 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 March 31st What is today? Today is today is the What is today is today Tuesday Wednesday Thursday today's Thursday. It's the terrific Thursday Edition of today's Trader's Edge. Oh, sorry about that folks I had some system problems here that I'm just trying to recover from and clearly it has thrown me for a bit of a loop But do you know what Stevie likes to say everything in life is happening a for us not to us So that's what we're gonna go try to figure out why it's happening to us or for us out here But in the meantime, thanks so much for joining us. Hey, I'd love to hear from you You can give us called 877-927-6648 if you can't call in we've got you set up there, too You can always send me an email send it to Steve at TFNN.com Inside the subject heading please put radio show question and of course in our Tigers Then will any ping will do so let's go ahead and get this show started on terrific Thursday Of course, this is Tiger financial news network. I'm Steve Rhodes. Welcome to less show right now We've got all the US indices trading the downside actually I got that screen back up. So give me a moment here We'll just change over to the back Wow, what is going on with the system here? So here you can see all the US indices that we track trading to the downside the dows off 191 S&P's off 19 NASDAQ 100 is down 88 rustles off a couple points. So pretty strong They're really flat some as it out 39 points. That's 1% there the leader percentage wise to the downside Gold's up 11 bucks trading out at 1950 Silver's up one penny trading at 25 13 likes recoup is off 5 bucks 102 88 is the print there Natural gas having a big day 3% to the upside 16 pennies trading out of 577 30 or treasure up 19 ticks 150 oh one is the print there to the upside. You've got booking holdings dollar wise 53 bucks then followed by that is regenerate pharmaceuticals 1650 to an half percent globe ant don't know what that is But it's up 6% Palo Alto networks up 13 bucks to an a quarter percent shockwave medical up 7% or 13 bucks the downside It's Google of 34 bucks then followed by Amazon at 31 That's down 1% hub spot is off 22 or 4% charter communications 20 bucks 3 and a half percent Shopify 20 bucks as well Just below 3% to the downside. So One of the markets doing well first Because I had to reboot let's go see if these new profiles still exist inside the es They do and the nq and the ym and the russell 2000 Make sure we're on the right screen we are So each of the four equity future contracts are attempting to form new profiles What that means is they are attempting to form new levels of support or resistance Now in the case of the es many we're looking at the very left hand panel What you will see is prices trading or price the new profile that's attempting to form is below price What that is a message of that is a bullish message that would remain a bullish message as long as price remains above 45 12 45 12 is the center of what is a bearish structured profile course prices above that level If there was just this was just a counter trend move that would be one of the price target areas that you would be looking for 45 12 to 45 32 Now there's a little red trend line drawn across the top here which price broke above a couple of days ago So it's possible that all the es many is doing is pulling back to test that level And that's really a key area now you're going to say what is that level if I put my cursor right at that red line we're at about 45 67 I would say so if price uh test 45 67 rejects it That's got to make you say something to think about now the nq really doing the same thing Not the same thing from a trend line standpoint the same thing with regard to a profile standpoint Let me just spread this out for you just a tad here. So by the way the profile levels inside the es I think I covered them at 44 52 at the bottom 45 12 and 45 32 No, this profile will not be confirmed till this evening. It could change It has not changed since very early this morning and that is the same for all three of these profiles So they are truly trying to take hold, but we just won't know until this evening If we take a look at the nq you can see that it's profile levels I'm going to start from top to the bottom the top is at 14 878 the center And this is also a slightly bearish structure profile is at 14 63 And then the bottom of that is at 14 391 now I want you to pay attention to both those profiles from the standpoint That the bottom of the current profile is above the prior bottom and the high of the current profile is above the prior high out there That is a bullish trend from a profile standpoint. So that is Suggesting to you and I that what the markets want to do is actually move higher now They've got to be able to clear resistance. Well in the case of the s&e and q they're already above resistance The top of those profiles not the case inside the dow in the russell 2000 So they're the ones most certainly to continue to keep an eye on however their profiles are also above the prior profile So from a trend standpoint They are generating a message and that trend standpoint will remain in place unless price Closed below the bottom of those profiles in the case of the dow equity future contract You're