 The following is a presentation of TFNN. The Trader's Edge with Steve Rhodes. Toll free at 1-877-927-6648, or internationally at 727-873-7618. The Trader's Edge. Now, Steve Rhodes. Good afternoon, folks. Welcome to what today is October the 17th. This would be the terrific Thursday edition of today's Trader's Edge. I'm your host, Steve Perseverance Rhodes. I want to thank you all for being here. And hey, this next 60 minutes, it's all about you. So give us a call at 877-927-6648. We'd love to take a look at whatever instrument it is, whatever timeframe it is that you've got interest in. Maybe part of your portfolio. You're looking to get into your portfolio. If you can't give us a call, you can always send me an email. Steve at TFNN.com inside the subject heading. If you'd be kind enough to put radio show question, of course, in our Tiger's Den. And in all, Pings will do. So let's go ahead and get this show started on terrific Thursday. Of course, this is Tiger Financial News Network. Again, I'm Steve Rhodes. Welcome to the show. Right now, all the indices with the exception of the spot ball, I'm sorry, with the exception of the socks are in the green, albeit slightly. Although the Russell 2000 having a strong showing, as well as the transports, they've built up eight to nine tenths of a percent to the upside spot ball. Tilted X is actually ticking a bit higher. It's up 20 cents as we speak. Gold's up four. Silver's up a little over 1% 19 cents. C-straight now at 1762. Light sweet crude back 15 cents. No big deal there. Natural gas pretty much flat. Same as a treasury bonds are up eight ticks out there. Lead the charge to the upside. It's a ticker symbol F D US G. Fight us. Investment Corp. Boston beer is up $19. That one was up 24. Maybe it's a IPO. Yeah, it looks like it might be. It's up 2400%. It's a good day. There's no doubt about that. You've got pool corporation up 9%. About $19 Amazon 14 to the upside to the downside. You've got Provident Bank Corp off 11 bucks. Well, 51%. That's a haircut. IBM is off 9. M&T bank down 7. Beyond meat, which is beyond me is off $5 and 50 cents out there. You won't get Stevie's son. Hey, I like my fruits and vegetables, but that means I like my fruits and vegetables. And I like my hamburgers. I don't want to mix them. Anyways, that's neither here nor there. Look, let's go to our first question out here. This one coming in from Andrew K. Andrew writes and he says, hey, Steve, hey Andrew, I'd like you to take a look at Facebook. I'm considering a long position with a close above 190 90 target around 205. So what are the charts communicating to us? So let's go take a look at Facebook here. Andy are the three different Andrew. I apologize. And let's be more correct and formal out here. If we take a look at the daily, the weekly and the monthly set of profiles prices above the daily resistance, which perhaps may be support 180 206 prices trading within its weekly set of profiles. So support there would be 184.75. This is a bullish structured profile, which would say you were looking for a close above 190. In this case here, this would say, hey, a close above 194.31, not 194.32, but you know, caught 195 and above, which suggests to move to the 208 area. You're looking for move to 205. So this has got 208, but the monthly chart, its profile shows resistance at about 200. We're trading at 189.56. Okay. So there's our profiles weekly and monthly prices trading in between the support and resistance areas. If we take a look at, and you're looking for an entry point. So if we take a look at Facebook, we take a look at the daily timeframe, what you would have liked to have done is to have inquired about Facebook on October 3rd. The reason is, if we take a look at the daily chart for Facebook, both it's high. And when I refer to the high, I'm referring back to the July 25th high. And then the low, the low being the October 2nd low, were both formed with rose momentum indicator signals. This is the way that markets like to, they don't always. It's just when you do see these patterns present, this is how markets signal to you and I that it's forming bottoms. So your actual entry into Facebook was October 3rd, October 4th, October 7th, October 8th. And it's not going to be on October 17th. And I can't see trading, waiting for this to get to 19090 out here, your 18953, but you've got to make the reward risk scenario. It does appear that using just Stevie's white background charts with these tools out here, that what price is gunning for is 20288. You can see though, in the area that price book is trading right now, and I'll use the high, just kind of check on the high of September 20th. That level is 19310. And you wanted to close above 19090. See, that's a three river evening star pattern out there. So we know where sellers are present, because in the same area, two different