 The following is a presentation of TFNN. The Trader's Edge with Steve Rhodes, toll free at 1-877-927-6648 or internationally at 727-873-7618. The Trader's Edge. Now, Steve Rhodes. Good afternoon, folks. Welcome to the December 18th, the wonderful Wednesday edition of today's Trader's Edge show. I'm your host, Steve V. 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's having a great day. Hey, let's make sure we have an extraordinary one. And of course, the easiest way to do that is to always remember that life is happening for us, not to us. That's right. We knew and I want to make that little two-by-four shift. Well, when we do, it'll mean that we can find the gift in every set of circumstances that life is going to toss at us. Not today, you and I. We're going to go check on the circumstance of these markets. We're going to go figure out what the bulls and the bears, what these buyers and sellers are communicating. Tell you what, I just passed one o'clock in the afternoon. I want you to know I'm absolutely grateful for your presence here, but much more important than that. During this next 60 minutes, this show is all about you. That's right. We'd love to hear from you. Take a look at whatever instrument it is you either own or looking to buy or looking to sell and give you some feedback, at least what the charts are communicating to you and I. So, give us a call at 877-927-6648. If you can't call in, you can always send me an email. Steve at tfnn.com. Send it early. And please put a radio show question in the subject heading. Of course, there are tigers down. Any and all pings will do. So, let's go ahead and get this show started on wonderful Wednesday. Of course, this is Tiger, Financial News Network. I'm Steve Rhodes. Welcome to less show right now. We've got a mixed bag of indices out here. The semis are off about a point and a half, so they're flat, but the training is down about 100 points. That's nearly one full percentage point. The flat market, really, the Dow is up 11. The S&P 2, the NASDAQ up 24 points. That's the leader percentage-wise to the upside. Sponbolo Tilnex has perked its head. It's up 13 pennies trading out of 1242. We've got a little bit of a rising bottoms pattern to be watching out there. So, we'll take a look at that. Rising bottoms in the face of price actually moving higher. So, we'll take a look at that. Gold's off a buck. Silver down four pennies. Lates we crude up 19 cents. Natural gas off four ticks. Four pennies out here. Lead the charge to the upside. It is Shopify up to three and a half percent. $13 in change. Tesla up 10. Sintas Corp up about 10. Netflix up eight to the downside. Alicose ink off 17 bucks. That's 13 and a half percent. FedEx, the big mover to the downside. Inside the transports, they're off 10 percent or $17. Lenox International, not to be confused with any Lenox. But Lenox International is down 15 bucks or 6 percent. So, plenty to look at. Of course, I want to look at what you want to look at. The first request coming in from Dave. I believe this is Dancing Dave out here. Dancing Dave wants to take a look at ticker symbol. B-L-D-R. Let's open this up here. This is Builder's first source ink out here. And Dave, he wants to do a little dancing, a little tap dancing out here. He's in this equity. He's in the green out here. But just curious where is support. And what are the indicators to show us? So, right now, if we take a look at this, Dave, daily, weekly, you are in between their profiles. Now, on the daily profile, it's a bare structured profile. Meaning, in the center line, it's 25-28 closer to the top of the box of 25-65. So, any significant close below 25-28, you're 25-18 right now. I don't know if 10 cents is significant enough. We'll call it 20 cents. Let's say 2508. You see a close there. And I just pulled that out of thin air. Maybe it's 2507. Maybe it's 2509. I'm just saying, when you close below the center of a box out there, bearish in structure, well, then you've got sellers at the top, sellers that have joined along at that center line. They should be able to push price down to support. That would be 2437. Now, I know here in your email, you say you show support at 2340. Well, 2394 will be the bottom of its new weekly profile that formed this week. So, there is a level of support on a monthly basis. Support being the top of its box. Well, it's all the way down at 15 buckaroonies out here. So, let's go see if there's any kind of topping patterns or what's going on on the Stevie's White background charts. And sure enough, you do have a roads momentum indicator signal. It has been confirmed. It was confirmed about five, six days ago out here that was December the 13th when the actual bearish reversal candle formed. That was your bear sash candle. Now, we took a look at those profiles. Whenever there is a topping pattern that confirms such as this one. I don't care if it's this one. I don't care if it's sell the D point. I don't care if it's a Chapman wave. I don't care what it is. What I do care about is when you do get the topping signal out there, the role of sellers that doesn't mean it's curtains, it's impossible to believe that it would be curtains at that stage. The curtains here are support. How can it be curtains? We must know where support is. So in this case here, you've got a topping pattern. You've got a bear structure daily profile. And this would say that price would be able to push its way or sellers should be able to push price down to 2437, the bottom of that box. Whether they do or not, I don't know. But if you did see a break of support there, well, that would be telling you that you've got a