 The following is a presentation of TFNN. The Trader's Edge with Steve Rhodes. Oh, toll free at 1-877-927-6648 or internationally at 727-445-1044. The Trader's Edge. Now, Steve Rhodes. Good afternoon from TFNN. Welcome to the May 28th, the terrific Tuesday edition of today's Trader's Edge show on your host, 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 and of course the easiest way to do that is to always remember that life, that's right. Life is happening for us, not to us. That's right, we need to make that one little two by four shift. It means we can find the gift in every set of circumstance that life is going to toss at us. Today, you and I, we're going to go check on the circumstance of these markets. We're going to go figure out what the bulls and the bears, what the buyers and the sellers are communicating to you and I just passed one o'clock in the afternoon. I want you to know that I'm absolutely grateful for your presence here, but more importantly, during this next hour, I'm here to serve you. So feel free to pick up that phone. You can dial on in 877-927-6648. If you can't dial in, we've got you covered. Let those fingers do the walking. Go ahead, send me an email, Steve at tfn.com. Inside the subject heading, please put radio show question and in our Tigers Denwell, any ping will do. So let's go ahead and get this show started on terrific Tuesday. Of course, this is Tiger, Financial News Network. I'm Steve Rhodes. Welcome to Lush Show right now that I'll up seven points. So a flat market S&P up one, flat there as well. NASDAQ 104, 10th or percent, 31 points. Russell's up two points, flat there. Semi's down four points. Down three tenths of a percent. So flat is type market, spot volatility index not flat. Up 58 pennies trading at 1643 above its 50-day exponential moving average always says we need to be on guard when we see that kind of a setup out there. Gold trading back six bucks. Silver down 24 cents. Lights recruit up 61 pennies. Leaders to the upside, dollar wise. Amazon up 22 bucks. Chipotle up 16. Google 15. Mercado Libre 14. Shopify 8. Solution Inc. Up nearly seven to the downside. American Wood, which one is that? American Wood, Wood, Wood, Wood, Wood, Wood, A-W-A-M-W-D Woodmark Corporation. They're a very good entity. They do a lot of charity stuff out there, but right now they're getting hammered down nine and a half percent, nearly 10 percent, eight dollars in change. Keyser Life Science down 42 percent. Well, that's a stinger. That's off seven bucks. Roku down five. Arjenix down about five. Idex Labs off 350. Filtmore's down 360. So let's begin where you want to begin, and there are no requests out there. So let's begin where I want to begin, which I'm not sure where that is, but it is, let's do this by taking a look at the equity market. So what do we know about today and the importance of today and price? Well, or what are we doing today? And this morning, what the markets tried to do, let's start with the Dow equity futures contract. We'll go take a look at all four. But the Dow equity futures contract, in essence, stopped where it should have. If it was going to find resistance, which it did, we're looking at the 30-minute chart. So we're just kind of simplifying things. And on this 30-minute chart, we can see that little TD set up green horizontal line. That is resistance exactly where the rally stopped this morning, right there at that level. What's that level out there? That level, by the way, is going to be 25,694. So if the markets are going to make a concerted move to the upside, price will need to close over that on a 30-minute basis. Now, it's possible that I'm going to see you. We're going to see another nine count set up to the downside. But if we do, it's really just going to be slightly above the resistance level, slightly above that one. So you know where resistance is at inside the Dow equity futures contract. Look good. Got up there. Said not the first time. If we take a look at the NQ, the NQ was like, hey, hey, tag along with me. What are you talking about? Well, what I'm talking about is price closed over that resistance level. Right as we came into 10 o'clock, it didn't last very long, did it? A little bit of a false breakout above resistance. But what happened was it's friends, the Dow, the ES mini, let's put up the ES mini 30-minute time frame, it said, not so fast. That's right, not so fast. Take a look where price stopped out here, right at that resistance level, the resistance level, by the way, that I'm referring to is 28, 38, 50. That's right. I'm referring to the intercession. And yeah, it was one tick above that at 10 o'clock. One tick, one tick, that's not enough for you. It's not enough for me. Price was unable to take that level out. But those are the levels to the upside that are more important today as we speak about today's session. I don't know what's going to happen between now and two. I'm not sure what's going to happen between now and later this afternoon. But I do know we should, you should, everybody should be watching those levels because if price closes above that, what does that say? And I'm not going to exclude or leave out, for those of you that love the Russell 2000, take a look at the number on Russell 2000. You can see that intercession price found resistance where it should have. And it did. That means we're going to be watching the level. The