times, you had a nice little dark cloud cover on September 12th, a nice little bear sash on September 6th. So Facebook really in order to give you the signal, the coast is clear to make the rise to 20288, irrespective of what we looked at on the weekly, and the monthly set of profiles. You've got to clear resistance, which is going to be the high from September 20th. So the better pattern, the better entry would have been down there in that early part of October versus now on October the 17th. And if we look at the weekly timeframe chart, it would say even if you did go along back on the third or the fourth, price is now running into its resistance level, its potential of a counter trend resistance level. That is Stevie's green line. Price is trading at it right now. So obviously if you can close above this on a weekly basis, and then as well as the three river evening star resistance level, that would suggest the move higher. Now, in this case on the weekly, if in fact all that comes to fruition, it could give you a price target of $218.62. But when we look at the weekly chart, Andrew, price is up at resistance. The daily showed us resistance over on the left-hand side of it in this price range. And if we look at the monthly chart, we can also see that price is up at resistance. Stevie's green line. So my preference for you, you've got to make the decision out here. I've given you all the numbers, so you can do the risk reward out there. But right now you're at resistance, so you just keep those hands in your pocket out there. And I'd rather you take a look at Facebook when it made its high out here. This is back in July on a monthly timeframe, with the roads momentum indicator pattern out there. I'd rather teach that to you, teach you what to be looking for so when you can see it, you can go ahead and fire away. Maybe you are a subscriber, I don't know. So we've got the archived videos to assist you with that. If you're not a subscriber, just consider doing that for at least the next 30 days, because you can cancel it. And then you'll get the education that will assist you in being able to identify those trades and where it is that you could enter Facebook out there. So Andrew, thanks for writing in. I don't recall getting a question from you before if I did, my apology, but thanks for taking the time to write. And folks, I want to hear from you as well. We've got Phil. Phil writes in and he wants to go get a burger, as a matter of fact. Now I haven't been to this place out here. I don't know if they sell those impossible burgers or whatever they call, but if we take a look at Shake Shack and the ticker symbol is S-H-A-K. Now maybe it isn't a burger that Phil wants. Maybe he just wants a good old shake. I've got to assume they sell shakes out there. Now, when I was a young kid, well, so I took a hockey puck. I was playing. I was a fairly good hockey player as a young kid. I was playing with the older guys five, six years older than I was. Didn't have face masks at those time. And I, in my mouth, stopped a goal from going in. I was in front of the goalie and simply took the puck into the mouth. Lost my teeth. Lost my front teeth. Lost a bone up in my nose area. And then eventually had to have 12 teeth pulled from my mouth. I lived on shakes for a long time. I hate shakes. I hate shakes. But we come back from this. It doesn't matter whether I like shakes or not. We're going to go take a look at Shake Shack. This is a standalone piece of software that instantly filters over 2,500 global financial markets such as stocks, ETFs, commodity futures, and forex. Heated by Steve Dahl, Taz understands that in today's technological world, the use of top flight software applications and technical analysis expertise is essential to successful trading in today's market. You also gain access to the webinar that Steve Dahl and Tom O'Brien just hosted. The best way to use the Taz Profile Scanner to profit this webinar archive is available for all subscribers immediately upon signing up. All new subscriptions also come with a 30-day money-back guarantee so you have nothing to risk. Start your subscription by visiting the front page of TFNN.com today and you'll find the Taz Profile Scanner under the Services tab. Sign up today. Are you in the market for buying or selling real estate in the Bay Area including the surrounding St. Petersburg, Tampa, and Clearwater markets? Tiger Real Estate LLC is a firm that has extensive experience in the Tampa Bay Area. 