 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 day folks welcome to the August 5th the fantastic Friday 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's having a great day hey let's make sure we have an extraordinary one and the easiest way to do that well it's always remember that life is happening for us not to us that's right we do now make that one little two-by-four shift well means we can find the gift and 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 those bulls and bears what those buyers and sellers are communicating to you and I it just passed well it just passed eight o'clock in the morning so if you are listening at the normal time slot we'll try to make today's show as pertinent as we can absolutely but if you are listening live we would love to hear from you so you can give us call at 877-927-6648 and if you can't call in you can always send me an email send it early send it to Steve at tfn.com and if you be kind enough to put radio show question in that subject and that would be great of course inside our Tigers then well any and every ping will do so let's go ahead and get this show started on fantastic Friday of course this is Tiger financial news network I've Steve Rhodes welcome to the show right now you got US equity futures for the most part traded higher point and higher the Dow is up 67 NASDAQ is flat the ESMini is up four points Russell's up two over an age last night it was a sea of green you had the Shanghai that finished up 39 points a little over 1% nine tenths for the Nikkei 243 points about 1% went one tenth of a percent for the Hank sang 27 points over in Australia it's in to see the S&P 200 finished higher by about a half a percent over in Europe you've got a mixed bag footsies trading off by six points that's flat in the tax is up eight points that too is flat goals of three bucks Silver's down three cents Platinum is up 14 pennies ladies up 19 Copper futures are up seven cents out there likes we crude is back 26 pennies traded 88 27 doesn't look like you want slower price natural gas back 12 cents she's printing out at $8 almost even Steven 30 Treasury 14 ticks 14308 so what's all that stuff mean out there well let's go take a look at the first of all international markets well it is jobs Friday so what do we expect if there's going to be fireworks and there can't be fireworks after the jobs report first that Friday of every month is released and that is at 830 so be live will be able to take a look at what's going on I'll try to make sure I have as many at church closed down as we can in case there's a lot of activity out there but we'll see what kind of impact of course we want to do here is look for any kind of early tells as to how the market may respond so we just take a look what went on overseas that's a change screens out there I see I didn't do a very good job of that we move over here we'll look at this white background screen so if you take a look at the Shanghai what it mean that the Shanghai closed up 39 points a little over 1% well there's an A to B equal CD pattern to the downside it has not completed even though it did generate a bullish hammer candle yesterday follow through today at this stage here it looks like what price is going to go do is target that 3397 level that's it's also there are chains on it look at the hang saying it also has an A to B equal CD to the downside prices tested or tested that they're red oscillator and chains line so as long as price remains below it and it's just slightly below that right now the A to B equal CD pattern to the downside should continue the decay closed above TD 9 count break out a breakdown resistance at 28 044 it's got one more area left that it needs to tackle and that's its TD 9 count top from June the night that means a close of about 28 389 75 for the decade what suggested it wants lower price in the case of the DAX it has an A to B equal CD pattern is underway has not completed it the one-to-one takes us up to about the 14 020 ish area out there did get a bearish shooting start candle yesterday but that's just kind of interesting it doesn't complete a pattern now the footsie chart here straight out of 74 39 and my data feed is not updating for the footsie nor is it for the US dollar index out there but what we can see is that the footsie negated a TD 9 count pattern it did that yesterday and so that's suggesting that price wants to make move for its breakdown level at 76 17 the US dollar index has got a nice roadsman to mitigate her top prices testing or holding the bottom of its daily profile the euro which formed a roadsman to mitigate her bottom has just been trading sideways so not a lot not a lot of information there and you've got the Japanese yen did complete a TD 9 count bottom that suggests to run for its a oscillator and change line 135 13 so that's what's going on overseas that's what its activity from last light from last evening meant now let's go take a look at what a what what what's going on with regard to today's futures for the US markets out here so to do that let's switch over to a couple of our charts out here let's go to this one which was shows the daily time frame for the ES the NQ the YM and the Russell 2000 so do