looking at 34 320 to 34 5 34 it is a bullish structured profile now when this form price is contained with inside this area So what does that mean? That means it's guide in in the case of the ym if price is going to continue to pull back And by the way the ym does not have a topping pattern out here Um, so it's really taking its p's and q's from the e s and the n q But should the s and q continue to pull back I would assume the dow would as well and therefore its price target or its buy area might be between 34 320 and 34 5 34 Now you may say why did you say might be well? That's because we have to take a look at the oscillator and change line values because that could also be another price target for support in the case of the Russell 2000 its profile levels now the top has already been tested today And that's at 2098 the center is at 2078 and the bottom is at 20 49 so those would be the levels to be looking at again They will not be confirmed until this evening, but they are provided us with important information at least I believe important information and that important information right now is when we do find some type of solid bottom That's going to be a viable bottom and that could be setting up Really the c point of an a to b equal cd to the upside for each of these now i'm not saying i'm not guaranteeing That's going to happen, but that's the logic or the thinking that should be going on as we speak right now We'll get more of a confirmation of that come this evening or tomorrow when we're together at the one o'clock So that's what these charts are showing us will change over i'll change over we'll take a look at the white background charts Well, actually yeah, let me just change over and do that because i uh because of the technical difficulties that i was having I was unable to do that one o'clock update. So in essence, we'll do that too So here when we take a look at this nine panel set of charts out there You've got the esnq and the dow in the upper sections here and another Potential price target is going to be that oscillator and change line. So in the case of the es it's at 44 85 right now 44 85 would actually get us down towards the bottom of that daily profile Now if price were to that new profile that is potentially forming if price were to test reject that green oscillator and change line That would also be another potential buy signal That could also be a potential c point of an a to b equal c d the upside But we don't want to get ahead of ourselves at this stage right now The td9 count inside of the es many has taken hold I think we came up with a figure of about 40 What was it 44 77? Let me just make sure 45 67 so about 45 67 So price gets below 45 67 That's going to be a signal to us that price should target that oscillator and change line Or at least the top of that profile 45 32 level the end to really the same set of patterns out here It's got that td9 count as an oscillator and change line that has changed colors It's suggestion moved to 14 479 14 479 would take us to the bottom of its daily profile out there. So Those are the signals So this is a piece of information the dow by the way its price target around the 34 349 level we can back from this break. I'll go see if we've got any questions We'll continue looking at the markets Steve Rhodes would see at the end, right? Steve Rhodes started his trading career as a student almost 20 years ago And the student has now become the master Steve won the prestigious timer of the year award in 2018 And barely missed that mark again in 2019 finishing it number two for the year an amazing accomplishment Steve Rhodes is committed to sharing his techniques and knowledge with anyone who wants to learn And he shares his vast amount of trading knowledge every day in his mastering probability newsletter Steve's award-winning newsletter Mastering probability is delivered every trading day with updates throughout the afternoon sign up for steve's market newsletter Mastering probability and you'll receive access to seven of steve's educational webinars Absolutely free at tfnn all our newsletters come with a 30 day money back guarantee So you have absolutely nothing to worry about visit tfnn.com and try mastering probability 30 days risk-free today tfnn educating investors What's separating you from the most successful men and women on wall street? 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Watch online at tfnn.com or on tfnn's youtube channel And become the investor you were born to be tfnn educating investors Free at 1-877-927-6648 internationally at 727-873-7618 Welcome back folks. Let's go to our first question This one coming in from Nancy A and Nancy wants our take on the cues for today and tomorrow And is looking for support and resistance So Nancy what i'm doing here first is we're taking a look at the nq and hopefully you caught the opening Of the show where we take a look at those new profile levels So we're trying to get a feel for what's the nq signal That is being generated for us as we speak well right now what the nq did earlier this morning Was it formed now i've got the 30 minute time frame chart by the way So we're looking at a 30 minute time frame chart what the nq did this morning Was it formed a nice td9 count bottom that