 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 morning folks, welcome to the April 5th, the wonderful Wednesday edition of today's Trader's Edge show. I'm your Steve 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. 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 going to toss at us. Now today you and I are going to go check on the circumstance of these markets. We'll go figure out what those bulls and bears, what those buyers and sellers are communicating to you and I at just past 11 o'clock in the morning. I do want you to know I am absolutely grateful for your presence here but even more important than that and that's this. During this next 53 minutes I'm here to serve you. So feel free to pick up that phone and dial on it. We'd love to hear from you at 877-927-6648. Now if you've got a question but you can't call in, send me an email. Send that out to Steve at TFNN.com and decide the subject getting please put radio show question. Of course if you're inside our Tigers then, well then any and every ping we'll do. So let's go ahead and get this show started on wonderful Wednesday. Of course this is Tiger Financial News Network. I'm Steve Rhodes. Welcome to the show. Right now we have mostly a sea of red. The Dow is up 21 points. The S&P is off 21 points. The Nasdaq 100 down 180 about one to four tenths percent. One and a half percent for the Russell are 27 points. 80 points to an half percent for the semis out there. You've got gold off three bucks. Silver down 13 cents. Lights recruit off 25 pennies. Natural gas up two cents. 30 of Treasury printed out 13402. That is up 30 ticks. So where do we want to begin? Let's begin by let's begin by taking apart the NQ out here. So let's move over to those charts. We'll go take a look at my eight panel screen out there. Just give me a moment. We'll get over there. You'll have the white background charts up the left hand side. So at the 11 o'clock update we did mention there's a new profile. There's a tempting to form. I believe the NQ's profile has formed, has indeed formed. So right now we have price testing support both the green oscillator and change line and the top of that profile. So the first number you want to jot down on your pad of paper today is going to be 1306295. 1306295. The price close above that well then likely the top of the profile held and the green oscillator and change line. Now why is that important? Well the reason that that is important would be taking a look at this chart here. This is our Texas two step so to speak. And on the Texas two step chart we can see that this is likely going to be day number three of a lower close. We have seen four consecutive days lower here since the run up off of the December lows out there. So this is suggesting we could see a bottom form today or tomorrow out there. So you really want to watch the top of that profile and see where price closes at the end of the day. If we take a look at what else is going on, let's look at other areas of potential support. On the five hour time frame chart, Rosemont to Midecator top 12993 would be profile support. On a 240 minute chart Rosemont to Midecator top 1305 it's TD9 account breakout level. 12941 is the TD9 account breakout level for the 120 minute time frame chart. On the lower panel here all we have is a TD9 account bottom on a 15 minute chart. That suggests we should at least see a rally up into about the 13105 ish area out there. So that's what we have going on when we take a look at the NQ's. But we've got a caller on the line and we've got call ahead city. And so let's go out to John and Philly. John, thanks for calling. Thanks for holding. How are you today? Hello. Could I ask you about co-match notes? Do you have any contact specific questions, Steve? Do you in your work, your indicators, your patterns? Do you see any warning signs that a short term top is forming and by short term top, I mean a top that gives way to a pullback of some sort for more than a day. So let's try to answer that question for John here. We're still on our white background charts. And so the very first thing that we would do to try to answer John's question is take a look at the daily timeframe chart. And at a daily timeframe chart, one, there's a large A to B equal CD to the upside. So we can all see that that is in place out there. And that is still the pattern. By the way, that first objective of that A to B equal CD pattern to the upside folks would be in the 2157 level. Now what price did yesterday was it closed above the top of its daily profile, John. So it took out resistance. There are no topping signals. Well, there's a topping signal and that's roads went to indicator signal. However, that requires a bearish reversal candle in order to confirm a top. So just having a signal doesn't mean that that is a top at all. So the daily timeframe chart says we're above profile. We are above a greenhouse that are in change line and that this wants to run higher. And we've got that A to B equal CD to the upside that would take us into 2157. Now, when we start talking about shorter term, John saying, Hey, maybe just a pullback for a day. If we did get a pullback, what we would expect or anticipate based upon that daily chart is price to get down towards that 2013 2008 ish area. The five hour timeframe chart at the moment, this panel, this chart here does not complete until the bar, I should say, does not complete till 2 p.m. does have a roadsman to indicator top. But John, what you'd be looking for here as some kind of signal on a five hour timeframe chart would be a close below 20, let's call it 2027. It says 2028 right now on my screen. That's three knots that are changed. And if price were to close below that, John, that would at least be signaling to us that we could or should expect at least another days worth of pullback