 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 from TFNN Welcome to the June 6th, the terrific Thursday edition of today's Trader's Edge show. I'm your hostie be 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 How about we have an extraordinary one? Yep Let's have an extraordinary day in the easiest way to do that It's to always remember that life is happening for us not to us That's right when you and I make that one little two-by-four shift means we can find the gift in every set of circumstance that life is gonna toss at us Today, you and I we're gonna go check on the circumstance of these markets We're gonna go figure out what the buyers and sellers with the bowls and bears are communicating to you And I just passed one o'clock in the afternoon. I do want you to know that I'm absolutely grateful for your presence here But more importantly, I'm here to serve you during this next hour So feel free to give us a call at 877-927-6648 if you can't call in we've got you covered let those fingers do the walking That's right. Send me an email steve at TFNN.com inside this subject heading Please put radio show question in the course in our tigers den any ping will do so let's go ahead get this show started on terrific Thursday Of course, this is tiger Financial news network. I'm Steve Rhodes. Welcome to let's show right now that up 76 points trade out at 25 6 15 S&P's up about 7 NASDAQ 100 up about 11. Russell is off 11 points and change the semis are up 8 New York's dock exchange of 25 points. Wilshire 35 transports are down 144 points They're leading the charge to the downside off one and four tenths percent spot volatility index is Hovering hovering right around its 50-day exponential moving average line right now trading out of 1598 Goals up 990. That's where we're gonna begin the day But first who's leading the charge the upside its auto zone about 20 bucks Mercado Libre nearly 10 and change Tesla about nine sure when Williams nine to the downside gravity company off I think it was down yesterday 16 percent today 13 bucks booking holdings off 12 no big deal They're seven tenths of a percent so plenty to look at of course what we want to look at was what you want to look at The first request came in from Peter in our tigers den and Peters asking the question about a specific question was Can we talk gold what we're going to talk gold and his question was did the five-hour chart 300 minute chart TD 9 count go away It did not Peter, but let's take a look at it, but it's long gone. So to speak Let's put up that five-hour time frame chart and what Peter is referencing is that way back here This is at four o'clock in the morning. This is on the trading day of June 3rd We can see that there were there was nine consecutive close on a five-hour chart where the close was above the close Four bars prior to that and at that nine count its bars eight nine to the bar following Where we look to see if there is a top or bottom in this case here would be a top What we can see here is the bar following bar nine not labeled 10 But our following bar nine price moved higher right after that Peter that told us that the TD set nine count that there was strong Momentum that was not going to Identify identify any kind of a top out there. However However, however That's not the issue that's at hand for gold on the five-hour time frame instead What has formed since then has been one of those roads momentum indicator tops It's simply where an instrument for whatever time frame moves higher does with less route of energy and then gets confirmed And there's other things to it There's a five-step process I teach subscribers how to do that and then there is the bearish reversal candle it took place yesterday At 2 p.m. So right now resistance for you is going to be the high from yesterday That is at 13 48 90 clear that that would be a positive thing Now you've got a topping signal on the five-hour time frame. We talked about this yesterday I noticed peter that you also point pointed out in the den the goal is straight above 13 40 40 it is by about three buck runes But of course yesterday was day number nine It may not be that easy to see the nine because of the down arrow that is out there But yesterday was day number nine if And that says that unless today makes a higher high which it could but unless it does Resistance you've resistance in essence is the top of that shooting star Now all you have to do is go over to the left-hand side of the chart See the three river evening star and all the resistance is there as well And that's actually priced at the high of that pattern That's that little doji candle, but that's what that was following session that set up the three river And that's 13 55 30. So gold 13 55 30 is the level that needs to be cleared in order to get out of the woods So you're up at resistance And that's in essence I would say the theme of the show or at least the beginning of the show today is Everything is up at resistance style or type or pattern Areas out there and that is including goldilocks. Do you sell gold? Do you short gold the answer steve would say no you can't do that? Well, you can do anything you want I would say you shouldn't do that Why would I say you shouldn't do that if I'm saying hey There's problems or potential problems in river city The reason I would say that is you need to see some type of level of support being broken And for me that level beyond profiles out here would just simply be That would be on this 30 minute time frame by the way the number is 13 35 30 That's where gold most recently broke out