 The following is a presentation of TFNN The Trader's Edge with Steve Rowe toll-free at 1-877-927-6648 or internationally at 727-873-7618 The Trader's Edge now Steve Rowe's Good afternoon folks welcome to the November 5th it is the Taco Tuesday the terrific Tuesday edition of today's Trader's Edge show I'm your host TV 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 is to always remember that life is happening for us not to us that's right when you and I make that one little 2x4 shift it means we can find the gift in every set of circumstance that life is going to toss at us not 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 and I just passed one o'clock in the afternoon I want you to know I am absolutely grateful for your presence here but much 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 on in an 877-927-6648 if you can't dial in we've got you covered go ahead send me an email do it early steve at tfn.com inside the subject heading please put radio show question of course our tiger's den any ping we'll do so let's go ahead get this show started on terrific Tuesday of course this is tiger financial news network I'm Steve Rhodes welcome to let's show right now we got a mixed market out here you've got the Dow trading up 57 points in the s&p down one point flat out there the ndx 100 is up 13 Russell's up to some eyes are up 12 New York Stock Exchange and Wilshire 5000 are trading slightly lower spot volatile to trade up 20 cents trade out of 1303 Goldilocks up 27 buck runes right now potentially getting ready to take out that really important low of 1489 20 it's not a low but that would be the bottom of its daily profile bullish structured profile that is we'll take a look at gold but closing below that it's sayonara baby if we take a look at the silver it's down 46 cents or about two and a half percent out there bonds are off a more one in about one and a half points as we speak trade out at 157 31 lead the charge dollar wise the upside we've got some leaders next cure is up 41 bucks 155 percent fair Isaac Corp is up 33 bucks or 11 percent regenerate pharmaceuticals up eight booking holdings up 1 percent or 18 bucks adobe up 10 or 3 percent ever bridge ink up 15 percent 10 bucks equinix is the big loser dollar wise the downside of 17 bucks then followed by market taxes holdings of 16 shakeshack down 16 myriad genetics of 14 so certainly things to look at but we're going to try to look at everything that you want to look at the first request really a follow up to as we're going into yesterday's last two minutes out there tried to answer three questions and I didn't really do give one justice and the one justice would have been D. R. Horton ticker symbol here is D. H. I. and the question is this individual is long from the thirties and wants to know the probability of the stock breaking above its all time high made in the fifty four level so here's what you know about D. H. I. ticker symbol D. R. Horton and that was yesterday's closes not what you wanted to see that was a close below the daily profile to expand out the daily time frame chart out here what you're going to see is coming off of the bottom in twenty eighteen December of twenty eighteen we really didn't see close all period of time where the when I say a period of time April twenty fifth through about May fourteenth we saw some price breaks or closes below the bottom of a daily profile we then saw that for a couple of days here in early June but for the most part that's a key support level so prices below that area again fifty one eighty six and what this suggests Allen is you should be asking the question not with regard to whether it's going to take out those highs but how low is this thing going to go so from a profile perspective you've got a brand new profile from a weekly standpoint form three weeks ago the top of which is fifty three fifty three so Allen prices back inside that range we would say that the downside target right now from a profile standpoint forty eight thirty seven to forty nine fifty two and if price closes below forty eight thirty seven the bottom of that bullish structured weekly profile then you're looking at forty two fifty five so you're exactly right in essence this made a measured move a hundred percent move of a move by getting back to its January twenty eighteen levels out here and so I think you need to be careful if we take a look at the monthly time frame chart out here the monthly time frame chart now the month of November doesn't end obviously for a while but what we do have is a confirmed TD set up nine count pattern that for that confirmed last month in the month of October so that's a topping signal now this would say sellers should be able to push price to forty eight sixty eight if price on a monthly basis close below forty eight sixty eight thirty seven sixteen is the nut price was also moving higher doing less relative energy that creates that roads momentum one of the one of the aspects of the roads momentum indicator top right now we're the fifth day in November you've got a three river evening star this would be more important as we get to the end of November but the monthly chart is saying extreme caution so watch those weekly levels that we took a look at those weekly market profiles out there if I take a look at a daily time frame chart here you can also see the price moving higher doing less