level is 15, 21, 30. We're at 15, 17 right now. Write those numbers down in your pad of paper. Take a look at where they're trading the rest of the afternoon, especially on each half-hour basis, meaning 1, 1, 32, 23, 3, 30, each of those half-hours of foreclosing or price of closing above those levels, it's going to generate a big important, more important a picture for you. Now, the other thing that needs to take place, that more important a picture is what's that spotball utility index doing. Trade right now at 16, 39. As you know, I mentioned it's trading above the 50-day, or I believe that it is. If we look at all the big symbols out here, we'll see that the 50-day level is 15, 39. $1 away from where it needs to close below in order to send a signal that a rocket ship is getting ready to take off. We don't have that signal just yet. It appears that there's a fueling that is going on as we speak. Now, many of you may say, how can you say that, Stevo? Well, what I can say is I'm just paying attention to the numbers, those that we looked at, this that we just looked at inside the spot volatility index, and I'm noticing a bullish reversal candle, as we speak right now in the daily NQ chart. So, everything is in. The last piece of this bottom, and it may just be a countertrend right. It will last for a few days. We take things one step at a time, but if price closes over those levels that we looked, this candle stick itself will extend itself, and the NQ will get up to $74.79 at a minimum. Of course, that number is going to change just slightly, so you got to cut me a little bit of slack on that. But the NQ, quietly speaking, you may be looking at the market out here. You may be feeling disgusted. You may be feeling like saying, gosh, darn it, everybody's on vacation. There's not much going on. I say that may not be the case. Keep a close eye on these numbers. It's all about the numbers. Steve Rhodes with TFNN. The numbers aren't in just yet, but they might be by the end of the day. We'll be right back. The TAS Profile Scanner is the most revolutionary piece of trading software that you will ever try. Wouldn't you like to approach the markets with confidence? As you begin your trading day, it's likely that you'll make some good decisions. In order to make the best decision, the first thing you'll need is a strategy that will help you minimize your risks. Whether we're in a bull or bear market, a good strategy is to have the tools needed to help you scan and analyze the markets before you trade. The TAS Profile Scanner instantly scans and filters over 2,500 global financial markets such as stocks, ETFs, commodity futures, and forex. Headed by Steve Dahl, the TAS Profile Scanner understands that in today's technological world, the use of top-flight software applications, automated trading algorithms, and technical analysis expertise is essential to successful trading in today's market. 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We even have new pricing in six months and yearly options. Check out the new TFNN.com now and experience all of it. We'll see you next time on TAS Profile Scanner, internationally at 727-873-7618. Folks, so still no requests by e-mail. I'll keep checking those out there. So we're taking a look at the equity futures contracts and what to be aware of, what to be watching out here. You know, as we come into the end of the trading session, now we're going to take a look at the five-hour time frame. You know, another couple of numbers that we can look at. So look, this thing here, when it made its most recent high, did with the rose momentum indicator top, this thing being the five hour chart for the NQ. You can see that back here last week, both you had a TD set up a nine count bottom. You had a rose momentum indicator signal bottom. So everything is in place here. This, the daily price of the NQ are trying to do is to make a bottom. Now, we can also see that price today this morning stopped right at the resistance level, the top of its current profile in the five hour time frame at 73-70 out here. And so that would be another number. I don't recall the number that I gave you with regard to the TD set up price levels out here. But here's another level. It can't be that far away from where we're going to go with the 73-70 level. So that would be another key area. Now, it's always possible that the profiles are going to change on this. We just have to go with the information that we have, the information that we have says you close above 73-70 and the NQ has officially given you a bottom signal with more of a rally to come and we'll just have to take things one step at a time. Should that happen? Well, if you're an aggressive trader, you go ahead and you step into it. I'm not suggesting that you do that. I'm suggesting that's what a aggressive trader has done because there's always a possible outcome that even though these signals have formed, not yet completely confirming that the NQ is actually going to go ahead and make a A to B equal CD to the downside. That's the other side out here if we go take a look at the NQ let's do it like this let's put this up on the screen let's take a look at the daily time frame chart. Let's take a look at what needs to happen for that let's put in the A to B equal CD pattern here. The A point is going to be the high from April 25th. The B point real easy to spot that's