 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 October 29th, the terrific Tuesday, almost the trick-or-treat Tuesday edition of today's Trader's Edge. I'm your Steve. Perseverance, Rhodes. Coming to you live from Del Ray Beach, Florida. I hope you're having a great day. Hey, let's make sure we have an extraordinary day. Yep. Let's have an extraordinary day. The easiest way to have an extraordinary day is to always remember that life is happening for us, not to us. That's right. We need to make that one little two-by-four shift. It means we can find the gift in every set of circumstances that life is going to toss at us. Now, 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 past one o'clock in the afternoon. I'm absolutely grateful for your presence here, but much more important than that. During this next 60 minutes, I'm here to serve you. That's right. I'm here to serve you. I want to go ahead and take a look at whatever instrument, timeframe it is, that you've got a curiosity about. Curiosity is a good thing. And we'll see what it's doing on multiple timeframes. The easy way for me to look at that instrument would be to give us a call at 877-927-6648. But if you can't call in, we get you, and we got you. We've got your back. All you have to do is let those fingers do the walking. Send me an email, Steve at tfnn.com. If you'd be kind enough to put Radio Show question in the subject, then that would be great. And of course, in our Tiger's Den, we'll take any and all pings out there. 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 LUS Show right now. We've got a mixed market out here. The Dow is up 18 points. It's basically flat. The S&P is up 5. It's up 2.10%. The NASDAQ is really not doing too bad. It's down 33 points. You would expect that. That's the NDX100 with Microsoft trading lower, Apple, Amazon, Google trading to the downside. We'll take a look at the NQ, but really not doing too bad at all. Russell 2000 is up a half a percent. That's seven points. New York Stock Exchange is up higher. It's up 4.10%. It's up 47 points. And that's interesting because the advanced decline in oscillator line continues to move lower. So there's divergence that's going on there. It says we must be careful. Gold is off 5 bucks. Silver down 3 pennies. Likes we could. It's flat. Natural gas. Anything but flat. Up nearly 7% right now. 16. In the control room, if you could post a chart. And the only chart right now, really, Peter, that's being posted is just my normal screen telling you where things are at. As I do change screens today, while we're trying to figure out how to get my system working properly, we'll go ahead and in the den, they will go ahead and post the charts individually. And you can get everything live, though, on Tiger TV. So maybe on one screen, if you've got Tiger TV, you'll then be able to see my screen live. But they will go ahead and post the charts for you. So lead the charge, by the way, dollar-wise to the upside right now. We've got zebra technologies up 14 bucks. A little over 6%. Marauder therapeutics up 15%. That's 12 bucks. Becton Dixon up nearly 10. Roper technologies up about 10 as well. To the downside, it's Google. Down 25. Grubhub is up 25 as well. That's a 43% haircut there. Beyond Meat is down 20 bucks or down 20%. So you've got some folks that are in some IPOs that are an IPO. Let's just call it. When it comes to Halloween, they got the trick versus the treat out there. Let's go to our first question. Our first question coming in here from Michael P. And Michael is looking for a bottom inside of ticker symbol MJ. And we got a caller on the line. So we're going to have to switch over. We'll come back to ticker symbol MJ. But we've got Brent on the line. Brent, thanks for calling. Thanks for holding. How are you? I'll see you. How about yourself? Doing good. So update us. What's going on fire-wise in your specific area? Yeah. We had a close call on Sunday. We got impacted by that whole them shutting off our power. Started on Saturday. Kind of late afternoon on Saturday. They were giving us different updates and kind of showing it was impending and it did finally happen kind of later in the afternoon. He's still there. Yeah, I'm just listening to you talk. I heard something like there was a ringtone. Anyway, so yeah, we were impacted by that. And then because they did it, they were shown on Sunday there was going to be some high winds which end up happening. And so we had our power off and getting towards the afternoon there was a bunch of fires happening all around us. Not right by us, but then like probably about that same time in the afternoon we could see smoke from our house. I mean not far like maybe a mile away. Wow. The wind, yeah, real scary. We were basically, my wife was already gathering up pictures and grabbing some things that were personal effects that we would maybe have to, you know, bail on our house. And so it was, yeah, I was touching go there for a bit and they seem like they had a pretty solid strike team together. They were just getting on stuff really quick and just making sure that it didn't get turned into something worse. And so that was really appreciative of that. They got on it quickly and but it was a little scary. I mean it was close. I mean I could see it from my house basically. Wow, wow, wow. We're glad to hear that everything's okay and hope that it stays that way for sure. And it's a crazy