relative energy generated the bearish reversal candle for that pattern and I think what I said is we're going off the air yesterday is don't let price close below that October October 30th low out there that low because that is a hammer candle the low by the way is 50 15 if you see a close below that what you likely have is an a to b equal cd to the downside that a to b equal cd to the downside would give you a whoops that didn't work out real well let's try that again see there we go that a to b equal cd pattern would give you a price projection uh one to one price projection in the 49 32 area 48 16 is your 1.27 2 expansion of 161.8 percent gets you down into the 46 68 so overall with regard to ticker symbol dhr or dr horton I know you wanted me to answer the question we'll make it and take out those highs again I would be more cautious and worried that this thing is headed lower or at least headed down to that 48 37 49 32 area out there and I hope that that assists you and helps you out with that trade um we've also got another question here from uh asking if they can go long silver this is bob why wanted to go long silver he wants to go along high hose silver today so let's go take a look at the metals out here but let's begin with I'll I'll move into silver but first let's take a look at gold I had mentioned this during the the opening of the show and when we're taking a look at here the december gold contract and on this chart you're taking a look at both its daily and weekly market profiles very much like we just took a look at for dr horton out here now when we take a look at this the key level of support is the bottom of the box already been tagged today the lowest 1480 to 10 the bottom of the daily box is 1480 to 40 a close below that because this is a bullish structured box meaning the center line is closer to the bottom of the box than the top so there's more seller buyers lined up or should be between 1495 and 1482 so prices held this level out here that is uh you know I can understand wanting to consider taking a long trade in gold uh I would say consider it but maybe not but folks I hate to be the bear or bearer of bad news but goldilocks is going much much lower steve roge with tfnn right back 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 2500 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' brian 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 clear water 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 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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 high definition 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 so let's try to answer bob's question about silver now so we're taking a good gold we know that gold is sitting at a key level of support if you see a close below that level it's curtains to the downside i can't believe bob that silver will start trading higher if gold is going to trade lower so that should be something to think about and the reason why we took a look at goldilocks first now if we take a look at silver it's not sitting down at a key level of support such as the bottom of its daily or bottom of its weekly profile that would be in the area where we'd be more inclined to say okay go ahead and consider taking that long trade on silver out here those levels by the way would be 1712 and 1717 the daily and the weekly bottom of its box now price is sitting at its center line for the weekly time frame at 1753 but if we were going to take a long position what stevie would like to see is some type of bottoming signal for you if we look at silver for three different time frames out here these three different time frames are showing us support and resistance lines these are the 30 the 60 and the 120 minute time frame charts these have the td set up nine counts out there and they also have the support the breakout support areas now when we take a look at silver under 30 in a 60 minute base you've got price breaking through those levels of support of 18 dollars and 1789 out there if you jump down to the 60 minute chart there was 18 and 1792 out here there was one even further back a little bit those are the red lines by the way on my screen that was 1781 you don't see a td set up nine count bottom pattern out here if i look at the 120 minute time frame chart then yes price has made it back to an area of support that must hold that's in the 1751 1764 area but i don't have any kind of bottoming signal on the shorter term time frame charts out there so very hesitant to suggest that you go ahead and take a a long trade the only reason is because i don't see the pattern out here that would suggest that you get into that trade so here's my suggestion and that is pay attention to gold that's by the way i'll pull over the chart same chart for gold out here so the same chart when i say the same chart i mean the same time frames right 30 60 and 120 minute time frames there is a td set up nine count pattern that is in effect right now for the 60 minute chart not under 30 minute time frame chart and price did come back on the 120 minute chart you can see it's testing this 1483 level of support but that breaks and at the bottom of the daily profile gives way out here this 60 minute nine count will do nothing more than just generate a little bit of a bounce out here i'm just not seeing it i'm just not seeing it to suggest that