 is a presentation of T F N N. Traders edge with Steve Rhodes. At 1 877-927-6648 or internationally at 727-873-7618. Traders edge now Steve Rhodes. And the 16th, the thirsty Thursday edition of today's Traders Edge on your host Stevie Perseverance Rhodes who absolutely knows each of us should always have should always be pioneers of our future versus prisoners of our past. Sorry about that folks a little multi-tasking going on here and you can see I I got off task but I hope you're having a great day out there. Let's make sure we have an extraordinary day and the easiest way to do that well. It's to always remember that life is happening for us not to us. That's right when you and I can when you and I when you and I can make that little two by four shift means we can find the gift in every set of circumstance that life is going to toss at us. Now today you and I we're going to go check on the circumstance of these markets. We're going to go figure out with the bulls and the bears what those buyers and sellers are communicating to you and I just passed one o'clock in the afternoon. I'm absolutely grateful for your presence here but much more important than that. During this next 60 minutes I'm here to serve you. So feel free to pick up that phone and dial on it eight seven seven nine two seven six six four eight would love to talk to you and if you can't dial in well we've got you covered but do me a favor send those emails early Steve at tfnn.com is the email address please put radio show question in that subject heading. And of course in our Tigers then well any ping will do so we only have one request so far so let's go get to that. Well first let's take a look at what the markets are doing here. As of one oh eight in the afternoon got all the indices in the green as you can see the dollars up one hundred sixty seven points about six tenths percent to the upside. It's the Russell two thousand that's leading the charge up a little over one percent. That's up twenty two points she's printed out in eighteen ninety four. Spot volatility next trade out a twelve twenty golds down about three bucks over about four pennies lights we'd crude us up nearly ninety cents natural gas up a couple of pennies and bonds thirty year treasuries down seventeen ticks out there lead the charge dollar wise the upside it's expo logistics expo logistics of twelve bucks fourteen percent signet jewelers is up nine dollars or forty two percent well big move there equinix is up eight bucks nice L.T.D. is up seven dollars to the downside dollar wise booking holdings off seventeen bucks Tesla down fourteen regenerant pharmaceuticals off eight I see you med down seven biogen off about six buck runes but let's go to our first question out there the first question coming in from James and James wanted to take a look at a thorough look at the U.S. home construction E.T.F. that is the I.T.B. and James is looking to go long and is primarily because of the breakout that we can see that's going on fact if I go ahead and we pull the I.T.B. back about as far as we can go you can see that we're at a new all time high in prices breaking above this little shooting star candle here from January back in twenty eighteen James wants to go ahead and take a long position inside the I.T.B. because of this break out so let's go take a look at now prices above it's not only is it breaking out above prior highs it's above all of our daily weekly monthly profiles out there so let's go see what kind of advice we can get to James out here let's take a look at the daily time frame chart so on a daily basis today is James is going to be bar number nine of a T.D. set up nine count you might ask me well does that really matter here and I would say that the last time that the I.T.B. formed a top out here is trying to pull something up give me a second here let me do that all right screw that I'm sorry about that you didn't hear that if we take a look right back here on October twenty six really there were two patterns that were going on here James but there was a T.D. set up nine count top and then price went ahead and pulled back so today and tomorrow would not be the ideal day to enter because of that potential topping pattern and signal that is out there so I would just be patient I would say why don't you take a look at it on Tuesday right the markets are closed on Monday for Martin Luther King and so why don't you wait until Tuesday slash Wednesday before you would that's what the daily time frame chart is suggesting let's go look at the weekly time frame chart what we have in the weekly time frame chart you had mentioned specifically about the Chapman wave counts and you were looking at the monthly time frame chart and we'll get to that but here what I wanted to share with you is on the weekly time frame you can see you've got the roads with the indicator bottom back in twenty nineteen that it formed I would I have this in on the weekly basis is wave number seven now wave number seven that's letter G on my screen out here that is a seventh letter of the alphabet because the numbers are the TD set of nine counts so you've got a wave number seven this week this would also suggest laying low not the wave number seven is absolutely going to create a top or not but it is a topping signal out there so you've got that on the weekly and on the daily what you've got is a