 The following is a presentation of TFNN The Trader's Edge with Steve Rhodes Oh 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 30th, a terrific Tuesday. Maybe turn around Tuesday edition of today's Trader's Edge show I'm your host Stevie Perseverance Rhodes who absolutely knows that each of us should always be pioneers of our future Versus prisoners of our past. Yeah, I know it's always comfortable to be prisoners of your past Folks become pioneers of your future. Hope everyone out there is having a great day How about we have an extraordinary one and if you want to have an extraordinary day Which I think we all do just remember that life is happening for us Not to us That's right. We knew and I make that one little two by four shift It means we can find the gift in every set of circumstance that life is going to toss at us Today you and I we can 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 Well, what they're communicating to you and I just passed one o'clock in the afternoon I want you to know that i'm absolutely grateful for your presence here, but more importantly During this next hour. I'm here to serve you So feel free to pick up that phone dial on in at 877-927-6648 if you can't call in we got you covered Just send me an email. Let those fingers do the walking. It's steve at tfnn.com Inside the subject hitting please put radio show question And in our tigers then well any and every and all pings will do so let's go ahead get this show started on terrific Tuesday Of course, this is tiger Financial news network. I'm steve rhodes. Welcome to less show right now the dow off nine points That is a flat market I think it was down about 150 or more Not too long ago the s and p saw four. That's a flat market The ndx is not flat. It's down nine tenths percent the russell off a half a percent or nine points semis are up nine points The new york stock exchange of 24 the wilshers down 69 the trannies are up three the composites off 65 The spot volatility is back to about flat. It's trading at 13 17 golds up three silver up two pennies Lights we crude up 37 cents lean that charged the upside It is Shopify up nearly eight percent or 17 bucks john bean technology corp up eight nine percent That's nearly nine bucks martin marietta up eight eighty eight. That's the good luck symbol in china If you take a look at google google down 108 bucks 170 pennina which shares You're looking at zebra technology off 15 and amazon down 14 now google pulling right back to support the interesting thing about google Uh in this chart and looking at this chart here. Let me just do this a couple of things Let me so when I began my entree into technical analysis, what does that mean technical analysis? When I take a look at this blank chart right here just start with a blank chart You know what what this chart represents to me is the human emotion of of the worldwide worldwide worldwide human emotion For google at this point in time and this chart is our blueprint Now you and I are as each of us have patterns each day. I guarantee you I can't guarantee it, but most likely Your leg when you put on a pair of pants goes into A certain leg right or left each and every time you put on a pair of pants out there You've got a pattern you've got rituals and guess what the individuals who trade these markets They too it's nothing but human emotion you and I we have to be psychologists to try to understand What the traders what the human emotion of the market is and at this moment in time and the reason that I got involved with technical analysis because All the fundamental analysis never answered the question when a stop is going to drop Where is it likely headed to and back in those days a good 14 years ago Now you have to understand fundamentally I could dance around a balance sheet as good as anyone Yeah, I could read any financial statement and let you know what's going on. I was educated in that area But that alone does not tell you what buyers and sellers are going to do and if the blank hits the fan Where is it going and so that's what attracted me to tf&n So you're here in essence perhaps for a similar type reason to understand where something is likely headed to And when I began that process it was based upon Understanding volume and I do like to use volume, but it is not the be all to end all out here But if we were looking at this chart this daily time frame chart and trying to identify Where was it that price was likely headed to you and I would look at the high volume bar I would look at the high volume bar where there was some wide price spread in this case here Wide price spread ish to the upside that would have been the trading session of february 5th Now price mills may still get down to that level 1146 85 is the top 1117 is the bottom Tom would teach you. Hey steed. He'd say come on steed I taught you better than that go all the way back to the lows of december 21st Because that's where price might head to and that's in the 973 to 1024 level out there And price may indeed pull back there but over the years I've added an assortment of tools that are dependable That assist us An understanding where price might pull back to That way you and I can be These psychologists with marco we can understand the human emotion that is going on behind the traders inside of google Now the cool thing about this is as we go ahead and we turn off volume and we turn on these profiles out here You're going to see