you should go take a long trade in high host silver but you've got the numbers you've got what i'm looking at put that together what you are looking at as well and then go ahead and fire away the daily time frame chart for silver today is not going to be a td set up nine count pattern because i can see already where prices trade in in relationship to bar number five and it's below that closing price out there you know but it did form one of those nice major tops with a td set up nine count all the way back at its highs back in september so i would just be very cautious here in the metals very likely the metals will continue to move lower through the rest of the year down into maybe the end of january-ish type time frame as a time frame to be looking for out there i would say just be very very very cautious and very patient and you know the weekly chart for gold folks here you've got a nice roads woman indicator top that formed out here price movement higher do a less relative energy out there and uh intermediate term i would not be surprised for us to see gold deluxe pull back to 1286 bucks on the way down but look one thing at a time we won't use that as the prognostication because there's other levels that will be watching i just want you to be careful out there because there are topping patterns that are present that are worth noting worth paying attention to and that's what i think you should do so no other questions that i see at the moment out here so let's go take a spin around the market see what we're doing you know we looked at the we looked at those short term time frames let's do the same thing here and looking at the es mini and looking at the es mini here in the 30 minute the 60 minute the 120 minute chart unlike when we looked at gold and silver which we're breaking through levels of support we haven't seen that take place in the es mini so what does that mean to you and i it means that we do not have a change in trend the first change in trend signal for me would be breaking a key level of support the inside the es mini on a 30 minute time frame it's 30 68 then 30 66 and 30 55 it's 30 68 on the 60 minute time frame chart you can see how price moved back to that level and is held in on a two hour time frame it's 30 37 until we see these levels break price is really doing nothing more than just pulling back and testing a level support and why are these levels of support really important for you and i to be paying attention to and the reason is is because of well a couple different reasons take a look at the horizontal trading ranges out here as well as that little diagonal rising trend line and that's the one coming off of the highs out here from this is so this is a january's highs as well as january 2018 as well as the september of 2018 levels and this is kind of an unusual version of a consolidation so to speak but none the less price right now is capping off at about that trend line give or take a few points out here so it's a reason to be cautious a reason to be cautious other reasons to be cautious if we take a look at the daily time frame chart for the es mini here what we're going to see is we're going to see that today is going to be bar number nine of a td setup nine count now we know that those highs can occur on bars eight nine or the bar following nine we also know that today was an intraday higher high than yesterday that continues wave number seven that's letter g on my screen out here we know that both of those are topping signals we don't have any confirmation yet but they're topping signals that you and i should pay attention to we can also see two a to b equal cd patterns that are in place the larger one that could take price up to 3105 the smaller one could take price up to 3090 that'd be your one to two a to b equal cd here's the deal until for those a to b equal cd patterns until we see some type of bearish reversal candle those patterns would just simply suggest that price wants to continue to move higher and we can see what those price projections are for those a to b equal cd patterns today's a little bit of a doji but it doesn't matter what the candle formation is at 125 in the afternoon it's what is the candle formation at today's close but we've got topping signals galore running into resistance trend line resistance out there and it just simply says it's time to be cautious in other words you and i we would not be surprised to see the market top whether it's today or of the course of the next couple days we would not be surprised to see that we won't get caught up into the euphoria so to speak if we take a look at the nq you've basically got the same thing it can see that little yellow diagonal rising trend line out here you can also see it's horizontal trading range boundary line at 82 37 we're trading at 82 29 if we take a look at the daily time frame chart here for the nq you'll see the same things you'll see the larger one to one a to b equal cd which is 82 31 that level's been hit we're trading at 82 30 today looks like it will also be a bar number nine of a td set up nine count it two is in wave number seven so you've got all these similar patterns out here these are the types of patterns that you and i use to help us understand what the markets are communicating to us and right now the markets are simply communicating caution what you would expect as you get up to resistance