 The following is a presentation of TFNN The Trader's Edge with Steve Rhodes at 1-877-927-6648 or internationally at 727-873-7618 The Trader's Edge now Steve Rhodes Good morning folks welcome to the July 25th the terrific Tuesday edition of today's Trader's Edge show I'm your host Stevie 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 Now the easiest way to do that. Well, it's to always remember that life is happening for us not to us That's right When you and I make that one little two-by-four shift it means we can find the gift in every set of Circumstance that life is gonna toss at us now today you and I we're gonna go check on 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 the sex 53 minutes I'm here to serve you so feel free to pick up that phone would love to hear from you at eight seven seven Nine two seven six six four eight now if you've got a question, but you can't call in You can always send me an email send that off to Steve at tfnn.com and inside the subject heading Please put radio show question. Of course if you're inside our Tigers den well then any in every ping will do So let's go ahead and get this show started on terrific Tuesday. Of course. This is Tiger financial news network I'm Steve Rhodes. Welcome to the show right now. You get all the u.s. And disease pointing north Printing out green. You've got the doubts of five points the S&P's of six and Aztec 169 Russell's up six some eyes up 54 trainees up 12 golds up three silvers up 29 cents lights recruiters up 37 pennies natural gas Was up just slightly and the 30 Treasury back a half a point trade down at 125 22 the leader to the upside MSCI up 32 bucks model ethic power systems 21 I'm spot 14 med pay 16 packaging Corp of America 14 That's a 10% move to the downside off 20 bucks to Spotify Huffledown 16 Raython down 13 biogen off 12 and black rock is off 11 That's about a 2% move to the downside So how many out there believe that the market is getting ready to top? Let me see that show of hands How many believe that the market is getting ready to just simply continue to move higher That's really the question that you and I need to answer now the way that we answer that is we take look at stock patterns We take look what the market is communicating to us. So first let's go take look at the equity future contracts Let's start there. We'll take look those daily equity future contract Out here because we left the market really answer that question for so I got one raised hand out there looks like Dan Now Dan was that for a topping market or was that for a market that's getting ready to take off top side? Well, if we take a look at the ES mini the pattern that we have out here that has confirmed a top so far as a Roadsman Dominicator top now all the price is doing right now is consolidating with inside its daily profile The ES mini would have to close below 44 56 to signal to you and I a change in trend But nonetheless the ES mini has a top So too does the enqueue the enqueue also forming a roadsman Dominicator top doing that four days ago Price as we talked about during the 11 o'clock update is closed below the bottom of its daily Bolastructure profile for two consecutive sessions that says the center of that profile should be resistance now on my white background charts I have different profile levels the black background chart. So is the center of the box at 15 681 That's the level to be watching is 15 681 a price close above that Then what we would say is price going to make its way up to its oscillator and change line right around the 15 872 level That is not the condition. We have at the moment If we take a look at the Dow and I believe the market has been waiting for the Dow to top and that top Complets today and that would be a TD nine count others need to be equal CD pattern And if we were to get a bearish reversal candle, that would just be a secondary top out there Do we need that top? No would we like that top? Absolutely. We'd like a bearish reversal candle just to confirm that Okay, we should continue to head south but the yes has a top the end queue as a top the Dow has a top and so too now And so too does Russell 2000 Russell 2000 formed a TD nine count top But it'll says wave number seven out there. You don't need two tops You just need one and we've got that TD nine count up. So all four equity future contracts today We'll have or should have now of course at the market takes off And it takes out the highs of the ES and the end queue then that would be off the table And the same thing would be if the Russell 2000 but short of that taking place We will have topping patterns in all four of the US equity future contracts That is signaling to us at least we should see price point back to support inside the yes many that should be 4456 inside the Dow that should well who knows where that's going to be There probably will be a new profile but right now the level be 34 544 and inside the Russell It's down at the 1942 level do we stop there and the answer is we do not now? Let me just close this set of charts out here just so I free up a little bit of space Let's go take a good cash indices out here. So now we go take a look at the cash indices charts Let's see what they're communicating to you and I here we begin with the upper left hand corner Is the Dow Jones cash index you also see the a to b equal cd But you see a TD 9 count top that pattern completes today the s&p 500 a rogment and indicator top the ndx 100 A rogment and indicator top in the case the Russell 2000 the Russell 2000 on the cash Indicee does not have a topping pattern in place just yet the summaries a rogment and indicator top the transports