 The following is a presentation of TFNN. The Traders Edge with Steve Rhodes. Oh, toll free at 1-877-927-6648 or internationally at 727-873-7618. The Traders Edge. Now, Steve Rhodes. Good morning, folks. Welcome to the April 12th. The wonderful Wednesday edition of today's Traders Edge show. I'm your host, Steve Perseverance Rhodes, who absolutely knows that each of us should always be pioneers of our future versus prisoners of our past. Hope everyone out there is having a great day. Let's make sure we have an extraordinary one. 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 check on the circumstance of these markets. We'll go figure out what those bulls and bears, what those buyers and sellers are communicating to you and I at just past 11 o'clock in the morning. I do want you to know I'm absolutely grateful for your presence here, but even more important than that. And that's this. During the next 53 minutes, I'm here to serve you. So feel free to pick up that phone and dial on in 877-927-6648. Now, if you've got a question, but you can't dial in, you can always email that to me. Send that off to Steve at tfn.com. And if we kind of have to put radio show question inside that subject, that would be great. And of course, inside our Tiger's Den, we'll just like code any ping will do, private or public. So let's go ahead and get this show started on wonderful Wednesday. This is Tiger by National News Network. I'm Steve Rhodes. Welcome to the show. We got U.S. indices with the exception of the New York Stock Exchange trading the downside. New York is up 30 points. The Dow is off 35. S&P down 10. Nasdaq off 75. Russell down 6. Semi is off 38. Spotball of Totex is still below. It's 50 day expense will be an average. So you kind of chuck one up there for the bulls at the moment. Gold's up three bucks. Silver nine cents. Let's recruit us up a buck. Seven natural gas is off seven cents. 30 Treasury is basically flat at 132.12. Lead the charge. Dollar wise the upside. You've got Triton International up 20 bucks or 31%. Chartered industries up about 10 bucks or eight and a half percent. Solar edge up about 2% or 5 bucks. Mercado Libre down 25, 2% Avis. Budget down 14% or 7 bucks. 7% I should say 14 bucks. Cirrus Logic off $12 or 12% Chartered Communications 10 bucks. About 3%. So we've got some movers and we've got our shakers. But what we have right now is a question. That question coming in from Brent in Martinez, California. It reads like this. Can you please look at the Russell 2000? That's why I'm reading you the question because we're going to go switch over and take a look at the equity markets out here. We're going to begin doing that by taking a look at the Russell 2000. So we'll change over to our white background screens here. Let's finish reading the question goes like this on a shorter term time frame charts. Anything indicating a potential bottom. We have nice pullback from that 5.30 a spike high. What do you have for volume on the spike? Compared to the bar at the 6.30 open. Thanks so much. Have a great day. So we're going to just do the overall analysis here. We'll begin with the longer term really, which would be the daily time frame right now. Daily time frame upper left hand chart. You see that nice roads meant to mitigate her bottom completes with that nice bottom hammer candle or bullish hammer candle. I should say at the bottom of its profile. We have good old fashion consolidation with inside the profile. The Russell's got support at 17.22. But that asset and change line has really acted as support ever since March the 27th. So we're going to call it about 17.66 out there as support and resistance 18.25. So that's a bigger picture, Brent. You want to keep that in mind on a five hour time frame chart price got right up to its TD nine count breakdown resistance area at 18.20. And it did it with a TD nine count pattern. Now prices below the asset are in chains line. Its level of sport to be washing to the downside out here suggest 17.86 to 17.77. That's the area to watch on a four hour time frame chart. What do we have out here? We don't have much. What we do have is price consolidated with inside a bullish structured profile. So Brent, the number on a four hour time frame to watch 17.83.40. The two hour time frame chart does have a confirmed roads meant to mitigate her top price is trading below 17.94. This current session here is going to close at noon. So as we get off the air, the Russell 2000 Brent, if it's closing, if it is trading below 17.94. It is headed lower. I know you're asking for support, but we're just kind of stepping through this on a 60 minute time frame prices below profiles. 