 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 morning folks welcome to the December 19th the terrific Tuesday edition of today's Trader's Edge show I'm your host Stevie 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 and let's make sure we have an extraordinary one Now 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 this 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 those bowls and bears what those buyers and sellers are communicating Till you and I had just passed 11 o'clock in the morning I want you to know I'm absolutely grateful for your presence here But even more important than that and that's this during this next 53 minutes. I am here to serve you So feel free to pick up that phone dial on in at eight seven seven nine two seven six six four eight Now if you've got a question, but you can't dial in we've got you covered go ahead and send me an email Send that off to Steve at TFNN.com inside the subject heading Please put radio show question and of course if you're inside our Tigers down well then any in every ping we'll 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 the show a sea of green out there all the us indices that we track are trading the upside as are each of the sectors Inside the s&p 500 dows up hundred ninety nine points half a percent or nearly half percent for the s&p or 22 points 69 points for the Nasdaq 100 one and six tenths percent for the Russell That's a 32 point move semi-zero up ten trannies up 113. You've got gold up 15 bucks Silver's up 31 cents You've got lights recruit up a buck 15 natural gases off nine pennies 30 treasure printed out 124 even Steven That's up 24 ticks leading to charge dollar wise the upside You've got gin medical of 25 bucks micro strategy of 15 black rock up 13 United rentals up 13 Adobe up 10 to the downside is n-bitty off nine bucks super micro down six bucks sit Sit side time maybe side time corporation off six bucks regenerate down six North and corp down a four bucks. So we've got some movers and we've got some shakers But let's begin our day by taking a look at what's going on inside the equity future contracts We'll look at the daily and the weekly time frames momentarily. I'll change my screens We get to those white background screens up there at the top row You're gonna see the daily time frames bottom row is gonna be the weekly for the ES mini today is going to become bar number eight of a TD 9 count tomorrow if the ES mini closes above 4774 you will generate or it will generate a TD 9 count top now that TD 9 count top Pattern does not complete until Thursday Boy, the ES mini is suggesting to you and I is that maybe the high for the year is about to come in Hmm something to think about if you take a look at the weekly chart here for the NQ I'm for the ES mini. It's also in bar number eight It's also got wave number seven as a potential topping signal out there So all that goes hand-in-hand now doesn't mean that the that it so here's what I would also say if The ES minis TD 9 count top that is likely to generate But we won't know until the end of business tomorrow, but it's likely to generate If that gets negated then we probably do run higher into the end of the year Which is when the weekly chart for the ES mini would complete Complete its TD 9 count top kind of makes sense out there. I hope so it makes sense to Stevie That's all that we need to need at this moment in time if we take a look at the NQ today is going to complete bar number nine That means you've got a TD 9 count top that is going to form today inside of the NQ Now that pattern will complete tomorrow that should take price back to its oscillator and change line That's currently printed at 16 770 turns out on the weekly time frame We have bar number eight forming as well So we know that can be a top now in order for bar number nine to complete that means that next week the NQ has to close above 16 234 so some downside movement, but you know 700 800 points something like that, but nothing Substantial nothing really really significant at least that based on the new numbers that I'm taking a look at So we've got a TD 9 count top that's going to come confirm today inside the NQ So definitely something to pay attention to in the case of the Dow equity future contract is bar number eight That's completing today that says just like the ES mini that we should get a TD 9 count top by Thursday Again, that would first target the downside would be that oscillator change line the weekly time frame also bar number eight So we've got everything really sinking up here now There are also two thousand is in a world of its own and that world says that hey today's going to become bar number seven Likely but what it has already it doesn't have already what it needs is a bearish reversal candle That would confirm the uh sell the d-point pattern It's got an a to b equal cd pattern that's in play right now Just waiting for a bearish reversal candle if we got all four of those the TD 9 count tops inside the ES the NQ the Dow and the Russell 2000 were to generate a Uh a sell the d-point pattern that we very well may be looking at the highs for the year Inside of