 The following is a presentation of TFNN. The Trader's Edge with Steve Rhodes. Call now toll free at 1-877-927-6648 or internationally at 727-873-7618. The Trader's Edge. Now Steve Rhodes. Good afternoon and welcome to the December 4th, the wonderful Wednesday edition of today's Trader's Edge show. 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. Well, everyone out there is having a great day. Right now, we've got the markets. They're having a great day. They've got everything in the green. They've got the Dow's up 191 points. The S&P's up 21. NASDAQ's up 46. Russell's up 14. Semis are up 1.5% or 24 points. So what you and I are going to do is try to figure out what's yesterday at bottom. Is this a counter trend rally? And we'll spend time doing that. Of course, what I'd love to do during this next 60 minutes is hear from you because this show is really all about you. So give us a call at 877-927-6648. We'll go ahead and take a look at your instrument, whatever it might be for whatever time frame. Try to figure out what buyers and sellers are doing. If you can't call in, well, we've got you covered there. You can just send me an email, steve at tfn.com. Inside the subject heading, please put radio show question. Of course, in our Tigers, then, well, any ping we'll 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 LUS Show. Lead in the charge to the upside dollar-wise. It's Google, 25 bucks. You've got Shopify up 22. Kodiak signs his up 11. That's 24% to the downside workday. I'm sorry, 5%, $8 in change. Arrowhead pharmaceuticals up 8% or 555. Instructure, Inc. of 380 or 7%. So there's certainly things to look at, but I want to look at what you want to look at. And the first question I came in was from Larry. And Larry is asking the question, and he's noticing that from time to time, profile levels are different. And so he's just asking me to try to explain how to use that. And I understand Larry's frustration. Certainly I do because I'm a very structured individual. Most folks that are subscribers in my newsletter, they most certainly would know that. And I think it's just part of the Virgo trance, so to speak. We just like things just a certain way. And when they're not a certain way, we start to pull our hair out. That's why I have the receding forehead. You can't see it right now, but you've seen it. It's receding out there. Let's just try to stay on track here. Now, the issue is we use the tools that we have available to us. And one of the tools that we use are these task market profiles. And they help us to identify levels of support or resistance. Without them, you and I wouldn't know. So it's better to trade with them, even if from time to time, Larry, they're confusing. Now, when we take a look at the equity futures contract, because your specific question was about the ES mini. And these profiles, the cool thing about them is I've got a tool that will allow me to use these profiles for different multiple time frames. The problem is we have four quarterly contracts inside the equity futures out there. And what that means is that if I want to understand the longer term information, weekly, monthly, quarterly, that's what we have on our chart out here. We've got weekly and upper left. We've got monthly and the lower left. I apologize. Weekly is in the upper right. I'll learn my right from left. Just give me a little bit of time out there. Still in elementary school. In the lower right is the quarterly. Now, so here I've got my order for me to do that, Larry. I can either use a continuous contract. So that's one way to do it. Or I can use my synthetic version, which does a better job of stitching and etching the contracts together. So for example, if I were to just use the December contract, we're still in the December contract. Well, I'll show you. Here's what the December, so here's my synthetic version. Here is the December contract. And you will see in the bottom left, what's got monthly and the bottom right, that's got the quarterly. There's no way that there's enough data to be able to provide us with profile information. On the weekly basis, there is. But when the contract rolls over, which is going to do in about seven, eight days, seven, eight, nine days, and recall the exact how many days, but right around there, then you're getting all new fresh information. So what do you do about the past? Well, what we do about the past is we go ahead and we use Stevie's synthetic version, which always has the data. And these profiles are reliable, even if they're different. What do you mean different? Well, if we take a look at this, this is what Larry was specifically asking about, because on the weekly timeframe out here, and there's really three, I'll show you a third one. The lower, the lower left, the left-hand panel is the December contract. You'll see the top of that profile is 3032. Yet if you look at the right-hand panel, that's my synthetic contract. You'll see prices trade at 31, 14 on both of the weekly, on the ES mini, whether I use the ES mini or use my synthetic contract out here, but you'll see the profile levels are different. 