17.66 could be a price target 17.88 for the 30 minute time frame on a 15 minute basis. What we have out here is the area of support would be 17.87.80, 17.85.20 and 17.82.50. Those are TD9 count breakout support levels. And on a 10 minute basis, and perhaps this is the one that's most important to you. On a 10 minute basis, what price is doing as we speak? Oh, what price did? It broke through a TD9 count bottom. So this didn't even have a hiccup. It formed the following bar number nine. It did that 11? No. Did that 11? What can this be? Oh, it's 10 minute charts. Okay. It's DB wake up and at 11.10 it negated that signal. Now it does have support at 17.87, but no bottoming pattern, which I believe is what you're asking about. Now we just have some support levels out here. 17.85.50, 17.87.80 when it comes to the 10 minute chart. So the Russell 2000 is suggesting that it wants lower price. And it may be really targeting that 17.66 level out there. So that's the first thing Brent. Of course, if you're on the phone, I would say, do you have any other questions or how can I unconfuse you about something I've said? Well, you're not on the phone, so I can't do that. But what I can share with you, and really everybody else, what meaning should you take today with regard to the reversal? What meaning should you take? I know many right now are saying that's it. It's game over. Well, that's a possibility. However, let me give you something to think about. Now this is not the Russell 2000, it's the S&P 500. I've taken the last 15 years worth of data. This chart that we're taking a look at is how the S&P has responded 10 days before, that's 10 days before this red vertical line, and 10 days after the U.S. Consumer Price Index data is provided to us. Turns out that the day of the Consumer Price Index, we see markets move lower into tomorrow. So what's going on right now to a certain extent is exactly the way the S&P 500 has behaved over the last 15 years. Now let's take a look at the last 95 years. What do we have out here? Same kind of a situation. What if we take the last five years? Same kind of situation out there. So what we are seeing unfold here, don't get too ahead of your skis out there, you know, because you could crash, you could end up being on that ABC Wide World of Sports. I know they need to show that more often out there and you don't want to, you want to do that. So what the markets are doing Brent, as we speak right now, we don't know if we'll lead to something else. We can take a look at key levels of support and whether those areas get broken or not. But at this stage here, the market is actually behaving the way that it historically has done on average over the last 95 years out there. That's right, the agony of defeat, Dano. So now if we go take a look at, let's go over to the black background charts here. Let's take a look at those daily timeframes out here. Brent, I'll assume you don't have any other questions. What else do we know? Well, when I take a look at the EES mini, we had talked about how it sells the D point pattern, the price out there. Only a close of about $4173 would negate that pattern. But price also did test so far and reject the low of the swing point from February 2nd. So we've got a, and I don't know what kind of volume, we'll have to check back at day's end on that. But you do have the possibility, okay, you can't bust them out. We're trading with inside the EES mini profile. Maybe price is going to get all the way back down to that 40, 76 level out there. But don't forget this. The last 95 years, the last 15 years, the last five years, when the CPA data is released, the market moves lower that day and then begins moving higher. Steve Rhodes with TFNN. 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 Kegstad's Tiger Forex report. Teddy Kegstad 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 at 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. 727-873-7618 Well, good back folks. Let's get to some of our requests that have come in here. One that got away from us yesterday is KBR, and my apology, I don't recall who asked for that, but KBR closed above a TD9 count top yesterday. It closed above its TD9 count breakdown resistance. This is a suggesting higher price. There's an A to B equal CD pattern underway that would get us up to about the $60 area. Your bullish on the weekly, your above profile, the greenhouse that are in chains on your bully on the monthly timeframe, although price is running into resistance on a monthly basis. That resistance stands at $56.94. You're at $56.69 right now, so close to about $56.94. On a monthly basis would be a very bullish outcome. Today with regard to KBR is going to be, it looks like, it'll be day number three of consecutive moves higher out there. We have seen this make a three-bar than a one-day move, a four-bar than a two-day move to the downside, so I would expect that you will see some type of retracement unfold either tomorrow or Friday out there, and it just may be a one-day move to the downside. If I take a quick peek at the 30-minute timeframe chart right now, it's trying to set up a roadsman to Mindicator top. It's actually been confirmed. It did that at the 11 o'clock hour. So now what we need to see is, well, $56.27 hold that support. That's the bottom of its profile. Price closed below that. You're