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Hear all of the TFNN shows, plus see all of the charts as they happen live and have access to archives of all of those charts. You can test drive the Tiger's Den absolutely free for 30 days and greatly enrich your knowledge of these markets and how to make your money work for you. Details on the Tiger's Den are on the front page of TFNN.com. TFNN has launched our brand new website. You can still visit us at the same TFNN.com URL but when you do, you'll see a new and improved homepage with a much simpler navigation, whether you're watching Tiger TV live in high definition or just accessing your newsletter subscriptions. We even have new pricing in six months and yearly options. Check out the new TFNN.com now and experience all the upgrades. TFNN.com educating investors. All now toll free at 1-877-927-6648 internationally at 727-873-7618. Let's go to take a look at the Shake Shack out here. Phil writes, and just bought Shake as a TD9 setup. Where would you place your target? Market profiles and so on and so forth. So, Phil, if we take a look at market profiles, let's just begin their daily, weekly and monthly. Here's what we know about Shake Shack. Today is trying to get inside of its daily profile. So, you'd really love to see a close above 9229. That is the bottom of the box. The reason is because if Shake Shack does not close above that, it's just a clear level of resistance, old support that now is resistant. So, 9229 is your key level to be watching today. It just so happens on the weekly timeframe, the bottom of its box is 9247. So, certainly if you saw a close below 9247, from a profile perspective, that would not be good news. On a monthly basis, the profiles really don't come into play for you and I. If we look at the daily timeframe chart, and today could be, could be day 9 of a TD set up 9 count. But as we speak right now, it's not. And here's the reason why, Phil. First of all, in order, so today is day 9. Yesterday it was bar number 8, or bar number 8. Well, today, because we're looking at a daily chart, but bar number 9. And in order for bar number 9 to actually form, therefore give you the TD set up 9 count, today's close must be below the close of bar number 5, the bar 4 bars earlier. So kind of easy math out there. And if you take a look at bar number 5, price is trading above it right now. And the close of that was 9162. Therein lies your problem, one of your problems, because if you get a close below 9162, you're going to be both below the daily and weekly set of profiles. Doesn't mean that this might not bottom, but this is not a valid, what I'll call a valid, it's a, oh, how do I say this? This is a, well, right now it's not a valid TD 9 count because it's not going to form based on where price is trading today. So we gave you that number where price must close below. But even if it did, let's assume that price did close below the close of bar number 5. Bar number 6, Phil, is the candle that has lowest low of this pattern out there. For Stevie, right now at this stage of the game until I get all my software ducks in a row, so to speak, it wouldn't be a tradable 9 count pattern for me out there. So that's the daily, that's what I see out there. You were asking where would be the target. So targets, you've got the profiles. We didn't talk about those. So on a daily basis, the target would be 9866 or 10121 to the upside. And if price close above the bottom of the box, that still may be in play out here. In order for that to happen, you're going to need to see a close above Stevie's green line eventually. That's 94 bucks, even Stephen. So that's what I see when I take a look at the daily timeframe chart for Shake Shack out there. And then 10376 is where we have a TD setup breakdown, the most recent one, but there could be a new one depending on where the close is today because the new one would be the high of bar number at this stage here, bar number one, which would be 9457. So that's the daily charts for Shake Shack. A quick peek at the weekly for you to see out here. If there's anything, there's nothing on the weekly price below Stevie's green line out there. Let's just do a wave count. See if this thing got to wave number seven. I'll be a monkey's uncle. Where did I'll be a monkey's uncle came from? Or am I just imagining that? So here we go. We just took a look at the wave counts by starting from the low out here from December 28th. And Phil, this made wave number seven on the week of September the sixth. It have had a couple of bearish reversal candles priced below Stevie's green line. If we were just looking at this chart, this would suggest to you and I that Shake Shack is gunning for 5815. So this would say be careful out there now because we saw that we've got to go look at the monthly chart, see what its signals are. As we look at the monthly chart, well, this appears to be a TD setup, nine count top on a monthly time frame chart. Now the last time that Shake Shack made a monthly TD setup nine count, it was right here. The month was June of 2018. And of course price then moved lower for the next about half of a year out there, six months. So this is not a good thing because right now it