really confirmed daily sell signal with support having been broken. See if support doesn't get broken, at least for two days in a row out there, nothing more than just a normal retracement with a nice topping signal. Let us know that it was time to take a rest. But if price did close below the bottom of that profile, Dave, you're looking at $20.01 on the daily timeframe. Now the daily is not going to rule the weekly. So let's go take a look at the weekly. We know we've got a brand new box that formed out here. We know where resistance is at. It's at $26.07. That's the top of the profile as we take a look at the weekly timeframe chart. And we go all the way back down to last year's bottom, formed with the nice roads momentum indicator bottom. We just took a look at that on a daily basis, except for the top. But if we do start our wave count out here on the weekly timeframe chart, we're going to see the last week was wave number seven. That's assuming that this week we don't see price close above or close above a trade above last week's high. At this stage here, wave number seven, letter G on my chart, is just simply pushing price down to support. First level of support, really on any chart, of course on the daily, it didn't matter because price was already below it, is Stevie's green line out there. And it's probably like around 2506 or somewhere right in that general vicinity I could give you. We're not going to worry about a penny or two. But what is going on on the weekly basis is price is pushing its way down to support. We have the weekly profiles out there. So price closed below Stevie's green line. You've got 24.79 is the center of the profile of the weekly basis. And that looks like it's fairly even Stephen, so to speak, so no edge to bulls or bears out there. There would be an area of support and then 23.94. So you got a topping pattern on the daily. You've got a topping signal on the weekly. No levels of support have been broken thus far. If we take a quick peek here, this is ticker sum of BLDR is what I will do for you folks. If you go ahead and send me an email or give us a call at 8779276648, we'll bisect and dissect your instrument out here. In the case of Boulder Dash, we can see that when price was making its bottom on the monthly chart back in December of last year, it was doing it with a TD set up nine count pattern. Then we had a Bogo buy one, get one free. Well, if we take a look at where price was pushing down as it was making that TD set up nine count, it was right down there into support of the TD set up breakout level 1066. It held and then it has been a one way market ever since. But now, voila, where are we at? Well, where we're at is this month. Looks like we're going to get a TD set up nine count. Now, remember that nine count can identify the top on either bars eight, which so far is the high, bars nine, or the bar following nine as it did back last year. Look, Dave, dance and Dave, they're going to need to do some real good tap dancing here because you've got confirmed signals on the daily, looks like on the weekly, and now maybe even the monthly. Just keep your tops tight, tight, keep your stops tight. I'll figure it out. If you're not currently using the TAS Profile Scanner when looking at setting up your trading opportunities, then your arsenal is short a mighty weapon. The TAS Profile Scanner is a standalone piece of software that instantly filters over 2,500 global financial markets such as stocks, ETFs, commodity futures, and forex. Heated by Steve Dahl, TAS understands that in today's technological world, the use of top flight software applications and technical analysis expertise is essential to successful trading in today's market. 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You can still visit us at the same TFNN.com URL but when you do you'll see a new and improved homepage with a much simpler navigation whether you're watching Tiger TV live in high definition or just accessing your newsletter subscriptions. We even have new pricing in six months and yearly options. Check out the new TFNN.com now and experience all the upgrades. TFNN.com educating investors. Call now toll free at 1-877-927-6648 internationally at 727-873-7618. The high today so far 3246 so pretty darn close there and prices back down below the center of that profile. So you gots to be careful out here profile wise the bears could push us back or sellers could push us back down to 3148. Price below the bottom of its weekly profile so that's kind of a dangerous thing out there because you're below support and you're below support on the monthly time frame. Okay so we've got that. Let's go take a look at our other signals out here. Let's take a look at the daily time frame put up our white background Ninja trader chart out here. We can see that from the high the high I'm referring to was out on this daily time frame back on November the 6th. If we start doing our wave count to the downside we'll see that what Boat High was taking a look at I would surmise was wave number seven because sometimes these charts they will sing in the key of G the Stevie Wonder charts out there when they do well they're telling you they want a top or bottom well in this case here like we talked about in segment number one when you get a top or bottom signal I don't care what it is the first key is can it take out resistance well so far today the answer is no way nada zippo gots to be careful out here I'm not saying that it can't I'm saying that we didn't know if it would or wouldn't yesterday when it generated that bullish engulfing candle out there which was nice because it confirms that seventh