we know we know that that there's a potential first of all there's an A to B equal CD pattern that is underway any bearish reversal candle today would be an easy day to do that for the yes many yesterday was a doji candle so all it has to do basically is close lower on the day we'll get a bearish engulfing candle that would then confirm a sell the D point if we do get that I don't know if we will or we won't if we do get that then that would suggest that price would pull back to 40 66 at least that would be the first target out there in the case the NQ it is actually made a higher height today we have not taken out yesterday's high inside the yes many we've not done that inside the Dow and we have not done that inside the Russell but we have inside the NQ what that does is that triggers bar number eight or potentially triggers bar number eight of a teeny nine count and over today's bar to complete is bar number eight price must close above bar number four is close bar numbers four close was 12 980 and a quarter now a teeny nine count has to complete bar number nine that says on Monday that the NQ would need to close above bar number five that close is 12 920 and a quarter if either those don't happen this up pattern will go away and what will remain is just simply the A to B equal CD pattern that requires a bearish reversal candle to confirm a top short of that price should continue to move higher in the case of the Russell 2000 we can see that prices made its way up to a natural area of resistance where price had broken down recently now is at the nineteen nineteen level it also has the A to B equal CD pattern it was a doji candle that formed yesterday pretty easy for it to generate a bearish reversal candle today if it doesn't then it makes a higher high then it brings in the TD nine count so that's what's going on on the daily time frame let's go take a look at what's going on on the 30-minute time frame and we can switch over and take a look at what I'll tell you what we'll do is let's go look at the 30-minute charts out here that's probably going to take us into break so as you look at the 30-minute charts in the ES many that's the upper left hand side what you will see is a TD nine count bottom that formed in a what 8 o'clock 7 o'clock 7 30 it was at 7 o'clock this morning the bar following bar number nine now prices above its green oscillator and change line so price should take on and it is taking on the resistance area of its 30-minute profile and that's a bearish structure resistance area and that has resistance in the levels of 41 59 to 4 41 51 to 40 I take that back 41 59 to 41 60 this is called 41 61 and the price you get above that then what price should do is go target its breakdown level that breakdown level be 41 63 and a quarter what price really needs to do you'll see a number of different accounts fact that let me just simply open up and expand the chart out here so if you look at the ES many you've got resistance right here right here is seven o'clock in the morning and that was on august 4th that was yesterday TD nine count Roadsman Dominicator top then you get another TD nine count pattern that forms out here at the top that was at 2300 hours that was last night price needs to take both of those out to suggest that we're going to run to higher highs out there otherwise 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market Teddy Keckstat has 30 plus years of experience in forex trading commodity risk management forex hedging volatility and so much more Teddy releases his weekly tiger forex report every Monday morning with elite coverage of all major currency pairs including the DXY Euro dollar pound dollar Aussie dollar dollar yen dollars Swiss franc and so much more Teddy will recommend specific trades when the market presents them and provide updates throughout the week when warranted for the month of July inaugural members to the tiger forex report will receive 25% off the monthly subscription for as long as they're subscribed just use promo code 10E25 to lock in the added savings this offer is good only for the month of July so do not miss your opportunity to save on the tiger forex report TFNN Educating Investors now toll free at 1-877-927-6648 internationally at 727-873-7618 back up folks there's going to be a scheduling change it's effective on Monday Larry Pesvedo and I are going to swap shows Larry's going to do the one to two I'll switch into the 11 to 12 show out there so that's the effective Monday morning out there so obviously turn into both let's go to a couple questions that have come in before we get that jobs date out there that could create some fireworks so let's go to the first question that came in this was inside the tiger stem this was from Jack F and Jack wanted to take a look at EOG I believe Jack is looking for an entry points into it so let's take a look at the chart patterns out here so when we take a look at the daily time frame what this did generate was a nice uh road's momentum indicator bottom it did and it was a TD 9 count bottom as well so the TD 9 count bottom took effect on July 14 the road's momentum uh signal confirmed on July the 15th now what we have out here is a price was able to get above its