TD set of nine count pattern both suggest just being a little bit cautious price on the weekly moving higher doing less relative energy out there back to the monthly if you're just simply going to make your decisions based on the monthly and out on what's going on in the daily and the weekly then you got to go for it of course you were saying hey we're only in wave number two or which would be letter B on my screen on the monthly basis absolutely what we don't know is at the end of the month is price going to be able to close over the high from January of twenty eighteen because that is resistance out there there is no other topping pattern that we have prices above the TD set up nine count high that was the bar following bar number nine that was the month of November of last year so but we need to see what this month's close is and so you could be jumping the gun early at least with regard to the daily and the weekly let those patterns play out and so my suggestion James is wait until we come back next week on Tuesday send me another email if you would we'll take a look at it see how things had things have traded since then so thanks for writing in I hope that that helps you out folks I'd love to hear from you as well so it's eight seven seven nine two seven six six four eight or Steve at TFNN.com and of course inside the Tiger's Den just any ping will do so let's go surf around here and check out the market so I do see I've got a couple of questions that have come in some of these are from you so let me get to these well we've got a minute to go what can I share with you in this minute to win it that that you've got to be that we should be concerned with I'm going to pull this over here because be careful about the celebration that is going on we take a look at now here's the ES mini the NQ and the Dow if I were to add the Russell 2000 to this you would see the same pattern each of them show this is a daily time frame each of them show rosement to indicator signals that are ongoing right now doesn't tell us whether these are going to happen or not the last time normally when we get these topping patterns the rosement to indicator topping signal on here we don't get them all fired up at the same time fact I went back through my charge went back to I could go back to 2002 let's see where I could find it I believe it was in 2010 where those black arrows and put the there you go in 2010 here we go in 2010 now these were all confirmed in 2010 we had the same thing going on all at the same time now when they did confirm they led to a nice decline that lasted several weeks out there and so I just be careful the celebration that everybody is going that we are experiencing inside the markets here I wish I could tell you whether this pattern is going to occur or not but I do know is you've got to be foolishly cautious and if they all three or all four do confirm at the same time get ready for a move to the bounce if you're not currently using the TAS profile scanner when looking at setting up your trading opportunities then your arsenal is short a mighty weapon the TAS profile scanner is a standalone piece of software that instantly filters over 2,500 global financial markets such as stocks ETFs commodity futures and forex headed by Steve Dahl TAS understands that in today's technological world the use of top flight software applications and technical analysis expertise is essential to successful trading in today's market you also gain access to the webinar that Steve Dahl and Tom O'Brien just hosted the best way to use the TAS profile scanner to profit this webinar 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navigation whether you're watching Tiger TV live in high definition or just accessing your newsletter subscriptions we even have new pricing in six months and yearly options check out the new TFN.com now and experience all the upgrades TFN.com educating investors call now toll free at 1-877-927-6648 internationally at 727-873-7618 welcome back folks that was up 165 S&P about 18 points let's go to our next question our next question coming in from John and Sarah Soad and this question is CGC up or down CGC is a canopy growth corp out here and let's answer it this way John let's answer based upon the data and what it tells us so right now we're going to come to the end of the week tomorrow and if CGC is going to break out let me just expand this chart out here if CGC is going to break out then what you should see is a close above the weekly profile so come tomorrow to answer your question the market is going to answer the question for you and that is if you see CGC close above 2449 then it says that there is a change in trend if we take a look at the CGC right now it's tested and it's rejected that level so watch 2449 now what we have going on on the weekly timeframe is which is up at resistance is matching a little bit about what we see on the daily timeframe well there's an A to B equal CD pattern from the low out here back on November 20 and even though price hasn't hit the one to one price target which is 2692 it's really close enough for me in my work out here and today you've got to bearish reversal candle so the answer right now John is that price is up at resistance we're seeing the potential of a topping signal it's matching up with resistance on the weekly timeframe but I wouldn't make that