likely headed back to the $55.43 level out there. So that's what I see when I take a look at KBR, and thanks so much for your patience of waiting an extra day. The next request up is from Kota inside the Tiger's Den. There's a few of them. The first one is the TLT. So if we take a look at the TLT out here, it is trading right now with inside its profile. So this is probably the most important piece of information Kota that can provide to you. Its support level is 104.13. Resistance level is 108.87. You're really in the midpoint here. You're trading just below its green oscillator and change line. If it closes today below 106.93, it suggests it lost its momentum, and that could be signaling the target of 104.13. The weekly timeframe, you've got basically a consolidation with inside its profile. The monthly timeframe, it's the red oscillator and change line is your resistance level. The pricing close above that, which is pretty much where we're trading right now. That could signal move to 112.04 out there. That's what I see when I take a look at the TLT. Now on a 30-minute timeframe, this is trying to confirm a roadsman to minicator bottom. I say try because we don't have that bullish reversal candle just yet. Resistance here on the TLT, 106.97. That's on a short-term timeframe. That was a 30-minute. So Kota, I hope that helps you out with regard to the TLT. Your next request was to go and take a look at K-W-E-B, K-Web out there. I believe that is the China Web Service, if I'm not mistaken, or ETF that is out there. So K-W-E-B, it is trading right now at about 2880. I say about, I need to check to see if I've got this time delay. It's really a data delay, but nonetheless, I would like to give you accurate information about K-W-E-B. See where it's trading at, about 2887. So we're pretty close right now. What it's doing is trading below profile and it's trading into a swing point or trying to trade into a swing point low from March the 15th. Now it hasn't gotten there. The top of that swing point, Kota, you've probably already identified this, 2840. Now the volume on that swing is 22 million shares. Today you've done about 10 in less than two hours of trading. So this has got volume as it's pushing towards that swing point. I would say K-W-E-B is going to target that level, 2840, but close inside there with volume, meaning more than 22 million. Then it's likely getting down to 2769. That's certainly supported by the weekly chart which is trading below its red oscillator and change line. So that suggests lower price. And the monthly just got a consolidation with inside its profiles out there. So not much more to add. This will be K-W-E-B. This will be day number three to the downside of consecutive moves. It typically does three, two, three, and four bar moves to the downside. So K-W-E-B should form some type of short-term bottom today or tomorrow, I would say. But otherwise it does look like it wants to really target that swing low. The next request out here is to take a look at FXI. I believe that is one of the China. Is it the China 25 large cap stocks out there? Well, we take a look at FXI. It shows on my screen, about 2860 where 2853 on the white background screens. Closing today below 2883 will be closing below the bottom of its daily profile that likely triggers an A to B equal CD to the downside. Now the B point has 34 million shares. You've done 15 million already. So it looks like you're getting a confirmed A to B equal CD to the downside. It's not a gigantic one. There's your A to B. I'll just move this over to the C point as soon as I can grab it. Price is really doing his gunning for 2776. That is it's a TD9 count breakout level. A bullish reversal candle once it gets towards 88, 2820, 2019, some right around there. A bullish reversal candle would then confirm a Gartley buy pattern. But right now you've got what appears to be a confirmed A to B equal CD to the downside. So I do hope that helps you out. And lastly, what Kota was looking for was some advice on silver. So if we go take a look at the internet charts we can see the daily shows a TD9 count top out here. And that would be negated today with a close above that high, which is 2529. We're 2537. So watch 2529. Now, there's also a possibility that it could negate one top and create another. We can see a rogement dominicator signal has been triggered. At the moment it's a bearish shooting star candle. The candle 1124 is not the candle we're interested in. But if you look back, there's the potential that you get a rogement dominicator signal if in fact that gets taken out. And if you don't get a bearish reversal candle and price close above that, that tells about a strong moment to move for silver to the upside. As we take a look at the five-hour time frame chart, TD9 count top 2491 would be support. TD9 count on the four-hour. Rogement dominicator top on the two-hour. Rogement dominicator top on the 60. The same for the 15 and the 10 out there. I would be watching to the downside. It looks like