barest structured daily profile you see that Jack out there it was above that for more than two sessions quite frankly it was for about four or five sessions if it was just a countertrend move to the downside then EOG should have found support where it did not yesterday but the day before at the center of that barest structured profile at the 102 51 level yesterday's price closed below that and below its offset and change line suggests to run at support so what that really means or what you're looking here then what you're looking at as a potential entry point for EOG is really that swing point low that was what July 14th I believe was uh July yeah July 14th now I'm going to just go take a look at my other charts out here just easier for me to look at the volume 5.58 million shares Jack on that day so as price pulls back yes it was 5.7 million shares you want to see price at least tag 95.66 that's the top of that candle close back above it and do it with less than 5.5 million shares out there uh now price might get down to 93.64 that's the bottom of that profile but you still want to see it close back above that swing point to then generate a potential buy signal out here but you know what what that really sets up is maybe this is just a consolidation pattern so don't let uh you know don't don't get too far ahead of yourself out there that yesterday's yesterday should have held support it did not hold support well it did hold the key level support you were looking for so EOG likely headed back towards that 93.64 area as we take a look at the weekly time frame chart out here I don't have any kind of signal at the bottom I don't have that in the case of the monthly chart either out there so we'll just pay attention to the daily so Jack I hope that helps you out that's what I would be looking at that July 14 swing point on a further move lower let's go to the next question that came in this from John inside the tiger's den Joe wanted to take a look at the Dr. Copper so let's get those charts up on the screen and where we at here we go so you'll see our multi panel set of charts out there so in the case of copper for the monthly time frame you can see that nice bullish hammer candle that formed last month now not at any pattern completion or anything along those lines but it did tell you that copper was trying to form a at least buyers are trying to form a bottom out there on that monthly chart if we look at the weekly chart out here we do have we do have an a to b equal cd pattern that had that did complete and well let me see here that hammer candle low 327 that close 323 I take that back so we don't have a confirmed by the d-point we do have that we do have the we do have the a to b equal cd pattern so a to b looks like this here's a to b right down to that level we can see there was more than a one to one move out there and what we were looking for was the bullish reversal candle and there was that hammer candle but we did get a close blow at the following month so it does not have a confirmed by the d-point does not mean that price can't rally and the rally would take us up to the 375 level out there that's that red oscillator and change line you can see how price has been below that level so if there were to be a close above that john that would be a positive outcome out here as we look to the daily time frame charts for high-grade copper out there what do we see well the thing that we really see the most is a td-9 count top and then probably the daily chart out here john the one that's going to help you the most why because that td-9 count top has resistance at the price point to three dollars and three point five nine seven to be exact we're trading at three point five seven six if price closes above that td-9 count top that will then generate an a to b equal cd to the upside that will then also generate a target zone of four dollars and 46 cents that is the td-9 count breakdown level so whereas the monthly chart is kind of i don't know what the signal is here in the weekly chart is that don't see much of a signal there the daily if it takes out that td-9 count tells us that we had higher now that had higher where i would look at would be that red oscillator change on in the weekly time frame three dollars and 75 cents and just above that is the top of the profile at 380 so that becomes the resistance zone should price close above that td-9 count so hope that helps you out john or z inside the tiger's den if not please let me know what else i can assist with next question coming in from hector and patty coming in by email out here so let's read their question which is about google so let me get over to the charts here i think i've got that already up on our screen and read the question hey stevo happy fabulous early bird friday back at you my friend google on a weekly close above 120 43 confirms an a to b equal cd to the upside question mark no does not if we look at the weekly time frame chart for google out here we'll just simply expand this out what we don't have is uh so the retreat you know what i'll do is let's just switch charts here it's going to be easier for you to see uh because i can draw that pattern in so give me a moment we'll switch over to