 up today. The following is a presentation of TFNN. The Trader's Edge with Steve Rhodes, an 877-927-6648, or internationally at 727-873-7618. The Trader's Edge. Now, Steve Rhodes. Good afternoon, folks. Welcome to the June 25th, a thirsty Thursday edition of today's Trader's Edge show. I'm your host, Steve B. 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. Hey, let's make sure we have an extraordinary one of the easiest way to do that. Well, it's to always remember that life is happening for us, not to us. That's right. We do not 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, we get to go check on the circumstance of these markets. We get to go figure out what those bulls and bears, what those buyers and sellers are communicating to you and I just passed one o'clock in the afternoon. I want you to know that I'm absolutely grateful for your presence here, but much, much more important than that. During this next 60 minutes, I'm here to serve you. So feel free to pick up that phone. You can dial on in at 877-927-6648. If you can't dial in, we've got you covered there too. You can just go ahead and send me an email, steve at tfnn.com. Inside the subject heading, please put radio show question and please send those early. Just simply these ISPs out there. You know, you can send it now and I might not get it for half an hour out there. And then, of course, on our side, our Tiger's Den. Well, any ping we'll do and any messages inside the YouTube channel, our guys in the production department will pick that up and forward those to me. So let's go ahead and get this show started already on terrific Thursday. Of course, this is Tiger Financial News Network. I'm Steve Rhodes. Welcome to Les show right now. We've got the Dow, the S&P, the Nasdaq, the Russell all trained to the upside 46, 5, 13 and 5 points respectively. So not a whole lot of movement, although there's been a lot of movement from top to bottom out here. But before we really break it, let's take a look. What else do we have going on? You've got gold down four bucks, silver's up over 1% or 20 cents out here, lights we crude up nearly 2%, trade down to 38, 68, natural gas, just a booger out there, just continuing to head lower. A 30 year treasury up about a half a point, 15, 30 seconds, trade down to 178 and 11, 30 seconds out there. Lead the charge to the upside. You've got fact set research up 44 bucks, Spotify 20, Shopify is up 15 and Koopa, Koopa software up 15, Buccaroony. So the downside booking holdings up 26 bucks, you need queer, man, whatever that is, 1286 top build corp is down 11 and Chipotle is off 11 bucks as well. So where do we want to begin? Where would you like to begin? I'll tell you where you're going to begin. We're going to begin by just by taking a tour back in time. Actually, we're going to just take a, well, let's do this. Let's figure out where are we at inside the Dow. I get cards and emails and letters all the time from folks like you and some of them are a bit bitter out there. But many of them are asking, hey, Steve, are we still going to go back and test and take out those March lows out here? Well, this chart here is a correlation of the 1929 bottom matched up with the March bottom this year. So all I've done, the top chart is the 1929 chart. Well, it's the historical dark chart. Mine, this one here takes me back, I think, to 1865 or something like that, 1896. Let's get the right year out here. In any event, all I've done is I've then taken our current Dow chart and I have, well, I've slid forward the 1929 chart to match up with the bottom in March. We can see that both those bottoms inside the Dow roads momentum indicator signal out here. So both of them form the same type of bottom out here. You can see where price is trading right now. And one of the things that you'll notice is on the 1929 correlation, it did create a TD9 count out there. And that TD9 count identified a key level of support, which back then in the 19, so we're still in probably 1930 or probably still 1929 out here, close to 1930. In any event, 246.30 was a real key level. Now, what you'll also notice, or what I'd like you to notice out here is that the Dow, this time around, has also done the same thing, created a nice little TD9 count with support at 24781. Now, I want you to write down on your pad of paper 24781 because that's going to be really important out here. Now, this is where we're at in the pattern. Let's go back and take a look at what does the 1929 chart actually look like? What can we learn from the past? There's many people that hate history out there. In fact, all you have to almost have to do is turn on the news and see how much people hate history or they like to make up new history out there. In any event, with regard to pattern recognition, we don't want to make up anything. We want the numbers and the charts to tell us what to do. You see the patterns. This is all about patterns, folks. Why do these patterns work? Because you have a pattern and the person next to you has a pattern and the person across the street from you has a pattern and the guy you're looking at on the screen out here, well, you're not really looking at me. I've got a pattern. You probably wake up about the same time nearly every morning and you've got