that is still held And that's the bar that took place at 10 o'clock and that low out there nancy is 14 9 80 25 So that's going to be the first key level that you need to keep an eye on And you can see that that level has been tested A couple of different times it was tested well first right after that at 10 30 And that was tested as we came on the air at one o'clock it's being tested as we speak right now But you can see it's holding so 14 9 80 25 is the first level to watch if price closed below that And i would say two consecutive closes below that then we will know that a td9 count bottom will have failed And that the price target will become its breakout level and that's at 14 7 81 75 now It would also Signal an a to b equal cd to the downside and as we just take a look at the a to b leg versus the c to d leg That would get us to somewhere around the 14 9 16 area But that would just be the one to one level so i'd be watching 14 9 80 25 So what does this mean if in fact? This td9 count bottom holds well What it means that we should see another rally attempt in the case of the rally attempt That would be to the oscillator and changeline if you take a look at that red oscillator and changeline And we look at really since earlier this morning about five o'clock price has been below it Each rally has found resistance at that oscillator and changeline So there that provides you with an important piece of information That is currently the oscillator and changeline for the 30 minute time frame is at 150 30 If price is able to close above that level by the way if price rallies from here It won't be 150 30. It'll probably be like 150 32 Something like that, but if price is able to close above that red oscillator and changeline Then the signal would be a move to resistance and that next resistance level would be its td9 count breakdown area And that's at 15 146 So right now what you've got is you have an important level of support holding And you know you now know the two levels of resistance that you would be observing And i'm not saying there's not resistance at 15 101 because there is that's the top of the current profile But it'd be 15 101 to 15 146 now Let's look at the other time frame charts here for the nq Nancy's specific question is about the cues but in order for me to get my pattern information We've got to take a look at the nq and the case of the nq for the daily time frame Again, don't want to beat this dead horse here. Not that i'm a dead horse But you do have that td9 count top that has taken hold both yesterday and today We're trading below yesterday's low. That's why you're going to pay attention to that level that we took a look at under 30 minute chart 14 9 80 25 If there's a close below that that really could be signaling to you and i Nancy that price wants to make that Move to that 14 5 35 level. So that is the most likely outcome And i'd say that would be the most likely outcome as long as price remains below that 30 minute red oscillator and changeline Currently printing at the 150 30 area if we look at a 15 minute time frame chart It's trying to form a roadsman to indicator bottom as well as a td9 count bottom out there So now we're getting really super granular out here 10 minute is showing us bottom worthy pattern out here a td9 count potentially We look at a 60 minute chart out here. I don't have much So price here is below support what I would expect in the case of well, I take that back the 60 minute chart Is actually in the well it has a wave seven bottom. Well, really did didn't need to open this up So coming from its high out here that high is that we're looking at was uh at 4 o'clock and that was yesterday. No, that was two days ago. So 4 o'clock two days ago. That's the high And we start counting our wave counts to the downside that what actually took place here at 11 o'clock this morning while we got a td9 count pattern on the ES mini I believe it was or it was the 30 minute chart for the nq We were getting wave number seven. That's letter g on my chart out here Now even if that fails during the nexus is a 60 minute chart here between now and two o'clock meaning that price pierces that low that low being the 14 966 level it price pierces that between now and 3 p.m That could give you bar number Well, I would give you a confirmed td9 count bottom and with its oscillator and change line having recently changed colors Price and that should catch up to each other But that could just be a counter trend rally you could see price has been contained by that oscillator and change line So you'd be looking at resistance to 150 73 So right now Nancy you're looking for the markets to answer that question for you and those easy answers will come Not any rallies as long as these td9 short term time frame patterns hold what's the td9 count or it is wave number seven Even on the 120 minute chart you can see how price pulled back and is tested to support level That's its breakout level of 14 962 So the cool thing here is we have all of these bottom Signed out all these we have a couple of these bottom signals for the short term time frame charts out there And therefore we know if we see a close below the low of today out here That's going to suggest that the markets continue to head lower And if you get