the May 14th low the C point very easy to spot as well the May 16th high. One to one to the downside says a trip to 2051 and change out there in order for that to happen price is going to have to close below the B point you can see the B point is 7290 7290 is held as support forget the fact that it says Apigee that's really not Apigee out there but a key level of support has held inside of the NQ out here very interesting to make the NQ even more interesting out here is what is transpired during the last hour and a half or so what is that? We have a new potential profile I say potential because it's not the end of the day we're using Stevie's advanced Doppler readings out here so for those of you that even have test market profiles you're not going to get this on your system or not likely to get it on your system out here so this is using all the advanced tools in the advanced tools section what you and I can see is there's the potential for a new profile meaning doble a key support at 7305 30 so we know that the swing point is held we now know that we have a bullish or we do potentially bullish structured profile the bottom at 7305 the center at 7379 just happens to be that the high today 7371 so we've got some really did I say lovely I mean gorgeous beautiful pieces of information for you and I to use we've got a 30 minute number that's not too far from the 7370 there might really be there we got the point of control at 7379 we got the 5 hour time frame chart that gave us a figure of what was it 7371 so we've got a lot of great information out here that should help you and I to understand what the market is going to do now of course if this is a bottom this is why an aggressive trader could say gosh darn it I'm just going to go ahead and attack right now and I'll go ahead and close out that trade if we get a close below that B point the trading session from May the 14th 7290 okay and and you do that and you say well where's the counter where's the rally at least likely to take us to where's that next piece of information well that would be 7529 out there that's the NASDAQ none of the other indices equity futures contracts that you and I go take a look at are we going to get this type of valuable information to assist us with regard to what the market is going to do next at this stage of the game even as slow as today might be even though it feels like we're watching paint dry watch the paint dry in the NQ pretty much everything else is irrelevant it will take its Q from the NQ it needs to follow along it's got to get off of that wall out there I'm not sure which wall but that's the only thing well you can add that spot volatility index to one dollar move to the downside and close below that 50 day well then you're talking about a rocket ship heading up to well we have the numbers to look at out there so I don't know what else it is it's 124 that we're going to talk about during the the rest of the show because there's really not a whole lot that I can I'd love to answer your questions you just got to give us call 8779276648 type something in on the den send me an email well John did here okay so John and Sarasota says good afternoon Steve good afternoon John has Intel this I'm certain you are or strive to be one of the best of the best at everything you do in life it's the most common trait that we tigers and tigers share if you're looking to become the best of the best when it comes to managing your money let me teach you to do what most wealth managers tell you can't be done which is how to time the markets I'm Steve Rhodes author of mastering probability and for the last 12 months timer digest has been tracking my newsletter signals which have earned me the ranking as their number one market timer in the nation for the S&P 500 for the last 12 6 and 3 months timer digest also ranks me as the number one market timer for gold as well the fact is markets can be timed and I'll teach you the exact set of tools that I use that has transformed me into one of the best at what I do sign up for mastering probability today by clicking on the newsletter tab on the homepage of TFNN.com sign up today the path of least resist the path daily trading newsletter and if you're looking for active trading ideas then now's a perfect time for a 30 day free trial to this powerful daily trading advisory service David uses his years of trading experience to offer his subscribers his trading ideas each morning in his path of least resistance newsletter using a combination of equity trades along with options David keeps his subscribers up to date with all pertinent market information with intraday afternoon updates when warranted don't miss out on this great chance to get a 30 day free trial to David's daily newsletter the path of least resistance with no obligation to pay anything David has been delivering solid recommendations for his subscribers recently and if you'd like to see the type of newsletter he delivers every morning then visit the front page of TFNN and you'll find the path of least resistance under trading newsletters for all the details and to start your 30 day free trial today log on to TFNN.com now. 