looks like the close on a monthly base is going to be well above the close of bar number five. So you're going to get another TD set. You're going to get a TD setup nine count on a monthly base. So I just simply offer caution to you based upon the patterns that we just looked at on the charts out there. But best of luck with that trade out there. Let's see, do we have any other requests? We do. LB writes in and thanks. And some folks wrote in yesterday and it was late in the show. So I just urge you to please get your request in early, preferably not at seven or eight or nine in the morning. Makes a little bit, you know, before the show, just before the show would be great out there. Then I promise to get to your request. So GBTC again, we were talking about this, Lee had written in, I think yesterday, the day before, what have you about, this is Bitcoin trust out here, GBTC. And it indicated it looked like it could be bottoming. So the problem I think is we just see if I've got any way to pull up the, to pull up Bitcoin on my other charts that would at least assist us with what it's doing. That didn't work really well. So that's not going to work. At one point, Nan, and the other thing I've got to pull up on my own. So bummer there. And it's trying to do that. GBTC, GBTC, the, so I'm just going to go back to the, going to go back to the ETF itself. So we're just going to trade based upon the ETF. Now what you'd like to see here, so today, so far, Lee, is today as an inside bar, inside candle. See today, the body of today's candle is trading with inside the body of yesterday's candle. And yesterday was a gap to the downside. Now I recognize a price in these gaps here is just catching up to what's going on in Bitcoin overnight or I assume that that's what it's doing out here. And so you've got resistance at the low of October 16th of 926. And you don't have a bullish reversal candle. You do have price moving lower, doing less relative energy, but you do not have a bullish reversal candle. It doesn't mean that yesterday wasn't the low, it just doesn't fit the criteria that I use for the pattern that I created here with regard to that road momentum indicator. And that's what we really want is, you know, I can do enough studies to prove to myself and hopefully over time I have proved to you too. Markets are going to, I don't care what pattern it is that you and I trade, it doesn't matter what pattern it is. If price is moving higher, it's going to continue moving higher until at a minimum you see some type of bearish reversal candle. Likewise, if price is moving lower, no matter what pattern is in place, it's going to continue moving lower until the cavalry says, I'm willing to take a stand. Now they may get steamrolled, but at least you know that you've got a spot where buyers have taken a sting end. We don't have the, we don't have that signal here in GBTC for its daily timeframe out here. If I look at the weekly timeframe, weekly timeframe says this is going to be bar number eight on a weekly base of TD set up nine count, but it also says, you know, price could pull back to 448. So weekly says, hey, maybe you're getting close to the low of bar eight or nine or the bar following nine can be the low of that pattern. So we don't, you need, you need next week's candle before we can even make that determination. And on a monthly timeframe out here, nothing for us to really pay attention to. Now in the futures marketplace, we're about to go to break out here. And so I was just going to try to see if I could BTC Z nine. Let me see if I can pull up anything else to assist Lee with his GBTC trade. We'll be right back. I'm certain you are or strive to be one of the best of the best at everything you do in life. It's the most common trade that we tigers and tigers share. If you're looking to become the best of the best when it comes to managing your money, let me teach you to do what most wealth managers tell you can't be done, which is how to time the markets. I'm Steve Rhodes, author of Mastering Probability. And for the last 12 months, Timer Digest has been tracking my newsletter signals, which have earned me the ranking as their number one market timer in the nation for the S&P 500 for the last 12, 6 and 3 months. Timer Digest also ranks me as the number one market timer for gold as well. The fact is markets can be timed and I'll teach you the exact set of tools that I use that has transformed me into one of the best at what I do. Sign up for Mastering Probability today by clicking on the newsletter tab on the homepage of TFNN.com and get immediate access to workshops where I take you step by step how to use an extraordinary set of tools as well as provide great market calls too. Sign up today. The path of least resistance is David White's daily trading newsletter and if you're looking for active trading ideas then now's a perfect time for a 30 day free trial to this powerful daily trading advisory service. 