where that might take us to, you know, that's always a we have to just watch the patterns that unfold. Nothing to signal a top on the two hour on the four hour chart. The two hour chart does have a roadsman to indicator top. That says that price could get back to the 1995 level. But prices first got a close below that 2028 area. So I'd really focus, I think on the five hour timeframe chart, John, you know, because it's the largest timeframe here that I monitor next to the daily with regard to some kind of pullback that lasts for more than a day or so. But I don't see anything. What do you see? Are you seeing? Are you seeing anything? No, I am not. And that's my question to you, Steve, you, you know me very well. I am notorious for insisting I have no clue what's gonna happen next 24 to 48 hours in any market. Yes. And all I do to manage that uncertainty is to ensure when I take positions, I've got manageable risk. And then of course, on core positions, be it long or short, stick with them, give myself room, that sort of thing. So the the only thing or one thing that does strike me just looking at your chart work and I appreciate that. That five hour chart parameters that you just shared. I'm looking back at that. That peak that occurred, I guess that was Monday Sunday night, March 19, Monday, March 20. We had that rally, it didn't hold it a reverse back kind of quickly. Yeah, if we happen to come under your rose senior oscillator on change line at that 2028 level on that five hour chart, if we start trading underneath that, yeah, we'll be under that March 20 high. And I'm always alert to potential failures on the short term, you know, to navigate. You bet. You bet. Hey, John, always good to speak to you. Thanks for what we're calling and we'll talk to you later at home. Hang on folks. Currencies, commodities and bond markets are as important as ever right now with how they're driving the volatility in equity markets across the globe, which is why it's a great time to try out Teddy Keg stats tiger forex report. Teddy Keg stat breaks down the forex markets every Monday using his 30 plus years of experience as a trading veteran of futures, forex stocks and options. Teddy releases his weekly tiger forex report every Monday morning with coverage of all the major currency pairs, including the dollar index, the euro dollar, pound dollar, dollar Swiss dollar yen, as well as many more. And he also has weekly coverage of the crude oil market and the 30 year T bonds as they both influence forex markets tremendously. When you sign up for the tiger forex report, you also gain instant access to Teddy's 60 minute webinar archive. He just hosted forex strategies and fundamentals. What is behind the tiger forex report? For all the details and to start your 30 day tiger forex report subscription today, visit the front page of TFNN dot com. TFNN educating investors. You might think that if you want to be successful at trading in the stock market, you're going to need a crystal ball. After all, it's impossible to predict the future, right? Like any endeavor in life, before you decide it's impossible, get some advice from the experts. You might find that it's not so impossible after all for daily market overviews that give you direction on the key indices, selective stocks and commodities. Subscribe to the opening call newsletter at TFNN dot com. The opening call newsletter is written by Basil Chapman, creator of the trading methodology known as the Chapman wave. The Chapman wave up down sequence gives you an edge in identifying price turns finding the peaks and valleys in stock prices. Get the opening call newsletter by Basil Chapman in your inbox every day. First time subscribers also get a 30 day money back guarantee. If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up. TFNN dot com educating investors. Steve Rhodes started his trading career as a student almost 20 years ago and the student has now become the master. Steve won the prestigious Timer of the Year award in 2018 and barely missed that mark again in 2019, finishing at number two for the year, an amazing accomplishment. Steve Rhodes is committed to sharing his techniques and knowledge with anyone who wants to learn and he shares his vast amount of trading knowledge every day in his Mastering Probability newsletter. Steve's award winning newsletter, Mastering Probability is delivered every trading day with updates throughout the afternoon. Sign up for Steve's market newsletter, Mastering Probability and you'll receive access to seven of Steve's educational webinars absolutely free at TFNN. All our newsletters come with a 30 day money back guarantee. So you have absolutely nothing to worry about. Visit TFNN dot com and try Mastering Probability 30 days risk free today. TFNN educating investors. Call now toll free at 1-877-927-6648 internationally at 727-873-7618. Welcome back folks. Now just to do a thorough analysis on gold for John that had called in here for each of you that are listening in. So there's an element that took place yesterday that likely has an impact on the direction of gold and that was the US dollar index. The US dollar index had formed a Gartley buy pattern on this trading day that was February, March the 23rd. It was nice little hammer candle and price closed below that yesterday. So we need another bullish reversal candle inside the US dollar index in order to generate another buy the D point pattern that could unfold today. So that's why it's important really to try to be a little bit thorough here for John. And so if in fact it has bottom we would expect maybe that five hour time frame for at least price to get back to that oscillator and change line but perhaps bust through it. If you look at the weekly time frame chart here where I've got my trend lines both the descending and rising trend line