the equity futures out there. We may what else do we need in order for that to take place? Well, I'll tell you one thing that we need and that's for the semiconductor index to also generate a top So if we go over to some of its charts now, this is the socks that we're taking a look at And here I've got multiple time frames up here The one we're really focused on right now is the daily time frame and what you can see right in effect I'll expand out the daily chart the daily chart does have an a to b equal cd pattern to the upside If you take a look over that's potentially headed to and it may head there It's much higher than what we're traded right now, but here's the a to b point out there I'll just simply move this over so as I can grab it move that over to where that c point that hammer candle And here the one to one price projection will get us up into the 40. Let's call it the 4300 area But and this is a but this is a big but Um what what needs to take place either today or tomorrow in order to generate a TD 9 count top Is price has to spike above the high from december 15th and that high out there That's up in 416192 and the question is if the summaries do not form a topping pattern Is the market likely to top? That's something you should go back and take a look at your own charts and do some research on out there But we'll certainly be paying attention to the semiconductor index and what signals it generates for us Now what we'll also do if we take a look at some of the short term time frame charts You've got a TD 9 count top on the 130. You've got a roadsman dominicator top on the 65 As well as the 30 minute time frame charts out here So the short term time frame charts for the summaries are starting to show some topping signals But we really need a move above that high from december the 15th out there in order to generate some type of topping pattern If we take a look at what's going on underneath the covers or at least the top eight holdings with inside the semiconductor this is as of This is as of last night's close out here. Just want to make sure you get to the right choice Broadcom is in a number one slot out there It needs a spike above yesterday's high to get to bar number eight of a TD 9 count in the case of amd It's already done that job. It will complete a TD 9 count top today If price closes above let me give you that number That number is going to be 138 19 so you want to watch that nvidia price is backing up today Why is it backing up because yesterday's rallyer and right up into its TD 9 count breakdown resistance level 503 35 Is that a top? It can be a top getting back to your breakdown resistance level. Steve roge with tfn We get back to this break. Let's take a look at some of the requests that have come in oxy Devin energy out there microsoft from nancy tmsny from jack And nvidia from john. We'll be right back Tigers tis the season for leveling up your trading skills Basil Chapman is happy to offer all opening call subscribers a free subscriber webinar wednesday december 20th 4 p.m To 5 30 p.m Easter basil Chapman will be discussing major sectors and stocks that are coming off their lows in order to prepare your portfolio for 2024 This is a free webinar for all opening call subscribers If you are not yet a subscriber visit the front page of tfnn.com today to secure your spot for wednesday december 20th tfnn educating investors If you're looking for potential trading setups in the stock market then rocket equities and options report is a newsletter You should try tom. Yo, brian 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 tfnn.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.com The opening call newsletter is written by basal 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 basal 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.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.com and try mastering probability 30 days risk-free today tfnn educating investors Toll free at 1 877 927 6 6 4 8 Internationally at 727 873 7 6 1 8 So we got the charge for Occidental petroleum up on our screen. This is for Alton the next two are going to be for Alton His emails came in late yesterday So so in the case of Occidental petroleum on the daily time frame what we can see out there is nice td9 count bottom That formed actually completed on December 13th and formed on December the 12th What transpired here on the trading day of December 14th was a gap up Above its barestructured daily profile that is a bowler signal now that candle has volume of 17 million shares You're trading into that today with 2.5 million shares. So you got lighter volume if you actually closed over that high that high being What the heck's going on with the keyboard here And the mouse that high being 59 68 you would actually generate an a to b equal cd at the upside But we don't necessarily need that in order to understand where price is likely headed to and it's likely headed to 60 72 With price above the top of barestructured profile above its oscillator and change line likely wants a target 60 72 and 60 72 Alton is the td9 count breakdown level. We look at the weekly time frame chart It's