 The following 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 morning folks, welcome to the August 15th, the terrific Tuesday edition of today's Trader's Edge show. I'm your host Steve Perseverance Rhodes who absolutely knows that each of us should always be pioneers of our future versus prisoners of our past. Hope everyone out there is having a great day and let's make sure we have an extraordinary one. Now the easiest way to do that is to always remember that life is happening for us, not to us. That's right, when you and I make that one little two by four shift it means we can find the gift. In every set of circumstance that life is going to toss at us. Now today you and I are 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 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 am here to serve you. So feel free to pick up that phone, dial on in at 877-927-6648. Now if you've got a question but you can't dial in, you can always send me an email. Send that early and send it off to Steve at TFNN.com. And inside the subject dating, please put radio show question. Of course if you're inside our Tigers Den, any ping will do. So let's go ahead and get this show started on terrific Tuesday. Of course this is Tiger, financial news network. I'm Steve Rhodes, welcome to the show. Right now we've got all the US indices trading to the downside. Dow's down by 257, about 710, 710 for the S&P or 33, 610 for the NASDAQ 100 or 100 points. 810 for the Russell, that's a 15 point move. A little less than 1% for the semis, a 33 point move there. Trendy's down a little over 1%, 188 points to the downside. Gold is off $3, with silver being down 2 cents. Lights we could is off $1.47. Natural gas is down 13 cents, so 30 treasures off 8 ticks. Printed out at $1, 2014. Leading to charge dollar wise the upside, you've got NVIDIA up 7 bucks. Altar beauty's up 4, that's about 1% for Altar. AMGEN's up 4 bucks, 1.6% Insulate Corp. About 1.5%, 3 bucks there. Novo and Nordisk up 3 bucks. 1.76% there. The leader to the downside in the clubhouse is Altasource Asset Manager. Down 22 bucks, 67% move. Doesn't sound like they've done a great job managing assets. See, limited ADS is down 15 bucks, that's a 28% move. Blackrock down 2%, 14 bucks for solar off 5.5%, nearly 12 bucks in Broadcom. Now 1 to 3%, 1 to 3.10%, that's off $11 runes out there. So, let's begin, let's begin, let's begin where? Let's begin, let's begin by going over to the white background charts. Oh, I tell you where we're going to, yeah, let's go. Now, let's begin by taking a look at gold. Now let's take a look at the, let's take a look at components, three of the components of the US dollar index. That's where we're going to begin the day here. So, let's start off there. So, here we've got the Euro US dollar. We're looking at the daily timeframe out there. What we can see here is that yesterday price negated by the D point bottom. That formed here back on the Three River Morning Star. That was basically around August the 3rd. Price closed below that pattern, negated it. However, today, if we get another bullish reversal, can you don't see the chart? Boy, you should see the chart. That's weird. Thank you. I'll do that again. Let's change the windows one more time. Thank you, Mr. Bill. Screens. I didn't change. That's wild. Okay, so now you should see the Euro. You got the daily timeframe at present. It doesn't really matter what's at present, but at least it shows you where we're at. At present, we've got a bullish piercing candle. If we get a bullish reversal candle today, piercing candle, bearish engulfing, whatever it might be, then it would confirm another buy the D point pattern. If that unfolds, just like the last buy the D point pattern, the price will go target that oscillator and change line. That's currently printed 1.09. So you could get, and this is 51%, 52% of the US dollar index. If we get that turn here in the Euro, regardless of the patterns in the US dollar index, we're likely to see a top in the US dollar. But that's just the Euro. So the Euro has got a potential for a bottom today. You want to pay attention to that. Let's look at the next currency out here from a waiting standpoint. Well, it wasn't really the Great British Pound. Let's take a look at it anyways. The Great British Pound formed a buy the D point pattern. When it formed this bullish engulfing candle back here on August the 4th. Now, what price did last night, or what did yesterday, was it tested and rejected that bottom out there. So this buy the D point pattern remains in effect. You know the old saying, if you can't bust them to the downside, price is going to bust them to the upside. So the pound right now is putting weakness in the dollar as it approaches its oscillator and change line. That's currently printed 1.27. What I can share with you, if price closes above that, the Great British Pound will rally further against the US dollar. If we take a look at the Japanese yen, I should have that chart. Here we go. The Japanese yen needs a bearish reversal candle to confirm a