as well as price hidden an area of support. It's a bullish structured area of support this for the US dollar that we're looking at right now. That's between 100.82 and 101.30. So I'd really watch the 100.82. John and anybody else listening that would say price closed below that that's going to suggest lower price as well. That should put some energy into Goldilocks. Now that we don't need to necessarily see the US dollar index move higher for gold to move higher because of the political environment quite frankly that we're in forget about the economic environment. It's the political environment that's scaring the bejesus out of everybody. So if we take a look at so that. So one thing to certainly be watching for is the US dollar index. If we take a look at gold itself we're also approaching an area that has been real significant resistance of the very bottom right hand panel is our quarterly view. So you can see this takes us back to this consolidation pattern into the 2011 timeframe. Also drone drawn in here is that measured move if in fact gold were to close above. And yeah no you'd say close above where what's a level that we use. You know good question. I probably would adjust these lines. I know I will adjust these lines. I'll read that not now. But I would say a close above the twenty one seventy seven level. I'll probably then suggest that we have a consolidation breakout that takes up the around twenty nine hundred. Remember when you use these measured moves. The move is equal to work greater than the consolidation pattern. And you look at the monthly timeframe chart it's bullish as can be. Prices above profile levels it's inside its prior swing points. That's a prior swing from back in August of twenty twenty as well as one from March of twenty twenty two as well as going back to the swing point from September of two thousand eleven so it's trading into that. It doesn't have anything in the way of resistance that I can identify out there. That's why gold should have had higher but we want to watch it do is when it bumps its head against this ceiling is that it and we have another retracement or do we really have a breakout that's underway. So I just wanted to make sure that we were thorough with regard to Goldilocks. Now let's go take a look at some of the requested have come in will switch panels here we're going to take a look at TMO. And that's not too much information that's TMO and TMO is Johnny drumroll please TMO is thermal Fisher scientific. And the question came in from David H. David says this thermal Fisher have a good chance of getting to the six oh nine to six fifteen area by April the twenty first you've got calls that expire then so as we take a look at the daily timeframe chart specifically what we see here is we see price trading above profile price trading above its green oscillator and change line on its way up to five eighty six thirty four. Now you're asking about six oh nine I can give you five eighty six thirty four. And the reason that price might stop there on a further rise because that is his TD nine count breakdown area out there. So no topping patterns that are present on the daily timeframe. So David as we speak right now on Wednesday at eleven twenty two in the morning this does suggest to you and I that it does want to move higher when we look at the weekly timeframe chart it's a consolidation with inside its profile levels. So it likely wants to get to six hundred point eight seven well we got that five eighty six area to be paying attention to so I can get you to five eighty six to six hundred what you knew on its six hundred and nine not six hundred even that's about all I can get you with regard to what the charts are communicating to us now price can do its own thing and absolutely get up there if you look at the monthly timeframe chart for thermal Fisher scientific what you see at six hundred point oh five that number as you know it's going to change is it's a oscillator and change line that is held several times over the past looks like year and a half or so. So that's going to be a key area of resistance out there. So that should work pretty well I would think for your your trade out there now does it get there by April twenty first. It really depends on the market I would think is going to do. Are we just having your normal two to three day pullback like we looked at in the NQ and that if that is the case and we're still in a bull market and this market should run higher this market should run higher into May. But what it should do and what it does do could be two different things and that's why you and I will continue to pay attention to technical patterns out there. There will Fisher scientific on a 30 minute timeframe. See what kind of signals you got a roadsman communicator signal just simply took price back to support which was his profile levels. Then there's a new profile that is forming so you might want to watch five seventy four ninety one for a clue that's the bottom and five seventy seven ninety which is resistance as to which direction price might want to break when it's thirty minute consolidation is done. So hope that helps you out David thanks much for taking the time to write in and have a wonderful Wednesday. Next question in the Tigers that is from Mr. Bill Mr. Bill wants to take a look at Tesla's. Let's go take a look at Tesla. I don't recall if there was a question involved with that Mr. Bill and I can't get back to I can't easily get back to where you were where you were looking at. So my apology but let's go back happen there. I thought I switched over to Tesla. I didn't apparently. So now let's do it. So here's Tesla. Here's what we know about Tesla Tesla. This I don't think this completed the A to B equal CD out here. So that would be that's yeah there's no way that that was completed. So what