 The following is a presentation of TFNN The Traders Edge with Steve Rhodes at 1-877-927-6648 or internationally at 727-873-7618 The Traders Edge now Steve Rhodes Good morning folks welcome to the December 18th the magnificent Monday edition of today's Traders Edge show I'm your host Stevie Perseverance Rhodes who absolutely knows that each of us should always be pioneers of our future versus prisoners of our past hope everyone out there is having a great day let's make sure we have an extraordinary one now the easiest way to do that is 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 now today you and I we're going to go check on the circumstance of these markets we'll go figure out what those bulls and bears what those buyers and sellers are communicating to you and I at just past 11 o'clock in the morning I want you to know I'm absolutely grateful for your presence here but even more important than that and that's this during this next 53 minutes I'm here to serve you so feel free to pick up that phone we'd love to hear from you 877-927-6648 now if you've got a question but you can't call in we've got your back you can send me an email send that off to Steve at tfnn.com inside that subject heading please put radio show question now if you're inside our Tigers then well than any in every ping we'll do so let's go ahead and get this show started on magnificent marvelous Monday of course this is Tiger financial news network I'm Steve Rhodes welcome to the show mixed bag out there in the indices you've got the a DAO up 27 points basically flat a quarter percent for the S&P or 13 points two tenths for the Nasdaq 129 points two tenths the downside in the Russell that's four points a little over 1% for the semis 46 points there 20s up 19 gold is up a half a buck silvers down nine pennies like recruiters up to 13 natural gas up 3 cents a 30 treasure off about half a point training out printing out 123 10 now our leader today in the clubhouse dollar-wise is super micro computer of 17 bucks followed by Costco 14 bucks followed by Netflix is up 13 United States Steel about $10 McKesson Corp up eight Google or play I should say Facebook is up eight bucks as well to the downside it is structure therapeutics down nearly 50% 48% 28 bucks and change black rock down 20 bucks or two and a half percent asthma holdings $16 2% Lantius holdings off 16 bucks 21% masonite international down 15 bucks about 15% move to the downside so let's begin the day where do we want to begin the day I'll tell you where we'll begin the day let's go take look at those daily equity future contracts for that we're going to go ahead and switch panels we'll go to the white version of fact what we'll do is we'll take a look at both the daily and the weekly at the same time so I'm entirely we'll have those white charts up for you on your screen here they go the upper left hand corner is the dot is the ES mini so we take a look at it this formed or confirmed a TDA wave seven top on Friday and it did that because we didn't get a higher high the high from that Thursday candle December 14th is 49 71 75 we've been up within a within one tick about that we haven't gotten there but if we do tick above 47 91 75 so 47 92 that would be the price point that we get to that'll negate that signal and then what we could have is maybe maybe Tuesday through Thursday some type of TD 9 count top form maybe that'll be the Christmas gift out there that I don't know but right now that's what you're watching now what price should do is pull back that oscillator and change line but if it negates that signal then that that that call would be off if I take a look at the daily time frame daily time frame shows what well basically shows we are in bar number seven of a TD 9 count that says you could get a TD 9 count over the course of next several weeks now we know that the markets typically top in the first week of a January this is a weekly time frame so we've got this week and then next week that would then take us into the new year so this week could be bar number 8 next we could be bar number 9 so we could be looking at that top real early in the January time frame at least that's the message from the weekly chart we look at the daily chart for the NQ the daily chart for the NQ at the moment has no topping pattern with the exception of the fact that today looks like it will become bar number 8 of a TD 9 count now it'll become bar number 8 so long as price closes above and it should be able to do that but close above 16 575 50 tomorrow is going to be the question mark because tomorrow bar number 9 must form for this pattern that means that tomorrow price would have to close above 16 777 25 so that's going to be the daily topping pattern we're not going to see much of a movement to the downside before that pattern would come into play we take a look at its weekly time frame this week will become bar number 8 that says you could see a top between this week and two weeks further out so that takes in the beginning of the year so that lines up with what we looked at on the weekly chart for the ES many the case of the Dow equity future contract today will be so this has a wave 7 pattern that looks like it well hasn't been extended yet the higher from Friday 37 784 the high today 37 766 so if we take above the 37 8 737 784 mark today that wave 7 pattern continues over you have to have a lower high just like the yes many from its Friday candle session out there and but this could also go on and form a TD 9 count top it's got a number of different things to do before it gets there but that pattern could come into play between Tuesday and Thursday of this week and the case of Russell 2000 the only path that's in play right now is an A to B equal CD pattern to the upside and that requires a bearish reversal