 Following is a presentation of TFNN The Trader's Edge with Steve Rhodes all now toll free at 1-877-927-6648 or internationally at 727-873-7618 The Trader's Edge. Now, Steve Rhodes. Good morning, folks. Welcome to the December 13th, the wonderful Wednesday edition of today's Trader's 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. I'm hoping out there is having a great day. Let's make sure we have an extraordinary one. Now, the easiest way to do that is to always remember that life is happening for us, not to us. That's right. When you and I make that one little two-by-four shift, it means we can find the gift in every set of circumstances that life is going to toss at us. Now, today you and I are going to go check out the circumstance of these markets. We'll go figure out what those bulls and bears, what those buyers and sellers are communicating to you and I at just past 11 o'clock in the morning. I want you to know I'm absolutely grateful for your presence here, but even more important than that. And that's this. During this next 53 minutes, I am here to serve you. So feel free to pick up that phone. Dial on in at 877-927-6648. Now, if you've got a question, but you can't call in, we've got you covered. Send an email. Send it off early if you would. Send it to Steve at tfnn.com. And then a subject heading, please put radio show question. If you're inside the tiger's den, well, then any and every ping will do. So let's go ahead and get this show started on wonderful Wednesday. Of course, this is Tiger Finance and News Network. I'm Steve Rhodes. Welcome to the show. Slightly mixed bag out there. Most of the U.S. indices that we're looking at are trading in the upside. Dows up two points flat. Eight points for the S&P. 47 points for the Nasdaq. Four points for the Russell. Nine points for the semis. We can't expect the markets to get too far ahead of themselves. One way or the other with Fed Powell coming out with his interest rate decision at 2 p.m. And then we go into the Q&A session that begins at 2.30. So all the fireworks should start between about two and I'd say probably about 3.30 in the afternoon out there. In the meantime, we're going to go take a look at all the instruments that we can, or that you've got requests on, try to figure out what they're communicating to us. The interesting thing here, if I were to give a poll right now and ask this question, if you believe that rate cuts are going to make, and I say rate cuts, so plural, not just one, not like a one and done, but how many people out there, I should really figure out how to phrase the question, how many people out there believe that the markets will move higher if the Fed starts cutting rates? Yeah, think about that. We're going to go find out the answer to that, at least what the historically what that typically results in. But it's not really what you think. In other words, just staying on this chart, this set of charts right here, we take a look at historically, now this is a monthly timeframe, so we're getting a bit of a bigger picture here. But the bottom portion of the screen is the S&P 500, and the top portion of the screen is the 13-year Treasury Bill. So it gives us a pretty good idea what interest rates are actually doing here. And what we can see, let's just start here on the right-hand side. We'll move back towards the left. So let's start with current data. What we know here is rates have been rising. If we take a look at the S&P 500, we know about that big bottom that formed out here, this is a monthly chart in the October timeframe. On a closing base, it was really September because we're just looking at a line chart here. But we can see that the S&P 500 has been moving higher, with interest rates moving higher as well. Is that unusual? Tevins to Betsy, whoever Betsy is, no, it's not even close to unusual. Let's take a look at the last time that rates were started moving higher. It was in that September 2015 timeframe. All the way, rates were moving higher all the way through 2019. What did the S&P 500 do? That moved higher. When rates started moving lower, there was a period of time here when the rates were moving lower and the market continued moving higher. But then it finally just caught up, rates were moving lower and so too the market. In fact, we can take a look and come back here during difficult times, the 2000, who's to say we're not in a difficult time now. We had interest rates start moving lower. What happened to the S&P 500? It moved lower as well. When interest rates started rising, what happened to the S&P 500? It too started rising. If we take a look at the 2007, 2008 timeframe, rates are coming down, what was going on with the market, the same kind of scenario out there. So the thought process that if interest rates get lowered, that the market is going to zoom to the upside, I could just simply, we're not talking about one and done. Which may or may not happen, I doubt that it happens today. But if we're on a consistent basis of rates falling out there, which