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of the art of timing the trade charts today by visiting tfnn.com this segment is brought to you by think or swim for more information just click the think or swim banner on the front page of tfnn.com folks let's go back to John Ian Sarasota his question sorry about that that we got knocked off the air there but John and Sarasota his question was has Intel INTTC by the way Intel decided which direction looks best by direction John is asking to the upside of the downside and what I was saying is because of the potential patterns that I see inside the NQ out here I was asking myself the same question which was well what are the beaten down sector sectors look like out here and certainly the some eyes qualify there now John let's start with the bigger picture the end of the month is Friday the end of May is Friday out here and when we take a look at the signals as we speak right now from a monthly basis inside the semiconductor index it says that the bigger picture is more downward price pressure you've got a perfect road momentum indicator top typically it's not just a one month deal out here and this says the bigger picture is to the downside so I want to make sure that we start with the monthly time frame because that's a very important topping signal and pattern now John when you and I go take them we're looking as opposed to just looking at Intel we'll go back I want to answer your question we'll go take looking Intel but I need to understand hey what's what is the end to see doing out here you know what's the preponderance of evidence of the stocks what are they doing what are their signals in the case of the semiconductor index for its weekly time frame out here no bottoming signal in fact this says that price could easily pull back to its breakout level was January in 2019 and that was down at the 1143 24 mark out there now let's go take a look at the daily chart because John I don't know your time frame and what it is you're looking at but does the semiconductor index display any types of signals to you and I well the first thing that we know was a couple of days ago May 23rd you did get a hammer candle there was also a gap to the downside so now you've got competing bullish and bearish signals out here gap to the downside bearish a hammer candle bullish well when you have a gap is it really a hammer I've always been perplexed perplexed by that question I don't need to be perplexed just look for the patterns that would be completing at the time of that candle session and always watch the low of that session out here so it looks like today is going to be day number seven potential day number seven of a potential TD setup nine count mean that the bottom could actually occur either tomorrow Wednesday Thursday or Friday so John what I would say is because if you get that nine count out here at a minimum you should see some type of counter trend rally at least up to about the 1386 type level right now we're trading at 1309 so that's what I see when I take a look at the semis now when we push this over we take a look at Intel INTC watching the bottom of that hammer candle is going to be important now we take a look at Intel although it didn't generate a hammer candle it created a nice bullish engulfing candle just two days ago and that suggests to you and I that yes what Intel is trying to do is give you a signal that it is getting ready to rally now what price has never done here John over the past couple of days is close above Stevie's red line it tried to on Friday it failed to do so that red line acted as resistance out there the red line number is 4430 inside of Intel now even if price makes a look so what does that mean that means now is too early to enter that trade to the upside the buyers have now suggested to you that they are doing what they can to try to form a bottom well they have the strength to do so I don't know even if price moves below the low from last Thursday it still could be doing that with a less relative weakness out there so this pattern is in play out here the key number inside of Intel is 4430 if we go take a look at the now Intel by the way John whereas on a monthly chart it's this month that said that the semis gave you the topping signal it was last month it was that bearish engulfing candle occurring with that roads momentum indicator topping signal that suggests that Intel wanted lower price here's the bearish side the bearish side is at that bottom that you and I are looking for at this stage isn't going to happen that the monthly chart when we're looking at right now the weekly I haven't put up it doesn't show a bottom signal would suggest that prices pulling back Intel to its breakout level its breakout level is right back here in September and that number is 3493 so there's potential but John in order for Intel to have that bottom at a minimum you need to see a close above stevie's red line that should answer your question it's around 4430 it's going to change over time signals are in suggest that it is going to form a bottom it's waiting for the Q so to speak from the NQ's hope that answers your question John and the Tigers then want to take a look at the July contract for coffee so let's go do that for him let's go take a look at four different profiles out here let's go find that July contract you got coffee tradeout at 9615 if we take a look at the the let's take a look at the daily the daily timeframe John that we're looking at we're just looking at profiles right now the profile show that today prices breaking above the top of that box also above the center of the weekly