your different rituals that you go through. Those are patterns. These markets have patterns. These patterns and those rituals, people have been doing them forever since the beginning of time. Well, these patterns that you and I look at each day between one and two, they have been working since the beginning of time from a chart standpoint out here. So now that we can take a look at, now you're back here in 1929, the actual bottom taking place on November the 14th with that Roadswindd Dominicator signal, that little bull sash out here. It was a Roadswindd Dominicator top, by the way, that identified the top before prices went lower for a couple of years out here. But here's the important thing. You can see from 1929, there were several TD9 count patterns that formed on the counter trend rally, much like we have now. How did we know then that the markets were getting ready to head lower? It's really simple. This is the way that it works no matter what timeframe you trade out there. You always want to know where support and resistance is. You want to be able to identify significant support. Because one of the things I can promise you is that when you get a topping pattern out there, all that sellers really get a chance to do is push back to try to bust out support. And you know what happens when you can't bust them to the downside. I didn't make this up. I just have to pay the 10 cent royalty. It busts them to the upside. But closing below a TD9 breakdown level will be our indication just as it was back on April 28, 1930, that the markets are getting ready to head lower. So now let's take that and let's figure out exactly again where are we at inside the Dow today. So let's try to get rid of this trend. There's so much data out here. I think I'm just going to delete it because otherwise it will just simply, it's a hog putting all of that. It had all the Chapman wave cuts and everything. And then even if we just pull over the Dow right now, how do you like this review back in history? It is important, boy, important day on Thursday, Thursday. And if we do take a look at the Dow right now, you can see that first, maybe that's the only, it's possible, that's the only TD9 count inside the daily time frame here for the Dow. And so the number again that you wrote down on your pad of paper was 24, 781, not because Stevie said so, but because the charts told you to write that down. And the charts, you can see that the first move down, the first time down, which was about a half a dozen days ago. Let me get my cursor out here, crossair. So it was on the trading session of June 15th, price pushed down and it didn't get right down to 24, 781, but price already tried to bust out support, hasn't done that. Right now we're trading between support resistance in the Dow. Support 24, 781, you knew that resistance. Stevie's squiggly green line, 26, 231, kind of the sideways neutralish choppy market out there. Steve Rhodes with TFNN. That was your moment in history on the charts. 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All now toll free at 1-877-927-6648. Internationally at 727-873-7618. Folks so we've got a couple of questions. Let's get to those and we can always go back to the general markets out there and get a feel for what's going on. The first question here actually inside The Tiger's Den from Jimmy Dean Sausage out here and Jimmy wants to take a look at the XLF. Now if we take a look at the XLF there's really a couple of different patterns that were out here. There's a Gartley sell and there was a Gartley buy. The Gartley buy took place though. Let me get my cursor out here make it a little bit easier. The Gartley buy took place on May the 14th it was an A to B equal CD to the downside and that led to the A to B equal CD to the upside. The old Gartley sell pattern. So right now prices below its daily profile so that's not very bullish out here. I see you're Jimmy you're looking to take a some positions in some banks out here. Well you certainly want to get the sector correct and the sector right now is saying no no no no no no no not just yet out here. In fact I would I would share with you that over the course of the next at least 12 months or so I'm not trying to time this to the to the top tick or anything like that out here but you do have a Gartley sell. I would say stay as far away from the banks as you humanly possibly can. Did that was I clear on that. I probably I wasn't let me state this again stay as far away as you can from the banks. Things are going to get just lousy around the globe folks and really if you want to if you really want to go understand the history of markets out there go take a look at all of the contagions that have led to really nasty markets out here. I mean really nasty markets out here. What's the one thing if you own the bank. Let's just assume you own the bank. What's the one thing that you worry the most about. There's really two things right. What are the two things that you would worry the most about. The first would be a bank run. Doesn't have to really start for any reason just simply if you got more people lined up than cash and you have in your bank. Because what do banks do. They loan long term but what they receive is short term deposits basically right. So that would