very obvious what Occidental petroleum is doing and it's been doing this for quite some time on a weekly basis This will take us back into the march time frame and from march Through december we have been in one large huge consolidation range out there And basically the consolidation low was hit at that td9 count bottom From last week out there. What price should do here is should at least go target The top of its profile the center of its profile and its oscillator change line That's in the 60 55 60 71 price area And on a monthly time frame chart you got to consolidate within side It's both a structured profile as well What price did here this month as it got back to that ball of structured area 54 84 It's really between 50 05 and 54 84 out there So Occidental petroleum does suggest that it wants to at least go target 60 72 you get above that You could be looking at 65 14 to 69 24 So Alton I help that help Alton I hope that helps you out with regard to what Occidental petroleum charts are telling us from a technical standpoint Devon energy is another one of your requests and if Devon energy can close today and tomorrow Above the top of its profile. That's printing out at 45 40 They should continue to move higher now It's not like I have a bottom pattern out here with regard to Devon energy But on the other hand I do it looks like an a to b equal cd pattern Let's go ahead and draw that in here as best we can so we'll draw the a to b line We'll move that over to the c line Let's see if it actually made it all the way down to that price projection area And in fact it got close enough it got close if we got that bullish reversal candle on December the 13th So you've got to buy the d-point pattern. You've got a rejection of a swing point now that rejection of the swing point is the one from uh october Sixth out there now that swing point did volume of 11.5 million shares Yeah, I was tested with 13 million that wasn't a good test. It was tested with 24 million that was a good So we don't have a test of rejection on lighter volume But nonetheless the price able to close above the top of that profile That would suggest that we're likely targeting 49 35 and 49 35 is it is its td9 count breakdown level However, and here's the however you got a battle at 4607 and 4607 happens to be the bottom of that weekly profile So that's where our real battle is at uh altern so 4607 if price can clear that Then the 49 35 area looks very attractive to us. That's what I see when I take a look at devon energy Nancy wants to take a look at microsoft and Nancy has identified the exact pattern that is in place out here And that's a consolidation trading range and that consolidation trading range Nancy as you know is on the daily time frame That daily time frame has a bullish structured profile. So its support zone is between 365 16 and 366 76 that level has been tested once twice three four five Six times six times in about the last two weeks out there You think that's a very strong support level Stevie thinks it is the charts think that it is and only a close blow 365 16 Would have us entertain the idea that the Roadsman dominicator top the td9 count top that exists on the daily time frame is going to take us lower right now Those tops have just simply sent price back to support and support is held each time Yes, you are in a trading range between that Td9 count top basically that level has been tested but right now with inside his profiles Are there any trade setups setups here? I don't think so you are too close to resistance with resistance being 374 75 out there So that's what I see now. You're also trading into or it's trading into a recent swing point That was from december 13th that swing point has 30 million shares So far in about the first two hours of trading we've done four points Let's call it five million shares. You're moving into that swing point with half the volume out there I would not expect microsoft to bust through this consolidation So I'd look at trading something else nance or else if you're going to buy microsoft And take some kind of trade you want to do it at that 365 ish area out there And if you were going to sell you'd be selling i'd say at the 377 93 or that's at green awesome and changeline I don't have anything here to suggest that that's what microsoft wants to do and get up there So great spotting for you nancy that yes, you are inside that trading range You can just look at look at look at those daily profiles and use that for your targets To the upside and to the downside. Let's go on to our next request out here. This coming in from 777 I can't be double. It's got to be a 777 Jack out there and that is to take a look at ticker symbol Now for this one, I'm going to need to get my other screens up because I'm sure I've got nothing but delays here The ticker symbol is tm sny And tmsny is trading at about 89 92 actually 90 05 now that we take a look at our other screens out here And I don't recall if there was actually a question jack with regard to that I'll have to post those charts after the show Before you nancy now. I'll be absolutely be happy to do that. So right now. We take a look at this