 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 from TFNN. Welcome to the July 29th, the magical Monday edition of today's Trader's Edge show. I'm your host, Steve E. 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. And the easiest way to do that, it's to always remember that life is happening for us. Not to us. That's right. When you and I recognize that, it means we can find the gift in every set of circumstances. That life is going to toss at us. Today, you and I, we're going to go check on the circumstance of these markets. We're going to go figure out what those bulls and bears, what those buyers and sellers are communicating to you and I just passed one o'clock in the afternoon. I want you to know that I'm absolutely grateful for your presence here, but way more important than that during this next hour. I'm here to serve you. So feel free to pick up that phone. You can dial in 877-927-6648. Phone lines are open. If you can't dial in, we've got you covered. Let those fingers do the walking. Send me an email, Steve, at tfn.com, inside the subject heading. Please put radio show question and in our Tigers Denwell. Any ping will do. So let's go ahead and get this show started on magical, magnificent, marvelous Monday. Of course, this is Tiger Financial News Network. I'm Steve Rhodes. Welcome to less show right now that up 63 points. Straight out of 27, 255. S&P is off 5. NASDAQ 100. Down 38. Russell 2000. Off 10. Semi's are up 3. New York Stock Exchange off 11. Wilshire down 107. Tranny's off 9. NASDAQ composite off 6. 10th percent or 48 points to the downside. Spotball of Tilex perking up. It's up 56 pennies. Straight out of 12. 72. Gold flat out there. Silver is up 3 pennies out there. You've got to ask yourself, why are they up so slightly when those metals are just cruising in terms of pounds out there? Of course, the pound down trading out at about 1.22 and looks to be headed lower out there. But of course, let's begin by taking a look at what you want to look at. And the first request coming in from JJ. JJ wanted to take a look at Amazon. He said, hey Steve, hey Jay, with Amazon pulling back, is there a good entry point concerned about the general sell off in the market soon? So let's go take a look at Amazon. So when we look at Amazon, we like to begin take a look at any of our individual equities for the most part by just understanding where are they trading in relationship to their daily, weekly, monthly market profiles. Bottom of those boxes are going to be where buyers are at or just really where buyers are at, tops of boxes where sellers are at. So if we take a look at the daily time frame chart out here, you can see that right now price is trading below the bottom of its bullish structured daily profile, meaning the centerline, which was at night or is at 1932, is much closer in proximity to the bottom in 1955 than the top 1958. The importance of that is that Amazon should have held 19, 1955 on just your garden variety pullback. Well, as of 109 in the afternoon, this is not your garden variety pullback. Now, on Friday, you had Amazon take out a swing point with volume. The swing point was a trading session in July 18 that had volume of 3.5 million shares. Friday was 4.9 million shares to the downside. So at a minimum what you've got out here, JJ is an A to B equal CD to the downside. You're asking for an entry point. Well, we can use the A to B equal CD pattern. It is really just your progressive insurance tools at the company. I forget who it is, but in any event, it just simply provides us with a measurement tool just trying to figure out where it is. It just simply provides us with a measurement tool for price projection. So here's what you and I can see as we expand this out now. You can see that price has now made it to the 1 to 1.272 A to B equal CD price projection area. That's 1894. The next level down price projection wise is going to be 1864. Below that is 1832. Below that, 1780. I have no clue as to which of these levels price is targeting nor does anyone else out there. This is the importance of not just simply using the A to B equal CD get into the 1 to 1 level and fire it away at your trade. If you do that you're just simply going to lose a ton of working capital out there. You can't take the trade. Of course, you can do whatever you want. I'm just suggesting you don't really ever take the trade until you see some type of signal from the bulls. That would be some type of bullish reversal candle. We don't have that out there. Okay, so if price is broken below that, is there any other signals? Now, by the way, we can also look to our daily, our weekly and our monthly profiles, and we can see here on the weekly profile, is this what suggests that price is going to go target the 1853 area? That's the bottom of its weekly profile. Doesn't mean price will stop there. Just means that's where it's headed to. Going back to Stevie's other charts out here to take a look at Amazon, what do we know? Well, we know that right now today it's trading below 190663. Now, that's super important out here, Jay. And the reason that it's super important is because that's the price level where Amazon last broke out. So, closing below the bottom of its bullish structured box was one thing. Another thing is coming back and perhaps closing below its breakout area. Now, I don't know where price