when I say breakout We're referring to is in order to have the strength that have nine consecutive closes above the close four bars earlier That is where you see a concerted effort by bulls to make the run What we don't know is if price pulls back to that area Are those bulls still ready to make that run as prices coming back to support the breakout area So you can't or you shouldn't it's 13 35 or 13 43 you should not change course if you're long Precious metals well specifically gold we're talking about gold or or really the mining equities out here You need to see a break of support and peter. I don't see it up at resistance What action do you take if you're long you say you stay long if you're not long you don't get in now Because you're up at resistance in a way to see if there is a pullback if support gets broken so Does that does that help you out jay with regard to what goldilocks is doing finally We'll put the the finishing touches on that By taking a look at gold trading into its weekly profile the top of the weekly profile should say that's 13 41 50 So we know there's lots of resistance up in this range between this 13 40 level and I think it was 13 50 What was it 13 53 80 that is your resistance zone for goldilocks Hope that helps you out now. I had mentioned that the theme really of this morning should be resistance Well, not that it should it it is What do you mean? Well, if we just simply take a look at the way that the market is trading where it's trading into We can just go take a look at the es mini as an example and here Well, we have our daily our weekly and our monthly horizontal trading range levels You'll see that I've got three different colors red green and a blue blue is the daily Green is the weekly Red is the monthly Price the es mini that is made this way up to 28 40 28 40 is a weekly horizontal trading range boundary line Price is up at resistance trying to figure out its next move That's the es mini s and p 500. We'll be right back The taz profile scanner is the most revolutionary piece of trading software that you will ever try Wouldn't you like to approach the markets with confidence as you begin your trading day? 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So we were talking about resistance as we were going into that break We were taking a look at the es mini you take a look at the two other equity futures contracts You'll see really the same thing going on here. Here's the nq 72 39 and change is the daily horizontal trading range level We can see how prices stalled there and so it's making a determination It's just maybe it's just resting as it knows that it's at resistance That's the es mini that's the nq out here And if you can clear those hurdles then it moves up to its next horizontal trading range level So what you're experiencing what you're seeing today a little jostling around Is to be expected and anticipated as you run into resistance if we take a look at the dow Here's the third one now the dow itself is showing a bit of strength The dow is a making a move above 25 558 or 25 6 29 So it's got a mind of its own. It said that resistance Smistons something like that you kind of get the picture So the dow is saying I want to make a run for 25 8 55 out there If we go take a look at the dow equity futures contact remember 25 8 55 If we look at the dow 25 7 79 is the top of that box So there's your range for the dow's next move out here by the way for the es mini It wants to poke its head and go check out 28 45 whether or not it takes out that plateau I don't know but it's the race between the dow and the es mini They're going to be first up or should be first up to their resistance level It's not going to be the russell It's not going to be the nq or it was not likely to be either of those So we want to go ahead and continue to pay attention to both the es mini and the dow And watch how they respond when they get to when the case of the ym the dow equity futures contract gets next resistance level That's 25 7 79 out there if we take a quick peek just to get the health of the market out here We'll go check in with the doctor the doctor says hey, let's go take a look at the new york stock exchange This is doctor nyse And what we can see out here it doesn't look good looks like this this is signaling a bit of a retracement To to take place or possibly take place. Let's see what the end of day reading But you can see how the advanced client oscillator turned down right below zero never really a good sign out here We'd say it's an okay sign as long as a spot ball till the x closes below its 50 day exponential moving average That's priced at 15 90. We're trading at 16 of buckaroonies one dime. Does one dime make a difference? Yes makes all the difference in the world So with regard to the health of the new york stock exchange, it's got a cold right now I don't know if this is just a one day cold If this is just a little bug or if this is the real thing What do you mean the real thing, you know a retracement a pullback Maybe in the end maybe even the end of a counter trend rally, although I don't think so But we have to be on guard doesn't matter what I think it's all about what do the chart patterns say to you And I and that's what we do around here. So let's go take a look at the first email request Uh, this one coming in from uh, john in sarasota john writes in good afternoon steve Good afternoon john john says which direction do you think the x le is headed in? So let's go take a look at the x le that is the energy sector for the s and p 500 and john There's really a couple things