steve roge with tfnn we'll be right back i'm certain you are or strive to be one of the best of the best at everything you do in life it's the most common 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 roge 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 and p 500 for the last 12 six and three months timer digest also ranks me as the number one market timers 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 tfnn.com and get immediate access to workshops where i take you step by step how to use an extraordinary set of tools 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30-day unconditional money back guarantee don't miss out on this incredible new piece of software get your copy of the art of timing the trade charts today by visiting tfnn.com this segment is brought to you by think or swim for more information just click the think or swim banner on the front page of tfnn.com 52 S&P is basically flat out there we were taking a look at the equity market so we began taking a look at them let's uh let's go take a look at what's going on with regard to our TAS daily profiles we'll do that for Jay and Jay no new TAS daily profile so I know you didn't ask the question but but I know what you're thinking and that's a beautiful thing so no daily profiles new profiles daily or weekly uh that are even attempting to form because I do have Stevie's super Doppler program on here so nothing for the ES nothing for the NQ nothing for the Dow and nothing for the Russell 2000 out here so what we know is that price inside of the four equity futures contract still trading above resistance goes with uh you know really what we're taking so we've got these topping patterns but it's just really key that if there's going to be a change in trend a change in trend will start to begin uh you'll start to begin seeing key levels of support fail it kind of makes sense doesn't it if we just simply step back for a moment and say okay let's put together these objective tools help us understand where price is breaking out on different time frames if we're going to see some type of change in trend we're certainly going to see it first on the shorter term time frame so that's why we looked at those 30 and 60 and 120 minute now hey look if price closes below that doesn't guarantee that we're going to see that change in trend that's why we've got to go back to the daily time frame chart take a look at the patterns that are present take a look where support is and and then just simply monitor the trade uh that way but as we speak right now uh and it doesn't matter what we go take a look at uh in the equity futures contract if we take a look at the Russell 2000 as an example there's no levels of support that have been broken here the key level that price would need to close below in the Russell 2000 equity futures contract would be 1592 20 that would be the first level if price were to break below that then you'd be looking at 1563 out here so what is arguably the weakest in to see hasn't cracked just yet but that hasn't cracked as yet as as of 1 32 in the afternoon so the Dow if we take a look at the Dow just to finish those time frame charts out those 30 60 and 120 minute I don't want anybody writing complaints out here you can see the Dow equity futures contract also has not broken a key level support the level to be watching inside the Dow would be the 27306 area then 27290 and even 27207 but not there those would be the levels that I'd be watching today overnight if there's going to be a change in trend you're going to see those areas fail now with regard to a horizontal trading range we did look at the yes we did look at the NQ if we take a look at the Dow you'll see in essence the same kind of thing you'll see price testing the rising trend line resistance and if price can close above that or all the indices or equity futures contracts do the same the Dow equity futures contract would target 27825 next and then likely 28644 but remember well I don't I can't say remember how can you remember we didn't even take a look at the chart the daily chart here for the Dow equity futures contract it's also in wave number seven letter g it's also going to be a TD set up nine count pattern out here but it's a to be equal CD pattern as a price projection 28003 that's the biggie out there so we just want to pay attention to these patterns see how price trades and then we just simply will act accordingly but this way you've got the shorter term you've got the daily signals and lastly let's go take a look at checking out the new york stock exchange take a look at the broader market so to speak here is the signal the most consistent signal so far that's been present that says caution will robinson and that is we take a look at panel number two that's the advanced decline oscillator reading what you're going to see there if you look to the very right you're going to see a diagonal green line going from high to low versus if you look at price in the new york stock exchange closing price because we're using a line chart you're going to see price moving from lower to higher out there and it's those divergences that have meant something in the past now they typically mean a whole lot more when the spotball utility index is above its 50 day exponential moving average nowhere near that the current price for the spotball utility index is 1298 the 50 day exponential