I don't think that's what we're in, but just to kind of make sure that we're looking at the data and we're analyzing the data and we're not dealing with the emotional BS, that's out there or somebody thinks that, hey, if rates are lower than the market, because if you listen to the financial media, which I usually have on the background, flip between a couple of different shows out there, that's what they would have you believe. And you have to ask yourself, what the heck are they smoking or drinking out there? Are they not looking at this same chart here? Look, we don't have to just stop there. What we can do is we can go take a look at, so I'm looking at the charts and I see that they are coming out kind of blurry. I'm trying to figure out what's going on. That's really wild. So we don't know what's going on with the system here. And I'll apologize for that. Not that there's anything I could do. If there was something I could do, I would do it. But I see what you guys are looking at on your end. That is the craziest thing. You can see when I do post charts, and for example, I'll do that right now. I will go ahead and post this chart into the Tigers and that way you guys will have it. Now, if you give me a moment here, I've got to save it as a file. But I'm just going to take this off the same screen here. So I'm going to snap, crackle and pop this chart. So we're going to save this. This is what is called this interest rates. So it gives me an interest. Oh, man. Trying to save it in the wrong spot. Give me a second here to change that. Because I'm interested just to make sure that we can try to figure out what's going on here. So I'm going to post. I just took a snapshot of that. So at least those of you in the den, you're going to actually get a live, a better version of this. So that's right here. Now, it's going to be easier for you guys on your end. If you can tell me, is that chart much clearer? This is to be helpful for you folks in the den. Is that chart that I just posted inside the den? Is that much clearer than what's coming through on Tiger TV for you? Just so we can try to nail that down. What I'm going to put up next on the screen though is I'm going to put up the Dow. And we're going to take a look at the seasonal pattern. So that chart is much clearer. Thank you, Bill. Thank you, Dan. So, you know, that's, we're going to have to really try to figure that one out. So it's got to be a Skype issue then. Must be a Skype issue. Your live one is in and out of clarity. Yeah, I know. And we're really trying to figure that out, out here. Nothing has changed in on my system. Maybe a few updates or something along the way. In any event, I apologize for that. We'll try to fix it. I'll do what I can. Here, what we're looking at is we're looking at the last 25 years, the last quarter of a century of this are Fed rate cuts. So you can take a look at what during Fed rate cuts, at least you can take a look at behavior 10 days after that. Now, I'm not saying that we're getting a Fed rate cut today. But if you wanted to understand what we just took a look at on the longer term, larger scale with regard to rates falling and how the Dow or the S&P 500, we were looking at the S&P 500 earlier, how they respond. Well, here you go. So you've got all the data out there that says, hey, you know what? A raising rate environment is good for the stock market. Steve Roach with TFNN will be right back. At Ready Tigers, Thursday, December 14th, Tim Ord is back to host another stellar live webinar. From 4 p.m. to 5.30 p.m. Eastern time, Tim Ord will delve into the secret science of market tops, helping you, the viewer, with how to effectively call market tops in order to increase your success in trading. Tim Ord has developed this understanding over decades of trading and is ready to impart this knowledge on you. Visit the front page of TFNN.com today to sign up for Tim Ord's secret science of market tops. TFNN Educating Investors. If you're looking for potential trading setups in the stock market, then Rocket Equities & Options Report is a newsletter you should try. Tommy O'Brien delivers options and equity trades when the markets present them using a combination of fundamentals and technicals. Sign up for Rocket Equities & Options Report today with a 30-day money-back guarantee so you have nothing to risk. 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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. 