scene. It's kind of like, so I would imagine, out there if you're turning on your news it's probably on non-stop. Very similar to when there's a hurricane that's coming towards the east coast. It's non-stop. But when you're elsewhere in the United States you don't hear about it as much. The textures and the images of the fires and how fast they're spreading. It's just amazing. But it's been like this for a long, long time. So you've been like this. But a little bit worse you think these days than in the past? I don't recall it being like this. They used to always have the ones down in Southern California with the Santana winds and it seemed like that was pretty common. But the last few years up here in Northern California it's been really bad. And I guess it's been about two or three years ago in Santa Rosa having another one in the same area this year. Same areas kind of being impacted. And then of course that paradise fire that happened last year that was just completely wiped out the entire town. It's been, yes, been really bad. I can't exactly explain. I know some of them have been caused they think by down power lines and that's why they're trying to kind of get out ahead of them again as well. They're doing these blackouts. They're trying to get the power shut off before something like that happens and they can go make the repair and get it all back at speed without the power on and of course not have the fire as a result. So that's kind of their thinking there. There's still a lot of fires happening for other reasons. You're not going to stop it completely but I'm sure at least that part of it will be eliminated to a certain extent. So they're still tied to that same problem from what I heard and I'm not sure that's been confirmed but I think it had to do with power lines again. Right, right, right. Hey Brent, we're about to go to break but hang on if you would be kind enough. We're going to come back and take a look at UNG folks at the United States Natural Gas Fund out there with Brent and Martinez, California. So just stick with this and we'll be back in just a few. If you're not currently using or setting up your trading opportunities then your arsenal is short a mighty weapon. The TAS Profile Scanner is a standalone piece of software that instantly filters over 2,500 global financial markets such as stocks, ETFs, commodity futures and forex. Heated by Steve Dahl, TAS understands that in today's technological world the use of top flight software applications and technical analysis expertise is essential to successful trading in today's market. We also gain access to the webinar that Steve Dahl and Tom O'Brien just hosted the best way to use the TAS Profile Scanner to profit. This webinar archive is available for all subscribers immediately upon signing up. 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From the price you should be paying per square foot in certain up and coming areas to the type of cash flow investment properties are capable of creating, Tiger Real Estate can help you make the best decision when it comes to all areas of the market. Before you make one of the biggest decisions of your financial future call Tiger Real Estate LLC today at 727-329-8322 or email us at tiger at TFNN.com or call us at 329-8322 call us today. Many of our new listeners have heard about the Tiger's Den. The Tiger's Den is a lively community where professional traders and investors can meet, exchange ideas and information in a comfortable moderated atmosphere. Hear all of the TFN shows plus see all of the charts as 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 you'll 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 6 months and yearly options. Check out the new TFNN.com now and experience all the upgrades TFNN.com educating investors. Call now. Call free at 1-877-927-6648 internationally at 727-873-7618 On the line with Brent in Martinez, California we're going to go take a look at U-N-G that's the ETF for natural gas. We're looking right now what is on my screen or at least you'll be able to see this in Tiger TV is the November contract for natural gas and what you can see is a real wide ranging bar today as price approaches $2.63 $2.63 is the price area where natural gas from a daily perspective most recently broke down. So Brent how can I help you with regard to U-N-G? More my questions was about the actual contract and the specific question was I noticed going back probably between a week and two weeks ago that there was a pretty big divergence between the one you just spoke of, the November contract and then the December contract is probably about $0.20 difference not that long ago and I was just wondering if there's that Jeff effect to be in line with the next month contract is just getting ready to roll over and that is the case. I mean again that may be something that John and Philip can comment on I know he's really squared away on that a lot of the commodities and might have some information to provide there but it's just and if that is the case that you can kind of anticipate that there's going to be if you have that condition happening and see that spread between the two is there going to be a catch up can kind of anticipate that and actually trade that with my question. Got it, got it. So it's a great it's a great question John's actually listening in he's typing in a few things out here maybe he might call in and actually shed some