closes today, 190663. It's always possible that that level will hold. If it doesn't hold, that says we've got lower prices ticking at us, and that would give us a price projection of about 1759. I'm not saying that it's going to head there. I'm telling you, that's the next level of support or previously, prior to this breakout level, that's where price broke out previously. Kind of tough to say that, but 1759 becomes a target. You'd still use the A to B equal CD pattern from a price projection standpoint, just simply because that could create a Gartley buy pattern out there. So, where is the next entry point? We don't know. We don't know. We just know that you've broken through swing points, your trading below levels of support, and we have to wait to see when that next bullish reversal candle forms out here. Now, what we can say about Amazon, and this is taking a look at the weekly time frame chart, there wasn't really a topping signal on a weekly basis out here, but what there was was price got up to where it had broken down. This was behaving exactly the way in reverse that Amazon should have been behaving on this daily chart on the way down, where price should hold that breakout level. The breakdown level was at 2033.19. Price got right up to that level, that was the week of July 12th, and has proceeded lower. It's possible, JJ, that what Amazon is doing is trading within a consolidation between where it broke down 2033.19 and where it broke out on a weekly time frame, and that would be 1586.57. So, we're just simply going to have to continue to watch how this trades before we can make any type of call for where the next potential buy point is, and I hope that helps you out. No other questions. So, give us a call at 877-927-6648 or send me an e-mail Steve at tf9.com. Make a series of questions, and that is where is Stevie's red line or green line on the four indices please. So, Jay, are you referring to the cash indices? I'm going to assume at this stage you are. And so, we'll go take a look at it. And if you're not, then just tell me what it was that you were referring to. So, on the four indices out here, we'll begin by taking a look at the Dow. If we take a look at the, well, you just have to actually pull the chart over in order to show that. I'll do that before we get to this breakout here. Stevie's green line which the Dow is trading below 27363 suggests more of a retracement. Be right back. If you're not currently using the Taz Profile Scanner when looking at setting up your trading opportunities, then your arsenal is short a mighty weapon. The Taz 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. 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Hear all of the TFN shows, plus see all of the charts they happen live and have access to archives of all of those charts. You can test drive the Tiger's Den absolutely free for 30 days and greatly enrich your knowledge of these markets and how to make your money work for you. Details on the Tiger's Den are on the front page of TFNN.com TFNN has launched our brand new website. You can still visit us at the same TFNN.com URL but when you do you'll see a new and improved homepage with a much simpler navigation whether you're watching Tiger TV live in high definition or just 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 Welcome back folks. Dow's up 71 S&P is back four points. Let's go back to Stevie's Oscillator on ChangeLine. It'll be either green or red. I believe they're all going to be green out here as we take a look at the daily indices out here. So we gave you the number for the Dow. In the case of the S&P 500 where it's priced trading it's really trading right into it as we speak. The exact number on that is going to be as far as where we're trading days 30-23 we're trading at 30-22-17 out here. Now what you're going to want to watch with regard to the S&P is the end of day close out here. No bearish reversal signal really just an inside day we're trading with inside the body of Friday's candle session but we do know that price is moving higher doing less relative energy always the potential for a top but we need to have a bearish reversal signal form in order for that to happen. If we take a look at the NDX100 the same is the case with the NDX100 price moving higher doing less relative energy right now it has produced a bearish reversal candle but I don't know what it's going to be at 4pm if at 4pm it's similar to this then you have a signal that says that the NDX100 has topped Stevie's green line is at 7,850 just called 7,008 or 7,009 right now that's where that is I'm sorry 7,009 7,998 7,999 Agent 99 7,999 is Stevie's green line out there but watch the candle formation today now if you do get a bearish reversal signal today inside the NDX100 and follow through tomorrow this would say that price would pull back to 7,735 out there I don't know if that's an omen for with regard to what how Apple is going to perform in the after hours tomorrow when they release numbers or not but regardless just watch the NDX100 today if we take a look at the Russell 2000 what it did earlier today this morning Jay was price pulled back and tested its green line level that's going to be at a price point to 1566 out there really just trading sideways when we take a look at the industry itself so no other information other than that when we take a look