 The following is a presentation of TFNN The Traders Edge with Steve Rhodes at 1-877-927-6648 or internationally at 727-873-7618 The Traders Edge now Steve Rhodes Good afternoon folks welcome to the January 21st man 21 days really flies by quickly but it is the terrific Tuesday or Taco Tuesday edition of today's Traders Edge and Steve Perseverance Rhodes who absolutely knows that each of us should always be pioneers of our future versus prisoners of our past hope everyone out there is having a great day hey let's make sure we have an extraordinary one and 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 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 we're going to go check on the circumstance of these markets we're going to go figure out what those bulls and bears what those buyers and sellers are communicating to you I just passed one o'clock in the afternoon I want you to know that I'm absolutely grateful for your presence here but much more important than that during this next 60 minutes I'm here to serve you so feel free to pick up that phone you can dial in at 877-927-6648 if you can't dial in we've got you covered there too you can send me an email steve at tfnn.com inside the subject heading please put radio show question of course our Tigers any ping we'll 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 last show right now we've got is a mixed market out here you've got the Dow down 20 the S&P is flat it's off by less than one point Nasdaq 110 points Russell is off eight semis are up four so a little bit of everything you've got the spotball atyx trade now to 1244 the more important thing is what it did earlier today which was tested and rejected his 50-day exponential moving average well you'll get to see that level and why Stevie uses that as a go-no-go zone so to speak out there so we'll take a look at that gold's off five bucks Silver's down 29 cents she trade out at 1778 lights we'd crude is flat natural gas is not flat down another 6% or 12 cents trying to find a bottom where or where is that bottom lead the charts the upside Tesla's up 31 bucks beyond meet 16 Galapagos Islands really it's envy but they're up about 12 bucks Shopify 11 to the downside booking holdings 40 buck runes about 2% regenerate pharmaceuticals $17 that's nearly 5% Ricardo Libre 16 bucks to an ad percent Aberdeen standard down 10 or 4% so certainly things to look at but we are going to look at what you want to look at the first request coming in from Chris B Chris B writes in and says what's your thoughts on Tilray where's it likely headed over the next three to six months along some call option so real quickly here we take a look at that Tilray on the three time frames we know that Tilray ran into some resistance this morning that resistance set up and established by its brand new bullish structured Taz market profile at that top of that box is 2252 yes price got above that but is trading well below that well it's trading below that at 21 34 out there your question is well first you know that you've got a resistance level needs to be taken out 2252 to continue higher if we take a look at the weekly chart was there a new profile no it's this week that it's formed so in this case here Chris you've got a brand new weekly profile that form below price that is typically bullish now I say typically let me describe what typically actually means it's bullish however if price does duck back inside that profile that would mean a close below 2027 then you should be looking at price getting back to 1952 the bottom of that daily profile out there but as long as price stays above that that looks good out here you're asking for a target over the next several months out here well if you look at the weekly time frame chart you're going to see that this form both a TD 9 count bottom rose momentum indicator bottom it did that last week when it generated that bullish engulfing candle and now we're looking at is 2380 is your resistance area so we had a resistance area with a brand new daily profile that's going to be slip different than the weekly level out here 2380 is the breakdown resistance point using that TD set up 9 count so you're really looking for some type of close above 2380 if you see that then the longer term run would take you back into the breakdown the pre the prior breakdown area which is an 82 81 right now you've got resistance at 2380 that level has not been tested there's not anything here to suggest that it won't but the confirmation would come with a close above the top of that new daily profile and that number again is 2252 there's nothing on my monthly charts whether I look at this black background one that does not have enough data to get monthly profiles and I don't see any other signals on my monthly time frame chart out there Chris so best of luck with that trade that you are in I hope that helps you out LB writes in Lee writes in and says a fair some very nice things that thank you very much you bought this a couple of weeks ago I'm looking where's the this could you take a look at NVAX there we go NVAX let's go ahead and punch this up here see what we've got with regard to profiles of nice big move today he bought it a couple weeks ago see what just simply what are the thoughts on the charts out here so look you're above the