profile that's at 9484 the signal here with regard to the July contract for coffee is that price should make its way up to the top of that box right now that's 100.68 any close above the top of that weekly profile says a change in trend is in place how do we know that well we're just using we're just mastering probability out here and the probability if we take a look at coffee futures what you won't see out here ever since back in the October of last year 2018 timeframe you don't see closes above the weekly profile well to be specific the weekly profile that came into place in November of 2018 out here so closing above that John would be a signal that a change in trend has taken place now there's an earlier there's an earlier signal that that likely has occurred what do we mean jelly bean well if we take a look at the daily profiles and take those back to October of 2018 what we notice out here is we only see a break of the top of a daily profile we see one two one two three days where that's happened since well since when since back in October of 2018 so now you have another break is this a false break I don't know if it is or it isn't but it's clearly a break above resistance the top of that daily box at 93.60 you're now above the centerline it's a weekly chart weekly timeframe so the week is not over till Friday but in early signals once you can clear that point of control we're both buyers and sellers are most comfortable with price this is telling us that it's actually buyers that are the ones that are in control so at this stage at 1.37 in the afternoon the signal is that price wants to make run for 100.68 now let's back it down a little bit by taking a look at the shorter term timeframes out here by shorter term we can take a look at 90.40 above the top of the box I'll be happy to put up the five hour timeframe it's profiles if we take a look at it well above the top of that it's above the top of the 120 in it's trading with inside a resistance zone a new 60 minute profile 96.45 is the number there at the top 94.93 at the bottom so you've got kind of like a sideways ish move inside of coffee so at this stage you just threw out there I think just to look at it what's your question I don't have the question please also July coffee if you put something else in there I'm sorry I just don't see it but at this stage here it looks like coffee is broken out hope that helps you out best of luck to you Dow's up 6 S&P basically totally flat at 2826 if you're in the CD market and looking for a secure investment the Tiger First mortgage program may work for you the security for these first mortgages are building lots in the tax opportunity zone in St. Petersburg, Florida the tax act of 2018 set up tax free zones across the country where you can build and hold for 10 years and pay no tax on the profits which makes these lots valuable the investment is anywhere from 30,000 to 75,000 the interest paid is 7% yearly paid on a monthly basis according to bankrate.com your CD in the country as of February 20th is 3.1% a $50,000 investment at a normal 4-year CD rate of 3.1% would give you income of $1,550 per year or $6,200 over the 4-year period that same $50,000 investment in the Tiger First mortgage program would give you $3,500 per year or $14,000 over the 4 years what should you prefer? $6,200 or $14,000 of interest on your investment if you would like more information about the Tiger First mortgage program you can call me at 877-518-9190 that's 877-518-9190 you can buy our newsletters risk free for 30 days from all aspects of the markets including stocks, bonds, metals commodities and tech there's a newsletter to fit your needs exclusively from TFNN stay informed each day you trade and get the competitive edge that will help you stay ahead of the game visit our newsletters page by going to TFNN.com and click the newsletters button near the top of the page by going to TFNNN.com educating investors biotech is booming but for how long? whether you think the biotech bull has room to run or has run its course trade L-A-B-U or L-A-B-D directions daily S&P biotech three times bull and bear ETFs visit directioninvestments.com slash biotech today an investor should consider the investment objectives risks, charges and expenses 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 principle the funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor four-side fund services L-L-C don't forget you can listen to TFNN live on your mobile device 24 hours per day go to TFNN.com then hit watch Tiger TV that's TFNN.com then hit watch Tiger TV for the latest market information it dows up 10 S&P a point NASDAQ 132 points it's the NQ that you're going to be watching the rest of the day question from Mike inside the tiger stand you want to take a look at metals assuming gold is one of those metals so as we go take a look at its market profiles for the 6120 the 5 hour and the daily what you're going to see here is basically green red shoots out here you're basically seeing price trading below profiles now in the 60 minute that's not the case there's a bullish structured profile that formed here in the past hour or so Mike the top of that resistance level would be 1280 70 the bottom is 1276 close below 1276 that's not a good thing I don't know if the lows are going to get busted out of Goldilocks out here but there's nothing great about the chart daily or