be the first thing would be a bank run out there. What's the second thing you're most worried about. Yeah that those loans that you have out there you start getting defaults upon. And look I'm not saying it starts today folks. And I'm saying do not listen to the boob tube and those folks that are on there. I guarantee you they don't go take a look at history. But go take a look at history. Go take a look at history out there. Be careful. Now the one thing you don't want to have is exposure to international banks out here. But let's face it all these banks are connected right now. Look the bankers were told I'm not telling you don't trust banks. The bankers are telling you don't trust banks. Isn't that a beautiful thing. If you go back and take a look at that repo crisis that is what that was all about. That was banks saying I don't trust you. I don't even trust you overnight. That's really what they were saying. I don't trust you overnight for you to go ahead and give me debt securities out here. Because I'm afraid that that come tomorrow when we do the swap back. You're not actually going to have the cash. So it's not Stevo that's telling you don't trust banks. It is the banks that have told you don't trust banks. But with regard to is there a bottom out here like it's moving sideways as well. But price is below support. It's below Stevie's green line out here at twenty four fifteen. And I would rather just let you have the bigger message. You can disagree with me. That's that's totally cool. That's totally fine. But then what I do is I'd probably challenge you to a history debate or something along those lines out there. But this is my perspective out there. I don't see a trade in the XL. I mean I heard the folks on the boob tube talking about how was the banking stocks that were lifting the markets higher out there. As if they really really really knew. Give me a break. Okay. All right. So sorry about that. So let's go to our next question out there. And sorry Johnny to add all that stuff in there but man I I do want to help protect your assets. You know what I mean. With the emphasis on the first syllable not the second syllable out there. All right so the next question that came in this one coming in from Sylvia and Sylvia wants to take a look at ticker symbol CLDR. So hope you're getting I am getting some a lot of sun out there Sylvia. I'm pretty anchored down. I mean I spent my time between the intercostal and the beach and many events. So I hope you're so look to enter CLDR waited as it went above the line the line. I'm not sure what's on head of rejection to confirm above the line that fell below the line. Boy that's a lot of lines out there. Anything I'm not perceiving. So let's just go take a look at this here. Let's look at the daily time frame again ticker symbol. Well first let's look at the multiple time frames that is a clodera ink and prices above the top of its profile above the top of its daily weekly and monthly profile so everything is above resistance levels out here but we need to see what type of patterns are actually in play here right now so it's it's based upon the profile charts things are bullish out here so we can understand why Sylvia wants to take a long trade now what we can also see here is you can see how this formed a bottom. It's not all markets will form bottoms and tops like this but when you do see these bottoms and tops you pay attention. Now in the case of CLDR we can see that it formed its bottom back in March with a road momentum indicator signals on March 20th was that bull sash candle. Then we have our profiles and Stevie's red line out here and so we can see that price was able to take out resistance was able to take out the resistance the top of its profiles out there and now prices pretty much been dancing along Stevie's red and green line out here but we did get a road momentum indicator pattern out here just like in the bottom just in reverse that was on June the 20 20 June 20th out here and what sellers so this is the importance of really truly understanding support and resistance out here you get a top you get a bottom bottom say hey I don't know if you're going to be able to push out get get above resistance or not but if you do that's great and in the case of tops I don't know if you're going to be able to get below support but I want to know where support is well in the case of called deer out here Sylvia the first level of support off that road momentum indicator top was the top of its daily profile bear a structured profile but once price closed above it nothing more bullish than a failed bearish pattern out here so all price did yesterday was come back in test old resistance now new support that's your $11.85 and prices above Stevie's green line now it's got a confirmed topping signal and what I don't know Sylvia is whether or not is whether or not price is going to be able to take that level out if you do get a close above the high from June the 19th out there then the daily timeframe chart is saying you know full steam ahead but do you're kind of caught in this no man zone out here the better buy at this stage of the game the better buy would be $11 and a penny out there and that's its actual breakout level from a TD9 count pattern that it formed let me