at the Russell 2000 so there you go as Gus and my big fat Greek wedding would say with regard to Stevie's green lines and the four primary cash indices out there let's go to our next question this comes in from Justin Justin writes in Steve can you please analyze silver and let us know your thoughts on which direction it might be headed so just an excellent question out there how are we going to answer that question I guess a couple different ways but really what I'll start with is what I think may be the most pertinent thing for us to look at before we actually go look at the charts we'll do that too when I say the charts we're actually going to look at a chart but perhaps what is the more important chart when we take a look at silver that's taking a look at its horizontal trading range levels out here and where you see prices trading right now it's at we're trading at 1644 and at 1644 I don't know how this works I just know that it does work that we have seen or silver has seen 58 closes on a weekly basis opens or closes at that level that is the largest contingent of opens or closes in the case of silver going back to 2009 so what I can share with you Justin is neither of us you me anybody else really know which way prices headed to because it's really sitting here at a resistance area it would not surprise me to see silver pull back from here but if silver on a weekly basis so we're talking about Friday can close above 1645 then this would say okay the next level could be 1817 likewise silver closes below this level it's now three weeks in a row trying to bust through this area we're not really interested in the wick of the candle we're only interested in the body of the candle now we're interested in the wick to let us know where the extreme emotion took price up to but then it's really going to be about the body of the candle so this is the next real key level out here 1645 you're not going to get that anywhere else other than here at the Traders Ed Show to my knowledge out there so 1645 a real key a real key area for silver let's go take a look at the other charts see what they say out here if we take a look at the daily time frame chart use Stevie's other tools out here here's what you know silver went ahead and topped out with a TD setup nine count that can often be a topping pattern prices pulled back you get your bearish reversal signal it was also the completion of a 1 to 1.272 A to B equal CD remember we were taking a look at and talking about Amazon earlier out there we said hey we won't know if Amazon has bottomed until we see some type of bullish reversal candle if we take a look at this is the exact opposite this is how a market confirms an A to B equal CD pattern it did that three days ago that's silver and this would suggest that is a sell the deep point now where's price going to pull back to Jay and the Tigers then would say well the first place is going to pull back to is Stevie's green line that's at about 1628 also happens to match the center of its box out there below that where's it going to pull back to $16 if price gets below that it tells us about a change in trend on this A to B equal CD to the upside and price will pull back to 1507 so if you're asking me what's the next direction out here this daily so the weekly chart says hey you're at resistance the week the daily chart says you've just completed an A to B equal CD and it's really a when I say completed it's a Gartley sell pattern out here in the case of silver if we take a look at the longer term trend of silver out here but to confirm that it is a real significant top out here you've got to see a close below $16 and a penny so we've taken look at the daily we've taken a look at the weekly out here if we look at the monthly which is going to close in just a couple of days out here you can see the price is struggling at a resistance level as well the last time this bear sash candle a bearish reversal candle at this area took place was the month of looks like February back in 2019 is that the case you have February 2019 that high out there 1646 so we're really up to 1644 4546 level is really key to answering your next question Justin but as we speak right now I guess here's what we say we can see resistance on the monthly we see resistance on the weekly and we see a topping pattern on the daily it just simply means be able to see that the bear sash candle now do I think that silver has formed a nice bottom I do I do that doesn't mean that I can't pull back it doesn't mean it won't target 1477 to the downside the reason I say that is if we take a look at a quarterly time frame chart get quarterly steve just to introduce this you're seeing it here first time with your eyes you can see that price formed a bottom of the TD set up nine count did on bar number eight price was also moving lower doing less relative so it does look positive hey if silver takes out that resistance levels that we were taking look at if it negates the A to B equal CD to the upside out here when I say negated meaning the cell signal that it gave a couple of days ago longer term prices headed for the 1970 level that's where price last broke down in the case of silver on a quarterly basis so Justin I hope that helps you out as best as I possibly can I gave you my best out there I say just be careful if you are in the silver trade just simply go ahead