He just hosted forex strategies and fundamentals What is behind the tiger 4x report for all the details and to start your 30 day tiger 4x report subscription today? Visit the front page of tfnn.com tfnn educating investors You might think that if you want to be successful at trading in the stock market You're going to need a crystal ball after all it's impossible to predict the future, right? Like any endeavor in life before you decide it's impossible get some advice from the experts You might find that it's not so impossible after all for daily market overviews that give you direction on the key indices selective stocks and commodities Subscribe to the opening call newsletter at tfnn.com The opening call newsletter is written by basil chapman creator of the trading methodology known as the chapman wave The chapman wave up down sequence gives you an edge in identifying price turns Finding the peaks and valleys in stock prices get the opening call newsletter by basil chapman and your inbox every day First time subscribers also get a 30 day money back guarantee If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up tfnn.com educating investors Everything in the universe is governed by the fibonacci sequence This mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market To stay on top of stock patterns You can take advantage of sign up for the fibonacci 24 7 newsletter at tfnn.com When you subscribe you'll get a weekly report from veteran day trader larry pesavento on stocks You need to pay attention to and you can trust larry's analysis After all, he's got 45 years experience as a day trader larry will also provide daily charts videos And data on the key markets that he's tracking expect notifications from larry on market movement You need to act on at any time first time subscribers also get a 30 day money back guarantee If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up Subscribe to the fibonacci 24 7 newsletter today tfnn.com educating investors Tfnn has launched the tiger's den hosted at discord Tfnn has been educating traders for more than 20 years with live programming hosted by a variety of professional traders during market hours The tiger's den available to all tigers and tigers for just one dollar for the year There's no catch or added costs when you join our community of traders Sign up today to become a part of this educational community of traders. Just visit the front page of tfnn.com Good back folks. Let's try to cruise through a few tests out here with regard to the semi conductor index. Oh, do we have another caller? Well, hold on a minute here We do have another caller. It's roberting kansas robert. Thanks for calling. Thanks for holding. How are you today? Yeah, i'm doing great steve. Thanks for taking my call. I'll make it my pleasure because I know you have a limited amount of time I do. So can you take a look at x l re and x Rt and just kind of give me the thumbs up for a thumbs down for a Long trade and keep in mind i'm an active investor. I don't do day trading. So I look at usually a day Um a day or weekly chart Sure. So the x l re the real estate sector did form a rogment and indicator bottom yesterday What you'd really like to see here though is a close above the center of its bullish structured profile And right now i've got a trading below it. You'd like to see a close above 32 89 You don't want to see a close below 32 63 if you get a close below 32 63 It's going to go retarget and test that swing point from october 25th The volume there was 8.4 million shares today. You've done 3.7 So price is starting to move lower But you do have a successful bottom inside of the x l re on the daily time frame your next level of resistance The upside would be 33 67 with regard to x r t the retail Uh etf sector in the s and p 500 is going to take a moment for these charts to populate We'll try to hang on here. Uh the music is going to start playing in about 10 seconds But we'll they'll keep that music low for a little bit. So with regard to the x r t The x r t is just trading in a sideways consolidation right now. Your support area is 50 a 12 and resistance to 59 33 If you're asking me, which are the two charts? So I like better I'd have to say it'd be the x l re based upon its signals as we speak right now Robert, thanks so much. Give me a call back on monday We can take a look at these in further detail if you'd like and thanks for calling and you have a fantastic weekend Everybody else out there. You do the same have a fabulous friday fantastic weekend. I'll see you on marvellous monday. Take care And thanks for joining us today folks