just switch this over here real quickly to the weekly timeframe forget about Stevie's green or red line because this is now in the daily timeframe just checking to see if there's any kind of a topping or bottoming signal you'll notice it on the weekly base as well back in March it was a nice TD9 count pattern as well and the price is simply coming back to its breakout level 563 on the weekly timeframe I don't have anything that is bearish in fact quite frankly it's a bullish pattern out here for the weekly so yesterday's move to that to the top of that daily profile may have been your entry point out there monthly timeframe real quickly what do I have out here I don't have anything and hasn't traded long enough Sylvia on a monthly timeframe for me to get much of a read out here so yesterday may have been the nut but we won't know that because of the topping signal it's out there so just as all depends upon your risk reward right now I'd say your entry point is around 1106 to 1185 on a pullback we'll be right back back in the day I joined the hotel California in 2006 and like many of you was drawn in by as well as whatever you think about you bring about whatever you focus on grows you see I believe that everything in life happens for us not to us and Tom ignited the fire within me to want to learn how to master the markets so how did I go from knowing nothing about technical analysis to becoming the number one market timer for the S&P 500 in 2018 and the number two market timer in 2019 simply put I hired coaches with a proven track record which led me to a whole new set of tools that I created to interpret the message of buyers and sellers I would love the opportunity to teach you this award-winning set of tools and help you improve your market timing you can test drive my newsletter service mastering probabilities for the next 30 days with no risk to you plus you'll gain access to archive workshops that will take you step by step through my system sign up today by going to the home page of tfn.com and selecting mastering probability in the newsletter tab you're a trader in the market looking to find the path that leads to maximizing profits while decreasing risk then now is a great time to try out Dave White's daily trading service the path 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here's the here's a yearly chart of a Deutsche Bank out here you know at one point in time so this is back in January 2007 you had Deutsche Bank German's primary bank out there at 140 you're at $9.51 right now I know if I put the daily time frame chart out here you know somebody might think oh man look at this this thing is on a man nice bottom and it's moving higher out here how many banks do you think have some type of liability issues some type of counterparty risk inside of a Deutsche Bank out there so again you know it's a this is this is I'm not trying to time this one with regard to the banks out there I'm just saying of all the sectors to stay away from longer term while we're going through all of this you know blank from Shinola out there and I'm from Detroit so I can say that I even got a watch that says Shinola on it out there maybe you do too um you know just not the I mean from a trading standpoint you know okay great but man man man man man man okay so let's let's go to our next questions out here John and Sarah Soda John wants to take a look at I can always the ticker symbol a little screamer out here a trade out at 30 23 it's been a heck of a move it's been a 100 move over the past three trading sessions out here John I hope you're in it but what is showing for I and O and if time j.o. out here okay so let's take a look at the I and O it's above it's daily it's weekly it's a monthly chart looks like having one of the best weeks ever clearly curing something out here because used to not trade that much but how are you going to trade this it's above all kinds of resistance out here I'd say uh don't trade it right now don't jump in on it I mean you can if you want as far as patterns out here I don't have a topping confirmed topping pattern my price is moving higher doing less route of energy so if there were a bearish reversal candle to form out here John that would be a signal a price one to move lower we can see a number of TD nine count patterns out here that have worked bar number nine back on March the 10th bar number eight on May the 21st out here this most recent TD nine count didn't even blink just kept moving so strong momentum behind this you didn't need me to tell you that and you're only going to be in bar number four so you know you could have at least another five trading days with this continue to move higher at least form those other bars out here that'd be pretty easy easy peasy right now to get a TD nine count pattern going that's in the daily time frame out here on the weekly time frame we take a look at the weekly I don't have any topping signal other than just price moving higher doing less route of energy no reason to really go to the monthly time frame so John I you know your question is what's it showing showing a heck of a breakout out here 100% in three days 16 to 30 bucks basically or yeah 15 to 30 bucks out here I don't know how you trade these things I had decided I'm not this is