wave move out there but then what price has done it's trading below Stevie's red line that's a 32 31 and it is trading well it's inside the profile out here so this is now what you're looking for is you're looking for a close above 32 54 just to be really square out there so just have to be careful I do have the bottoming signal in the daily time frame but now that bullish reversal was done or pattern has struggled to get through resistance and today was the first day and you got a doble a gi out there many two levels of resistance have held up on the weekly time frame you do have a confirmed roads we went to mindicator bottom price right now trading at support that is stevie's red line very close to it 31 48 so on the weekly time frame it's below the bottom of its profile that would be a support level if we could get there right now that is resistance 32 72 so it's kind of a it's not the best of conditions out here you'd love to see the weekly generating something it is generating a bullish signal that's for sure but you know you sure would love to see this trade back above that 30 close above 32 72 the monthly time frame chart out here I don't have any pattern other than to say that price did close is below its breakout area of 35 20 and this equity could easily move back to 23 bucks even Steven that would take us back into the October 2017 time frame where price had broken out to the upside so I say just keep your stops tight on this one I got it right the first time see if I get enough practice I will be able to not be so tongue tight out there your average true range on this is 88 cents so your stop should be at least 88 cents below you know where it's trading right now typically you'd will use some type of some type of Fibonacci expansion of the average true range out there at least that's what Stevie would recommend okie dokie we don't have any other requests in so give us a call 877-927-6648 or you can send me an email steve at tfn.com in the meantime let's go take a look at what's going on in the markets out here J no new market profiles for the daily weekly time frame for any of the equity futures contracts out here so they're all above their daily levels you've got the Russell above yesterday's high that's bullish the NQ above yesterday's high that's bullish we don't have that same pattern yet inside the ES and the Dow so things look okay there we take a look at the New York Stock Exchange the New York Stock Exchange I believe that what we're going to see is the advanced client oscillator get up towards or to the 150 level and then fail how long it's going to take to get up there I don't know but that's it's right now it's bullish you've got the spot volatility it explodes 50 day expenditure moving average that level by the way of the 50 day whoops let me go back here where it wasn't the 50 day is at 1387 1387 now I mentioned earlier that the spot volatility X was trading higher and when I'm saying trading higher I'm referring to the trading day of this on a closing basis December 16th today's the 18th so just two days ago and so what we have is a slight rising bottoms pattern and spot volatility along with a slight rising tops pattern inside the S&P 500 this is how highs get formed inside the marketplace we can take a look at a couple other instances on my chart up at the top is the S&P 500 down below is a spot volatility index now we need something to trigger it doesn't have to be a significant pullback but it can be out here you see the one that was not significant was back here in March of this year and the one that was more significant was the one in May the interesting thing is we know that in May we get initial pullback price typically then moves higher into July just as the S&P 500 did before it pulls back again and it sets its hook for the bottom so we know that seasonality prices are moving along that path of seasonality and that's where we start to see trouble potential trouble out here because you've got this little indicator that is suggesting the potential of the top I got the roads momentum indicator signals on daily and monthly time frames all over the place out there and we are coming into that initial small period of time that is an unfavorable seasonal cycle the problem is the longer term monthly charts out there and those charts are showing signs of potential problems out here and even those that and if I take a look at the weekly charts I'm not going to show you the monthly right now but as an example here's the weekly chart for the ESWINI we know that markets can form tops using that TD set up nine count well this is December this is going to be bar number nine bar number nine we know that a top can form either the high of this month or it could be the high of next month out there so maybe just the early part of January so you've got the weekly that has topping patterns the daily that has topping patterns what do you mean topping patterns we'll just take a look at the ESWINI as an example the ESWINI we've got price moving higher doing less relative energy that's why we've got these lines here that are being drawn today looks like that's going to be bar number nine of a TD set up nine count I don't know whether it's the daily that triggers things off or not but you've got topping signals and patterns you've got A to B equal CD patterns in the daily you got a plethora of potential topping signals as we come into a time period where the market typically begins to pull back not December 18th but January 5th which is I believe a weekend January 6th and in 2019 all of the top or bottom signals from a seasonal standpoint came in just a little bit early so we