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All right folks, so let's finish off Bitcoin here. We do have the December futures contract for Bitcoin futures, and I can't pull it up on my other system here, but here's some other levels for you to track. Lee, there is a daily profile, bullish structure daily profile out here. The bottom of it is 8083. Today is not a bullish reversal candle, at least at this stage of the game from a daily standpoint, but today is not a bullish reversal candle. Today is not a bullish reversal candle, at least at this stage of the game from a daily standpoint. But to go ahead, you're in the trade. Just don't let Bitcoin itself, Bitcoin futures close below 8083. It's a bullish structured box out here. If you can get a move above 83.66, that might get you to 92.15 out there. So best of luck with that trade. Thanks for writing in. I hope that this information helps you. I think my gain on TNA today, so long S&P and TQQ, is it okay to take gains and not put new positions on? Of course, it's okay for you to do anything out there, but I think you're looking for maybe some additional guidance out here. And so let's go to the additional guidance steps. So you're out of TNA, and you took the profits there. So congrats there. Let's not spend our time there. You're asking about the S&P and the Qs out here. So first, let's do this for you because let me give you some info that maybe you don't have access to. And when I say that, I'm referring to the market breadth of both of those instruments out here. And so we take a look at that, and I'm looking right now, I've got the NASDAQ 100 up on our screen. I want you to just focus on the dials in the upper right-hand corner. And what those dials are representing, they're each in the green-colored level, which means that there are more constituents inside the NDX100 trading above the profile versus below the profile. So the first place you would at least see a crossover on some type of bearish condition, so to speak, would be on the 60-minute time frame. So as we pull this up, what you can see out here, just on a 60-minute time frame, you got a bullish crossover on October 10th. So nearly a week ago, a week ago, a week ago, out here, you still have those same conditions, 53 constituents above the top, 26 below the bottom. And all that means is the market breadth is so strong, even on a short-term basis, forget about the 240, the daily and the weekly, that the market breadth is strong enough to say, and even though on a 60-minute ES, well, this is the NQ, let me give you the 60-minute NQ out here. So even on the 60-minute NQ, we do have valid topping signals. So I'm not trying to convince you to do one thing or the other. What I want to do is provide you with information. You're an excellent trader. We can see that here, but provide you with the information so that you can make a decision, because the signals that we have are confusing, confusing at best. What do I mean? Well, take a look at one of the patterns you and I help to use identified tops and bottoms. Price movement higher doing less relative energy. That's what we have out here. We don't really have the, when I said we don't really have, we don't have a bearish reversal candle, even though we did have price move lower out here. Now, where was price moving into? That's always the question. In the NQ, I don't really have a good level of support where it was moving into, at least on a 60-minute timeframe, but the reason why price ended up stopping where it did, or at least this is my thinking as to why, and the justification as to why is because of still strong market breadth out there. So no real key levels of support have cracked inside of the NQ out there. And if we look at the NQ and we look at the daily timeframe out here, small body doji candle, today likely to be day five of a TD set up nine count pattern. We don't know that for sure, but all price has to do today is close above the close of bar number one, which right now that looks like that should be accomplished. 