additional light on that for you if you do take a look at so what I do have up on my screen you know is also the December contract right now you know in all that I can share with you it's well above profiles daily time frame short term time frames as well so actually I've got to change a couple things on my system. At this stage of the game natural gas is bullish I don't have the ability at this moment to put the December contract to see what that price level was where it broke down if it does have 90 consecutive days on a breakdown but if we take a look at right now just the November one which I can comment on a price is running up towards a resistance area and if price can close above $2.64 will call it really if it can close above that it suggests that there is a change in trend that is underway as prior significant prior resistance will have been taken out so that's we're not that far from it I don't know it's a wide-ranging bar markets don't usually end on wide-ranging bars of course that could mean that tomorrow and the next day could just be sliding sideways out here but with regard to UNG so the breakdown actually occurred I'll give you the actual day where the TD set up nine count began its pattern to the downside that was September 19th and that's a $2.63 set level and if I were to take a look at UNG because when I did suggest the subscribers getting in into natural gas the price target that we came up with Brett was the September 19th session as well which is actually priced at $22.47 but even when we wrote about it we discussed it we said look this is just a target but we really need to take a look at the resistance level and any patterns that are forming on the daily time frame chart right now there's no patterns forming other than price getting up to resistance so the only other thing I can do then is say well alright so we know it's up in its highs it's not going to break any support levels but what are the support levels on a pullback where this would suggest that okay maybe the run to the upside is over and it's going to be deeper pullbacks and for those I go to a 30 minute time frame a 60 minute time frame a 2 hour time frame and just take a look at the patterns that are going on so the first question I would ask myself is there any kind of topping signal that I see for those time frames and here the only topping patterns that I'm showing would be the TD set of nine count patterns well we happen to be in bar number eight on a 30 minute basis this will end at 130 so bar number nine is what we need a full nine count out here would say maybe by two o'clock we get the nine count of course the high can occur on bars eight nine or ten well we know what's going to be at least eight at this stage of the game out here that doesn't mean that would be a sell on a daily basis just kind of an ability for you and I to take a look at what's going on intraday and where is it that we could begin to see some type of a pullback now if it's just a pullback to test support which in this case is $2.50 but there is a new potential nine count pattern that is underway and if that pattern completes which I'm going to assume that it will at this stage then the real level of support to be watching to the downside is going to be $2.55 or so it appears so at this stage I don't have any kind of topping signals out there and so for example subscribers that are still a long natural gas if I were writing a newsletter right now I would say to stay put versus coupled if you know what I mean that sounds good Steve Steve I have one other quick comment just about the fires before I probably close to the break here but just that most people probably don't realize if they don't live here that we just have seasonally we don't get rain other than about you know like it can start around this time goes through maybe April May so there's just this is the driest part of the season and the winds normally will kind of shift they'll come to the shore instead of on shore where you have the marine influence so I just yeah this is like the most vulnerable time right now with it being so dry and the winds of course don't help well we're sending you all of our luck, good fortune, white light all that stuff and please keep us posted always good to chat with you I sure will thanks again Steve for everything just have a great day and I'll talk to you soon you bet my pleasure that was Brett in Martinez, California so let's go back and take a look at I had mentioned earlier that Mike, Mike P wanted to take a look at MJ he's looking for a bottom here MJ by the way is the alternative harvest ETF fund that is and what we can see right now is this chart here that we start with if you can see it if you can't I'll explain it's our three panel view where we take a look at daily, weekly and monthly timeframes and we look for task market profile support and resistance it's always so important to understand where your support and resistance is now price is trading above the top of it's daily profile which is 1938 price at 1975 out there we're going to go see if there's anything that suggests why did it pull back today is there any pattern or anything out there when we took a look at this last week we didn't see a bottom but we did see that price there was a new profile from the top of it so it's not like we were saying hey go short this yesterday we also can say that we now know this week Michael that we have a new profile