that then it would not be unusual for price to go target that 14 534 level now I know that that doesn't necessarily help you out if you're only looking at qqq series charts out there If you are trading the cues Uh, you know my recommendation out there is to also get access to the equity futures charts and to Learn some of these pattern tools that we take a look at but i'll still try to answer your question for you about the cues And take a look at the daily chart. I'll just put this over here This is happens to be nordic american tankers, but we'll just simply go ahead and change this out to the cues You just try to provide information here too, nancy for that So now the oscillator and change line here and you can see this also has a daily td9 count top The oscillator and change line reading is 354 now interesting Uh, you know how i mentioned to you that the q that the n cues are attempting to form a new profile below price Well now that we take a look at the qqq chart and that's thanks to nancy out here We can see that that's in fact indeed what took place yesterday inside of the qqq series etl So nancy What this tells us is that if this td9 count continues to take hold price should move back to 361 33 first That's the top of that profile 358 70 second that could be the end of any move lower And if price does get below that then it's that oscillator and change on the 354 below that the bottom of that profile So this profile has actually formed 350 point eight threes the bottom of the qqq profile And that's I I think that should be an indication to us that the profiles attempting to form inside of the nq which are below price, which is a bowler signal Is uh is in fact that bowler signal and so what what that is telling us is we should not expect or anticipate That price is going to go ahead and get back to these february Or march lows out here inside of the cues now We would take that call off if we saw a close below in the qqq series etl 350 83 So that's what we've got there just for the heck of it. I'm going to put up the spy chart I just want to see if we get that same signal meaning a new profile that formed yesterday So we don't have that here So the cues signal the nq signal that we're looking at I'd say that seems pretty solid and likely to form But we don't have a new profile that has formed inside of the spies out there So I can't really make that same call the call that I can make Is that the spies or the s&p continues to move lower that his price target is in the 447 level the 447 Is the top of the current profile as well as where it's oscillator and changeline design So nancy, I hope that helps you out. I know you thought I maybe was not doing the show because of technical difficulties But luckily life was happening for us and stevie was able to get everything reported so that we could get going online here So hopefully you heard that And have a terrific day. We come back for this great kektor and patty. They are our fuel injectors They want to take a look at wfc. 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So we've got the charts for well as far go up on our screen Wfc is the ticker symbol. This is for hector and paddy and hector's question is is time to load up the wagon So we'll shift back and forth between the white screens and the blue screens out here Odd the uh, the black screen. We don't we don't like blue screens. That's the blue screen of death But both regard to the dark black background screen the e-signal charts one. You can see the trend line You can also see that price stopped right at the top of its bearish structure daily profile That was on the trading session hector of march the 22nd So price really stopped where it should have remember the body the candles. Yes, it's a price We don't worry too much about those wicks the upper and the lower shadows out there So price, uh, stopped right where it did now just so happens That as that was occurring that was bar number nine that was forming on that same day that price was testing that Very key resistance level. So, you know, you've got to confirm td9 count top If we just take a look at retracement from the low to the high on a daily basis prices test into 0.618 area So that's at 48 99 prices trading at 48 88 Are we going to worry about those 11 pennies? Not so much But if you do get a close below this 48 99 level hector, the signal would be that price should go to the 0.786 area Now the cool thing is or potential cool thing is that what wells fargo is also doing It's pulling back into its swing low from march 7th that swing low generated volume of 56 million shares You are only at 13 million shares at 130 after four hours of trading So this is pulling back with light volume The question is where is the time to enter this trade which hector and patty are looking to do Do we have that signal right now and we don't and one of the reasons we don't patty And hector is because price hasn't yet tested that swing point that swing point high is 48 58 So just down, you know about 30 40 cents from where we're trading right now If price did close even if it's on light volume below 48 58 today That's a signal that price might want to or should or could pull all the way back to the bottom of that level But we do know that we've got a profile at 46 