 The following is a presentation of TFNN The Trader's Edge with Steve Rhodes October 3 at 1-877-927-6648 or internationally at 727-873-7618 The Trader's Edge Now Steve Rhodes Good afternoon folks. Welcome to the October 5th, the terrific Tuesday edition of today's Trader's Edge show I'm your host D.B. Perseverance Rhodes who absolutely knows that each of us should always be pioneers of our future versus prisoners of our past. Hope everyone out there is having a great day Hey, let's make sure we have an extraordinary one. The easiest way to do that is 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 Well, 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 the bulls and bears with those buyers and sellers are communicating To you and I just passed one o'clock in the afternoon. I do want you to know I'm absolutely grateful for your presence here, but more important than that. That's this during this next 60 minutes I'm here to serve you so feel free to pick up that phone You can dial on it at 877-927-6648 if can't tell and we've got you covered there, too Send me an email send it early send it to Steve at tfnn.com and inside the subject heading Please put radio show question, of course, and our Tigers then any 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 less show right now We've got all the U.S. Indices trading north the Dow is up 415 the S&P 58 The Aztec 100 255 Brussels up 8 Summize up 64 5 Trends up to 48 New York Stock Exchange up 160 Gold is back 7 bucks silver down 2 pennies lights We could up a buck 38 the leaders to the upside dollar wise alphabet or Google up 65 Amazon is up 56 a poll layup 40 micro strategy 29 Netflix up 27 to the downside Equinix off 23 bucks marata therapeutics down 11 carvana off 8 chart industries down 6 and Novavax is off 6 It's about 4% to the downside the first question that we've got inside the Tigers den is from John and John wants to take a look at the TLT and the 30 year Treasury Future contract That's what we're really going to go to is the 30 year Treasury contact contract So let me get over to that where we start that start start right here. Yeah, we're gonna start here Because this will answer John's question specifically, which is With an eye to keep support levels So would you kindly do a full review of the 30 year Treasury with an eye to keep support levels and lower targets of these those levels break Many things absolutely. So John what I have in the upper left hand corner is really the Chart that will answer that question for us. So I have the 30 year Treasury it was in a consolidation pattern and We had a break of that consolidation pattern a few days ago And once you break a consolidation That suggests that you have a measured move equal to or greater than a consolidation now The consolidation break really took place. I'd say on the trading day of September 27th on the trading day of September I'm sorry except that on the trading day of September 30th a brand new bullet structured profile form We know how important those profiles are price right now is sitting on that support level that support levels 15908 So John if there's a close below a bullet structured profile 15909 that's going to be a suggestion that price will go ahead and make that price target that price target It's in the 156 level now if we take a look at the weekly time frame We're only two days into not even a full you know day and a half into the week But we can't see the prices trading below the bottom of that weekly profile 160 13 The last level of profile support that would be out here is coming from the monthly time frame and that's up at the 159 12 level so you got 159 10 again a close below that Pretty much a good indication that price should make its way back into that, you know around the 156 18 area well, we're not going to try to get this right to the tee But that would be your indication of a move lower now you might wait until you get a close below the swing points of either September 29th 158 22 Yeah, 158 22 would be doble a geek confirmation and possibly set up an A to B equal CD to downside So that's what I see when we take a look at the 30-year Treasury I don't I'm looking at my other charts on my other screen out here the eight panel set of charts just to see if there's anything else Worth while to share with you and I don't see anything So hope that helps y'all with regard to the 30-year Treasury the key level of support that it's trading into right now And if it breaks that level where prices likely headed to so thanks so much for the question Let's go back and take a look at the equity market see what's going on here And as we get back to these charts give me a moment to get there Let's take a look at our Taz daily profiles So here there is a brand new profile that is attempting to form inside the ES mini I'm gonna make that easier for you to see as I turn price off Just give me a moment to get that done now like yesterday there was a new profile That was attempting to form it did not actually take hold and now we've got a new profile that is also attempting to form So that bottom this is a bullish structured profile at the moment as 111 in the afternoon the bottom of that profiles at 4281 the center 4344 in the top is