that you and I need to do for going to evaluate The x le I'm not pulling up the correlation chart, but we know The direct correlation between it and the price of light sweet crude So let's first check in on light sweet crude and here's what we can see out here We can see that It's in an a to b equal cd to the downside. That's light sweet crude. That is black gold texas t What we can see is prices made the one to two A to b equal cd. That's at the 51 28 level word 51 47 as we speak now If you are a reader an avid reader of the art of timing the trade, I don't know what page it's on But there's a page that says When you do a one to two way to be equal cd, you're likely to do something else Now those are verbatim or sort of verbatim or paraphrase, but from the words of our fearless leader obi one kanobi out there So you've got a one to two a to b equal cd inside of light sweet crude says be careful now That doesn't mean because i'm sure there was an asterisk inside that book on that specific sentence That said well, you could go to the 2.618 expansion So wait for one of steve's bullish reversal candles before you're ready to say the one to two a to b equal cd Is a bottom and this is what we mean out here We take a look at the july contract for light sweet crude. Do we see a bottom? We do not just yet. However, the timing of your question is a marvelous out there It's kind of like a setup. What do you mean a setup? Well, remember in the td setup nine count pattern In this case here moving to the downside nine consecutive closes below a close four bars earlier Well, we got that pattern a couple days ago and yesterday Should have been may have been that wash out low to the downside because that was the bar following bar nine So john in cirrus soda yesterday's low may have been the low What you'd now like to see is some type of bullish reversal signal out here Doesn't look like we'll get it today. Maybe we get it tomorrow Maybe we don't until we get it price can't continue Moving to the downside But the daily chart for light sweet crude is saying be on the lookout be on the lookout B. O. L. O. That's right. Bolo Instead of bogo Be on the lookout for a bottom inside of light sweet crude Well, if you're going to get a bottom inside of light sweet crude, you're going to get one inside of the energy sector the xle Um, it did not make those bottoms. There's an a to b equal cd here It's a different a to b equal cd pattern than that from a light sweet crude It's a to b equal cd pattern It completed or very close to it back on may 31st out here And in the case of light sweet crude the very following day on june 3rd You've got a bullish reversal signal now prices above steve's red line. It's at about 60 31 is the number out there So the xle is saying hey, I've bought them but john I say Or I suggest That what you do is you wait for light sweet crude to give you that same Bottom signal before pulling the trigger here If you do get that bottom Then I would anticipate that light sweet crude in the xle will rally for a week or so out there At least rally up into the price point in the xle that is its breakdown took place out here on may 22nd That price level was 64 28 So hope that helps you with regard to what light sweet crude is doing That's going to help you with regard to what the Energy sector for the s and p 500 is doing as well Looks like we've gotten all the questions phone lines are open eight seven seven nine two seven six six four eight Email lines are open. I do get an email here from mosquito trap No idea why I got that but I did and of course inside the tiger's den just feel free to just go ahead and Uh, let me know what chart it is that I can post for you So right now we got the dow up 85 s and p seven six sixty six That sounds very double shout there nasdaq up nine. It's the russell 2000 That's a little bit weak out there any patterns inside the russell to How do we know that? Look at that beautiful did I say beautiful beautiful td set up nine count Thus far that has identified to the bottom That's what the short term time frame charts for the russell 2000. That's its message to you on 26 I'm certain you are or strive to be one of the best of the best at everything you do in life It's the most common trait that we tigers and tigers share If you're looking to become the best of the best when it comes to managing your money Let me teach you to do what most wealth managers tell you can't be done Which is how to time the markets I'm steve rhodes author of mastering probability and for the last 12 months timer digest has been tracking my newsletter signals Which have earned me the ranking as their number one market timer in the nation for the s and p 500 for the last 12 Six and three 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 home page of tfn.