both daily and weekly today. He's got a brand new daily We're more interested in the weekly right now as price pulled right back to support That's what happens when something an individual equity and etf Is pulling back you want to understand where that support is and in the case of google Even with a hundred eight dollar move and even with large volume today by large volume 4.4 million shares so far It's going to be largest volume day. Yes, it's volume off of the top But until support is broken there ain't nothing broken I know that seems like kind of a weird sentence, but that's a fact jack 117 341 is the real keen number for google until it breaks below that Like things aren't hunky dory for those taking 108 loss But if you were thinking of exiting the trade right now, don't do it If you were thinking of jumping on the short side of the trade and you did so this morning beware Because all that price is done inside of google is pulled back to support Understanding our peas and cues really understanding support and resistance our snr's that would be like steve rhods out there Understanding me that there's it would be a trip, but understanding support and resistance is such a fundamental key And it is these sets of tools whether you want to use volume or you want to add to that And use these task market profiles and other patterns that are out there Well, you know, you decide what's going to work best for you, but this always answers the question for me So now the next question is well, what's the market doing and where is support inside the market? And that's really the key out here because the change in trend isn't going to take place until you see the backs of the bulls Broken and the only way that happens is to see price close below support We come back from this breakout here. We'll take a look at the topping signals that are out there But more importantly, we'll take a look at support Of course, I want to hear from you and we've got to call ahead seating So if I do hear from you, well, we'll change up our scheme a bit and we'll take your question first steve rhods with tf and n dow is off 12 Great 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 doll 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 tf and n dot com sign up now for only $97 a month with the 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 tf and n dot 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 tf and n shows plus see all 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 or on the front page of tf and n dot com tf and n has launched our brand new website You can still visit us at the same tf and n dot 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 tf and n dot com now and experience all the upgrades tf and n dot com educating investors Call now toll free at 1 877 927 6648 internationally at 727 873 7618 Now folks, we did get a e-mailer So we're going to go to that call ahead seating the first question here Uh, in the only question at this date, so it's not too late to get your emails in This one comes from k can you look at microsoft? So that's what we've got up on the screens right now msft is a ticker symbol And the question is and k maybe I don't completely understand this i'll do my best where it needs to close I'm assuming close today To fill the gap and so the gap that k is referring to if you look on the left hand side of the screen folks You'll see that on the trading session of april 24th That uh what microsoft did was trade up to a high of 125 85 The very next day is when it made its 52 week high or maybe all time high for that matter Uh, and uh, there was a gap to the upside and so The question I assume being remember gaps are our friends But what k is saying is say this might Pull back into that gap that would be your support level So I suppose the question is where does price need to close below? To suggest that uh microsoft might fill the gap So the first thing I would look at k if that is your question I would look at the law of april 25th That's going to be a first level of support potential support. That's at 128 83 out there Now you look do all gaps get filled to go do the studies out there sometimes? Yes, sometimes no not every single gap gets filled out there There's some gaps that are inside the dow that have never been filled will never be filled so Don't give me that But many times it do what does that mean gaps get filled all it means is prices tend to pull back to a breakout area That's all that would be going on just because you see a gap Don't start to get overly bearish on the stock instead look for some patterns that are out here now with regard to support We talked about support during that first breakout here The support is way down lower 1 20 43 that would be the top of the daily profile 1 16 50 would really be the true support area Well, I'll call level 3 support 1 16 50 the bottom of the box at top of the weekly box 111 47 The top of the monthly box 104 54 This is mean and green to the upside. Are there any topping signals another good question? And if we take a look at it the answer is no, I don't see a single topping signal And remember gaps are your friend in this case here They're the bullish friend that gap to the upside wide price spread accelerated volume Just you can see that You can see that sentence in the art of time in the trade time and time again Now if price were to pull back to to To steve's green line k that would be 127 91 I