the key area of support right now 2518. A close below that is going to suggest lower price down to 15-minute basis. That lower suggest would be 2509. But breaking support would not be a very good thing out there. Price right now is testing resistance. So CODA. That was K-Web. That was FXI. That was silver. It might have been a couple of other things out there. I hope that provided you with the information that you're looking for. If not, please go ahead and write back to me. I didn't get a chance to see the response. If there was, yes, that was from so Charpin inside our Tigers Den wants to take a look at Bud, BUD, Budweiser out there. Let's go ahead and populate it on these charts. So that will take just a moment. Budweiser right now trading out at 6422. My system says 6387 is the screen that you're looking at. Now, this could be generated by A to B equal CD to the downside. So it closed today, Charpin, below the price point of 6403 could trigger or would trigger an A to B equal CD to the downside. Now, the volume there was 3.8 million. You're at 2.6 already. So you've got to watch that. Now, this chart here shows it doesn't have the accurate price. But let's take a look. So you've got a TD9 count top that may turn into an A to B equal CD to the downside. So here's our A to B point. Now, we're going to copy and paste this one. Why I don't know? I'm just going to do that. I'm going to try to do that. I always like to do what I say I'm going to do. There we go. So now we're going to copy and paste. And that would get us down towards the 63 level. But you'd be waiting for a bullish reversal candidate to confirm a bottom. The other price chart could be 6113. 6272 on the weekly. So 6113 is the daily. And those below that, you likely have a confirmed A to B equal CD to the downside. And that number is 6403. Steve Rhodes with TFNN. We'll be right back, folks. Of course, I'd love to hear from you. More questions, please. You're right. To see for yourself the types of profitable trades that are recommended within the Gold Report, sign up now by visiting TFNN.com. Don't miss out on the next great gold trade. Sign up today. And now they are expanding their reach with the Tiger's Den. Available to all Tigers and Tigris for just $1 for the year. There's no cash or added costs when you join our community of traders. In the Tiger's 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 join our community. 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 Tiger's Den at Discord is accessible on mobile or tablets as well, so it's always at your reach. To sign up today and become a part of this educational community of traders, just visit the front page of TFNN.com. Sharpening your skills as an investor is like getting better at playing a musical instrument. Practice, sure, but you also need excellent instruction from experts. At TFNN, you'll get advice and guidance from the authority in technical market analysis and it's not just dry, tedious text either. TFNN airs live financial content streamed live on TFNN.com and TFNN's YouTube channel with Tiger TV, live every market day from 8.30 a.m. to 4.00 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 8 different shows with expert hosts to help you make the right moves with your money. Watch online at TFNN.com or on TFNN's YouTube channel and become the investor you were born to be. TFNN, educating investors. For more information, just click the Think or Swim banner on the front page of TFNN.com Back folks up TFN breaking news We've got some TFN breaking news What is that breaking news, Steve? Well, let's go take a look at the market breath for the S&P 500. Those are the speed dials and you're up the right hand side. You'll see that each of those are in the green zone. What does that mean? That means market conditions for the S&P 500. For its weekly its 4-hour and its 1-hour timeframe is bullish. It is market breath bullish. Let's go make sure of that here. We've got right now 315 instruments on a 60-minute timeframe trading above profile, 75 below. Be careful out there to the short side. Be very careful. This is breaking news. If we take a look at the 4-hour timeframe chart, we've got 308 above, 61 below. Let's go to the next level up, the daily timeframe 248 above, 48 below and finally let's go take a look at that weekly timeframe we've got 139 above, 86 below. The S&P 500 is saying I'm bullish. This is nothing more than the traditional CPI index one day knee-jerk reaction. That's the message as we speak right now. But how about the NASDAQ 100, Stevo? What's the NASDAQ 100 off about 410-48 points? What is it doing from a market breath standpoint? Turns out this is doubly breaking news. Bullish for its weekly. It's daily. It's a 60-minute timeframe. Let's go take a look at what those statistics tell us. 52 above, 30 below for the 1-hour chart. 