sell the D point pattern. Now, we may or may not get that today. But if we do, then that will have a top. That will tell us that the US dollar index is going to weaken. So it's these, I could take it to the US dollar index charts, which I will the only chart that I can take you to. And if you listened to my segment with Tom yesterday, this is already information that you already know, but I don't have a daily topping pattern out there. Does that matter? It really doesn't. And the reason that it doesn't, because the underlying instruments are the ones that are going to really control what's going on. We just took a look at the yen, the Great British Pound, and the Euro out there, they represent 83% of the weighting. That is all we really need to take a look at out here. So watch the, you're going to watch the yen, the Great British Pound already is telling you it's headed higher. The yen could be telling us it's getting ready to move along. We want to see that bearish reversal candle. And the Euro just depends on the candle at the days, at day's end out there. So I'll switch back to the other charts just so we can finish off the dollar. And we'll take a look at actually the US dollar index. And the only chart here that helped me identify that there was a potential top, even though the daily said not so fast out here. And that was this. We're looking at the upper, now we're just going to look at the chart itself. I'm going to simply expand it out. And this is a weekly timeframe chart for the US dollar index. And what we can see is a very clear delineated declining tops pattern with price trading into its bearish structured profile zone. That zone is between 102.54 and 103.49. So only if the US dollar index were to close above 103.49 would that be signaling to you and I that it's getting ready to break out. But that's not what we're seeing. We take a look at the Euro, the yen and the pound out here. So it does make sense that we see the US dollar turned down. Where does it head to? We'll look at it from a profile standpoint and a trend line standpoint right now. I'd say that would be the lower end of the target. Should we get those turns in the other currency pairs? So that was a good place to start. The reason that was a good place to start is because at some point in time, somebody might say, well, Stevie, what about those TD nine count bottoms inside of gold and silver? They're there. Does it need a US dollar index to turn down? Not necessarily, but would it be helpful? Most likely it would be helpful out there, but those are two patterns that are in place. And those patterns remain in fact, unless gold closes below 1934, 20 and silver below 2241 and price there should continue to move higher. Okay, good. We flip the charts. We're doing good. Hey, as long as we're here, we can take a look at natural gas here. Natural gas just struggling at the top of that weekly profile. We got one daily close above that area that was back on August the 9th. We're, you know, it's a real key resistance zone. That by the way, that is up at $2.85. And now we're likely to see price pull back in the 251, 256 level. Lights we crude, you can see right now, assessing key support. That key support is 81.17. We get back to this break. We're going to take a look at Carvana for John C. and the grains for Mr. Bill inside the Tiger's Den. 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 Kekstat's Tiger Forex report. Teddy Kekstat breaks down the forex markets every Monday using his 30 plus years of experience as a trading veteran of futures, forex, stocks and options. Teddy releases his weekly Tiger Forex 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 forex markets tremendously. When you sign up for the Tiger Forex report, you also gain instant access to Teddy's 60-minute webinar archive he just hosted, forex strategies and fundamentals What is Behind the Tiger Forex report. For all the details and to start your 30-day Tiger Forex 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 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.com 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 Welcome back, folks. We're taking a look at the charts here for Carvana, CBNA as the ticker symbol. This is for John C inside the Tiger's Den. So John, the one thing that we know, so this has a TD9 count top so we can see that. And the last three trading sessions, price has tried to get back inside its profile. It's been unable to do that. In order to do that, price would need to close above 4106. So with price below the bottom of the profile, maybe what this is going to go do is form a TD9 count bottom. Now in order to do that today, price needs to close below bar number four. So that first thing is going to be a close below 4144 today and tomorrow you would also need to see a close below 4146. And top of that, you've got to see a spike below bar number six. That low is 3820. If all of that unfolds between today, tomorrow, and Thursday out there, Tuesday, Wednesday, Thursday, then you'll have a TD9 count bottom. Now the B point for an