78-59 is the level out there. Maybe this is going on to make a TD set up nine count top. That's the last time that it formed a high out here inside the NQ was a TD set up nine count top back in September. So maybe the same pattern is unfolding out here. You've also got an A to B equal CD to the upside. It looks like this. If we draw that pattern out here, what we're going to see is we're today hit the 1 to 1.272 level and it's backed off, okay? No big deal. Maybe price is on its way to 8109. That would be the 1 to 1.618 area. If we look at, let's see here, if we come here, I'll just slide this over, because we'll go take a look at the S&P. If Phil's got the question or you've probably got the question too, certainly I know that Jay is interested. Are there any new profiles out there? And the answer is no. We take a look at the four quadrants of the ES, meaning with regard to your TNA trade or the Russell 2000, looks like it wants to make a run for 1548 or 1541. It was up a point or two higher than where it is right now. So I'm not going to convince you to jump back in, but that's your resistance point out here. The NQ is above resistance. We didn't see a topping pattern inside the daily chart out here. And so the NQ appears to be running and gunning for 8071. So my suggestion to you is that what the market's communicating to you and I at 1.35 in the afternoon is to remain in that position. Now, what do you do if overnight the NQ targets, hits 8071 and sells off? That's the problem with the ETFs that you've got. Not that it's a problem, just that you can't trade. Well, depending on who you trade through, you may be able to actually trade the Qs. But I don't know about TQQQ as one of those. But that's neither here nor there. Right here is the mere fact that all the signals for the NASDAQ 100, the NQ out here, says that it wants higher price. Now if you look at the ESMini, we'll just kind of glide over to it. Price is above the top of its daily profile, 2995. And so Phil, if that's the case, what it is likely targeting, if there's a close above that today, it's likely targeting 3032. Now, if we take a look at the daily chart for the ESMini, you're going to see really the same thing that we looked at in the NQ. Today is likely to be bar number five of a TD9 count. It has not hit the 1 to 1.2728 to be equal CD. That's 3014. But that's likely where price is headed to, maybe even 30, 50, 83 out there. So, and look, I can show you, and here's where the dynamics and the difficulty in really being able to, I like to be able to have conviction when I provide you with information out there. If there's any one outcome that I have when I do this show for you and provide each of you with information, it is to have conviction behind what it is that I say, not willy-nilly, and then be able to go back to the charts to explain what that conviction is. The problem I have with doing that right now for Phil's question is this, is that when I take a look at my Market Analyzer tool, and this is my short-term timeframe Market Analyzer tool, you can see that the first four instruments out here are the equity futures contracts. And when you take a look at one hour, two hour, and five hour, you're going to see top confirmed patterns out there, top signal patterns out here. And all this is the sign of a potential top. But yet when I take a look at Market Breath, which I know will be a lagging indicator, when I take a look at daily profiles, not necessarily a lagging indicator out here, we have conflicting messages. When you have conflicting messages, taking your profits is never a bad thing out there. But even though these short-term signals, price hasn't really done much in any kind of a sell-off. Well, I guess lastly out here would be to watch the Dow Equity Futures contract. It has not been able to clear resistance, resistance being 27.042, but if it does, if it did, then its price target is 27.375. Now look, we're about to go to break out here, but let's look at the Market Breath for the S&P 500. And what you're going to see out here is each of these are also bullish. These, 60-minute, 240, daily and weekly. It says be very cautious in shorting this market right now. We'll be right back. 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Buford Poster, you've got to love that. HD wants to go take a look at RIG. Rigatoni Trans Ocean Limited, RIG, is the ticker symbol. Wondering about support and resistance on these. The last three days, HD, we saw RIG hit resistance. That was the top of its daily profile. So 480 is a real key level for it to clear in order to continue to move higher out there, price below support from a monthly standpoint, meaning below the bottom of its profile. And on a weekly basis, the profile bullish and structure runs from 404 up to 515. So we would say a close above 480 should bring about the 515 level out there. So the question is, the question I have, did RIG form some type of bottom that you and I like to look at? Well, it just so happens that it did. If you take a look at the low out here, October 3rd, the bar following, bar number nine of a TD setup nine count, that made the low, there was your signal. And prices made it up to resistance. In essence, whenever you get a bottom or a topping signal, the very first thing to do is to look for support or resistance on the way up, on the way down, because that becomes your target. So the first target has been fulfilled inside of RIG based upon that daily bottoming signal out there. So you're wondering about support and resistance. So we'll leave it