53 What we also know is on a weekly basis not only is price testing that swing point area Or potentially testing that swing point around light volume the weekly already is the weekly is inside that swing point That was a swing that began march 7th now there. There was volume of 200 million shares It's thursday you're at 90 million shares So this is really pulling back with light volume. So I get the thought process I believe a hector and patty that you're looking at now on a weekly basis prices pulling back into its bullish structured profile area That is between 47 51 and 48 77 So knowing what we just took a look at on the daily time frame out here I'm going to suggest that the better load of the wagon might be in that 47 51 level Or could be just getting to that little rising trend line No guarantees, but right now that's what I would suggest I'd be patient on this Especially taking a look at knowing that we've got a td9 count top on the daily and that that would suggest Maybe pulling back even further. So pulling back even further now that we've taken care of the And I guess if we look at the monthly chart all price has been doing is testing at top of that monthly profile 48 13 So that's a bullish signal as we leave the month of march at the end of the day But nonetheless, let's go take a look at the white background charts and see what additional information we can glean on this First piece of information picking up from the monthly is that prices pulled back tested and rejected that green oscillator and change line That is a bullish message. So hector and patty I think you're on to something at least the monthly chart says that now the weekly shows that confirmed rogement and indicator top And we did see that back here in the week of march the 11th out there that price tested that bullish structured profile So your better entry area into that says that 47 51 range On the daily time frame chart, you can see the td9 count top You can see price trading below the red oscillator and change line This is suggesting to move to 47 85 to 46 53 So maybe when you do take a position or should you take a position inside of wells fargo Maybe you kind of ladder into it because you might have some different entry areas here to consider You'd love to see some type of bottoming signal on a short term time frame chart Now i'm not really referring to the 15-minute chart out there But as we speak right now, we don't have that now when I say we don't have that You're actually on a 30-minute chart in bar number eight if I just simply refresh this That should show us that at least bar number seven So wells fargo could be forming a bottom between 130 is 134 right now and 230 on a short term basis But the key here what I'd be watching for hector is whether or not price can overtake its oscillator and change line That's really printed in 49 18. That's what would need to happen To even give some type of suggestion of a potential bottom signal out there That's the only time frame that I see some type of bottoming signal So things look pretty good, but I think the setup isn't here just yet just now And so let's go ahead and wait at least for that 47 51 this area Then maybe take another look at it come tomorrow Can we make the case that this could be support? We can we most certainly can again the top of the monthly itself The center of the bullet structure weekly is holding and you're at about the 0.6 when a retracement level of that move from low to high So hope that helps you out. Hope that analysis helps you out Thanks so much for writing in as always and have a great day the next question coming in from mark d and mark says Hey, steve. I much appreciate your humor. Well, that's great. I appreciate that And thank you for that two questions if you may you may You know all you have to do is just compliment the host and then you can get as many questions as you want answered I'm just kidding. I would answer your questions no matter what so two questions First one is you've been in newmont mining any m So let's get that newmont mining flowing on these white background charts continue reading the question out here Give me a moment to do that and it says so you've been in newmont mining for a while It seems to be bumping against resistance and soon hit an all-time high Boy, this newmont mining is looking in boy bueno Whoo It is looking good. It's looking good. It's take when I when I say it's looking good I mean it's taking out its daily profiles. It's weekly profiles It's monthly profiles on a monthly basis the swing point had volume of 150 million. You're 217 million Boy, that's most definitely what you like to see mark Your question is seems So let me go on you say it seems to look good on a monthly. Well, there you go I concur and it looks great on a monthly but needs more volume on a weekly So the weekly volume that you're taking a look at was a week from march 7th that had 60 million You're only a 20 million. So I see what you're looking at, but you're above resistance You're above the top of that weekly profile out there So I wouldn't sweat it too much and on a daily basis the swing point has 17 million Yeah, you're only you're only exceeding it by 3.5. Okay, so let's go see. Oh, that was the white background charts I apologize Let me do