29, 50, 32. The question is how do you use them? Use them both. You use whatever information that you have. I wish that they would agree with each other. And then we've got Stevie's Super Doppler tool, which from time to time is going to pick up advanced indications of new profiles that are trying to form. They haven't cemented themselves. It's a weekly. We won't know that until Sunday night, Monday morning. But if you look at the left-hand panel out here, you're going to see that we have a brand-new weekly profile. It looks like it's a brand-new weekly profile. You've got one inside the ES mini. You've got one inside the Dow out here. We're in the process, as I mentioned, about rolling the contracts out here. And here, this has got 31, 37. If you're asking me, Larry, which one will I use, we'll use this one right here that we're taking a look at. We've got the new daily and we've got the weekly profile. Speaking of which, we've got price that is running resistance. Resistance here is at the center of both the daily and the weekly level out there. And that's at the 31, 17 area. So those two things match. And if price is able to close above that, we would say that price would move out to about the 31, 37 level. So, Larry, I wish that we could get all the profiles to line up. It's just the way that the quarterly contracts are for the futures. Sometimes it's monthly out there. But especially with the equity futures out there, I want to use more data. And by more data, I even want to know what's going on on a quarterly basis. And right now we know that the ES mini is above the quarterly profile, 2891. That is a super Uber bullish out there. Speaking of Uber bullish, I don't know if it's Uber bullish or not. But let's go out to Martinez, California and speak with Brent. Brent, thanks for calling. Thanks for holding. And how are you this morning? Steve, I just came out of the dentist not too long ago unscathed, which is always good. That is a good thing. I will be in the dentist chair tomorrow morning, hoping for the same result. Not my favorite place to be, but always happen to be done with it and not have any issues. No doubt. Absolutely. Absolutely. So, Dede, is that the DuPont? Is that what you want to take a look at? That is the one I have a question about today and my particular question is, it looks like it's been in this consolidation for going back to August or so from around, you know, 73 to 63 and we're now down towards that lower end of that range. And just what you saw with it is that something you think is tradeable, that $10 range where it's at now, I just wanted to get your opinion on it. Sure. So, the weekly chart, first, I'm just going to pull over the weekly chart. The weekly chart shows some potential promise in the fact that price has been stretching. Each time price gets down into this area, the price is stretching, doing it with less relative energy out there. So, there is some potential. Would the weekly chart right now is the way that you and I look at it, get us into a trade? The answer is no. But we're going to go to a hard break. Brent, when we come back, we'll take a look at the daily. We'll take a look at the monthly right now. DuPont is trading below all three profile levels, the bottom of all three profile levels, daily, weekly, and monthly. That's never good, but we're still going to search and see if we can find a bottom for Brent in Martinez, California. Steve Roach with TFNN. We'll be right back. We'll be right back. We'll 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 task profile scanner under the Services tab. Sign up today. 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. 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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. Folks, that does up 177 S&Ps up 19. We're on the line with Brent in Martinez, California and we're taking a look at Dupont Tiger symbol DD out here. So Brent, during the break I see what you are likely looking at. Now this is just a guess, but if we take a look at Dupont the first time price moved down into these levels. It's trading right now at about 63 bucks out here, 63 and change, price moved down to that level. As far back on the left-hand side of my chart is April, I'm sorry, May 15, 2019, 7.3 million shares as price moved down there. Then price moves down there and gets tested and rejected on August 28. What do I mean by tested and rejected? Price actually got below the low, which was 63.62 and did it with less volume, 6.3 million shares. So Brent, that's certainly qualified and that was odd. Sometimes this just simply happens. What happens happens. October 10 was another test of that level, because as you mentioned, you can clearly see the consolidation but with more volume. Nonetheless, price on the very next trading session generated a bullish reversal candle and bullsash and price just moved off of that. So where are we at? Well, yesterday's moved below 63.62 level that we could be looking at was with lighter, I was with lighter volume, 5.5 million shares. Now it's the, you know, right after the Thanksgiving holiday and snowstorms going on up there, I don't know Brent, if that has an impact or not. You know, you could say maybe you're gearing yesterday against the volume day on October 10. You know, that had 7.6 million shares but there was still a close below that so I don't know, I would say is it the volume analytics that you're taking to look at? Part of it, yeah, and just again it's been in this range and it's starting to do a little something that day I'd want to see some follow through maybe get above that level you're showing there. 