that 4408 typically when you close above the top of a bullish structured profile price will make a run for the top of that Profile in this case here that would be at 4408 So we'll turn price back on we are trading just above the center of that profile 4344 So that would be a level to watch now recall or remember it can't recall But remember this profile will not confirm until 601 this evening But let's use the information that we have available to us right now in the case of the NQ In order to generate a bullish reversal candle that would be a bull sash candle price needs to close above yesterday's open yesterday's open is Is 14785 that's a number to put down on a pad of paper why because if you get that bull sash candle Then you will see all four equity future contracts have valid bottoming patterns out there What happens if price doesn't close above well price doesn't close above it We don't have that signal inside of the NQ But then here's where you have the fly in the financial ointment so to speak and that fly is Give me a moment here to get to the flies is going to be this chart because whereas we do not have a confirmed Gartley by pattern inside the NQ right now. We do have that pattern inside of the NDX 100 And so it looks like this here's the a to b point give me a second I'll just kind of draw that in with a line tool out here. There's your a to b Almost got it down there. It's really close enough for our work right now And I'm just going to take this line move this to the C point out there So there we go You can see that right now You've got the completed one to one a to b equal CD pattern and if you get a bullish reversal candle Which we have right now that's going to signal a Gartley by pattern in the NDX 100 now We can see that that oscillator and change line change colors about four or five trading sessions ago So if we get that bullish reversal candle today That would then at least suggest that price would make its way up to that level that level right now It's printed out of 14 962 that level will change slightly by a few bucks, but that becomes the range out there So the the more ideal setup would be a confirmation in the futures contract if we don't what does that mean? I'm not sure to tell you the truth I have to go up and have to go back and do a bunch of studying out there And see if we can figure that out in the meantime if we take a look at the Dow equity future contract It did generate that new profile yesterday prices above the bottom of profile 34 003 next target here for the Dow equity future contract 34 468 the Russell 2000 also has a new profile that formed yesterday 2207 in support 2266 is the resistance level Steve Rhodes with TF and I would love to hear from you give us a call at 877 927 6 6 400 send me an email steve at tfnn.com 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? That's right Information having all the information gives us the perspective we need to place the right trades at the right time The TAS profile scanner is the premier market profile base scanner Powered by its acclaimed TAS proprietary algorithms this feature rich scanner instantly filters over 2,500 plus global financial markets such as stocks ETFs commodities futures and forex This powerful suite of tools Leverages instant trade filtering and strategy formulation to show you emerging trades Before they happen for a limited time You can save $100 off your first month by using the promo code upgrade and you still get a 30-day money-back guarantee So you have nothing to risk Level the playing field with the TAS profile scanner which you can find under the services tab at TFNN.com Sign up today 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 Call now toll-free at 1-877-927-6648 internationally at 727-873-7618 Good back folks. We got a question that came in from David H David right since I say Steve Do you think Expedia will hit the high of 179 59 made on June 1st by this Friday? Hmm. Well, I'm not really that great with regard to being able to predict where price will go in the next three days out Here, but let's go take a look at the tool Let's go take a look at what Expedia is communicating to you and I at this stage here So as we take a look at profile levels out here, there's nothing to suggest That price won't be able to move higher because price above the top of the daily weekly and monthly profile So those charts are not really going to do us a whole heck of a lot of good. We need to go take a look at Stevie's white background chart So let's go take a look at the daily timeframe first. What do we see here? Well, what we see here David is that it's possible that today is going to generate a bearish reversal candle That will confirm a roads went to Mindicator top. We also see Let the oscillator and change line change colors It looks like maybe about a week and a half ago or so it went from red to green And if you get this confirmed top here today, that's going to suggest at least price moves back to 165 41 And I would say it would likely move lower before it moves higher from a resistance standpoint on the daily basis 178 33 as a TD 9 at breakdown level every time price has gotten up into that level It has turned back. So You're gonna ask you're