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 to 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 is a perfect time for a 30 day free trial to this powerful daily trading advisory service David uses his years of trading experience to offer his subscribers his trading ideas each morning in his path of least resistance newsletter Using a combination of equity trades along with options David keeps his subscribers up to date with all pertinent market information with intraday afternoon updates when warranted Don't miss out on this great chance to get a 30 day free trial to david's daily newsletter The path of least resistance with no obligation to pay anything David has been delivering solid recommendations for his subscribers recently And if you'd like to see the type of newsletter he delivers every morning Then visit the front page of tfnn and you'll find the path of least resistance under trading newsletters For all the details and to start your 30 day free trial today log on to tfnn.com now 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 guardleafs abc's butterflies and much more the art of timing the trade charts This 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 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 Welcome back folks. I must have been a mind reader. Um, which is kind of weird, uh, but uh, because uh lee b Said then the following question. Hey steve the iwm is definitely stalled Can you give me your thoughts on where we are going short term and as we were going to that break? I had just pulled over the 30 minute chart for the russell 2000 equity futures contract. So lee at this stage here My assessment at 130 is that the russell 2000 Uh, short term bottom and it did that at 12 noon as it was completing and forming that td setup nine count Now look, it's not a guarantee and then where's it headed to? Well, it's going to head back up to resistance that resistance would be Where this little nine count began that was at 8 30 this morning that high is 15 13 That's the level that you'd like to see price take it Price that's that's a level of resistance. You would like to see fail But then there's a secondary level of resistance That's the high that took place at 7 30 morning on the 5th of june yesterday. That price is 15 16 20 Now if price doesn't move higher and instead moves lower and takes out the low Then price is coming back to these horizontal red line where that breakout began to the upside And that price point is at 14 81 70 you asked about short term Those would be the short term Numbers that I would be focused on because I am focused on them as well But this stage here So you've got my short term on numbers. I hope that helps you out If not, let me know now with regard to its market profiles, that's the right hand panel of the chart You can see that price is trading. This is the daily time frame now. So we went from a 30 minute to a daily time frame Here you can see the top of the box at 15 26 the bottom of the box at 14 70 in the centers Pretty much in the center at 1502 So, you know where your level your larger term level of support and resistance are inside the wrestle 2000 And now you know what's going on a short term Wise out there and again lee you got to put all this into perspective. Everything is up towards really Resistance, which makes a lot of sense Especially after the big move off of the bottom that in essence began on monday In earnest on tuesday Good follow through on wednesday and now today just trying to figure out how it wants to go ahead and tackle These resistance levels. So I hope that that helps you out this rally should continue for A few weeks But we'll take things one day at a time Our role is just simply to read the message of the markets But that is the message of the markets as we speak right now So no, there are questions that we've got inside the queue at 133 I don't know what we do with the next 27 minutes out here, but Um Den fire him up. Let me know what it is that you want to take a look at in the meantime Let's go look at some of the equities that are moving and grooving auto zone Azo is the ticker symbol Let's try to get a feel for where it is headed to let's look at our three time frames Out here daily weekly and monthly and of course we can also get the quarterly set of profiles But boy auto zone yesterday taking out resistance that being the daily Profile level of 10 60 and then look at that shooting star out here on may 28 that high is 10 81 you're at 10 90 you can see resistance taken out on the weekly base. That was 10 74 well above resistance Monthly and quarterly so that looks mighty darn good. Let's pull over the daily time frame chart the other daily time frame chart We don't see any topping signal. Well, let's go look at the daily volume What is it today is 179,000 chairs so far versus 521? So seems like it might be light in the loafers for the confirmed a to be equal cd to the upside But the non confirmed version would take us to a price point of let's go take a look at that drum drum roll Johnny that'd be 11 21 to 11 51 the first one was the one the one the second one was the One to 1.272 a to b equal cd. Here's what we know about auto zone volume or not It's trading above all kinds of resistance out there and that is a bullish outcome And therefore it should be targeting 11 21 to 11 51 Azo being its ticker symbol also moving to the upside you've got lending tree t Re is the ticker symbol out there Let's go ahead and get that up on our three time frames get a feel for what it is doing or where it's headed to Also above its daily profile out there and taking on a prior swing point That swing point force from the trading session of may 6 had volume there of 217,000. You're already at 110 So that's a beautiful thing now the high that you're looking for it to clear and close above is 400.95 or 400.30 You're trading right into it 404 was it a 404 40 right in the top of its monthly TAS market profile So you can see the resistance of the prior swing point on the daily on the weekly on the monthly monthly You know too early in the month really gauge volumes out here, but we do know resistance 404 40 out there That's the level 404 40 stevie says price needs to clear in order for it to continue to move higher And what we can see out here on the daily basis prices beginning to move higher doing less relative energy