weekly out here trading below profiles now the daily as you and I have taken a look at over the past a week or so did generate a potential bottom pattern that is letter number G wave number 7 to the downside it hasn't been taken out so that's a possibility and the other possibility for a bottom is on the weekly time frame chart it formed that TD set up nine count with the bar following the nine count being the bottom thus far but in the case of gold Mike just so that you anybody else out there doesn't get sucked in what we can clearly see here is that what gold has been unable to do is close above Stevie's green line is currently measured at 1289 70 it's going to change slightly out here on a weekly basis that's what you need to see is a close above that green line number and until that happens you know what price could continue to move lower out here yep could continue to move lower so the weekly time frame chart is very clear with regard to his message it's very clear with regard to the Gertley cell pattern out here and we just don't have any other signal than a TD set up nine count that there is a potential for a bottom if it fails that's really what the question should be where's gold headed to pretty easy the breakout level the breakout level here for gold is going to be the 1239 50 level 1239 50 is where gold could easily pull back to out here so that's what I see when I take a look at metals if the other metal was silver if we go take a look at silver down 24 pennies and again we do the same kind of thing definitely a horrible looking chart out here now when I say horrible looking chart what do I mean well what I mean right now is silver is trading below it's daily profile out here that's not good no way is it good and a price likely if I'm sorry about the epigene number but 1417 Mike is likely its target and that's a swing point and I'm not saying that's where it's going to find support that happens to be the lows from back on November 14 2018 out here but the it's trading below daily weekly so that becomes a swing point that it would like you look at now look you can see here I can't really go back much further so let's do this let me put up my composite contract out here prices may be different so that's okay we're trying to understand where silver is headed to so let's see if I can pull that information up and then we've got more uh oh I didn't that pull it up why didn't that pull it up do I need no it should have pulled it up so I've got a data issue here Mike my apology I don't know what it is that's not getting the flow through on the daily I will leave it like this I'll recheck in on it before the show because we want to take a look at some additional downside action let me put up well that's what I see when I take a look at metals out here so I hope that that helps you out the question that came in here just a few minutes ago as well this and coming in from JDA that is Dan in Texas Dan in Texas says I want to buy some ferraris for my grandson I think you should definitely do that I want to be your grandson oh you want to buy race the ferrari stock is very kind of you and it's been super bullish for a long term buy should I buy now chase a little longer just wait for the retrace how old is your grandson Dan that's the question I would ask because maybe what you want to do is you maybe want to begin this portfolio I like the concept of something really cool like a ferrari out there and probably that is to get your grandson really you know into the market out here we're going to go take a look at race by the way but for your grandson just go ahead if you're going to buy it now and chase it it's going to be put away for a while just go buy the NASDAQ just buy him the NASDAQ just go buy the NDX100 for a while because for your grandson over the next year or so couple years you should see that scream higher out there but specifically let's answer your question with regard to race let's go take a look at race what we can see here right now it's taking on a previous high from May 16 just a few days ago that had a million shares here 306,000 shares today kind of light volume that doesn't mean that it's bad or anything just mean that it's light volume the weekly it says you know prices trying for its trading with inside the swing point for back in June of 2018 likely to head to 149.85 or 144.99 is now the time to buy it no it's not because it's going to make 100% move or should price above the weekly profile out here but what we don't know is this price going to be able to bust through that level on that weekly basis 2.8 million shares this week we don't know what it's going to be going to break out here 306,000 for the day but last week what we do know is price was pushing out with 2.3 and then the week before that 3 million shares going against 2.8 so likely going to go ahead and target that level but I can't say not because I can't say I can't say because I don't know I don't see the signal here to suggest that it will go ahead and break out on a monthly basis maybe this is the better volume perspective when it made its high back in July was about 9 million shares well you're got 11 million shares right now so I'm going to say Dan price is going to go tag that high I don't know if it's going to bust it out it may bust it out buy a share or two I suppose I know what you're thinking in the scheme but I'd really rather see you