 The following is a presentation of TFNN. The Traders Edge with Steve Rhodes. All now toll free at 1-877-927-6648 or internationally at 727-873-7618. The Traders Edge now Steve Rhodes. Good morning folks, welcome to the October 19th, 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 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 can make that one little two-by-four shift, well it means we can find the gift in every set of circumstances that life is going to toss at us. Now today you and I, we're going to go check on the circumstances 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 more important than that. And that's this during this next 53 minutes. I'm here to serve you. So feel free to pick up that phone. You can dial in at 877-927-664. I would love to hear from you, but if you can't call in, you can always send me an email. You can send that to Steve at tfn.com and inside the subject any police put. Radio show question of course inside our Tigers and well any, in every ping we all do. So let's go ahead and get this show started on a wonderful Wednesday. Of course, this is Tiger Financial News Network. I'm Steve Rhodes. Welcome to the show right now. A bit of a mixed bag out there. That mix coming from the S&P, which is down 11. The Russell's down 21. The trannies are up 152. To the upside, it's a dow 32 points. The Nasdaq is up six and the semis are up 15. Gold's trained out about 17 bucks. Silver off about 19 cents. Sliced recruit up 67 cents. Natural gas is off 23 pennies and the 30 Treasury trade on 122. Again, that's off 1.8 ticks. Lay the charge dollar wise. The upside, you got Netflix up 35 bucks. It's a 15% move as we'll holdings up 6% or 25 bucks. Intuitive surgical up about 13% or 25 bucks. Adobe's up 7. Lockheed Martin is up 9. To the downside, it is that Mercado Libre. What a cycle stock that is. It's off 30 bucks down 3.5%. Generic holdings off 32 bucks or 20%. Replagin Corp down 26 or 12%. Amity Bank is off 12% 22 bucks. Thermal Fisher scientific off 23 bucks. A little over 4%. So we've got some movers and we've got some shakers. So what do you want to do? Let's go start with the general markets. We'll start by doing this. See, I'm on this black background screen. Let's just pull this over here. So the issues right now are the short-term timeframe. ES, which has a bearish crossover. So out here on the upper left-hand side, you'll see there are 63 instruments trading above the top of a 30-minute profile. These are stocks with inside the S&P 500. 207 below the bottom. So here's where the pressure is at. For the NDX100, the numbers read like this. Above the top of the profile, we have a total of, it's doing the calculations, all 100 stocks, 14. And below the bottom for 30-minute basis, 43. So it's a short-term issue. When I say short-term, I'm referring to 30-minute timeframe charts. So we'll keep a focus on that as we move over to those equity future charts out here. But as we take a look at the other four timeframes, really, the first three, the 62, 40, and daily, for the S&P 500 are all in bullish crossover mode. Not the weekly. If we take a look at the NASDAQ 100, same situation. No, not the same situation. So we take a look at the NQ. We want to take a look at the 60-minute timeframe as well. 24 instruments trading above the top, 43 instruments trading below the bottom. So we at least understand where we're at with regard to market breadth for the NDX 100 and the S&P 500. So let's say with the S&P 500 for the moment. The 30-minute chart, a 60-minute chart. So the 30-minute chart for the ESMini showed that we had a bearish crossover, but you also have a bullish structure profile. So our price should find support. The buyers are lined up on a 30-minute basis between 37.05 and 37.13. If you look at that 60-minute timeframe, the 60-minute timeframe identified also, well, on the ESMini, it had a bullish crossover. Now, that makes a lot of sense. You also had a TD9 count bottom. That formed at 9 o'clock this morning. Price did do what it was supposed to do, which was run up to that oscillator and change line. It did that as we were coming during that 11 o'clock hour. This is an hourly chart that we're looking at. But price did find resistance. Consolidating with inside its daily profile, the next battleground to the upside is at the 37.39 to 37.43 level. It would be 37.65. That's a TD9 count breakdown area. Now, let's switch over and take a look at the NQ charts out here. Now, price should move higher, but there are, by the way, so there's a TD9 count top on the 240, TD9 count top on the 120-minute timeframe chart. We had an erosement to indicator top on the 60. So there's all kinds of tops out here, but no key levels of support have been broken. And remember, market breadth is for the S&P 500, is positive for three timeframes, 60, 240, and daily, 60-minute, 240-minute, and daily. And just an issue with regard to its 30-minute timeframe, but we can see your bullish structured profile for it. So the push-lower should be able to be handled by the buyers that are out there. Now, let's switch over and take a look at the NQ charts out here. So we get a feel for what those are communicating to us. Netflix trading higher, but that's just one instrument and not a heavily weighted instrument, I don't think. And as well, it might be in the top 15 of the Nasdaq 100 stocks. So here we take a look at the NQ. And it's trying to struggle. It's dealing with the resistance level at the top of that daily profile. Top of that profile, again, we didn't write that down in your pad of paper, is 11, 230, what is it? I can't see it myself. Sorry, 11, 231. We're trading at 11, 225. So let's go to the 30-minute chart. So for the NQ, 30-minute chart had a bearish crossover. It, too, has a bullet-structured profile. It's already been tested. It was tested during the 1030 timeframe. So there's strong support between 11, 123, and 11, 142. The hourly timeframe