candle to confirm its top by the way and the Dow on its weekly time frame this week should become bar number 8 of a TD 9 count pattern price still needs a tick above last week's high in order for it to be a potential topping bar number 8 out there but this is also signaling that we could see over the course of next three weeks a weekly TD 9 count top we take a look at that weekly chart for the Russell 2000 what we did see take place last week this is a bullet sign was a close above its TD 9 count breakdown area and that was at 1995 90 as long as price stays above close above that this week that will signal to you and I that we've got a change in trend it's only in bar number 5 on a weekly base or at least that was a bar that was confirmed last week out there we will take our P's and Q's from the Russell 2000 although when it is out in front and it's leading to charge along with the NASDAQ 100 that's a very bullish case out there but we're not really in that making that case at this stage here our expectation or anticipation at least at this stage of the game is one to watch these patterns on the daily time frame we should rally into the end of the year we should rally into the early part of January out there but what it should if we do get these topping patterns that do form out here well maybe that's not the case but we'll take things one step at a time but the one step at a time today for December 18th as we should see the market continue to rally now let's go take a look some of the intraday charts out here let's take a look at the NASDAQ since that's leading the charge let's take a look at its intraday charts out here I should really grab the proper screen out there that would make things much easier here's the proper screen I'm kind of curious so on a daily time frame we already covered the NQ on the daily time frame let's look at the five hour time frame chart and on a five hour time frame chart what do we have out here we do not have any kind of a top we do have price that's below that green oscillator and change line so in order for on the five hour time frame for the NQ to tell us it's in true out rally mode we need to see this trade above and close above 16 890 but no topping pattern that I see on the five hour time frame chart we do have a TD9 count pattern that four hour chart we'll take a look at that we get back from the spring Steve Rhodes with TFNM Tigers tits the season for leveling up your trading skills Basil Chapman is happy to offer all opening call subscribers a free subscriber webinar Wednesday December 20th 4pm to 5.30pm Eastern Basil Chapman will be discussing major sectors and stocks that are coming off their lows in order to prepare your portfolio for 2024. This is a free webinar for all opening call subscribers. If you are not yet a subscriber visit the front page of TFNM.com today to secure your spot for Wednesday December 20th TFNM educating investors. If you're looking for potential trading setups in the stock market then Rocket Equities and Options Report is a newsletter you should try. Tommy O'Brien delivers options and equity trades when the markets present them using a combination of fundamentals and technicals. Sign up for Rocket Equities and Options Report today with a 30 day money back guarantee so you have nothing to risk. For all the details and to start your subscription today visit the front page of TFNM.com TFNM educating investors. You might think that if you want to be successful at trading in the stock market you're going to need a crystal ball. After all it's impossible to predict the future right? Like any endeavor in life before you decide it's impossible get some advice from the experts. You might find that it's not so impossible after all. For daily market overviews that give you direction on the key indices, selective stocks and commodities subscribe to the opening call newsletter at TFNM.com. The opening call newsletter is written by Basil Chapman creator of the trading methodology known as the Chapman Wave. The Chapman Wave up-down sequence gives you an edge in identifying price turns, finding the peaks and valleys in stock prices. Get the opening call newsletter by Basil Chapman and your inbox every day. First time subscribers also get a 30 day money back guarantee. If you're not satisfied let us know and you'll get a full refund within 30 days of signing up. TFNM.com educating investors. Steve Rhodes started his trading career as a student almost 20 years ago and the student has now become the master. Steve won the prestigious timer of the year award in 2018 and barely missed that mark again in 2019. Finishing at number two for the year. An amazing accomplishment. Steve Rhodes is committed to sharing his techniques and knowledge with anyone who wants to learn and he shares his vast amount of trading knowledge every day in his mastering probability newsletter. Steve's award-winning newsletter Mastering Probability is delivered every trading day with updates throughout the afternoon. Sign up for Steve's market newsletter Mastering Probability and you'll receive access to seven of Steve's educational webinars absolutely free. At TFNM all our newsletters come with a 30 day money back guarantee so you have absolutely nothing to worry about. Visit TFNM.com and try Mastering Probability 30 days risk-free today. TFNM educating investors. This is the four hour time frame. Four hour time frame is going to or appears that it will form a TD9 count top at this will be at 2 p.m. today. It'll do that as long as price closes above this is at 2 p.m. If price is trading above 16 840 25 you'll get a TD9 count top. Now that top could form on the bar following bar number nine so that means take us into the evening session out there but you do have a TD9 count top but already has roads meant to