this here. Let me put that black background chart up on the screen and and then we'll go back to the white ones Sorry about that somebody should have been hitting me with a two by four So there's a black background screens there You can see what I was referring to and looking at this and saying man this chart really looks good out here So so there's a black background charts now. Let's go switch over to the Other charts and see what kind of signals they have because they may suggest that Hey, we're getting over our skis here. Let's go find out. So on the monthly basis, we're not over our skis at all This is a negating a roadsman to indicator top that form back in may of 2021 So this is looking very good. Like you had pointed out on the monthly basis in the longer term Is really what we're interested in now on the weekly side says You you you identified that weekly volume pickup And on a weekly basis, you're going to get bar number nine of a td9 count So the weekly says you could see a top Between this weekend next week remember the td9 count pattern the high can't occur on the bar following bar number eight Now this would suggest that if price we're going to pull back the first level to target would be the top of the profile At 76 39 and the next area to 71 41. I also see I've got weight number seven out there So you have two potential topping signals on the weekly basis to go along with that low volume That may just be preparing us for a retracement But when we come back from this breakout here, we'll finish looking at newmont mining's chart Which means we'll look at the daily which I see no topping signal whatsoever We'll be right back Are you in the market for buying or selling real estate in the bay area? Including the surrounding st. 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That's tfnn.com and hit watch tiger tv Welcome back folks. We're taking a look at ticker symbol and again. That's do not minding. This is for marca d And uh, so we're let's get back to the daily timeframe out here So we what we've proven or the charts have communicated to us as the monthly is very very strong The weekly says uh, you know what this might form a top between this week and next week out there So just be careful and the daily says that it's more likely next week mark than this week that we would see the Top and the reason is because one price has taken out wave number seven. Oh, here. Let me get my cursor Let's get you to that day. Whoops What did I do there? I didn't do what I want to do So it's taken out that high from march the eighth No other topping signal price above the green oscillator and change line the top of its daily profile Mark the message right now at least at 143 I can't tell you what's going to happen at 144 But 143 the message is that price wants to move higher now It is moving higher with less route of energy and if you didn't get a bearish reversal candle Then you know it would confirm erosement of indicator top and suggest their price would pull back to sport Of course that first level and second level are going to be the oul and then the top of that daily profile out there So your your question specifically was does it look strong enough to stay in? My answer is yes It does I see what you're mostly focused on the weekly But again, that daily is suggestive right now That this should see higher price now it may stall out today The reason is you've got a td9 count top on the 65 minute a td9 count top on the 30 minute And so if the highs of the day take are taken out Well, that tells you about a nice strong move to the upside But wait just be and this is probably since those those topping signals came in for those time frames It's just been a sideways move So there's nothing significant here or no reasons that I could find no logical reasons I'd have to lie to you and I'm not going to do that But there's no logical reasons to jettison your position Right now and the monthly chart might be saying you might want to sit through A uh, you might want to sit through a retracement here But we'll guess we have to deal with that once we see an actual top in the daily time frame Your second request was a take a look at roku are okay You is the ticker symbol and it says the following I entered a small position And oh you say rock not roku. What was I doing? What was I thinking? So sorry about that ROCK and Well, I'm prepared to give you a roku But we're going to go ahead and give you the rock out here, which is Gibraltar Industries ROCK So, uh, let me just do this here quickly I say quickly because I know it's going to take just a moment for those screens to get caught up Let's let's look at the black background screens here and we'll go back to those white ones So want to make sure you entered a small position and rocked today at 44 bucks Yeah, it looks like we're into we're in perhaps you're a bit early in the entry But wanted to see if you had any feel for this one. So here's here's the issue right now It's trading below the bottom of its bullish structure daily profile that bottom was at 45 37 It's trading into the swing point from February 24th that had 515,000 shares you're trading into a light volume What you need to see today though is a close back above 44 48 the bottom of that swing From February 