showed that it also had a bearish crossover. Price pulled back and tested and held this very key level of sport, this little TD9 count breakout area. Now, nobody. And I mean nobody. Myself, anybody with inside TFNN would have chosen 1110350 as the breakout level. That's the beauty of the TD9 count pattern. Why? Because it gets rid of all the subjectivity. It becomes a very objective element and it's always amazing. It doesn't, I still find it amazing when Price pulls back, finds support there or moves higher and finds resistance at the TD9 count breakdown areas out here. For Price right now, on the NQ, 460-minute timeframe, just consolidating with inside its daily profile would presume a close above 11, 27350 would cure the negative market breadth for the instruments with inside the NQ out there. Is there anything else for us to look at inside the NQ right now? Again, long-term and not long-term. And it's 240 and it's a two-hour timeframe charts. They have TD9 count tops, Roachman Dominicator top on the two-hour chart. We've got the same kind of setup on the 60 minutes. We've got those tops. For Price, again, is pulled back, testing key levels of support, which has held. That suggests to us that we should see a continued move higher. It doesn't necessarily have to be today and the reason is because we just had a two-day rally. And as you know, counter-trend moves, which is what we're in right now, that's not to say that we can't have more of a counter-trend move, but they typically peter out after about two trading sessions and then get a pullback and then maybe we get that resumption higher. That's especially true if we don't take out any key levels of support. That was up 65. S&P back 7. NASDAQ won it up 15. Two questions in the den so far. Two questions outside of the den so far. SWKS and SKLZ. And inside the den, we'll figure what was requested in a moment. We'll be right back. Teddy Kegstad has just announced a live webinar coming up for subscribers to his newsletter, the Tiger Forex Report. Wednesday, October 26th at 4 p.m. Eastern Time, Teddy will be hosting a live 60-minute webinar, Forex Strategies and Fundamentals. What is behind the Tiger Forex Report newsletter? In this 60-minute webinar, Teddy will be discussing a full breakdown of the markets that influence currency pairs, as well as applying those variables to individual currency pairs, how to evaluate trading scenarios for risk versus reward, as well as a live question and answer session. Sign up now and gain instant access to this live webinar coming up, as well as a month's subscription to Teddy's Tiger Forex Report, which comes with a 30-day money-back guarantee so you have nothing to risk. Don't miss out on this live webinar event with Teddy Kegstad Wednesday, October 26th. Sign up now for the Tiger Forex Report at the front page of TFNN.com. 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 and 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. Steve Rhodes started his trading career as a student almost 20 years ago, and the student has now become the master. Steve won the prestigious Timer of the Year award in 2018 and barely missed that mark again in 2019, finishing it number two for the year. An amazing accomplishment. Steve Rhodes is committed to sharing his techniques and knowledge with anyone who wants to learn, and he shares his vast amount of trading knowledge every day in his Mastering Probability newsletter. Steve's award-winning newsletter, Mastering Probability, is delivered every trading day with updates throughout the afternoon. Sign up for Steve's Market newsletter, Mastering Probability, and you'll receive access to seven of Steve's educational webinars absolutely free. At TFNN, all our newsletters come with a 30-day money-back guarantee, so you have absolutely nothing to worry about. Visit TFNN.com and try Mastering Probability 30 Days Risk-Free Today. TFNN. Educating Investors. Toll Free. At 1-877-927-6648. Internationally. At 727-873-7618. Folks, my apology there. I forgot to switch over to the white background charts, which is what I was taking a look at. You've got those up on our screen right now here for the end queue. So you can see 60-minute time frame chart price point back to that 11-103.50 area, that TD-9 count breakout. You can see the new profile that is out here again, 11-273.50 at the top, so you'll want to watch that out there. But we've got a number of questions that have come in. Specifically, we've got, looks like, five here. So let's get to those right now. Again, we'll change, well, we'll stay on the screen here, which is going to change panel, so to speak. So the first question came in from Nicholas. Nicholas wants to take a look at Skywork Solution. SWKS is the ticker symbol out there. Nicholas is looking for an entry point. So the very first thing, Nicholas, on a longer-term standpoint, on a longer-term, I'm referring to a monthly price negated last month, the month of September, price negated at TD-9 count bottom. This suggests that, over time, Skywork Solution wants to continue to move lower. Now, as far as move lower, I'd be targeting the area of the January 2019 range. That's between 60-12 and 70-408 out there. So that's where things look to be headed to. Now, on a weekly time frame, you have a roadsman to indicator signal that's been triggered. That's those black diagonal lines. Tells us about a market that's stretched, but hasn't been confirming that stretch out there. And then that needs a bullish reversal candle. And they close above that oscillator and change line. That's currently printed 85-17. Short of that, price may have lowered. Now, today's going to become bar number 8. Today will become bar number 9. Yeah, I think it'll be no problem becoming bar number 9. So that will give us, effectively, a TD-9 count bottom here, Nicholas, tomorrow. Remember that TD-9 count can generate a bottom on the bar following bar number 9. Because