Mindicator top that formed about 2 o'clock in the afternoon on Friday but a close above 16 887 25 and we're above that as we speak right now that would negate that signal but we're off to the new signal at TD9 count top on the forward time frame so we'll want to keep a close eye on that. On a two hour time frame right now price looks like it's going to negate a roads meant to Mindicator top that was at the high out here of 16 887 and this bar here is going to close at 12 noon so about another 50 40 minutes out there. That's on the so that's a positive on the four hour time frame chart that's bullish positive. I don't see a topping pattern on the 60 minute chart. I do see roads meant to Mindicator top on the 30 minute but price is pulled back right now it's a expand this chart out take a quick peek at it so when you get a top out there this is one of the reasons to understand the oscillator and change line because it can act oftentimes does especially if it's green and price is above it that becomes your buy the dip area that's where the buyers are at that oscillator and change line it's one of the areas where they're at in this case here price is pulled back it's tested it so even though we have a current top on a 30 minute basis it's very neutral neutral because the top push price back to really two levels of support both of those holding the second level was the top of its profile for the 30 minute time frame at 16 85850 out there and the oscillator and change line so if price closes above the high of this pattern the highest pattern was a 10 30 this morning 16 9 0 5 50 that pattern gets negated and we head on to higher price out there now could go form a T9 count top as well for the 60 minute time frame but let's cross or the 30 minute time frame let's cross one bridge at a time I don't see anything else on the interday charts out here so really I'd be paying attention I'd say here to right now to the 30 minute chart and the 240 minute chart if you are an interday trader for the NQ out there we've got a couple requests that have come in let's go ahead and get to those so I don't get behind would love more again 877-927-6648 or steve at tfn.com by email of course in the den any ping we'll do so the first request coming in this morning from Joe and Joe wanted to take a look at natural gas well actually he wants to take a UNG and natural gas but his question was easy he's trading natural gas he's trading UNG he's trading natural gas by by a UNG don't worry folks I'll eventually be able to spin it out and so if I confuse you my apology but if we take a look at this daily time frame chart so the UNG contract and you want to always go take a look at it see what's inside it now I did this on Friday I didn't do this you know just a few minutes ago but I did it on Friday we were together and it was just the February contract but at some point time here March is going to start creeping into the work so you want to pay attention to that but the question that Joe posed to me is where is the where's resistance where is the potential sell point out here and so the truth of that even though he's trading UNG the truth of that answer comes really from the equity future contract so you don't have to sell that and I'm going to give you the figure on UNG but with but I will say that it's really just a figure it's just a wild guess it's going to have some logistics to it but the reality is it's going to be the underlying instruments that are going to control when and where one should take some action out here so in the case of the daily natural gas contract we know about TD nine count bottom you and I we've spoken about that now it took place on Friday was a bullish event out there that bullish event was price was able to close above the top of its daily profile if it does that again today and right now it looks like it's got that follow-through that's a positive and that says on the daily base a change in trend now the change in trend then should take us up towards its TD nine count breakdown resistance level and that's price at 281 so the first answer to your question Joe is on the February 2024 contract if price gets up towards that 281 four level 2.814 that's going to be your first level resistance that could be the place where you would take a look at selling it but you want to see what other patterns are going on volume things that sort but again other patterns that are in play out here if I look at a 30 minute time frame chart and this is helpful to you just try to understand natural gas and in just how bullish it is or isn't is the mere fact that what we have out here is we have a TD nine count top do we have that top no we do not you see that high we do not have a TD nine count tough but we do have a version of a sell the D point you can see the stair step approach out here so we would certainly have a sell the D point pattern that formed out here to did that at 7 30 this morning and prices below the bottom that below structure profile but the real key level here to be watching Joe everybody else out there is that breakout level at 2.447 since coming off of the bottom out here and that was the bottom make sure this the that on the intraday chart yeah that's the bottom so we came off of the bottom on a 30 minute base that's two o'clock in the morning back on December 13th you had wave number seven bottom yet a rosebud diminicator bottom as well what we haven't seen is price closed below a breakout level so you want to watch that breakout level that's at the 2.447 the area as long as price remains above that things look hunky dory when we take a look at natural gas now what's that equivalent or potentially equivalent inside the UNG that's a great question I'm going to give you what I can give you but again Joe focus and pay attention right now