we've got with regard to Tesla forget about patterns I don't have a pattern here. Well I don't have a I don't have a let's say a top or bottom pattern on daily timeframe right now as I take a look at these charts what we do have Mr. Bill is we have price trading below its green oscillator and change line. We have price trading back inside its profile. And today close it low one eighty nine fifty one more likely than not Tesla will go target the one seventy one twenty two to one seventy eight fifty four level on a weekly time frame. We are also trading with inside its profile. It's a boa structured profile and then of course it's only Wednesday but if the center doesn't hold which is one eighty six eighty three it says we get back to one seventy six. So we've got basically two charts here that are telling us one seventy six area should be a pretty good place for support and a monthly time frame. The level would be about one sixty five sixty seven that could act as support out there but I'd be more focused on the daily and or the weekly time frame from a thirty minute perspective with regard to Tesla what do we have out here. We've got a wave seven top that has led to an A to B equal CD to the downside. So it's actually draw in now this is going to be a the retrace well I don't know what retracement is. Let me just. Looks like it could have been about a point three eighty two retracement. The reason why I mentioned that is because more likely than not when you get a retracement like that Mr. Bill that would suggest we do more than a one to one A to B equal CD which right now we're approaching the one to one area around one eighty two and a little bit of change out there one eighty two one eighty three but more likely that this does a an extension. But what you want to watch for on a thirty minute time frame to the extent that you do is a bullish reversal candle. If you get that then that says that price should go target six or seven chains like currently about one eighty eight but I have to say overall. Right now it looks like Tesla wants to pull back give it another day of pull back out there I don't think that that would be unusual for Tesla. We've had two consecutive days to the downside. Third consecutive day third to fourth consecutive day should be all that we'd be looking at out there. So that's where I see Mr. Bill. We'll take a look at Tesla. Hope that helps you out if there's some other information that you needed please let me know. I'll do my best to get back to you. We get back from this break we're going to take a look at the next six for S. N. P. Moderna for E. L. O. and of course folks I would love to hear from you. Eight seven seven nine two seven six six four eight or Steve at T. F. N. dot com. If you want to take advantage of this sector now is the time to subscribe to my goal report. The goal report is a comprehensive look at the metals sector as well as the markets that move gold which is the currency and bond markets. New subscribers get a thirty day money back guarantee so you have nothing to lose. Every Monday morning I published a goal report with coverage of gold silver bonds the X. A. U. H. U. I. G. D. X. As well as more than 30 different mining equities. 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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 T. F. N. dot com or on T. F. N. N. YouTube channel and become the investor you were born to be T. F. N. N. Educating investors. 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 T. F. N. dot com. Welcome back folks. Let's take a look at some of the changes screen here. We'll get back to that question here. Sorry about that folks. Let's go take a look at our next request out here. That next request was actually to take a look at Netflix is for SNP inside the Tigers and so SNP. What we know is that yesterday was bar number nine of a TD nine count right at TD nine count breakdown resistance. I mean how beautiful is that? 349. So you've got a topping pattern this completes the pattern today and what price should do is simply pull back to support. Now the first level of support SNP you're watching is going to be the 330 area. That number is going to change up and down it says 330 8 right now 330 7. So that 330 area a price test and rejects that area. That's your bullish signal. That would actually be the next potential buy point if you wanted to add to a position. Whereas your price closing below that below that is around the 330 level. That would then signal price might pull back to the next level of sport. And that's at 315 71. The way that you trade that as prices point back to 330 is you'd want to go take a look at intraday charts out there. 15 minute 30 minute 65 minute. Remember you want to have equal bars when you're looking at equities. Don't do a 60 minute chart. Do a 65 minute chart do 130 minute chart. You don't do 120 you get equally time frame bars which is really what you want otherwise you're comparing apples to orange when you look at volume and everything else quite frankly. So here we take a look at a 30 minute time frame chart for necklace. We can see that this formed a roadsman to mitigate her top. It did at 10 o'clock in the morning. This was yesterday. Price broke through the first level TD9 account breakout support at 340 16. And now prices made its way back to the next breakout area of support. Funny how that works isn't it's really pretty cool. 336 23 was the exact number. The actual low was 336 25. So price right now is at an important threshold level of support SNP. And if we did see a 30 minute close blow 336 23 well that opens up the door for the next TD9 account breakout area down at 321 28. We're not there just yet but you have the number to know what to watch for and to look at but what you'd really want to do let's just say that price is going to pull