A to B equals CD was back here on July 27. Volume there was 16.8 million shares. When it was past, it was with 14 million shares lighter volume. So it set up an A to B but right now we're back kind of above the, well, we're not really above the B point just yet. So it's also possible if this doesn't go on to form a TD9 count bottom like it did a TD9 count top, then maybe it's the A to B equals CD pattern that is out there. It doesn't have that much further to go to at least get to the one-to-one area which looks like it's about the 35 90-ish type range. If price does do that John, then what you're looking for is you're looking then for a bullish reversal candle to confirm a Gartley buy pattern. The weekly chart looks bullish. There's no topping signal that I see. Well, let me just pull this back a little further in case there's an A to B CD pattern. And there's not one that I see that sticks out at me at least that's worthwhile for us to look at. Price remains above its green oscillator and change line and above the top of its profile actually form below price. That's a bullish message out here for Carvana. So at this stage it's really about the daily trying to find a bottom. It's below profile as we can't say that's a bottom. And I'd watch for either a TD9 count or a A to B will CD pattern out there. So I hope that helps you out John C with regard to CBNA. Mr. Bill inside the Tiger's Den, he wanted to take a look at the grain. So Mr. Bill what I need to do for that is we're going to switch over and take a look at my newsletter actually. So each morning newsletter subscribers you'll see in a moment I cover the soft commodities or I cover most of the soft commodities. Those soft commodities that I cover each day wheat, beans, corn, coffee, sugar and cocoa out there. So that's what we're showing on my screen out here. I need a different data feed to generate these charts and I don't want to close everything down that I've got open in order to do that. We can just come back here. Now the reason to come back here Mr. Bill we'll go take a look at the other charts as well. First we take a look at wheat out here. You're welcome John. We take a look at wheat. I don't know if it's trade below 607 right now or not, but that's a CD9 count breakout level. It was tested and rejected yesterday. Sometimes getting back to a breakout level can be a bottom. Is there a daily bottoming pattern? No there is not out here but you got price trading into a bottoming pattern. That was at Rogement Dominicator bottom back here in the May time frame. With regard to soybeans soybeans are just simply right now. I believe they are consolidated with inside their daily profile. I do not have a bottom pattern. Instead I've got an A to B equal CD to the downside but that hasn't taken hold just yet. With regard to corn it's testing its breakout level 474. I think with corn is if it closes below that 474 level I know it's trading below it this morning this could generate a very large A to B equal CD to the downside. The case of coffee it's working on bar number 8 today. It has a Rogement Dominicator signal that's been triggered. If it generates a bullish reversal candle then it will generate a Rogement Dominicator bottom. Short of that it could be a TD9 out bottom that forms between today and Thursday out there. We take a look at sugar. Sugar didn't really have a top but price pulled back it got back below the bottom of its profile. I don't have a good clear read on sugar other than to share with you at least as of this morning it was consolidating with inside its profiles. In the case of cocoa which has had just simply an amazing run out here it formed a TD9 count top it pulled back towards its breakout level it's likely rallying up to 3472 and if it can clear 3472 it's going to go attack its most recent highs out there. So that's what the soft commodity is using Stevie's tools out there. This is the other chart which has profiles most of the times they're the same but sometimes they're different. We use both out here we use all the data that we can and so I'll just simply leave you with this. Now we can see that cocoa is actually trading above the top of a new daily profile. So I don't recall where because I close that out where that oscillator change line was but if it's above that too then what that's telling you Mr. Bill is it's headed back to those highs out there. So hope that helps you out. The coffee here I know that's got a roadsman to indicator signal. Not a hammer candle just yet but it could turn into a hammer candle at day's end. So Mr. Bill I hope that that gave the information that you were looking for if it didn't and there's one specific grain that you need. Let me know and I'll do what I can to get you that information. Dan inside the Tiger's Den wanted to take a look at the KRE out here. So let's go take a look at that. That is the regional banking ETF and right now you've got Carvana that's going to show up and momentarily we'll switch that over and we should see the chart here for KRE. Now what Dan was interested in was