is uh, Tomino's ag sponsor So I don't know what this represents What currency I see a you know number of gaps out there I don't have a really a clue and with regard to liquidity on this basically there's zilch not a zip For example, we take a look at yesterday's trading action. There were 2158 shares that traded hands out there So if you're looking to trade something that's liquid you look elsewhere because this is not very liquid at all But with regard to what is it doing here? Look at how that is held that green oscillator and change line It has strong momentum to the upside you probably didn't in stevie jack to tell you that but that certainly is what's going on technically out here Now today is bar number seven of a td9 count pattern You could get a td9 count top that forms between tomorrow wednesday and friday of this week out there We take a look at the weekly time frame chart. You're in bar number eight of a td9 count A top can take place between this week and the uh began the first week of uh january out there And if we look at the monthly time frame chart the monthly try to take out a swing point This swing point is from the month of june of 2023. Now the volume there was um Not applicable 73 000 shares that's a monthly chart 73 000 what's called let's let's round it up then we can't round them 73.5 73 000 shares this month so far you are at 34 000 shares it is still somewhat early in the month not too early though right today's the 19th Happy birthday to my dad may he rest in peace out there And so um what's that looks to me like this wants to continue to move higher But you may get a top come the um come the end of this week out here And that would just take price back to its oscillator and change line What you can see out here jack is price needs to close below that oscillator and change line That's really pretty a 950 by the way in order for this to tell you that there's any kind of potential top that you need to be concerned with Steve Rhodes with tf&m. We'll be right back. We're gonna take a look at nvidia. We're gonna take a look at et And pr qr. Of course, I'd like to look at your request as well. Give us call it 877-927-6648 Tigers tis the season for leveling up your trading skills Basil Chapman is happy to offer all opening call subscribers a free subscriber webinar wednesday december 20th 4 p.m To 5 30 p.m Eastern basil Chapman will be discussing major sectors and stocks that are coming off their lows in order to prepare your portfolio for 2024 This is a free webinar for all opening call subscribers If you are not yet a subscriber visit the front page of tf&m.com today to secure your spot for wednesday december 20th tf&m educating investors The gold report As a precious metal gold is still king It continues to hold the most effective safe haven and hedging properties across the global major trading hubs of the london otc market The us futures market and the shanghai gold exchange the gold report tom o'brien publishes his weekly gold report every monday morning for subscribers Consisting of coverage of the xa u hui gdx the dollar bonds the south african rand As well as 25 different mining equities with specific buy sell recommendations The gold report New subscribers get a 30-day money back guarantee so you have nothing to risk subscribe To tom o'brien's gold report newsletter now at tf&m.com 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 tf&m You'll get advice and guidance from the authority and technical market analysis And it's not just dry tedious text either tf&m airs live financial content streamed live on tf&m.com and tf&m'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 tf&m.com or on tf&m's youtube channel and become the investor You were born to be tf&m educating investors Tf&m has just launched their new trading room the tiger zen hosted at discord Tf&m has been educating traders for more than 20 years with live programming hosted by a variety of professional traders during market hours And now they are expanding their reach with the tiger's den available to all tigers and tiger's for just one dollar for the year There's no catch or added costs when you join our community of traders in the tiger's den You can look over the shoulders of tom o bryan and the other tf&m hosts while they analyze charts during their live tiger tv programs And join an interactive trading community with hundreds of members Exchanging ideas interact with other tigers and tiger's as they share trading ideas news analysis and discuss the market action All trading day even at night and on the weekends the tiger's den at discord is accessible on mobile or tablets as well So it's always at your reach to sign up today and become a part of this educational community of traders Just visit the front page of tf&m.com Don't forget you can listen to tf&m live on your mobile device 24 hours per day Go to tf&m.com and hit watch tiger tv That's tf&m.com and hit watch tiger tv So john c the tiger's den wants to take a look at nvidia. What do we know about nvidia? Beautiful td9 count bottom that formed out here. That's taken price right back to its breakout level That's at 503 35 now the swing point