63.62. Yeah, yeah, yeah. I would, I mean that in essence is the beginning of the consolidation pattern to the downside and the consolidation pattern to the upside was probably the June 4th high at 76.50. You know, it does have successive lower highs out here but and you've got resistance at the 65.35 level that would be the bottom of its daily profiles resistance, Stevie's red line as well, which is trading out at 65.09. You know, as I mentioned the weekly chart has been showing promise but right now I think it doesn't necessarily show that promise if I were to look for some type of bottoming signal longer term on the monthly timeframe what we have out here if anything, let's just do our wave count to the downside, see where that's at. Well, Brent did you know that on a monthly basis that this month of December it entered into wave number 7? That's why I call you Steve. You're the ace when it comes all that stuff. Yeah, so the monthly is a potential a little bit of promise but as we know the monthly or these wave counts can continue to extend around the monthly chart so it can continue moving lower out here. If it did move lower Brent the actual buying area would be about $50.03 on the longer term but it do have a potential bottoming signal on the monthly and the weekly and so therefore what you'd really like to see is something to come through for you on the daily timeframe and we just don't have it right now. Today's candle even though price is moving higher it's a it's a Harami candle which is not a bullish for me it's not a bullish or bearish signal out there. It's an insight. I'm just always looking you know that Steve and I just absolutely trying to see what you know I already have some trades on right now I have to do anything but I just always try to find stuff and always looking around for potential buys. I don't do a lot of trading to be honest with you I've done puts and I've done and I mainly do options on whatever I'm doing. I do own some shares of certain things that pay different ends but in general I just try that to me it's an effective way at least for me to do it where I don't have to put as much money at risk I'm leveraging more shares I just you know you have to give yourself time there's the way it has to be done that and it seems to work for me so not for everybody but it's been effective for me so that's what it's all about. That's what it's all about and if I were to come up with one word to just as the one word to describe what I believe you're describing to me is called confidence and you've got confidence in the tools and the systems that you use out there and that is really what it's all about because if you've got no confidence I think it's hard to accomplish anything you know if you're a golfer and you step up to the shot and you don't have confidence in it you're likely not going to hit a very good shot so it's no different in life it's no different in trading and investing and putting your heart and capital to to risk out there so yeah you've got it and as always I appreciate the calls or anything else that I can do for you on DuPont. I think that's it you've covered it well and just as usual just you know be patient and kind of watch it and see what it does that's what your opinion I really appreciate you going over everything you did and sure have a great day and I'm sure I'll talk to you soon sounds great tomorrow if I find something else I'll call you about it okay that sounds great thanks for calling that was Brent in Martinez California let me just check the email see if there's any emails that have come in David so we've got one here from David G David says I've been looking at JD.com on a weekly and I see a long-term A to B equals CD pattern so let's go ahead and put that in here and let's actually follow along with David let's take a look at the weekly time frame chart and so I'm going to imagine that the A to B equal CD pattern that David is referring to is the one that starts down here on a weekly base November 19th that's your A point what I would be using for my B point is April 1st and then the retracement looks like down into the week of May 27th that would create my A to B equal CD just out of curiosity as price moved above $31.63 which had $93 million shares was with volume it was with lighter volume so it doesn't mean that it can't complete the A to B equal CD pattern on a weekly basis just hasn't you know it's not like shoppers were the doors open and everybody was running in to try to get that special blue light special is that what they called that it came out of blue light special in any event you're saying that looks like this should get to $38 yeah I mean if you're doing it based upon the A to B equal CD pattern yeah but you didn't have that conviction or volume as price closed above that swing point out there on the weekly basis out there so your question is where is support now on the weekly and on the daily well prices pulling back right now into the sorry about that into the weekly level of support which will be the top of its profile and that is $31.81 your trade at $31.73 this week price got down to about the