the roadsman to signal trigger, that's out there, signal, I would wait for a bullish reversal candle before I would step into this. So there's a possibility based on the weekly charts. That's a weekly chart we were looking at that you could see a bottom between this week and next week. Really would be between last week and next week because last week was the low so far of the pattern. On a daily time frame, you've got a nice roadsman to indicator bottom. Now, here you can see you've got that nice big bullish and golfing candle. That was the confirmation. So you get these black diagonal lines that draw or that are drawn on my chart out here. That just signals that we've got a market that is stretched and hasn't been confirmed out there because it has less relative weakness to the downside. Now, that can be repaired by having more relative weakness to the downside. But on the daily time frame chart out here, that's not what took place. What took place was a roadsman to indicator signal that was then confirmed with a bullish and golfing candle. But that red, the oscillator change on very key level out there, folks. It is not a moving average. So you want to take a look at this. You want to learn this pattern. I teach you that pattern out there so it becomes easy for you to track or calculate it yourself. When you're below a red oscillator and change line, it's kind of a bearish signal, directly speaking out here. Now, in the case of Skyworks, it's consolidated inside its daily profile. But because it's below that red oscillator and change line, Nicholas, price may be that's at 7807. So 7807 is a potential area for you to consider out there. If you can consider that, you'd like to see some kind of bottoming signal on the intraday charts out there. So I think right now you want to be patient. But the concern is that monthly time frame chart. Select the weekly at least get a confirmation, nice confirmation, roadsman to indicator signal, a close move of its oscillator and change line, and then maybe what you've got out there is simply just a trade. So Nicholas, I hope that helps you out. Thanks much for the request. The next request coming in is from Richard D, Rich D. And he wants to take a look at Tickers SKLZ, Skills out here. So let's go switch over to that. I think I've got that already set up. Boom, there we do. And in essence, what Rich was looking for his question is where can it be bought? So if you look at this weekly chart, I mean, this is real. This is this is this back in February of 2021. There were this volume of 128 million shares. So I know this was no reverse merger anything along those lines. This traded up to 46. I have $46.30. You're at 90 cents right now. Rich D, why? Why are you searching here? Why are you searching here? There's nobody at this party having much fun out here. Now look at a monthly time frame this month, the month of October will complete a TD9 bottom pattern. But if price starts closing below the low of the month, whatever that is right now, the low of the month is is 83 cents. So if it starts trading below that or close below, it tells you we're headed lower. It's at 83 cents. How much lower can it go? If you know what I mean. I don't, I, you know, I look here's what I can share with you. You do have on a daily time frame, you have a press release for red blood. And you've got a data about the price of the month. The road's meant to me indicator signal that was confirmed. What most of the market confirmed it on Monday, October the 13 but all that's done is led to a consolidation with inside its daily profile. I suppose their price closed above the top of its daily profile. That would be at a buck. What that would then be signaling to you is that price might run up to a buck 27 out there. The price gets back to 86 cents in bottom of its back and you would compare it against that October 13th candle session not October 13th that did 8.1 million shares so far today you're already four million shares in two hours so it's pushing into a swing point with volume Richard that suggests at least getting down to the 86 cents out here but I would be looking elsewhere but you know to each to each your own thanks for the request out there happy to look at this happy look at this anytime for you it's just this doesn't look that great out there but best of luck and hope to hear from you again soon that was rich Netflix Dennis inside the Tigers them let's take a look at Netflix NFL X having a heck of a nice day out here and Dennis's question was can you take a look at long-term Netflix thanks Dennis G so long-term first I take a look at net Netflix I had a consolidation pattern that had been drawn in there and we can see that price broke through that consolidation so now typically when you break through a consolidation you will see this do a move equal to or greater than the consolidation there is nothing inside the chart in the daily chart for Netflix to suggest that it won't do that do that means gets up towards the 286 level if we look at the weekly time frame chart prices above the top of its weekly profile it's above a prior swing point you've got a A to B equal CD pattern to the upside will probably want to draw this on my other charts out there but here's the A to B point it's actually into my letter C part of the chat when we I'll just move this over to the D point level out here and so whoops one-to-one is going to give us a price projection level on Netflix come on what's going on here there we go in about the 300 ish area out there 299 56 or so in on a monthly time frame chart even though I don't have a bottom pattern prices above the top of its profile and as longer remains above 261 07 price should move to 331 44 so longer term which is what you were asking for Netflix has got a daily consolidation breakout plus it negated its TD 9 count top it did that today you've got a consolidation measured move that suggests getting