need to be on guard so to speak what else is it that we can take a look at out here well the usual calls we haven't gotten them yet our usual questions are gold deluxe and if we take a look at gold what's it doing not much just trading and consolidating in between the top of its daily profile these days which is 14 81 50 in the bottom which is 14 60 20 gold just simply has a set of declining highs lower highs lower lows and it will continue to be that way for some time to come 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 6 and 3 months timer digest also ranks me as the number one market timer for gold as well the fact is markets can be timed and I'll teach you the exact set of tools that I use that have transformed me into one of the best at what I do sign up for mastering probability today by clicking on the newsletter tab on the homepage of 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 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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 at dowhip seven s and p up to let's go to the other side of the coast to sarah soda and speak with ray ray thanks for calling thanks for holding how are you today i'm doing well american tankers tell me what you're doing how i can help you well the last couple years it's been a good stock to trade with a pretty big position on it i like the chart on on this stock i'm i'm eyeballing i think it's uh got a chance to run to six to eight dollars paid a dividend for the last 82 quarters and i know they're planning to increase the dividend substantially in the coming year what do you think well i think that so you've been building a position and i just tried to listen to you know to a caller figure out how i can best help them so you've been building a position as you say for about six months here so uh for me that says you've got a longer term view of the stock and therefore i went really right to the monthly chart so the larger time frame and back in september price was pushing lower doing less relative energy and then what it formed was a bullish engulfing candle and a key reversal key reversal is where the prior candle high and low is exceeded by the current candle and then you get a close in the opposite direction well you got that so you got two nice bullish candles confirming the road's momentum indicator bottom and this would say over time uh price is likely headed to where it last broke down on a monthly basis that is an 868 it's at 447 right now so that's the bigger picture which gave you that nice signal we take a look at the smaller pictures out here and look for some resistance areas well the resistance area the only one that's there and why price stop where it did today was because price got up to resistance that was on the weekly level that was the weekly profile and that was at the price level of 447 trading at 445 so yet ideally you'd like to see a close above this doesn't mean if it doesn't close above this that it's going to back up all the way down to the bottom of the box which is 335 but you are at a resistance level on the weekly basis it's also from a weekly standpoint moving higher doing less relative energy that form that began really today as well but that pattern isn't enough to suggest that you would sell it just says be careful now on the weekly basis the resistance level if it can get through the top of that profile would be 567 that's where it broke down on the weekly chart of the next breakdown area 567 out there if I look at the daily time frame and try to identify any kind of top or bottom today is a move above the top of its profile so that is a bullish I don't see anything out here to suggest well let me just do a quick wave count out here off of the prior low wave number six so you might be getting close to a area where price might begin to pull back maybe that's what the signal is on the weekly time frame but overall array this this looks good and especially from the you got volume off of the bottom on the monthly time frame so that's a beautiful thing I don't have any reason for you to for you to take this fish off the hook and put it back into the water I'd stay with it good good good that's what I like to hear thank you Merry Christmas to you and your family thanks so much for calling in that was Ray in Sarasota let's see if there's any other requests oh there are some requests they're inside the Tiger's Den John inside the Tiger's Den want to take a look at two different instruments EWZ I believe was one of them so let's go take a look at it that is the MSCI Brazil ETF out there EWZ so what we can see here is price is above the price is above its daily profile out here just doing that today John it's a profile that informed today bullish and structure the top of that box 4602 or 4609 so close above that would be nice price is now taken on the top of its weekly profile that's at 45.97 so if it can close above that on a weekly basis that's good on the monthly the top of the box 44.69 so you've got all kinds of nice patterns out there to suggest that or patterns not so much but resistance has failed to contain price that's a beautiful thing we take a look at Stevie's daily time frame chart out you're going to see a TD 9 count top that means you want to pay attention to the high from December the 14th if price is able to close above that high out there well then it's going to continue or should continue to move higher prices also trading above its breakdown level 45.49 so you know i'll give priority to breaking that the resistance area but watch the high from just a few days ago you want to see price be able to take that out to negate that TD 9 