 The following is a presentation of TFNN The Trader's Edge with Steve Rhodes All now toll free at 1-877-927-6648 or internationally at 727-445-1044 The Trader's Edge Now Steve Rhodes Good afternoon from TFNN Welcome to the April 17th, the wonderful Wednesday edition of today's Trader's Edge show I'm your host D.B. Perseverance Rhodes Who absolutely knows that each of us should always be pioneers of our future versus prisoners of our past Hope everyone out there is having a great day Let's make sure we have an extraordinary one And of course the easiest way to do that It's to always remember that life is happening For us, not to us That's right when you 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 Today you and I, we get to go check on the circumstance of these markets We get 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 most importantly, I'm here to serve you So feel free to pick up that phone You can dial on in at 877-927-6640 If you can't dial in, you can always send me an email Steve at TFNN.com Inside the subject heading, please put radio show question And in the Tiger's Den, well any ping it will do So let's go ahead and get this show started on wonderful Wednesday Of course this is Tiger Financial News Network I'm Steve Rhodes, welcome to Let's show right now the Dow trading up 7 points 26,459 S&P's up 4 NASDAQ up 28 Russell down 14 That's the big loser to the downside Up nearly 1% The semis are the big Semis and transports kind of neck and neck Each up 1.25% 19 and 138 points respectively So we've got a mixed market to say the least Gold's off a buck 40 Silver's up a penny Lightning crude is down 9 cents Leading the charge the upside it is domino's pizza DPZ up 4% Up 11 bucks Google's up 8 Qualcomm is up 7 We're going to start there because one of our listeners Larry T LT is what we're going to call him He's fortunate enough to be long Qualcomm And was just simply asking for potential price projections And I'm a swing trader by considering holding long term From Eden Prairie, Minnesota out there So let's go take a look at Qualcomm And so you mentioned long term So let's take a look at the long term chart And see what it says That's like at the monthly timeframe So Larry here's what you know Here's what we know Here's what traders know The last time that Qualcomm had resistance It was up here in July of 2014 July of 2014 Was actually a key reversal session out here That meant that the prior months high and low Was exceeded And that the price closed in the opposite direction Of the trend out there 81.97 Let me just make sure I grab the right 81.97 is it Now if you take a look at the high so far today The high is 82.52 So this is a classic 100% move of a move The question is will price Larry you and I know why price has stopped where it has The question is will it be able to take out those highs Now look Volume metric wise The volume back in July of 2014 Was 218 million It's only April 17th Here are 328 million Chances are even if it doesn't Bus through 81.97 It's going to be retested However What I've added to this chart here The white horizontal lines are your monthly Because it's a monthly chart we're looking at They're your monthly horizontal Your monthly excuse me Taz market profiles But I've also added the quarterly And the quarterly yes The quarterly doesn't end But just try to understand that $78 even Steven And we're at 78.10 As we speak right now Is a real resistance level out there The question really that you're asking for Is can Qualcomm make the larger 100% move of a move Can it get buck Can it get buck or back To 100 buck even Steven out there I don't know the answer to that What I can say is that My goodness you have gotten a nice run A nice gift Winner winner lobster dinner Out here Do I see a topping pattern Per se out here If I look at the daily timeframe No just signs of strength Wide ranging bars Gaps to the upside But at the same point in time LT It has been winner winner lobster dinner If price wasn't sitting there at that resistance Hadn't test 81.97 Maybe we'd have a different call out here But right now Man that was a That's been a nice trade Not saying that you don't want to hold this long term But If it's me I guess you're kind of getting You're kind of getting the gist here Go buy a nice lobster dinner Go get some nice sushi meal Get a great bottle of sake Or Cabernet or just simply Just put the money away out there Here's what you can do right And this is a Obi-Wan Kenobi trick out there Take all your principal off the table Right so go ahead Sell what you've got Get that principal back And let the profits ride If you want to just kind of Think about sticking the drawer And let it ride You know go for it But you're up at a resistance level That is held before No idea if it's going to hold again So hope that helps you out And that was with That was for Qualcomm out here I see that Chris B writes in Chris writes in And he's long SRCI So we want to go ahead And type in