call right now until we see where it closes tomorrow so you've got the information that you need you're loaded and ready to bear and if this is just a retracement or a top a short term top or some type of top then the first level of support would be about 2206 the next level about 2168 to the extent that you're looking to try to get into canopy growth CGC is the name so hope that helps y'all thanks so much for writing in and taking a look at ticker symbol B-L-U-E is that blue NIO just it is no it's not it's blue bird bio B-L-U-E out here and the question is I am long from about 76 I would like to hold the stock in your portfolio trade out at 95 well right now it's trading above the top of its daily profile so that's good above the weekly and it's trading with inside the monthly profile all right the 101-84 you're at 97-24 not saying to sell it there I'm just saying that's where your resistance level is now let's go take a look at the daily time frame chart out here you want to hold it for the long term but we'll just quickly take a look at the daily the daily is giving us an indication of an A to B equal CD pattern to the upside let's go take a look at the volume matrix of this going to be easier if we switch to my e-signal charts out here let's use the one that's maybe more difficult so December 24th half a day 743,000 shares the next 100 1.1 million shares that's from December 26th and you're 1.5 so yeah it looks like you've got a confirmed A to B equal CD to the upside out here so you still got to realize you've got that resistance on that weekly chart actually looks like the B point was right here doesn't matter that was even 1.8 million versus 1.4 you're going to have it at this stage of the game and that A to B equal CD gives you a 1 to 1 price projection out here Tony in the 10863 level 11526 would be another area so no reasons whoops to mean to do that no reasons for you to close out that trade or anything or you want to hold it the weekly timeframe let's take a look and see where we're at on the weekly looks like on the weekly it's going to be week number 7 of a TD setup nine count this did form a bottom so would suggest paying attention now on the weekly chart Tony you've got resistance 10815 what you don't really want to see is you want to see bar number 9 form below 10815 now it's week number 7 so you've got a couple more weeks before that could occur out there because if you do get a topping pattern that occurs prior to resistance eh not really the best of scenarios out there but does look like price wants to run into that 10815 level and then lastly let's go look at the monthly timeframe chart remember we've got 101.84 as a resistance out there if price can get through that then it should move up to test DB's red line so green move to red out here for blue this blue bio and on the longer term base because you're looking for a long term hold in your position when that turns from green to red which it did last month this month out here tells us it's price oscillator is at the zero area so now you've got a falling price oscillator below zero because it changed colors there's this phenomenon associated with this pattern that suggests that price and that line will catch up to each other now the line is printing out at 114.45 but that could continue to rise or fall but you use that as a general 114.115 area so everything looks good out here at this stage of the game watch that 101.84 a move above that should get you towards that 114.115 area Tony I hope that that helps you out best of luck with bluebird bio next question coming in from Ken in Wyoming Ken wants to take a look at the UNG if we're going to look at the UNG that means we've got to go take a look at the natural gas contract which is in the process of rolling over from February to March out here if we take a look at the February contract we're going to change by the end of the day Ken the only thing that I can share with you with regard to UNG which really means take a look at the daily timeframe chart for its underlying instrument the actual futures contract you can see the butterfly by pattern that formed up it's also an A to B equal CD to the downside a 1 to 1.618 you got your bearish and golfing candle that form let me give you the day on that bearish bearish bearish bearish bearish bearish bearish bearish bearish bearish bearish bearish bearish bearish bearish bearish bearish bearish bearish bearish bearish bearish bearish bearish bearish bearish bearish bearish bearish Yes. And really you've got to be in the UNG, I'm not sure when it all rolls over, but it's between now and a week from now, a week from tomorrow. Pay attention to those futures contracts out there. To go into the profiles here and what shows up on the screen for UNG, I would do you injustice. I'm not going to do that. So again, I hope that helps answer your question with regard to natural gas. Next question, we're just rolling through these nicely here. There's a room for more folks, so you can give me a call at 877-927-6648, or you can send me an email, Steve, at tfnn.com. Whoa, that didn't help out. I was in the wrong spot. BKCC is the ticker symbol, and HD wants to go take a look at this. Thinking about along here, that is BlackRock Capital. So let's go take a look at BlackRock. BKCC, again, is the ticker symbol. Trading above has been trading for the last four or five days above the top of its daily profile, is trading above the weekly profile, trading inside the center of its monthly profile. Resistance here, first level resistance 510. The high so far this week is 507. You need to see price move above 510 to then possibly bring about the 540-4 area. You're thinking of going long. Let's take a look at the daily timeframe chart. Daily timeframe chart here. We can see the nice roads, mid-to-mindicator bottom, but that was way back here on November the second. Today looks like it could be, may not be. Looks like this TD set up nine count could possibly vanish by the end of the day. That is if there is a close below, you might know it. Oh, we'll be right back. 