count top out there hasn't been negated just yet if we take a look at the weekly time frame for EWZ EWZ it looks like to me it's trading into resistance or close to it let's open up the chart and find out that would be at 46.52 now 46.52 John is where you can see it's not the actual top tick but we can see that green horizontal line coming across our weekly chart the last move up into that area did form a TD set up a 9 count but bar 7 was the high nonetheless resistance held so your resistance area you're trading at 46.07 is 46.52 you really want to see price be able to close above that but you know that you've got resistance there now you can understand now you can see why it was more than just the swing point from way back when back in December of last year so that's the weekly time frame just saying hey there is resistance ahead on the monthly basis for EWZ again that is the Brazil ETF out here what do we have i don't think i have much let's just go ahead and label this up with regard to yeah i don't really have much out here nothing bearish because price is trading above steve's green line which is 43.23 and it's green so on a monthly basis you have a rising price oscillator above zero so overall everything looks good you've got some resistance that is nearby and you've got that high from a few days ago that you want to see cleared out there let's go to the next one that you'd asked about which was i believe argentina but we'll see i a r i'm just guessing a r gt out here it is argentina i was going to sing that song to you but um we all leave that to others that have a better voice to sing that tune but if we do take a look at the tune that i'll sing to you or what's going on from a profile standpoint we can see that price is above the daily and the weekly profiles out here inside the box on a monthly basis it is somewhat bearish in a tone in the center at 2662 closer to the top of 2857 versus the bottom at 2370 so 2662 was going to be your next level of resistance oh i've got to put this in on my other charts out here uh don't cry for me argentina but let's go take a look at it you knew i had to at least say that right so as we take a look at ticker symbol a r gt out here um this is going to be day number nine of a td set up nine count uh so just as be careful if there is a high to form it could be and it was uh based on this pattern be there today or tomorrow um you've got an a to b equal cd pattern as well let's draw that in your a point all the way down here where it formed the roge momentum indicator bottom back on november 20th but let's take a look at our a to b equal cd out here and that's going to give us a year at the 1 to 1.272 you've got a widest ranging bar here john this would suggest to me that price would move up to the 2652 the 1 to 1.618 you just have to be on guard for any type of bearish reversal candle that would suggest at least on the daily basis that the move might be over without that price will continue to motor on higher how much higher look the breakdown area inside of this is at 3572 but it's got some gaps to contend with that's for sure steve roge with tfnn be right back 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 petersburg florida the tax act of 2018 set up tax-free zones across the country where you can build and hold for 10 years and pay no tax on the profits which makes these lots valuable the investment is anywhere from 30 000 to 75 000 the interest paid is 7% yearly paid on a monthly basis according to bankrate.com the best rate for a four-year cd in the country as of february 20th is 3.1 percent a 50 000 investment at a normal four-year cd rate of 3.1 percent would give you income of 1550 per year or 6200 over the four-year period that same $50 000 investment in the tiger first mortgage program would give you 3500 per year or 14 000 over the four years what 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tfnn.com then hit watch tiger tv for the latest market information welcome back folks we had a request to take a look at this chart here that i'll post this is our uh little nine panel chart that shows the dow is in the upper left hand corner see etfs out there so you guys can create this exact same chart maybe can't lay it out exactly like this but this is showing you the different etfs for many of the markets across the globe just to the right in the top panel for the dow you've got the dias what we're using obviously the etf is e w u that's the i shares for the united kingdom now the red horizontal line on each of these charts are the highs from back in 2018 you'll notice on this a set of charts here the only uh in to see that is trading above the 2018 highs is the dow in the case of the dow it's got a little rising trend line we use from highs that made during the year in 2019 out there and so it's above that and that's still looking more bueno now to the right of the united kingdom the upper right hand panel that is australia then we go to uh back to the left in the center you've got uh canadia you got canada uh you've got uh china china and then you've got india out there off to the right then we go down to the bottom left you've got germany uh the uh basically the edax uh so to speak you've got then japan and then you've got just simply emerging markets well we just took a look at argentina and brazil now what does all this mean what does all this mean jelly bean out here well means hey look the u.s. is the king dog but if the king dog decides to take a break how will that impact the others out there so this is the interesting it's not a chart the interesting scanner so to speak here's utilizing many of steve's tools not all