there. You also wanted to take a look at, I believe, BKCC. Let's go see what BKCC is. That is a BlackRock capital investment, BKCC. In this case here, below everything. Daily, weekly and monthly bottoms of their boxes. So there is no support from a TAS market profile standpoint. So let's pull over Stevie's other charts out here, see what we've got. We see no bottoming signal or pattern out here on the way to the downside. So let's get off of the daily and go over to the weekly. So we have on a weekly timeframe chart, intermediate term timeframe. This is going to be, it should be, a week or bar nine of a weekly TD setup nine count. The last nine count didn't do anything. It was a sideways move. When these counts occur, you'll either see a sideways move, a little bit of a hiccup, which is basically one or two bars to resume. It's moving that continued direction or an actual turn out here. So far it looks like bar seven is the low. That's at 475. The low today, 476. So today or tomorrow, we need to see price move below 475 in order for the count to offer you a potential bottom signal out here, but I'd be careful. That's what the weekly chart shows. So if the weekly chart shows a bottom signal, usually you'd see something on a daily timeframe. That was the reason why I said be careful out here. But the weekly says, yeah, it's trying to form a bottom. The monthly says it's an opportune time to form a bottom as price moves lower. That was with less relative energy. So well stretched to the downside out here. Wave count wise is in wave number six or letter F to the downside, but you need to see a bullish reversal signal before you'd even consider this confirming a rose momentum indicator bottom out here. So with regard to black rock capital, at this stage, we don't see a bottom pattern. Now the daily, maybe it could, let me see here, let me see if I pull this up here, under the covers real quickly. Pull this up. Yeah, so the daily, if the daily can make a lower low, get below the low of October 4th. You would see a rose momentum indicator signal get triggered. And so keep watching BKCC. Keep watching for price to push lower, push even lower, and then start to look for a bullish reversal candle because of the daily and the weekly chart, as well as the monthly that we looked at, no go as we speak right now, black rock capital investment, unless you know something that others don't. I just don't see it in the chart out there. So HD, thanks for writing in. Always good to hear from you. I hope that that helps you out. And of course, folks, I want to hear from you as well, although it's getting late in the show to get those emails and be able to go take a look at your requests. But let's go take a surf around, see what else it is that we can figure out inside these markets. What's going on inside the New York Stock Exchange, Advanced Declined Oscillator is at about 60. 60 and change out there may be gunning for plus 150 where you could see then the next top inside the New York Stock Exchange. I don't have any topping signals. We've got a higher high in the Advanced Declined Oscillator reading and a higher high in price. So there's no divergence pattern, which is typically present when the New York Stock Exchange makes its market top out there. We don't have that pattern in play. If I take a look at the New York Stock Exchange itself, let me switch over to the daily indexes out here. And the New York Stock Exchange is in bar number five, wave number four, wave number four. Baz likes to say at wave number four something else can happen. The last time we saw wave number four on the way up, the something else was just a sideways move. And so I can't tell you whether that's going to occur this time or not. But I don't see any topping signal as we speak. Speak of right now inside the New York Stock Exchange out here. I would more so be focused on the Advanced Declined Oscillator reading and price and what it's doing and looking for those divergent patterns or the plus 150 level to be looking for some type of potential top. Gold. Well, we can go look at gold. You know what? Now I'm just trying to see what else is it that I can look at here? I'm just kind of scanning my screens. Scanning my screens to see if there's something that's really pertinent, helpful to you in identifying what the market is. So let's just take a look at the XLK. I don't know if there's anything really helpful here or not at this stage. It did pull back today. It potentially could be in wave number seven. That was from a couple days ago. I don't really like to... It is for the way that I do the counting valid but because there was wave number five to the downside it's more likely on the wave three to the upside inside the XLK. Maybe today price was testing support or close to support at $81.16. It didn't get totally down there but nothing broken down