the 30-minute chart. So let's pull that over here. It was interesting 30-minute profiles I believe. Well Dan I got bad news for you. The profiles are way above price. Now maybe that's good news. I think you were short if I'm not mistaken. So the profiles are way up at 47.51, 47.60, 47.87. What you really focused on I would say on a 30-minute chart would be the oscillator and chainsaw which is currently printed at 46.31. That's the next resistance level on a move higher. Now you know that that number is going to move up by pennies or what have you so you have to use that as a guideline if you will. Now that's on the 30-minute basis. Now the oscillator chainsaw is going to be wrong when I change this to a 15-minute chart of any profile. I'm just looking for some profiles that I can provide to Dan. There is a new profile that formed on a 10-minute basis. That 10-minute basis, the bottom and center are at the same price I believe. The bottom and center are at 45.75 so that's a strong support level. But right now 46 bucks even Stephen price is trading above that on a 15-minute basis and in five minutes of price close above that level that would say a further rally is likely out there. So that's what the 15-minute, that's what the 30-minute charts look like. As long as we're here let's go take a look at the daily, the weekly and the monthly. On a daily time frame we can see that price this formed a nice roadsman to indicator top price is now back, is now below the bottom of its daily profile. So the next price target area for us has us looking at the weekly chart. At a weekly chart Dan that level is down at the 43.58 area live quote okay so perfect so this is suggesting that it wants a lower price and again that price target I would say would be 43.58 to 41.57 and 41.57 would be or should be the area where price if this was just a counter trend move would find support because it's a bullish, it's a bearish structured profile and typically at the center is where counter trend rallies die. They end and then they continue their move higher out there so the KRE looks like it wants lower price Dan hope that that helps you out as well are there any other requests I don't believe there are let me just check my phone out here a lonely day for Stevo just a few requests let's see if we've got anything and the answer is we do not so now Steves on his own let's take a look at what we want to look at next I'm going to flip back here just simply to the main chart well you know we didn't talk about the equity markets so we really ought to do that so that's what we're going to do we come back from this break you know take a look at the ES the NQ we'll take a look at the Russell 2000 as well Steve Rhodes with TFNN we'll be right back 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 US 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 dot com TFNN has just launched their new trading room 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 and now they are expanding their reach with the Tiger's Den available to all Tigers and Tigris 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 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 dot 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 dot 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 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 dot com or on TFNN's YouTube channel and become the investor you were born to be TFNN educating investors don't forget you can listen to TFNN live on your mobile device 24 hours per day go to TFNN dot com and hit watch Tiger TV that's TFNN dot com then hit watch Tiger TV back up folks let's go take look at the equity futures marketplace we've got the ESNQ the Dow the Y.M. and the Russell 2000 so we'll take a look at is today's going to complete TD nine count bottom patterns for the ESMini the low of the pattern whatever that is right now it's bar number eight and that low is at forty four fifty nine as long as price remains above that does not close below it so forget about remains but does not close below it you've got a TD nine count bottom with price likely going to go target the 4550 level that is top of its profile a TD nine count bottom is also going to complete inside of the NQ today it has new profile that formed right now the low of the pattern is yesterday's low let's assume that holds and it closed below fifteen oh twenty seventy five would negate that signal suggest lower price otherwise we should expect and anticipate that the NQ will rally up towards its oscillator and change line which really right near the top of its profile so fifteen five fifty one becomes the price target whoops that actually meant to do that now if we take a look at the Dow here the Dow has a sell the D point pattern with price trading sideways yes it's below profile but it's really been trading sideways ever since that pattern formed out there so it made it's down to the bottom of the consolidation while you've got a TD the ESMini the TD nine count bottom the NQ to TD nine count bottom and today bar number nine looks like you will