SRCI See what the heck that is We'll do the same thing Take a look at its three different Timeframes for daily, weekly, monthly profiles But let's finish reading Chris's question So he said he's long Bought what you bought today Okay and looking at the chart It has made a nice bottom On February 1st Okay I could see the nice bottom Out there How high do you think this can go? A Calculate to 0.382 retracement $7.50 Do you think you can go higher Like the 9 to 1140 Or even 13 Buccarooni Area out here Well here's what we know right now Chris just looking at these charts Is that price is above The daily and the weekly profiles Out here So that looks pretty good Because once you're above that resistance And I don't have a new profile out here To provide to you Just with regard to your figures It's not that I'm going to ignore your email Out here I'm just going to open up the chart Then your question was I think one of your questions was You know how high can this head to So the next level There's really kind of I'll give you the range The next level of resistance out here Now we haven't gone to Take a look at my other charts And try to identify Some type of potential Topping pattern We're going to do that here In a moment But as far as Upper threshold price targets That this could be targeting Are these swing points in the 8.83 to 9.25 level out there And I know you had mentioned 9 So that kind of qualifies 11.40 I think we're going back even further We've got to take this One step at a time out here Am I concerned about today's candle No I'm not It's not a bearish candle Not just yet It could be dependent on the close But let's go ahead And pull over SRCI Let's get the current date out here And oh I didn't I I guess I missed yesterday's candle So yesterday's candle out here Was a bearish reversal signal With price moving higher Doing less relative energy out there And today was a test of that high That's the shooting star candle And it just says okay caution Will Robinson you could see a pullback In other words today Probably wasn't the right day To buy it Did price make a nice bottom Back in February after retested A prior low after retested That Tommy DeMark set up trend line Yes it did But right now it's very possible That SRCI is going to pull back And at least test TV's green line At 613 See roads with TFNN We'll be right back The Taz Profile Scanner Is the most revolutionary piece Of trading software that you will ever try Wouldn't you like to approach the markets With confidence As you begin your trading day It's likely that you'll be faced With lots of decisions In order to make the best decision The first thing you'll need is a strategy That will help you minimize your risks Whether we're in a bull or bear market A good strategy is to have the tools needed To help you scan and analyze the markets Before you trade The Taz Profile Scanner Instantly scans and filters Over 2,500 global financial markets Such as stocks, ETFs Commodity futures and forex Headed by Steve Dahl, president Of Taz Market Profile The Taz Profile Scanner understands That in today's technological world The use of top-flight software applications Automated trading algorithms And technical analysis expertise Is essential to successful trading In today's market Whether you're looking at the trade matrix The ETF heat grid The market breadth The landscape charts Or the many other features Of the Taz Profile Scanner This is a piece of software that will Revolutionize how you look at the markets And set up your trades The team at Taz has even put together A 12-part video series to walk you through Every aspect of the Taz Profile Scanner Which you can find directly on the Taz Order page At TFNN.com Sign up now for only $97 a month With a risk-free 30-day trial So you have nothing to lose And everything to gain See for yourself how you can harness The full power of the Taz Profile Scanner By visiting the front page of TFNN.com today And you'll find the Taz Profile Scanner Under the Services section Remember, with a 30-day money-back guarantee You have nothing to lose Don't let another day pass you by Without trying out this amazing piece of software That will revolutionize how you look at the market And how you place trades Sign up 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 TFNN has launched our brand new website You can still visit us at the same TFNN.com URL But when you do, you'll see a new and improved homepage With a much simpler 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 TFNN.com now And experience all the upgrades TFNN.com Educating investors Call now Toll free at 1-877-927-6648 Internationally at 727-873-7618 Now folks, the next question that came in From The Tiger's Den Is coming in from Mr. Z Question is this move lower in IYR IYR is the real estate sector With inside the S&P 500 Is it a sign of a top in place As you see it Now are you referring to just simply IYR it is Z Or you're referring to a top in place With regard