daily and the weekly profiles and price ran in resistance this morning at the bottom of its monthly which also happened to be the center of its monthly if you look in the data panel on the upper right hand screen you'll see that the you've got volume at the very bottom and you got BOT for bottom CTR for center TOP for top those are of the profile sometimes I use the word box you can really don't see a box out here but so you you're running you're right you're sitting right at resistance Lee it's clear yes you've broken above resistance daily and weekly but now we can understand what's going on from a monthly standpoint out here from a monthly standpoint what else is going on if I look at is there any bottoming signals out there and there was a TD9 count well it's so too little data for me to really be able to say yeah you can see the rows and went to Medicaid or top out there for about 300 that took this thing down into the eight so you know worthwhile to pay attention to those patterns mostly that was a monthly chart let's pull back the the weekly chart out here what do we see what else do we see 1110 so price can get above this area here above that top of that or the bottom of that monthly profile that you're looking at 1110 as it's next to area this did form a rose went to indicator bottom panel two of them so sorry two of them so you can see this is really trying to form a bottom out here that sticker symbol NBA X so I don't see any reasons to exit you're just simply are at resistance you know no topping signals just resistance and so all that makes sense to me but look at the daily timeframe chart what do we have out here not a whole lot not a whole lot for me to be able to on this chart to be able to provide you with anything let me pull this chart back just a tad further or it's really just means open it up and I'll get further back here see if there's anything else you know really nothing other than this super gap out here super gap is back from March of 2019 and that high of $17 but we've got other levels for you to be focused on and paying attention to with regard to Nova Vax ticker symbol N. V. A. X. out there so Lee thanks for writing in hope that helps you out we've got some other requests here inside the Tigers done let's get to some of those I see J. I'll just work my way up J. wants to take a look at the Taz market profiles out there real quickly J. There's none there were some this morning they have since evaporated what one exception being the Russell 2000 to get back to this break will describe that to everybody that's listening in but I'd love to hear from you. If you're not currently using the Taz profile scanner when looking at setting up your trading opportunities then your arsenal is short a mighty weapon the Taz profile scanner is a standalone piece of software that instantly filters over 2,500 global financial markets such as stocks ETFs commodity futures and forex headed by Steve doll Taz understands that in today's technological world the use of top flight software applications and technical analysis expertise is essential to successful trading in today's market you also gain access to the webinar that Steve doll and Tom O'Brien just hosted the best way to use the Taz profile scanner to profit this webinar archive is available for all subscribers immediately upon signing up all new subscriptions also come with a 30 day money back guarantee so you have nothing to risk start your subscription by visiting the front page of tfnn.com today and you'll find the Taz profile scanner under the services tab sign up today are you in the market for buying or selling real estate in the Bay area including the surrounding St. Petersburg Tampa and Clearwater markets Tiger real estate LLC is a firm that has extensive experience in the Tampa Bay area whether you're looking to sell your current property for maximum value or you're in the market for a second home or investment property Tiger realty has the experience across all areas of real estate in the Tampa Bay area to help buyers and sellers make the most informed decisions across all price levels from the price you should be paying per square foot in certain up and coming areas to the type of cash flow investment properties are capable of creating Tiger real estate can help you make the best decision when it comes to all areas of the market before you make one of the biggest decisions of your financial future called Tiger real estate LLC today at 727-329-8322 or email us at tiger at tfnn.com that's 727-329-8322 call us today many of our new listeners have heard about the Tiger's Den the Tiger's Den is a lively community where professional traders and investors can meet exchange ideas and information in a comfortable moderated atmosphere here all the TFN shows plus see all the charts as they happen live and have access to all the archives of all of those charts you can test drive the Tiger's Den absolutely free for 30 days and greatly enrich your knowledge of these markets and how to make your money work for you details on the Tiger's Den or on the front page of tfnn.com tfnn has launched our brand new website you can still visit us at the same tfnn.com URL but when you do you'll see a new and improved homepage with a much simpler navigation whether you're watching Tiger TV live