to the February contract for natural gas that's where the answer should come from but with regard to UNG specifically and we get that chart up here on our screen or we're going to try to here we go it has a teeny nine count breakdown level as well and that's at the five dollar and sixty cent mark don't hold me to five sixty because again it's going to be based upon the instruments that are inside this I don't know when March March's contract will be added to that but when it does you want to pay attention to that as well so it's around five dollars and sixty cents but Joe as you know pay attention to the natural gas contract or contracts and that will assist you with that trade LB writes it and LB wants to take a look at URA that is a uranium ETF out there and his question is should he sell that 30 so I'd like you to study these charts for me and I'd love you to be able to help me answer that question for him but here's what we know and what we know is I'm going to start from the right and go back to the left so I'm going to start with the longer term chart sorry about that folks had to take a swig of water and a small little ice cube slip in there and then so what do you do when you get a small little ice cube that slides in there you're on the air right now and if I chew on that which I prefer to do you're going to hear me chewing on ice that's probably not really a great sound I'm thinking coming through the headsets out there so I did was I just let it melt and that's why we had that pause not that you needed all that information probably TMI out there but what am I going to do we're going to take a look at the monthly chart that's what Stevie's going to do and to help answer LB's question here's what we know the monthly chart prices up at resistance that's the top of its profile that's at 30 16 we take a look at the weekly chart where's resistance well we don't have any resistance that we could see on a weekly time frame chart unless I really open it up but what we do see on the weekly chart is that bar number eight is likely to form this week in uranium we know that on a TD9 count pattern if we get a TD9 count successful bar number 890 percent of the time we get a TD9 count now at the same time that on the weekly chart you're getting into that potential TD9 count you're moving into a swing point out here that's the week of November 12th that identified a Rosemount Dominicator top now there were 12 million shares 12.9 million shares traded then we come back from this break let's figure out what we did last week out there and what LB lead should be looking at to be right back Basil Chapman will be discussing major sectors and stocks that are coming off their lows in order to prepare your portfolio for 2024 this is a free webinar for all opening call subscribers if you 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on mobile or tablets as well so it's always at your reach to sign up today and become a part of this educational community of traders just visit the front page of TFNN.com That's the ETF I believe for Uranium and the question is this is by a listener should he sell out at the $30 mark which by the way that's what price got up to today the high so far has been $30 and 28 cents so we're trying to answer that question So we took a look at the monthly chart we knew the price was trading right up into resistance 3016 was the top of its profile resistance is resistance until it fails When we take a look at the weekly timeframe chart we had discussed the fact that we're likely going to get a bar number 8 of a TD9 count and that can be a top you still need a bar number 9 to complete so that's not until the end of next week out there What we also know is that price on a weekly basis is trading into a prior rose momentum indicator swing point top and that swing point is from the trading session of November the 12th there was 12.9 million shares that traded hands that week last week as we closed inside that swing point it was with 11.9 million shares the we also closed inside that the week of November 24th that was with 6.7 million shares so you are moving into it with volume this week it's too early to call we're 1.3 already so I don't know how that's really going to equate come the end but the question was also what's the additional upside potential when you do close inside the swing point and especially if it's with volume I would say it's similar volume at this stage here odds favor you go tag that high do you risk it you know that's at 31.60 it's trading right now it looks like a 29.58 that's a call you have to make and it's not that price can't bust through that but you're up at resistance here on the weekly you're up at resistance on the monthly chart let's look at the daily chart and the daily chart on Friday generated a rose momentum indicator top did that with regard to as a result of producing a bearish engulfing candle now if price were to close above that high and that high is the high of the bearish engulfing pattern well turns out that was the prior bar the one on up from December 14th and that high was at 29.86 if price were to close about 29.86 today Lee that would negate that signal and if it negates that signal then that's a top what we looked at on the weekly chart might give you the information you want to go ahead and continue to stay with this trade out there but you do have a top and 20 until 29.86 is that it's been tested but until it fails the daily timeframe has a top now price is above the oscillator and change line and it's above that green it's above the green oscillator and change line which is pretty right now at about the 29.52 level where 29.55 is the actual last trade that fired off but you're also above the top of its profile at 29.03 if price were to close below the top of its profile at 