to the S&P 500 And its correlation To the S&P leading indicator I'm not sure, I don't want to over read it But Just a top in the IYR Okay, so let's go take a look at that Possibility, so let's begin By taking a look at, since that's the ETF The real estate sector represents About 3% give or take I know it's in that range Out there with inside the S&P 500 Here's what we know right now Just in looking at market profile Information, let me just expand out On the daily time frame And the pullback so far Over the last couple of days Again, it's a daily time frame we're looking at Has pulled back to One possible support level That possible support level is the top of its Daily profile which it had broken Above back on March the 11th Old resistance Becomes new support And that level is 84-86 What we can see here Is the only test of the top of the profile It has not gotten down to the bottom Or close below the bottom It would be easier for me to say to you That this would be a clear change in trend If we had a close below the bottom Of that daily profile Now that's obviously a bit of a lagging indicator But you're asking me to Answer the question Is the top in place as we see it Not as of April 17th Because as of April 17th At 1.20 in the afternoon Price just simply pulled back To test A key level of support After making a 52-week high Three days ago So that's what that says Now let's look at the daily time frame chart With Stevie's other tools And take a look at the high that it did make Or how did it make that high Let me get my crosshair out here My crosshair says specifically When this little doji candle formed Out here on April 12th Price is moving higher to a less relative energy Out there. We've had a couple of bearish Reversal signals up in this area Here towards its all time Or its 52-week high I should say Maybe at the all time high as well But we can see that the bears have shown up Strength The relative strength it's gotten weaker And you got that Our cloud cover, it's a bearish reversal signal Back here on April 16th And it's moved lower and so far at this stage If we just looked at this Price has pulled back to a level of support Now I don't have the market profiles on here What I do have on this chart here Is the Tommy DeMark set up trend count And the next level of support for it Or its level of support I should say Is 82-98 82-98 Where's 82-98? It's pretty close to 83-65 It's fairly close out there I believe you would have to see So you got the topping signal in place By topping signal I mean That you're going to see some type of retracement Could extend to be more than that No doubt about it But right now no levels of No key levels of support Have actually broken inside the real estate sector However What we can see as we speak right now And the week is not over We have one more trading day that is tomorrow On the top of the weekly profile That's 85-33 So come tomorrow I'd watch to see You know its price above 84-86 Really I'd say 85-33 would be the more clear Signal if it was If it is above that Then we don't have a We don't have a conviction signal That's just some term I made up there If it's below 84-86 So it's back inside the box We had an 82-dollar figure We got 83-65 And the bottom of the weekly would be 82-11 And that would say that price would actually Pull back there now on a monthly basis And the month is not over It ain't over till it's over Well we can see the last few times The price has been up in this area here We can see that The price has been moving higher Doing less relative energy on a monthly basis You've got bearish reversal candles We don't know if this will be a monthly Bearish reversal signal That it is a top Is it a major top I just need to see a level of support Broken Really similar so here's the IYR That you and I have been taking a look at Okay we do have a caller on the line So Mr. Z that's what I see I'll segue that into the EES Mini After we go to our next caller That's on the line and that is Ron in Denver Ron thanks for calling Kathleen how are you Very nice Steve and thank you for that Information on Qualcomm because I did At a hundred shares I bought about three years ago And they went through that Buyout deal and I missed it And it came back down so I will Take your advice and get out now Yeah I mean it could go higher Just kind of we look at the charts We say hey you know this thing is One it's had obviously great run In the last 20-48 hours And it's up in a place where there Is a lot of resistance You know Yeah I agree I'm going to Take my profits and run on that That's a long term usually A lot longer term and I usually hold I'd like to mention one stock that I Am buying today and why And I'd like to get your thoughts on it And that's a Rampco I'm not a Rampco and tarot Resources that they are Okay go ahead They say they initiated a dividend And they're going to effort 0.3025 And it goes to stockholders record On 426 So you go back about four days I guess For X