24th, even if you close below a swing with lighter volume says you could continue moving lower Now, I would ordinarily say continue moving lower to the bottom of the weekly profile But price right now this week is trading below the bottom of that profile and that is at 48 by 46 bucks even Stephen So trading below that says this thing may pull back even further The first target I would look at before I look at the white background charts is the swing point that it's dealing with Which was from which was from May 11th of 2020 980,000 shares there But you are inside that swing point and even if you close into that swing point that would mean below 44 27 You can still see lower price. So these charts and you're below the bottom of the monthly profile So when it comes to Gibraltar industries, we need to go switch those white background charts What we need to do is we need to help mark Fine see if there's anything out there on the white background charts that suggest some type of bottom or some type of bottom is near So now we look at the monthly timeframe chart We get the idea of what mark was looking at but this is march 31st and mark This says if we close below the low of last month that was a bar following bar number 9 That low out there is 44 48 That says that this should likely head lower or below any profiles So head lower says we'd really have to do a much thorough much more thorough investigation on that But it would be it's not a good signal today to close below that low And you really like to see this close back about 45 82 But let's not make it too hard for this instrument. First, let's just take a look at last week's low If we look at the weekly timeframe chart here for rock What do we have? Well, the weekly timeframe says, okay Steve oh, how are you going to deal with this? You're in bar number nine this week I tell you how I would deal with that. We know that lows can form on bars number 89 to the bar following nine I'd have to go with based on the weekly chart. It would likely be the bar following nine So you're already in it. Would you stay in it? Anticipated that I wouldn't I would go ahead and take my Small loss or at least make sure you've got a stop in place and at least watch the end of day And if at the end of day, you're going to close below last month's low and again that number out there was 44 48 You're in not too much below that I'd really considering jettison that position out here the daily timeframe. We already talked about how it was testing a swing point But it's trading below that swing point. That was also rose meant to indicator bottom So you close below that that says likely lower price and you would need another bullish reversal candle on the daily basis To generate a rose meant to indicator bottom That's the only bottom signal that I see at the moment for the daily timeframe On an intraday basis Do we have any kind of bottom signals any good news here for mark and the answer is the 65 minute chart Is in bar number nine as we speak right now that's going to complete at 150 So about two minutes from now So you could get that bottom signal that you're looking for in a short term timeframe to perhaps get that Enough of a bounce to get back above those key levels that we were looking at short of that Again, so how I'd play it. I'd wait towards the end of the day. I'd still have a stop You know, maybe below the low Of where we're at right now because you're bar number nine in a 65 minute chart Of course, it could go lower over the next hour and five minutes. So I would take into the three o'clock timeframe So maybe, you know, you're sitting in front of your computer and that's how I would that's how I'd play it I hope I've been clear here And basically the most the most important thing is you really need to see or you'd love to see a close back above 44 48 there's a possibility you could see that based upon the pattern that comes from the 65 minute timeframe chart out there So mark, I hope that helps you out Thanks so much for listening in and have a terrific day Now I don't see any other requests that have come in by email And I don't know if there's anything inside the tiger's den So I'm going to go with no. Oh, I take that bag glen Is that glen? Yeah glen glen m wants to take a look at home depot hd is the ticker symbol So now if there's somebody else who requested something up then home depot inside the tiger's den If you'd be kind enough just simply to retype that in that would be great And if not, um, okay So with regard to home depot, we're just waiting for this thing to pop populate and the question was just simple question was what was the question? Hi, Steve. Can you please check home depot? Okay So home depot has a td9 count bottom and that td9 count bottom took place the week of february the 25th So that low is going to be really key that low out there is 299 29 And you're trading below the weekly profile bullish and structure So you're likely going to go at least target that level now It might get below it But if it closes back above it at week's end whether that's this week or next week Then you still have a bottom that is held on the monthly time frame chart You are going to it looks like closed below the bottom of its bullish structured monthly profile It has a td9 count any