something that I'm not good at there's many things I'm not good at one of them would be you know jump in at your own risk and have a trailing stop or something along those lines out there but 100% move over a couple days again I don't know what they cured out here but even the volumes not telling me that they cured cancer which how many people year do you know by just out curious just curious how many people a year died from cancer anybody know that out there just in the US how many can give me the number worldwide I don't know what it is how many people died from this coronavirus so far in the US like 120,000 or something 110 120,000 I'm pretty sure that I'm going to guess I'm going to get somebody will look it up and and for me on the internet there's probably something that shows but I'm going to guess there's that there's I don't know 10 times 20 times the number we should probably on our news channel don't you think we should 600,000 that's all really Jay well okay I think 600,000 that's a lot don't you think we should be instead of just talking about coronavirus all the time we should say how many people have died this year from so far through of cancer out there well should we really focus on our biggest problems and I'm sorry I'll get off the soapbox here let's go oh John had asked about the jo that is the ETF for coffee so let's just go look at the coffee see what the coffee is doing out here so give me a moment and one second to do that let's pull up the commodities can't catch cancer from someone well maybe maybe not in any event let's go take a look at coffee out here if we take a look at coffee formed a nice little roads momentum indicator bottom did that a couple of days ago in fact we've had two confirmations of that John out here you've got bullish engulfing candle and a bull sash candle you can see a nice bullish structured profile out here so I would be long j o unless you saw price close below the coffee contract to two closes below 95 23 out here but prices right now it's got a nice bottoming pattern prices consolidating between support and resistance that being its market profiles out there so hope that helps out we did get to win for you let's go to our caller let's go to gary in new buffalo michigan gary thanks for calling thanks for holding how are you hey my fellow michigander how are you doing doing well thank thanks for asking okay great hey I was looking at um I'm still in ag quite a bit and um I was um looking to see what your thoughts were on you know the um I know silvers um had some issues and maybe you could look at silver just in general um and you've uh talked about that uh sure sure sure absolutely so so let's go take a look at silver first here give me a second to get back to silver and really all of its future contracts out here so if we take a look at silver we're still trading the uh July contract today's volume about 72 000 shares so far uh we'll be rolling over into the september here in a couple of weeks it looks like silver's just consolidating out here right now gary and it's consolidating in between its daily profile levels the bottom of which is 1736 which has been tested a couple times and it has held as well as the top of its profile which is 1824 so a real nice range out here 1736 to 1824 we're in the middle of the range right now um if price can close above the 1771 level pretty good chance that price makes a run for the 1824 area so that's what I see when we take a look at silver you can still take a look at the september contract really doing the same thing the december contract doing the same thing the march contract in 2021 doing the same thing which is consolidating and trading in between support and resistance out here so that's what we see when we take a look at that any questions about silver okay good perfect okay so now let's go let's go take a look at ag and let's do this a couple of different ways let's understand where this is trading in relationship to its profiles out here it's three different profiles right now price is trading in between the daily profile that formed a couple of days ago it's bullish in structure so what you don't really want to see or if you did see two clothes below 857 that's telling you you've got lower price to go now the question would be okay where's the lower price to go from a profile standpoint my eyes go right to the weekly time frame and that would be the center line that's where both buyers and sellers are present in between its weekly profile that's a wide range because that's between 478 and 1029 so the answer that question if there was a close below 857 you'd be looking at 784 and a close below 784 then you'd be looking at about 478 to 609 area out here but we don't know whether it's going to be able to break through that it's one just if it does that's that's what the signal would be your resistance out here is 977 I see we're about to go to a hard breakout here so Gary can you hold on through that sure great thanks perfect okay so we'll be back with Gary we're going to take a look at AG is the ticker symbol of course folks I'm happy to take a look at something that you would like as well 877-927-6648 we'll be right back many of our new listeners have heard about the tiger's den the tiger's den is a lively community