up to the 287 level you have an A to B equal CD on a weekly base of the upside it can do more than a one-to-one but the one-to-one gets you up to about 300 as well and your 331 43 when it comes to the monthly time frame on a short term basis if we take a look at a 30-minute time frame chart we do not have any kind of a topping signal I take that back with the exception of letter G so that is wave number seven that appears that that will go ahead and form here as we come into the 1130 hours that could be suggesting a pullback into that oscillator and change line on the 30-minute basis so you could see a short term pullback about 261 but otherwise those longer term objectives are what the charts for Netflix are communicating to you now Steve Rhodes with TF&M be right back if you want to take advantage of this sector now is the time to subscribe to my gold report the gold report is a comprehensive look at the metal sector as well as the markets that move gold which is the currency and bond markets new subscribers get a 30-day money back guarantee so you have nothing to lose every Monday morning I publish the gold report with coverage of gold silver bonds the XAU HUI GDX as well as more than 30 different mining equities 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 tfnn is excited about our new software charting program the art of timing the trade charts in collaboration with Tom O'Brien and using his best-selling book the art of timing the trade your ultimate trading mastery system David White has programmed an outstanding piece of software that will complement any trader's methodology using this first-of-its-kind program the art of timing the trade charts allows you to scan thousands of stocks for Fibonacci formation setups including Gartley's ABC's Butterflies and much more the art of timing the trade charts is designed to help you when scouring the markets for stocks just beginning to form the trading patterns that many investors spend days weeks or even months searching to find and right now we're offering licenses available at only $79 a month we are so confident that you're going to love this new charting software that will even give you a 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 sharpening your skills as an investor is like getting better at playing a musical instrument you have to practice sure but you also need excellent instruction from experts at tfnn you'll get advice and guidance from the authority and technical market analysis and it's not just dry tedious text either tfnn airs live financial content streamed live on tfnn.com and tfnn's youtube channel with tiger tv live every market day from 8 30 a.m to 4 p.m eastern for free each host is an experienced trader and gives their take on the market while taking calls and questions live from around the world from the moment the market opens until the closing bell sounds tiger tv has eight different shows with expert hosts to help you make the right moves with your money watch online at tfnn.com or on tfnn's youtube channel and become the investor you were born to be tfnn educating investors 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 okay folks so we've got another uh five questions uh at least oh no we got six uh so we're gonna seven oh this is perfect and thank i want to thank each of you you send these questions and just makes it so much easier for me um i just got to kind of take a take an inventory here inside the tiger so to make sure i catch everything so i believe the next one up is from joey d wants to take a look at wheat and precious metals ticker symbol there is wpm trading out right now at uh 3108 i don't recall the questionnaire joy i think was just a take a look at the chart so what do we know at this stage what we do know is that um this formed a roadsman to indicator bottom pattern out here but the swing point from september 26 is what was recently tested so volume wise september 26 did 3.8 million shares it was tested on the trading day of october 13th with three million shares a little over three million so three million going against 3.8 million so it does have a test rejection of that swing point other than that i don't have any kind of a bottoming signal in fact if anything it says that that swing point should get tested again that's because prices below a red oscillator and change line without any kind of a bottoming pattern out here and price below the bottom of its profiles daily profile and its red oscillator and change line on a weekly basis you have a nice roadsman to indicator bottom that formed back on september 30th but price right now is testing the oscillator and change line and is trading just below the bottom of its weekly profile and on a monthly timeframe no bottom signal here whatsoever so it's the daily chart right now that's controlling things it suggests that price will pull back even further watch for another test of that swing point perhaps it's the september 26 swing point high at $30 and 25 cents to get another test rejection you at least know that there aren't a lot of sellers left inside of wheat and precious metals but if all you picks up well then that would be a different story so thanks much for the question joey d i do hope that helps you out and have a wonderful wednesday kota inside the tiger's den let's take a look at ticker symbol pxd so for pxd i've got those charts here already fired up on a monthly basis pxd is neutral neutral because there's a td9 count top of prices above its green oscillator and change line just consolidating with inside that profile on a weekly timeframe i just have a consolidation with inside its weekly profile we know the 259 78 the top of that profile has been resistant so that's what you'd keep an eye on to the upside on a daily timeframe out here what do we have not much let's just simply expand out the screen what do we see out here what do we see well what i see is prices above its