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 and get immediate access to workshops where I take you step by step how to use an extraordinary set of tools, as well as provide great market calls too. Sign up today. The path of least resistance is David White's daily trading newsletter, and if you're looking for active trading ideas, then now is 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. TFNN is excited about our new software charting program, The Art of Timing the Trade Charts. In collaboration with Tom O'Brien and using his best-selling book, The Art of Timing the Trade, Your Ultimate Trading Mastery System, David White has programmed an outstanding piece of software that will complement any trader's methodology. Using this first-of-its-kind program, The Art of Timing the Trade Charts allows you to scan thousands of stocks for Fibonacci formation setups, including guardleafs, ABCs, butterflies, and much more. The Art of Timing the Trade Charts is designed to help you when scouring the markets for stocks just beginning to form the trading patterns that many investors spend days, weeks, or even months searching to find. And right now, we're offering licenses available at only $79 a month. We are so confident that you're going to love this new charting software that will even give you a 30-day unconditional money-back guarantee. Don't miss out on this incredible new piece of software. Get your copy of The Art of Timing the Trade Charts today by visiting TFNN.com. For more information, just click the Think or Swim banner on the front page of TFNN.com. Welcome back, folks. That was up 162 S&P 17 points. Let's go back. We're taking a look at BlackRock out here for HD. And as we take a look at BlackRock, you want to go long. So I don't see... So the question is, you know, this is pulling back. And if this can hold CV's green line, let me give you the exact number out here. So this is just a normal pullback to test support. You've got both the top of its profile as well as its oscillator and change line. And that's actually printing out at exactly five buck runes out there. You're at 502. So another couple of pennies. Is that right? Is that really right? Yeah, it is right. So about five bucks is where you should find support on the daily timeframe. If it closes below... Well, let's say if it closes back inside its daily profile out here, let me pull this over. That's also at five bucks. So we've got everything at $5. That's your support level. Any close below $5 could bring $496 or $492 into play. $495 is the top of the weekly profile. Speaking of the weekly chart out here, as we pull this open, I don't have any kind of topping bottoming signal. Just 541 is a level of resistance. Should this continue to move higher? And on the monthly timeframe out here, HD, this does show a nice bottoming pattern. It shows the roads went to Mindicator bottom. That was back in November when we saw a nice bullish piercing candle form. Price was unable to close above CV's red line last month. It's trading slightly above it right now. So I can see the reason to entertain a long position inside of BlackRock. I would wait to see what happens at that $5 area out there. So HD, I hope that helps out. I do see you wanted to ask about URA. So let's go ahead and do that. That is the Uranium ETF out here. And as we take a look at it right now, price is trading above the daily, above the weekly profile, but in between its monthly center profiles. That's between $10.57 at the low and $11.47, which is the top of the profile. So you want to go along there. Let's take a look at... So you just have a sideways-ish consolidation out here on the daily timeframe. There was certainly a bottom. This bottom made a low on December 4th with TD set up nine count, but then price went ahead and made its way up to resistance, $11.15 and pulled right back down to retest those lows out. So what I see out here HD is a consolidation on the daily timeframe. That doesn't mean that price won't run back up to $11.15 or $10.96, but you're really kind of in the middle. Does it run back up to $11.15 or does it run back down into the $10.75 area out here? And I don't know the answer to that. I don't see anything out here to give me a signal. Let me look at the monthly chart real quickly. I don't see any kind of signal out there, so I really don't. So I think you just got to be patient out here. If you want to get into this and see if the consolidation holds and buy the bottom of the consolidation, that's the best advice that I can provide to you. Hey, let's go out to Martinez, California and speak with Brent. Brent, thanks for calling. Thanks for holding. How are