from a weekly perspective bullish and structure 1888 a support 19 around 1969 is the center of the box and 2212 is the top now we're going to go to a breakout here and we come back we're going to take a look at Stevie's other charts we're going to see hey what's going on on a daily basis out here but what I can say is that alternative harvest has not formed the type of bottoming signals that I used to identify a bottom doesn't mean it hasn't bottomed when we come back we'll take a further look into it Steve Roach with TFNM 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 tyros share if you're looking to become the best of the best when it comes to managing your money let me teach you to do what most wealth managers tell you can't be 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For more information just click the Think or Swim banner on the front page of tfnn.com So Mike, we're taking a look at MJ right now. We're looking at the daily time frame chart and here's what we can see. We know that yesterday what this ETF did was it formed a TD setup nine count pattern with the bar nine being the high and with price of the gap into the downside pulling back the key level so when it creates that nine count what it does is it gives you a breakout support area. We were taking a look at breakdown resistance when we're looking at the natural gas contract and here is an example of a support level. Now you'll also see the top of the profile. We had talked about that as before we went to breakout here but you really want to see so if this has bottom has formed some type of bottom out here Michael what you really want to see is on this pullback you want to see price hold 1917. If price close below 1917 price should at least get back to 1840 the bottom of its box and maybe even beyond that out there. Of course you want to pay attention to the new weekly profile but we know why it topped it formed that topping pattern. Now price is pulling back and typically when you see this pattern the role of a top is to always go back and test support. So we've got breakout support in 1917 around 1938 is the top of its daily box and Stevie's red line is 1899. That's kind of like the last bastion of hope is Stevie's red line out there. So if those levels hold then what you might see is an A to B equal CD to the upside but we have to take it one day at a time. It has a valid topic confirm that yesterday price action today is not unusual out here and but I don't have a bottom. I don't have the type of bottom wave number seven. I don't have a TD set up nine count. I don't have an A to B equal CD to the downside this is the weekly timeframe. I don't have anything to suggest that MJ has actually bottom. Remember I use a handful of patterns three or four that help us to identify tops and bottoms but not every time on instrument adhere to those when we do see instruments that are following those that flight path so to speak it really assists us and provides me with more with with a higher probability and more conviction to be able to say to you share with you that yes something is bottom I don't have that here and but we do have a topping pattern so Michael where you asked me has it bottom what we actually have inside of alternative harvest is it is a topping signal and I didn't mention it but I probably should here because now you take a look at the weekly timeframe chart prices trading below Stevie's red line tells us we have a falling price oscillator below zero and on the daily timeframe at top before price could even get up to that resistance level which is twenty one thirty six it's not really a good so I don't know what's going on in the business out here but I don't want you to get caught in the weeds so to speak and I just simply know that that TD7 kind of is identified at top versus what you were looking for was a bottom out there John Rodin John wants to take a look at he wants to go take a look at shake out here SHAK so let's go take a look at it and the question is is this a short so we take a look at shake shak here's what we know we know price is trading below the daily the weekly set of profiles not the case inside the monthly time frame so you're asking me is it a short let's go take a look at shake shak from a daily chart using Stevie's tools out here is it a short boy so the real short John came in when this confirmed its rose momentum indicator top out here that was on the trading day of September 11 when price went ahead in gap to the downside that's here doing less amount of energy into September the 6th out there the price on that gap to the downside came back and tested support you see that 95-15 level that was breakout support so support held much like what we're suggesting that Michael look at inside of ticker symbol and J will support hold or not well when shake shak broke through that level of support closed below it on October 2nd that was kind of like sayonara to the downside out here we do not have a bottoming signal it does look like prices had a 75-71 you're traded 82-48 out here but here's what I would do John to the extent that you have a hankering for going short shake shak wait to see if you get a little bit more bounce out here maybe up to 87-32 which is Stevie's red line like I don't have a full indication that that's what it's likely to do is to head up there but I'd like I'd prefer if you're going to go ahead and trade this you're like in the middle