would say everything would be hunky dory up to that level if price closes below steve's green line Then maybe price is pulling back to the breakout area So I'm going to go with the number of 127 91 As we speak today at 121 in the afternoon as the level where microsoft would have to pull Would have to close below in order to say that it's going to go ahead and pull back to its breakout level So I hope that answers your question. Thanks so much for writing in No other questions as we see right now So let's go back to what we were originally going to do If I can recall what that is. Oh, I know one of the things just to get the slightly up track so Do you ever ask yourself the question? Why did price stop where it did today? At least in some of the indices or really the equity futures markets Because you know you and I like to spend our time in the futures markets because we have more information What you and I are looking at we're looking at candlesticks Right when we take a look at this you can look at bars You look at candlestick, but we're looking for information The more information you and I have the better off we can Understand the patterns that are out there So for example, if you happen to be someone that trades the s and p 500 via the spy or the spxl or spxs or sds or sos, I don't think it's sos, but you know what I mean out there And you're making your decisions Off of volume at swing points sound familiar if you're making your decisions from Other patterns that are out there The question is if you're really trading those things Why aren't you looking at the equity futures contract to really understand the patterns that are out there In other words, you got 23 hours plus worth of information versus six And a half hours out there You wouldn't do it because if you were doing that you're trading with your hands tied behind your back We don't want that to happen out here. Now in the equity futures market out here What's really interesting to me is apogee and perigee and perigee which is the most recent lunar phase that came in Week ago. I'm going to guess so we've got apogee should be coming in here pretty soon. I have to look that up I hope it hasn't taken place already. I don't think that it has but but if we take a look at perigee, do you know what perigee is? Perigee is the point in time When the earth is sorry when the moon is closest to the earth out there And apogee is when the moon is furthest from earth, you know, the easy way that I remember that You got a and p apogee and perigee and I know that I'm dyslexic. So it just gets reversed A becomes the furthest P becomes the closest It's just reversed out there Now the interesting thing about price today if you look at the dow and you look at the russell 2000 Arguably the two of the equity futures contracts that are what I'll call Maybe the weakest so to speak hard to say that in this type of market But take a look at how price pulled back to those levels And found a bottom now. What does that tell us? Look, that tells us that today the price point of 26 424 is really a key level If you see price closed below that it could be curtains when it comes to dow now It could be because you and I will go take a look at another number out there if you take a look at the russell 2000 A you'd be watching at 15 85 70 level that is held to support if you're short You're looking for price to close below that But until that happens be careful out there now What also occurred on these are 30 minute time frame charts that you and I are looking at out here Is on the es mini when it pulled back it did occur sunday 1 p.m. Thanks. I appreciate that z I knew it was close Uh out there and so I'll have to go take a look at those maybe I'll do that Maybe I don't think I'll be able to get it done during the break. But thank you for that I knew it knew it was close either way price still pulled back to that old perigee Loader phase pivot point now if we take a look at the es mini Here's what it did this morning as was pulling back in that 29 26 ish area. I don't look at the price here being exact But you've got a gartley HM gartley by pattern that formed this morning now We know that it formed because let me get my crosshair out here because right here at 12 p.m You had your bullish reversal signal remember Buyers and sellers show up that you and I Are doing nothing more than reading the human emotion of the buyers and sellers of the es mini In this case here we're taking looking more shorter term buyers and sellers to see what it is that they're signaling to you and I You had nice a to b equal cd to the downside We didn't know if that was the end of price until we could clearly see the bulls show up Which they did at 12 noon if price can clear You'll see a little blue dash line out here that blue dash line from the trading session 10 o'clock this morning And it's the high of 29 41 75 that is a key level if price gets above that It's going to continue moving higher to where you say well since that was a gartley buy pattern Here's what you and I know every gartley buy pattern has five potential outcomes We're at outcome number two the point six one eight retracement level 29 42 Price decides to move above that 29 46 and above that back to that hundred percent move of a groovin move 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 trait 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 rode's 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 and p 500 for the last 12 Six and three 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 tf&n.