the weekly time frame chart here for google all right so we take a look at the weekly chart for google first of all the a point would be pretty clear for us that would be the low that we see on the charts out here that's low from the week that began may 23rd the b point would be the high that follows that's from the week that uh began july 4th and then the c point would be the lowest load that occurred after that that takes us back to last week when we take a look at that retracement out here that's an 86 percent retracement and once retracement skip below 0.782 really loses its luster as an a to b equal cd pattern even if this were to be hector it only gives you a one one price projection at 122.99 so no it's not an a to b equal cd pattern what it is though as we take a look at the weekly chart at least what sticks out to my eyes is a sideways consolidation pattern out here so google's just in a sideways consolidation that says you typically sell the top of the consolidation so that's going to be at that one 2065 area out here and you would buy the bottom of the consolidation and that's towards last week's a low in the 104 ish range out there now the daily time frame chart price is trading above the top of its barestructure daily profile so any countertrend move to the downside should find support at 112 86 if google is going to maintain any kind of a bullish ways out there so now let's go back to um now what this does have on a weekly basis it does have a buy the d-point pattern so it did form a nice bottom there and what that looked like so here's the a to b equal cd for that our a point is the high from january 31st our b point's going to be the low from february 21st the c point's going to be high this is the week that began march 28th now see that's only a 70% retracement out there so it qualifies with what we're looking at and then that was confirmed with this nice bullish hammer candle that was the week that began at may 23rd so you do have a confirm by the d-point pattern for the daily you've also got for the weekly you've also got it for the daily you can see that nice bullish hammer candle what uh that was the one that formed on may the 24th out there so hector and patty no a to b equal city of the upside from the weekly standpoint just a consolidation out there and you want to watch that 2065 level we get back from this breakout here we've got a caller on the line it's roberting kansas we're going to go take a look at the energy sector the xle zeroed to a tf and n we'll be right back vista gold owns and operates the largest undeveloped gold project in australia the mount todd gold project vista gold just completed their feasibility study resulting in a seven million ounce gold reserve vista gold has all major permits approved and has retained civc capital market assistance in evaluating alternatives and in 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for more than 20 years with live programming hosted by a variety of professional traders during market hours the tiger's den available to all tigers and tigers is for just one dollar for the year there's no cash or added costs when you join our community of traders sign up today and become a part of this educational community of traders just visit the front page of tf and n dot com back folks you got the dow equity futures up 87 the nasdaq futures of 21 the s and p futures of seven it is 8 30 in the morning we are recording this show between eight and nine if you listen in live we're going to make it as pertinent as we can for your day so we do have the jobs report numbers that are just being released but let's go to our first caller that's robert in kansas city robert thanks for calling thanks for holding how are you this morning happy friday steve thanks for making my call sure my my pleasure i have a question about xle i hopefully you haven't covered it in your segment so far i have not so uh fire away okay i don't currently have a position in xle but i'm interested in it but i just needed some guidance on uh where do you think this is headed when you look at a a daily or a weekly chart was was the kind of all time top in back in uh you know a couple of months ago and i'm not looking at i'm not in my front of my computer so i don't know they can't date but are we sure kind of on the uh the c to the d leg down on a bigger abcd down or do you think this is a minor retracement and we're heading higher so great question looking at the daily and weekly chart okay we will look at the daily and weekly chart but the way i'm going to first answer your question is to look at the yearly chart something that we really do now and i would always pops up on my screen but i don't really focus too much time on it during the show unless it's really pertinent so the very first thing is we open up the yearly chart here for the xle robert what we should all notice is that price is trading above last year's high when you trade above last year's high for any instrument out there it tells you you're in a bullish market so not that that not that that couldn't have been a major top which was you know also into one of your questions but right now the xle is in a bullish mode and that's coming from the weekly chart and so