29.03 Lee that's where things could start to get a little dicey to the downside and at least that would then suggest a test of support the support would be in really two different areas the first where the first level would be between 27.34 and 27.58 and the second level would be at 26.15 so based upon looking at we're looking at with regard to uranium what additional information came we provide Lee well I think we can take a look at its dance moves out here and its dance steps we can see that all of the retracements all of the retracements have been and I'm going to move past the December October 4th retracement out there but all of the retracements have been two bar with one exception knee jerk reactions so in the last although Fridays was just a one bar that's a bullish signal out there now I don't know how the day is going to end out here Lee but so far you're seeing bullish moves on its pullbacks but you are dealing with resistance the reason I've elaborated on this really on this one specifically is Lee's been in this trade for a long time and so I don't know what a long time means but he did say for a long time so I believe that means for a long time out there so that's where I'm at should you sell at 30 I don't really have all the information that you have in order to make that decision but I do hope that the information I provided to you help you to make that decision so best of luck to you and thanks much for taking the time to write in our next request coming in from ABCD inside the Tigers Den and he wants to take a look at BMO so let's get the BMO charts up see what they're signaling to you and I would take a look at the daily timeframe you've got BMO trading at about 93.62 my chart show 93.33 right now I mean I got to figure out what's going on with this data feed issue here it's frustrating but I've got two sets of screens going here at least two sets of screens so I can figure that out so first what do we see here Dano what I see is a wave number seven top that's it on the daily timeframe that needs a lower high in order to confirm that pattern if we do get that confirmed pattern what price should do is pull back to a software change line that's currently printed about 89.17 now I see a gigantic a to b equal cd to the upside this c to d leg you know it's way beyond it's 1 to 2.72 maybe 1 to 1 point well let me see what it looks like on my other chart here it looks like it said about at least the two level the 1 to 2 level out there but Stevie will just simply confirm that out there for easier for me just put it on my other chart and right now we are at the on the a to b equal cd pattern we are above the 1.6 rate the 2.0 levels at 94.84 so I'd say price going to go target the 94.84 level unless we were to get a bearish reversal candle so the only top that we have two potential topping signals we have wave number seven that needs a lower high we have an a to b equal cd pattern I'd be more comfortable with that pattern identifying the top that I would on wave number seven knowing that we've got an a to b equal cd what else do we know we haven't seen the low of a prior bar close below close below the low of a prior bar since uh november the 29th out there that's strong that's very strong and that's the same case as we speak today so my thoughts are dano this looks pretty bullish when I take a look at the daily on the weekly chart it also looks bullish now it is dealing with potential resistance that's a prior swing point that prior swing point takes us to the week of july 28th there were 7.5 million shares last week you came into it you closed inside that swing point and you deal with four million shares so you are moving into that level with lighter volume so you could run into some resistance here dan being your pilot at this stage of the game I'm going to put that fast and seat belt sign on knowing that we are moving into a swing point high at 94.46 on light volume the monthly chart says geez a nice commentary stevo but I'm thinking I'm headed up to 96.57 and I would say the monthly chart why are you thinking that and the monthly chart would say because I'm in a bullish structured monthly profile and prices above that green oscillator and change line and then we should head up to the top of that profile and that's at 96.57 so dano everything here looks pretty good other than what I've provided to you 94.15 is the next TD 9 count breakdown level the daily time frame swing point takes us to the trading session of July 24th and that had volume of 872,000 shares so far this morning you're 189 200,000 shares in two hours of time so that's going to get us to about 600,000 shares so it looks like you're even moving into that swing point on the daily time frame with lighter volume so I hope that helps you out yeah that's that storm that really created havoc down here it was one heck of a weekend and then yesterday the skies opened up and it was just one of the most beautiful weather for the Miami Dolphins football game that I've experienced in a long, long, long time Steve Rhodes with TFNM we'll be right back currencies commodities and bond markets are as important as ever right now with how they're driving the volatility in equity markets across the globe which is why it's a great time to try out Teddy Kegstad's Tiger Forex report Teddy Kegstad breaks down the Forex markets every Monday using his 30 plus years of experience as a trading veteran of futures forex stocks and options Teddy releases his weekly Tiger Forex report every Monday morning with coverage of all the major currency pairs including the dollar index the Euro dollar, pound dollar dollar Swiss dollar Yen as well as many more and he also has weekly coverage of the crude oil market and the 30 year T bonds as they both influence forex markets tremendously when you