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 The path of least resistance is david white's daily trading newsletter And if you're looking for active trading ideas then 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 tf&n 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 tf&n.com now Tf&n is excited about our new software charting program the art of timing the trade charts In collaboration with tom o'brien and using his best-selling book the art of timing the trade your ultimate trading mastery system david white has programmed an outstanding piece of software that will complement any trader's methodology Using this first of its kind program the art of timing the trade charts allows you to scan thousands of stocks for Fibonacci formation setups including garthly's abc's butterflies and much more The art of timing the trade charts is designed to help you when scouring the markets for stocks Just beginning to form the trading patterns that many investors spend days weeks or even months searching to find And right now we're offering licenses available at only 79 dollars a month We are so confident that you're going to love this new charting software that will even give you a 30 day Unconditional money back guarantee don't miss out on this incredible new piece of software Get your copy of the art of timing the trade charts today by visiting tf&n.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 tf&n.com Folks, so let's uh, let's stay with the uh The indices out here. I think we did this yesterday but but maybe not and and it's uh It's going to be interesting because we're going to take a look at again each of the daily indices out here and you're going to see Uh, the plethora plethora of topping signals out here. Now. Here is the s and p 500 out here and we take a look at the s and p 500 you can see that yesterday looks like that that is wave number seven That's letter number g. There's an a to b equal cd pattern. I don't have that drawn in here just yet So that's a pattern that is out there and a rose moment indicator. It's hard to see it right now Because there's a diamond in the rough so to speak and we haven't had much price move. That's the indication That's the first indication of a rose momentum indicator signal now We don't have a bearish reversal candle at least not yet. This is a daily time frame chart But uh, that is a topping pattern That is present in the s and p 500 now In order for that topping pattern to confirm out here remember the back of the bulls Must be broken that will not occur until price closes below At least 28 94 53 28 85 perhaps even more likely which is the top of the quarterly profile We've got a we've got a monthly and a quarterly and the bottom of a daily all really lining up inside a small little area Um, which quarter should be support, but you get below that you close below that and then clearly support will have been broken That's for the s and p 500 if we take a look at the dow The dow itself actually formed a Rhodes momentum indicator top it did this on the trading session here k was asking about gaps earlier Well, here's a gap to the downside on april 25th that confirmed the pattern Today you've actually got a bearish reversal candle, but I know how the day is going to play out But the dow has given us a topping signal But likewise with the dow the support level that price must did I say must I didn't mean mustard I meant must close below is going to at least be the bottom of that daily profile. That's 26 3 3 2 The load today so far has been 26 398 Now look what we're not doing right now is trying to call the exact top tick However, we have to take a look at a couple charts that say there's a top in place if you're an aggressive trader Go for it. Make sure you have your stops in the appropriate place out there if we take a look at the The russell 2000 here's the russell 2000. What has it done? Well, yesterday looks like it may have been wave number seven the russell has been in a consolidation pattern Although price is really trading right on steve's green line Slightly below up what we're going to call it right on that line of the 1587 ish Mark out here. So it's showing a sign of a top. However, in the case of the russell 2000 Well, for some reason the profiles have gone away You can see the consolidation of the equity futures contract between about 1500 and 1600 give or take out there That's your 100 point consolidation Inside the russell 2000 just switch over to the june contract and and be able to share with you that price must close below that I say must must close below Uh 15 60 90 in order for there to be a change in trend Now, let's not leave out the nq out here. We'll pull over the n dx 100 Is there any kind of topping signal here that you see and the answer is c Yes What was it? It was the old tommy to mark set up nine count The top in this case here or potential top came on the day following bar number nine bar number nine represented nine consecutive closes with a close above the bar four bars earlier Hey, look, I've got a workshop if you'd like to learn the pattern you should want to learn the pattern It doesn't make any sense to not utilize these tools because they work They at least make you aware of what's going on multiple timeframes. It's a beautiful thing And then of course today, you now have a gap to the