of between support and resistance out here and so it's kind of a midstream but you know maybe that'll work for you I don't know the monthly time frame chart out here is suggestive so if this month closes above the close of bar number 5 which looks like it will bar number 5 by the way that close was 72-20 we're at 84-38 you're going to get a TD setup a valid TD setup 9 count in a few days out here now what that's going to suggest is that price then should get back and test its level of support that's Stevie's green line and that's price at 76-04 and if price were to move below 76-04 you know then you've got a huge retracement going on so does it look like shake shak is headed lower the answer is yes is now the opportune time to take a short that one's a tougher call John so I hope that this helps you out I see we've got another question here coming in from Alex Alex is recently Russell 2,000 IWM has been in a strong has been strong did your work find the small caps make up make up moves first well here's so what I have found Alex I've been tested this out recently what I have found and in a bull market you'll see the NQ and the Russell 2,000 lead you'll see the NQ the Russell 2,000 RT Y out here if we take a look at the futures contract you will see them lead out here now it's hard for me to say that the Russell 2,000 is the leader of the pack it hasn't taken out prior highs that is not the case inside the as many as it's not the case inside of the NQ out here and so I don't know how else to you know what else I can share with you that doesn't mean that it's always like that but better bullish conditions are when the NQ and the Russell 2,000 are leading to the upside it also works in the opposite direction so we don't have that either out here with regard to the the Russell 2,000 the NQ out here everything is above resistance almost yeah everything when I say everything I'm looking at the four futures contracts ES is above 3032 the NQ is above what's the number here 80 it's very close but it's still above it 80 80 8071 the Russell 2,000 is above 1575 and the Dow is above 26 27042 so everything is still in breakout bullish mode hey let's go to Sarasota we got a caller on the line Ray and Sarasota calling to discuss Carbo ceramics right thanks for calling thanks for holding how are you this afternoon so here's what we know right now so if we take a look at what it's doing today it's testing the bottom of its daily profile that's at $1.75 it's trading at 180 now just out of curiosity I'm curious as to what this is doing as it's trading into October 10th October 10th there were 163,000 shares you've already done 107,000 shares so it almost seems like Carbo ceramics is pulling back to a prior swing point with maybe a bit too much volume but Ray do me a favor please stay on the line we'll come back we'll take a look at Carbo ceramics and help you out if you're in the CD market and looking for a secure investment the Tiger First mortgage program may work for you the security of these first mortgages are building lots in the tax opportunity zone in St. Petersburg, Florida the tax act of 2018 set up tax-free zones across the country where you can build and hold for 10 years and pay no tax on the profits which 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should be read carefully before investing an investment in the funds is subject to risk including the possible loss of principal the funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor four side fund services LLC that's tfnn.com then hit watch Tiger TV for the latest market information welcome back folks we're taking a look at carbo ceramics CRR is a ticker symbol online with Ray in Sarasota so Ray what I have up on my screen right now is a daily time frame chart for carbo ceramics and what we're going to take a look at is this bottom back on July 26 I did it with a TD set up nine count pattern out here and then it was like a little rocket ship went from about 70 cents all the way up to about $3 or so so a nice move to the upside then it begins a pullback and it creates its next bottom a much higher bottom out here on October 11th and it does it with the same pattern a TD set up a nine count pattern it also does it on bar number 8 now today what we know is that carbo ceramics is pulled back to support we don't know whether support will hold or not that's at $1.75 and by that support level I'm referring to the bottom of its TAS daily profile here's what we do know today is also going to be bar number 5 what appears to be bar number 5 of a TD set up 9 count now is the third time the charm in other words that the bottom would really come in when it forms bar number 8 of a TD set up 9 count I don't know the answer to this if I were Johnny Carson what was the character that he used to do do you remember did you ever listen to Johnny Carson right this shows Karnak was a Karnak Karnak I think it was Karnak Karnak if I could use my Karnak skills and that would be wonderful but I don't have them but if you're trying to build a position and you're not worried about really trying to buy the bottom tick here all that I can share with you a support is held today it would not surprise me to see this at least move down which would mean for at least another three or four days to form that TD set up 9 count pattern I think looking for the next bottom makes sense and the reason that I say that for you is because of the weekly