you this afternoon or this morning? I'm doing this great. Steve, thank you for taking the call. Sure, my pleasure. Thanks for calling and we're going to take a look at Mosaic Company. MOS folks is the ticker symbol. Brent, how can we help you today? I've talked to you about this in the past. I was fortunate enough to get in like in the 18 range and then have a nice little run to give me a cushion so I could kind of write it out. And my question was it looks like it might be taken on that swing point from looks like right around the start of the year with maybe equal or greater volume. I just wanted to take a look at that on the daily and even the weekly really if you look at it. Yeah, so it's a good point out here. And folks on January 2nd of this year, this made a high at 2215. It did it with volume of 4.1 million shares. So far today, it's traded 3.4. So mathematically seems like it's pushing into that swing point with volume out there. That high again was 2215 were 2207. The intercession high so far today has been 2213. So, you know, Tom always likes to say if it camps out just below that swing point with volume, it's getting ready to, you know, battle it and take it on and maybe jump that creek so to speak out here. I don't know if that's the case or not. What we can also take a look at when we look at Mosaic is not just that specific session, but where's other resistance out here. So the other resistance, even if price can clear that level out here Brent is at 2281. That's a CD9 count breakdown. That's from your candle session of September 17th, 2019. We can see other resistance out here, just simply from a candlestick standpoint. That was the November 5th shooting star candle out there. So it does look like it does want to continue to move higher and take on those levels, not clear whether or not it'll be able to clear that 2281 area. You know, clearing that January 2nd candle close to above it with volume, you know, would give it some promise, but still resistance is resistance. The weekly timeframe for us with regard to Mosaic, it's above the top of its weekly profile. It's got a rogement of indicator bottom. I don't see anything out here resistance wise in the near future. And we do like the monthly so far, the month of January where price is now above Stevie's red line. So that's a positive and would say price could make its way eventually up to 3162 and you're 2212 now. So the answer to your question is, what is the answer? Did I give you an answer, Brent? You gave me some good information. If you were to draw in that A, B, or C, D, what would you come up with on the daily? Yeah, so let's go do that out here. It's going to be easier for everybody to see in the black background screens. What I would do is my A point would be right down here in the trading day of December 12th. That B point is going to be the high from January 2nd and that C point was just a two-day knee-jerk reaction to the downside in the support on the 6th of January. One-to-one Brent takes you to 2485 and one-to-one point 272, 2607 out there. So those would be your price projections. I would still say that the weekly resistance levels that we looked at will still come into play even if this confirms an A to B equal CD to the upside. Okay. Well, thank you very much. Steve, I really appreciate it. You have a great day and I'm sure we'll talk soon. That sounds great. We'd love that. That was Brent in Martinez, California, looking at ticker symbol MOS. That is mosaic. Let me see if there's any questions here that have come in. Nope, I do see a few more. So let's see here all these emails coming in. Alex, whoops, sorry about that. Alex writes in and says, you've used your seasonal timing. What will be an early sign that a correction of at least 10% is starting? An early sign. An early sign. So how do I, how do we do the early sign? The earliest sign would probably be taking a look at the short-term timeframe charts, such as the EES mini. Here's a 30-minute timeframe, a 60-minute timeframe, and a two-hour timeframe. We can see that the two-hour timeframe, there are bottom panels and a TD9 count pattern out here. But to answer your question, the earliest signal that you would, you would want to trade upon would be a break of support. And here these red lines are a TD9 count support levels. So on the 30-minute timeframe, you're looking at 3299 and 3279 out there. That would be the earliest. The five, the two-hour chart says 3294. So that would be the earliest. But really, you'd want to go ahead and combine that. That would be combined with seeing some type of bearish reversal candle, you know, on the EES mini, as an example. We'll further take a look at that for Alex when we get back from this break. Steve Rhodes with TFNN. We'll be right back. We'll be right back. I'd like to introduce you to a brand new Tiger First mortgage program, which would give you $3,500 per year or $14,000 over the four years. What should you prefer, $6,200 or $14,000 of interest on your investment? If you'd like more information about the Tiger First mortgage program, you can call me at 877-518-9190. That's 877-518-9190. If you haven't checked out the newsletter's page of TFNN.com, what are you waiting for? 