complete for the Russell two thousand so it's going to confirm that pattern today it'll complete that pattern tomorrow the pattern has taken it back to its breakout level of 1906 out here so you've got the Russell two thousand it's also generating a bottom signal so that being the case if it's going to bottom what we certainly need to see is we need to see signals coming from the intraday charts let's move to those intraday charts let's begin with the NQ let's start with any bottom patterns that we see out here the bot first one comes from a fifteen minute chart this was five bar morning star candle so you've got a rogment to indicator bottom that is formed out here price should go target 15228 that's the top of his 15 minute profile the 30 minute chart is generated rogment to indicator bottom we can see that the oscillator and change on is really acted as resistance so two consecutive close above it and it right now is 15 we'll call it 15182 probably it close above that level two consecutive bars are going to suggest a rally the next double key level of resistance for it would be up at the 15259 level you take out 15259 that tells you the rally extends today the 60 minute chart has completed a TD9 count bottom it did as we came on the air at 11 that should that tells us that price should also target the oscillator and change line that's at 15213 we take a look at the two hour time frame chart I don't have anything there other than price a TD9 count top that took price back to support which was its structured profile area 15147 on a 240 minute chart it's got a nice rogment to indicator bottom price pulled back and tested support that's the oscillator and change line the same is true with the five hour time frame chart so what Stevie just shared with you is that the NQ is bottoming it's bottoming right here right now well maybe not right here right now but really not too long ago if we take a look at that 15 minute time frame chart is the bottom in look what I can share is that bottom pattern that TD9 count is going to complete today we could get a spike low lower than yesterday's low that's always a possibility but the inter-day charts here right now are saying sayonara well we don't have I don't believe we have in order for let's go take a look I'm going to change panels here so we don't screw this up me a moment we're going to go to a different screen just simply so we can take a look at the market breadth of data so the first level first area we're going to start is going to be the NASDAQ 100 we've got 32 above and 22 below remember that NASDAQ 100 chart on a 30 minute time frame generate a rogement dominicator bottom but also that oscillator and change on was a key level resistance so if this market breadth is going to prove itself to us it should take out that 15-182 level if it does that it suggests first there's a small battle of 15-202 and the big battle is at 15-259 let's take a look at the S&P 500 we better for the end NASDAQ if the S&P also had positive market breadth it may not at this stage here but let's take a look I just don't know but we're going to find out here momentarily 130 above 154 below so still sellers that are in control of the 30 minute we haven't taken a look at the 30 minute ES charts out there but I do believe it's more about the NQ than it is about the ES although they both need to be traveling in concert let's take a look at the other time frames that we have out here and those other time frames are the 60, 240 daily and the weekly let's change over to the NASDAQ 100 right we have on a 60 minute basis so 60 minute we've got bearish market breadth 240 we've got bullish on this 60 minutes 25 above 44 below remember we just completed that TD nine count bottom like those bottoms where it's a roadsman to mitigate her bottom or TD nine count bottom they're going to catch the bottom before market breadth turns but we do need to see this market breadth turn as price approaches that 15-213 level and especially 15-259 because that's going to be the key battle today on any higher now the 240 minute chart has positive market breadth and that chart that market breadth looks like this this has got 28 above 25 below so it's by a smidgen but remember on that 4 hour chart price it pulled back test and support that was a Saucer and change line so that was a bullish test out there so actually so market breadth is it's not all bullish across the board but it's got a pretty good start with the 30 and a 240 being bullish and the 60 slightly well a little bit more than slightly bearish out there now we didn't take a look let me do that let me switch over here take a look at the S&P 500 and for the S&P 500 we got market breadth data that says we are bullish on the 6 remember we were bearish on the we were bearish on the 30 we're basically a break even on the 60 as we can see and the 240 slightly bearish with 146 above 161 below so let's go take a look at the ES mini charts will change panels but get over there give me a moment here and we'll change the panels then we'll actually let me get the