out here the swing point. It was from november 20 That's at swing point high that did volume of 41 million shares I believe you have 41 million shares and yesterday you moved into it with 41 million shares So it's not like you're moving in with light volume But price did find resistance where resistance was at 503 35 now price is still above It's a bare structured daily profile And it's still above its green oscillator and change line. That means conditions are neutral Now the reason why I say they're neutral is because getting back to a breakdown level can be a top Doesn't mean it's a top, but it can be a top what you're looking for is some of their kind of signal that it is Well, if today price closes below 492 22 and right now we're 491 32 and it does it with less than 56 million shares. Oh, that's not the swing. Hold on man here 491 81 if price closed below 491 81 I don't know what I gave you at first, but that's the right one 491 81 And it does less than 41 million shares We'd have a test rejection of swing point on lighter volume. But guess what? It's on 23 million shares already today. So that ain't gonna happen That says my my system here shows 17 million But my other system that's more up to date in accurate has got 24 million shares already So that's not going to be it may be rejection of the swing point low, but it won't be a A It's with with volume that would say that at least the bottom of that swing point gets tested again So overall we're going to go with the neutral signal on the daily time frame for nvidia on the weekly time frame In the case of nvidia price also running into resistance at the top of its bearish structured Weekly profile and that's up at the 505 48 levels two roads with the indicator tops up in that range We've got a td9 count top on the monthly time frame chart We get all that did was took price right back to the support area of its bowler structured profile But it's also got resisted 50266. So here's what we can say about nvidia john It's up at resistance whether it's daily. It's weekly or it's monthly out there If we're looking for some kind of a turn I guess we turn to the short term time frame charts I don't guess we would turn to the short term time frame charts and look for some kind of signals So let's get over to active date out here. And what do we have? Well? We've got a roadsman to indicator top that formed yesterday at 4 p.m You gap to the downside this morning or below profile levels out here um So what do you watch? Well, I'd watch the law I'd watch the gap down from this morning and it probably starts trading below 488 95 We're headed lower if it does with more than 8 million shares, which um Is not likely outcome there You know that need to form potentially and I'd be going with the a to b equal cd pattern But it would suggest to move back to 469 07 So you've got the first crack in the armor So just simply got to go back to the daily charts out here Really rely on those at this stage of the game and watch the profile Let's watch the support watch the profile levels Watch the oscillator and change line and that's what I've got for you john with regard to nvidia I hope that that helped you out as far as that review rich for life I like that rich for life wants to take a look at et Go home out there, but when we take a look at et it has nothing to do with going home That's energy transfer. We take a look at energy transfer. What do we see out here? Now that's a great question I'll tell you what we see on the weekly chart We see a good old-fashioned consolidation with inside profile levels So let's start there You're consolidated between 1328 at a support area and 1409 as a resistance level if you can close this week Above 1383 odds favorite move to 1409. Let's open up the daily chart Let's see if we can figure out what this is doing if there's any pattern out here And voila, there's not so what is it done here? So you've got a nice td9 count top that formed on october 20th That swing point high did volume of 9.8 million shares. You traded into it yesterday with 16 million shares That says the price should be back up there It hasn't gotten up there. The low is at 1398 the high of the day so far today is up at 1393. Let me make sure of that The high of the day is 1393 So price should get back up there and at least test that swing point now There's really no a to b equal cd pattern to the upside Although let me just check on the retracement of that c to d like give me one second here I'm going to do this off screen because I can use these dva to be equal cd tool I'm just looking to see on that c point. It was a 79 retracement I'm referring to this hammer candle What I'm looking at is this hammer candle from december 11th and comparing that with the low from november 1st So it's a it's a little bit above 0.786, but nonetheless We'll go ahead and give it the a to b equal cd pattern out there So if price can close above 1395 that's only going to get you up to 1416 1416 is going to take us up to that swing high from october 20th. That swing high is 1415 out there So this is where all your commotion is right now It's dealing with that swing point. You did move into