and adjust your stops and watch those profile levels that we took a look at let's go to our next question next question coming in from a hot dog out here hot dog says hey steve hey HD we call you HDTV instead that sounds better a while ago I asked you to take a look at Nokia alright so you did that let's go ahead and put Nokia up on the chart out here let me get it on my other system let's go ahead and read the rest of the question says it looks like it made quite a move out here there that was a heck of a gap to the upside just a few days ago would you please give me your thoughts on it now for the long term so for the long term out here what we would do HD is we would take a look at the weekly in the monthly chart we take a look at the monthly chart now the signal is it prices right up at resistance on a monthly basis it's centerline at 570 562 we get back from this break let's come back let's take a look at the daily weekly see if there's anything else that we can gleam from the monthly chart as we take a look at Nokia ticker symbol N okay Steve Rhodes with Tia Pinnock we'll be right back 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 what most wealth managers tell you can't be 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the front page of tfnn.com welcome back folks we're taking a look at Nokia we were discussing the monthly time frame chart out there and one of the other things that I noticed well let me kind of expand this out a little bit here be easier to see actually let me turn off some of the tools so HD from a longer term standpoint that's what you were asking of me about your thoughts on it now for a for a long okay well let me just take a look at let me just take a look at it like this here here we just take a look at what Nokia is doing and you're right really in the middle of its consolidation that's what the rectangular yellow shape shows so it shows that Nokia is in a consolidation between about four sixty and six sixty so you've got about a two dollar consolidation now when we turn those profile levels back on as I said before we went to break price had gotten right up to its point of control where both buyers and sellers are so you really need to see it move about five seventy to suggest that you're going to get the six seventy ish level out there that's at least what the monthly time frame chart is communicating to me as I take a look at it the weekly looks very positive last week at that big big wide-ranging bar breaking about five forty six but when we look to the monthly chart we can see where price stopped we understand the reasons why so it tells you really got to get above last week's highs out there in order to continue to break out as we look at the daily time frame chart I'll just pull over Stevie's other chart and here's what we do know is at the breakdown level where price were in where Nokia last most recently broke down was at five dollars eighty four cents so until it gets over you can't we can do whatever you want I could not recommend to you to buy something close to resistance not knowing whether we'll break above that level or not out here where is the next best price for a long you at least have to wait for price to pull back to five thirty three that would be Stevie's green line out there and it would you really have to see how is it pulling back into that area into that level because that wide-ranging bar which really is a gap as we look at it so in the case of Nokia you're up towards resistance five eighty four we looked at that on the monthly time frame I think you still have to sit tight there so thanks I hope that that helps you out with regard to Nokia let's see there's no other questions in the den let me see if we've got any other questions that have come in by email steve at tf9.com just put radio show question inside the inside the subject heading we do have one this one coming in from Sean M Sean wants to take a look at FireEye F-E-Y-E and Sean says you own two positions average price around fourteen ninety three they report after tomorrow's close so just looking for some type of signal out here you've got to trade at sixteen oh three so you've got a nice profit in here today price is trading above the top of its daily profile that's at fifteen ninety four so ideally you'd like to see price day above that the weekly says this could run into resistance at the top of the weekly level that sixteen thirty five and as we look at the monthly time frame if this has really bullish news after the earnings report says that price could be headed up to eighteen oh five that is the top of its monthly profile not so for other signals out here by going to steve's other charts if we take a look at FireEye we just simply do a wave count from its roads momentum indicator bottom you're only in wave number five but prices running up towards resistance here that's where it last broke down sixteen dollars and twenty nine cents doesn't say sell just as at your resistance level and above that sixteen seventy five out here you've got a rising price oscillator above zero looks good but watch sixteen twenty nine sixteen seventy five after that for some resistance now maybe you're going to get an A to B equal CDT let's come back to my other daily chart where it's much easier to see the volume metrics what I'm referring to is the B point of it potentially to be equal CDT