symbol going first before we change ES that's 23 so I can get the machine working and now we're going to go ahead and change screens out here give me a moment and the ES mini chart is populated anyways going to take just a bit because of everything I've got running in the background but what you'll see here on the ES mini the daily chart is accurate you've got that TD9 count bottom with the low coming in a couple days ago actually the lowest today okay we've got a newer low today so so far if today's low if we don't see a move lower then the key threshold level is going to be 44 58 50 price would need to close below that level in order to suggest that the TD9 count bottom has failed I'm waiting for the other charts here to populate but we can see the 30 minute chart much like the NQ formed a by erosement to indicator bottom 30 minute chart was a little bit slightly bearish as I recall price should go target 44 84 and 44 87 now the cool thing about the 30 minute profile is if it's only a counter trend moving the ES mini then we're price going to find resistance is where folks at the center of that bullish structured profile that price is closed below from one of the two consecutive sessions on the rally this morning where their price stop remember the body that candles yes and some price and at both 9 30 and 10 o'clock this morning 44 87 held 44 87 what's called 44 87 75 is called 44 88 if we get a close about 44 88 that's going to signal that there is a further rally coming with 45 0 1 being a likely price target 10 minute 15 minute chart turn that off 10 minute and 15 minute charts have but you've got a you have bottoms along the bottom path here 60 minutes got a TD9 count bottom 30 minutes got erosement to indicator bottom 15 minute 10 minute who somebody with the devil was asking Stevie for trades out here I can't provide you with more information than this with regard to what the market is communicating to us if we take a look at the 240 minute chart it has erosement to indicator bottom that bottom was tested here that is held you might even get another bullish reversal candle here do we need two roads meant to mitigate their bonds for the four hour time frame chart we do not a five hour chart it's rose meant to mitigate her bottom held as well I think the push lower for the day is done with it's over Steve Rhodes with TFN you're right you might think that if you want to be 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 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.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 Pezzavento 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 ETFs China A shares in either direction visit directioninvestments.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 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 this program is brought to you by this program is brought to you by this program is brought to you by Vista Gold traded on the NYSE American and TSX under the symbol VGZ come back folks you got the dow down 249 sbs up 31 nasdaq 185 russles down 15 we take a look at the charts here for silver let me make sure we're on that page we are this is for diesel inside the tigers den so diesel let's start from what do you want to start with the monthly chart monthly chart month is not over but prices are at profile levels once you get back inside a profile level could be signaling to us once to make a move to the next area that would be 21 22 in the case of the weekly time frame chart if it price closes below this level right here this level is 22 34 this would trigger an A to B equal CD to the downside that 1893 area could become a target but right now prices just tested in prior swing point well we've got price on the daily basis testing a prior rogment to indicator bottom that happened on June 23rd out there you have a td9 count bottom that formed yesterday and as long as price does not close below that low that low by the way is 22 41 we should see price bounce up to at least 23 22 you get above that and you've got a further rally with 24 57 being that the price target now we get to the intraday charts 30 minute from the beautiful rose bit to indicator bottom price ran right into resistance up here at his td9 count breakout level that was at $2 and $22 and 73 and the 60 minute was a td9 count breakdown resistance level that held there's resistance but I was going to ask anybody out there know where the key resistance level is for silver today that's right we would say 22 73 we would know that if we didn't use the td9 count system out here we go to the two hour time frame chart price ran into resistance at the top of its bare structured profile area that's between 22 74 and 22 76 so 22 76 is going to be the P key battle ground if price gets above that the next battles are at the 22 84 and 22 99 level you clear that we're off to the races out there those are the charts for silver they've got a bottom in place right now diesel you're looking for trades it's there it's an easy reward risk now you got to close that trade out if you close below yesterday's