rogment to indicator top and so glen This looks like it wants to move over the longer haul back to the 246 59 level the daily time frame chart out here What do we have? We have no bottom signal other than price taking on that swing point that formed on february 24th This had volume of 8.4. You're trading into it with about 4.6 million shares right now But that bottom should be tested that low is 299 29 finish looking at this we get back to the root Sharpening your skills as an investor is like getting better at playing a musical instrument You have to practice sure, but you also need excellent instruction from experts at tfnn You'll get advice and guidance from the authority and technical market analysis And it's not just dry tedious text either tfnn airs live financial content streamed live on tfnn.com And tfnn's youtube channel with tiger tv live every market day from 8 30 a.m To 4 p.m. Eastern for free each host is an experienced trader and gives their take on the market while taking calls and questions Live from around the world from the moment the market opens until the closing bell sounds Tiger tv has eight different shows with expert hosts to help you make the right moves with your money Watch online at tfnn.com or on tfnn's youtube channel and become the investor you were born to be tfnn educating investors You might think that if you want to be successful at trading in the stock market You're going to need a crystal ball after all it's impossible to predict the future right like any endeavor in life Before you decide it's impossible get some advice from the experts You might find that it's not so impossible after all for daily market overviews that give you direction on the key indices Selective stocks and commodities subscribe to the opening call newsletter at tfnn.com The opening call newsletter is written by basil Chapman creator of the trading methodology known as the Chapman wave The Chapman wave up down sequence gives you an edge in identifying price turns finding the peaks and valleys in stock prices Get the opening call newsletter by basil Chapman 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 tfnn.com educating investors Are you looking for a secured investment which pays you on a monthly basis The tiger first mortgage program may be the program for you The best rate on a five-year cd in the country right now according to bankrate.com is paying 1 per year or $1,000 per 100,000 invested The tiger first mortgage program pays 7 per year paid monthly on secured high value buildable properties in st. 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We're taking a look at home depot and as we were before we go into break We were taking a look at how price is trading into that swing point from February 24th left-hand side of the charts if you're looking in the in the data box you can see the volume there says 8.4 million shares And today we're pulling back the volume bottom right-hand panel or about a bottom panel of that left-hand charts is 4.69 million shares So you're pulling back with light volume But ideally you'd like to see a test and rejection of that swing point And that says that you need to see a trade below 299-29 just for a second and then reject that level But the danger here is that this is going to be day number two that appears below the bottom of its bullet structured profile And what that says to us if there's just a counter trend rally where price would find resistance is between 3 11 and 3 14 So let's go back to the white background charts. Oh, well on a weekly basis What are we doing the swing point at volume of 45 million shares? You're in it right now with 21 million shares, but again, you're below all these profile Loves you can see a little bit of a trend line that it's hitting a support trend line on the weekly time frame Back to the white background charts to see if there's anything additional that we can provide With regard to home depot. So at this stage here All we've said is it's pulling back in that swing point with lighter volume And likely should test it now what you'd love to see here To confirm that a bottom is in Is not really just a test and rejection of that swing point because there's a rogment to indicator signal triggered What you'd like to see is some type of bullish reversal candle That would then confirm a rogment to indicator bottom That doesn't mean you're out of the woods You'd still need to see price close about 314 79 to get you out of those woods But at least you'd have a bottoming pattern other than just a test and rejection of a swing point out there Which is what steve would prefer to see on an intraday basis out here It's back to the 65 and the 30 minute charts that have the bottom signals The 65 has a td9 count bottom. It has a rogment to indicator bottom That says that price should go target 304 23 It looks like you're going to get a td9 count bottom on the 30 minute basis So the show is over. Wow And what you're looking for here, uh glenn is you'd like to see it close about 302 43 to suggest a further rally Folks, uh, thanks much for joining us today. Stay tuned your favorite polar bear david whites up next after david tumble brine They'll take us on home. I'll be back with you tomorrow on fantastic friday. Have a terrific thursday folks