it with some volume yesterday So if you're in this trade, I'd stay with it. Oh, you're looking to re-enter You're looking to re-enter So you're looking to re-enter out here while price is up at this resistance even though it's coming with volume I hesitate to suggest you try to jump on board now Where's a good re-entry point and that's a great question So you sold I think you recently sold and that was a good move out there Knowing that you're coming into resistance I'd have to say I go back to the daily timeframe I'd say if you get price to pull back simply because it did it two days ago Pull back and test that oscillator and change line that would be your entry if you're really looking for that But just realize on the daily and the weekly The weekly's got that consolidation the monthly chart looks pretty good, but it's also dealing with profile resistance. That's up at 1388 out there So I'd have to come back to the daily oscillator and change line So the only thing I've gotten right now that's printed out 1365 so rich for life I hope that helps you out and you have a great day Day and inside the tigers that once they could pr pr qr out there So let's get those charts fired up here and pr qr I should have this memorized by now, but I don't that is pr qr therapeutics, that's why I don't have it Memorized but we take a look at what is this doing? It looks pretty bullish to me Here's your issue not really your issue Dan, but here's the stock charts issue It's called two dollars and 29 cents. You're trading at 225 right now Why is it 229 stevo because at 229 is that weekly titty nank out breakdown resistance now You'd love to see price close above that why well price closes above that Then I don't see any other resistance out here Other than yesterday's high So yesterday's high thus far is a wave number seven top out here And only a price pokes above yesterday's high will that get extended the poke above would have to be somewhere above 2.28 So 229 would accomplish that task out there If you don't have that you have a valid top right now With on a daily time frame with price running into resistance on the weekly time frame and price dealing with resistance Potentially on the monthly time frame as well. So all of that could be suggesting a retracement Now the retracement or the pullback would be to 205 or 209 We get back from this break Dan. I know you want to look at the weekly and the monthly and we've done that Let's just take a look at that 30 minute time frame chart See if there's any kind of signals there that we need to keep an eye on steve roge with tf and n 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 palm 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 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 tf and n dot com tf and n 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 tf and 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 tf and n dot com educating investors Are china a shares hot or not? If you trade china a 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 a 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 eight six six four seven six seven five two three 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 four side fund services llc This program is brought to you by vista gold traded on the nyse american and tsx under the symbol vgz Welcome back folks. We're looking at the 30-minute chart here for prqr We don't see any sign of a top a topping pattern at least that is uh to speak of So there's nothing there for me to really assist you with Here's what here's what it looks like is going on prices dealing with this huge downdraft on a weekly basis That was the week of march 31st volume on a weekly basis there was 16 million shares as an example Last week you were trading up into that area with 995 000 shares So this could be a very tough area to take out the resistance So 229 is going to be your key number out there being closed above 229 Ideally you'd like to be doing that with more than 2.3 million shares So if it's too early to say what we're going to have this week It looks like you know yesterday was about what 300 000 shares So you could be moving in with much with lighter volume You know if it stays with that volume dan you're looking at what 1.5 million shares or less than that So that's about all that I can see out here for prqr I do hope that that helps you out and as always thanks much for taking the time to put in requests The next request coming from um s&p inside the tiger's den and s&p would like to take look at uh Jabba the hut hut or pizza hut out there is uh what we're going to take a look at hut is the assemble And that's the hut eight corp out there. It ain't pizza hut. Oh well, we take a look at hut Eight corp out here. It's having a beautiful day as it takes out prior swing points out there So that's what doing on a daily time frame not setting up any kind of a to b equal c That's dvcs at this stage of the game Out here. So where is it headed to? Well, I'd have to identify the next level of resistance So let's pull this back just a tad. Where's the next level of resistance? So we have one at 1675 I'd actually put one right