727-873-7618 Three questions have come in. Let's go take a look at those, get those out of the way. Of course, I would love more, so you can give us a call at 877-927-6648. Send me an email, Steve at TFNN.com and inside the tiger's den, any ping will do. So the two questions that we've got, the first one is on Smuckers. SJM is the ticker symbol, so let's actually get over to that. That chart should be about right here. The Senate charts, and I'll do my best to describe to you what it is you're looking at, realizing that you may be looking at blurry charts out here. So this came in from John in Milwaukee. He wanted to take a look at the seasonal chart, so I'm going to have to get that going. And if you give me a moment, we'll get over to take a look at that. But first with regard to what's going on with regard to Smuckers out here, SJM. Today is going to confirm a TD9 count top. And that TD9 count top, then so the pattern will confirm today, it will complete tomorrow. And what that means is then we can see that the oscillator and change line, or I can see, I don't know how easy it is for you to see, but what I can share with you is the oscillator and change line changed colors yesterday, as a matter of fact, went from red to green. When that takes place, and especially when we get a topping pattern out here, which we're going to get today. But odds favor, as Smuckers will pull back the test that oscillator and change line. Now, that would be a buy point. That would be an entry point, as long as price tests and rejects that level. Right now, that's at $1,708. That's not the price point on a pullback where price will be, but just so that you have a feel for that. If you subscribe to Mastering Probability, I give you the directions on how to calculate that for you. So for SJM, you'll be able to do that right away. So you can understand where that pullback might be coming to. A resistance out here is at $128.66. That's a TD9 account breakdown level. When we look at the weekly timeframe chart, the weekly form with wave number seven bottom. That's the letter G at the bottom of my screen. You may or may not be able to read it, but that's what took place the week of November 10th. Now we can see that price above the top of its weekly profile. So on a weekly basis out here, we've got a breakout. We've got a change in trend. Price is well above its oscillator and change line. It hadn't been above the oscillator and change line since May 12th of this year out here. So we've got a change in trend for sure. But that change in trend is going to be met or should be met or is likely to be met with the first retracement on that daily timeframe. So what you could look at on a weekly time, a monthly timeframe, that is, you're going to complete a TD9 account bottom this month. And that TD9 account bottom says that smuggers should make a move up towards $133.28, $137.59, or thereabouts. So what I'd be watching for here, John, is I'd be watching for retracement. I don't recall if you're in it or you're not in it. You said, where's the buyer? Where's the seller? I think that was your question. So the sell is likely going to come today or tomorrow on a 30-minute chart. If we take a look at that here quickly, the 30-minute chart tells us with regard to smuggers what? It tells us that we have a top. We don't have a topping pattern. I take that back. Wave number seven potential top. We'll know in about the next nine minutes. As long as price doesn't spike above $125.32, that'd be the top that you'd have in place out there. Nonetheless, support is down at $124.31 and below that $120.29. So I expect or anticipate a retracement. I don't know that I'd trade this to the short side, but that's really up to you. And what I would do is I'd be looking for, you were looking where is the buyer? Where is the sell? Again, that buy is going to be in that 117-ish area. At least that's what we have right now. We have to just simply continue to monitor the chart. So you did ask about the seasonality for smuggers. So let's take a look at that. This is a seasonal pattern for 39 years. So we've got 39 years worth of data. And here, this tells us that we are in its favorable seasonal cycle, which quite frankly for smuggers, looks like it starts right here back in about April, which we know that hasn't taken place out here, because this thing was making a bottom in November. But nonetheless, you ask for the seasonal chart. And the seasonal chart basically gets to be that unfavorable status at the end of the year. Price moves down, it typically moves down into the end of January. It kind of follows along with the market and what the market is doing out there. That's over 39 years. Let's shorten it up just a tad. How about 15 years? What do we have? 15 years, really the same kind of cycle type pattern out here with regard to smuggers. Smuggers really, it's most unfavorable seasonal time period. Excuse me. Begins right around August the 17th or so, and then I would say down in towards the September 30th time frame. So pretty good looking start, excellent chart. If we take a look at its worst months, August and September, best month historically, or at least over the last 15 years has been the March timeframe. Doesn't really perform that well on Wednesdays or Thursdays. Typically, again, that's over a 15 year period. So thanks for the request. I hope that answered your question. I know your email came in quite late yesterday, so sometimes that's what happens with these ISPs out there. Let's go to our next question. This is coming in from Brent. And Brent is asking about Pfizer. He's