asking me about 179 59 and I'm gonna say no not likely Out here first you're gonna look at price getting back to the 165 41 level and then if price can bounce off of that Then that could say okay. I'm gonna go run up to that 178 area. That's coming from the daily chart Let's go look at a weekly chart out here Well the weekly chart shows that the real significant resistance levels 173 96 just and that's the TD 9 Breakdown area just as 140 210 was a key level of support. This is the weekly chart for expedient So it can't bust it up for this says price pulls back to the 164 57 area the weekly oscillator and change line The monthly chart has a TD 9 count topping pattern out here now price did pull back Tested support both the top of its profile as well as it's oscillator and change line So this is strong the weekly says hey the the longer term outlook Maybe not so bad the signal right now is neutral to bullish But the daily and weekly are saying I think I want to make a move lower 165 42 or so if I look at the intraday charts out here Just looking for some signal see if there's anything else that I can see to assist you the 195 says yeah be careful I could pull back to 162 58 130 minute charts is 166 98 So it looks to me out here David like a price for Expedia wants to head lower before it then decides to head higher Excuse me Let me take a swig of water must have got a fur ball While I was breathing okie-dokie. So that's it for Expedia. I thanks so much for writing in David have a great day Let's go to our next question. This one coming in from G7 Yeah, that's that's all of the G7 out there and G7 wants to take a look at the semiconductor Nick so let's go take a look at the SMH is the ETF that represents that and Right now we know that the SMH is pulled back and found support G7 at the bottom of its weekly profile That's 24803 That's gonna be a key area to watch because a close below that would then suggest that price would pull back to the bottom of its Monthly profile at 234 31. Let's go take a look at the SMH is on the daily base See if we can see any signals out here and as we open up the daily chart. What do we see? We see that in fact price is pulled back to test a key level of support It's breakout area 250 201 So that says at this stage, although I don't have any kind of a well I take that back. You're gonna get a confirmed appears that you will get appears days not over Price has to close above the open from yesterday that open from yesterday was 254 56 your 254 80 if price does close above that you will then get a bull sash candle That will confirm a buy the D point pattern out here That would also suggest that price will run up to its oscillator and change line which is red But it changed colors about three bars ago So it looks to me like the SMH is are gonna go target at 262 level if it turns down from there It was just a counter trend move when we look at the weekly time frame chart out here Nothing really to add to the picture. It did top with wave number seven and last week was a roadsman dominicator signal But prices held when I say prices held the bottom of that weekly profile at 248 oh three If I look at a quick short-term chart the 30 minute out here This confirmed a roadsman dominicator bottom prices right up at resistance, which is 254 96 It has not yet generated a TD 9 count top price needs to close above not close above price needs to spike above 255 12 if it does that during this session which ends in seven minutes or the next session that ends at two Then you'll have a TD 9 count top and that would suggest that price will likely pull back to about the 251 84 level So the SMH is Right now on the short-term time frame if it does pull back what it's gonna do It's gonna jeopardize that bull sash candle on the daily time frame So I don't know if you were trying to make some decisions about the SMH is if you were trying to take a long position I'd wait wait to see how that short-term 30-minute chart plays out and whether or not you get that bullish Reversal candle inside the daily time frame for the SMH is so hope that helps you out. Thanks so much for the request Well if you're setting up another short on the SMH's just wait for that TD 9 count to complete Inside of the 30-minute chart remember it's got a spike higher in order to generate that signal for you So no other questions at this stage here get 877-927-6648 is the number Let's take a look at now. Let's spend our time. Let's go take a look at gold silver Let's do that by Taking a look at Stevie's eight panel charts out here. So let's take a moment get over I'm just gonna find it. There we go and switch the screens here that way You'll be looking at the same thing that I am and that's gonna be our eight panel gold chart So as we take a look at it, what do we know? First just looking at the intraday charts out here to see if we've got any kind of real signals to assist us and Not really on the short-term time frame So let's take a look at the 30 minute And on the 30-minute chart try to get a gauge for where gold is likely headed to So as it makes its bottom out here It was just simply coming back and retesting a TD 9 breakout level that held Low that pattern held prices above the top of its profiles