i would first answer the question this is more likely just a counter trend move to the downside so any questions about the yearly chart before we go take in the dive down into monthly, weekly, daily and anything else so i typically don't i don't even know if i have a yearly chart faithful to me that's a big number do you do you have that can you kind of reach that same conclusion when you look at a the monthly chart as well um no so i first is trying to give you the larger the larger overview right because your question is this is this just a counter trend move to the downside or was it a major top out there so the first thing i want to put in perspective is at least from a weekly or from a yearly standpoint the xle is an all out bullish mode out there we don't have many instruments um that are trading above last year's highs robert so you know this is certainly a strong area and a reason why you would be taking a look at putting a a long position in so that's the first thing the second thing if we take a look at the monthly time frame chart it does have a td9 count top out there so you ask is a potential that uh that that was a significant top if price were to close below 5166 and i would say the interest that was likely yes out there we're trading at their close yesterday at 7166 so you have that td9 count top that took place in the month of june and uh and then price pulled back and tested and rejected that greenhouse that are in change on as long as price remains above that line that closed yesterday at 6848 it's still bullish out there now because that's the level of support what you look to is some type of bottoming signal for the lower time frames like weekly or monthly but before i go over i mean weekly or or daily before i move on to the weekly chart robert any questions about the monthly no no it was helpful actually i don't you actually i don't think you you can't see you said you don't see your computer so you probably can't see it so i probably shouldn't stop asking you that question but i'm gonna go back and listen to the archive and get my computer in front of me but i'm just not at a position where i can look at it right now sure sure sure no problem so the weekly time frame chart what's the weekly time frame chart communicating to us well there is a new weekly profile and what that does is that for first you've got a a roadspin to indicator top out there at price close through the first or below the first level of support that was a profile that informed the week that began june 17 but there is a new profile that is in place right now it is a bullish and structure if price were to close below 6826 on a weekly basis robert that would then be telling us that price is going to go retest its recent lows the lows from july 15th or could head back to 5426 but right now you've got the significant support at 68 in a quarter so if you were to ask me where is a likely buy point out here i would say that 6826 level would be an area to be looking on a daily time frame so the chart here closes up i can see there's a lot of activity going on on my screens so there we go so now in a daily time frame what did we get the xle the energy sector formed a td9 count topic did it on the day of july 29th price yesterday closed below the bottom of its bullish structure daily profile this suggests that price is going to go tag its breakout area at 6966 so the buy zone or the potentials buy zone out here would be between 6826 and 6966 and of course this price were to close below 6826 that probably says step back take a small loss and let's uh you know let's let's read let's let's relook at the charts out there so that's what i see when i take a look at the yearly monthly weekly and daily in summary the early chart says that this is in bullish breakout mode the monthly chart says even though you've got a td9 count top price held support the weekly chart says i've got a new level of support that is so far held at 6826 the daily says price might get back to the 6966 level not that it can't get below that but those are the current price targets out there robert does that seem to answer your question for you i still believe that this is just a countertrend move to the downside uh yeah so you you nailed it right there thank you so much and i don't know if you have questions lined up if you do you can you feel free to pass on this one or maybe you take it next week but nope you're on the phone you're on the phone fcx the uh the big minor yeah let's take a look at its chart so with regard to fcx uh there is going to really do two things that you want to do when you're when you are trading fcx you are trading the australian dollar the correlation we've done this many many times the correlation it's not exact it's just short of exact out there so yes you're trading the mining materials that it has but you really have to pay attention to get a good grip on what fcx is doing is to take a look at the australian dollar in other words this formed on a daily basis fcx formed a nice rogment to indicator bottom and td9 count it did it on july 14 very similar to the energy sector out there i think that we took a look at or some other instrument that that i looked at so july 14th had a nice