out there Should have bearish reversal candle form price ought to pull back to that breakout area that was on april 16th that low 358 10 that would really be a level of support on any kind of pullback Lending tree up at resistance. Let's go look at something that's breaking down Let's go look at is it this gravity? Here's what's that the one that just yeah, it's grabbed a g r. We didn't look at it Um g r v y almost gravy the gravy train doesn't look like a gravy train But man, let's go turn it into a gravy train out here Pulling back today the volume on it so far about 167 000 chairs But you can see pulling right back into and testing the bottom of its weekly profile at 61 40 Let's go over to our other charts here. Let's put up. Oh, what was it g r? What? G g g r v y gravy, of course But let's look at it this way might be a little bit easier for everybody see daily then weekly then monthly Profiles out here. So we know about the weekly time frame. Let's go put up the weekly time frame Let's go take a look at it. I'm sorry. This is the daily time frame Here's what the daily time frame this chart. This is the daily time frame chart Here's where the breakout began. This looks like where gravy gravity is pulling back You can see it made that road momentum indicator top that was confirmed by that bear bearish engulfing candle Back on april 25th now price is pulling back to where it had broken out. That was on april 27th that low out there is 57 50 57 50 out there is where the gravy train or gravity looks like it's headed back To although there could be even more trouble for this equity. Why do we say that? Well, this Has a at the this stage of the game. It's early part of june But it's got that bearish reversal signal out here TD set up nine count potentially, but it's got the roads momentum indicator at that bearish reversal signal This thing gets below 56 71 gravity will have lost its gravity to the upside and the gravity will be heading much further Lower what else do we have that is moving and grooving out here? Well, whatever it is We've got we're not going to get to it the reason being we're headed into that next hard break in about 10 seconds So the dowels up 83 s and p 7 nasdaq up 10 the thing to be watching today folks Spot volatility index again that 50 day exponential moving average number that's coming in at 15 90 or at 16 buckaroonies 15 90 You close below that signals Continued with higher in the s and p 5 If you're in the cd market and looking for a secure investment The tiger first mortgage program may work for you The security for these first mortgages are building lots in the tax opportunity zone in st. 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If you'd like more information about the tiger first mortgage program, you can call me at 877-518-9190 That's 877-518-9190 If you haven't checked out the newsletters page of tfnn.com What are you waiting for all of the tfnn newsletters are informative up to date Affordable and a must-have for every trader looking to gain a competitive Informational edge in today's markets tfnn newsletters cover every aspect of the markets to offer you the very latest in market news Plus new subscribers get to test drive our newsletters risk-free for 30 days From all aspects of the markets including stocks bonds metals commodities and tech There's a newsletter to fit your needs exclusively from tfnn Stay informed each day you trade and get the competitive edge that will help you stay ahead of the game Visit our newsletters page by going to tfnn.com and click the newsletters button near the top of the page tfnn.com educating investors Biotech is booming But for how long whether you think the biotech bull has room to run or has run its course trade labu Or labd Directions daily smp biotech three times bull and bear etfs Visit direction investments.com Slash biotech today an investor should consider the investment objectives risks charges and expenses of the direction chairs carefully before investing The prospectus and summary prospectus contain this and other information about direction chairs to obtain a prospectus or summary prospectus Please contact direction chairs at eight six six four seven six seven five two three 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 Don't forget you can listen to tfnn live on your mobile device 24 hours per day Go to tfnn.com then hit watch tiger tv That's tfnn.com then hit watch tiger tv for the latest market information Welcome back. God. That was up 87 smp seven question inside the tigers then coming from john and philly wants to take a look at two stocks walmart and i think it's Shopify shop And the question is uh, both are in extended bull runs. What price if broken Suggest the end of the rally trend. So in the case of walmart john Uh, if we come back and take a look at the daily profiles It's level a waste management. Oh, sorry waste management waste management. Um What am I thinking what what am I thinking the green machine out here? So sorry about that But a wm, uh, it sounded like it could have been walmart, uh, but wm waste management We got the right chart. So that's okay. It's just uh, stevie can't even read out here Right in front of you. That's called the skidoma But uh, here's what we know about waste management. Wm is a ticker symbol John the the way that I would answer that question right now Its first level of support here would be the top of that daily profile 109 99 I would say price would have to break below the bottom of that daily profile 108 29 now where walmart broke out was on the trading session We use that td