in or just accessing your newsletter subscriptions we even have new pricing in six months and yearly options check out the new tfnn.com now and experience all the upgrades tfnn.com educating investors call now toll free at 1-877-927-6648 internationally at 727-873-7618 welcome back folks we're going to start with the mix market out here does off 38 S&P down three Nasdaq just turned slightly red off one point so let's go pick up where we left off as we went into that break as mentioned the Taz daily profiles well daily and weekly are what we have on this screen out here and what you'll notice so earlier in the day J well this morning I should say early this morning the ES the NQ and the NQ has been motoring things to the upside so we want to really be paying attention to that right now you would the NQ would need to close below 89 40. To give you a change in trend signal now. I want you to focus on that second panel from the bottom of the screen. We're going to start with the NQ and the NQ has been motoring things to the bottom of the screen. I want you to focus on that second panel from the left out here. Because so and you know how we work with the market profiles just help us identify support resistance others tools that Stevie uses to also do that but just from a market profile perspective and this is why look you don't need to be early to try to get to the short side assuming there's a long way to go. And it's a profile daily profile for the NQ now if you close below the daily profile that says OK what's the weekly doing well look where the top of the weekly is 80 86. That is a 900 800 you know. What would it be 840 840 point move or so to the downside so you don't need to really get it not that much of support out here and inside the many example and panel number one on the left that would be 3026. Now there is a new profile that is attempting to form I say attempting because we're using Stevie's advanced Doppler tool that's in the very right hand panel chart the Russell 2000 it still is tested the 2019 high that was a 1687 80 and has rejected that so there's it's still bullish it's still in the high of the market's breaking out and that's a fair statement out here so that new profile J 1683 at the top if 1658 at the bottom but we'll really have to circle back around tomorrow to see if in fact that is what we want to be. That new profile really does take hold there are some other questions with regard to some ETFs I believe Jimmy is looking for Jimmy one of them was the GDX I believe take a look at the three time frames you're looking for a short entry into the system out here so in the GDX it here's what you know prices trading above the bottom of its daily profile that's 2848 so if you're going to say hey where would be on the daily profile wise where's the best place to sell well the best place would be the top of the profile that would be 2987 I'm not saying it's going to get better in the question where's the best place to sell 2908 would be another factor price has been consolidated with inside its weekly profile between 2672 and 30 bucks out there it's not really providing us with a lot watch the weekly I'm sorry the monthly we did see a close above the top of the monthly last month remember like two bars well right now we're back below the top of that profile at 2880 we're trading at 2872 so that's what I see when I take a look at the top of the top of the profile I'm going to show you what we're trading right now just just just to be clear the top already I took place out here inside of GDX did that back on September the 6th out here did that with the roads momentum indicator pattern out there right now prices running right into Stevie's green line so if you were of the opinion you want to take a short right now because you're just you just got a hankering to trading right now other than that would be suspect but it's up in resistance on a daily basis now the weekly chart here as we take a look at the GDX as pulled this open what do we see this also top of the road momentum indicator signal here prices test and rejected Stevie's red line as well that's a 2888 so that's not a real positive outcome yet for the GDX so that's what I see Jimmy when we take a look at the GDX you're looking to short the spy well you're looking to short the spy how do we do this here first I wet the lips and then we go take a look at the spot volatility index that's right folks we're gonna go look at that spot volatility look at this here look at this I think of beauty as some of you might think you know that's a Stevie just pulled that 50-day exponential moving average from you know where the reality is I didn't it was a lot of work I could try to figure out which moving average had the most significant impact on being able to help you and I understand what the markets are communicating to us bullish or bearish that is and in this case here the actual high today is inside the spot volatility it's 1333 the 50-day exponential moving average is 1332 you gotta love that and so far what you've got is a rejection so Jimmy you're looking for a place to short the spy I'm gonna say right now well we'll go look at the short-term time frame charts but with the message that you received today just so you know it's bullish now price close above 1332 a different