oscillator and change line that has been tested several times over the last couple of weeks out here as long as it remains above that which is currently 244 47 it should seem moved to 251 maybe even at 261 88 area that's from the daily time frame nothing else really sticks out to me kota when i take a look at these intraday charts out there so i hope that provides you with the information that you're looking for again you're kind of neutral on the monthly with a consolidation with inside profiles 259 78 is key resistance that's from the weekly chart and on the daily timeframe as long as price remains above the 244 44 level you should see moved to 251 and perhaps 261 out there so yeah it is definitely trading range bound next question coming in from you know visual inside the tiger's den you know wants to take a look at the smh's out here so let's get those up we'll do it on this three panel here they just simply are going to populate a little bit quicker for me his other question is why is the russell 2000 so weak today compared to the other indices out there so it's trading lower most certainly it's off 22 points right now are one and a quarter percent but we'll have to go back and really take a look at the charts to make a determination whether it's really weak or not out there but why is it trading lower more so you know because of the constituents inside there um you know and i don't know atom has a way through his system to tell us the weightings with inside the sector weightings with inside the russell 2000 which at one point time maybe they still are really heavily weighted on the oil side the oil in the metal side is my recollection but i don't know where we're at in 2022 in october i wish i did have that information i passed on to you if i did maybe during tom so you can write into him and he'll be able to share that information with you well with regard to the smh's on a daily timeframe which you can see out there is a real nice roadsman to indicator bottom and price is trying to right now get above its oscillator and change line that's a real key level you can see price has not closed above it even since that roadsman to indicator signal today could be the day in order to do that price would need to close above 176 62 now look folks if price moves down that number is going to move down just slightly out there um but 176 62 63 is the number we're looking at as we speak right now on a weekly basis you're likely going to get a td nine count confirmation this week but remember the low can still take place on the bar following bar number nine bar number nine is what's going to complete this week so you may not have that information until next week on a monthly basis a td nine count bottom will form but again it could be the month of november that generates that bottom signal because it can be the bar following bar number nine in that case in the smh's it could be targeting its next breakout level at 126 11 out there so what's the call here in the smh's the smh's well let me look at a 30 minute time frame chart see if that's going to influence any of our thought processes out here as we take a look at it this just shows basically a consolidation well it shows you your resistance level so this will be helpful to you you know and that is a 180 303 you can expect that to be resistance and a price can close above that then the moves should take you to 191 34 from a support standpoint it's the breakout area at the 174 70 level that i would be watching to the downside so this is suggesting to you and i that the smh's as long as they close above that red oscillator and change line one they should make it their way back to 180 207 but more likely the 189 61 area would be where they would be targeting so you know i hope that helps you out let's try to answer that question though for you with regard to the russell 2000 least the best that stevie can do so let's go take a look at the russell let's go switch over to a different set of screens out here and to do that we'll go look at the black background screens and this is the daily time frame so you know you're you are right here it is weak from the standpoint that it's now getting back inside its daily profile 1757 we saw a close above it yesterday what price did do is it ran right in that descending trend line in fact you've got the dow the one on the left hand side running into a descending trend line you've got the nq running into a descending trend line and the top of its profile out here so the only one of the four that are in really breakout mode is the s and p 500 the s many prices above the top of that profile which again is that 37 no 3690 top of the profile 3692 out there there's 693 so why is it weaker you know i don't know that it's really that much weaker if you will then the nq and the dow especially when we take a look at trend lines and uh profile information out there so don't know if that helped you out but it is at least a little color that i can add to uh your question out there next question coming in from dan the man levitan and dan wants to take a look at lights weed crude so let's go switch over we'll switch panels here we'll get to the white background charts change my window i don't want to do a whole analysis and then get somebody in my ear saying hey stevie you're not even looking at those charts on the screen you're talking one thing and people are seeing the other so now we got lights weed crew we got the december contract that we're trading right now this will take a few moments here to populate dan specifically was looking for the 30 and the 60 minute time frame analysis out there so that's what we'll do here in a moment but but first on a daily basis because it's got to be an influencing factor you've got a nice teeny nine count top prices below uh it's bottom of its daily profile it's below it's red oscillator and change line dan the man levitan if i asked you where do you think that