nothing yet The nasdaq composite rogment and indicator top and the new york stock exchange completed a TD 9 count top Yes, a now that makes yesterday's high goes the bar following bar number nine more important day if the end no yse and new york stock exchange were to close above 16 16 398 07 that top gets negated short of that it too has a top in place So we take a look at the u.s. Indices the majority of them have tops in place. Let's not stop there Let's go take look at the index ETFs. Let's take look at these sectors with inside the s&p 500 Let's go ahead and switch panels first. Let's get to the that's not the spot we wanted to be We wanted to be Here and now let's go change screens and we'll just stay with this screen We'll go over to the other one We take a look at the energy sector the xle no top in place And what this is doing or is likely doing is targeting its TD 9 count breakdown resistance level That's up to the 86 68 area. That's what it's signaling to you and I But take a look at the xli road's middicator top price below profile levels should head lower TD 9 count top when you take a look at the xli. So the first one was the xly This is the xli price needs to close below 108 29 to suggest to move to 106 22 A TD 9 count top is likely to form today inside the xlp The xlu likely targeting 69 39 is TD 9 count breakdown level in the case the xlb This thing is on fire. No topping signal. It's in place out here other than a wave seven a wave seven needs a Lower high that could take place tomorrow. We have a wave seven also inside the xlre That needs a lower high that could not take place until tomorrow SMH's have a road's middicator top. Let's go ahead and change screens out here Let's go over to my other screen the other screen is going to show us begin with the etfs The spy road's middicator top the cues road's middicator top the diamonds a TD 9 count top will complete today The iwm a TD 9 count top the xlk A road's middicator top the xly likely to complete a TD 9 count top today The xlf completed a TD 9 count top yesterday the xlc a road's middicator top Let me ask that question again. Does anybody think that the market is getting ready to top? Support levels must be broken That's the real key to all of those topping charts that we just looked at see roads with tf and n. We'll be right back Currencies commodities and bond markets are as important as ever right now with how they're driving the volatility in equity markets across the globe Which is why it's a great time to try out teddy keg stats tiger forex report Teddy keg stat breaks down the forex markets every monday using his 30 plus years of experience as a trading veteran of futures forex stocks and options Teddy releases his weekly tiger forex report every monday morning with coverage of all the major currency pairs Including the dollar index the euro dollar palm dollar dollar swiss Dollar yen as well as many more and he also has weekly coverage of the crude oil market and the 30 year t bonds as they both Influence forex markets tremendously when you sign up for the tiger forex report You also gain instant access to teddy 60 minute webinar archive He just hosted forex strategies and fundamentals What is behind the tiger forex report for all the details and to start your 30 day tiger forex report subscription today Visit the front page of tf and n dot com tf and n 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 tf and n dot 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 and stock prices get the opening call newsletter by basil chapman and 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 tf and n dot 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 at 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 tf and n all our newsletters come with a 30 day money back guarantee So you have absolutely nothing to worry about visit tf and n dot com and try mastering probability 30 days risk free today tf and n educating investors Toll free at 1877 927 6648 internationally at 727 873 7618 Folks so so on to uh request out here because we've got many of them The first one is coming in from a diesel inside the tiger stand Watch take a look at the gold contract if you take a look at the gold contract out here You can see on the monthly basis price right now deal with its oscillator and change line to close above that level that level right now 1959 will suggest a further move higher out here We've got gold just consolidating with inside its weekly profile. It's between 1911 and 1995 td9 count top that formed in the daily timeframe that pulled price right back to where it should have the oscillator and change line That is a likely level of support. We'll certainly know that when price takes out the high out here And that's up at the 1980 a 30 that would set up an a to b equal cd to the upside But for all intents and purposes if steve is right on gold it formed its next bottom today Um anything else for us to take a look at here on gold nothing else that I see out there So let's move on to the next request from diesel now is to take a look at light sweet crude So we'll pull up those charts as well light sweet crude as I mentioned earlier And the show should continue to move higher It's target is price target light sweet crude that is give me a moment here make sure we're on the same page We are on the same page light sweet crude should target its next a to b equal cd Which is not drawn on these charts here that price target is 80 68 If you look at the monthly chart price likely targeting 83 20 the weekly chart Just a good old-fashioned large consolidation pattern and again the a to b equal cd pattern on the daily timeframe