 The following is a presentation of TFNN. The Trader's Edge with Steve Rhodes. At 1-877-927-6648. Or internationally at 727-873-7618. The Trader's Edge. Now, Steve Rhodes. Good afternoon, folks. Welcome to the January 14th, the terrific Tuesday or Taco Tuesday edition of today's Trader's Edge. I'm your host, Steve. Perseverance Rhodes, who absolutely knows that each of us should always be pioneers of our future versus prisoners of our past. Oh, everyone out there is having a great day. Hey, let's make sure we have an extraordinary one. And the easiest way to do that is to always remember that life is happening for us, not to us. That's right. We knew, and I 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. Not 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 those buyers and sellers are communicating to you and I, just past one o'clock in the afternoon. I want you to know that I'm absolutely grateful for your presence here, but much more important than that. During this next hour, I'm here to serve you. So feel free to give us a call at 877-927-6648. If you can't call in, no problem. We've got you covered there. Feel free to send me an email. Steve at TFNN.com. Inside the subject heading, please put radio show question. Of course, and our tiger is dead. Well, 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 Let's Show. Right now, we've got all indices trading in the green. You've got the Dow 139 points, about a half a percent to the upside. The S&P up five points, about less than two tenths of a percent. NASDAQ 100 really just turned. It's flat. It's up three points. Russell's up 13 points. So there's your big mover and shaker. Semis are up 9 tenths of a percent. That's 17 points out there. Transports. 100 three quarters percent. 148 points. They're trading out 11 to 11 out there. Spot volatile next back 24 cents. Gold is off seven. Silver's down 24 cents. Lights recruit up 24 cents. Got a lot of 24s out there. Natural gas up a nickel. As we speak, that's a little over 2 percent. Leading the charge to the upside. Corona therapeutics up nearly 10 bucks. Riyadh pharmaceuticals up nine. Restoration hardware up eight and change. Bacore holdings up eight. To the downside, it's Mercado Libre off 5 percent. That's $37. Amazon's off a little over 1 percent or 21 bucks. Martin Marietta down nine bucks or about three and a half percent. Molina healthcare down 6 percent or about nine bucks. The first question, only question so far that has come in. The question is on the two hour chart for the NQ. Let's pull that over here. 120 minute time frame. I can do that math. And the question is, did this thing make a peak G? We do the wave counts down here from this low on, it looks like January the seventh out here. We start doing our counts from there. The answer to your question is, yeah, I've got seven. I've got wave number seven as well out here. Price pulled back. But what price did John in the pullback? So whenever we get a topping pattern or signal out here, in this case here, it's both pattern and a signal, get into wave number seven. That is letter G on my screen out there. This is seventh letter of the alphabet. Then what sellers have the right to do and what they should do to, for you and I to be able to determine their strength is push price down to support. Now what we can see here is they did that. They accomplished that task and they were not able to get it really below support. Now, granted, there was a candle close right here. Let's go take a look at it. This was at about what, nine? A 10 o'clock this morning. So at the 10 o'clock hour, on a two hour timeframe chart, there was a close below. But Stevie likes to see not one hit wonders. That means a second close below. And that is not what took place. Now right now we've gotten essence of consolidation because price is trading between support, which is going to be the low of that 10 a.m. session out here, and resistance, which is Stevie's green line at the 90, 93 area. So it's kind of in the neutral stage. Is there a top? Yes. Did sellers push price back to where they were supposed to? Yes. Did they break the backs of sellers? And the answer there, and that's really important, the answer there is no. In order to really break the backs of us sellers here, you probably got to close below $89.3250. There's several breakout steps along the way to the upside. On the two hour timeframe chart, you've got $89.32, $89.84, and then above that $9,375. No change in trend signal. Just simply top with a normal retracement back to a level of support. So I hope that answers your question with regard to the NQ for its two-hour timeframe. Of course, the bigger timeframes, those are more important. We take a look at the daily timeframe. Let's just go stick with the NQ. We can see that price, even though it's a beautiful thing, I mean, it continues to move higher, but it's doing so with less relative energy. Now, that only becomes a problem for bearish reversal candle forms. But you might say, well, wait a minute, Stevo. I hear you. I see you. I'm following you. Well, what about yesterday's dark cloud cover candle inside the NQ? Was that yesterday? That doesn't make any sense to me. That had to be Friday. 