4-hour timeframe. We've got 44 above, 17 below. That's very bullish out there. Daily timeframe, 41 above, 13 below. And finally on the weekly level, we've got 35 above and 9 below. Those are very bullish, TAS, market breath, market conditions out there. The question is, do we see any kind of a bottom signal? And here's the NQ out there and the only one that I see that sticks out at me, now this is the 4-hour timeframe chart. The current bar doesn't complete until 2 p.m. And even though bar number 8 likely is going to complete, and that can be the identifier of a TD9 count bottom, that following bar is not going to complete until the end of the session out there until this evening. And so therefore, now price has made its way back to 13005. That's a TD9 count breakout area. That level has been tested several different times. It has held. Maybe it will hold this time as well. So you've got a TD9 count bottom to consider at days. And this is really lining up with regard to that seasonal or that event cycle. It's not a seasonal cycle, it's an event cycle that we just took a look at with regard to the CPI data. Now that's the 4-hour timeframe chart. What else do we have out here? What we don't have is a bottom signal per se. Let me take a look at this 15-minute chart out there. And I don't want to force anything. Now there's no A to B equal CD pattern. That's for sure. It looks like this, folks. This is what my eyes were taking a look at. I wanted to see if maybe we had a buy the D point. But clearly that's not the case when I expanded this out. We can see we're... So I don't have a bottom pattern for an intraday timeframe chart. Whether it's a buy the D point, some type of TD9 count, arrangement, to indicator signal, I got not a bottom. The only thing that I've really got out here is the bottom of the 2-hour profile of 12, 9, 87, and that breakout level that we took a look at on the 240-minute chart. But folks, now this would also be on the NQ. Let's say inside the NQ this could be day number 2 of consecutive pullbacks. That's typically where we would see the market at least bounce from there if not bottom. So something to consider. Let's go take a look at the EES mini. So we have the EES mini data. We've got the NQ data. Let's go see if there's any kind of signals here knowing that we've got knowing that we've got the positive market breadth for the S&P and for the NASDAQ 100. So let's get back here. Let's get the EES mini pocket. Of course we already know there's a top out there and that was the sell the D point and that was tested as well as top of the profile today. But real key level of support on a pullback outer is going to be that green color and change line. 4105 is the current print right now. Rosemont Dominicator top on the 5 hour price just finding support at the top of its profile. That's bullish. That makes a lot of sense with regard to what we just saw out there in the 240-minute chart. 240-minute chart it's got a Rosemont Dominicator top out here at price finding support at the center of its bearish structured 4-hour profile. Countertrend moves would typically find support there and so far the EES mini has. If we take a look at its chart I'm not seeing any kind of bottoming pattern out here again that 15-minute chart I don't believe that's got the A to B equal CD well let's go measure it just in case visually I can easily be off here so let's go A to B let's just move that over now there's no way it's got to be the same thing as we looked at inside the NQ. Oh I say it does but Stevie was wrong wrong again. No you've got it confirmed at least 15-minute by the D point pattern. Now what that should do folks is that should take price up to its Oceter and change line it changed colors if price test rejects that test it closes back below it stays below that red Oceter and change line then that market breath that we just took a look at is going to get chipped away whereas if price closes back above it then you've got a battle at least at this moment in time up at the 41-52 41-60 and 41-73 level that's courtesy of the 15-minute time frame chart for ESMini which does have a confirmed bottom pattern which should take price up to that Oceter and change line again printing around the 41-41 area out there so that's what I see when I take a look at ESMini and the NQ again that was a TFNN breaking news alert out there let's go to our next request this coming in from Nicholas and Nicholas wants to take a look at Tesla so let's get Tesla out here give me a second TSLA and let's actually get to Nicholas's question which reads like this would you go over Tesla thank you and have a great hump day well thank you Nicholas and good morning to you as well so we take a look at Tesla out here Tesla has a new profile that formed so let's take a look at that the new profile has got support at 17928 and resistance at 188 78 so that's what I see when we take a look at the daily time frame chart here for Tesla what else do we see I don't see anything much else anything much else sign me up to teach English on a weekly time frame chart good old fashion consolidates with inside that profile price testing support right now the bottom of the