story out there but right now we're gonna give you the story is I'm not gonna make up a story I'm gonna tell you the real story the real message of the markets out there so pay attention in that spot volatility except 50-day exponential moving average that is like the go go zone out here and right now to the short side it's saying go if you know what I mean now if and there's the potential now if we take a look at the daily time frame chart here for the ES mini so that's kind of an interesting thing we'll go take a look at the cash because we may see some differences of opinion but you do have a TD setup nine count pattern out here that was because of the high on Friday now we haven't taken out that high just yet if we do though what the ES mini is gonna do is get to wave number seven that's coming off of the swing point from right here on the trading day of December the third you know how these markets do like to saying in the key of G so there are topping signals and patterns all over the place no roads meant to indicator pattern that is in play now for the ES mini out here now priced it today was test and rejects DB's green line now the green line is the oscillator and change line that's the no go go zone to tell you whether there's a retracement or was it just more of a retracement to test support and it's one twenty five in the afternoon is a retracement to test support so are the reasons to be skittish absolutely it can we find a reason to take a short we can but that should you take that short should you get on that horse and ride it to the downside well let's see what the giddy up and go signals say on the short term time frame so if you were wondering which many were this morning what is all those futures trading lower out there and you were saying I you know you got that ECM target date whether it was over the weekend you know so that the top must be in out there and you looked at it this morning you were like I'm going to jump on that train just to see the markets move north out there well you would have benefited with the roads momentum indicator pattern out here if you take a look at the high inside the ES mini on a 30 minute basis that's what identified informed the high did back here when we got that dark cloud covered about 430 in the afternoon and what did price do earlier this morning well as price was lower into 4am it was doing so with less relative energy now that alone is not the signal you look for some you look for the cavalry the cavalry rides in with those bullish Japanese reversal candles that took place right here at 6am with that hammer candle and now price has run all the way back up to those highs are just short of it and there's a TD 9 count potential depending where this candle closes in about four minutes time Steve Rhodes with TFN and so far it's been a bullish test and rejection I'm certain you are or strive to be one of the best of the best at everything you do in life it's the most common trait that we Tigers and Tigers share if you're looking to become the best of the best when it comes to managing your money let me teach you to do what most wealth managers tell you can't be done which is how to time the markets I'm Steve Rhodes author of Mastering Probability and for the last 12 months Timer Digest has been tracking my newsletter signals which have earned me the ranking as their number one market timer in the nation for the S&P 500 for the last 12, 6 and 3 months Timer Digest also ranks me as the number one market timer for gold as well the fact is markets can be timed and I'll teach you the exact set of tools that I use that has transformed me into one of the best at what I do sign up for Mastering Probability today by clicking on the newsletter tab on the homepage of TFN.com and you'll get the immediate access to workshops where I take you step by step how to use an extraordinary set of tools as well as provide great market calls to sign up today if you're a trader in the market looking to find the path 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segment is brought to you by Think or Swim for more information just click the Think or Swim banner on the front page of tfnn.com Welcome back folks that was off 62 S&P down 6 right now so well let's go back to that 30-minute time frame chart here for the ES I can give you what to be focused on and paying attention to so right now what we've seen that little pullback we saw was nothing more than in essence a test of Stevie's green line now we were anticipating that would unfold or you should have been anticipating that why because when that line changes color that line the oscillator and change line went from green there's a phenomenon associated with that color change it tells us that price in that line are going to catch up to each other and they're going to give you a bullish or a bearish signal and so far that signal is bullish it's a test and a rejection of that area there is a brand new profile on the 30-minute time frame that is formed out here so we've got to watch how price behaves should it be able to close above 33.24 that's the top of the profile or if it closed below 33.17 that would be the bottom now if it closed below the bottom of the profile then that suggests well it suggests lower price wow you've got to be a real rocket scientist