moving average is 1511 so it's got a long way to go before it will get up there the advanced decline line is still above zero inside the new york stock exchange so yes topping signals but nothing that's really been confirmed confirmation would come from a close below the zero line the zero threshold level of that advanced decline oscillator out here we don't have that in play as we speak right now so that's what the general markets are doing with regard to the spot ball utility index if we take a look at its symbols out here 1298 nothing wrong here still below all of the futures contracts that's actually the bullish configuration out here so i don't have anything in the spotball utility index with the tools that i use that are suggesting that we've got a top in place right now but we won't really rely upon the vix for that although there are signals that i use as you know you use them as well to help us identify divergences they just simply are not in place as we speak right this very moment so what else do we want to go look at you know what let's go look at this we had some calls yesterday uh one of those calls was on light sweet crude uh let's do that let's see if we can pull up light sweet let's do this here let's go ahead and pull up steve's synthetic contract and this way we can take a look at profile levels for the daily the weekly the monthly and the quarterly levels out here so let's let those populate and right now what we're taking a look at let me just get these chart here the formation of this chart so you can see what's going on from a profile perspective and right now prices trading above the top of its daily profile really was doing the same thing yesterday during the show and then i think began to sell off around three o'clock or so two or three two thirty three o'clock but the level to be watching today is 5692 that's for those individuals that or individuals calling that wanted to short lights we'd crude yesterday and we offered caution on that because price was trading above the top of its profile on a daily basis now it's trading into resistance on a weekly time frame that resistance level there is going to be 5754 so you're 5719 most certainly a price were to close above the top of weekly profile that would suggest higher price now you might say higher price to where and a Tucker he would be looking at these charts and Tucker would say that's easy Steve oh I would just go to the monthly time frame chart then and look to see where its profile levels are to see that the monthly profiles at 6219 a bullish structured monthly profile and then when you go to the quarterly profiles well it's a bullish structured quarterly profile with the bottom of the box being 4915 so 4915 5219 are key levels of support but those are larger term or longer term time frames out there but with regard to lights we crude if there's a close today above the top of that daily profile 5692 when it looks in and you'd watch one more price level out there that's the top of it so weekly box 5754 that's where you would then really see a nice move up into the 62 dollar area now Tucker wants to go take a look at natural gas so if we take a look at natural gas let's do this here pull over the natural gas contract take a look at its signals and Tucker very much like very much like the enq and the es mini out here what you've got going on right now is bar number nine of a TD setup nine count simply suggests caution simply suggest if you're in one of those ETFs out there increasing your stop because we are near what could be a potential short term top you've got the a to b equal cd pattern the one to one was 286 but the one to 1.272 is up at 305 and other than a TD setup nine count pattern that's the only thing that suggests caution otherwise price would be targeting 305 Tucker that's what I see when I take a look at the daily time frame chart for natural gas 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. 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the direction shares carefully before investing the prospectus and summary prospectus contain this and other information about direction shares to obtain a prospectus or summary prospectus please contact direction shares at 866-476-7523 the prospectus or summary prospectus should be read carefully before investing an investment in the funds is subject to risk including the possible loss of principle the funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor four side fund services LLC don't forget you can listen to tfnn live on your mobile device 24 hours per day go to tfnn.com and hit watch tiger tv that's tfnn.com then hit watch tiger tv for the latest market information welcome back folks so couple instruments being requested that we take a look at the first one is docusign ticker symbol here is docu this is coming from john and sarasota and john asks a question what are the charts see for this ticker symbol so one of the first things john if we just simply take a look at the daily and the weekly set of profiles out here we'll see that the daily prices back inside its box atop of which is 6817 and this would suggest that price should continue to pull back into about the 6492 to 6507 level now 6507 happens to be the top of its weekly profile any close below 6507 would suggest to move back to 6233 out here so that's the daily now the daily time frame chart is suggesting caution