downside Falling windows what it looks like on my screen out there. Forget about the fact that it's a doji kando We're more interested in that k gap out there like with regard to microsoft only in this case here This gap was to the downside So inside the n dx 100 where does price need to close below in order to say there's a change in trend And why are we focused on a change in trend? Because until the backs of the bowls are broken out here The trend is your friend and you don't know if a pullback is going to be anything more than just a retracement To test support and in the case of the dow equity futures contract I meant the nq. We've already done the dow. Hello That price level would be 76 26 82 Now the beauty of those profiles, especially the dow and the nq is there clearly bullish in structure I mean that those levels should hold 76 26 and 26 3 32 respectively out there Those are the levels that must fail and by fail I mean a close below not the mere fact that it breaches below that But an actual close below those levels now Let's not stop there And I mentioned this during the 1 p.m. Update the indices that does not have a topping signal Is a new york stock exchange? And I know there's traders out there that They will when I see a divergence or some kind of pattern new york stock exchange They'll jump to the conclusion that all holy heck is going to break loose out here Well, if that's the case there is no holy heck breaking loose inside the new york stock exchange It does have problems those problems can be overcome with a better net advancing issues Situation which it doesn't have just yet, but still no topping Pattern inside the new york stock exchange nor is there one for the wilshire 5000 So now you've got two large I mean giganto even though there's not 5000 issues inside the wilshire 5000 And the new york stock exchange and somebody wants me to take a look at the 100 USA which we can do that part of the new york stock top 100 Companies u.s. Companies that is inside the new york stock chain We can take a look at that but here are no topping signal inside the wilshire 5000 So it's got to make me say Take a look at all the other patterns that are out in play out here. Here's a nasdaq composite Does it have a topping pattern? It does it's singing in the key of g it made that yesterday a gap to the downside Suggests that we could be so see lower prices coming at us But why doesn't the wilshire 5000 new york stock exchange? I don't know the answer to that But I've got to ask it. You've got to ask it. You don't have to ask it You should ask it if we take a look at the summites They're trading slightly higher today, but they too form two topping signals out here wave number g That's letter or wave number seven. That's letter g on my screen as well as that td set up nine count Everything is suggesting that what we really have going for the markets right now is some type of short term top Whether or not support is going to be broken that I do not know But we have a plethora Of signals that some type of top is in place here when we take a look at the transports Singing in the key of g as well as that td set up nine count pattern. That's what has made the high thus far Now let's go see if we can actually pull up the new york stock exchange So let me switch Let me switch Yeah, I should have had something else set up so I could have done it from right here But you don't see what's on my other screens out here So you don't really know what the heck i'm talking about But let me try to find the new york stock exchange USA 100 I know I've got it here. Just give me uno momento por favor While my system does its thing out here. So keep going come on a little bit faster would be helpful Not referring to you referring to my system. Okay, we're getting into the ends. Here we go So where's the nyse? Oh, man, it should be all the way up at the top What was I thinking? Well, clearly, you don't know this Well, maybe you do know this I clearly I was not thinking so now I've got to go all the way back up to the top We're going to a hard break out here Uh That's a shame Not that we're going to go to a break I can let the larnix the larnix rest here To pop it up on my screen will be the daily the weekly and the monthly nyse And here we're looking at it. No topping signal here either That is a surprise 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. 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That's tfnn.com and hit watch tiger tv for the latest market information Welcome back out folks. So what the question side of the tiger's den was if we could take a look at the uh, New york stock exchange the top 100 us Holdings within it and that's what this chart here represents and the question was can we identify any kind of resistance out here? And so on the daily time frame chart one of the things that you and I would look for Would be some bearish reversal candles out there and yesterday was a shooting star jon So I maybe overlooked this just a tad That would be considered a resistance level the high from yesterday, which was 10 7 49 but we're trading at 10 7 58 right now So prices over that resistance level and prices over steve's green line at 10 720 So on the daily time frame chart, I don't see any resistance unless I try to pull it back further on the left But instead of doing that what you and I can do is go to the weekly time frame chart So as we do that the weekly time frame chart we can