not in it. He was in it for a short period of time. He got out of it last week. We know that Pfizer took a dump this morning, and that dump this morning is negating a monthly TD nine count bottom. And Brent's question is where the Sam heck is support? He was looking back at the charts and thinking that maybe the $25 area might be an area of support. What I can share with you, Brent, is that the next TD nine count breakout level for Pfizer on a monthly basis at 2353. And below that, it's at 1815. So those would be the two levels of support that I have underneath where we're trading right now. There is obviously an A to B, equal CD to the downside pattern. That requires a bullish reversal candle to confirm that pattern out there. If we take a weekly timeframe chart, the weekly timeframe chart does not have any kind of a bottom. Well, hold on, Stevie, take a quick peek here. A, B, CD. So we're in wave number seven, wave number G out there. That needs a higher low on a weekly basis. That means you couldn't get a confirmation of that until the end of next Friday out there for the most part. We can see that the last bottom, a significant bottom took place in February, February 26 to be exact in 2021. TD nine count bottom is formed to TD nine count top. Here's another TD nine count top out here back in December of 2022. But waiting for a TD nine count bottom, we've got weeks to go with regard to Pfizer out there. The daily timeframe, there's nothing here. Yeah, we basically got nothing. So let's do this. Let's take a look and see if we've got on Pfizer, just like we did with John. Let's take a look at PFE and see if there's any historical seasonal data. There most certainly is. And let's see how many years worth of data. We get 43 years worth of data for Pfizer. And we take a look at it. It's really odd. I'll get them in there. So we take a look at Pfizer. It was in the favorable seasonal timeframe. But we know it's not responding to that. But we're the favorable seasonal time cycle for Pfizer basically begins right around September, the third week of September. The unfavorable seasonal cycle for Pfizer pretty much begins right out of the chute right around January. The six moves lower into March of 17. Get a rally into the cell and may type cycle out there. And then it continues to move lower out there. So that's what we're looking at. We take a look at Pfizer's one more chart Brent. That I can share with you. Unfortunately, it's going to be pretty blurry out here. Not that these charts are apparently aren't blurry. So that's really quite frankly a bummer. A big bummer. But here I'll share it with you anyways. And that's the monthly horizontal trading range charts out here. So that's what we've got up on our screen right now. What we can see here is that price has made its way down to a horizontal trading range. Level of 25 58. There's been five. There's been five. There's been five. There's been five. 58. There's been five closes at that area. 22 at the 34 51 level. This says the price closed below 25 58. You get down to the 16 area. But you are the only level of support that I've got here. Brent is this horizontal trading range. Wait till you get some other better signals in the daily and weekly. We'll be right back. It's December Tigers. That means festivities, decorating, spending time with friends and family and the TFNN tiger dollar holiday sale. Don't miss your chance to receive a 20 30 or even a 40% bonus when you purchase tiger dollars. Once you apply your tiger dollars to your account, you will be able to use them for any TFNN product purchase instead of your credit card. Visit the front page of TFNN.com today to purchase your tiger dollars. Don't miss your chance to receive up to a 40% bonus on your tiger dollar purchase this holiday season. Every tiger who purchases tiger dollars will also receive a complimentary TFNN tiger mug with their purchase. Act fast. 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Don't forget, you can listen to TFNN live on your mobile device 24 hours per day. Go to TFNN.com and hit Watch Tiger TV. That's TFNN.com and hit Watch Tiger TV. Welcome back, folks. We have the dial-up 21S and P8, Nasdaq 38. The dial-up is up a couple of points out there. Let's get to our next request out here. Coming in inside the Tiger's Den from John C., watch Take Look at Tesla. And the question here from John is, where is support? So let's try to answer that question first. With Take Look at Tesla, we can see that it's trading now below its bullish-structured profile. That's a profile that formed a couple of days ago. And so the next level of support, geez. Well, first, I'm going to answer this question here. There is a gap to the upside. There's a gap to the upside that took place in November 14th that had 149 million shares. Now we've been trading for two hours, 46 million. So if we say 50, it's 150 basically. So you're coming into that breakout area with a similar type volume. So one level of support could be the top of the candle from November 