setup nine count of may 10th and that then gives us the level of 104 60 so those would be the levels where Price would need to close below to say that the trend is over But if we take a look at this stock right here I was trying to figure out well, where the heck is this thing going right because it's up above all those profile levels But where is this thing going and the only way that I could really do that with a stock like this Was to go back and take a look at its horizontal trading ranges in the wallah That's what we have done and today's theme is say Markets are making their way towards resistance and that's what we can see here in the waste management chart that resistance level 114 0 1 the high so far 113 50 that's the weekly horizontal trading range boundary level if price is able to get above that then the 126 128 level would become its next price Target area. I hope that helps you out the next question was uh our next equity was out here. Yeah, it's it hasn't it's been trading, you know since about 2015 the monthly chart here is not really going to give me Great market make great horizontal trading ranges at least weekly and monthly just too much of a rocket ship So not much in the way of pullbacks out here So we're going to have to go resort on shop. Is it Shopify? Let's go see if that's who it is It's shop. It is Shopify and now you're asking that question What level needs to be broken through to say that there's a change in trend? Really the same kind of a thing as waste management. We'd have to look to the top of the daily box 258 31 quite a bit lower than where it's trading right now in the case of Shopify What I would be paying attention to is that price on a daily basis is moving higher doing less relative energy out there So if there were a bearish reversal signal, that would be your first indication of some type of pullback We did see that pattern out here Complete that we've seen it twice We saw it complete That road roads momentum indicator top of may 24th But price found support at the top of that daily profile happened again On the 29th when the 30th generated a bearish reversal signal and again price found support at about that 268 31 so Another bearish reversal signal I'd watch that 268 31 level to See if that continues to hold as a support the weekly and the Monthly time frames don't show any topping Signals or patterns out here as we speak. So Strong like bull continues to be strong like bull and those would be the levels that I would be watching specifically The 268 31 or really the low of june 3rd at 260 217. Hope that helps you out. Thanks for writing in and uh And correcting me as well that that was not Walmart but instead waste management tim writes in and says steve two questions Apparently we've got the two for our going here, which is just fine with me. Where's the money coming from? For the s and p overseas or oh, maybe this is the choice I get a multiple choice of questions has xe c bottom and where's an entry point? Let's go with both out there the money from overseas Is coming from europe primarily from europe out there And and we know that how do we know that? I would pull up a chart, but it may take some time. I'll do it during the break out there tim Or I'll try to do it during the break, but uh, it's it's every Big european money is trying to find a way to get their money out of dodge That's people in the uk it's people in all over europe out there And all that money is flowing into us dollars People will take a look at the us dollar index and see it's down 416 ticks at the moment, but uh, You and I we are really we're smarter than that. We say we'll go take a look at treasuries out there Take a look at treasuries. You want to see how you get money from euros into us dollars or yen into us dollars Or any currency into us dollars go buy treasury bonds out here Really, I mean just simply that's what you do and that's what's taking place in pound sterling and yen and euros and dollars So it's coming into us assets out there and us dollars So there's the answer to your first question out here. I've got a chart that would really even prove it to you more Um, but let's go take a look at the second question here Which is because we love spotting good bottoms out here and that's ticker symbol x ec And we've got the tools to do it. So let's go take a look at x ec See if we can go spot a bottom for uh, tim. Now, that's uh, sigh Merrick's energy out here. We take a look at the daily We take a look at the weekly and we take a look at monthly. There's not anything here, tim That looks good Uh, what we mean by that is prices trading below all Profiles out there and now what we can see on a weekly chart really in a monthly chart We can see prices now attacking a swing point that swing point is from the trading week of december 24 2018 That number is 55 62 you're at 55 50 as we speak right now The volume back there on a weekly base was six million shares. You're at five one today This thing looks like it's pushing into that swing point with volume and if it closes below 55 62 It says it's got further to run however And this is the however We know we're up at support. Maybe tim this support level holds 55 62 I presume that's one of the things that you're looking at out there So how we know if that is going to be a bottom at least a viable trading bottom out there And the answer is we're going to watch the low of today if the low of today. No, I take that back It was yet, uh That was yesterday that should have been the low and we're below that low out there So you wanted to find a bottom I say you've