No, they're topping signal price should continue to move higher there Let's move on to the next request the next request is to take a look at first Let me close this out next request was to take a look at twilio We take a look at twillow as a ticker symbol will get over there momentarily Twilio boom Twilio on a daily timeframe. You've got price got a rogment demiticator top It's now got an a to b equal cd to the downside Prices below the bottom of its daily profile likely to head lower the a to b pattern We'll just simply draw that in we'll just move that over to the c-point real quickly here right there So if twilio did form a bullish reversal candle that would generate a gartly sell pattern short of that Price should continue to move lower On the weekly timeframe chart. I just show price trading between breakout support at 42 78 and breakdown resistance 66 78 Let's move over to the next request next request was a take a look at envx Envx has a wave number seven top out here likely an a to b equal cd That was also confirmed with that bare sash candle price is now below the bottom of its daily profile This is the third consecutive day that suggests a change in trend It tells us that price wants to target 13 71 the weekly timeframe chart of td nine count top completes this week Bar number nine was last week price to target a sauce later and change line 16 49 becomes the print the monthly chart File resistance at the top of that weekly profile next one up car vana cvna So take a look at cvna this form made td nine count top had that nice big move to the upside And guess what that did all that did was set up that td nine count top now What price is done here? It's pulled back. It's tested support support is the oscillator and change line The oscillator and change line has held This is now a neutral signal here because you've got a top and you've got key levels of support that have held The weekly chart shows a td nine count top was negated. So this suggests it wants to move higher So the daily timeframe says okay that top just pulled back to support We've held we should continue to move higher that is car vana the next request out here And uh is coming from also from uh From inside the dan I think that was a ps cigar plant Palantir out here a td nine count road's meant to be indicator top Price right now deal with the bottom of its profile if price can close below 1644. We're looking at 14 95 On the monthly weekly timeframe api td nine count top with price consolidating with inside its profile out there So that the api s I know you wanted one other one. I believe was bbyo bb io We'll try to come back to that as soon as we get through the other requests that are inside the tiger's den So let's try to get to those so I know I blew through those quickly But that's because there were so many requests for that and I don't want to get too far behind But it looks like I may be catching up here and may need more requests But let's take a look at jp morgan this for g motion inside the tiger's den They'll so take just a moment here to populate and we take a look at jp morgan waiting for that daily to tell us Where we're out on the weekly we could see a td nine count top on the daily td nine count top completed yesterday So in order for jp morgan to suggest that it wants to really run higher You need to see a close above yesterday's high 158 79 short of that price should at least pull back to its oscillator and change line Currently printing at 154 52 with price for to close below that We'd be looking to move back to 145 71 per the daily time frame Weekly chart td nine count top likely to complete this likely to confirm this week complete next week But you got that daily topping signal So for all intents and purposes likely that top is in now the weekly monthly chart shows an a to b equal cd pattern The b point Of this did volume. This was the month of february 2023 169 million shares last month that was passed with 206 million So now you've got on a monthly basis They confirmed a to b equal cd to the upside inside of jp morgan getting confused now Now, of course the question I would have is are you a long-term trader? Are you a short-term trader? What kind of trader are you if you are a long-term trader long-term portfolio? We would have no reason to tell you to jettison your position Other than to say fasten your seat belt because there's turbulence ahead But on a monthly basis you have a confirmed a to b equal cd to the upside I get you below the 169 81 level that is its td nine count breakdown resistance overall with regard to jp morgan at a Minimum we should see a pullback to its daily oster and changeline if price gets below that We should expect a further pullback with the 147 level being the likely target. So g motion I do hope that helps you out with regard to jp morgan Thanks so much for the request the next request is coming in from code inside the tiger's end Once they go tpl So let's get t. Well, we may have a caller on the line and if that's the case and What we'll have to do is we'll have to come back this one. So we'll do that there kota Let's go out to ray and sarasota ray. Thanks for calling. Thanks for holding. How are you today? I'm doing well and hope you are also Question today about any Yeah, looking to figure out how high this can go on the run the current run and where support might be Well, let's talk about resistance first So you're you've got a couple different resistance levels or maybe have the same one Let me see. So i'm looking at the monthly time frame chart the monthly time frame chart formed a td9 count top That was a month of march of 2023 that high out there is 465 465 is