for that one Steve but hey it is what it is so right now price has made it way back to a prior high out here so we kind of make sense you know that okay it's given up the not the ghost so to speak we just have sideways movement such a 30-minute time frame chart you know what's it telling us what's the money telling us at the moment let's actually change over it's not just focus on the as many we should really be focused on the the kingpin out here right that would be the NQ and if we take a look at the NQ for a short term time frame it's really doing the same thing so this morning if you were using the road momentum indicator tools or your subscriber of mastering probability get the newsletter it helps you understand what the market was doing even though it was lower and people are scratching their heads what does this mean jelly bean well we were saying well we already knew what it meant because of the signals that were down there and if price could close above the top of its profile this morning which was 91 in the 9145 level well we see price move up to 9174 it's exactly what it did out here so where we where we at now right now where we're at is that test and rejection or potential rejection of steve's green line on the 30-minute time frame that's now let's go look at the deeper meaning here for the NQ what what are we going to be watching for let's say the market just simply sells off $132 on for the rest of the day out here well what you're going to be watching for in the daily time frame is some type of bearish reversal candle do we have that now when you guys take a look at this you guys in gals out there and they ask this question is today's candle right now as you look at it bullish or bearish you're exactly right it's a bearish candle it's a it's called to it's referred to a key reversal now that's what it looks like at $133 may look totally different this afternoon the reason that it's a key reversal is the high of friday and the low of friday both have been penetrated and you can see that this is a red bodied candle all it needs is one tick in the downward direction to be a key reversal now it's a bearish reversal candle but the signal itself is still bullish right now and the reason why it's bullish is because prices above steve's green line so the level to be watching is $91.36 now I've seen the corona virus talked about a bunch of news I see it here in the den I see a lot of folks are and we all should be interested in any kind of disease that's going to kill folks out there obviously but let me show you something that's kind of interesting do debt to everybody else out there one of the things that I tried to do the best that I can is keep an updated chart of all the geopolitical or many of the geopolitical doesn't contain all of them all of the items events out there and so the last time we had a scare like this so to speak let me see if I know I can find it just give me a second here here we go S&P 500 geopolitical that would be a place where you would store it now if you take a look at this here so the last one when I think of this this norovirus that's going on which really is nothing like the other virus that the market was dealing with but in the scariest moments there was a global outbreak remember when it was here in the U.S. and they were trying to quarantine a couple of folks in some of the hospitals in the northeast probably in Boston or somewhere I don't recall that but I just want you to know that there was a that and I'm not saying the price won't head lower but to the extent that that becomes the geopolitical type event out there and just look at all these things are things that you would think okay would identify or mark just continued moves lower in the market out here it's not always the way that you think it might be it just go back here remember the downing of the Malaysian airline MH17 I believe that was the number that identified a bottom Bola in the in the in the deepest of hours out there we saw an Ebola bottom we got the China bear market bottom we got the oil crush so to speak from 61 bucks to 26 that doesn't show this on the S&P but that identified our exit identified a bottom sending Tomahawk missiles to Afghanistan identified the bottom Robert Mahler coming on board identified the bottom North Korean North Korea missiles where they shot them near the near near the islands in Japan Charlottesville Flynn guilty plea you just kind of keep on going and going and going if you know what I mean out there North Korean submissal launch that was a these are things that people in the news that people report them would make you think that the world is coming to an end and that it's falling apart and if you didn't have this type of a set of tools or charts here to understand the way that the markets really respond during these geopolitical type events out there you know then you'd be lost but now you really know the types of things and the types of things to really anticipate out there so I'm not saying that it's bad or anything but I just think here's a couple of years worth of data well more than that right I think go back what to 2014 so we're looking at about every single geopolitical type event out there no but you know when I see these changes in trend I do try to identify what else might have been