low that's how you would trade it all right let's close out silver let's go take a look at lights we crude that was for John C inside the Tigers then we go take a look at lights we crew up that's not the charts for lights we crew but we'll get there here are the daily weekly monthly and intraday charts for lights we crewed so right now lights we crewed is testing support and support is that green oscillator and change line right in about 80 55 where we're trading the weekly had busted out of a consolidation pattern right now prices testing the bottom of its profile that holds then the then that what that will tell us is the consolidation is real now on a daily time frame this formed a rogment to Mindicator top it did that four days ago when it formed that bear sash candle that was on August 10 right now prices trading below the bottom of its profile 81 17 I would say John that a close but below 81 17 would signal to you and I that price wants to make a pullback to 74 52 the 30 minute chart may form by 12 noon may form a TD 9 count bottom in order to do that we need to see a spike below 80 40 and if we well you need to see a spike below 80 40 by 12 30 because the bottom could form on bar 8 or on bar number the bar number 9 to the bar following bar number 9 out there so watch this through 12 30 out there I know what you're looking for is maybe to cover your short position out here I think you have to keep a keen eye on the 30 minute and the 60 minute charts which are are generating now the 60 minute chart is going to form a TD 9 count bottom as we get to that 12 noon hour but it's that our afterwards that low can still take place by at 1pm so you should get some type of a bounce out here but the question is that just a counter trend move so you've got those short term time frame charts to be watching and observing pay attention those TD 9 counts you could take a snapshot of this right now on your screen so you'd have that data if you don't follow that system out there which you should follow the system because it's easy to figure out and I teach that to you so that's what I see when I take a look at lights we crew to get 81 17 is going to be the real important hurdle to be paying attention to of course one day close below it doesn't make a change in trend but a second day tomorrow what that's why we're watching those interday charts out there so that's what I see when I take a look at oil out there John C I hope that that helps you out and thanks for your request the next request coming in from Phil inside the Tigers dead Phil wants to take a look at Home Depot so let's get over to those Home Depot charts see what it is up to and Home Depot right now trading out at about 3 30 49 because of what I've got open I would likely have a little bit of a delay out there 3 30 31 is the last print this is consolidating with inside its daily profile it has a TD 9 count top that is simply led to a consolidation Phil and that consolidation range between 327 23 at 3 30 497 that's a daily time frame chart the weekly time frame chart has a TD 9 count top now we can see that it's oscillator and change line change colors about four weeks ago what that signals to you and I is price should pull back to that level but that is not going to happen unless we see two consecutive close below 327 23 and then if that happens then we get a pullback to 3 16 69 that's a daily TD 9 count breakout level and then it also lines up with that weekly oscillator and change line so you've got the top in place but support is held if we look at a week a monthly time frame chart for Home Depot just a good old fashion consolidation with inside of profiles it's bullish right now price trading above that green oscillator and change line so it's really going to be about the weekly and the daily chart out here and first say to start with you go with the daily now of course if this were to close above the TD 9 count top on a weekly basis that's 3 30 497 then this is off to the races to the upside so Phil I hope that provided you with the information that you were looking for and if not just to ping me again and we'll be happy to take a look at that next chart is for AMD that's from the golf guy and Michael W. I saw you reset me that question I forwarded an answer to you I sent and responded an answer to you so maybe check your junk mailbox because your question has been answered let's go take a look at the golf guys question and and the golf guy all that's Duncan Steve inside the tiger's den we take a look at AMD can you plug AMD into your system and see where it may be headed to say the next month or so well right now what we've got is a consolidation pattern so yesterday price pulled back almost to its breakout level didn't get all the way down there at 103 49 it has a TD 9 count bottom that's been tested that's a TD 9 count bottom from June 27 so the bottom has been holding but right now what you're taking a look at is price testing disaster and change line that's at the 112 40 level ideally you'd see it close above that if price does close above