out here And so therefore if we see a move above a close above 176 190 1760 190 that should take price up to the 1770 level That's a top or that is its TD 9 breakdown resistance area If in fact a price can get above that that would be short-term bullish for Goldilocks on a daily time frame out here The key level that gold needs to close above well It's already above it the key level that it needs to hold is 1752 that is its red oscillator and changeline So gold has a confirmed Gertley by pattern It did that with the bullish engulfing candle from about four trading sessions ago And as long as price holds 1752 90 price should continue to move higher I'd use that 30-minute chart out here as that gauge again anything over 1761 will suggest a move to that 1770 area. So that's what the gold charts tell us Let's go take a look at high hose silver as we pull these over We're gonna see that we're about to come to a breakout here So we'll review this when we get back but in the case of us over We're really still waiting for in the daily time frame is a bullish reversal candle We don't have that out here. So what does that mean? Look supporters held on the weekly basis that support being the TD9 count at this stage here Silver's got some resistance at the bottom of its daily profile. That's at the 2318 area Steve Rhodes with TFN would love to hear from you. Give me a call at 877-927-6648 or go ahead Send me an email steve at tfn.com. We'll be right back Are you having fun trading the markets but having trouble finding like-minded individuals to discuss your trading and investment ideas with Become an apex predator in the trading markets and join the tiger's den trading room only at tfn.com The tiger's den is an exclusive trading room where successful traders from around the world come to exchange trades and ideas Join the den and surround yourself with the sharpest minds in the trading world Subscribers to the tiger's den are also the first to have their questions answered live on air And can privately chat with our tfn and hosts live during their shows Interact with other tigers and tigers as they share trading ideas news analysis and discuss the market action all trading day Subscribe to the tiger's den risk-free with our 30-day money back guarantee and become part of the tfn trading community Educating investors You could be making money off the stock market and if you're already making money off the stock market You could be making a lot more Check out tfn and tiger tv and get expert investing advice to give you the power to control your financial future Go to tfn.com and find the newsletter for you Whether you're into trading gold metals futures currencies or options You'll get advice and analysis to help you seriously get ahead tfn also features trading services with a 30-day money back guarantee for new subscribers As well as tfnn tiger den trading room trading software and educational webinars for all trading levels And make sure you check out tiger tv for free on tfnn.com or tfnn's youtube channel for live financial content From 8 30 a.m. To 4 p.m. Eastern on market days stop watching on the sidelines while other people get rich and become the investor You were born to be tfnn educating investors Tfnn is excited about our new software charting program the art of timing the trade charts In collaboration with tom o'brien and using his best-selling book the art of timing the trade your ultimate trading mastery system David white has programmed an outstanding piece of software that will complement any trader's methodology Using this first-of-its-kind program the art of timing the trade charts allows you to scan thousands of stocks for Fibonacci formation setups including guardleys abc's butterflies and much more the art of timing the trade charts is designed to help you When scouring the markets for stocks just beginning to form the trading patterns that many investors spend days weeks or even months Searching to find and right now we're offering licenses available at only $79 a month We are so confident that you're going to love this new charting software that will even give you a 30-day Unconditional moneyback guarantee don't miss out on this incredible new piece of software Get your copy of the art of timing the trade charts today by visiting tfnn.com This segment is brought to you by think or swim for more information Just click the think or swim banner on the front page of tfnn.com Folks, we got a request to take a look at that jp mark and jpm as a ticker symbol Right now we can see that it's trading right into resistance resistance is the top of its daily profile 136 69 is the top price right now trading out at 169 35 out there. Let me make sure I've got that correct Yeah, I do top of the box is yeah 169. I'm sorry. I take that back 169 30 is the top of the profile price straight at 169 35 So you're right in the resistance level out there. There's no resistance on the weekly Or the monthly timeframe from a profile standpoint. So let's pull over the other jp morgan charts as prices trading to that resistance level What else is it doing? Aha Yesterday was a bar number eight of a td9 count. So it's going to form a td9 count pattern today So what does that mean? What I