time frame chart which did form a nice bottoming pattern out here road's momentum indicator bottom signal prices above Stevie's red line which is above 36 out here so on the next bottoming signal that you get in CRR I can see adding back to your position letting this thing try to run up to 364 where it should run into real resistance out here whether today is the right day or not I don't know but you're trying to rebuild your position so maybe you put a little on now maybe 25% or whatever percentages that you're comfortable with of that of that position that you're trying to build and then wait to see if we get another TD set up 9 count pattern over the course of the let's say by Friday or Monday that's helpful that's really helpful. Do you have time for one more NAT? Sure, let's go take a look at that. That's Nordic American tankers or something along those lines so tell us what you're doing there and how I can help you. That's one that I've owned for some time I've traded it I've got a position I sold out some of the good earnings report next month. Okay, so here's what we know right now so you got a brand new market profile that's formed for its weekly time frame and its distance is 447 it's bullish in structure so the center line which is a 363 says that inside this profile by the way the bottom is 335 but inside that profile both buyers and sellers are most comfortable with price at 363 that's where they believe there is fair value price doesn't have to stop there but that would be a spot you could take a look at entering but the bottom of its box is 335 and the bottom of the daily profile is 327 so I would say between 327 and 363 those would be areas to consider adding to it but now we got to go look at Stevie's other charts out here see if there's any kind of signal on the daily charts to give us any type of other information so it made a roads momentum indicator bottom way back in September round September the 4th and that didn't work let me see if I can do this here oh I see I grabbed the wrong button that doesn't help a whole lot yeah so this thing tops with wave number 7 that may not mean anything to you Ray but often times markets will top or bottom with part of the Chapman wave count that I look for is wave number 7 or letter g on my chart right now that's the market saying in the key so you've got an effective top out here with price trading below Stevie's green line which also happens to be the top of the daily profile now I'm going to and today looks like it may be bar 4 of a TD7 I'm going to suggest they be patient right here to wait to see a price will pull back into this 327 347 ish type area out there and the reason I say that is because you've got a valid topping pattern out here the kind that I look for and now seeing that this is work the real role and responsibility of sellers is to try to push things down to support and we're kind of in the middle of support out here so I'd rather you wait to see if they can do their job if they can't do their job and I think that's the point of Nordic American tankers but earnings don't come out till next week I want you to sit tight for for several days out here right okay appreciate your words my pleasure thanks for calling and best of luck with with your trades out there alright folks let's see Hector writes in and Hector wants to go take a look at the ticker symbol S N A P so let me type it in my other screen we'll get here to our e-signal screen what their profiles look like S N A P and what Hector says is can I back up my taco truck because it is taco Tuesday and you can always back that up then I'm not really a Margarita guy but I'll meet you there for Corona or a Modella Negro or some kind of beer out there and I'm with you on the tacos I think tonight I may be going and getting a little shrimp and steak sounds like a good idea but he wants to back up the truck Stevie what his thoughts are about backing up the truck never back up the truck just use Stevie's 1% rule out there because you want to make sure that you have that truck forever but here's what we know about snap crackle and pop right now price above the top of its daily profile that's 1434 that's bullish price has found resistance at the top of it or at the bottom of its weekly profile and that was at 1503 out here and we don't have to worry about the monthly time frame so now what we've got to do here for Hector and his fuel injectors is go take a look at the daily time frame chart and you've got that nice roads momentum indicator bottom no bullish reversal signal out here so I'm going to say hold off on backing up the truck so to speak so the daily time frame I just don't really have anything solid for you and I would and with price at the bottom of its weekly profile a little dangerous now let's go look at the weekly chart why is it why is it rejecting that area and now we know there you go so take a look at the weekly chart out here Hector look how this forms a beautiful bottom it does with the roads momentum indicator bottom it does this here back on December 28 price moving lower doing less relative energy the cavalry arrives with little piercing candle hammer candle the very following week and then makes a nice run until what until it forms a roads momentum indicator top it does this with the old dark cloud cover on September 27 out here you are in bar number five potentially bar number five it depends on where price closes this week