1110. Yeah, this is a daily chart. There's something going on. I've been having some trouble with my data feed out here. That's a real bummer. Not the data. I'm not sure what problems or issues we're going on. Let me just, John, before I be not so fast, I want to make sure that the intraday chart was picking up the right price pretty close to it. Yeah. 9083. We're at 9085. I'm not sure why the little bit of a delay there. But yeah, it is. But for some reason there's something messed up on the daily timeframe chart. So I'm going to have to reboot everything. Can't do that during the show. But what we can do is just simply come on over here and take a look what's going on with regard to the NQ. You can see it's made a, so there was your dark cloud cover candle. That was from January 10th. But again, when we take a look at that chart, now I can pull this over. What price was unable to do, price was unable to close below Stevie's green line. That's really your first line in this case here because of its profiles. That's its first line of support. Price must close below that level in order to suggest, because that line was green, in order to suggest that there is a further retracement. For Jay in the Tiger's Den, here's what we can see. No new profiles. So the one that we were looking at yesterday inside the ESMini for its daily timeframe, in fact, did not form. Not surprising out there. Nothing new. The Russell 2000 is trying to join the ranks of the other three by closing above the top of its daily profile. The top of its daily profile is basically where it's trading right now. That area is 1684. We're trading at 1684. We'll forget the change out here. Now if price closes over 1687, 80, that is the high from 2019. Well, then it will join the ranks of the bullish breakout scenario that the ESNQ and Dow have in place as we speak right now, 113 in the afternoon. So watch that 1687, 80 area inside of the Russell 2000. We take a little bit of a picture, a snapshot of the health of the New York Stock Exchange. We're going to see panel number two in the center. That's the advanced client oscillator reading. That's taking a look at the difference between the 19 and 39 day, because we're looking at a daily chart here. Exponential moving average of the advanced decline line, advanced decline info. And it is above zero. That's a little red line going in the center of that chart there. You're at 46.91. That's bullish. Spotball atchilics below its 50-day exponential moving average, which is 1347. That's a bullish out there. That ain't no bull. Steve Rhodes with TFNN will be right. This is where 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 archive is available for all subscribers immediately upon signing up. All new subscriptions also come with a 30-day money back guarantee, so you have nothing to risk. Start your subscription by visiting the front page of TFNN.com today, and you'll find the TAS Profile Scanner under the Services tab. Sign up today. Are you in the market for buying or selling real estate in the Bay Area, including the surrounding St. Petersburg, Tampa, and Clearwater markets? Tiger Real Estate LLC is a firm that has extensive experience in the Tampa Bay Area. Whether you're looking to sell your current property for maximum value, or you're in the market for a second home or investment property, Tiger Realty has the experience across all areas of real estate in the Tampa Bay Area to help buyers and sellers make the most informed decisions across all price levels. From the price you should be paying per square foot in certain up-and-coming areas to the type of cash flow investment properties are capable of creating, Tiger Real Estate can help you make the best decision when it comes to all areas of the market. Before you make one of the biggest decisions of your financial future, call Tiger Real Estate LLC today at 727-329-8322 or email us at Tiger at TFNN.com. That's 727-329-8322. Call us today. Many of our new listeners have heard about The Tiger's Den. The Tiger's Den is a lively community where professional traders and investors can meet, exchange ideas and information in a comfortable moderated atmosphere. Hear all of the TFNN shows, plus see all of the charts as they happen live and have access to archives of all of those charts. You can test drive The Tiger's Den absolutely free for 30 days and greatly enrich your knowledge of these markets and how to make your money work for you. Details on The Tiger's Den are on the front page of TFNN.com. Check out the new TFNN.com now and experience all the upgrades. TFNN.com, educating investors. Folks, right now we've got the Dow off 138, up 138. The S&P is up about five, the Nasdaq 100 still basically nearly unchanged for the day. I do see a number of questions that have come in. What I'm going to try to do during this really while I'm on the air right here and everything else, so I see something popped up that I didn't necessarily intend for it to pop up. I was going to try to maybe see if I could get my other system here going, but nonetheless, let's just go with what we've got, right? We can always come back, and so it looks like the first question coming in is from Robert B. So his question here, he's got some other comments, but not necessarily more for me personally than for you, for all of us out here. My question relates to SLV. Do we have a change in trend on a long-term basis to the downside? That would be a good entry point to short silver. So I really do wish I had those other charts here in the post, but I don't. So let's go take a look at, and I wish I could find my