back over the over the next day or two to test that oscillator and change on you'd really want to see some kind of bottoming pattern out there. And yes you can pull back to a breakout level support that can be about it but I really prefer to see the bottoming pattern and A to B equal CD a TD9 count roadspin to indicator or just simply some other pattern that one might trade out there. So I hope that helps you out with regard to a Netflix. This is going to be day number two of its pullback as we take a look at its Texas two step out there. Most of the retracement are two to three bars. There are several four. There's some if I say four or six and I do see a seven but right now we'll just assume that we've got this nice bullish move that the equity markets are likely to move higher through the May time frame out here. And of course we'll just simply take things one step at a time. So thanks so much for the request SNP. Let's go on the ELO's question who wants to take a look at Moderna. MRNA is the ticker symbol trading out right now about one fifty two sixty four. As we take a look at this chart out here what do we have. I don't have a topping pattern that I see but I do see that prices pulled back inside its profile and a close today below one fifty four seventy two will say that support has failed or at least the first level of support. Was it really the first level of support. Yes because there were two days of closes above two consecutive games closes above the top of that profile. So that suggests now this is a bearer structure profile. This suggests if this is just a counter trend moved to the downside in Moderna it will find support at one fifty one oh two. If it doesn't find support there. Well then it'll go tag and test that one forty eight eighteen this area. The red oscillator change under even the bottom of the profile one forty five forty six. So right now no bearish patterns in sight here from Moderna. The prices back inside its profile. It's bearish in structure. Price was above it for two days. That says if it's only a counter trend move price should find support in about one fifty one oh two. On a weekly basis we can see that prices struggling every time it gets up to that oscillator and change line. Now I say every time there's really only been two times here. Since about the February time frame. The first was on February 17th and the second happens to be this week out there. So we know that that one fifty five fifty nine one fifty six area is a real key area of resistance out there. When we take a look at Moderna if we take a look at its dance steps out here is stamp step show that we are in day number two of retracement. Last time we had a retracement was a two bar retracement. The time before that was a two bar retracement. Of course the time before that one that was a booger. That was a seven bar retracement out there which is kind of unusual but obviously tells you about a sustained move lower but we're just taking a look at what the normal dance steps are. So this suggests that you could see a bottom in Moderna between today and let's say well tomorrow's Thursday I'd say Friday but obviously today and Monday. So hope that helps you out you know if there's any other requests or any other questions you have about those stock charts just let me know I'll be happy to get back to you. The next question coming in from the golf guy and the golf guy is interested in taking a look at S. D. O. W. So let's punch those up on our screen out here at S. D. O. W. is the short I believe that is the short E. T. F. for the Dow out there S. Short D. O. W. Dow is Stevie is like a genius isn't he. Not so much but if we do take a look at S. D. O. W. and you're just looking for where price might find support. Well you look at the breakout level of twenty four ninety one we take a look at the daily time frame but you know Stevie doesn't like to look at these two time and three time ETFs for what is really going on the market instead with regard to the Dow. I would say let's go take a look at the actual charts and see how the equity future contract is trading. Now the first thing that I would suggest to you golf guy is that the Dow is not the place to go short. Why would Stevie say that actually I'm going to switch panels here and so you'll be able to visually see exactly what it is that I'm sharing with you. And that is the following. Now when you take a look at these four charts what is that they do see that is taken place so far today in the E. S. taking place so far today in the N. Q. and the Russell two thousand that is not taking place inside the Dow. The Dow equity future contract. And you're exactly right. Each of those other threes are trading below yesterday's low. The Dow equity future contract has not even made it to yesterday's low. It's a subtle signal but it's a really important signal. And it tells you about the Dow equity future contract right now. You can see that that new profile that is attempting to form is below price. That golf guy that is a bullish message that doesn't mean if the market is top tier and it's ready to crater so to speak that we won't get down there. But right now as we're taking a look at the technical indicators that's a bullish message. The mere fact that the Dow is trading below yesterday's low. The Dow is trading below today's low. The Dow is trading below today's low. The Dow is just having an inside day. That's a bullish message. The mere fact that it doesn't have a topping signal. But that's another bullish message out here. So don't go short the Dow. If you're going to go short. I try to stick with I guess the Russell 2000. The NQ and I'm not and I'm suggesting don't go short today. Not least right now not an 1137. Now I will go back we'll take a look at some other charts out here. But right now the NQ is holding the top of