center of the box $36.66 but support is either $31.73 $36.66 or $29.51 $29.51 being the bottom of that profile is equally distributed profile meaning there's no edge on a weekly basis for buyers or sellers and so all three of those levels are certainly areas of support if we take a look at and pull over my weekly chart here you'll also see the prices sitting right on the oscillator and change line Stevie's green line so prices pretty much sitting here at support and if price closes below this level several pennies could see a move back down to $29.51 out there this Steve Roach with TFNN will 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 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 12, 6 and 3 months Timer Digest also ranks me as the number one market timer for gold as well the fact is markets can be timed and I'll teach you the exact set of tools that I use that has transformed me into one of the best at what I do sign up for Mastering Probability today by clicking on the newsletter tab on the homepage of TFNN.com and get immediate access to workshops where I take you step by step how to use an extraordinary set of tools as well as provide great market calls too sign up today 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 Lease Resistance with no obligation to pay anything David has been delivering solid recommendations for his subscribers 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back guarantee don't miss out on this incredible new piece of software get your copy of the Art of Timing the Trade Chart today by visiting TFNN.com This segment is brought to you by Think or Swim for more information just click the Think or Swim banner on the front page of TFNN.com That was up $197 S&P 21 let's go back and take a look at JD.com chart out there I further read the email as well and I know that David is starting to accumulate shares here and I just want you to be cautious with that because you did a good job of identifying a potential A to B equal CD pattern to the upside what is to make you believe I'm throwing this out there's a question that JD.com is not making an A to B equal CD to the downside so right now here's what we know we know the price is trading below support of its daily time frame I believe you had me focusing on the weekly time frame chart but what I know is that here's one of the things that I know I want you to know this as well is when I took a look at the daily time frame chart and I just simply applied our wave counts to it the actual high was made with wave number 7 that was letter G that could be a sign of a top we talked about the sign of a bottom with Brent in New Pond and price is also trading with the A to B equal CD to the downside setting up a nice skirtly buy pattern and you may be able you may wish to really accumulate shares when that pattern completes which could be 2918, could be 2809 so I say just be careful but pay attention to the daily time frame chart as well I think that will assist you let's go out to Philadelphia and speak with John John thanks for calling, thanks for holding how are you today? thanks for taking the call my pleasure as always and you want to take a look at coffee futures so tell us what you're doing and how I can help you out very specific questions Steve I've been, as you know trading this exclusively from the long side for a couple of months now my question Steve as you look at your daily and weekly chart could you show us your indicators that give some clue to provide an answer on this question is coffee futures excuse me are March coffee futures here yesterday and today over 124 are these at risk at risk or possibly making a top right here? absolutely yes the answer to your question is yes we would say that now this is a daily time frame chart and it all depends on today tomorrow the next day but if we take a look at so I'll do a couple things let me just see where this is actually at wave count wise so just give me a second to pull this up out here so my goodness so you've got you've got two topping signals John one if we come from the low that formed out here it's going to be second on October 11th that was a low we begin doing our wave count to the upside well it looks like yes it looks like we're going to confirm a wave number 7 letter G that would have been yesterday the second pattern that we have is prices moving higher doing a less relative energy now that pattern isn't a problem unless there's a bearish reversal candle as we speak right now we've got a bearish reversal candle so that that rose woman to indicator signal really began forming on November 21st and it kept on moving higher again that's what you're that's like the weatherman saying there's a chance of rain bring an umbrella out there that's what in essence this would be doing but to just trade that pattern because it's stretched you get creamed you get crushed you can't do that you've got to wait for the cavalry to identify that a top or bottom this case here at top is in and the way that we do that if you pay attention to the Japanese candlestick so you've got a bearish engulfing candle right now confirming both a bearish reversal candle and a TD9 candle with yesterday being bar number eight so the beauty of this is you've got three topping patterns out here however price