bottom pattern in there i'm going to guess based on the way that we're looking at this is that the australian dollar probably bottom on that same day out here no what we had was a nice a to b equal cd pattern to the upside that still is not completed out here the price is just consolidating with inside its daily profile if you're looking for an entry point in fcx this is irrespective of us take a look at the australian dollar that answer would be between from a daily daily standpoint between 2745 and 2809 2809 is the bottom of its daily bullish structured profile so that's the likely target area as far as where fcx is trading in the pre-market right now i'll see if i can get over to that and type that in so again we're saying 2809 is one potential buy point fcx in the pre-market yeah that the the a30 jobs report has just got my system a little bit clouded here now what we have on a fcx on a weekly basis we've got a nice completed a to b will see the downside but i don't have a bearish or bullish reversal candle so i'd really like to see that in order to be able to call a bottom in the monthly chart for fcx uh... does not have a bottom pattern either in a suggesting that over time wants to head lower but you've got the nice bottom on the daily time frame and so from a trading standpoint and i still don't know where it's trading at the pre-market my apology robert it'd be between 27 2745 and 2809 does that answer and then the resistance what i'd be looking for is around the 32 33 33 level if price can overcome that then you would want to stay with that trade but that would be the the next resistance point up top if in fact it doesn't fire thanks steve i appreciate it you have a great friday you too thanks so much that was robert in uh... cancels we had a couple requests inside the uh... tigers den as well to take a look at some instruments let's go to those the first one from dan which was a o'reilly automotive o r l y so we're going to a break right now since we get back we'll take a look at where o'reilly automotive is looking to head and we'll look at uh... the gdxj for snp inside the tigers den seabroads with tfnm we'll be right back this coming wednesday august 10th basil chapman will be hosting an all-day live webinar from nine a.m. till two p.m. eastern time will he'll be presenting the technical tools based on the chapman wave methodology a full in-depth course on his entire trading system over the five hours of live education basil will discuss studying and practicing entry and exit points assessing where to add or subtract from positions utilizing simple technical tools for holding positions longer taking bear charts and adding notations tools and patterns as well as identifying free core formations that repeat in every time frame and much more when you sign up you get a chart booklet emailed to you immediately to start studying and you gain access to his daily newsletter the opening call a one hundred and forty nine dollar value the cost to attend is only two hundred and ninety five dollars and the full five hours will be archived don't miss this live special event wednesday august 10th with basil chapman for all the details and to get started today visit the front page of tfnn.com right now 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 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guidance from the authority in technical market analysis and it's not just dry tedious text either tfnn airs live financial content streamed live on tfnn.com and tfnn'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 tfnn.com or on tfnn's youtube channel and become the investor you were born to be tfnn educating investors this program is brought to you by vista gold traded on the nyse american and tsx under the symbol vgz folks so the first reaction to the job numbers out there you can see that equity futures have taken a leg to the downside down futures right now down 140 points nasdaq up 124 s and p off 29 we'll take a look what that means you've also had gold trade lower gold and silver gold down 15 bucks right now so off silver off 34 cents uh like to be crude is basically flat out there and the 30 year treasury off 1.17 ticks one that points the downside a trade out at 140 206 but let's go finish take a look at the requester and then we'll go take a look at the uh the multi-type frame charts for the equity futures contracts get a feel for what they are likely going to do out here so let's take a look at a riley automotive is for dan inside the tiger's den a rally automotive two days ago confirmed a sell the d-point pattern it did that when it generated that bearish and golfing candle it also was a wave number seven pattern out there at least by my counting and that brings up the fact that basal a chapman has a all-day workshop i believe between nine and two uh this coming wednesday the 10th so i do encourage everybody to go over to the homepage at tfn.com and sign up for great tools out there well worth the investment so that's that wave number seven top that we've got and uh now what price needs to do if there's going to be any kind of traction the downside dan is price must close below that green oscillator and changeline a green oscillator and changeline