of them just yet still working on it but here you can take a look in the uh the upper section are all the major indices in the uh u.s. and then down below that are the s and p 500 sectors now we just spent time taking a look at roads women to mindicator signals td set up nine counts out there those patterns that are in play we know that those can identify tops and bottoms doesn't mean a top or bottom will happen but when they do occur when they do form the hair on the back of your neck should begin to stand up that's if you have hair on the back of your neck i try to shave mine off because it looks kind of nasty if you know what i mean but let's just stay on track here look at all the daily topping signals out there it's a plethora we looked at the weekly channel the weekly looks pretty blank doesn't it on the weekly chart you don't see many topping signals do you not roads went to mindicator signals so go over a few column where it says w slash td nine there's our monthly td nine counts now those stars in there they mean that bar eight or nine because that's where it's at right now either bar eight or nine is the highest high of that pattern so those are very likely confirmed ones that have nine like the index 100 is already confirmed so the weekly has a topping signal the daily has a topping signal the monthly has a topping signal out here and all of this is taking place as we are moving towards our seasonal topping pattern out here seasonal topping cycle which typically occurs around the first week in january it can be delayed it can it can happen earlier so i don't know whether it's sooner or later it just doesn't happen at all but there is enough out here for me who's generally bullish with regard to our market signals to say hold on will robinson yeah it just got a hold on out here uh there are problems i mentioned the deck we were taking a look at the uh the international so this this here has me concerned maybe it doesn't have you concerned it has me concerned out here don't get caught into the fluff and stuff and and and you kind of get the picture out there the folks that aren't pattern people the folks that do not trade patterns they don't really have a clue as to how markets make tops or bottoms you and i we've got more than a clue we have absolute insight we have proof we are not once to say that these patterns will never fail no and we have to wait for the market to confirm these patterns we know that game out there but when we take a look at this daily topping signals weekly topping signals monthly topping signals you tell me as we move into what is normally where we see the market back off so if you're asking me on december 18th you know should you start putting money to work in this market well um don't don't do it because of no of course not we've got to wait you know now is the time to be patient look if there are and the only market here that's breaking it out as you can see the only market that's breaking it out is the us everything else is in you know some form of a consolidation out there no and i just don't see these markets lifting all boats higher in germany as an example what you got yesterday and you had follow-through today here is the dax out here you've got a roads momentum indicator top so in this case here not just are we taking a look at what's going on in the us now we come over to germany we take a look at it and it's got the confirmed roads momentum indicator top out there that's on its daily time frame i don't know what it's got on it's weekly but let's just simply go take a peek the weekly i don't have much it would be an a to b equal cd pattern that we would form but it doesn't have a bearish reversal candle and prices above it's uh steve's green line at 13 121 the monthly chart would we have out here well you still have that roads momentum indicator top which has never been taken which has not been taken out i can't say never looks like that was from back in october you've got wave number seven out here you see a couple of g's out there this is my automated uh wave count tool still working on it still refining it out there but it's coming along very nicely out here so you've got the monthly top that's in place already in germany so i'm folks i mean i've gotten emails from people saying did you say bear i did there's just too many of those no those patterns they may not form prices can just start taking up moving higher and doing with energy and then those roads momentum indicator signals will fail but they're knocking on the door right now and therefore we want to pay close attention if we take a look at horizontal trading range you know when you're in the U.S. markets you're above highs and everything you're above profiles where are you going to find support and resistance out there well if we just start with the dow as a matter of as a place to start here we can see we've got monthly and horizontal trading ranges out here these are the green and red lines where is price sitting right at resistance right at resistance say let's go take a look at the nq where is price right at resistance of its horizontal trading range for its weekly time frame so folks this is the time to be careful and the idea that cash is king yeah i'd say it really is king but speaking of kings i'm not sure what that meant but let's go talk to robert in overland park robert thanks for calling thanks for holding how you doing this afternoon hey i'm doing great steve thanks for taking my call i have a clarifying question on gdx you've indicated your perspective on gdx of gold just only rocks is over the long over several months you had a going down hey robert robert my