got to be patient now because that td set up nine count also did not Identify a bottom or pushing a swing point With uh with some volume out there on a weekly basis I think yes gots to be patient now on a weekly basis what we can see out here tim's price is moving lower Doing a less relative energy out there if you were to get a bullish reversal Candle then you could see at least some type of counter trend rally That would be on the weekly chart you would be looking for that We don't have that as we speak and as we look at the monthly chart just to see if there's any kind of bottoming signal Out here we see how it made a top it did it on count nine Count Dracula nine of that td set up nankah. No, this is a bummer because on a monthly basis price this month this this month exceeded Wave number seven letter g singing in the key of g timmy I think you all you timmy because you can call me stevie There's something wrong with simarix Or simarix energy company It's probably best to stay away danger Basil Chapman has a special subscriber webinar coming up wednesday june 12th at 5 p.m. Called the tide In this webinar basil will be demonstrating techniques that can help one identify whether the tide is coming in or going out That is whether a trend is bullish or bearish in a variety of time frames and basil will be speaking specifically to indices Currencies commodities interest rates and key stocks The technical tools that basil will be discussing are available on almost all software packages That will be shown in historical context as well as live for current market setups Identifying the key trend allows one to trade with the tide rather than against it Subscribers also gain immediate access to three archived workshops So you can get started right away when you sign up for all the details on the opening call and basil's upcoming Subscriber webinar the tide this coming wednesday visit the front page of tfnn.com and sign up today It's amazing to think that tom o'brien started his weekly gold report 17 years ago with the first issue published april 7th 2002 when gold was trading at under 300 per ounce gold peaked at more than 1900 in 2011 and after spending many years consolidating at lower prices gold may be poised for its next big run Tom o'brien publishes his weekly gold report every monday morning for subscribers consisting of coverage of the xa u hui gdx the dollar bonds south african rand as well as 25 different mining equities with specific buy sell recommendations As of april 1st of this year the gold report currently has eight active positions with an average unrealized profit of almost 8 for each open trade new subscribers get a 30 day money back guarantee So you have nothing to risk for all the details and to start your gold report Subscription today visit the front page of tfnn.com. 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They ensure we receive all the nutrition we need to be healthy and thrive We take it every morning primal edge formulated and approved by nico and page of living a primal lifestyle buy it today For just 89 dollars click on the primal edge banner on the front page of tfnn.com This is david white stay tuned because coming up next is the power trading hour right here on tfnn Welcome back folks. So a couple of quick. Well, when I did find that chart Or set of tools we'll take a look at that as we go into the close. Let's get to this question This came in from steven and the steven writes in i'm in at&t with a gain is At&t going to continue moving higher from here. Is it going to drop? You know, if we look at the longer term picture steven first Um, we were looking at simmer x earlier We were noticing a monthly chart how he had had formed a td setup nine count. So did at&t on a monthly basis back in july of 2016 I believe it was. Let me see 2016 Now if we if we start doing our wave counts, that's a cheb and wave Count Out here, it's not the cheb and wave pattern, but just the wave counts. That's the same In fact basal's got a workshop coming up and I suggest that you go take that Attend that workshop and and learn his system out here But you can see that what at&t did when it made a bottom that was wave number seven That's letter g out here unlike samaric. So you've got a bottom from a monthly basis But of course, we can see it hasn't really done a lot Um, you know kind of trading sideways this we do like that. It's above 3103 That's the monthly stevy red line out there on a daily basis out here Just to you can see right now it's in between profiles of 31 60 to 32 42 Looks like price is headed to 32 42. We like how the pullback out here The pullbacks have come back to support the first pullback was the breakout that began on march the 11th The second pullback that began out here on may the 14th And a few days ago on may 31st when price moved lower was right into that pullback area We like the mere fact that two days ago. You've got a little bit of a hammer candle Some follow through to the upside. So where price is headed to at this stage I can't tell you that it's going to bust out Um of this sideways ish style range, but it should head back to 32 42 so hope that helps you out now with regard to the global flow of capital the real big victor Since the march 09 bottoms out here. That's 40 quarters ago has been the doll How? Christ in great british pounds up 407 percent. That's versus 307 percent if you're in u.s. Dollar terms In yen 356 percent in uh, oh it's 428 percent my apology in pounds 407 percent of euros USA, baby USA. Hey, stay tuned. David whites up next. We'll see you tomorrow take care