your monthly resistance If I look at the weekly time frame chart 465 is the top of the profile if I take a look at the daily chart out here prices dealing with resistance right now And that resistance level is from the high of may 22nd The reason that's resistance is the following day was a bearish engulfing candle that sets up resistance at 416 So ray what I would say and take a look at the charts this way if price is able to close above 416 You then are likely to see a move up to the 465 level You also asked about support On a daily time frame support would be at about 385 I say about because 385 is a green outsider and change line if price pulls back that number will pull down The top of its daily profile is the current one that's in place at 374 Weekly support down to about 393 and monthly support. I would say 351 So overall you're dealing with that four. I think it was 416 level and if you can clear that then 465 now Price is going into that swing point. This is on the daily basis That's a swing point from the trading day of may 22nd 7.3 million shares traded hands at Today so far in nordic american tankers. We're up with 2 million shares So it would appear that you're pushing into that swing point with volume. Hey ray We're about to go to a break digest that and then let me know what additional questions I can answer when we come back See roge with tfn. We'll be back with ray and seris. So do we take a look at nordic american tankers old report As a precious metal gold is still king It continues to hold the most effective safe haven and hedging properties across the global major trading Hubs of the london otc market the us futures market and the shanghai gold exchange the gold report tom obrien publishes his weekly gold report every monday morning for subscribers Consisting of coverage of the xa u hui gdx the dollar bonds the south african rand As well as 25 different mining equities with specific buy sell recommendations The gold report New subscribers get a 30-day money back guarantee. 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That's tfnn.com and hit watch tiger tv Good back folks all us and c still trading to the upside We're take a look at nordic american tankers. We're on the line with ray and sarasota So ray after that little analysis Of the daily weekly and the monthly charge for nordic american tankers What questions does that pose for you that i can also help with looking at the same numbers that uh that you uh talk about today Perfect, perfect. They have a healthy dividend. So uh, it's a stock. I love uh, you know, if you've got time for one more Can you give me uh, absolutely? So we're getting so this formed a td9 account top yesterday for its daily time frame So that says that the key high that you're watching is yesterday's high That's 13 30 if you were to see a close above that that would tell you about a strong momentum move for the daily time frame Now the daily time frame has an a to b equal cd pattern out here So let's go ahead and draw that in we'll draw in the a to b And i'm just simply going to move that to the c point of this Just so we get a kind of a price projection out here and that price projection Ray would take us up into the 13 83 level now. We're not calling that just yet I would only call that if we saw a close above yesterday's high and again that number's at 13 30 That's what the daily time frame chart is communicating to us on a weekly basis Prices consolidating with inside is bowler structured profile prices above its green oslater and changeline That tells you and I price wants to go target 13 67 We're a broad profile on the monthly basis. So that says price wants to go target its recent highs out there So it's the daily chart that is really the uh cog in the Wheel right here now even though it formed a td9 count top yesterday Its overall signal rate is neutral and the reason that it's neutral is because price is above the top of its daily profile And price above a green oslater and changeline So you're waiting to see if price can take out yesterday's high if it doesn't what should occur is price should pull back to test that Oslater and changeline that would be at 13 14 right now if that holds then it just says it's probably on its merry way Up to that 13 67 or above that that a to b will cd pattern out there Any question any further questions about et as far as the analysis? No, no, I'm uh, I'm happy to hear your opinion on that because I want to sell some call options against a core position So, uh, that's that's very very helpful Perfect. You glad to be of help me a lot today Perfect. Hey ray always good to speak to you have a terrific tuesday. We'll look forward to our next chat Thank you as well. Thanks. You bet. You bet. That was ray in Sarasota. Let's go back to kota's question Which I believe was tpl Tpl we've got the charts up on our screen. So we take a look at tpl. Let me expand out the daily chart out here forms a wave seven Out here wave number seven bottom. That's a letter g out there It looks like you've got an a to b equal cd that has formed has it taken out the b point with volume b point july 13th volume there 26 000 shares And then yesterday volume 27 000 shares So you do have a confirmed a to b equal cd the upside but your resistance level is night is uh, 15 54 62 15 54 62 now let's draw on the a to b equal cd pattern out here So there's our a to b. I'm just gonna now. I'm just going to move this over to the c point. It's going to be pretty close Right there. So you've got a confirmed a to b equal cd gets you up towards 15 74 But know that at that 15 54 level You've got resistance out here No reason that it shouldn't continue