13th. That's up at 225.40. As far as other levels of support on the daily timeframe, we don't have them other than swing points that we would take a look at. The weekly chart is starting to trade right now below the bottom of its profile. I don't know where it's going to end up on Friday, but if Tesla did close below 232.35, the next area of support would be 164.35. Now, there's a swing point before price would get there. So we'd be taking a look at that. That's a swing point from November 3rd. We've already made about 621 million shares. So far for the week, you've done 240. Monthly timeframe. The support area is where you're trading right now. And where you're trading right now is basically into the top of the profile, 229.53. It's not like that is really held as a key level of support or resistance. So I think that's kind of a weak one out there. Don't tell me I'm on the wrong screen. Oh, my God. Oh, Lordy, Lordy, Lordy, Lordy, Lordy, Lordy. Okay, so here we're back to it, John. Even though you can't see what it is you're now supposed to see out here, what you should be able to see is that price is below the bottom of its daily profile, 236.33. Here's your breakout. Here's your candle session from November 13th. The high of that session could be support 225.40 other than that. We've got basically just swing points to take a look at. Weekly chart, you can see that profile level. Here's your breakout area, 164.35. But we'd have to see how what price is doing as it deals with the November 3rd swing point. And here on the monthly timeframe chart, the price is dealing with the top of that profile. But it's hard for me to say after looking at the price action at that level that that's been a strong area of support or resistance out there. So I know that doesn't really give you what you're looking for. What I can share with you, though, is that it looks like we're going to get an A to B equal CD to the downside pattern. The swing point that we're looking at that's being taken out as we speak is from December the 1st. The volume there was 121 million. We're already at 45 today. So odd's favor, if the volume keeps up, you're going to get a confirmed A to B equal CD to the downside. And John C, I think that's really the better piece of information for you than where support is at, only because I'm struggling to find some really good support levels for you. Because if you do get this confirmed A to B equal CD and you'll get that if we get a close below the B point. That's a trading day of December 1st. That low was 231.90. So we close below that. We'll have an A to B equal CD. And what you'll be looking for is a bullish reversal candle. The price projection is somewhere around 225 and change out there. That's not as important as what you're looking for next. Because until you get a bullish reversal candle, odd's favor, the price is you're going to continue to move lower out there. So with regard to Tesla, what you'd be looking for, if you're looking to enter a long trade here as you want to go ahead and wait for the Gartley buy pattern to form, the buy the D point pattern. What you got when I take a look at Tesla, I hope that provided with the information that you were looking for out there. And thanks for struggling with the charts. Let's go take a look at Adobe for Dan. Dan is looking for about a $40 to $50 move to the downside. If I read that correctly, I hope that I did Dan. And so he's looking for some type of signal to say when that's going to get started. Turns out that if you do get a bearish reversal candle today and at the moment you've got a bearish ash candle, we don't know what it will look like at 4 p.m. That would be your first sign that, okay, maybe we've got a top that is starting. What do you mean maybe we've got a top, Stevo? You said that would be a top. I did say that would be a top. What we're taking a look at here, though, is that price is, okay, Jacob for the chart issue. So when we go to break in about three minutes, I'll take a look at that. And maybe just stay with me here. This is Jacob. We're trying to solve this problem. My screen rate would have it. But let me just finish taking a look at Adobe here. Thank you, Jacob, for topping in on that. So now we take a look at the reason, the first issue that you've got here, Dan, is right now where Adobe, well, I believe where Adobe is printing out at. Let me just look at my other charts, make sure that I have much of a delay here, ADPE. And that is that it's trading right now. It's found support at the top of its daily profile. So that's a key level of support to be watching. That's at the 622.46 level, where it's 622.63 right now. So if price closes below that, then that's going to be an indication to you that, okay, this has started with regard to moving to the downside, because we'd have price below the top of a profile, resistance level, and then we'd have price below its offset and change line. It tells us lost momentum. But the deal is that where support is is between 608 and 612.35. Now, we can see