that profile. And of the three new profiles that have been formed out here. That's one that I'm telling you is solid. We don't need to wait till tonight to figure out whether that's a profile that's going to form or not. So and that was also had form when this formed yesterday. When it formed last night I didn't see it because I've got family in town so we're hanging out. Is that that's also a bullish signal just like we're taking a look at inside of the Dow. Now let me switch back to those white background charts. You've got a mind of your own you've just suggested what I see you may see something different and just say hey I want to go short the Dow. So we take a look at the intraday charts out here just to look for any kind of signals what do we have. I don't have I've got a wave seven top on a five hour time frame chart with price consulting with inside its profile. With that tells me golf guy is thirty three four ninety two is a key level of support that must fail to even signal potentially taking a short position inside the now we're going to future contact we come back we'll finish take a look at the Dow and of course any other questions that pop up between now and then we'll be right back. You might think that if you want to be successful at trading in the stock market you're going to need a crystal ball after all it's impossible to predict the future right. 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market to stay on top of stock patterns you can take advantage of sign up for the Fibonacci 24 seven newsletter at tfnn.com when you subscribe you'll get a weekly report from veteran day trader Larry Pezzavento on stocks you need to pay attention to and you can trust Larry's analysis after all he's got 45 years experience as a day trader Larry will also provide daily charts videos and data on the key markets that he's tracking expect notifications from Larry on market movement you need to act on at any time first time subscribers also get a 30 day money back guarantee if you're not satisfied let us know and you'll get a full refund within 30 days of signing up subscribe to the Fibonacci 24 seven newsletter today tfnn.com educating investors are China shares hot or not if you trade China shares now may be time to take a closer look trade CHAU or CHAD directions daily CSI 300 China a share bull and bear ETFs China shares in either direction visit direction investments.com today an investor should consider the investment objectives risks charges and expenses of the direction shares carefully before investing the prospectus and summary prospectus contain this and other information about direction shares to obtain a prospectus or summary prospectus please contact direction shares at 866-476-7523 the prospectus or summary prospectus should be read carefully before investing an investment in the funds is subject to risk including the possible loss of principal the funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor and foreside fund services LLC this program is brought to you by Vista Gold traded on the NYSE American and TSX under the symbol VGZ Dow equity future contract during that break for the golf guy I switched over to the NQ there weren't any patterns in there weren't significant patterns inside the Dow equity future contract and I kind of cover that and said hey don't short that short one of the other ones now let's take a look at the NQ which has been one of the weak links out here what came on the air the only bottom pattern really that we saw out there was coming from the 15 minute time frame chart but and that's that's fine like the 15 minute chart here as we take a look at the 830 morning form the TD 9 count top that led to this move down here which was a TD 9 count bottom and now what we have is new profile so since we first took a look at this chart we now have a new profile that is formed so your resistance level is 13068 that being said I still would expect that lease price to spike its red oscillator and change line right about the 13080 ish level I say 13 I'd watch 13 08375 not to be granular or exact but if if price is going to at this we're going to see a further rally and if this is just a little counter trend move interday 13 08375 is where price should find resistance and then resume its way lower 13 08375 is the effigy pivot point out there I'm not showing that on a different chart out there and just wanted to make sure that I provided you with that data and that number out there so that's pretty much all that I see with regard to going short the end queue you'd really need to see a close below 13 005 what is or at the low of today at least and negate that TD 9 count bottoms 13 019 so I'd go 13 05 that's the breakout level on the four hour time frame chart for the end queue that is out there so I believe we have been through all of the questions which is a darn shame because I wanted to do more time here on the show we are going to do more time hey let's go take a look at the New York Stock Exchange Oh I know we need to do natural gas I see I'm going to change charts for this one so let's change charts going to look at two things my first I'm going to go to natural gas not this New York Stock Exchange chart let's go back to that market update chart let me just expand out the March contract I would look at the daily time frame here for natural gas so we've spent a little bit of time this morning discussing the bullish and bearish TAS market profile levels out there and what natural gas is done and where this really comes in hand whether it comes in handy in many different ways but when you have closed below the bottom of bullish structure profile for at least two consecutive sessions and natural gas did that it did it on Monday and it did it on Tuesday that says okay it's met that requirement if this is just a counter trend move