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Primarily because Alex wrote in the ask the question, what's the earliest signal that you, you know, for the market essence forming some type of top out there. We went to the 30 minute time frame chart and looked at breakout levels. Here's this is the daily time frame chart that we have. So I gave you the figure there, the figures there Alex on the 30 minute time frame chart. But then you've got to come back to like take a look at the daily, right? Because even if you bust through support on those 30 minute time frames, maybe all price is doing is just testing support on the daily ES mini, which right now is at $32.974. So $32.975 would be the number. We can see price moving higher, doing a less relative energy. TD nine count top is our pattern is going to be in place at the end of the day or so it would appear. So you've got to and there's an A to B equal CD. I just simply took that off the map out here. No, just you can see that everybody can see that or you should be able to see that. So you've got three patterns out here to watch for, but you need to you need that bearish reversal candle close below Stevie's green line out there. Maybe it's better for me to answer this question this way. I've given you the early signals and what to look for, but maybe the question because I don't want to confuse anybody. And that means, well, geez, I could confuse myself sometimes, right? I think I was confusing Brent and it mean to do that out there. But if we take a look at what would be the more, how do we know if there's a change in trend? So I'm going to just simply reframe Alex's question to answer, when would we know that we have some type of change in trend? So it's all about being able to bust through levels of support out here. And one of those levels that we would really be taking a look at our task market profiles. Now, it just so happens, the NASDAQ, the NQ, which has been leading the markets higher, actually has a new daily market profile. We took a look at one yesterday. I don't recall if the numbers changed or not, but these numbers are now solid. It's been in place for a couple of days. The other equity futures contracts do not have the pattern in place. The pattern is just really being able to identify resistance. So the answer to your question, Alex, if we were to see a close for two days below 8940, that's the bottom of the NQ's daily profile. Well, that would suggest to me that there is a change in trend that is underway out there. Now, that's going to be well after those early reversals that we looked at. But this is the information that's been provided to us and therefore this is the information I pass on to you. So I hope that that helps you out. Let me see if there's any other questions that have come in. Nothing inside the Tiger's Den. And it looks like we've gotten through everything here from all of the e-mail. So that means we should just go surfing out. Oh my goodness, to surf on Friday and Saturday here, Saturday specific, was just gorgeous. The East Coast surf is so-so. But it was looking a lot like the Pacific. A couple of, well, on Saturday, Friday and Saturday. It was looking just gorgeous out there. And anyway, you don't really care about the surf, do you? And Jay, you're welcome for that profile information. But this is the pause. This is the reason that everybody that's high-fiving out there gets to be careful. Here's just simply taking a look at the cash indices, even though I misspelled that up at the top. You have the cash indices, the S&P 500 sectors, the index ETFs, you know, like spies, diamonds, cues and so forth. Other popular ETFs out here. And then you've got your Rosamundim indicator signals for the daily, the weekly, and the monthly timeframe. We're certainly concerned about all of them. Look at all of these for the monthly and the daily. Now, look, price can continue to go higher. There are no bearish reversal candles out there. That would be one of those important steps along the process. Here you can see the NASDAQ composite. Because it's got a star by it, tells us that it's a, at the stage of the game, it's a valid TD9 count top on a weekly basis, a daily basis. So you've got that for the NASDAQ composite. You've got that for the NDX100. You've got it for the XLK, the XLC, the communications sector. For the monthly timeframe, you've got it for the consumer staples. So those are your topping signals out here and patterns. And then over on the right, you've got your different levels of support, whether it's daily, daily green red line. That's the OUL oscillator and change line. So you've got your daily, weekly, monthly levels out there. And then you've got your levels of support or resistance for the, based upon the breakout or the breakdown areas out there. So it's really these first, well, not the first two columns, but the three columns after that, that should have all of us concerned. Now, really concerned if it turns into something, the only way it will turn into something, the first step here, because we're looking at daily, weekly, monthly, is going to be some type of bearish reversal candle on that daily timeframe out there. The question from Peter is how close the small caps to their all-time highs. Let's go take a look at the Russell 2000. Let's go put this on a quarterly timeframe out here. And the all-time high, let's just pull this chart back here for you. The all-time high, is that an automated thing or not? That might be. It was right back here at 1742, Peter. So 