profile price consolidating inside the monthly time frame so I think you've got just basically a good old fashion consolidation going on inside of Tesla out here and not much else to report on that I can see so Nicholas I do hope that helps you out thanks so much for the request there was a question inside the Tigers den to take a look at the what do you want me to take a look at shoot where did that question go thank you thank you XLF carry okay I got okay combination at the XLF the carry short the carry let's take a look at the carry so let's look at the regional banking index out here and the carry let me get to my other screen see what it's actually trading at make sure we're all set up right carry is trading out at the forty two sixty one right below the bottom of its daily profile so an area to watch out here is gonna be forty two eighty seventy to get a close below that it would signal to us that price may want to get down and test that oscillator and change line and likely test the swing point low from March the twenty four that's a candle had forty seven million shares so far you're only seven point three so you're trading into the swing point with light volume but if you do close below forty three sixty seven you can easily get down and test forty one twenty eight out there so that's the first thing but you do have a valid bottom precious has been really trading sideways out here no bottom pattern on the weekly no bottom pattern on the monthly the monthly says over time what price like to do is get back to its breakout area that's at thirty four seventeen out there but I'd be watching right now is a forty two eighty seven close below that odds favor around forty seventy odds favor a test of forty one twenty eight that's that low from the candle session of March the twenty fourth out there so I do hope that helps you out lastly since I hear the alarm going off in my ears is you've got a rose midderminicator top on the thirty minute chart and price likely targeting forty one ninety see roads with tfn you're right back you might think that if you want to be successful at trading in the stock market you're going to need a crystal ball after all it's impossible to predict the future right like any endeavor in life before you decide it's impossible get some advice from the experts you might find that it's not so impossible after all for daily market overviews that give you direction on the key indices selective stocks and commodities subscribe to the opening call newsletter at tfnn.com the opening call newsletter is written by basal Chapman creator of the trading methodology known as the Chapman wave the Chapman wave up down sequence gives you an edge in identifying price turns finding the peaks and valleys in stock prices get the opening call newsletter by basal Chapman in your inbox every day first time subscribers also get a 30 day money back guarantee if you're not satisfied let us know and you'll get a full refund within 30 days of signing up 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 and investors in the market. This program is brought to you by Vista Gold traded on the NYSE American and TSX under the symbol VGZ folks so you got a mixed bag out there right now Dow's up 30 Nasdaq 100 is off about 37 the S&P is flat the Russell's down for the semizer up 30 to Gold's up 3 bucks silver 16 likes we could up a buck 9 natural gas out 10 cents we'll take a look at that this morning 30 or Treasury is basically $1.3213 we'll take a look at the XLF this is for Dano as well so we take a look at the XLF versus the regional banking if the XLF can close the day above let me see 3234 where to close yesterday 3234 right on it so yesterday you had the volume but it didn't close above the swing point 53 million shares we're taking on 45 million shares so far today you're at about well you're up got volume 21 million shares if the XLF closes above 3234 you're going to have a confirmed A to B will see to the upside that'll take us up towards that 3429 area so different look here in the XLF versus the regional banking on a weekly timeframe I don't have a bottom pattern and prices trading inside its swing point still it would need a rejection of that swing point that would require close above 3219 at weeks in your 3230 on the monthly timeframe chart price just consolidating with inside its profile where it has supported 3150 so with regard to the XLF watch that swing point high prices look prices above the top of its no it's back inside its profile it's above the bottom of its profile but it is attempting and it's got volume on the move higher it is attempting to form an A to B will see the upside the one to one on that should it do that and it hasn't yet but do you want to you will certainly want to watch this would turn out to be more than a one to one A to B to B to D now Stevie says that but how can it guarantee it and the answer is no can't guarantee it what I can share with you is that retracement is a 0.38 two or less and that says that this would