cursor. That would also be a very helpful thing. What the heck is going on? Was it a full moon here recently or something? I think that it was. So let's go take a look at the silver contract, grab the information that we can. Let's look at silver this way. This will take just a moment to populate, but that's okay because it should give you a nice view, should give us a nice view of silver. For its daily, its weekly, its monthly, and its quarterly timeframe, but just simply take a look at the profile level. So what we're going to be checking for here is, in Robert's case, he's asking is there a change in trend. I really need my other tools to give us the patterns that are associated, but I believe that there is for these different timeframes. Now what we're just simply waiting for, excuse me, is for the profiles to populate. And so we've got the weekly, we've got the quarterly, and we've got the monthly. Now we're just waiting for these daily profiles to... But what we do know is that price is back inside the weekly profile out here, not seeing charts. Oh, well, thank you. Let me change that so that you can't see the charts. So there we go. So now you've got that. So now we've got the charts up here. And so, yeah, so price is below the bottom of its daily profile. That was a bullish structured profile. That is effective as of today. Now the bottom of that silver profile, man, is, let me get out here, is $17.92. So $17.92. So Robert, as long as there is a close below $17.92 today. Remember, we've got our little two-day rule out here that would include tomorrow as well. Then what that suggests to both you and I is that... And we'll use... I'll borrow one of Tom's expressions, and that is that silver's back in the range. What range is that? Well, on the weekly basis, it's the range of its TAS market profiles. The top of that box was $1805. The center, which is closer to the bottom, and it's a bullish structured profile. This is where buyers are lined up on the weekly basis between $16.95 down to the $16.58 level. So this would suggest to me that silver is headed down into that area. Price is above the top of its monthly profile. So that's nice, but that doesn't mean there can't be a pullback. And that pullback would be targeting the top of its profile. That's at $16.72 out there. But from... So, yeah, there's a... There is and appears to be a change in trend. Let's see if I do this here. Give me a moment to... New chart. Let's see if we can get... And I hate to do this during the show, but I usually have everything set up, which I did have it set up, but just wasn't getting the right data feed. But I just want to try to get a chart here of silver populated. So if you'll just simply humor me for a moment, let's pull up the March contract. Let's change this to a daily timeframe, a daily timeframe. Let's go to Stevie's template here for the daily without the TAS profiles. And let's see what happens when this thing populates over here on one of my screens. Okay, it would be good to populate. And let's see what price it comes up. Yeah, it comes up with $17.99. So this is showing yesterday's level, but that's okay. I'm going to go ahead and use that. So price is trading at $17.74 right now. What I also want you to notice here, Robert, is that the breakout level for silver was $17.81. That was based upon its most recent TD9 count pattern. And yes, this did form with bar number nine about TD9 count. Price is now below the breakout level of $17.81. And this would suggest that silver could pull back all the way to the $16.82 area. Now you would ask me about intermediate term, I believe. So I would have to change the weekly timeframe, which I will do right here. Now that oscillator and change line, I've got to change that just here for a moment until during the break, I'll get things kind of modified just a tad. But give me a second. What did I do there? Oh, here's what I need to do. So now we take a look at the, so on the weekly timeframe for silver and answering your question here, you can see that the actual top came in with a TD9 count. But that was way back on September 6, 2019. $17.87 is the number for it. It's oscillator and change line price trade in 17.75. So prices below that too. And all that suggests a further retracement is in order here. So I know that was a long-winded way of doing it, but it still was the accurate way to do it and to answer. So your question was, you know, where is a entry point? At this stage of the game, you know, I would have to say if you're going to go ahead and short silver be $17.92. That's the bottom. It'd be between $17.92 and $1803 out there. I always cautious people. Yes, I have a bearish outlook for gold and silver, precious metals. But what's really important here, you know, and that should help you. Now look, if you're trading that, and I know, Bob, you're good, like I know you're experienced trader and you're choosing the SLV out there. What I don't like about that, so to speak, is the fact that we know that gold and silver, certainly gold, they're going to move because of geopolitical events out there. And so in order to really take a short trade in those precious metals out there, I would think you have to say to yourself that all the geopolitical concerns out there are at least at a normal level. What would that be? Norad level number one or something? Who knows what? At a normal level versus, let's say, a heightened