would do if you're a long jp morgan We remember we I don't know if you remember but and I don't think I mentioned it But the weekly and the the monthly were both above their profiles I think I did say that because there was no resistance level. So your resistance is really here. There's a topping pattern Inside of jp morgan. So that says that the the high could be yesterday because that'll take out yesterday's high or it could be tomorrow Out there. So be careful now when a topping pattern exists You typically see some type of signal in the short term timeframe So we'll get to those but let's just take a quick peek at the weekly and the monthly on the weekly basis out here Everything looks pretty good. You've got a erosement to indicator signal But that needs a bearish reversal candle on a weekly basis to confirm some type of top So longer term or intermediate term looks good longer term on a weekly basis price right now is trading above the high from june of 2021 Or early in the month, but a close above 167 44 Would be a very bullish message on a monthly base for jp morgan In the short term a 30 minute timeframe chart. I don't really have much in the way of signal So it's not saying that the top is necessarily here at the moment on a 65 minute chart We didn't have erosement to indicator top, but if price takes out that high that high would be 170 44 That would be a bullish outcome 130 minute chart that has a erosement to indicator top as well 195 does not So with regard to jp morgan I would be just simply cautious at this stage or I should have me add to a position would I short it Not not not at this stage here because we haven't seen any key breaks of support out here So but it does look like it's getting ready to set up a short term top which may have formed yesterday Or it could be tomorrow out there. I hope that helps you out. I think that is george in tampa Thanks so much for the request We had another request inside the tiger's den to take a look at fang And as we take a look at fang out here this formed a td9 count top yesterday today is a higher high We know that that top can take place on the bar following bar number nine if it does We don't know that it will or not But if it does that that's going to then it suggests a move back to the top of its profile Which is at 97 43 If price get below that then it would be the oscillator and change line currently printed in 94 95 But it'll be lower than that if in fact price moves downward Let's look at a weekly time frame chart out here. See if there's any other signals for fang Let's populate it and as we do not no signals there. It looks pretty good So just the daily and on the 30 minute chart out here Whoops, that's the weekly on the 30 minute chart. You do have the rogement dominicator pattern Uh No td9. Okay. So the key level of support that that would need to be broken To would be 97 71 if prices pulls back to that level inside the fang That is your buy the dip opportunity So to speak that's a 30 minute td9 count breakout level If you do get too consecutive closes below 10349 on the 30 minute basis That would then signal that move back to the 97 71 level. So I know that you sold half of your position So a good job there. I don't have anything here to suggest that you sell the other half at this stage And if price were to close above today's high or whatever the high is today You know that that's going to be a strong momentum Move to the upside at least that would be its message. So without a real good short-term signal out here I like what you did I would just hang with that half the other half right now and let's see how tomorrow plays out Thanks so much for the request. I have one other request which is to take a look at natural gas now Let me try to get natural gas going on my white background charts out here I think it is november. Yeah that we're trading and this is from Michael and Michael wanted to take a look at let me see here the question Just sold your boil at 95. Where does natural gas look like it's heading? And so let's go take let me pull up the natural gas contracts Give me a moment here to Find it let's recruit natural gas Okay, I guess I guess I just only have these out here. So we take a look at natural gas. Well Uh this actually a price closes Today and it is the november contract that is the uh Is the active contract if price closes above the high from september 28th, Michael Now with six dollars and 31 cents and you're at 6 34 right now That will be bullish because that was your Uh three river evening star pattern that had confirmed a Sell the deep point might even been a road's momentum indicator signal. Let me see out here Yeah, it was even a road's momentum indicator signal. So let's pull over my white background charts And it might give us a better view of what's going on inside of natural gas So here you can see when I say here you can see I'm referring to september 28th Price gets up there. I get wave number seven that can always be a topping signal You can see it generate that roads momentum indicator Triggered and triggered a roads momentum indicator signal But that needs a bearish reversal candle, which you actually got on september 29th But that oscillator and change line is green