dividend date but that's a good dividend If they maintain that for the quarterly Over the year And then there's some insider buying And so I thought This would be to me I think a good long term For me a good long term buy And I just want to watch your thoughts So you need some insiders to buy a bit more So give them a call would you You can find them on the internet Somewhere in there I saw Insider buy I don't know how much it was Sure sure sure sure When it made a bottom back here on March the 12th it was moving lower With less relative energy there's a daily Time frame this thing gapped up on The following day that's your bullish Reversal signal here And so it shows you that It is trying to form a bottom But really ever since then about five Days after that it has just been trading Sideways it has not really been able To take out on this chart here Any clear levels of resistance Now if we come back and we take Look at this daily time frame And we take a look at it's TAS market Profiles on the daily basis there's No clear level of resistance that it has Taken out 905 which is the center Of the box out there run Is a is an area Because this is a bare structured box Where sellers are lined up in addition To those at the 941 level But 905 is actually held as resistance Here look you have a You can you can see some rising Bottoms out here You can see some rising top so it's Not as if I'm seeing a A sign here that says You know you need to exit or anything But price We did what it doesn't really have That you would love to see Is a sign of strength off of The bottom some type of Wide price spread and accelerated volume Doesn't have that doesn't mean it won't Get it but it's trading Below the weekly resistance level That's 928 so as you Stay within this as long As price continues to move Higher you know you've got 905 to look at you have 928 to look at and you also Have 941 unless the profiles Change so Again I don't see a reason for Me to say hey bad move Okay well I'm I got in for the dividend and we'll see What happens over time if people Like that you know it's better See how solid that dividend is Sounds great thanks for calling That was Ron in Denver that was Antero Resources AR 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 trade that we Tigers and Tigers share if you're 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 mastery 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 Six and three months timer digest Also ranks me as the number one 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 To sign up today The path of least resistance is David White's daily trading newsletter Active trading ideas that 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 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 And visit 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 Let's go on to our next request Out here this is from Ruby inside The Tiger's Den who wants to take a look At Palladium and Platinum The chart that I have up on my screen If you're watching us on Tiger TV Or like oh where's price Turn price off at this date specifically For Ruby is because There's a brand new TAS market profile That formed today and by daily I'm referring to the blue horizontal lines Out here so Ruby what I want you to be Aware of is that this was a bullish Structured profile the bottom was 1330 The center was 1342 And the top is 1371 50 now Ruby Is long let me turn price back On what you're going to see is that price Is trading above the top of the daily Which is 1371 50 we talked about that It's trading at 1379 20 so that is a Nice bullish message here You'd love to see this close above 1371 50 today if it does so Then that Is the first close above The top of a profile For you know Several weeks out here and so That would say okay changing trend In fact may have occurred inside A plating now the next move for it Assuming that it stays above the Top of that profile would be the bottom Of the weekly profile the bottom of the weekly Box is 1438 so 1379 I would say that is Your next Target area Inside of palladium on the 60 the 120 the 240 minute time frame Charged nothing out there to really Make you aware of we take a look at Platinum out here Let's go see what its message is And we're primarily right now just looking At the daily so in the daily Time frame what we can see is that Price is above both the daily And the weekly but we've seen Price pull back out here so the Question becomes what Happened let me see if I can I may have to pull up on my other charts The Continuous contract but that's okay It'll at least give us The patterns or the potential Patterns just trying to find That right now do I have I do Not only got April of 2019 And I know that is not the current contract So let's put up the Let's put up the continuous Contract and try to figure out Ruby what happened up at that High if we can if we can find anything So here we go with this chart now we Know you and I know that when Instruments make highs or