level. And I would have to say that we're at a heightened level, so to speak, out there. So yeah, everything is set up so that gold and precious metals want to continue to pull back the mining equities as well out there. But to actually go ahead and dip your toe in the water to take that short position at a time where we clearly know, like we clearly know, you and I, there's no magic here. There's everybody that used to say, and everybody does say that because of quantitative easing, gold is going to go to the moon. We know that that's a load of malarkey, because that is not what unfolded out here. So don't try to confuse, I'm not saying you, Bob, and you might say you, I'm just us out there. Don't try to talk yourself into that the easy trade on gold or silver, precious metals is, jeez, if we're printing money, it's got to go up. It's not how gold operates. That's not how silver operates. But Bob, in answering your question, yeah, it looks like silver wants to head lower. Change in trend signal today. Steve Rojo, T.F. & N. Hope you're right. T.F. & N. 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 in 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 T.F. & N. 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. 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For all the details and to start your 30-day free trial today, log on to tfnn.com now. T.F. & N. 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 at 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. Welcome back, folks. Dowell 135 S&P is up five points. Let's go to our next question. This one coming in from Lee. Lee writes in and says, I bought Cronos, or C-R-O-N as a ticker symbol on a pullback this morning. Give me your take on both the short and longer-term outlook. Let's move over here and take a look at Cronos Group. C-R-O-N is the ticker symbol. The very first thing that we know, Lee, is that price is trading below the weekly and monthly profile level. Those are going to be your resistance areas. That's going to be $790 and $836. Doesn't mean price can't retake those. Just know that that is your resistance level. That is the bottom of a profile out there. If price can get above that area, then that would suggest on the weekly and the monthly time frame chart that you would be targeting the center. Those are both bullet-structured profiles out there. So then you'd be looking at your next resistance would be somewhere between $890 and $1022. Now price is trading above the top of its daily box right now. This could be the second day in a row. If it is, this would be the second day in a row since that box has been in effect. That would kind of qualify as covering Stevie's two-day program out there. So your question was, can you give me your take on both the short and longer term outlook? So let's go take a look at the daily time frame. $774 is where it's printing. This chart does not have today's data out there. So let's just keep that in mind. This would suggest, now this did have a nice little erosive indicator bottom pattern out there. That bullish engulfing candle back in November, give you the date. That was November the 20th. So you got that nice bottom. And if in fact, Chronos is getting our CRO in is getting ready to move the heck out of here. Its target on the daily time frame would be $1177. Let me go take a look at the weekly for you. See what's going on there. The weekly also has a rose momentum indicator bottom pattern out here. Its target to the upside would be $1241. So, you know, if you have any other areas, hopefully you wrote those down on a pad of paper, your other areas of resistance. And then on the monthly time frame it shows that looks like this may be a TD set up nine count bottom. That is in effect out here. And so, yeah, everything looks pretty good. Just know that you've got some resistance there, Lee. That $790 and $836. Those are going to be your first real critical areas to get through. So best of luck with that and that's going to be a great opportunity to get a little bit of a little bit of a push investment. HD writes in and ask if we could take a look at PYPL. I believe that's PayPal out there. So, let's do that. Let me move over and change over my other charts even though we're only looking at yesterday's data. The question is going long. So, there's two positions out here looking at. So, in the case of PayPal, PayPal has, you know, clearly broken out prices above the top of the daily. Prices above the top of the weekly. Looks like prices headed to the top of the monthly. That's $1,1752. Nothing to give us indication whether price will be able to take that out or not HD. So, I don't see the reward risk set up here knowing that you've got trading at $1,1481, knowing that you've got resistance in that $1,1752 level out there. Looks like on the daily timeframe chart this will become day number seven of a TD set up nine count pattern. It did form in the case of PayPal, a nice road momentum indicator bottom with that hammer candle back on October the 23rd. So, the daily, the only caution on the daily might be a TD nine count pattern that it could form. The weekly, this is going to be bar eight of a TD nine count out there. So, this also, we know that if this pattern were to identify a top or a bottom, in this case, you're a top, that could occur on bars eight, nine following nine. And on the monthly timeframe chart here for