to move higher Do you worry about yesterday's shooting star candle? In stevie's case, the answer is no it's more just kind of interesting information doesn't represent the top Bullish or bearish reversal candles are most important at the top or bottom of the pattern And we don't have that as we speak right now on a weekly time frame chart This has a rogment dominicator signal with price right now trading above the top of its weekly profile You're looking for a close of a 14 87 83 A code if you got that that suggests a change in trend on the weekly time frame out here You're dealing with monthly resistance up at the uh, 15 17 79 level that's the bottom of its monthly profile You'd like to see it close above that so overall with regard to tpl Yesterday you confirmed an a to b equal cd to the upside you've got resistance to the 15 54 area out there Other than that things look pretty good now when I say pretty good tpl has been on one heck of a roll out here Let's take a look at that roll that roll is going to lead to perhaps seven consecutive Closes to the upside it doesn't do that very often So you should really also be expecting out here coda For reasons i can't explain other than just knowing the dance steps out here There should be about a two-day pullback at a minimum I would say no, I'd say just a two-day two-day pullback inside of tpl out here So I hope that helps you out not a very liquid stock But at $1,500 a share I guess at uh, 26,000 20 how many shares I say 26,000. Yes, sir. Was that it? it was 27,000 Anyway, that's the analysis coda for tpl. Hope that that helps you out peak g Wanted to take a look at we also wanted nordic merrick taker So we got that one out of the queue, but the next one is asc So we take a look at asc. We've got price shot closed above the top of its daily profile yesterday trading above it today It's targeting a resistance level established by that bear sash candle at form on the trading day of july 6 So your resistance area is up at the 13 24 level now as we pull this back just a bit more Although we really see out here is a good old-fashioned sideways consolidation. So if that consolidation can get broken Let's take a look at this here Let's pull this back. Let's get the drawing tool out the rectangular tool. Here we go I don't always draw this in exact I get it pretty darn close So there's the bottom is really pretty well identified out here And if we get it close above this consolidation now what you really have to use for this Is you've got to use that resistance point and that takes us of that bear sash and it takes us all the way up there So if we get it close above this high 13 24 that's going to set up a consolidation measured move that should get us up Towards about the 14 79 area now. That's coming from the daily timeframe Let's go see what asc has for us on the weekly time frame And that is just simply this it formed a td9 cal bottom that bottom formed right out here on june 30 It's led to a consolidation with inside its weekly profile It's next likely target the ocelot and changeline the top of the weekly profile. That's up at 13 33 On a monthly basis What do we have out here? Really nothing that I could see other than prices pulled back But it's trading above the top of its profile below its green ocelot and changeline So co apigee if in fact price could close above 13 31 That would be your best outcome, but then we'll see 13 33 on the On the weekly time frame and again the daily time frame was 13 24 so 13 33 is going to be the magic number you get a close above that peak and this is headed higher uh, the next request coming out here from uh, oh, that's back to ap uh back to uh aps cigar inside the tigers in if I got that right and the ticker symbol that we're going to look at is b b i o And b b i o what did this thing do? Well, this formed a sell the d-point pattern It did that with that bearish shooting star that formed on july 18 price right now is trading below the center of its Bearish structured daily profile a close today and tomorrow below this number 32 45 should take b b i o Back to the 28 53 29 67 level the weekly chart shows a td9 account top as well We'll be back to finish take a look at b b i o and then we'll go out and take a look at sdpi for league 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 basal 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 basal 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 tfnn.com educating investors Everything in the universe is governed by the fibonacci sequence This mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market To stay on top of stock patterns You can take advantage of sign up for the fibonacci 24 7 newsletter at tfnn.com When you subscribe you'll get a weekly report from veteran day trader larry pesavento on stocks You need to pay attention to and you can trust larry's analysis 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 tfnn.com educating investors Are china a shares hot or not? If you trade china a shares now may be time to take a closer look Trade chau or chad Directions daily csi 300 china a share bull and bear etfs china a shares in either direction visit direction investments.com today An investor should consider the investment objectives risks charges and expenses of the direction shares carefully before investing The prospectus and summary prospectus contain this and other information about direction shares to obtain a prospectus or summary prospectus Please contact direction shares at eight six six four seven six seven five two three The prospectus or summary prospectus should be read carefully before investing an investment in the funds is subject to