tells us we have a rising price oscillator above zero those are bullish conditions now wait a minute stevie you just said that there was a top i did so what we have is a neutral condition price is above the top of its daily profile above that oscillator and changeline and we have a top now price takes out that high that high by the way from two days ago for a rally automotive was and is uh 712 63 if price gets above that then price heads back to its most recent highs and we take a look at the weekly chart you can see that road's meant to be catered to from april and that could take you into the 748 level short of that if price does close black green oscillator and changeline dan then you're looking and move back to the 691 area that's the top of its daily profile that would be the first level of support weekly chart looks very positive out here no topping pattern that is in play and says it wants to head back to those recent highs the monthly chart also looks bullish uh yeah it just simply looks a bullish out there but it's a daily time frame chart to continue to watch so i hope that helps you out dan with regard to a wryly automotive snp inside our tiger's den you're it said uh you're targeting 678 678 well that'd be that bottom of that daily profile dan so um so we've got one step at a time you got 691 93 683 05 and then 674 17 would be your target levels to the deltzo but you really want to see that green daily that daily green oscillator and changeline fail otherwise it's a real suspect for a short trade out there so gdxj is another instrument this is from snp he wanted to take a look at that that's the junior miners out there i imagine they're getting hit just a tad with gold off 18 bucks right now let me see uh xj and it's just there's so much activity right now going through the system here my system that's just taking just a tad longer to um to get our to get the charts out here so we take a look at the gdxj right now it's trading the last trade fired up at 3351 one before that 3363 so uh you close at 3406 so no no major damage there what you'd want to watch here on the gdxj it does have a uh profile uh where both the bottom and take that back 3220 3220 is a key level of support if price were to close below that snp then you're taking a look at a run for 31 23 and really if it's going to do that i would say it's likely going to go tag it go tag the swing point from july 14th out there and that high is 30 19 and the volume out there was 12 million shares if it does that you're certainly want to see price moving back with less than 12 million shares out there but otherwise as long as support holds then what you should see is price make a run for the 3721 level that's a daily td9 count breakdown area but first you've got to get price and it didn't close above it yesterday that's the top of its profile i didn't mention that to you that was 3392 so you'd like to see a secondary close above that now on the weekly chart you can see how price ran into resistance and that was at that red oscillator and change line so closing above that this week would be a real positive that is 3428 if it doesn't it's suspect and says watch 3220 so that's what i see when i take a look at the gdxj charts out there so i do hope that helps you out and thanks so much for the request now let's go take a look at the multi time frame charts here for a couple of the equity future contracts let's go take a look at the start with the es mini so in the case of the es mini as you know we mentioned here on a daily time frame what we're looking for there's an a to b equals cd pattern now if this were session close then we would have a confirmed sell the d-point why because you would have a three river evening star pattern formation unfortunately at 847 the morning it's too early to call what the end of day looks like but if we do get a bearish reversal candle at the end of the day for the es mini that is they're going to suggest a retracement back to 4059 that is its green oscillator and change line if price holds that level then that would be the next buy point for going along the s and p 500 and es mini if that level fails then the next area to take a look at would be as price gets back to 4030 4030 is the top of the daily profile if price close below 4030 then we're looking for a run of 39 36 or 39 60 if you look at that 30 minute chart out there you can see the jobs report came out about 18 minutes ago you can see a nice wide range of bar to the downside so now we've got to say well where are things headed to well if we look at the 60 minute time frame chart which had a nice roadsman to indicator top price is now below its support level the bottom of the bottom of that task profile and that was at 41 48 that suggests that it wants to go target 4092 or trade at 41 10 the 120 minute time frame chart also has a roadsman to indicator in 189 count top price below support it's suggesting 4092 50 so we got two uh for 4092 50 the four-hour time frame chart says yeah maybe that's where I want to go but really maybe I want to at least spike down to 4084 50 and that is the bottom of its breakout that is its breakout td9 count breakout level which is the same for the five-hour time frame chart so