And you can see how price has held the top of that profile it has held that oscillator and change line And that's really a very bullish message nonetheless If price does not close above that 6 31 6.318 level price will just simply have held resistance So your question is Where does natural gas look like it's hitting it all depends on whether or not price takes out that resistance level Let's look at the weekly chart out here, although Okay, the weekly chart very bullish out here. No, no topping signal Bar number seven of a td9 count pattern out here. Let's look at a 30 minute chart out here What do I have really not much? I'm just going to go through this 30 60 day No topping signal on 20 no topping signal to 40 as triggered a roads momentum indicator signal But needs a bearish reversal candle in the five hour the same thing. So michael at this stage here Uh, nothing more to add to it. Just watch that high from the trading session of september to 28th I believe what september 26 dollars and 30. Was that there? Oh, let me give you let me make sure I give you the right signal sometimes sometimes it's out there. So Yeah 6.318 michael that's level to watch out there inside of natural gas So I hope that that helps you out. I know you want to know where it's going We have to wait quite frankly for the market to tell us that when prices right up to a resistance area So looking here to see if there's any other request looks like there's one more that has come in by via email And this one is also from david. No, this is from david h and tom ball texas Can you give me the trading range boundaries for exxon mobile? Should I be concerned with the bearish engulfing candle forming on the daily chart? Great question. We're about to go to the breakout here But let's get the exxon mobile if we can fire it up on our three panel background three panel charts out here Just see what other kind of support or resistance it might be trading into as we take a look at that We'll see that prices above the top of its daily profile above the top of its weekly and the next upside target is 6492 That is the top of the monthly profile. So we get back from this breakout here Let's go take a look at today's session out there not a ball not a bearish engulfing candle just yet Because price would need to close below the open of yesterday and that open is 6132 right now. You're trading at 6141. 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 727-329-83222 call us today The technology around us is changing every day with so much happening that can seem impossible to keep up with all the information David white's investment newsletter the technology insider is designed to give you all the information you need to understand the technology That shapes today's markets and tomorrow's future David white has made his living staying on the cutting edge of technology His weekly newsletter will give you specific recommendations for value tech stocks As well as entry prices target prices and stops to set for each trade Dave delivers his weekly newsletters every friday with updates throughout the week You can get the technology insider at tfnn.com for only 37 and 50 cents Sign up for david's newsletter the technology insider and get an inside look at everything the technology sector has to offer Try it risk-free today with our 30 day money back guarantee tfnn educating investors Biotech is booming but for how long? 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That's tfnn.com then hit watch tiger tv Welcome back folks. We'll take a look at xon mobile Which right now from a profile standpoint would suggest to move up to 64 92 But we're going to go look at the white background chart See what other signals we have out here and on a daily time frame today is going to become bar number nine Of a td nine count. We know that can absolutely be a topping signal course the higher high Could take place tomorrow We'll take a look at the oscillator and change line change colors about six seven trading sessions ago So with the topping signal that's in place here We should anticipate that price that line will catch up to each other So that's what the daily chart tells us Why so as prices forming a daily td nine count top the weekly chart ran right into resistance at its td nine breakdown level That's at 62 76 now the week is not over and the price closes about 62 76 david The weekly chart will be very bullish out there, but that's not what we're looking at at the moment We can understand why the daily chart did what it did and and I know that would be a question I would have had because I'd say hey, wait a minute here. Why is xon mobile? Pulling back just a tad today when lights we crude is up to the new high Out here. No, and I say noon. Hi. I'm not talking about new all-time. I just knew high inside the pattern But if I pull over lights we crude I'll do that right here We're not done with xon mobile Now I take a look at the lights we crude contract You can see wave number seven letter g. You can see Today is going to be bar number nine of a td nine count This suggests the lights we crude could be forming a top between today and tomorrow With regard to that pattern, of course the beauty of that pattern is the high of the