lights weed crew the daily chart that stevie has posted says price is headed to and dan would say 78 36 stevie that is its teeny nine count breakout level so we want to have that as color inside the charts as we look at them the five hour chart what do we know here lights weed crude hates that red oscillator and change line it hasn't been able to close above it other than one bar uh for quite some time we go back to the early october time frame out there so right now 83 49 is going to be a real key level of resistance that's the current print on a five hour chart for lights weed crude but we haven't gotten to the 30 and 60 minute chart i know we'll do that when we come back from the spring you might think that if you want to be successful at trading in the stock market you're going to need a crystal ball after all it's impossible to predict the future right like any endeavor in life before you decide it's impossible get some advice from the experts you might find that it's not so impossible after all for daily market overviews that give you direction on the key indices selective stocks and commodities subscribe to the opening call newsletter at tfnn.com the opening call newsletter is written by basal chapman creator of the trading methodology known as the chapman wave the chapman wave up down sequence gives you an edge in identifying price turns finding the peaks and valleys and stock prices get the opening call newsletter by basal chapman in your inbox every day first time subscribers also get a 30-day money back guarantee if you're not satisfied let us know and you'll get a full refund within 30 days of signing up tfnn.com educating investors technology around us is changing every day with so much happening it can seem impossible to keep up with all the information david whites investment newsletter the technology insider is designed to give you all the information you need to understand the technology that shapes today's markets and tomorrow's future david white has made his living staying on the cutting edge of technology his weekly newsletter will give you specific recommendations for value tech stocks as well as entry prices target prices and stops to set for each trade david delivers his weekly newsletters every friday with updates throughout the week you can get the technology insider at tfnn.com for only 37 in 50 cents sign up for david's newsletter the technology insider and get an inside look at everything the technology sector has to offer try it risk-free today with our 30-day money back guarantee tfnn 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 china a shares in either direction visit direction investments.com today an investor should consider the investment objectives risks charges and expenses of the direction shares carefully before investing the prospectus and summary prospectus contain this and other information about direction shares to obtain a prospectus or summary prospectus please contact direction shares at 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 principal the funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor four side fund services LLC this program is brought to you by vista gold traded on the nyse american and tsx under the symbol vgz welcome back folks so we're taking a light sweep crude and right now i went to the daily time frame chart the black background screen so dan provided me with a little bit more information here he feels like he may have missed his entry point at the point six rate retracement he's looking at the daily time frame he's looking at the low that format september 26 out here and the high that formed on october the 10th and he can see the point six rate retracement level that that's what he's taking a look at so let's go try to answer that question did dan miss an entry point there and i believe it's that five-hour time frame chart that says dan likely you have not so it's a good take a look we're going to go to the 60 and 30 minute chart here momentarily but if you look at this five-hour time frame chart i'm still going to expand this out so that you take a look at now it does have a wave seven bottom okay letter g what that did was that turned into a move up to its oscillating change line which it rejected yesterday it rejected most certainly today and is likely headed back to 81 79 that's the five hour time frame chart that's its level of support so i don't think you missed it i think you're going to see price get back to the 81 79 at least that's the message coming from the five hour time frame chart now let's go see if those short-term time frame chart such as a 30 are confirming that as well well turns out on a 30 minute basis as price was hitting the point six rate retracement on the daily time frame dan got what he liked out here which was an a to b equal cd to the downside that completed we took a look at that yesterday and that was this hammer candle this was at 10 30 or 11 11 o'clock in the morning and we said if price closed below 81 33 the low of that hammer candle if you were long you were wrong well that never price never did close below that area out there but we really just have as a sideways consolidation price run into resistance in 83 34 area td nine count breakdown area in 82 23 the td nine count breakout level out there if we look at a 60 minute time frame chart let's go see what message it has and really the message of the 30 was what just a sideways consolidation the message of the 60 is what just a sideways consolidation dan 83 48 you know is a key area of resistance the top of that 60 minute profile if price is able to get below that red oscillator and change line it's not below it right now it's just hanging right at it then obviously not obviously then price would likely head back to the bottom of that profile that'd be 81 66 so no i don't think you have missed it just yet maybe to the tick if you were trying to buy it right at the level of maybe 