see that price is trading above resistance two weeks ago There was a bearish engulfing candle Prices trading over that high So in essence that sets up saying well, we don't see any resistance really here at this stage of the game Weekly is bullish because it was above steve's Green line the oscillator and change line out there And so now I just come to the monthly and then the monthly we can clearly see the bearish engulfing candle That takes us back into the time frame of October it was october out here a blaster no surprise And then we had a bear sash candle in february of 2018 Now in the case both of these the prior candle the candle that it engulfed or the in candle that it's sashed Yes sashed believe it or not Main main means That the high of the prior session in this case here The highest high of either of these two sessions would be resistant So that's the all-time high inside of the new york stock exchange So between between the high of really would be the high of the month of september That would be the 10 9 31 level that would really be your next level of resistance out here Inside the nyse us 100 so thanks to that question sorry that I botched it Going into the break. Let me just check here. I got the dow up 15 points. No big surprise there Um and no other questions that are in So here's what we've established so far during today's show Google has done what? Google's just simply pulled back to support. It's not broken. It is not broken yet 11 73 41 is the number the majority of the cash indices In essence excluding the new york stock exchange and the wilster 5000 Each have topping signals But in this very strong market And it's strong for many reasons one of the biggest reasons is because if you're sitting across the globe You're sitting in europe You're watching things kind of Explode so to speak like in venezuela If we take of course, that's not europe, but they're just kind of using venezuela as a I don't know as a sounding board so to speak what what goes on here understand picture yourself sitting over in a country Like london where you don't know what in the sam hack those guys are going to do with regard to brexit because the politicians are not following What the people want It's as if when we go to the polls and vote for something If they don't get their way whoever that other side is It's it's like it's screaming Memes It's it's really it's insane. Well, you get that type of stuff. You know what happens uncertainty And it's the uncertainty about the country and they say I'd like to get my the big money says I want to reduce my exposure. So where do I go? I go to china. Do I go to japan? Where do I go? And all that money not all but most of that money is pouring into the us of a We see it time and time again We see it because if you're going to get your money out, there's really three Well, there's there's at least four things you could invest in by real estate I think that's been going on and some markets across the Across the us out there vancouver. Well, vancouver is not in the us But see in any event the real estate's one, but we're not sitting here talking about real estate So bonds is a great way to get your money into us dollars. Yeah, you just invest in bonds Why do we think that bonds keep getting supported? It's easier than actually just buying dollars out there Or the u.s. Stock market is another great way such as is john and the tiger's den Ask can we go take a look at the new york stock exchange top 100 country at top 100 stocks that are out there Which is clear at all resistance levels. It just shows you the underlying strength and that's really what's going on out there Now that doesn't mean we're not going to see some type of top We probably do see some type of top and we probably see some type of scary Scary push to the downside where everybody is going to think it's all over And people are going to start saying I ought to just simply go to cash and so forth And voila, that's going to be the buying opportunity Of a lifetime. Maybe not a lifetime, but one heck of a buying opportunity But let's just see how things play out and we'll just stay present right now And at present means we'll just continue to look at those patterns And we'll pay attention to levels of support because they are reliable for us And when we see the back of the bulls broken Then we'll know it's turn. It's the turn of the other side to take the ball But not until then Okay, so what are we going to go take a look at now steve? We should go take a look at I don't know. What do you want to look at? Let's go look at gold. I think most folks want to take a look at gold So what do we have going on in gold? Gold is perplexing If we take a look at gold, let's start by looking at gold priced in all the major currencies us dollars That's on the left euros. That's next to it next door to it Then you got yen and then you've got the great british pounds out here now today's Trading if you're wondering why gold's not going anywhere. Well, if you're a gold trader in pounds, you're actually selling today It's not at its sessions low at its session low, but it's pretty close If you're trading in the end, you're really not there right golden golden week going on there So they're just kind of keeping things steady eddy out here in the case of euros It's flat in the case of us dollars. It's slightly up in order for any instrument It doesn't matter whether it's gold whether it's light sweet crude