should you close above that swing point from April 4th you would likely get more than a one to one A to B will see the upside again this gives us that price target around 3429 out there so that's what I see when I take a look at the XLF data hope that helped out with both the KRE and the XLF you there. Greg writes and he wants to take a look at the US Bank Corp USB is a ticker symbol so let's get to Greg's question and Greg thanks for taking the time to write in would you take a look at USB it had a TD9 count which was broken to the downside and now does come back to that level is also forming a flag at the bottom you've been watching you've been watching to take a long position what levels would you look at thanks Greg so when I take a look at USB you just have a consolidation right now with inside its profiles so your support level 3489 resistance 3652 therefore if you want to start a position here why don't you do it at about 3489 you got down to as low this morning as 3497 so you don't have to use 3489 on the right to the T but that's what I would be looking at this does have a rogement to indicator bottom and that form when price gapped up on the trading session of March of 21st so a little bit of a consolidation no bottom pattern here on the weekly time frame you do have price that is trading with inside its profiles so you've got 3489 as profile support on the daily Greg you have 3443 as profile support on the weekly you have TD9 count breakout support at 3417 on the monthly time frame chart so use those numbers as your parameters should you go ahead and take a long position here what you really want to see is some kind of sign of strength coming off of this bottom so you could have a lot of accumulation that goes on for quite some time out there and no we've not seen any kind of sign of strength off of the bottom so I hope that helps you out thank you so much for taking the time to write in you mentioned the TD9 count pattern and that TD9 count pattern lasted for about a day this I'll take that back yeah lasted for one day that pattern got negated so it formed on a March 13th that completed the next day and then the following day on March 15th price closed below that but it did go on to go it did go on to form a you know there's a there they're a to be equal CD to the downside patterns but we don't need to draw that in on this daily time frame we've got a Roachman Dominicator signal price consolidating with inside his profile so that's where we'll leave it with regard to USB and Greg thanks much for taking the time to write in our man in the Tiger's Den that is G man he watched in and watch take a look at meta system so I believe you're in a long position out here so we take a look at meta or Facebook what we have out here is both a TD9 count and Roachman Dominicator top so you've got two topping patterns but price is way above profiles let me check on my other system which would show a new profile if one is attempting to form and we do not have that wow so we take a look at meta we've got tops in place out there but what you also have G man is sideways movement so in other words sellers have not bought in to the fact this has got two different topping patterns if they got in if they bought into that well then what you should see meta do is make his way back to 197 90 other than that's that's that's the area of support out here for a daily time frame if we take a look at the weekly looks like an A to B equal CD the upside let's see if there's volume on each near the B point which says Bart which says see on my screen because that's part of the Chapman way but the B point is February 3rd the week of February 3rd 340 million shares traded hand so as price closed out you had 140 you had 104 you've got 84 from last week so here's one of those A to B equal CD patterns not confirmed by volume but most certainly confirmed by price and that works too and this is a gigantic A to B DT upside well I take a look at the weekly time frame chart let's try to draw this in here well we are going to draw it in it's just a matter of I kind of scrunch the chart in order to be able to put this in there so we're already up past the 280 mark and this is obviously much less than a point 3 or much less than a point 618 retracement that says around 277 on a weekly basis over time is where Facebook or meta likely wants to head to when you look at the monthly time frame chart prices above the top of the monthly profile one ninety seven oh six so you had a weekly TD 9 count roads meant to be indicator bottom you've got a daily TD 9 count top roads meant to be indicator top but we've seen that price hasn't bought into it it must be the weekly and the monthly charts that are telling you why it hasn't bought into it if I take a look at a 30 minute time frame chart out here not if we are going to what do we have not much TD 9 count top it's led to basically a sideways move between about 210 up to about the 217 level out there so Facebook g-man it looks pretty good I know you I