where professional traders and investors can meet exchange ideas and information in a comfortable moderated atmosphere hear all of the tfnn shows plus see all the charts as they happen live and have access to archives of all 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 rather 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 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that's tfnn.com and hit watch tiger tv for the latest market information so first majestic silver is what we're looking at with gary in michigan and so gary i i pulled over my other charts was looking at my other charts out here to look for signals and on the daily time frame i don't have a topping pattern for say what we do have so i mean it's a so first majestic on its move to the upside ran out of gas where it should have so you would ask well where should it have done that well if we take a look at the td9 count breakdown level 1088 that is exactly where it should have stopped and that's in fact what it did out here back on june 2nd you had a little bearish engulfing candle on june 3rd again no pattern other than just pulling back to a breakdown level now the reason why i bring that up is because uh the when we were looking at the profile charts i said hey look if you see a close below 857 certainly two closes below them the bottom of its bull structured profile out there price should pull back and we went to the weekly profile level well here we've got the daily level that we know has been tested rejected once before so 731 would be the price objective to the downside and i think more likely than not that's what you're going to see now i won't know that until you see a close below 857 but the reason that i said that was because i also threw up the weekly chart so now when i see the weekly chart out here it makes all kinds of sense to me what do you mean all kinds of sense hey gary don't you like i can talk to you but really i'm just talking to myself well i i know that people got to shake their head just to be quiet and just listen to you because you know best no no no but here's what this did so ag when it made its tie out here back in 2020 in january uh was with the roads momentum indicator signal cool moves lower and it forms a bottom on bar number nine of a td9 count beautiful thing what that did was that set up the 1088 as well so we had 1088 on the daily 1088 on the weekly and if we take a look at what was taking place uh just a couple of weeks ago now as you had that bar number nine right below just below that breakdown level and what that suggests to you and i is that price is going to continue to move lower out here uh you may see a bounce up into the top of this profile 977 but the weekly signals are very clear the daily signals will be more clear based upon the battleground and that battleground again just to you know is 857 on the downside and going to be 977 on the top side in one last question because you mentioned in the newsletter uh that uh silverhead the hour had hit uh confirmed a rose um uh indicator uh top and how does that fit into all that too sure so silver has pretty much been consolidating ever since it has done that so let's pull over the let's pull over the silver chart and here's that rose momentum indicator top so much like first majestic silver did on the weekly basis when we're looking at that it was just a clear pattern and a clear top out here so here's the bearish engulfing candle that confirmed that pattern and now we can see that silver's just been trading consolidating with inside support and resistance silver like first majestic also has a bullish structured profile right now so in the case of silver two clothes below $17 and 36 cents uh would then confirm that silver's going to go ahead and pull back or should pull back to test support or the breakout level which would be 1484 we don't have that message just now so it's just consolidating between support and resistance great that's a number to plug in the 1736 yeah you'd be watching that too you know along with the first majestic chart where price is trading and and the numbers will tell you you at least now know with certainty um in the case of first majestic that it should be strong support between 857 and 877 got it okay got it thank you so much oh you bet you bet good to talk to you that was gary in michigan my home state uh so uh let's go to our next question out here uh coming in by email this one coming in from michael k and in oh lost in Niagara Falls what a great place to be lost though i mean it might be pretty nice right now june june 25th Niagara Falls at michael and don't get a uh custard of course i guess you gave they sell custard around here now but i remember as a kid go to Niagara Falls and uh and i get in uh getting custard out there hey i'm kind of a uh i have a sweet tooth not a salt tooth out there but that gsx is the ticker symbol so let's just get to it already out here see what we're looking at is that black is that uh uh uh no that's gsx tishudo ink no idea what they are who they are i thought that was uh gsx i thought that was uh laxo smith in any event out here price right now is trading uh in its daily bare structured profile so the level michael that you want to watch out here now this formed a couple