hasn't broken through any levels of support and when you do get a topping pattern the first responsibility of sellers is to try to bust out support well in this case here the first level of support is going to be one nineteen ninety somewhere around there price is going to change a little bit as price moves and changes line if prices pulls back to that level then sellers have done and it holds and sellers have done their thing and price could resume to the upside whereas if price closes below Stevie's green line the one nineteen ninety ish area out here that would suggest a pullback to another level of support and that level of support would be the daily profile which would be one thirteen thirty out there so on the daily time frame chart that's what I see but you don't there now I believe or not no I didn't I often neglect I'm afraid to admit to label all my daily charts with the chairman wave count so thank you for showing that's very helpful yeah we're giving you credit for it no matter what so yeah there's there's three topping signals not an A to B equal CD pattern it does look like one that has completed that A to B equal CD pattern that I see out here would give a much higher price projection well much higher one twenty six ninety but yeah you've got three topping signals out here but I don't what I don't know is this a top of significance or just a push back to support at the one nineteen ninety four area I don't see anything that shows a top on a weekly time frame and on the monthly time frame if we pull this out this I don't have any any signs of a you know the top on it either so does that help anybody will thank you kindly and depart I will just leave one request if time permits before you close up your show and I will hang up here but Monday I called into the show and asked you specifically to look at the January WTI crude oil futures with the eye of answering the question were there any buy signals setting up and of course I shared with you then I was long interestingly enough that contract has surged back to highs just in the past two days my question if you have time is to address the topic is there anything that shows up in your work that would tend to lead you to think will likely top short term right at this fifty eight and a half level or alternatively power right through and if so what might be higher targets but if you have time that would be great if you don't I understand we're going to do it right now easier if I let something go and I put it up till later I'll forget about it but lights we crude which has been thrown me for a little bit of a loop here here's what we know coming off of the bottom in October it has attained wave number 4 sorry wave number 6 potentially 7 wave counts out there that 6 wave count was on November 22nd and the high on November 22nd is fifty eight seventy four so price gets above that it effectively is going to have wave number 7 price also broke down at fifty nine sixty that's the breakdown area that's the TD nine breakdown area and you know subscribers have heard me probably for weeks suggest that that is the price target the eventual price target at fifty nine sixty I don't see anything at this stage here that suggests that it won't get up there but if it gets up to that resistance level fifty nine sixty gets to wave number seven if it confirms you just got to be careful because you'd have a topping pattern up at a resistance area you bet you bet that that was John in Philly we get back from this breakout here we're going to go take a look at questions from Phillip Tim well we've got four so Steve is going to have to get on his A game which I'll do Steve Rhodes with TFN and we'll be right back if you're in the CD market and looking for a secure investment the Tiger First mortgage program may work for you the security for these first mortgages are building lots in the tax opportunity zone in St. Petersburg, Florida the tax act of 2018 set up tax free zones across the country where you can build it hold for ten years and pay no tax on the profits which makes 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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 4 side fund services LLC don't forget you can listen to TFNN live on your mobile device 24 hours per day go to TFNN.com and hit watch tiger tv that's TFNN.com for the latest to market information folks let's get right to it 4 questions 5 questions actually 2 that we can get out of the way at one time Phil wants to take a look at the IWM I believe that Jimmy wanted to take a look at that inside the tiger's den as well Phil says I'm looking to go short the IWM and what I believe is the B to a C countertrend rally where would you look to put on a short for the C to D decline so if we take a look at just this chart here Phil IWM so I'll look at this here specifically versus we'll go take a look at the Russell 2000 equity futures contract but price above the daily top of its profile out there that was a 1608 the top of that profile would have been a logical area resistance for the counter trend rally to have failed it hasn't price above the top of the weekly profile price is trading in between it's a monthly profiles where there is a confirmed A to B equal CD to the level out there okay so we've got that but I'm still going to