lows Regardless of the time frame regardless Of the instrument it typically Does so with a handful of patterns one Patterns is the Rhodes momentum Indicator signal and What Ruby or what platinum generated Out here on April 9th was a Confirmed At least short term top You got that and then price the next Target so the first target here was It's a Stevie Green line a Soslater and change line and a few Days ago we got a close below That level on April the 15th Right now it appears to be doing A time to mark set up a nine Here although we don't know that We're only in day four we can't Label today's We can't we can't generate a label Today until the end of the session Is done but it does look like what Platinum wants to do because of that Top is pulled back to another Level of support so once it gets Below Stevie's green line in this Case here we can go to the Tas market profiles so that's Going to be there a 74 40 or 865 20 as a target the 10 So that's what I see when I take Look at the daily time frame charts Here for platinum and I hope that That helps you out so Thanks for writing in much Appreciated we've got some other Questions out here as well was There any in the Tigers den it so Easy for me to overlook those I Don't think there was I think I've gotten everything out of the Den but I take that back and Because let me take care of these Other questions and I'll come back To the ES many both for Peter And for for for for Jay and You know I've got this this kind Of very advanced warning Indicator tool that I use to Identify if a new profile is Trying to form an 11 o'clock There was a new one Jay that Was trying to form inside the ES many we're going to use That with regard to today's Close and the importance of That we'll get we'll get to that Let me get to like John F. Here in Sarasota he writes in And John wants to know do I Stay with Mercado Libre M E L I is the ticker symbol Out here and M E L I let's Go take a look see what it's Doing so John it's a You know it's trading above It's trading with inside its Daily profile no problem there The problem would come if you Saw a close below 481 78 No big deal here You know the big deal would be A close below 481 78 would Bring you to the 476 Or the 425 level That's not our call just yet If we bring over our other chart Where we can really see the Topping signals out here was on The trading session of April 12 So price had been moving higher It would been doing it with less Relative energy but the bearish Reversal candle and Mercado Libre The green line 523 36 Says more of a retracement Could be or should be An order so what you're gonna I would say I don't know where You're in from and you say Stay with it you know if you've Been in this for a long time You had such a sign of strength Out here on the February 27th I would want to see this break Support and right now that would Mean a close below 481 78 Before you got out price You know there were some Topping signals that you and I Had looked at on that other Daily chart out there but that's What I see when I take a look at Mercado Libre you were also Asking about ticker symbol I O N S which is a pharmaceutical Company here and that has had A huge sell off today as has The entire healthcare sector And many others so if the Question is you know should You stay in this equity out I do not like what you saw today Now the question becomes this Thing had a breakout Let's go identify where that Breakout is we'll put some yellow Lines out here you're going to see The top of the breakout that Wide price spread accelerated Volume was at 72 20 even Though the breakout day was February 27th and the low There was well I don't know What it was let me tell you What it was the low there was The high as a place where this to Me that's where the breakout Really began at the 5698 So as long as below 72 20 Going back to 5698 Is in the cards at 5677 pretty darn close There that's the top of the Weekly profile 6092 Is the top of the monthly so I O N S It formed a top just like we Looked at so rose momentum Indicator topping signal that 10th out here that's when that bear Sash candle we've seen several Bearish reversal signals protecting The highs it just tells you John That sellers are hanging out there What you can do if you're in this Is wait for a see if this closes Today before so last bastion Of hope out there Is that Tommy DeMark set up Trendline that began on the Trading session the low of March The 12 that low was 71 bucks Even Steven if that gives Pulling back further And we have the price targets Whether it gets those price targets or not I can't say so you've got your last bastion Of hope out there I will also Say this could be a longer term Pull back a longer term top and The reason is because it looks like The month of April will be The nine count of The longer term Tommy DeMark Set up a nine count pattern That is out there so I would just be careful inside Of this specific stock probably The entire sector until we see Some type