that that level failed to hold last week. So maybe it's not really a great support level. So your $40 to $50 move here, if you're at about 625 right now and it gets you to 575, what we can share with you is 583.36 is the daily TD-9 count breakout area. On a weekly basis, we are not getting any kind of a signal of a top. We do have a road's momentum indicator pattern that's been triggered. It's been triggered for quite a while out there. What's been missing from it is a bearish reversal candle. That's what's needed to confirm that type of pattern. We take a look at a monthly timeframe chart the monthly timeframe chart for Adobe says over time this wants to trade up to 678.78. Why do you say that, Stevo? I say that because last month it totally negated its TD-9 count top immediately. That tells us about a strong upward momentum move and that strong upward momentum move. We take a look at the weekly chart too. That says this really wants to get up to 678. I'd say odds favorite that this wants to make a $50 move to the upside more so than it wants to make a $50 move to the downside. But nonetheless, you may a topping signal today. So watch that. Watch whether price closes back inside that profile. And if it does, it may get back towards that 608. It may even get to the 583 level. But in order for that to happen, you can see right now at 608.23 or I'm going to share with you what's happening at 608.23 is the weekly oscillator and change line. Price is most certainly going to have to get below that to entertain a move of $50 to the downside. But whenever that gets done out here, whenever, you know, and who knows when that might be because maybe it's really not going to move much lower. I'd say Adobe is looking like it has more of a $50 move to the upside than it does to the downside out there. Real quickly here before we go to break, let me see if Adobe has a seasonal set of data out here. A-B-B-E to see where we're at in hits. There we go. We've got Adobe. Let's take a look how many years we've got. We've got 37 more, 37 years out here. And typically Adobe forms a bottom like tomorrow moves higher into the end of the year. Steve Rhodes with TFNN, we'll be right back. Hopefully we'll solve my monitor problem. 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Back folks, I think we're up and running. Got that screen issue resolved. That was a black background screens on them. I'm going to switch over to the white ones right now. You should see the Adobe charts out there. So it should be a little bit clearer for everybody as they were following along with me as we were taking a look at Adobe. So now you can take a look at those. You can snap, shot it and put it in your basket if you want out there. So let's move on. So thank you, Jacob, for solving that problem out there and thanks everybody for putting up with this. Sorry that we had the issue, but glad that we resolved it. So let's go take our next request out. There may be others that have come in, but I kind of have been multitasking, but there is a request to take the LightSuite crude. And I'd ask the question and I don't know if it was answered because I was too busy looking at other things, which I was really asking John who was asking about it if he traded the futures or not. And I don't think I have the response out. But we're taking LightSuite crude. The reason is because it would then be dependent upon what contracts we'd be looking at because we may have different signals. So we'll even take a look at that. But here's a January contract for LightSuite crude. And today we will get a bar number nine of a TD9 count if and only if price closed below the close of bar number five. And that's not where we're at right now. The close of bar number five is 69.34. If price closed above 69.34, this pattern goes away and what we would then need is a bullish reversal candle to confirm a buy the D point pattern. So where price closes today is going to be very key, John, as to what the actual patterns are out here. And that's on the daily timeframe. And if I switch panels, now that I can freely switch panels out there and know that we're going to see good data, good charts out there, let's switch these panels. Let's go take a look at this set of panels. Now this are, these are, I should say this are, how about that? That's a beautiful way to communicate. But these are the four charts that make up the holdings with inside USO, which is a totally set of different holdings if we were to take a UCO out there. So if we take an UCO is when I really started investigating that over the weekend, that is a real booger to try to figure out what it's doing because of so many other ETFs or indices that it has inside it. This is much clearer, but you still have to take a look at what's going on with the four different equity, not equity, but let's recruit future contracts. So January, we've already taken a look at. In the case of February, which I think is the primary dominant contract inside of USO, you'd have to go take a look at that. It's