pattern If we see a close above that certainly within a couple of bars That tells us about a very strong moment to move to the upside No bearish reversal signal as we speak right now, but you do have that caution sign On a monthly chart out here Nothing to really add to our conversation Short-term time frame 30 minute roads meant to mitigate our signal. This is suggesting a pullback The pullback would be to 60 64 if xon mobile pulls back to that level holds That would be a bullish outcome because that is the 30 minute breakout level out here So that's what I see when we take a look at the xon mobile. Let me make sure I've got to all your questions here, Dave I believe that we have so thanks so much for writing in and a best of luck to you on that trade Got a couple questions inside the tigers den What is the take a look at or maybe it's the only one is a take a look at tick assemble a b us a b us I guess is in a a patent dispute. Is that what it is patent dispute? uh out here Yeah, it must be a patent dispute that they've got with moderna and uh that ruling What did you say that ruling is thrown prayer No, they're just hearing oral arguments on it. Okay. So as we take this that that could that case could last quite a long time years out there Well, if they're hearing oral arguments, well, it shouldn't be years But in any event, let's just take a look at this is our but us bio pharma So what do we know about it? What we know is that price yesterday closed below the bottom of its profile Too consecutive closing below that would suggest lower price and that means you're watching the level of four dollars And 24 cents price to trade at 422. So where would lower price take us to? Well, we just go over to the next profile That'd be the weekly time frame and that would suggest perhaps 373 the top of its weekly profile But the weekly chart is bullish and the monthly chart is bullish because price is trading above those profiles So let's go take a look at a b us. Let's look at the daily and weekly time frames. See if there's any signals here to assist us so There's a hammer candle that formed a few days ago There's not been a confirmation of this rose mentor indicator Pattern, we don't have the bearish reversal candle But what you do have here Dan is you do have that hammer candle that hammer candle Low is four dollars and six cents If you did see a close below that that would be a signal that price is getting ready to perhaps pull back Towards the three dollar and eight cent level. That is where it's a breakout areas We have this expression if you close below the low of a hammer candle if you're long you're wrong We don't have that just yet. We just have price trading below The daily profile, of course, what happens if price regains that daily profile that suggests that yesterday's move would be a false signal That's why steve likes at least two consecutive bars out there So watch the bottom of that profile for information on a weekly basis out here. What do we have? Oh, we have a td9 count top. So whereas I said, hey, we didn't see any resistance out there That was true on the prior when we looked at the black background chart But now we have a valid td9 count top and that suggests that a b us Should pull back to test that oscillator and change line and top of its profile That's in a 373 to 381 level out here on a 30 minute basis We just have price moving sideways after generating erodesment to indicator bottom pattern out here We can see that the profile I can't say that so I can't say that i'm not going to say it Uh, that's all the information that i've got for you dan I hope that helps you out now the question was about a b us But what's going on in the case of moderna m r na? So why don't we just take a look at that chart as well Since I don't really have any requests that I see at the moment if there was something in the den That you need me to look at would you please re type that in for me? I would appreciate that and if you've had a new request that will work to m r na though Is a ticker symbol that we're going to go take a look at and see what it is doing as well because it's part of the litigation As we take a look at moderna What do we have out here? Well, I do see an a to b equal cd to the downside out there That has not confirmed yet We can draw that pattern in hasn't confirmed because we don't have a bullish reversal candle I don't believe we do So here's our a point our b point is down here on august 16th The c point out here would be on the trade day of september 10th So it's hit the one to one level and that says for moderna What we want to do is we want to be on the lookout for some type of bottoming signal One something about bullish reversal candle and so we don't have that just yet So that's what I would be waiting for there now in the case of moderna. This is suggesting Nothing more than the a to b equal cd to the downside Then price could be charging the breakout level of 229 curious on a 30 minute chart. What do we have out here? Looks a little bit like that chart for a b us So not a big tell out here that I can see but with regard to if you're thinking that Uh, the other symbol was an a b us you're looking for some type of clue that they're going to