in the number one dog inside of the S&P 500, the XLV sector. Is it doing today as a close above resistance? Resistance being $91.91 where it last broke down. The last level of resistance here is $92.52. Now this made a nice roads momentum indicator bottom out here. If price can clear $92.52 doesn't have to be today. If it can close above $92.52 this thing is headed higher. Today is going to be day number five of a TD setup nine count. Modders will look at the XLF out here so you've got the top three sectors making up a substantial percentage portion of the S&P 500. In this case when price pulled back inside the XLF it was right back to its breakout support at $26.41 that was back here in October. October the third probably October third. Yes that's what it was. Nothing bearish about in fact if anything the XLF is bullish because the green line turned red and then back to green on October 14th and price was testing the oscillator and change line out there. So all that the XLF needs to do is clear $28.29 that's the top of its current daily profile to continue to motor on the higher price. Maybe what it does is it sets up a oh that's interesting. Maybe what it does is it sets up a TD setup nine count top. So right now we've got the DAWA 43 S&P 11 and the NASDAQ 125. Since 1984 Basil Chapman has been using the Chapman Wave methodology to advise traders of his expert market opinion. While originally hand drawing charts from the late 1970s into the 1980s Basil noticed that prices under most circumstances virtually always had a certain number of legs to the upside before declining sharply. Later Basil found that computer software which included the standard market technical indicators enhanced the degree of accuracy in calling price turns as well as market trend calls. Thus was born the Chapman Wave sequence. Using the Chapman Wave methodology along with other indicators Basil Chapman advises his subscribers of his expert market opinion each market day with his opening call newsletter. Right now you can get a two week free trial to the opening call Basil's daily trading newsletter by visiting the front page of TFNN.com. Cancel at any time during that trial and pay absolutely nothing. Get your two week free trial to Basil's newsletter the opening call today by visiting TFNN.com. 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Stay tuned because coming up next is the power trading hour right here on TFNN. Folks, there he is, Buford Pusser. Buford Pusser from walking tall. Real guy, right? Real, you know, he was a one man wrecking crew in Tennessee back in the 70s out there fighting corruption and all that kind of stuff out there. Moonshining I believe it was, just you know the whole nine yards so to speak. Okay, so what are we gonna do here? You know look, here's the deal. Here is the deal, the tug of war, the fight between bulls and bears, definitely on. Now we say definitely on because as we took a look at earlier when you take a look at those short term timeframe signals here, one hour, two hour, five hour. They're all showing topping patterns or signals that are out there. So for example, let's just go look at the, we got signals in the five hour just to kind of take a, as we close the show what does that mean out here? If we look at the five hour timeframe chart for the EES many years we know price is moving higher doing it with less relative energy out there. At this stage here we don't have a bearish reversal signal or close below Stevie's green line which is 29.97. Bar number six is unfolding that we'll complete at 2 p.m. I believe. So you know, price is getting stretched out here but the stretching can go away with some type of strong momentum to the upside. So it's just a potential pattern out there when you look at the EES many. If you look at the two hour timeframe chart here in the EES many it's got the confirmed signal. It's got the, we've seen several confirmed signals out here but price hasn't been able to bust through support and real support out here on a two hour timeframe between 29.66 out there. So again, it's just a tug of war between bulls and bears out there. That then says, okay, what are the daily messages out here? You know, no matter how we skin this cat, not that we want to skin a cat. The message right now from the EES many, it's bullish. The NQ, it's bullish. The Russell's actually bullish but maybe resistance at 1548 and the Dow is the only one in check right now. 27.042, that's the key number to be watching because if you see it close above that you've got bullish messages across the board on the daily timeframe which will roll over the short term timeframes eventually. So folks, stay tuned. Thanks so much for being here. Two more great hours up. Polar bear from three to four, two to three and Obi-Wan Kenobi from three to four. I'll be back with you tomorrow. Thank you.