also got a TD9 account bottom, but today it's going to need to close below 69.59. We're at 69.81 right now. If you close them up 69.51, this whole pattern goes away, but it will still maintain the road's metamindicator signal. And if this were to form a bullish reversal candle, that would confirm a bottom pattern. Particularly the March 2024 contract, we're in wave number seven right now. That just simply needs a higher low. That could take place tomorrow and that would confirm a bottom. It's got a TD9 account that will confirm if price closes the day below bar number five. That's 69.81. We're well above that as we speak right now. June 2024 contract, same thing. TD9 account, but price must close the day above or below. Really? It must close below 70.20. We're at 70.68 on that contract right now. So we're 70.68 there. March, we're at 71.16. Oh, I'll take that back. We're at 70.68. We're at 70.13 on March. We're at 69.88 in February. We're at 69.63 in January out there. So with regard to lights, we recruited what it's doing. I think you and I have to wait to figure out what it's doing here. We'll get that information released to us today and then we'll have a much better idea. So if it's okay with you and please remind me, let's come back and take a look at this tomorrow out there. If I switch back to the other chart just to take a look at what's going on from an intraday standpoint, and we'll do that here momentarily, we'll get back to the other charts out there. And now we take a look at, for example, a 30-minute timeframe chart. This negated a TD9 count top. I did that during the slide. Well, I did that a while ago. I did that at 10 o'clock this morning. So this is suggesting that lights we crude should rally further. Well, if that's the case, then these patterns that we just took a look at on the daily timeframe are not going to come to fruition. If we look at other timeframe charts, maybe you're going to get a TD9 count top on the 60-minute timeframe that takes place between 12 and 2. So maybe what Powell says does is going to impact lights we crude out there. But this suggests that top doesn't really form here for a couple of hours. Things look good on the 120-minute timeframe chart. When I say good, we're trading above profile. You're trading with inside profile. The rose meant to indicate your bottom on the four-hour timeframe chart. 70-04 is the key level. So everything is really in place here for lights we crude to form a bottom. But we really need to actually see a bit of a pullback today. Price to close at a lower level to then give us those bottoming patterns out there. Now, if we take a look at lights we crude and we take it as soon as I can find it. Give me a second here to find it. I know it's right up here, lights we crude. And we take a look at its seasonal timeframe. In the seasonal timeframe, we've got 32 years worth of data. What we know is that lights we crude typically forms a bottom, a first bottom right around December 10th. And in fact, it did that this year. It did that and it bounced. This formed a, on a daily basis, this formed a by the D point pattern. It did this with these three candle sessions, three River Morning Star. And what Price did was it ran right up into resistance. I read Oslater and Changeline. Now, the cool thing about that is that's following the seasonal pattern. And then the seasonal pattern says, well, it should then pull back and form another bottom right around December 20th. Well, is that the pattern? Now, if the TD9 counts don't form today, then I'd say, okay, we resort back to that. And we say, you know what? Maybe we're not looking for a bottom and lights we crude until we get towards the middle of another week or so out here. But let's do this. Let's let the market tell us what it's going to do. And then we'll come back. We take a look at that, whether that's, well, we'll do that tomorrow. So, John, I hope that that helped you out. That's not too much bumbling. We had a request from Thomas. And his question was, what's the worst case scenario for Goldilocks out there? And that's a gold and silver. But let's just answer that with regard to gold. I thought that I did that yesterday. We've got the gold charts up here. You can see with regard to gold, we were talking about TD9 counts. Bar number eight is going to form today. Well, it would require quite a rally to negate the signal. Tomorrow, we could get a confirmed TD9 count as long as gold closes below 2014-50. That's important because you could get this TD9 count right at its breakout level of 1979-30. So, the first answer to your question, what's, I'm not giving you the worst case right now. What I'm doing is giving to the play-by-play in the daily timeframe, because gold is signaling it could form a bottom. We need to see that pattern complete. It's a bit too early to say whether that's going to unfold or not. Now, even though the pattern completes, it can still fail. Or if the pattern doesn't complete and price starts getting below 1979, then at least on