going on fundamentally out there so I just thought it would just go ahead and throw that in and share that so with regard to the the markets I think we really need to focus on the well the NQ you know should be the should be the story out here if markets are going to crack we're going to see that even with a bearish reversal candle confirming the roadmap indicator signal right now you got to see a close below at least 9135 that's not going to get you below obviously the bottom of its daily profile and that might just result in only a test of that I don't know the Dow itself okay the Dow certainly a leader it's generated a roadmap indicator topping signal how did it do that well right now you got a bearish and golfing candle Friday was a shooting star so you got doubly confirmations out here but it's just knocking at the door of support that keeps keeps on ticking 29157 you see the test and rejection that's why Stevie's green line is so important out here well at least I believe that it's important and you and I like to actually go ahead and use it we take a look at what else is going on inside the markets let's go take a look at the the advanced decline oscillator reading where is it just below zero right now where is the spot volatility next well right now it's still below the 50 day exponential moving average we talked about that just briefly you do want to watch if you were to see the spot ball till it's close above that 50 day okay remember 1333 ish type area that combined with the New York Stock Exchange advanced decline oscillator below and control but then you've got to go back and take a look at those support areas inside of the futures contracts or the daily cash contracts I'll pull up a daily cash contract for you right now let me do that here before we go to the break and then we'll get to platinum and some other another ticker symbol I see John is wants to see something about FXI so we want to get to all those questions out there here's the S&P 500 let's just pull this over the time frame chart well that could be a key reversal too still the S&P cash much close below 3313 see broads with TF&M we'll be right back if you're in the CD market and looking for a secure investment the Tiger First Mortgage Program may work for you the security for these first mortgages are building lots in the tax opportunity zone in St. Petersburg, 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edge in today's markets TFNN newsletters cover every aspect of the markets to offer you the very latest in market news plus new subscribers get to test drive our newsletters risk free for 30 days from all aspects of the markets including stocks, bonds, metals commodities and tech there's a newsletter to fit your needs exclusively from TFNN stay informed each day you trade and get the competitive edge that will help you stay ahead of the game visit our newsletters page by going to TFNN.com and click the newsletters button near the top of the page TFNN.com educating investors biotech is booming but for how long whether you think the biotech bull has room to run or has run its course trade LABU or LABD biotech 3x bull and bear ETFs visit directioninvestments.com slash biotech today an investor should consider the investment objectives risks, charges and expenses of the direction shares carefully before investing the prospectus and summary prospectus contain this and other information about direction shares to obtain a prospectus or summary prospectus please contact direction shares at 866-4767523 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 4-side fund services LLC don't forget you can listen to TFNN live on your mobile device 24 hours per day go to TFNN.com then hit watch Tiger TV that's TFNN.com then hit watch Tiger TV for the latest market information folks right now you got the Dow trading down 85 the S&P is off about 10 out there Marie and the Tiger's Den was noting the big move inside of Treasury bonds of 30 years up over one full point out there trading out 158-19 there's still resistance and we can go take a look at that for you as well but what we're seeing here the US dollar index is trading down a little bit it's five pennies out here really when you see that rush into bonds like that it's also another way for folks to get into the US dollar index and that's really what is going on we've got a caller on the line so we've got call ahead seating let's go out to Jeff in New Jersey Jeff thanks for calling thanks for holding how are you doing today doing well how are you Steve very good thanks so much for asking and I know we're going to talk about Intel so tell the folks what you're doing and how I can best help you sure so I have like a policy for myself to not hold a position over an earnings report but I'm very conflicted about Intel I'm looking at the daily chart and there's a beautiful rounded bottom there it's looking very bullish it just kind of broke out a little bit today pulled back a little bit but it's looking really bullish but the earnings report is on the 23rd this week after the market closes and I would really like to get some calls on it but normally I feel like earnings reports are crap so I'm kind of conflicted and I wanted to ask your thoughts on it so my first question would be how has that worked for you generally speaking