and we don't know whether it is or not days not over it's only 1145 but if this is just a counter trend move and natural gas where it finds resistance is the centerline $2.19 today's high 2.197 so that is a very key resistance level for us to continue to watch if price again above that does mean we're off to the races but it does mean those you're off at least to the next race that would get you up at resistance at $2.34 out there so that's pretty much I think all that I really wanted to share with you with regard to a natural gas out there you got to watch that $2.19 area for some clues out there. Dan inside the Tiger's Den grain elk I want to take a look at SMCI so I will do that momentarily Dan I'll just come over here in the New York Stock Exchange Advanced Client Oscillator screen again remember the Advanced Client Oscillator tells us helps us when price gets into an overbought or oversold condition for the general markets once you get above the plus 150 line that's centerline that you're taking the center the second panel that you're looking at on my chart here which it did it got above plus 150 that tells us we are an overbought condition that conditions clearly being worked off a two to three day pullback is a normal occurrence out there and quite frankly the New York Stock Exchange is still in bullish territory it's still above the zero threshold level out there so I just wanted to also share that with you now let's go and take a look at the request the requesters from Danny wanted to take a look at SMCI so let's go ahead and get those charts here fire up SMCI let's get rid of the over there because that's not going to help and SMCI Dan says Steve oh just a question mark so I've got this instrument here is trained at 10726 it says 10712 on my screen but it's not correct again some of these instruments I'm just getting some slow data feeds I don't know why it doesn't really matter what is trading below is the green oscillator and change line and with inside its profile and that's really just consolidating with inside the area of 10281 Dan up to 1836 it's a green oscillator change line that it's trading below it doesn't guarantee that we would get down to 10281 but that could or should be its target the bottom of that profile if I look at the weekly timeframe chart out here no topping pattern at least not just yet but if this week that would mean tomorrow we do end up with a bearer shooting star candle then you would get a confirmed weekly roadsman dominicator top now the signal quite frankly Dan would be neutral neutral because what you say Stevie you got a top and now you're just saying neutral you're confusing me I'm trying not to confuse you the reason why I say neutral is because price is trading above resistance the resistance of the top of its profile and above a green oscillator and change line and those are just simply all out bullish conditions and you've got a top so the only real call that I can make is a neutral signal we take a look at the monthly timeframe the monthly timeframe tells us that on a monthly basis if we were to get a bearish reversal candle then we would go ahead and have a roadsman dominicator top it's only April 5th and even though it shows up as a shooting star it ain't a shooting star we got a long way to go and what took place last month is price closed above its TD9 count top and that suggests a strong upward momentum move in the stock what do these guys do here Dan, a super micro computer so what did you do folks out here with regard to this instrument well you got that daily consolidation that's going on let's look at a 30 minute chart out here I know Dan likes the intraday charts we take a look at the 30 minute chart what we have out here is a TD9 count bottom that is likely to form at 11 at 12 noon so that'll be our number nine is most certainly going to complete out there this suggests that at least on a 30 minute basis Dan we ought to see price move up to 10839 10928 or maybe 11017 out there so good looking the stock chart out here at the moment just a consolidation on the daily timeframe with regard to its dance steps this looks like this is going to be day number two of a pullback here and they typically last two to three days most certainly that's what it's done since it's made the aloe back in the first of February so hope that provided with the information looking for if you need anything else just pay me and I'll be happy to get that for you the next request out here is from a guppy let's take a look at one of his favorite stocks BBAI so let's go take a look at it your thoughts on BBA it is pulled back to both the two hundred and twenty one day simple moving average is this a buy so you've got those levels I'm not going to put those up on my charts out here we took a look at the daily timeframe this top with the TD nine count top it says I want to then pull back to support well it tested the level of sport yesterday which were the top of the profile held today that failed that moved it down to the red oscillator and change line you really in the guppy need to know where the end of day chart is going to print the end of day chart because the price closed below that red oscillator and change line that's a two eighteen and let me see see we probably don't even have a accurate price right now we're two seventeen okay so we're just below that red oscillator and change line the guppy and if you do close below that which is about two eighteen two seventeen price should move back to the other area of support now it's not showing on this chart is the new profile that's attempting to form so I'm going to go ahead and switch screens for you just so you can see it maybe you grab a picture of the screen inside the tiger's den I don't know but here what you'll see is the bottom of that profile is at a buck ninety eight that's the