of decent bottoming Pattern out there So John thanks for writing in When we get back we'll take a look at We'll go take a look at that ES mini Then we'll get to Brent In California Earl And it looks like gas buddy I don't know who gas buddy is But we'll be right back If you're in the CD market And looking for a secure investment Which program may work for you The security for these first mortgages Are building lots in the tax opportunity zone In St. Petersburg, Florida The tax act of 2018 set up tax free zones Across the country where you can build and hold for 10 years And pay no tax on the profits Which makes these lots valuable The investment is anywhere from 30,000 to 75,000 The interest paid is 7% yearly Paid on a monthly basis According to bankrate.com The best rate for a four year CD in the country As of February 20th is 3.1% The investment at a normal four year CD rate Of 3.1% would give you income Of $1,550 per year Or $6,200 over the four year period That same $50,000 investment In the Tiger First Mortgage Program Would give you $3,500 per year Or $14,000 over the 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 newsletters page of TFNN.com What are you waiting for? All of the TFNN newsletters Are informative, up to date, affordable And a must have for every trader Looking to gain a competitive Informational edge in today's markets TFNN newsletters cover Every aspect of the markets To offer you the very latest in market news Plus, new subscribers Get to test drive our newsletters Wrist free for 30 days From all aspects of the markets Including stocks, bonds, metals Commodities and tech There's a newsletter to fit your needs Exclusively from TFNN Stay informed Each day you trade and get the competitive edge That will help you stay ahead of the game Visit our newsletters page By going to TFNN.com And click the newsletters button Near the top of the page TFNN.com Educating investors Biotech is booming But for how long? Whether you think the biotech bull has room to run Or has run its course Trade L-A-B-U Or L-A-B-D Directions daily S&P Biotech Three times, bull and bear ETFs Visit DirectionInvestments.com Slash Biotech Today An investor should consider the investment objectives, risks, charges And expenses of the direction shares carefully Before investing The funds and summary perspectives contain this And other information about direction shares To obtain a prospectus or summary prospectus Please contact Direction Shares at 866-476-7523 The prospectus or summary prospectus Should be read carefully before investing An investment in the funds is subject to risk Including the possible loss of principal The funds are designed to be utilized only by Sophisticated investors such as traders And active investors Distributor Foreside Fund Services, LLC Don't forget, you can listen to TFNN live on your mobile device 24 hours per day Go to TFNN.com Then hit Watch Tiger TV That's TFNN.com Then hit Watch Tiger TV For the latest market information Welcome back folks Okay, Spanky and our gang Let's go take a look at the EES Mini out here Now, we've got the June contract up on our chart Again, I don't have price because I want to be able to more easily Which is a terrible grammar out there I wanted you to be able to see more clearly The new profile that is formed out there I can't eliminate the prior ones There's probably a way I just don't know how to do it And we're not going to worry about doing it But you can see here, Jay, now I can't guarantee That this is a profile That is going to cement itself But right now it's trying to form And the new daily profile Pretty much neutral in nature Meaning the center at 2900 Is pretty much in the center because the top is 2918 and the bottom is 2881 88, but really 75 So 2881 is the number that we'll use out here Now go ahead and put price back on And the reason why this is important Is if you take a look at the bar Today's bar, what you'll notice is that Yesterday's high was pierced And yesterday's low was pierced And that sets up the potential For a key reversal session In other words, a top Now, is that important? Well, if we take a look at the EES Mini We just took a look at several charts That show topping signals Using that rose momentum indicator Pattern out there And that is in play as we speak right now So as long as the EES Mini Closes one tick in the lower direction One tick, that's all 0.25 It would confirm a It would confirm a key reversal session Now, a key reversal session is coming At an extension The extensions here, we've got an A to B Equal CD to the upside, nearly hit Not exactly, but 0.29 We've got wave number 7 That's letter G, we've got price moving higher Doing less relative energy, so you've got 3 Take out 3 Potential topping signals With the potential of a Topping candle today I won't know till the day's end You won't know till the day's end out there So you've got to wait Now, what we can also see is On this chart here, it's not going to pick up What