PayPal, prices begun moving higher doing less relative energy out there. So, I would say, in looking at PayPal, not that it can't move higher, and in fact it should move higher. It should move up into at least that one, I can't say at least, it should move up into that $1,1752 range, but I don't see the risk reward there for you to take that type of a trade. SHAK So, let's go take a look at it. And this is a ShakeShack. So, ShakeShack maybe has more to offer. Maybe, maybe not. Let's go take a look at it. Here's what we know about ShakeShack. Right now, if this is going to break out, and when I say break out, I'm looking at a daily timeframe chart, what we can see here is not since September 24th has ShakeShack been able to trade above resistance of its task market profiles, resistance being the top of the box. Now, brand new profile forms today. The bottom of that profile, as you can see if you look in the data box, bottom says $59.23, top says $62.31. It's trading at $62.85. If ShakeShack closes above that today, and then again tomorrow HD, well this would be a suggestion to you and I that it should continue to move higher. Now I don't know if it's found a bottom or not, one of the tools that I use to identify a bottom, but just because it may or may not doesn't mean that there's not one that's out there. So you can also use these profile levels to say, hey, it's now doing something it hasn't been able to do for quite some time out here, and this would suggest that it does want to move higher. Now, we've got that real gap to the downside. That could be a resistance area in around the 71 and change level, but that's what the daily timeframe is showing. The weekly timeframe is then saying, well if you can close above and maybe change that trend on the daily basis, what price ought to be able to just get up to the top of its weekly profile. So your target, your initial target out here is going to be 65.86. Now the monthly, the beautiful thing about the monthly is that it is a bullish structured profile and the top of that box is 78.31. So 65.86, 78.31 are your price targets. Remember, this chart here does not have today's activity. We're just trying to scan to see if there was a bottom and voila, there was a roadsman to indicator bottom pattern. There really were two of those cameras. So Shake Shack is, at least shareholders, are most certainly trying to form and identify a bottom out here. The target level on a daily basis for Shake Shack using Stevie's tools is 103.76. That's its TD9 count resistance level. Of course, there's other resistance before price were to get up there. On the weekly timeframe for Shake Shack out here, HD, we can see that what price did was it pulled back to test its breakout area at 58.15. We can see that the green line had turned red. That tells us about a meetup between price and the oscillator and change line in the 67 area out here. So if you're asking me which of the two should you take a trade-in to the upside, if you're a momentum trader, well, then you can do PayPal knowing where you've got resistance. If you are trying to buy a bottom with the intent that, okay, it's been a solid bottom, I think we've just proven that the stock market is at least nearly a million weekly at least have lined up to where they have formed that bottom type pattern. So you go ahead and take the trade. So depending on your nature, you'd like to see a second close above 62.31. You'd like to see a close above that today out there to suggest that a change in trend may be in order for Shake Shack. So HD, thanks so much for writing in. Much good. Thank you so much. I'm Willie. Willie wants to take a look at ticker symbol here LX. So let's go take a look at that and see what that is. LX is Lex, Lexine FinTech. Lexin FinTech. Okay. It is what it is. It is an IPO that takes us back into the 2018 January 2018 timeframe prices trade back to $1,000 a month. So we're going to take a look at the weekly nothing in the monthly timeframe chart. This suggests. You want to buy this. You're not in. So when we come back to this break, we're going to go take a look at how this has given you a nice topping signal. Price should pull back to 1306 to 1331. We'll be right back. If you're in the CD market and looking for a secure 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, the best rate for a four year CD in the country as of February 20th is 3.1%. A $50,000 investment at a normal target for a mortgage program would give you 3500 per year or 14,000 over the four years. What should you prefer? 6200 or 14,000 of interest on your investment. If you'd like more information about the target first mortgage program, you can call me at 877-518-9190. That's 877-518-9190. 