apology but we're about to go to the hard break here so i didn't realize that when i took the call i do be a favor hold on we'll come back we'll finish up with you for the two-minute wrap for gdx i'll let you finish your question then and we'll go from there stay tuned folks we'll be right back since 1984 basil Chapman has been using the Chapman wave methodology to advise traders of his expert market opinion while originally hand drawing charts from the late 1970s into the 1980s basil noticed that prices under most circumstances virtually always had a certain number of legs to the upside before declining sharply later basil found the computer software which included the standard market technical indicators enhanced the degree of accuracy in calling price turns as well as market trend calls thus was born the Chapman wave sequence using the Chapman wave methodology along with other indicators basil Chapman advises his subscribers of his expert market opinion each market day with his opening call newsletter right now you can get a two-week free trial to the opening call basil's daily trading newsletter by visiting the front page of tfnn.com cancel at any time during that trial and pay absolutely nothing get your two week free trial to basil's newsletter the opening call today by visiting tfnn.com if you're a trader in the market looking for exposure to gold or gold mining equities then now is a perfect time to sign up for Tom O'Brien's gold report the summer is over gold is trading back above 1500 dollars and the 10-year treasury is hovering at around 1.5 percent Tom O'Brien has been writing his weekly gold report for almost 18 years there's no one that knows more about how the gold market trades and how gold mining equities react new subscribers get a 30-day money back guarantee so you have nothing to lose every monday morning Tom publishes his weekly gold report with coverage of gold silver bonds the xau hui gdx the dollar as well as more than 30 different mining equities as of september third gold report subscribers have five active open positions with an average unrealized profit of almost 38 percent for each position to see for yourself the types of profitable trades that are recommended within the gold report sign up today by visiting tfnn.com you know what's cool taking something that's good for you something specifically formulated to help with weight loss better sleep stress reduction and the need to detox nika our hunter and gatherer ancestors found all their nutritional requirements for health in their wild environment but today our food sources no longer contain the vitamins minerals and nutrients our bodies need to stay healthy and strong that's why we need primal edge daily nutrition it includes a special blend of ionic soil based vitamins minerals fatty and amino acids in an easy to use liquid form primal edge is powered by highly concentrated folic and humic acids nature's preferred delivery system they've been called miracle molecules because like sunlight air and water life cannot exist without them that's right page 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 eighty nine 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 we're going right out to robert because we've got about two minutes here so robert take her away with regard to your question okay so intermediate term and long term on gold is your perspective that i i think i may have got a little confused yesterday i thought i just heard you say that your view is over the next several months maybe in the next year you thought your perspective of the charts was telling you that gold was going to go down and i was thinking your long-term perspective on gold was bullish so is it is it just semantics like you're just finding kind of like long-term differently than than how i would is you think that's what's going on so i think that the breakout that we saw this year the move higher this year is real and but i think that there's still going to be a pullback now the reason i think that is just because that's what the charts are communicating to me i'm just letting the charts speak now i pulled up the gdx versus the gold contract they really they really both show the same thing and on the weekly base out here you've got this nice roads momentum indicator top we've had price basically trading in a range is trading below steve's green line out here i believe that the gdx longer term intermediate term i don't have the time frame per se nailed down here robert but i can easily see this pulling back to twenty dollars and twenty eight cents that's where it broke out gold tends to shake people out i think that would shake people out a lot of folks have bought in up at these highs out here and that move lower they'll be saying i don't want to be a part of it the longer term the larger picture out here for gold i still think looks good as well as the gdx so this formed a nice bottom way back in 2015 did it with the roads or 2016 with the roads momentum indicator signal we have steve's red line turn green back in july of this year usually price and it this is for the gdx catch up to each other that's at 25 33 i still see a further pullback inside of gold and the mining equities and the gdx and they may not be ready for prime time until a year from now but we'll just take things one step at a time does that help yes thank you appreciate it you bet hey robert thanks so much for calling happy holidays to you everybody else and stay tuned you got a great show out there and a big winner winner chicken dinner from david white i'm sure he'll talk about that have a wonderful wednesday folks i'll see you tomorrow a terrific thursday