we've looked at 2,900 happens to be It's the old profile, it's the old top of the box In essence, that's what's been tested How are we going to know if there's been a change in trend? Similar to like our discussion Here when we take a look at the IYR The real estate sector We really don't know if there's a change in trend I mean, you can look at the CES Mini You can see that the bottom of every profile Has held, even though it's been tested It was tested, for example, in March March 8, 2019 Of course, 2019 March 25, March 27 March 28 Each time People might have been thinking This is great, the bears are finally in charge No Bears can't be in charge Until they actually break through support Think of it like a football game Offense and defense Right now, the offense Is still in place here Until they create the fumble There's a close below Right now, 2881 Would be the number And so that's a kind of a beautiful thing Because otherwise we would have had to have waited From a daily profile If this profile formed since 2860-13 To know whether or not That is in fact the case out there So, Jay, Peter I hope that helps you out We'll have to come back and take a look at this Manana to see if in fact This is a profile that in fact Holds up and forms today No new profiles In the other contracts out here We've got the Dow Equity Futures contract That continues to run into resistance At the top of its box Which is 26509 Doesn't mean it's bearish And if we look at the Dow Equity Futures contract Out here We don't have a key reversal session We just actually have an inside day And neither the high or low was tested yesterday But if we did get a bearish close Today, bearish candle could easily Take place That could indicate atop Because this too price has been moving higher Doing less relative energy Only in wave number 4 To the upside out here So that's the Dow, so that has potential But in the case of the Dow versus the S-mini It's got a lot longer to go To the downside before it tests support Which is 2607 In the case of the NQ The NQ just continues to motor So it's motoring higher It's doing less relative energy But it's trading above Stevie's green line There's no reason for this Not to, at least as of 1.46 in the afternoon Not to move up to its price projection Target of say to be equal CD Which is in the 78.55 level That's the call until The market communicates Something else to you And I So in essence there are your equity futures contracts That's what Stevie sees Now with regard to the Strength or weakness in the market We can just take a quick peek in On the New York Stock Exchange We are going to see that it's faltering a tad Meaning that simply it's advanced To client oscillator reading that its panel too Reads minus 21 in change right now If you're watching this on Tiger TV It is below zero, minus 21 obviously below zero If not obvious it is now Obvious it And if we take a look at what does that mean Jelly bean This is the jelly bean time of the year out here And I will Tell you it doesn't mean anything today Unless there is follow-through tomorrow And it doesn't really mean a lot at 147 It really means more When we get to the four o'clock Bell out there But it is showing some weakness Is it major weakness? It is not major weakness Why? Because if you look at the bottom panel The screen what we can see is It's about volatility, it's 50 day Exponential moving average price It's about $1.9 Or it's $2.53 Quite a ways away from that Just as a double check out there That we would just go peek in on the HYG Just to see how it is holding out Just one of those high yield Corporate bond funds It is moving lower as the HYG Generated any kind of a top That's really the question out there Because what this can do Oh no it hasn't No it hasn't, it hasn't Over, so right now I've got to go with Kind of a neutral call With regard to HYG So let's go see what Brent in Martinez, California Wanted to look at, he said Could we take a gander I like that, we'll take a gander At TGB Looks like it may be getting Above an area of resistance Has had nice volume in the last few days And you're welcome Brent out there and best to you also So Tesico Mines is TGB Out here And so Brent is certainly right Volume over the last four days I looked quickly to see if I could Find some news that was behind this I didn't see it, maybe there's some news Maybe there isn't, but you can see The volume breakout that Brent Is referring to out here And in fact from a volume breakout standpoint This would be a confirmed A to B equal CD I think the low is approximately The December 31st level February 27th, I may not have this Exact, but it's going to be close enough I think for our Move out here And this would suggest Brent 84 cents 92 cents, those are A to B Equal CD targets, we've got The confirmation, but before We leave it there, this is The daily timeframe chart And I think it would be incumbent upon you and I to look at Other charts out here such as the weekly