81 93 but what we're at 82 60 right now so i don't think that you missed it i'd really watch that five hour time frame chart i do know that you follow the oscillator and change or i believe that you do out there so that is a real key level of resistance that no matter when you take the trade if it's to the upside you got to see price close above that certainly for two consecutive sessions out there so thanks so much for writing in our one of our dinners uh snp wants to take like a ticker symbol on so let's go fire that up out here on as soon as this populates we'll review those charts on is a what i know it is the spelling for the word on so yeah i mean you know it's not like i'm the sharpest tool in the shed that's another statement but on is actually on a semiconductor and on semiconductors trade out at 61 12 right now it's with inside its daily profile so it's consolidation but it's below it's red oscillator and chains on for remains below 61 54 we may see move back to the 56 60 level as we open up this daily time frame chart we can see this had a nice wave number seven top roadsmen dominicator top out there and so what do we have we've got a nice a to b equal cd to the downside that completed with this bolsh engulfing candle on october the 13th out there but it's real key level of resistance out here snp is that red oscillator and chains on if you're looking to buy this then i'd wait to see if you get this down at the bottom of that profile at 56 60 the only reason why that might happen is because price is below that red oscillator and chains on on a weekly time frame you've got an a to b equal cd but no bolsh reversal candle to confirm that bottom if price is able to regain this week the bottom of its daily bottom of its weekly profile would require a close above 61 20 well that would be a positive on a monthly time frame you've got a roadsmen dominicator top that was confirmed in the month of september when it generated a bear sash candle price remains below its oscillator and chains on that suggests you could see lower price that lower price could get down to 48 91 i'm not thinking about 48 91 that just yet not knowing that you've got 56 60 as a key area of support that's the bottom of the daily profile nothing on an intraday chart that i have out here that's worth showing you snp so i don't recall what you were looking for here specifically but if you're looking for an entry point i'd be patient it'd either be the 56 60 59 93 level so i hope that helps you out thanks so much for the request out there happy to do that and we got peter inside the tiger's den and peter wants to take a look at the new york stock exchange the advanced decline oscillator line so let's go do that form in order to do that we've got a shift of screens out here we'll get that black background screen the e-signal screens up here and then we'll go take a look at the new york stock exchange the advanced decline oscillator which is panel number two you'll see right now it's printed out at about 34 01 that means it's above it's zero oops change screens uh go we'll go live there we go now we've got it okay so now when we take a look at this again at the second panels we're looking at the advanced client oscillator what is an advanced decline oscillator stevie well that's the uh you take the advanced decline line for the new york stock exchange and you look at the difference between it's 39 and 19 period exponential moving average and that's in essence what it is now when it's above the zero threshold level which it has been for like three or four days now it tells us that buyers are in control however if you look at that very bottom panel screen that's the spot follow till days it is above its 50 day expense moving average that tells us sellers are in control so one message buyers are in control another message sellers are in control is there any wonder that we're in a choppy market out here no wonder whatsoever that's really what the signals are communicating to you and i so bier that's what the advanced client oscillator is doing as we speak right now i hope that that helps you out if there's more information that you need please write back to me and i'll be happy to try to get that for you hector and the fuel injector that would be patty she wants to take a look at and he wants to go get the energy sector the xle happy wonderful wednesday is how the message begins and back at you sipping my cowboy coffee this morning now that's a beautiful thing pouring over the daily stevo newsletter gotta love that the hair on your neck stood on edge as you read xle close above 83 54 well we're above 83 54 that was the top of that profile and if we do close above that that suggests that we get back to those highs those highs that i'm referring to are the highs from back in june of 2022 and those highs being about the 93 31 maybe the low 87 68 now we have on the daily weekly time frame is the top of its profile is 83 53 so we got an 83 53 and an 83 54 hector and patty that leaves us with one more profile resistance level at least as of 1149 in the morning and that's 84 98 and that's the top of the monthly profile so i would say if we see a close above 84 98 odds favor we get back to those highs from my june out there maybe it takes those out and we continue to have higher out there uh you go on to say uh equals breakout plus more yep yep please confirm this exciting news yep you so we just went through that your letter in archives the gift that keeps on giving well i love that thanks so much for that um and i appreciate that uh put appreciate that last message there too hector and patty so yeah you got a nice breakout going on inside of the energy sector the next message coming in from tim tim writes in and says i've got a long position in double verify dv is the ticker symbol out there don't think i have looked at this chart so let's look at this with tim he says it bounced off of that oscillator