because I believe there will be more percentage upside movement in the equity markets themselves indices for your grants and then for an individual stock like Ferrari out there but that's just my take if I were to look at the other time frame charts I don't see any other topping signal but you and I must know and the bottom by the way the bottom signal back here was the most recent was May 7 you have a little bit of an island reversal but it was a TD set up nine count the next day that gap upset the bottom signal and then the price wanted to run higher plus it closed above Stevie's green line that resistance so that was the last real buy signal you're in wave number three letter number C on my chart out here again price may still continue to move higher for your grandson if you want to really stick to race then buy a pullback versus buy the breakout as we speak right now and part of the reason is folks you know we're talking about paying attention to the NQ for the potential of just a counter maybe it does but let's not forget the bigger picture out here we're in the unfavorable seasonal cycle the unfavorable seasonal cycle and when you and I take a look at charts like this let's see if we can get them out there real quickly the S&P 500 with a road momentum indicator top and a bearish and golfing candle for the month prices could move easily down into October we'll be right back since 1984 Basil Chapman has been using the Chapman wave methodology to advise traders of his expert market opinion well originally hand drawing charts from the late 1970s into the 1980s Basil noticed that prices under most circumstances virtually always had a certain number of legs to the upside before declining sharply later Basil found that computer software which included the standard market technical indicators enhanced the degree of accuracy in calling price turns as well as market trend calls he was born the Chapman wave sequence using the Chapman wave methodology along with other indicators Basil Chapman advises his subscribers of his expert market opinion each market day with his opening call newsletter right now you can get a two week free trial to the opening call Basil's daily trading newsletter by visiting the front page of TFNN.com cancel it anytime during that trial and pay absolutely nothing get your two week free trial to Basil's newsletter the opening call today by visiting your two week free trial to the opening call Basil's address the opening call Basil's on South African Rand as well as 25 Different mining equities with specific by-sell recommendations as of April 1 of this year the Gold Report currently has eight active positions with an average unrealized profit of almost 8% for each open trade new subscribers get a 30 day money back guarantee so you have nothing to risk for all the details and Run, pass you by, sign up today. 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Primal-edge, formulated and approved by Niko and Paige of Living a Primal Lifestyle. Buy it today for just $89. Click on the Primal-edge banner on the front page of TFNN.com. This is David White. Stay tuned because coming up next is the power trading hour right here on TFNN. Welcome back. So basically, flat markets, NDX up 30 points. You've got the U.S. dollar index up 328 pennies. Trade out at 97.80. I've got a 10-minute delay there so your feed may show something slightly different. You've got the treasuries that move into the upside. So what's that all about? Well, as you may know, there were many elections over in Europe over the weekend. We get to see what the big money is communicating with regard to the outcome of those elections. So forget about the political landscape. Just how about the financial landscape of those elections and what they actually mean to the markets out here. What we're seeing, the signals here, whether it's the euro that we take a look at, here's a monthly timeframe chart for the euro. Let's go ahead and put that up on our screen. Huge beautiful descending price channel that it's trading in suggests to me over the long haul that the euro is headed back towards the bottom. Its breakout on a monthly basis is right around March of 2017 and the 1.05 level. Now an easy way to get your money out of euros and pounds is to go ahead and hold U.S. treasuries. And that's what we're seeing take place here. So you've got the dollar index up. You've got the U.S. treasuries up a full point right now, 1.5201. They want to continue to move higher as well. This is one way. And we're going to also see the U.S. markets eventually trade higher as well as money continues to pour out of certainly European markets into U.S.-based products. Whether it's the dollar, whether it's the stock markets, whether it is treasuries out there, got to be a beautiful thing is maybe as bad as things look they're not so bad just here. So folks, thanks so much for being here. You've got the information you need for the end of the day with regard to price. And stay tuned because I know we've got a beautiful show. I believe that David White is on vacation, but I'm not mistaken. So I'm going to believe there's a replay that's coming up. And then Tom O'Brien live from three to five. Thanks for being here. We'll look forward to seeing you on what tomorrow is already hump day Wednesday. That's a beautiful thing. I like four day work weeks. How about you? We'll see you tomorrow.