of days ago it's going to be 5733 if you see this close below 5517 not 5516 i don't know below 55 bucks then you should see price maker way down to the bottom of that profile 4866 don't message you don't have that message yet price above the weekly prices the monthly set of profiles out there so let's go take a look at uh let me get over to my other charts out here uh let's go see if i've got any other messages for you and i probably should really read your question but you sent a link out there i can't open up the link just yet any chance you can provide an unbiased analysis of gsx without upsetting the chinese communist party okay that's a good one i mean they are tied right into my modem i'm sure of that so i don't know if i can pull that out but let's go take a look at it anyway so you got the profile information so that's helpful to you let me get back to the daily time frame i'll do we can see the weekly is not really generating anything of importance to us um what do i have i don't even though there's a td9 count pattern it's not one that i consider to be a valid topping signal because the high was made on bar number six still doesn't mean it won't top out there it's just not the way that stevie uses the pattern out here so right now with regard to gsx out here michael i'd be watching i said 50 remember i said if there was a close below 55 bucks well now we're going to change that because the close would have to be below stevie's green line so you and i now know where that is at 54 17 that is unbiased that's just a numerical number out here and as long as price stays above that then it is either bullish to neutral at this stage here will go to neutral because price is trading below the bot on the top of the bear structure profile out there but if it can close above that there's no topping pattern or uh no there's no topping pattern and therefore price well i mean there is a sell the d-point let's go take a look at that or it looks like it should be a sell the d-point here's your a to b equal cd pattern out here and yeah so it completed a 1 to 1.272 a to b equal cd with a bearish engulfing candle out here so it's got the topping signals you've got your bear structured profile now it's time for you to let the market this prove itself to you with regard to what it wants to do out there uh again 54 17 is the key number to be watching a close below that and you're looking at move back to 48 67 or 39 29 now nobody should be mad with that that's just simply what buyers and sellers are communicating to you and i michael so thanks for writing in don't be lost in the agri falls especially uh you know if you're walking near the guardrails uh where you could uh or make sure you've got a good barrel right i have a barrel of fun okay so uh now it's getting a little kooky in here isn't it must be the uh i don't know what it is uh but uh uh must be the sun hector and the fuel injector is always good to hear from hector thoughts on banks versus gold oh hector and his ears were perking so um so with regard to gold we've sort of well let's let's we'll cover gold here's let's see if i can get to this in the next 10 seconds out here and i probably can't um probably can't probably can't we come back from this break we'll look at goldy lines for hector and patty and the fuel injectors we'll be right back folks gets trading with extreme volatility and peaks and troughs everywhere regardless of what you're looking at in the markets this is a great time to see the type of analysis basil Chapman delivers for his subscribers every market day with the opening call newsletter basil has been analyzing markets providing his take for subscribers to his trading services since 1984 every morning basil publishes an update for his subscribers along with weekend and evening updates when warranted the opening call provides traders a daily market overview with regard to the direction of the key indices selective stocks and commodities along with specific recommendations including stops and targets you also gain 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is going to be the high from april the 14th out at the 1789 level now price above the top of its profile so it's above resistance so we really kind of have a neutral signal out here with regard to gold but it's just been in a consolidation out here nothing more nothing less always good to just simply see it as it is not worse than it is actually it's bad best to see it better than it is but with regard to gold it ain't any better than that so folks what are you going to watch for look the market today is just in a consolidation as well that consolidation pattern out here i can show you in a minute i just a minute to win it let me get to those opening range charts out here learn understand know the opening range let's pay attention to the nq today right now she or he is testing the top at opening range that's at the top of the u.s. opening range that number is at 10 o 22 if you see two closes above that on a 30 minute basis expect the markets to continue to rally going into the close otherwise we're just in a consolidation today between 10 o 22 and 98 93 folks have a terrific thursday be safe out there and i'll look forward to seeing you on fantastic fabulous fun day friday take care