sign up for the Tiger Forex report you also gain instant access to Teddy's 60 minute webinar archive he just hosted forex strategies and fundamentals what is behind the Tiger 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that we're going against where it looks like new all-time highs out here on Amazon we are above profile resistance that was at 148.29 we are above its green acid and chains on 150.25 this is what Stevie would term as a bullish breakout this would be the most bullish a chart pattern that you could find out here so I've got no topping signal whatsoever we are in wave number six that's letter F so perhaps we could get a wave seven top but as we speak right now today on December the 18th the daily time frame chart for Amazon Duncan Steve is bueno now here's where it gets a little bit tricky if you look at the weekly time frame chart it looks like on the weekly time frame chart you're going to confirm not you but it is going to confirm a TD9 count top this week now what we know is that price can form that top on the bar following bar number nine so it makes sense to me right now you're trading above its green acid and chains on you closed above the top of its weekly profile last week you're still trading above that we're trading above last week's high it's just simply bullish so it is the weekly chart is saying okay pay attention out here maybe a tie a wave seven with a TD9 count on the weekly time frame and on the monthly time frame at the end of the month you complete a TD9 count top so all of this is suggesting and your question was was there any topiness we took a look at the daily time frame chart and we said yeah not really not at least just yet it's in bullish breakout mode it's in bullish breakout mode quite frankly on the weekly chart and on the monthly time frame chart so if we pulled up stevie's market analyze that it would be shown for those three time frames out there but we would also know that we've got TD9 count patterns one that's going to complete on the monthly one that's going to confirm this week and then complete next week out there so we could easily be looking at a top Duncan as we come into the end of the year beginning of next year out there so that's what I see when I take a look at Amazon if we take a look at consecutive moves to the upside to the downside out here we'll see that all of the retracement's coming off of the bottom out here in October we've seen one two two two bar retracement's knee-jerk reaction lows and we saw one three bar low out here that took place back on November the 30th so things are very bullish out there this is only going to be day number two to the upside that says we could see the market pull back tomorrow or something like that typically it did Texas two-step out there that Amazon is dancing to so that's again that still looks pretty good to stevie and we take a look at those chart patterns now on a 30-minute basis out here on a 30-minute time frame you do have a TD9 count signal so this will be helpful to you Duncan with regard to the rest of the day and the rest of the day says if you close above that high the high of the day which is at $153.30 and you do that on a 30-minute bar price should continue to rally forward because this is a TD9 count top if you negate that signal then boom up to the upside you should go now price is trading above where's the top of that profile $151.17 it's trading above everything bread to the greenhouse so it's neutral signal right now on a 30-minute base but watch that high that's where you get the Q with regard to what Amazon is likely to continue doing throughout the day out there so if that helps you out with regard to Amazon basically in summary folks it says just be careful as we come into the end of the year out there Pat Stone writes in oops sorry don't usually give last names Pat S writes in sorry about that Pat and is asking the question about apogee and perigee we had a beautiful moon last night I hope those of you see it was the first time we actually saw the sky here for a couple of days and I'm going to get over to the black background charts out there but if you were able to see the moon boy it was beautiful a nice little crescent moon right at perigee perigee means that's when the moon during its current lunar cycle is closest to earth out there so let's go take a look at those perigee charts out there perigee and apogee charts Stevie's just got to find them the question was and is is the following if apogee or perigee happened over the weekend or on a holiday when a market is not trading what do you do and that is a great question and so what I do is I use both the close of the Friday session or if it's a holiday whatever that earlier session was and I use the open of the Sunday night session in this case here so now you're asking about individual stocks and I will just share with you I have not done any work on individual stocks to know how apogee and perigee respond all my initial work was done on the ES mini then Mr. Z inside the tiger stand he took that a step forward and started applying it to pretty much all futures contracts out there John I'll just ask you that question in case you're listening in have you done that at all in individual stocks but with regard to the futures markets out there Pat that's what I do now when I put together last evening's charts out there yeah I just have marked as we speak right now just the Sunday close the Sunday at the Sunday close the Friday close we take a look at the ES mini for the equity future contract was 47 6950 the open last night was at 47 7350 so you've used both those levels because they were close enough sort of close enough right now I've just left the Sunday I'm sorry the Friday evening close out there that's both for the ES mini which is trading above