Succeed in this. It's just not in the charts as we speak right now. So hope that helps you out That's over the daily bottom now. Yeah, so we'll just say that yesterday's Um at this stage it's going to be about the close not where it's trading right now But it would say that yesterday's closed below it if it regains that profile level Would be nothing more than a false move to the downside for the daily timeframe So hope that helps you out and best of luck with that trade that was for dan in boston Um, who likes the yankees because he lives near boston, I believe and that's why he went with that Handle boston day, but tonight should be a good game to watch uh I I enjoy baseball. I certainly enjoy the playoffs. Uh, I love going to baseball games And uh, you know just watching the action out there. I'll certainly be watching that game this evening So what do we want to do now? There's no request in the uh, no request I've got by email or Or by uh, or inside the tiger's den out here. So what are we going to take a look at next that we haven't so far? um New york stock exchange the advanced decline line. Thank you s&p. We'll go we'll go do that Is still in the hands of sellers right now that advanced decline oscillator is printing out at minus 2.6 Um, so hand, uh, oh, I know we can take a quick peek at if I've got it up Yeah, let's go take a look at this. So you've had pretty good market breath today. I'm assuming you've had pretty good market breath just curious what the market breath of our taz market profiles are for the uh For the s&p and the nasdaq. So the s&p you're still in the red zone That's not a good thing by the way when it comes to taz market profiles for daily and weekly That's as sellers are still in control for the nasdaq 100 Also on the daily and weekly time frame sellers still in control. That's from a market breath standpoint We get back from this break out. We're going to go take a look at ticker symbol ups t for s&p 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 Markets can rise and fall like the tides Subscribe to basal chatman's newsletter the opening call and you too can ride the wave Basal chatman is an authority in technical analysis His chatman wave trading system has been helping traders identify trends and capitalize on momentum in the markets since 1984 tfnn invites you to test basal's proprietary chatman wave trading methodology With a monthly subscription to the opening call newsletter for only $149 Your subscription to the opening call comes with a 30-day money back guarantee as well as daily market updates on key indexes stocks and commodities Ride the wave sign up for the opening call risk-free today Are you looking for a secured investment which pays you on a monthly basis The target 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 target first mortgage program pays 7 per year paid monthly on secured high value buildable properties in st. 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So we can see that price has pulled back and has tested and so far rejected the top of its daily profile old resistance that Perhaps has become new support. So that's one possibility. But Dan before I would not I'm sorry. It wasn't Dan. It was SNP We can also see there's a small a to b equal cd pattern That is in place. So what I would be waiting for here Is I'd be waiting for a bullish reversal candle and that would then confirm your 1 to 1 a to b equal cd And it would confirm a gertley buy pattern Short of that and the reason why I would wait for that is because on the weekly time frame chart For some reason my a to b equal cd tool is not allowing me to print that pattern But you can see the you know the a point would be the low of its on a weekly basis It's a ipo back in december of 2020 the b point I'd be using is the high from may Of may 31st 2021 and the c point be the retracement into july 12 Well, clearly this was more than a 1 to 1 and you had that little dark cloud cover candle that formed And so that just says a bit of caution If I didn't see that on the weekly base of the topping pattern out of your SNP I might say, you know now would be the time assuming we could see something on a short term time frame But here's the daily chart. Let's pull the daily chart white background charts. That is you've got to confirm rogement of indicator top Against one level of support is held But I would feel better if I saw bullish reversal candle. What's the weekly chart show us not a lot out here Oh, we take that back. So in addition to that dark cloud cover that was confirming a td9 count This would suggest that price should pull back to the oscillator and change line about 260 287 monthly chart not enough data 30 chart Yeah, nothing here to take action on so the short term time frames are trying to form some type of bottom Well, the 30 and the 65 were SNP Why don't you wait? Let's wait even though support is held Let the market prove itself to us because you can make a case that this should really head lower and just temporary support has held I would change my mind if it was a bullish reversal candle folks. Stay tuned. David white is up next time Brian will take us on home. I'll be back with you on wonderful wednesday. Have a terrific Tuesday