upside was on july 11 or july 11 and that was two point six million shares when it was taken out on Friday it was two point six million shares so you don't you have conviction but not like a ton of conviction now volume today is good two point four million shares nonetheless you're going to have resistance at those breakdown levels but if price can clear through that the A to B equal CD price projection to the upside out here would give you a one to one reading right around seventeen twenty four seventeen twenty four on the daily basis clears all of those resistance zones I'm unwilling to make that call for you at the moment we look at the weekly time frame chart out here for FireEye F-E-Y-E it formed its bottom with that TD set up nine count pattern it did that as price was breaking back pulling back to its breakout area that was fourteen twenty five we can see how that level held we just look at the body of the candle out here this is sixteen eighty six would be its breakdown error maybe price here is trading in between support and resistance or breakout support and breakdown resistance that's fourteen and a quarter to sixteen eighty six we take a look at FireEye otherwise nothing here on the weekly chart looks negative or bad if I look at the monthly chart for you for FireEye what does this tell us tells me that long ago back in February of twenty seventeen which has really just been trading sideways for the most part this not a whole lot of interesting stuff out here in FireEye says in order for it to get interesting out here you need to see a close above eighteen forty two for two months in a row out here so that becomes your resistance level nothing bearish here but just simply fairly muted price move when we take a look at FireEye especially when we opened up that monthly time frame chart so best of luck with your trade you've done well so far Sean I don't see reasons to get out always see reasons to make sure you keep a stop in place out here okay no other questions we've got a couple minutes to go so let's just go take a look at the markets overall see what they're doing see what we need to watch and pay attention to of course I want to hear from you eight seven seven nine two seven six six four eight what we do have out here that you might be interested in our new market profiles a new market profile forming inside the NQ it just formed about an hour ago I don't know whether it will hold or not meaning I'm using Stevie's advanced Doppler system to identify those next levels of support or resistance out here tomorrow perhaps we'll know if we get two days in a row likely it sticks out here here what this tells us is resistance is eighty fifty one seventy five in support is seventy eight eighty six there are no other new market profiles here's what we know we know that the Dow equity futures contract that's panel number three from my left hand side or panel number two from my right hand side whichever side it is you like to count from we can see that prices bounced up to its center the center of its box that's under the box twenty seven two forty nine buyers and sellers both there in order for the Dow to make its way to the top of that profile twenty seven three ninety seven we need to see a close above twenty seven two forty nine it's not there yet prices hit resistance if you look at the many that is panel number one on the left that shows that prices hitting right at resistance which is thirteen twenty thirty twenty three fifty we're trading at thirty twenty three even out there so you're at resistance you're at resistance in the Russell two thousand it actually has tagged it are very close to tagging it the last four trading sessions so that's a stiff level to get through fifteen eighty five it's called fifteen eighty six is the price is the price level is is the area where price would need to close above in order to get its bullish mojo going so you're trading within the box in the Q within the box inside the Dow within the box in the Russell two thousand you just kind of moving sideways out here so to speak no real signals with regards certainly no breakdowns nothing is trading below the bottom of a profile box as we speak at one thirty eight in the afternoon and that's what the markets are doing they're doing much much more than that we're about to go to a hard break with the Dow up sixty one S&P's one hundred down thirty four points out there is Steve Rhodes with TFNN we'll 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 twenty eighteen set up tax free zones across the country where you can build and hold for ten years and pay no 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to our next question coming in here from Brenton Martinez California Brenton writes in chat can we take a look at natural gas anything on a anything of any sort that might give us a clue as to an impending bottom out here and as he says no reversal candle just yet wondering about the counts relative strength so forth so unfortunately I've got a Brent I've got a problem now with my other tools out here and so I can't pull that up for you as much as I would like to when I get that working I'll respond to your email and I get you that information what we can do is just simply right now let's use what tools we do have available to us and here we're taking a look at this is September contract we're looking at