we're going to take a look at steve's other charts out here and the weekly time frame chart is saying maybe not so much because price is above the top of its box in the monthly just not enough data to provide you and i with any information now because i'm i'm what you don't know is all the things that i'm running in the background as i'm testing out new software applications and so my chart here is not updating docusign on the on the current bar so we know by taking a look at this bar out here today's bar which will not show up john on the white background chart right now that you've got a bearish engulfing candle is that a problem if we take a look at that uh yeah it is a problem because price has been moving higher doing with less relative energy so now you've got the bearish engulfing candle and that suggests that price is going to go ahead and pull back now i don't have any breakout support levels out here and so therefore what we're going to have to do is rely upon these daily profiles and so we've already given you the daily profile information to be paying attention to and that's going to be that 50 6507 to 6492 again a close below 6492 says 62 33 so if you're looking to enter this i don't know if you're looking to enter this stock or what you're doing out there the entry point would more likely be in that 62 33 area but we'd have to see what patterns might be going on uh as price were to pull back into that area uh tucker was asking and i didn't show this here uh during that segment but here he was asking about natural gas when we were looking at natural gas before the last break and what i was uh sharing with tucker was that if this is the december contract here for natural gas this is the contract that is a part of u g a z is the only thing inside of u g a z and u n g at the moment so this is the contract that we want to be following if those are the vehicles that you are trading and if we take a look at their key levels of support short-term tucker the price would need to close below well two dollars and 81 cents is both the breakout level in a 30 and a 60 minute time frame and it's two dollars and 81 cents quite frankly on the 120 minute so it's that 281 area that you really want to be paying attention to remember if you start to see closes below that we were looking at that td set up nine count pattern on the daily chart for natural gas as well as an a to b equal cd to the upside this would be the have then the makings of a potential change in trend or at least decent retracement uh for natural gas so these were the three time frames there tucker that i was referring to now let's go take a look at platinum or plating which one is it it's palladium sticker symbol pa out there so if we go take a look at the palladium give us a moment here to switch over i believe palladium is the december contract is that correct ruby well that's the one we're going to go ahead and focus on right now and if we take a look at plating i wonder can i pull that up on my other charting system right now give me a moment here just to punch that in and didn't like that that's a bummer out there but if we take a look so so i i know what i can do i know what i can do give me a moment here i just have to do this off screen my apology but what this what the screen that you folks are looking at are showing you the daily and the weekly task market profile so those are helpful to you from a daily perspective you can see it's trading inside of the box man h and j k hillamon p there we go uh see how good i am with regard to my alphabet man i've i've totally got this under control but palladium why didn't it pull it up for uh uh what a bummer well uh sorry i cannot pull that up on my other charts there ruby so we're just going to have to go with the profiles let's expand out on the daily time frame out here and price is just simply trading with inside the box out here i'll try to get that set up for you tomorrow here this suggests that price may pull back to support 1712 nice uptrend doesn't look like that uptrend has changed yet but if you did see a close below 1712 60 that would be the first indication of a further retracement and by further retracement the only place i can go to right now would be the top of the weekly profile that's the right hand panel chart let's go ahead and expand this out and that's at 1595 90 so everything here looks pretty bullish let me take a look at the a to b equal cd patterns out here inside of uh palladium yeah yeah uh watch 1712 60 out there ruby that that's what i see when i take a look at uh palladium uh take a look at the december contract i hope that that helps you out and hopefully tomorrow i'll have a palladium for you on my other chart so that we can do a little bit more in depth and perhaps a better review of what uh palladium may be doing out there you're welcome so no other requests no other questions out there uh two minutes left in this segment so the question becomes you know what do we want to look at what do we want to look at what can i share with you that would really be important and i don't know what the answer is there um i know that we've got to really be cautious inside the equity markets right now and we really touched on that what i didn't do is is kind of take you through all of the charts out here so for example all the intraday charts here's your five-hour time frame chart your five-hour