a daily basis, we step down to the next level of support. That would be in 1876-80. But here's what I'm really looking at to truly answer your question. And that's this. And I know we touched on this yesterday. If we take a look at the normal dance steps of any instrument out here, what we can see is that typically you get, especially in bull markets, that's where thinking gold may be in is a new bull market out there. You typically get pullbacks of two bars. It doesn't matter what timeframe. And here's the monthly timeframe. Well, it looks like December could be bar number one to the downside. And so that would then tell me that we would see some type of bottom. You're asking about worst case. I'm giving you from a timing standpoint that we would be in a two-month pullback. And that says we could or should see a bottom form in gold, a significant bottom in the January timeframe. But we got to take things one step at a time, Thomas. Right now, let's try to figure out what's going on in the daily timeframe. That larger thing comes to fruition when patterns fail and other support levels fail. Steve Roach with TFNN, we'll be right back. Educating investors. It's December, Tigers. That means festivities, decorating, spending time with friends and family, and the TFNN Tiger Dollar Holiday Sale. Don't miss your chance to receive a 20, 30, or even a 40% bonus when you purchase Tiger Dollars. Once you apply your Tiger Dollars to your account, you will be able to use them for any TFNN product purchase instead of your credit card. Visit the front page of TFNN.com today to purchase your Tiger Dollars. Don't miss your chance to receive up to a 40% bonus on your Tiger Dollar purchase this holiday season. Every Tiger who purchases Tiger Dollars will also receive a complimentary TFNN Tiger Mug with their purchase. Act fast, this sale ends December 17. Happy holiday, Tigers. TFNN, educating investors. You might think that if you want to be successful at trading in the stock market, you're going to need a crystal ball. After all, it's impossible to predict the future, right? Like any endeavor in life, before you decide it's impossible, get some advice from the experts. You might find that it's not so impossible after all. For daily market overviews that give you direction on the key indices, selective stocks, and commodities, subscribe to the opening call newsletter at TFNN.com. The opening call newsletter is written by Basil Chapman, creator of the trading methodology known as the Chapman Wave. The Chapman Wave up-down sequence gives you an edge in identifying price turns, finding the peaks and valleys in stock prices. Get the opening call newsletter by Basil Chapman in your inbox every day. First-time subscribers also get a 30-day money-back guarantee. If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up. Welcome Educating Investors. 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 on www.TFNN.com Educating Investors. We'll close out the show looking at Microsoft and ARM for Nancy and for Duncan Steve. So Nancy, with regard to Microsoft on a five-minute basis, we've got a wave number seven top. That's letter G. Price pulled back and tested support. That support level held. That was the bottom of its profile. There's a new profile that is formed and you just have a consolidation with inside of that. We're looking at real granular short-term. 37394 support. 38937472 are your resistance levels. If price closed above that, it should rally. Otherwise, it's just maybe consolidating with inside that level. That's what's going on in the very short-term timeframe. Particularly, what's going on in a daily timeframe with regard to Microsoft. It's back below the top of its profile. So it never closed above it. It traded above it. So that says watch that level. That level being 37475 If price unable to close above that, we could have a good compression and consolidation with price pulling back to test the bottom of its profile between 365 16 and 36676 out there. That's really what I see when I take a look at Microsoft. I hope that that helps you out. If we take a look at the next which is ARM holdings out here not a lot of data. So that not a lot of data makes it a little bit difficult to analyze what's going on. But we can say at this stage here is there's a roadmap to indicator signal no bearish reversal candle price if it closed below its oscillator and change line. That's currently at 6395 Stevo. If price closed below that we could see a move back to profile support between 5462 and 5576. But first it's got to get below these swing points out here. And that's the one from December the 5th. And that would be at 6037 out there. Volume on that candle session 6.7 million shares today so far. It's done 3 million shares. So it's pulling back with volume. So I'd watch that low out there is at 6037. Folks, thanks much for being here. Stay tuned. We've got great programming lined up for you. I'll be back with you on terrific Thursday. Please have a wonderful Wednesday and be safe out there.