whether it's bitcoin whether it's the dow Really whether it's yes and p whether it is the nasdaq whether it is the russell 2000 order for anything To really get traction to the upside it needs to be moving higher on all traders desks out there It does the instrument no good to move higher in dollars and then move lower in pounds If you're asking yourself who's buying and who's selling We get to look at the screen and we can see them right here. They're right in front of us We just have to open our eyes to it. So what is gold doing? Well, right now the gold is trying to form a bottom It's doing everything that it can to try to form a bottom. It just can't get a unanimous vote out here Now if we take a look at what gold is doing on the daily time frame out here, why may it be Why may it be forming a bottom? Boy, that's just a beautiful Set in structure out there Well, it's sort of has completed the a to b equal cd. I say sort of because not completely 1261 would have been the number out here But prices above steve's green red line green or red and that's a 12 81 20 And that's a signal that price is really trying to find the bottom We can see we had nice little bull sash out there. That was a few days ago A little bearish reversal signaling yesterday, but that's kind of washing away We'd really wash it away if there was a close above yesterday's high So there's signal that gold is trying to form a bottom out here, but has it There's no way Gold is going to form a bottom Until traders in euros traders in yen traders in pounds and traders in dollars All sing from the same hymnal And they're not right now Steve Rhodes with tf and n it's not just about us dollars folks Since 1984 basal 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 legs to the upside before declining sharply Later basal 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 basal 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 basal's daily trading newsletter by visiting the front page of tf and n dot com Cancel at any time during that trial and pay absolutely nothing Get your two week free trial to basal's newsletter the opening call today by visiting tf and n dot com It's amazing to think that tom o'brien started his weekly gold report 17 years ago with the first issue published April 7th, 2002 when gold was trading at under 300 dollars 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 xa u 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 eight 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 tf and n dot 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 Nico our 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 why we need primal edge daily nutrition It includes 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 molecules because like sunlight air and water life cannot exist without them That's right page. 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So i've been told that I confused folks out there So let me wrap up the confusion and it was from the tiger's den And just said hey gold in all of these four currencies out here showed a bottom last week and And all we've seen is really retracement of that bottom and that is absolutely correct I believe when I put this gold chart up here the daily gold chart I think that I said that it looks like gold has formed a bottom out here So the real point that I was making with regard to the currencies is that there's no way gold is going to get Any upside traction until it is moving higher in all major currencies and what I was referring to there was today I was speaking specifically about today when I made that What I made that statement out here again We have in essence pullbacks or sellers At this stage for gold that is trading in pounds that's moving lower today Where gold is moving slightly higher in terms of dollars now with regard to that As being a potential bottom we took a look at the daily time frame chart out there Um, there's other factors we need to take into consideration right now And john this was something that one of our guys in the den Threw up here, which was the hourly time frame chart for gold, which by the way has been making just simply beautiful Gorgeous patterns out there. Uh, john, I think I saw something where you went ahead and closed out a gold trade Earlier, I believe it might have been because of gold and apigee If you had been looking at the hourly time frame charts newsletter subscribers for example this morning Knew at eight o'clock that we were anticipating that gold was going to pull back and the reason was on the hourly chart Price was getting up to this little resistance line this little green lash Dashline established by the td setup nine count and it was also forming a td setup nine count and then swoosh To the downside so the hourly chart is forming great patterns. What I am uncertain of right now Is whether or not uh, gold is going to be able to take out that high by the way that high now Would need to be there would be good upside action if gold can close above 12 88 20 12 88 20. That's the next resistance. Otherwise right now. We're just kind of consolidating sideways So folks if you're a trader of gold, I'd say put up that one hour time frame chart and watch the patterns appear there In any event stay tuned your favorite polar bear my favorite polar bear He's voted the number one polar bear in Antarctica and at tf and in that's david white. He's up next I'll see you on wonderful Wednesday folks