40 points away would be the answer to that question out there. There is an A to B equal CD pattern to the upside with a price projection of $1896. This is a quarterly chart, so that just simply is over time. So I hope that answers your question with regard to the Russell 2000. Nice-looking move today, but that nice-looking move today. If we were to go take a look at the cash indices, let's go ahead and pull those or pull over the Russell 2000 and you're welcome. I just see what else is going on on its chart out here. Here's the Russell. So we pull this over. So you can see the cash indices, got that rose momentum indicator signal that is present in wave number five as I've got it at this stage of the game out here. In any pullback would look to find support at $1686 and below that $1620 would be the price target to the downside. So that's what's going on inside of the Russell. We continue just taking a quick peek around the markets out here. If I take a look at the New York Stock Exchange, what is present at the moment? It won't mean a thing until we see a bearish candle, but we can draw it in. You've got a declining tops, advanced-declined oscillator, and what you have is rising price. And also shown on this chart are other examples of rising price and declining tops, advanced-declined oscillators. So that's another signal that says, hey, Stevo, be cautious out here. Now with regard to, let's go take a quick peek, see if I can pull this up open pretty quickly here. And what I was going to do is let's take a look at what's going on with regard to the equal weight of ETFs. Come on, I know it's here somewhere. Quickly, quickly. There we go. So let's open up this page here. Looks like we'll get this done before the break. Just curious if there's any kind of divergence here. And the answer is no. Both the equal weight for the S&P and the SPI itself are at new all-time highs. The same for the equal weight for the Qs and for the QQQ itself. So no diverging pattern there to worry about. So what else do we have? We don't save that yet. We'll just save it, but we'll go ahead and get rid of it. So nothing else really with regard to the equity, you know, the other pattern that's going on out here, or at least otherwise this morning yet, you still have this rising bottoms pattern in the spot volatility index and rising price. All that's only going to matter if we get a bearish reversal candle and the spot volatility index trades above the 50-day exponential moving average. Since 1984, Basil Chapman has been using the Chapman Wave methodology to advise traders of his expert market opinion. While 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. Thus was born the Chapman Wave sequence. 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We'll go from the weekly and move our way back. So let's say a top does not form over the next couple of days out here. Where is the ES Mini targeting? Well, there's an A to B equal CD to the upside. If we go back here, we can take a look at that A to B equal CD pattern. It would take us up to about the 3373 level. We've got wave number six. That's letter F on my screen. So the weekly doesn't really have any kind of ES Mini. It doesn't have any other kind of topping patterns in play. We would look for wave number seven. That'd be letter G. That would be a few weeks off at a minimum out here. If we look at the daily timeframe, I think we covered this, but here just to refresh our memory. Price is moving higher, doing less relative energy. This is going to be bar number nine of a TD setup. Nine count tops can form on bars nine, eight, nine, or the bar following nine. That would be tomorrow. So that says that we could see a high tomorrow. If we take a look at the five hour timeframe chart. Oh, I'm sorry. You're not seeing my charts. What a shame that was to have blown that. Let me show you the A to B equals CD pattern here real quickly. So we'll do that on the weekly. So here's your A to B equals CD pattern. There's your 3373. There's your leg F to the upside on the weekly timeframe. We'd already taken a look at the daily earlier. So I won't do that. Your five hour timeframe chart, wave number seven letter G. Price is moving higher, doing less relative energy out there. Needs a bearish reversal candle to confirm it. But nonetheless, topping signals are present. 240 minute timeframe chart. What do we have? We've got wave number six letter F, and we've got a Rosamund indicator and a TD nine count pattern that is present out there. We take a look at the two hour timeframe chart. What do we have? Rosamund indicator signal, TD nine count top wave number six out there for the two hour timeframe. For the one hour timeframe, what do we have for the ES mini? We've got price moving higher, doing less relative energy. Wave number seven. That's letter G on my screen out there. So you see, no matter what timeframe it is, we come up with. There are just things to be cautious and concerned with. Nothing that has confirmed just yet. So it'll be very interesting to see how this all plays out. Meanwhile, folks, thanks so much for joining me here today. We'll look forward to seeing you tomorrow on Fun Day Friday. But stay tuned for two more great hours. David whites up next time. Well, Brian, take us on home and Stevie's son. I'll be back with you on fabulous Friday. Take care and have a great day.