level that you want to continue to observe if price were to close below that then we're likely going to go head back and test those lows from March twenty but that's your area of support a buck ninety eight hope that helps you out and thanks much for the request see roads with T.F.N. right back if you're looking for potential trading setups in the stock market then rocket equities and options report is a newsletter you should try Tommy O'Brien delivers options and equity trades when the markets present them using a combination of fundamentals and technicals sign up for rocket equities and options report today with a 30 day money back guarantee so you have nothing to risk for all the details and to start your subscription today visit the front page of T.F.N. dot com T.F.N. educating investors you might think that if you want to be successful at trading in the stock market you're going to need a crystal ball after all it's impossible to predict the future right like any endeavor in life before you decide it's impossible get some advice from the experts you might find that it's not so impossible after all for daily market overviews that give you direction on the key indices selective stocks and commodities subscribe to the opening call newsletter at T.F.N.N. dot com the opening call newsletter is written by Basil Chapman creator of the trading methodology known as the Chapman wave the Chapman wave up down sequence gives you an edge in identifying price turns finding the peaks and valleys in stock prices get the opening call newsletter by Basil Chapman and your inbox every day first time subscribers also get a 30 day money back guarantee if you're not satisfied let us know and you'll get a full refund within 30 days of signing up T.F.N.N. dot com educating investors everything in the universe is governed by the Fibonacci sequence this mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market to stay on top of stock patterns you can take advantage of sign up for the Fibonacci 24 7 newsletter at T.F.N.N. dot com when you subscribe you'll get a weekly report from veteran day trader Larry Pesavento on stocks you need to pay attention to and you can trust Larry's analysis after all he's got 45 years experience as a day trader Larry will also provide daily charts videos and data on the key markets that he's tracking expect notifications from Larry on market movement you need to act on at any time first time subscribers also get a 30 day money back guarantee if you're not satisfied let us know and you'll get a full refund within 30 days of signing up subscribe to the Fibonacci 24 7 newsletter today T.F.N.N. dot com educating investors T.F.N.N. has launched the Tiger's Den hosted at Discord T.F.N.N. has been educating traders for more than 20 years with live programming hosted by a variety of professional traders during market hours the Tiger's Den available to all tigers and Tigris's for just $1 for the year there's no catch or added costs when you join our community of traders sign up today and become a part of this educational community of traders just visit the front page of T.F.N.N. dot com back up folks so the last question coming in from Brent in Martinez, California Brent trading the five minute chart here for the Russell 2000 and just asking you know what I see here or any of the other charts so Brent had taken an A to B equal CD to the downside pattern the five minute time frame chart that was also confirming a rogement to indicator bottom and did that at about 11 10 this morning and I've got price that is just simply trading with inside its profile now I have an A to B equal CD that it likely completed also to the upside on the five minute time frame the retracement here at 11 30 was about 83 percent I don't like it to get much beyond point seven eight six out here so it doesn't really matter at this stage right now prices back inside its profile and so you've got resistance around 17 58 and support in the 17 54 17 55 ish area out there but of course you get a close below yesterday or this morning's low you know this is likely headed lower with your other with regard to other time frames I've got a bar number eight that's forming on a 240 minute chart that bar doesn't complete till two so what have any kind of TD nine count bottom till early this evening I don't have I've got the 15 minute Roachman to indicator bottom pattern price struggling at Saucer and change line and really has it so below the bottom of its daily profile which is 17 62 so on the area to note as well I'm just not getting a lot of confirmation of a bottom pattern here Brent on any of the other time frames when I say any other time frames I do have one on the 15 I don't have one on the 10 I don't have one on the 30 I don't have one on the 60 I don't have one on the 120 minute chart out there so I hope that that helps you out but pay attention to train with the you're sticking with the five minute charts out there you know these patterns work on that as well but just stick with the consolidation that it's in as we speak so I do hope that that helps you out there was a request that I was covering earlier and it was BB AI and I was talking about one set of charts and I was I'm not anyways that's what I mean we know I know that we covered it but I just want to go ahead and populate the the white background charts here because it does show where prices point back testing that red oscillator and change line in that 218 area and that's one of the levels that is suggested that you pay attention to so folks thanks much for joining me today we got great programming lined up thinkorswim is up next I'll be back with you tomorrow at the normal time 11 o'clock for our last training session of the week have a wonderful Wednesday be safe out there and I look forward to seeing you again tomorrow take care enough