Now in the case of the weekly You can see that this is traded up into resistance That's the top of the weekly profile 76 cents, we're trading at 77 cents right now So from a weekly standpoint And there has not been a close above the top Of a weekly profile And what seems like forever And forever takes us back into January of 2018 That's pretty close to forever From a trading standpoint I think you want to see How to say go mines closes at the end Of the week out here If it closes back below 76 cents Resistance is held And I'll tell you what, during the breakout here I'm going to pull up to say go mines I'm going to say Brent Because I know we've got something else to look at out here That's the resistance Love me, you need to see a close above Come tomorrow, if you're ready 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 Using the Chapman wave methodology Along with other indicators Basil Chapman advises his subscribers Of his expert market opinion Each market day with his opening call newsletter Right now you can get a two week free trial To the opening call Basil's daily trading newsletter By visiting the front page of TFNN.com Cancel 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 It's amazing to think that Tom O'Brien Started his weekly gold report 19 years ago with the first issue Published April 7, 2002 When gold was trading at under $300 per ounce Gold peaked at more than $1,900 In 2011 and after spending Many years consolidating at lower prices Gold may be poised for its next big run Tom O'Brien publishes his weekly Gold report every Monday morning For subscribers consisting of coverage Of the XAU, HUI, GDX, The Dollar, Bonds, South African Rand As well as 25 different Mining equities with specific Buy, sell recommendations As of April 1st of this year The gold report currently has 8 active positions With an average unrealized profit Of almost 8% for each open trade New subscribers get a 30 day Money back guarantee So you have nothing to risk For all the details and to start Your gold report subscription today Visit the front page of TFNN.com Don't let gold's next big run Pass you by, 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 gatherer ancestors Found all their nutritional requirements For health and their wild environment But today our 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, Badi and amino acids To use liquid form Primal edge is powered by highly concentrated Fulvic and humic acids Nature's preferred delivery system They've been called miracle molecules Because, like sunlight, air and water Life cannot exist without them That's right Paige, they ensure 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 Paige of living a primal lifestyle Buy it today for just $89 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 Let's finish out the show here By taking a look at the NDX100 The QQQ series The TQQQ as Earl writes in And Earl, with regard to your question Which is, hey, the Q's hit a new all time high today But the TQQQ Didn't, you know, does that mean The TQQQQQQQQQQQQQ Prices at a new high I would say the way that you need to trade The triples and so forth because of the way That they rebalance each day You just have to trade The TQQ off of Either the NQ Or the NDX100 Or the QQQ series But here's what we do know Thank you for bringing it to the light Here's what we know right now And we've talked about 100% moves of a move I mean, that can be where Unequity Simply tires out, tops out and so forth Well, in the case of the NDX100 Which is what's up on the screen right now You're going to see two numbers out here 7691 and 7700 Those are two previous swing point highs Those going back into the trading session Of August 30th And October the 1st Out here, we can see it's been tested We can see prices moving below That top Volume-wise out here Let's check in on the QQQ series ETF Let me see if I can open up the volume Metric here real quickly Before we have to get off air Here we go, so volume-wise back there In the Qs, it was 27 million shares You're at 17 And it was 29 million shares You're at 17, so it looks to me like Prices moving up with pretty decent volume Again, the NQ The best I can say is at this stage here Hey, prices moving higher Doing less relative energy Here in the back of your neck should stand up a bit It's not a signal that says You've got a jettison in your long trade If that's what you're in and I'm assuming you are The NQ could easily target 7855 out there If at the end of today We get some type of bearish reversal signal That would be a different piece Of information, we just have to wait What's the information at 156 in the afternoon? Yep, you've made 100% move-a-move Gotta be careful Wait to see if there's a bearish reversal signal If not, volume-wise Looks like it's pushing higher with volume Hey, folks, thanks so much for being here Stay tuned! David White is up next Your favorite polar bear I'll be back with you tomorrow Have a terrific Wednesday