this is pretty cool we got this wide-ranging bar moving down we're trying to understand where is a level of support we've got the 4092 50 level and if that area fails we've got 4084 50 and if that area fails we have trouble in river city but really that trouble in river city would say price to just go target that daily green oscillator change length of 40 59 area so we know where price is likely headed to and you'll be able to know whether it did at 149 in the afternoon or not by looking at some interday charts here for the ES mini let's go see what the NQ charts are signaling to you and I so let's pull those up and the NQ charts are telling us what well same kind of situation we take a look at the 30 minute bar out there and so where is price headed to well on a 30 minute basis 12 989 50 could be a number the daily timeframe by the way the green oscillator and change line is really right at the center of its barest structured daily profile and so price does get back below the top of the profile which is 1310875 a move down to 12 79773 would be in order now we look at the 60 minute time frame chart out here its breakout area is a 12892 if we look at the 120 minute time frame chart it's got a nice td9 count top roads meant to mitigate her top as long as price remains below 1318412892 becomes its number on the four hour time frame chart what do we have not much but prices below its profiles this suggests 12820 and on the five hour time frame chart there we've got wave number seven that's letter g out there prices below profile well I take that back it's above profiles profiles are well below price out there it's a 12867 so where's the end queue headed to first level support is the top of that daily profile that's the first area to be watching that's 131310875 watch 1310875 you get below that then we're likely headed to 12797 here steep roads with tfnn you're right if you want to take advantage of this sector now is the time to subscribe to my gold report the gold report is a comprehensive look at the metal sector as well as the markets that move gold which is the currency and bond markets new subscribers get a 30-day money back guarantee so you have nothing to lose every monday morning i published a gold report with coverage of gold silver bonds the xau hui gdx as well as more than 30 different mining equities to see for yourself the types of profitable trades that are recommended within the gold report sign up now by visiting 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recording today's show it's 8.54 in the morning recorded early listen at one o'clock thanks much for doing that again on monday we're making a programming change Larry Pesvento is going to slide over to the one to two slot that's a slot that the Trader Z show has been using and i'll go ahead and take the morning slot between 11 and noon so be flipping that and that is effective on monday so you got the initial reaction so far from the jobs numbers you got all us equity futures trading the downside we're going to watch that days in for any kind of bearish reversal candles those would confirm sell the depoint patterns and suggest a further move back get down futures right now down to 15 s and b off 43 nasdaq down 186 gold is taking a move as a silver to the downside gold's off 20 bucks silver down 48 pennies those are the charts we're going to go move over to right now to take a look at where price may be headed there so we'll get to our multi time frame charts for the uh gold contract what we'll see is that price is first hit its first level of potential support and that was at 1785 10 1785 10 is the 60 minute td9 count breakout level if we see price move below 1785 10 then its message will be and i'll give you these numbers 1776 70 1779 40 1768 40 and 1770 that would be the target range now if we look at the daily time frame chart i'll just simply expand this chart out what the daily time frame did yesterday was it negated a td9 count top indicating that it wanted to rally further not i don't know what the end of day is going to look like for goldilocks but if this were the end of the day yesterday was a negation of a td9 count top suggesting higher price and today would be a dark cloud cover candle giving us a sell the d-point pattern and that would suggest price pulling back to the 1754 1758 1773 area but again it is early in the trading session and that first level of support 1785 10 is what's being tested now that's just a level of support i don't have any kind of bottoming pattern or signal whether it's for a 30 minute time frame now there's a big a to b equal cd to the downside pattern but that's such a wide-ranging bar the chances of getting a bullish reversal candle off of that in the uh pursuing half hour is uh very unlikely out there so folks thanks so much for joining us i'll look forward to seeing you on monday at 11 o'clock with the uh programming changes and stay tuned right now you got tomyo bryan up next with the morning market kickoff and you're listening at one it's your favorite polar bear david quite have a fantastic weekend and i'll see you on monday take care folks 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 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