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Let's continue looking at ticker symbol LX that is Lexfin Tech Holdings out here and we can see the prices trading above the daily and the weekly profiles out there but those profiles are not going to be used to help us identify topping patterns. What would help us identify for example the TD setup nine count pattern so when this equity formed its most recent bottom it was back here on the trading day of December 13th it was bar number nine of a TD nine count. Now what it's done is it's moved up and it formed a roads momentum indicator top it did this on Friday January the 10th it had follow through yesterday. Oh wait a minute no I've got the 11th so it's missing the 13th so my system is chugging along here but it hasn't completely filled in everything very no that's just picking up yesterday's data my apology there but here's really what I wanted to what we do know is it's trading below Stevie's green line out there both yesterday and now today you've got the topping signal and this would suggest that this could pull back to 1166 out here that is the breakout but it suggests that it wants to pull back further at least that's with the daily time frame and you're looking to enter this so we're going to still suggest at this stage here watch the 1331-1306 level inside this symbol on the weekly time frame chart the area to watch give or take penny wise is around 1308 that is Stevie's green line no topping signal here on the weekly time frame chart that's okay the daily right now is ruling it nothing to nothing to on the weekly side nothing to suggest that this doesn't want to continue higher that this is just a topping signal on a daily basis to go ahead and pull price back to a support level and so you're in between that 1308 1306 1331 level unless there's something that transpires you know on the way down or something like that but that's how I would take a look at it I hope that that helps you out with regard to ticker symbol Alex and thanks for writing in I don't see any other questions that have come by email believe that there was one inside the den with regard to the spy and what was the question with regard to the spy so let me take a look at it out here the question was short-term levels of resistance on the spy so let's go ahead and put this spy we could do this if you wanted to right why don't we do this it may take just a moment to populate out here but we're going to take a look at the spy we can do this with the ETF and with this I can provide for you the daily weekly monthly and quarterly profiles now my experiences I rather rely upon the equity futures contracts but that's neither here nor there you don't need me to harp on that but you're looking for what was it resistance level support levels what was it where was the question here I'm just looking for it my apology but the spy and comes and goes spy just short-term levels of resistance well just for levels of resistance on the spy when we take a look at this chart out here and that was Jimmy I think you're asking about short levels of resistance out here now we take a look at this set of tools take a look at the daily the weekly the monthly the quarterly man everything is above those resistance levels so where's the next resistance level short-term unfortunately I've got some issues I've got some data feed issues so I don't know my short-term time frame charts up here you know that I can can can post you back to but I just simply want to give you maybe the the bigger picture out here how can I do that well but take a look at the S&P 500 so you're asking where is resistance out here so let's use the cash on this chart and this is really helpful when prices above you know like a TD 9 count breakdown level or it's an all-time highs or it's above there's no task market profiles so here we can take a look at our horizontal trading ranges on this chart what we have Jimmy is we have the daily weekly and monthly and what we can see here is that the S&P 500 is run into its monthly horizontal trading range that's about $32.97 the daily is $33.19 and the weekly is $33.60 so those are really your resistance levels that we have out here inside the S&P and take a look at daily, weekly and monthly time frames out there so I hope that helps out if I take a look at the ES mini now so the ES mini is going to look different than the S&P 500 what the ES mini is suggesting to you Jimmy is that where it wants to head to is $33.59 to $34.02 yes I don't have the daily profiles up here I can add those give me a second here to do that and so here are the dailies you'll see the dailies are really up in that same general area so with regard to the futures contract I know you're taking the side you're taking the downside side of the market out here and yes price is moving higher doing less relative energy no doubt about that that's part of the rose momentum indicator signal and it's like that through a plethora of symbols and it says that you need to be cautious however are there other real sell signals out here to suggest that you or somebody else take that short position now from an intraday standpoint now you may be an intraday trader but I've got folks listening in right and I don't want them to confuse my language and maybe you're looking at a 10 or 30 minute chart or something along those lines so really just trying to give you the bigger picture but even using these larger time frames here's a 30 minute time frame we can use to try to make a determination okay so you do have price now below perigee okay so that's good so that would be a short term positive it's not though it's not below that level a key level that came in yesterday about 431 I believe in the afternoon but it's not below that level for the Dow which has been weaker over the last week we'll say or whatever the Russell 2000 yeah you've got to tread very carefully out here I really think you should tread very carefully this is still a buy the dip market it still is even at this point in time yeah I mean the advanced decline here so I can do this for short term let me fire this