perigee so it's from a short-term standpoint that's bullish the NQ doing the same again I've chosen the close from Friday that's at 16 815 no John Z and the Tigers that also has not done it on individual equities Pat so you'd be doing work on your own there if you're using it to apply try to apply to individual equities if you do that or somebody does do that you know I'd love to know if you get any kind of results out there good, bad or indifferent but in case of a gold the level that I'm using out there is 20 3380 now in the case of gold the this is you know the the the actual open from last night came in at 2033 2033 30 and 2033 80 you know with regards so we're really right inside that range out there silver the perigee lunar phase pivot point is at 2415 with regard to lights we crude it's at 72 10 and with regard to the U.S. dollar index it's up at the 102 21 level and that that perigee lunar phase really looks like it is working at this stage of the game so Pat I hope that answers your question out there with regard to apogee and perigee and folks I tested what I did was I downloaded and download I paid for the individual that wrote the new American ephemeris pique I think is his last name out there this was many years ago to give me a digitized version of that that gave me all of the lunar aspects all the celestial aspects so that I could go out there and track so whether it was something in retrograde or you know any kind of great out there I was able to go apply and that's what I did I wrote had I didn't write the program but I paid somebody write the program for me it took every every instance that I could identify that seemed to have an impact on the markets and went ahead and applied them they couldn't find anything that was consistent the one thing I found that was consistent for reasons I have no clue about I have an idea was a apogee and perigee and it was by sort of accident because I was really working on the celestial planets and their alignment and so forth and then finally so we'll shoot I have the data while I just throw an apogee and perigee and see what happens oh behold well I'm telling you folks it's a it's a great tool Steve Rhodes with TFNM would be right back to close out the show you might think that if you want to be successful at trading in the stock market you're going to need a crystal ball after 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be discussing major sectors and stocks that are coming off their lows in order to prepare your portfolio for 2024 this is a free webinar for all opening call subscribers if you are not yet a subscriber visit the front page of TFNM.com today to secure your spot for Wednesday December 20th TFNM educating investors TFNM has just launched their new trading room the Tiger's Den hosted at Discord TFNM has been educating traders for more than 20 years with live programming hosted by a variety of professional traders during market hours and now they are expanding their reach with the Tiger's Den available to all Tigers and Tigresses for just $1 for the year there's no cash or added costs when you join our community of traders in the Tiger's Den you can look over the shoulders of Tom O'Brien and the other TFNM hosts while they analyze charts during their live Tiger TV programs and join an interactive trading community with hundreds of members exchanging ideas interact with other Tigers and Tigresses as they share trading ideas news analysis and discuss the market action all trading day even at night and on the weekends the Tiger's Den at Discord is accessible on mobile or tablets as well so it's always at your reach to sign up today and become a part of this educational community of traders just visit the front page of TFNM.com and the show by take a look at the W-E-A-T ETF this is for rows inside the Tiger's Den out there now W-E-A-T the ETF this is really important again it's understanding what the underlying instruments are it's not the active contract which I believe is March of 2024 instead the three future contracts that make up W-E-A-T is the May 24 contract May 24, am I not down the right screen? I am thank you Al I heard that thank you thank you thank you that's my wingman out there master Alberto thank you very much now we've got those four contracts up and so May is the it represents about 35% of W-E-A-T December of 2024 represents about 35% in July of 2024 is 30% now the May contract of 2024 has got the best bottoming pattern it's got that roadsman demindicator bottom and right now price has been able to close above the top of its daily profile that's something that we weren't able to see we do for quite some time which is close above the top of a daily profile you can see that was really the case all the way since July 22nd let's take a look at a daily time frame chart so just that move alone that was on the trading day of December 4th is a real positive I think it's real positive in fact it begs a question was the low here from December 13th and I can't answer that but it does beg the question is if the low of December 13th was the C point of an A to B equal CD to the upside my inclination is it really may have been but there's resistance at 653.23 out there that's what we take away the May 2024 contract with regard to bottoming patterns on the other time frames that would be the July or December contracts I don't really have them but they are also trading above their green oscillator and change line and they are inside their profiles out there so I would stay with wheat I would stay with WEAT the roads these are the contracts that you need to the reason why I would stay with it here's your roadsman to vindicate or bottom for the continuous contract for WEAT those are big important bottoming signals folks have a terrific Monday we'll see you tomorrow