does that work I don't have really good metrics but I would say it's about 50-50 somewhere in there as far as how earnings report relates to the set up on the chart usually I'm glad that I did not holding the stock to the earnings report because there are surprises often so I really should stick with that but this chart formation just looks so tempting that I thought I should get a second opinion so this is great thanks for that explanation it's really helpful and so today's activity as an example Intel if we take a look at the daily timeframe chart so something to add to maybe your thinking here is the fact that there is a bare structured daily profile now what that means there's really three lines or often times there's three lines there's a top the top is identified in red the bottom is green the center is a cyan bluish type color now the top of a box is where sellers are lined up the center of the box is where both buyers and sellers believe there's fair value inside that price range the price range here is between 6013 and 5729 but the center of that profile is at 5977 very close to the top at the top there's just sellers at the center line there's both buyers and sellers in this case because it's so close to the top there's more sellers located between 5977 and 6013 however what price has done today it's overtaken that and a close above that which would be 3013 and I would say two closes above that so tomorrow would be suggesting that there's a real breakout above resistance on the daily time frame the last time that price was up here was on the trading day of December 30 it was January 2nd now the volume there was about 1.7 or 17 million yeah about 17 million shares you're at 17 million shares right now so you're pushing in that swing point with volume that's a nice thing the question is if it closes above that and by the way with regard to support so your downside action would be about 5729 unless it just got awful out there but that would be your support so you want to use that thought process with regard to what's your current holding price although I think you're taking a look at trying to just play this if I'm correct here just simply play this as some type of call option going into earnings or do you currently have a holding well I don't have a position now just going to get some call options but my like if there was no earnings report before I knew that before I looked up the earnings report I had a target up around 64 because of the AB equals CD kind of pattern yeah right so it looks like it and also there's a 61.8% Fib level up there around 64 so I was that's what I was going to target but before you know I take a position I always check the earnings reports I go no well well so resistance wise so one of the roles for us is to try to identify support and resistance and on the daily which we just covered the weekly and the monthly prices above resistance of its task market profile so support is going to be on any move lower it's going to be somewhere in those profiles could be the top of center of the bottom when you're above the top the top really becomes a potential support but you have to also look to what's inside there now would you take the call position should we take the should you know be it's breaking out but should you take what are the elements inside the charts to maybe suggest cost well price is moving higher doing less relative energy so if there were to be some type of bearish reversal candle say tomorrow other than you would not want to take that trade with because I would think that the markets would be signaling to you that prices at least going to pull back and test support we don't have that right now you just have a cautionary single signal on the daily time frame out here if I look to the larger time frame the weekly and it will go to the monthly on the weekly do we see any sign of a top we don't we don't from a pattern standpoint there's you'd mention an a to b equal CD pattern we take a look at it from a weekly standpoint prices moving up towards the 1.618 a to b equal CD level that would be 62 16 does not mean that price would stop there you're in wave number five on a weekly time frame that's not necessarily a topping signal price about steve's green line 59 48 so you know that that there's nothing bearish about the weekly chart for intel that I see and there's nothing bearish about the monthly time frame chart once we expand this out other than prices also moving higher doing less relative energy but until the bearish reversal candle shows up you know you you'd be guessing I would be I would be guessing to say that it's just a cautionary sign so I guess in the end I would be guessing to say it's just a cautionary sign so I guess in the end of the year you know you I don't see reasons to not take that trade but I would load up the truck necessarily I'd rather see you take that trade when Intel's really making a bottom you know and all it's doing right now is it's in this bullish mode and you're trying to figure out you know maybe where it's headed to is the level of support is right below the swing low of that slow ground bottom and is also a 50 day moving average right under there also yeah so on the daily so right under that yeah so your tools that's great so you've got that I would add to support