up here because let's just say this way I can try to help out everybody for their different time frame so let me if short of some type of topping pattern and I don't have my short term time frame chart so I can't go there to determine whether there is or there isn't so let's not spend time there but what I can do historical data still being loaded what the heck so strange some of these there we go so in this case what I'm going to do is pull this over here now what this is we're taking a look at the task market profiles and we're taking a look at their 60 minute 240 minute daily and weekly and so Jimmy another reason to really consider treading slowly let's just start with the 60 minute time frame I've got one more time frame I could look at I do have a way to pull up a 30 minute time frame I don't know if I have it on this computer yet but here's what you do know right now as we speak that move lower was some kind of news event out there right something something I saw some folks posted some things in the dam when I was busy doing other stuff let me tell you about market breadth on a 60 minute time frame it's very bullish as we speak right now there's 98 stocks from a 60 minute time frame within the S&P 500 trading above the top of their 60 minute profile oh 285 285 versus 115 yes tread light my friend 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 enhance the degree of accuracy in calling price turns as well as market trend calls thus 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 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 at any time during that trial and pay absolutely nothing get your two week free trial to Basil's newsletter the opening call today by visiting tfnn.com the gold market has taken off top side in a large way in 2020 if you want to take advantage of this sector now is the time to subscribe to my gold report the gold report took profits in four of our portfolio in the first week of January for a combined profit of 99.2% with two positions left in the portfolio that have a profit of 67.5% as of January 7th 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 publish the gold report with coverage of gold silver bonds the XAU, HUI the 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 tfnn.com don't miss out on the next great gold trade sign up today you know what's cool taking something that's good for you something specifically formulated to help with weight loss better sleep stress reduction and the need to detox Nicar hunter and gather ancestors found all their nutritional requirements for they are food sources no longer contain the vitamins minerals and nutrients our bodies need to stay healthy and strong that's why we need primal edge daily nutrition it includes a special blend of ionic soil based vitamins minerals fatty and amino acids in an easy to use liquid form primal edge is powered by highly concentrated folic and humic acids nature's preferred delivery system they've been called miracle molecules because like some light air and water life can't exist without them that's right page here we receive all the nutrition we need to be healthy and thrive we take it every morning primal edge formulated and approved by nico and page 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 folks that was up 66 s and p is off about one point out there jonah that was asking was indicating that the nasdaq composite i had generated a sequential cell signal so jonah i'm assuming that it just fired off the 13 count out there but hasn't closed back below obviously to give you a confirmation of a sequential cell but i'm pretty sure that it's gotta be because we're up at all time highs and the question is does it have any meaning or something like any significance and the answer is yeah it joins a list of reasons to be concerned to absolutely be concerned to anticipate but it's all about trying to time this thing and when i say a host of other things here's the roge momentum indicator that is going yesterday was bar number seven today is going to be bar number eight of a td set up nine count so we've got these patterns that are in place in the case of nasdaq composite at least first has to close below its oscillator and changeline around 91 91 out there it joins the weekly time frame chart give or take because they don't have today's data or the nice a to b equals cd pattern you know bearish reversal candle on this would confirm a butterfly cell but it's not there we've got to wait for that on a weekly basis we're not we're not there and then it would need to close below 89 58 to really be of significance out there but that doesn't mean it wouldn't be worthy trade on a daily time frame once we get a decent cell signal and on the monthly time frame chart here prices moving higher doing it with less relative energy out there so all types of reasons to keep you know keep our eye on the ball out here it is just it is just looking like 2020 is going to be maybe a difficult market to navigate so we'll just simply rely on these patterns that have been working will keep our eyes on support resistance we'll look at market breath we'll look at everything we can to assist each and every one of you out there thanks so much for joining me on terrific Tuesday have a great afternoon stay tuned to great hours coming to you next David White your favorite polar bear Tom O'Brien I'll be back with you on weird Wednesday take care