and changed line this morning you gotta love that uh let's get this chart here pop it in most certainly did so he's following one of our tools what it also did here tim is it still is above the top of that daily profile so that's two bullish signals coming from the daily time frame particular symbol dv can you please take a look at support levels on the daily and the weekly time frame where should i hang up and where should i hang in and where should i dump it c roads with tf and we'll try to answer that question so we get back to this this to gold owns and operates the largest undeveloped gold project in australia the mount todd gold project this to gold just completed their feasibility study resulting in a seven million ounce gold reserve this to gold has all major permits approved and has retained civc capital market assistance in evaluating alternatives and in completing an accretive transaction this to gold trades on the nysc american and tsx under the ticker symbol v gc this to gold executing a strategy to create shareholder value you might think that if you want to be successful at trading in the stock market you're going to need a crystal ball after all it's impossible to predict the future right like any endeavor in life before you decide it's impossible get some advice from the experts you might find that it's not so impossible after all for daily market overviews that give you direction on the key indices selective stocks and commodities subscribe to the opening call newsletter at tfnn.com the opening call newsletter is written by basal chapman creator of the trading methodology known as the chapman wave the chapman wave up down sequence gives you an edge in identifying price turns finding the peaks and valleys and stock prices get the opening call newsletter by basal chapman in your inbox every day first time subscribers also get a 30 day money back guarantee if you're not satisfied let us know and you'll get a full refund within 30 days of signing up tfnn.com educating investors everything in the universe is governed by the fibonacci sequence this mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market to stay on top of stock patterns you can take advantage of sign up for the fibonacci 24 7 newsletter at tfnn.com when you subscribe you'll get a weekly report from veteran day trader larry pesavento on stocks you need to pay attention to and you can trust larry's analysis after all he's got 45 years experience as a day trader larry will also provide daily charts videos and data on the key markets that he's tracking expect notifications from larry on market movement you need to act on at any time first time subscribers also get a 30 day money back guarantee if you're not satisfied let us know and you'll get a full refund within 30 days of signing up subscribe to the fibonacci 24 7 newsletter today tfnn.com educating investors tfnn has launched the tiger zen hosted at discord tfnn has been educating traders for more than 20 years with live programming hosted by a variety of professional traders during market hours the tiger's day available to all tigers and tiger's for just one dollar 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 double verify holdings at ticker symbol folks dv that's where we got on our screens out here this for tim ham he's in it the asset are in changeline you're looking for support levels and on the daily and weekly so your support is really between 2645 and 2699 that's the bullish structured area of its daily profile again price above the top of that daily profile so that then says right now 2808 is a level of support so you got three levels of support on the daily time frame on the weekly time frame it's the top of its profile that's at the 2797 11 below that it's at 2606 that's the bear structured daily a weekly profile and again two consecutive close above that would be nice now you're moving into a swing point that's a swing point from september 9th out there that had seven million shares we're two and a half we're basically halfway through the trading week out there and you're only about 2.6 so you're moving into a swing point with light volume so it's not exactly telling us it's going to bust this thing out to the upside out here and even on a daily basis yesterday the volume out there was a total of 1.5 million shares going into a swing point that had 2.1 million shares i'd still stick with this thing i'd watch those support areas out there i don't see reason to sell you are moving higher with lighter volume but that's not necessarily reason to sell out there so i hope tim that that provides you with the information that you were looking for and thanks much for taking the time to write in now i did mention to you let's go take a look at this such set of charts out here i did mention to you that it would not be unusual i think i mentioned it to you that would not be unusual for price to pull back today at the end of the day why is that now maybe that's not gonna happen because we're still above yesterday's close i'm taking a look at the nq out here but what you'll see this chart here identifies consecutive closes lower closes those will be in red and consecutive higher closes those would be in black out there and you'll see that most most uh for the most part these countertrend moves out here have lasted two bars you'll see a lot of twos you'll see a couple one four you'll see a couple of threes out here you'll see one five but for the most part that moves in a two step the texas two step or otherwise the delray two step but sometimes that step turns into a third step out there so would not be unusual if we do get a higher high today that's what can be day number three that we should see retracement here relatively soon folks stay tuned we got great programming lined up with you i'll be back with you tomorrow on terrific thursday please have a wonderful wednesday again thanks much for joining us take care