out here at a swing point. So on a daily basis, it would be the high of august 29th That has 13.3 million shares. You're in it already today with um 8.7 million. So that's the way you like to take on swing points. So that high out there is where it's gunning for That's at 1370 the high of the day so far has been 1369. How does that work? So it's gunning for the uh, you know, so now what he now what he do so volume wise You're taking on that swing point with volume Absolutely So even though it hasn't tested the top as long as it closes inside that swing point, which it should It should at least go tag that top will take out 1370. I don't know But if it does take out 1370 s and p then a price target would become 1675 and what we can actually see out here on a daily time frame It might be easier to do it on the weekly Yeah, I'm just going to do it. You see a sideways consolidation, right at least dbc's one So let's go ahead and draw that pattern and let me get my rectangle Bar out here and so I mean you could actually get it all the way up here And you could just well, that's not that's this week. So we're not going to here's the consolidation basically So you've been in this nice consolidation So that's what we're going to use for it And I'm just simply going to move this consolidation pattern because if you do break out of it Then you have a measured move and that measured move would take us up towards that 1820 level 1820 is the weekly TD 9 count breakdown level. So we do like what we see here volume wise You just want it to finally take out that resistance level the high of august 29th And if you do that, you'll have a successful consolidation breakout and that ought to take us towards it 1675 1820 level on a monthly time frame the next level of resistance is going to be its swing point out here from back in july And that swing point is anywhere from the range of well, I'll tell you what it is as I move that chart over That's anywhere from the range of 20 1625 up to 2275 out there So that's what I see when I take a look at java the hut if we look at a 30 minute time frame chart For hut out here. What do we have? We've got a rogment to indicator top Now price is not busted through a key level of support The first key level of support would be the oscillator and chains line price right now has found support there That's at 1301 the low of the day is 1304 If price is we also see a new profile formed yesterday below price. That is a bullish message as well So the 30 minute time frame it's got a top for sure But its overall signal is neutral it becomes less than neutral if price were to close below 1208 Why less than neutral because that would suggest to move back to 1022 We do not have that signal as we speak just yet. We're trading at 12 96 Which is below that oscillator change. I know that's not what it shows on my chart But i'm looking at my other screen out there So watch the bar here this close at 12 noon if you close below that getting back to 12 62 Would be in the cards for you. So that's what I see when I take a look at hut Hope that helps you out s n p and as always thank you for that request out there Now we don't have any other requests that are in the system. So why doesn't steve just take this Last three minutes. We've got in this segment here And just kind of go through some of the usual suspects or what is steve looking at So let's take a look at gold and the gdx. That's got to be on somebody's mind out there Now what we know about gold and the gdx right now and silver is that we've just got a good old fashion consolidation With inside its profile levels. So in the case of goldilocks, that's between 2017 90 and 20 62 90 out there If price were able to take out the high of 20 62 90 Do with more than 231 thousand contracts? You'd have a small a to b equal cd to the upside pattern in the case of silver Silver's got resistance up at the 24 79 level out there So until price gets up to that level, I really don't have much of a call in the case of the gdx The gdx has a couple of swing points that it's trading into which one's the higher one this one from a couple days ago That's got a volume of 36 million shares The prior swing point has volume of 33 million shares in the case of the gdx We're up right now with about 10 million shares a little over two hours of trading So it's moving into that swing point with similar volume not with more volume at least not yet not in steve's mathematical extrapolation here It's probably lighter volume a price is above right now The top of its daily profile the top of the daily profile gdx is 31 62 out there We're trading at 31 75 but close above 31 62 would be good But what we're really looking for here is we're really looking for a close above You know what I would really say I would really be using the better a to b equal cd pattern Is the one here that used the swing point of december 1st So if price can close above 31 91 out there We'll have an a to b and do it with more than 33 million shares We'll have a confirmed a to b equal cd to the upside Until that takes place. We just have kind of a consolidation pattern that is setting up right now inside the gdx