risk Including the possible loss of principal the funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor four-side fund services llc This program is brought to you by vista gold traded on the nyse american and tsx under the symbol vgz Shoots you got to all the usnc's trading to the upside a couple of sectors Well half the sectors inside the s&p 500 trading to the downside. We're taking a bbio And this we identified this form to sell the d-point pattern on the daily time frame It's got a td9 count top that is likely to form this week complete next week out here Its overall signal is really neutralized because price is well above its screen offset or change line well above The top of its weekly profiles out here. It's above the top of the monthly profile So it's really going to be the daily time frame That is what you need to be paying attention to cigar and again If we see two consecutive closes below the center of a bearish structured profile that's 3245 You're very likely going to get a move all the way down to the bottom of that profile. That's at 28 53 So hope that helps you out and thank you for all the requests Let's go to our next request is coming in from lee lee by email writes in a steve Can we revisit sdpi as sold into yesterday's rally and wanted to get your current thoughts? Could you give me possible buy-in price or do you feel this needs a rest and I should move on? So sdpi sdpi Is just gonna want to see what this is actually not that that matters a pillar superior drilling products out here All right, let's pull this back. What is this puppy doing out here? So he had a big a to b equal cd pattern looks like that completed I'll pull this down here. Why is that up there? so In that look that would that would kind of run like this Um, I probably should show it on the weekly, but I'll just do it on the daily So here's a to b so you know that And now I just got to kind of slide slide that or you you can all see that that more than made the one to one A to b equal cd pattern out there if I pull this back Yeah So yesterday was the aberration golfing candle quite a big one out there So that said to be resistance that yesterday's high by the way and that high out here is two dollars and 21 cents now what prices did Is it actually I might have to switch to the black background screen? Just so that you could more visually see this sdpi Because I can easily turn off price and that's what I think I want to do out here. Yeah, so let me do this This is a good one to show us the power of the profiles because everybody should be asking the question With regard to yesterday. Why did price find support where it did? That's the real question So we're going to change screens out here because that's going to answer we already know the answer right now I've sort of led you to it. Which are the market profiles? So we're going to go ahead and take a look at this But this is important just to understand the power of those profiles So what I'm going to do on this daily chart you can clearly see it But I'm going to still turn off the price out there Just so you can more easily grab these profiles for you So we're going to turn it off price and now what you'll see here is a big old bolder structured daily profile And that bolder structured profile support is between the range of 126 and 147 one of your questions was Where's the possible buy-in price now? I'm not saying that you buy it because that long wide-ranging part of the downside but 126 has absolutely held this support Now let's turn price back on out here And so support is held now. It's a bullet structured profile What price now needs to do is close back about 147 to then suggest Lee that wants to make that move up to two Dollars you've got a high volume high out there So tom would tell you I would tell you price should be able to retest that high at some point in time On the weekly timeframe start a chart. Let's stay here as well This is going to have the a to b equal cd pattern as well out here Here I can just simply draw that in the a point down here at the low of the week that began September 19th looks like that high came in on the week right here of March the 6 2023 and then the c point march 20th So this made about a 1 to 2.618 a to b equal cd But price also pulled back yesterday the week is not over and it tested support and support there buck 24 So you got support at 124 126 out there and you got resistance most certainly at the 238 level that happens be the top of that monthly profile So let me make sure I answer the questions You sold it yesterday in the rally excellent You wanted to get your current thoughts. I think you've got those could you give me a possible buy-in price? Or do you feel needs to rest Well, I can just share with you. You've got that strong. You've got support at 124 and 126 Now on an intraday basis. Let's see what we can do here. Let's pull this chart over on an intraday basis What do we have? What we don't have is a confirmed bottom pattern out here and you have price consolidating with inside the daily time frame So I wouldn't take a position in this lee until I saw at least some type of intraday bottom It doesn't have to be the 30. It could be the 65. It could be the 130. It could be the 95 out there But that's what I would be looking for on a daily time frame as well We can see that yesterday was day number one of the pullback Today, maybe maybe it has to close below yesterday's closed to become day number two of the pullback You would think based on yesterday's move if this thing was weak It would at least do that and that we would see, you know, two to three days would be the normal retracement On a on a pullback