daily, weekly, monthly and quarterly profile levels it's starting from left to right and so forth and we can see that price is trading below all of the all the bottom of those profile levels so no support on any of those time frames price yes is testing the low out here from June 20 2019 let me expand that out here and so prices testing that level that level by the way is a 2.1 1.5 we're trading at 2.1 1.3 as we speak right now you know whether this is going to hold or not I don't know if price gets below that where's it head to you know I would hesitate to draw in this A to B equal CD to the downside if I did here's what it looks like I can draw it in but I don't want to make that as the price prognostication out here that would take it to about a buck 85 it's not that that's not feasible and if you get below the low from June 20 out there at 2.1 1.5 you have to consider that as one of the possibilities if I go look at the intraday time frames out here intraday time frames for natural gas a 30 minute time frame you're below the bottom it's bullish structured profile out there the bottom of that was a 2.1 2.6 so that's not good if you look at the 120 minute time frame you're below that 5 hour time frame below that so it's retesting a prior low I don't have a volume metric that's going to be because the contract just rolled over that's going to be worthwhile for me to provide you with that information at this stage and you can see on the daily there is I suppose another A to B equal CD pattern that could be forming out here that would look like this it's a bit smaller the A point being looks like the trading day of July 10th the B point being July 22nd and the C point being July 23rd okay so why isn't my system working that's there we go I use a different the prior day that's $2.04 right around there $2.04 so Brent I think what I'm going to have to do is just simply in order to answer your questions again you know here's my other chart you can see basically zeros out here so even though it shows up on the left hand corner it did that when I went for natural gas so my apology for that but I don't see a bottom as we speak just yet inside of natural gas only thing it's testing a prior low that can be a bottom but no signals anywhere short term or otherwise really short term if we go from a 30 minute to a 60 minute what you'd be looking for here some type of break of the top of a box instead what we've seen on the 30 minute base of the top of that 30 minute profile was 2.125 and that held this resistance on a bounce up into that level at about 1230 today so you can see that resistance continues to be sold inside of natural gas even take a look at the short term timeframes out there so thanks for appreciated and I'll get to that information as soon as I can okie dokie so we got about four minutes out here no other requests that I see on the phone lines or on the email lines out there so let's go take a look at we looked at the daily profile for the NQ and well the other four of the other three equity futures contracts we take a look at the New York Stock Exchange what are we doing right now just simply consolidating you've got price moving up and back and forth below up and below the zero line of his advanced decline oscillator that's the New York Stock Exchange we're looking at out here but it does have a series of declining tops that's the advanced client oscillator that's not a good thing it will not be a good thing if in combination with that and trading below zero you get the spot volatility to trade above and close above the 50 day exponential moving average currently priced at 1427 that's not the case that we have right now so we just have this chunky consolidation but when the consolidation is over if the advanced decline oscillator continues to have this declining tops pattern out here it should result in a move lower and if that spot volatility index is above the 50 day exponential moving average it should be a significant move lower in the markets again the 50 day exponential moving average for the spot volatility index is at 1427 we're trading at 1277 right now I mentioned gold out here I always like to take different view points if I give you the same view point you're not really want to want to listen to me I suppose out here and where some might say hey look how strong gold is because you've got the US dollar index up what seven ticks out here no big deal trade out at 9783 but gold's not getting smoked why is gold not getting smoked well the answer to this question is lying right here on the charts it's not getting smoked because those folks over in London in Great Britain are breaking out they're saying I do not want to hold great British pounds I'd rather hold gold you can see out here that gold is moving my charts taken out the swing point out here from July 19 so traders of gold inside US dollars are seeing gold break out above prior highs inside of pounds why aren't you seeing gold right now it's always about from a trading perspective what is the product you're trading doing in your currency now we don't have those same traders in euros doing much it's flat just as is flat in dollars slightly higher in terms of yen but here's your buyers out here gold is being supported not by buyers in the US gold right now is being supported not by buyers in pounds out there and in fact because the weakness