time frame chart for the es mini is topped with a td setup nine count price moving higher doing with less relative energy the bar that is in formation right now is going to close at 2 p.m so about 12 minutes from now and that's going to generate a bearish engulfing candle now what price has not done inside the es mini on a five-hour time frame is bus through support now support here is going to be the bottom of that profile which is 30 69 88 the es mini can't trade 88 but if you did see a close of 30 69.75 or lower out there that would be suggesting a change in trend or at least a topping signal that price should be able to push back to the 30 37 level out there that is the s and p 500 time frame five-hour time frame chart for you so it has a topping signal pattern it's actually going to confirm the road to me indicator top as well as a nine count top if we take a look at the two-hour and 40 minute time frame chart what we have out here is you've got a confirmed roads momentum indicator top here price would need to close below 30 70 that's the bottom of its box if it does it suggests to move to 30 33 so a confirmed topping pattern in the four hour in the five hour if we take a look at the two-hour time frame chart out here you also have a confirmed roads momentum indicator top now here price did close below support which is about where it's trading right now and this would suggest that move to 30 37 but what you do is you pay attention to the four hour and the five hour time frame charts to watch to see if price can close below the bottom of those profiles as we take a look at the 60 minute time frame chart what do we have here we've got a roads momentum indicator top the key level of support not be watching here for the one-hour time frame is that td setup breakout level 30 68 75 so what the es mini has it has topping signals on the daily time frame a confirmed topping signal on the five hour on the four hour on the two hour on the 60 minute and on the 30 minute time frame and so john and the den this is why i am more cautious about the s and p 500 at this very moment in time since 1984 basal Chapman has been using the Chapman wave methodology to advise traders of his expert market opinion well originally hand drawing charts from the late 1970s into the 1980s basal noticed that prices under most circumstances virtually always had a certain number of legs to the upside before declining sharply later basal found that computer software which included the standard market technical indicators enhanced the degree of accuracy and calling price turns as well as market trend calls thus was born the Chapman wave sequence using the Chapman wave methodology along with other indicators basal 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 basal's daily trading newsletter by visiting the front page of tfnn.com cancel at any time during that trial and pay absolutely nothing get your two week free trial to basal's newsletter 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today for just 89 dollars 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 so uh john and the tigers den had asked about uh you know have if i abandoned the theory that the uh 2019 market is emulating the 2013 market and will move higher out here so here's the es many for 2013 and uh the pattern that it was forming on the trading session of october 22nd was a td set up nine count now we're we're past that in this case here that topping signal never took effect a td set up nine count we'll do one of three things we'll either see a turn we'll see a little move sideways or we'll just simply see a continuation moving on what we do know folks is that when we do see these signals present it must give us pause now you might say and take a look at the one from october 22nd well what good was that stevo well in 2013 if you took a look at december 31st new year's eve which identified the short term top out there it was with bar number nine of the td set up nine count so these patterns work they're enough to say we need to be cautious out here and that's really what we've got so we want to just simply watch how the market plays out we'll put that together by taking a look at the short term timeframes out there its signals its levels of support out there and just simply act accordingly so if i've learned any one thing it is to watch for these topping and bottoming patterns nowhere support is support must be broken and if it doesn't then the continuation of that existing in this case here support has been broken bullish trend would remain in effect and even here we had the roads momentum indicator back on november the seventh all price did hear john was come back and test the bottom of its profile of that daily box out there and just simply took off from there so we'll just simply continue to watch these patterns these are the patterns that are present inside the inside the es mini the nq the ym out there i mean here's a perfect example of what we're looking at where you've got both wave count number seven letter g and bar number nine of a td set up nine so i think in the next several days john will know whether this is just a cautionary sideways move or something more than that steve roge with tfnn folks stay tuned two more great hours of programming david whites up next tom o bryant from three to four i'll be back with you on wonderful wednesday have a terrific tuesday