go with hey where would where would be the point if you want to put it on if you've got a anchor in for it well then the only thing I can do we could do a couple things one you could take a look at retracement so okay so if we look at retracement out here from the most recent high that's on November 27 to the low of yesterday the .618 retracement is right about here 160108 it's straight at 1601 12 the .786 is 16190 so 161808 16190 those would be some areas that you could consider the other area to be taking a look at would be Stevie's green or red line it is green 16135 what that means here Phil is that you'd ideally if you got in the trade around now or 16135 or wherever it might be what you don't want to see is a close above 16135 if you do what that tells you is price is going to make a higher high from just a few days ago or likely to do that out there so the back is so to speak up against the wall and so in this time frame right around now if you've got the hankering for it then go for it now but before you do that what Stevie would want to do is look for a 30 minute time frame chart see if there's some type of confirmed top out here and while law we do see that so what we see is an A to B equal CD pattern the problem is it hasn't completed with any kind of bearish reversal candle you also see a roge momentum indicator top price was moving higher on a 30 minute basis doing less relative energy however no confirmed bearish reversal candle and price topped out it just so happens that wave number seven letter G price has just been trading sideways ever since so you've got a topping you've got topping signals you've got the bearish reversal candle and this Gartley buy pattern on 30 minute basis for the equity futures contract could easily make a run to 1623 so if you're asking me would you step into that trade right now at 1.45 in the afternoon Stevie's answer is going to be no I wouldn't do it I wouldn't do it you need to see some levels of support fail on a short term time frame especially with these topping signals now would be 1608 30 yes you would have to pay more for the trade but when you want to see support fail when you have a topping better remember we're kind of it doesn't matter what the symbol is it doesn't matter what the time frame is we use the same set of tools as we analyze those charts in here from a 30 minute standpoint you want to see some type of nice confirmed top and out of 30 minute basis that means because you've got the topping signals you want to see support fail if support doesn't fail it tells you about strength that's out there share with you and that's just the Stevie process and being able to analyze the chart so Phil thanks for writing in Jimmy I hope that helps you out as well with regard to what the markets are doing Tim writes in he wants to take a look at GD GD is General Dynamics let's take a look at GD is doing out here and let's go ahead and read Tim's question as GD hit a bottom into where is a good entry point so it may have happened yesterday happen to be a TD set up nine count I knew that right away just simply I pulled over so the instruments that we're going to look at IWM GD 5 and EXAS and so you know part of the tools that I'm developing here so I can take a look at really all the time frames for instruments like that meaning individual stocks or ETFs out there and see what their TD 9 counts are and so on the daily time frame we can see General Dynamics yesterday was at bar number nine out here I can also see if there's any road momentum indicator signals out there we can see you've got a confirmed bottom in EXAS on a daily time frame we're going to go take a look at that but let's get back here to General Dynamics what do we know about General Dynamics well let's pull over the daily time frame chart the daily time frame chart that shows the TD set up nine count now the beauty about this is that you form this nine count right below or right above the breakout level 174.92 so this has promised but we can also see that Stevie's green line had turned red yesterday what that means is that we're about to see over the course of the coming trading sessions to have a test of Stevie's oscillator and change line 181 34 is the current level if priced so you've got a bottom so this says that what buyer's responsibilities are to try to see if it can break out above resistance well the first level of resistance on this is 1869 that's been rejected today that's a bottom of its daily profile the second area is 181 34 so you've got to see or you'd like to see ultimately Tim price be able to close above those levels if we're me out here if we're me I'd wait to see what price does as it tests the oscillator and change line then you've got other areas of resistance out here 185 20 that's where price is broken down on yesterday's confirmed TD nine count and then 186 0 8 but this looks like a bottom absolutely you just don't like to see the rejection so far of a price the fact that that line turn red tells us the price oscillator is below 0 so if it tested and rejects it means a close back below that level it's not really a great scene out there that's what I see when I take a look at general dynamics on a daily basis out here I don't see anything else that shows up on the other timeframes worth that worth