on this in a bullish market. So I'd kind of be watching that as well So to summarize it. Yeah price definitely found support Do we have an intraday pattern that tells us that that's the time to buy in not under 30 minutes But we didn't investigate the other ones out there so lb I hope that that helps you out and thanks much for taking the time to write in much appreciated last question that I see I believe Nope, okay. I can do natural gas. All right next question Is from dan the man levitain dan watch take a look at amc We take a look at amc. Let's get those stock charts up on our screen here yesterday big old rally right into where TD nine count breakdown resistance not only just as TD nine count breakdown real I've got to change screens here. Otherwise, mr. Bill's gonna nail me I think I might have got it and he was probably typing but I think I caught myself Here's the daily time frame charts now or daily weekly monthly for amc So big old rally yesterday. Why did it stop where it did? The TD nine count TD nine count breakdown resistance 5 95 and assault TD nine count pattern That also has resistance right up here. That's a trading day of May the fifth and that high is six dollars and 11 cents That's what price would need to close above to suggest that this thing wants to make a move to 675 So now you're trading between support 426 and 409 in resistance at 5 97 turns out on the weekly time frame chart You've got resistance at the top of its profile out there the top of that profile is at 5 92 And on a monthly basis amc has got resistance to the bottom of the monthly profile That's at six dollars and 14 cents out there on a short term time frame We don't see a bottom at least not as of yet, but likely to get one here. Well may get one here As price is trading with inside its 30 minute profile bullish in structure But what it really needs to do is got a spike below the low of the day so far Which is down to 503 it's got to do that with the next couple of hours to generate a potential TD nine count bottom So with regard to amc the daily Brand into resistance the weekly is dealing with resistance right now the monthly also dealing with resistance out there Um, what's the next move? You know the uh, the 30 minute chart suggests sideways to lower out there That's what I see as we speak right now Dan, oh, I hope that that helps you out And best of luck to you with whatever trade it is that you're trying to put on there Our next question. I'm just trying to go through make sure I've got these out here Any updates on natural gas? So let's go pull up the natural gas charts out here and that will give us the updates So give me a moment. It'll take a minute for these natural gas charts to populate a And there we go natural gas Oh, mr. Bill. He was typing. I knew it caught you actually you caught me in thanks I appreciate that hate to go through a whole chart like that be on the wrong screen And then have to redo that for everybody And listening to me one time could be enough to you know second time In any bet Steve Rhodes with tfnn will be right back. We're gonna take a look at natural gas See if there's any update there If you're looking for potential trading setups in the stock market then rocket equities and 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 Sign up for rocket equities and options report today with a 30-day money back guarantee So you have nothing to risk for all the details and to start your subscription today. 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The answer is no not really What we know about natural gas is on a daily basis I'll just simply expand out the chart is what we have is a good old-fashioned consolidation With inside its profile What that ranges from is a 250 2.5 zero one. That's your support level 2.757 is your resistance area now. There is a sell the d-point pattern out here So in order for natural gas to really get bullish out here Price is going to have to close above the high of june 26. That high is $2 and 91 cents If price closed above that that will then set up an a to b equal cd pattern We don't have that as we speak just yet instead what we have is just simply a good old-fashioned consolidation If I look at any of the other charts out here So as we size this one down properly weekly beautiful bottom That bottom roads meant to mitigate her bottom consolidation with inside its profile now What we're really looking for here or what I'd like to see is I'd like to see a monthly close That's going to be next monday can natural gas close below 2.676 now that's coming from the continuous contract. I might need to go back try to take a look at that But to brighten out that's the number that we're going to use out here 2.676 That was the close that I'm showing for that month that month by the way is That was a march of 2023 if we get that Then what we will have on the monthly base is a td9 account bottom Of course that bottom could be confirmed the following month roads meant to mitigate her bottom on the weekly time frame And if we pull the daily back out here The daily didn't have a bottom pattern Doesn't have to know it doesn't have to at this stage here And then the ps day resistance would be natural gas on a yearly basis Is in bar number nine of a td9 account So if ever there was going to be a major bottom inside of natural gas That signal could come at the close Next monday, and so let's take a look at it on monday or tuesday It will probably be tuesday up next week folks day two for some great programming Thank you so much for joining me here on terrific tuesday. I'll see you back on wonderful wednesday. Have a great day Take care. Be safe out there