believe you were long and I would stay long cautiously long simply because that daily pattern out there but Facebook looks like a good long-term position out there Dana so congrats to you on that and well that wasn't down I was g-man that was a take a look at meta so congrats to you on that congrats to everybody now Mike inside our Tigers dead might take based on what Steve and Larry have been teaching me MES next up is 41-43 MES that's defining time well MES let's go take a look at what our charts say out here and see if we can figure anything out done MES was it MES I mean that's what I've got up on our screen here it's trying to populate just an instrument I'm not familiar with not that I'm familiar with all of them but yeah that's not working so you probably didn't mean MES out there maybe you meant the ES that would make sense the ES but I'm uncertain about that do we have another question well let's do this here let's wait to see if defining time tells me that it is the ES that he's looking at but I see the 41-40 so it must be out there so let's go take a look at let's take a look at natural gas we can come well let's let's wait for a break to show up yeah just the ES okay no problem ah the micro ES here we take a look at natural gas right now you've got that nice rogment indicator bottom out there price struggling at the center of that profile out there I don't know if natural gas is ever going to form a bottom it's under a lot of pressure tons of pressure out there Steve Rhodes with TFN we'll be right back if you're looking for potential trading setups in the stock market then rocket equities and options report is 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.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 new and edge in identifying price turns finding the peaks and valleys in stock prices get the opening call newsletter by Basil Chapman and your inbox every day first-time subscribers also get a 30-day money back guarantee if you're not satisfied let us know and you'll get a full refund within 30 days of signing up TFNN.com educating investors everything in the universe is governed by the Fibonacci sequence this mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market to stay on top of stock patterns you can take advantage of sign up for the Fibonacci 24-7 newsletter at TFNN.com when you subscribe you'll get a weekly report from veteran day trader Larry 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 TFNN has launched Tiger's Den 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.com Welcome back folks right now I've got the a larger time frame charts up here you're seeing lights recruit a natural gas really natural gas chart on the bottom that I wanted to share with you I was really being facetious with regard to natural gas and its bottom and we do really want to pay attention to this and I believe the reason is if you look all the way over on your left hand side now that's a continuous contract you can see that this is bar number 9 of a TD9 count on an annual basis so what that's telling me is once we do find this could be a very long-term move to the upside out there where it comes to natural gas now we don't have any kind of a bottom signal on the monthly time frame you can see on the weekly it has a rose mentor indicator pattern that has been triggered out there and you could easily get a bullish reversal candle this week you could of course and that's what we would want to see to give us another sense that this has bottom you've got the rose mentor indicator bottom on the daily we can get one of those on the weekly we've got that TD9 count on the yearly it certainly would suggest take another stab at this but a bigger picture that I wanted to share with you was that yearly TD9 count bottom pattern that is out there last comment really coming in by email from Hector Hector was taking a look at gold paying attention to the daily candle and the daily candle for gold does have the potential to generate has the potential to generate a bearish shooting star candle out there it would need to do Hector and Patty it's got too much of a wick right now in order for this to be a shooting star candle so what price would really need to do is probably close at about the 25 2016 mark 2016, 2015, 70 not do a whole lot more other than just close lower down if that were to happen what Hector's really pointing out is that would then confirm a rose mentor indicator at top when it comes to the daily time frame chart of course we would need to see it get below the top of its profile at 2015 90 to suggest that this is something other than a neutral signal so you're right Hector and Patty there's the potential for a rose mentor indicator top to be confirmed today that's if we get a bearish reversal candle on a daily time frame chart and it's uncertain as to whether a bearish shooting star candle will form or not. Hey folks great to be with you have a wonderful Wednesday I'll look forward to seeing you on terrific Thursday take care folks