inside the pounds that's the same thing that's going out when we take a look at pounds I should say the US Treasury the 30 year Treasury inside of pounds just Kariman to the upside but we don't have that same set of signals in dollars in euros yes in euros the answer is yes a new high today taken out prior highs buyers of our Treasury bills in pounds in yen and in sterling and in dollars slightly higher but it's got a bit of a descending trend line question is what about gold in gold in won out here we'll go take a look see if I can pull that chart up here pretty quickly gold gold gold gold price should be saying gold priced in won and I think we go with this page right here to see where that is trading at if we take a look at gold one we're going to take a look at its horizontal trading range levels out here and you can see that prices trading right into resistance that's 9796 out here that is gold an ounce of gold priced in Chinese won up at resistance how about those folks in Hong Kong those protesters in Hong Kong holy shnikes there's problems going on all across the globe yep and where people like to park their assets the problems are going on across the globe is right here in the good old US of A Steve Rhodes with TFNM we'll be right back since 1984 Basil Chapman has been using the Chapman wave methodology to advise traders of his expert market opinion well 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 that computer software which included the standard market technical indicators enhanced the degree of accuracy and 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 TFNM.com cancel it anytime during that trial and pay absolutely nothing get your two week free trial to Basil's newsletter the opening call today by visiting TFNM.com Tom O'Brien published the 900th issue of his weekly newsletter the gold report on July 22nd it's amazing he started the gold report more than 17 years ago when gold was trading at only $252 to celebrate we're having a special tiger dollar sale right now you can spend only $495 and we'll give you $200 extra tiger dollars so you'll end up with $695 tiger dollars which is the yearly price of the gold report tiger dollars can be used for any TFNM newsletter or service and this offer is open to new and current subscribers with gold making six year highs and gold mining equities trading higher this is a great time to sign up for the gold report at a dramatic savings for all the details visit the front page of TFNM.com this deal ends July 31st so don't miss out get your tiger dollars and sign up today for the gold report 900th issue sale due to the cost better sleep stress reduction and the need to detox Nicar 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 baddie and amino acids in an easy to use liquid form primal edge is powered by They've been called miracle molecules because, like sunlight, air and water, life cannot exist without them. That's right Paige, 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 Paige of Living a Primal Lifestyle. Buy it today for just $89. 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. Inside our Tigers Den, one of our Tigers, John, pointed out that the copy has completed, well, I won't say completed. It's completed a one-to-one A to B equal CD, so it has done that. We can see that with our A point out here that was on July 5th. The B point was the low on July 15th. We're using that same exact candle as both the low and the high in order to generate that A to B equal CD to the downside. Now, I know that you can't see, you can't tell necessarily, here, I'll do this. I'll change this to candles out here. So now we can see candles. And what we don't have, what it's missing at that one-to-one target level, John, is some type of bullish reversal signal, some type of bullish reversal candle. And not until we see that will we be able to say that this is a Gertley buy pattern or buy the D point. If price does not generate a bullish reversal candle, then Coffee Futures, this is September contract we're looking at, should make its way and approach the next level. That's the one-to-one point two-seven-two A to B equal CD pattern. And that'll take you into about the 9640-ish, 9640-type range out there. So on the A to B equal CD patterns, the one thing that I've learned, if I've learned anything, and I've really learned a bunch, thank goodness for technical analysis, is that when we take a look at our A to B equal CD tool, it really needs to be combined with Steve Nissen's candlesticks out there. And understanding which bullish and bearish reversal candles are the ones to be paying attention to is really key and critical. So that's what I see right now. It's possible it could generate a bullish and golfing candle, but we'll need to take a look at that perhaps tomorrow. So folks, stay tuned. You've got another great hour of programming coming up. You've got my favorite polar bear, your favorite polar bear, the entire world's favorite polar bear. And that's David White. And after that, the Tom O'Brien show from three to five. I'm Steve Rhodes, and I'll be back with you tomorrow, tomorrow morning, 9 a.m. I'm going to fill in for Larry Pesavento while he's away, so I'll do 9 to 10. It'll be replayed from 1 to 2. So join me live tomorrow 9 o'clock. Have a terrific Monday, and we'll see you on, well, I guess, terrific Tuesday. Thanks, folks.