that then that would signal move up to the top of the consolidation with inside the profiles and that's at one nineteen forty one so I would say the trading range out here is one nineteen forty one at the highs and at the lows I'd say it's down at the breakout level 103 49 you can see that beautiful roads meant to mitigate her top TD 9 count bottom out here just a sideways move now that's the daily chart golf guy on a weekly time frame chart prices lost its momentum we know it's lost momentum because prices trading below the green oscillator and change line so a lower downside target here would be 100.93 what was it on the daily I should just let that open that was at 103 49 you're asking what's this likely to do during the next month at one twelve forty one words test right now that might release the information that we need to know if we get a rejection here then it says we probably head back lower and test either 10991 or get back to yesterday's lower preferably the 103 49 level on a monthly chart beautiful TD 9 count bottom just like you had on the weekly on the weekly chart so monthly and weekly you have those patterns out there price ran right in the smack dab resistance where was that the TD 9 count breakdown level right at one twenty five 67 so in summary what's AMD going to do for the next couple months maybe it's just this sideways move out here that's the best I've got for you Duncan Steve thanks much for taking the time to write in Steve Rhodes with TFN we'll be right back to close out the show if you're looking for potential trading setups in the stock market then rocket equities and options report as a newsletter you should try Tommy O'Brien delivers options and equity trades when the markets present them using a combination of fundamentals and technicals sign up for rocket equities and options report today with a 30 day money back guarantee so you have nothing to risk for all the details and to start your subscription today visit the front page of TFNN dot 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 dot 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 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 dot 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 dot com when you subscribe you'll get a weekly report from veteran day trader Larry Pezzavento 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 dot 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 $1 for the year there's no cash or added costs when you join our community of traders sign up today and become a part of this educational community of traders just visit the front page of TFNN dot com so right now we'll take a look at this little present for you this is a market analyzer this is one of the this is a similar chart to what subscribers they get that certainly get them in the morning as well as in the evening Monday through Thursday I I try to do at most most needs I do a end of day report out there and it covers probably a couple at least 100 150 no probably a couple hundred instruments that provides you with what you need to like this so for example we're looking at right now I've got the index ETFs up here and you can see what what the system that I use what their current market outlooks are for the daily weekly and the monthly time frame but I want you really to focus on though right now is the top and bottom signals right now we're looking at bottom signals so we take a look at the daily time frame you can see that the spy had a Rosemont Dominicator top out there and now that has led to a TD nine count bottom I know it's a TD nine counter tells me that what it has done is it's met all the requirements so we've got a TD nine count bottom that's going to complete today inside the spy the same thing for the cues in the Russell 2000 bar number nine is going to complete today or is likely going to complete today so three of the four have got bottom patterns out there if we take a look at any also what I've got out here you can see the last TD nine count top if it's got a star next to it it tells you it's still active out there if we so what the number one sector the XLK is going to complete its TD nine count bottom pattern today here I've got the resistance levels or price targets you've got the oscillator and changeline on a daily time frame this tells you where price is likely to head to out here just a plethora a ton of information take a look at the material sector the XLB if you're looking for a trade look at the XLB that's going to complete a TD nine count bottom today out here what else Tesla is completed a TD nine count bottom yesterday so you got to take a look at price trading below that low meta Facebook out here is going to form a TD nine count should form a TD nine count bottom pattern today out there and don't worry about the SLV because really it's a silver and gold itself not the ETF so that's how I'll leave it folks with a little present here thanks much for joining us today stay tuned for great programming I'll be back with you on wonderful Wednesday please have a terrific Tuesday we see