this pattern may just simply go away but we've got a really valid topping pattern out here and signal and and with price trading below the bottom of that weekly box Stevie's going to say you've got to stay away from this game right now we just have the longer term of the intermediate term which we'll call the weekly time frame is not providing you with a ton of good information and then Hector the icing on the cake the line in Stevie's corona is it looks like last week on a monthly basis looks like you've got a potential TD set up nine count pattern that is forming so stay put on snap crackle and pop don't backing up the truck unless it's with cases of corona with few lines since nineteen eighty four 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 nineteen seventies into the nineteen eighties 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 in calling price turns as well as market trend calls thus was born the Chapman wave sequence using the Chapman wave methodology along with other indicators Basil Chapman advises his subscribers of his expert market opinion each market day with his opening call newsletter right now you can get a two week free trial to the opening call Basil's daily trading newsletter by visiting the front page of TFNN.com cancel 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 TFNN.com if you're a trader in the market looking for exposure to gold or gold mining equities then now is a perfect time to sign up for Tom O'Brien's gold report the summer is over gold is trading back above fifteen hundred dollars and the ten year treasury is hovering at around one point five percent Tom O'Brien has been writing his weekly gold report for almost eighteen years there's no one that knows more about how the gold market and how gold mining equities react new subscribers get a thirty day money back guarantee so you have nothing to lose every Monday morning Tom publishes his weekly gold report with coverage of gold silver bonds the XAU HUI GDX the dollar as well as more than thirty different mining equities as of September third gold report subscribers have five active open positions with an average unrealized profit of almost thirty eight percent for each position to see for yourself the types of profitable trades that are recommended within the gold report sign up today by visiting tfnn.com you know what's cool taking something that's good for you something specifically formulated to help with weight loss better sleep stress reduction and the need to detox 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 primal edge daily nutrition it includes a special blend of ionic soil based vitamins minerals fatty and amino acids and an easy to use liquid form primal edge is powered by highly concentrated folic and humic acids nature's preferred delivery system they've been called miracle molecules because like sunlight air and water life cannot exist without them that's right 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 folks thanks for everybody who's written in or called in today let's kind of use the two minute wrap here to get a feel for where we're at in the market so we're just going to start here by taking a look at the cash indices for the Dow S&P NASDAQ 100 and Russell 2000 and what you should see if you're watching us on Tiger TV is you should see that we're still in a consolidation pattern we're in a consolidation pattern inside the Dow if you just take a look at the diagonal this monthly time frames we're looking at a little diagonal a line connecting the highs from January of 2018 to the highs of October of 2018 that has contained let's put a lid on the Dow if we were to see a move above that then I would say okay we have some type of breakout going on but we're up towards resistance not totally there but close the S&P 500 really the same thing and so this is up towards a resistance level the same thing inside the NDX100 and the Russell 2000 is still dealing with in essence the highs from February of 2019 a real consolidation out there that's what the daily cash indices are showing us that says to both you and I you got to be careful why because you're up towards the top of resistance so if you were type of person who had a bearish outlook I could totally understand your consideration of taking a bearish position right now you don't have any signals to do that so don't please don't misinterpret that we do have some concern or we should have some concern we take a look I mentioned this as we were opening the show you do have a higher closing high right now inside the New York Stock Exchange and panel number two the advanced decline oscillator that is not the case the advanced decline oscillator continues to lose value not still above zero but when we do see these divergences the divergence between the direction of price and the advanced decline oscillator level out here it tells us to be careful it's about an impending retracement to the depth the depth of that retracement will be dependent on perhaps like the spot VIX index where it's trading relationship to its 50-day potential moving average which is 1563 in the spot VIX is at 1312 right now so everything is bullish as we speak at 156 in the afternoon but things could change so just stay tuned and tune in tomorrow again at one o'clock and I'll be happy to share with you everything and anything that I can to assist you with your trading and investing have a terrific Tuesday folks