taking a look at so Tim I hope that helps you out and best of luck with your trade on general dynamics Eddie writes in it says can we take a look at five five because five is alive we're alive out here and we're doing the show live so if we take a look at five can you look at it we're looking at it reports earnings this afternoon so Eddie's wondering hey this five alive show anything and we said that five showed nothing when we took a look at that one tool out here and if we take a look at the daily time frame any kind of signal for you and I know it's trading below support of it's a bottom of it's daily profile straight below Stevie's red line looks like there's trading below a hammer candle that formed out here on October the fourth it's trading below the breakout area which is one 1909 out there so Eddie there's no signal to try to enter this to not that not that I can't have a there's no tell is basically what I'd like to say when I take a look at the daily time frame chart out here there's no tell to suggest that a bottom has formed inside of five alive prices trading on a weekly basis below it's a bullish structured profile out there so that's not a good scene if I look at the weekly time frame charts below Stevie's green line bar number six of a TD set up nine count looks to me like Eddie this wants to continue moving lower if there's any tell right now it's that no matter what the earnings are looks like sellers are ready to continue selling five alive I hope that helps you out we're about to go to break we come back from it we will go ahead and finish the show off by taking a look at ticker symbol EXAS EXAS EXAS is exact sciences see roads with TFN we'll be right back 1984 Basil Chapman has been using the Chapman wave methodology to advise traders of his expert market opinion well originally hand drawing charts from the late 1970s into the 1980s Basil noticed that prices under most circumstances virtually always had a certain number of likes to the upside before declining sharply later Basil found that computer software which included the standard market technical indicators enhanced the degree of accuracy and 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 it anytime during that trial and pay absolutely nothing get your two week free trial to Basil's newsletter the opening call today by visiting TFNN.com if you're a trader in the market looking for exposure to gold or gold mining equities then now is a perfect time to sign up for Tom O'Brien's gold report the summer is over gold is trading back above fifteen hundred dollars and the ten year treasury is hovering at around one point five percent Tom O'Brien has been writing his weekly gold report for almost eighteen years there's no one that knows more about how the gold market trades and how subscribers get a 30 day money back guarantee so you have nothing to lose every Monday morning Tom publishes his weekly gold report with coverage of gold silver bonds the XAU HUI GDX the dollar as well as more than 30 different mining equities as of September 3rd gold report subscribers have five active open positions with an average unrealized profit of almost 38% for each position to see for yourself the types of profitable trades that are created within the gold report sign up today by visiting tfnn.com 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 in 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 a special blend of ionic soil based vitamins minerals baddie 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 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trading week of September 30th when price closed below that it was the week that began November 4th and was 14 million shares so over the longer haul this still has a confirmed A to B equal CD pattern that could or should take price down to about $61.95 that doesn't mean there's not a countertrend rally and a countertrend rally up to the bottom of its weekly profile in the $89.84 level price is below the monthly profile as well and resistance there is $84.44 and $84.44 is resistance I had mentioned my tools show that there was a bottom at least a temporary bottom or short term bottom price was moving lower doing less relative energy a little spike on November 23rd but it just didn't have the energy on the very next day you had that nice bullish reversal candle a three river morning star as well as a bull sash candle but price has struggled to clear resistance since then and that is the top of that profile the reality is there was a big bump in candle the day of November 22nd and so real resistance out here forget the profile level although it is resistance but your real resistance out here is going to be the high from November the 20th that was a body of a candle that was engulfed and as son of a gun let me try to do it this way here what was that high for you so you could nibble but I would wait if there's a close above $8209 but just remember your risk and your reward may only be $84.44 to $89.84 it looks to me like more of a countertrend rally type bottom versus a solid bottom folks thanks much for being here stay tuned David whites up next Tom O'Brien Obi-Wan Kenobi to take you on from there I'll be back with you hopefully the dentist doesn't do too much surgery on terrific Thursday tomorrow take care