And that match what we see we take a look at silver and uh gold out here So that's what I see we take a look at those charts. Let me close those down where we go to next What else is db looking at? Well, I'm also looking at the equal weighted etf. Remember where we began the show We were taking a look at the equity future contracts We're looking at the td nine count patterns if we take a look at here The top panel are the equal weighted etfs for the bottom panel. So for example, the upper left is q q q e w The equal weighted etf for the q's bottom panel is the q's themselves the q's are going to form bar number nine today The q q e w needs a spike above 1703 q q e w want to make sure that that has or has not happened 1703 today's high is 1712 Perfect So what we've got out here is we have bar number eight of a td nine count So the even we want without the reason why I want to look at the equal weight is because if we equal weight It's not confirming what we see in the weighted version The equal weight is usually the one that is the winner out there the winner winner chicken dinner But we're likely going to get a td nine now the q q e w in order to form that td nine count top tomorrow You need to see a close above 1703 no 116 30 116 30 would be where price needs to close above tomorrow Steve roge with tfnn will 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 like any endeavor in life Before you decide it's impossible get some advice from the experts You might find that it's not so impossible after all for daily market overviews that give you direction on the key indices Selective stocks and commodities Subscribe to the opening call newsletter at tfnn.com The opening call newsletter is written by basal 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 basal 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.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 tfnn.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 tfnn.com educating investors Tigers tis the season for leveling up your trading skills Basil Chapman is happy to offer all opening call subscribers a free subscriber webinar wednesday december 20th 4 p.m. To 5 30 p.m. Eastern basil Chapman will be discussing major sectors and stocks that are coming off their lows in order to Prepare your portfolio for 2024. This is a free webinar for all opening call subscribers If you are not yet a subscriber visit the front page of tfnn.com today to secure your spot for wednesday december 20th tfnn educating investors tfnn has just launched their new trading room the tiger zen hosted at discord tfnn has been educating traders for more than 20 years with live programming hosted by a variety of professional traders during market hours And now they are expanding their reach with the tiger's den available to all tigers and tiger's for just one dollar for the year There's no cash or added costs when you join our community of traders in the tiger's den You can look over the shoulders of tom o brian and the other tfnn hosts while they analyze charts during their live tiger tv programs And join an interactive trading community with hundreds of members exchanging ideas interact with other tigers and tiger's As they share trading ideas news analysis and discuss the market action all trading day even at night and on the weekends The tiger's den at discord is accessible on mobile or tablets as well So it's always at your reach to sign up today and become a part of this educational community of traders Just visit the front page of tfnn.com Welcome back folks. We're taking a look at the equated ETFs for the s and p the nasdaq 100 and the dow We're looking at the weighted ETFs for those same three So the issue here is really the rsp the equal weighted ETF for the s and p 500 There is no topping pattern that is in place out here and price needs to spike above the high from december 14th And that high out there is at 158 25 if price can so actually Price needs to close the day above 157 53 And then also needs to spike above doesn't have to do this today, but what it does have to do today No, no, no, no today's bar number seven. I take that back today's close must be above 155 41 So it looks like it'll do that That'll be bar number seven or a day behind The actual spy what then has to happen is price has got to spike above that would be between Tomorrow and friday price must spike above the 158 25 to possibly set up that td 9 count top for it The dow is going to do that e do w that's the equate for the dow. It's negated its wave number seven Top out here, but you're going to see you got bar number eight that's forming today It should confirm that pattern tomorrow the same thing inside the dow diamonds out there So that's what I see when we take a look at it What I see just to summarize as I see the potential for a top in place out there Keep your eye the semiconductor index see if that forms atd 9 count top And let's keep an eye on the rsp the equal weighted ETF for the s and p 500 as well Folks, thanks so much for joining me on terrific tuesday. Please have one yourself and I'll look forward to seeing you on wonderful wednesday Thanks again. Be safe out there