levels other than the profiles my green line which is about 6013 give or take right now so that would be a level of support so for me the swing points themselves are not I've shied away from using the swing points as support or resistance but but I'm not going to try to I'm not going to talk you out of that I don't want to talk you out of that but here's the I think the question was really you're looking for information you know should you would it be advisable to take that trade I don't see with consideration of the earnings report coming up in a couple days yeah so that the earnings report piece of it that's why I was trying to understand you know your background with regard to has that worked for you because if it's worked I would never want to try to talk you out of it but here's what we know as we go into this break and that's real simple intel looks bullish it's got a couple caution signs but it looks bullish and so your signal suggests to take the trade I'm going to say go ahead and do it just don't back up the truck okay I think very much you bet have a great day and folks will be right back and I'll see you in the next one. This was born the Chapman wave sequence using the Chapman wave methodology along with other indicators Basil Chapman advises his subscribers of his expert market opinion each market day with his opening call newsletter right now you can get a two week free trial to the opening call Basil's daily trading newsletter by visiting the front page of TFNN.com cancel it anytime during that trial and pay absolutely nothing get your two week free trial to Basil's newsletter the opening call today by visiting TFNN.com the gold market has taken off top side in a large way in 2020 if you want to take advantage of this sector now is the time to subscribe to my gold report the gold report took profits in four of its equities in the gold portfolio in the first week of January for a combined profit of 99.2% with two positions left in the portfolio that have a profit of 67.5% as of January 7th the gold report is a comprehensive look at the metal sector as well as the markets that move gold which is the 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liquid form primal edge is powered by highly concentrated folic and humic acids nature's preferred delivery system they've been called miracle molecules because like sunlight, air and water life cannot exist without them that's right Paige, they ensure we receive all the nutrition we need to be healthy and thrive we take it every morning primal edge formulated and approved by NICO and Paige of living a primal lifestyle buy it today for just $89 click on the primal edge banner on the front page of TFNN.com this is David White stay tuned because coming up next is the power trading hour right here on TFNN welcome back folks let's get right to it with this last two minutes here CenturyLink formed a nice road to WinterMindicator top does that on November 19th what does price do pulls right back to the breakout level that was established by that TD set up 9 count at the 1264 level what is it doing right now it's taking on resistance at 1446 trade at 1451 a close above 1446 which suggests to move back to 1508 that's what I see when I take a look at CenturyLink that was for someone in the den JVD maybe John and Sarah Soto want to take a look at FXI his question is is a time to bail this is not for it but FXI let me get that punched in here if we take a look at FXI big huge gap to the downside I don't know where you're in from this is confirming a road to WinterMindicator top with today's gap to the downside that creates that well creates a gap a three river evening start the whole bit John a close I don't know where you're in on this but a close below 42.76 which suggests a change in trend but you absolutely have a topping signal that is in place so just simply be careful Hector the fuel injector wants to take a look at Facebook out here did Facebook breakout above its trading range here's your problem with Facebook right now as we take a look at it Hector it bottomed with what road to WinterMindicator bottom back on October 2nd you got the confirmation October 3rd what is it doing right now today let me try to back this up price has been moving higher effective today with less relative energy you've got a bearish reversal candy that was easy to candle that was easy to do with a small body candle from Friday what is price not done it's not closing below Stevie's green line but if it does and you see Facebook close below two 19 21 you should expect to move back to 203.60 to 209.69 area out there so that was for you Hector Wayne let's see if we can get this in he wants to take a look at Netflix out here again I'm just doing the daily charts out here and I'm doing them rather quickly but these are all good analyses if we take a look at what we've got going on with Netflix road to WinterMindicator topping pattern prices below Stevie's green line prices headed to 329.85 below that 313.55 folks thanks so much for being here stay tuned two more great hours of programming you've got the Tom O'Brien show of course before that you've got my favorite polar bear your favorite polar bear as well that's David White so stay tuned and I'll see you on wonderful Wednesday have a terrific Tuesday folks