 The following is a presentation of TFNN. The Traders Edge with Steve Rhodes. Toll free at 1-877-927-6648 or internationally at 727-873-7618. The Traders Edge. Now, Steve Rhodes. Good afternoon, folks. Welcome to the October 14th. It is a magical Monday edition. I'm going to scrap the normal opening here while I'm still recuperating. But great to be back with you. Hope everyone had a great weekend out there. Certainly lots of great sports. And so that helped with the R&R. But right now we've got the, look, hey, I would love to hear from you. So just to remind you, the phone number out here is 877-927-6648. And if you can't call in, we've got you covered there. You can send me an email, Steve at TFNN.com. If you'd be so kind to put Radio Show Question in the subject heading of the email, that'd be great. And of course, in the Tiger's Den, any ping will do out here. So good to be back with you. I don't know if we missed a whole lot. Really, in one week's time, markets are relatively near approximately where we were trading last Tuesday, give or take. So right now we've got the Dow trading up 23 points. S&P is off a buck. NASDAQ's up six. So we've got a mixed bag out here. Spot volatility index is trading lower. So that's trading down 75 cents, nearly 5% to the downside. Gold's up 8 bucks, silver 15 pennies. Lead the charge to the upside. Dow wise, it's Shopify. It's $13 or 4%. Tesla's up 9 and change. Nearly 4% as well. NetEase up 9. Regenerent pharmaceuticals up 8 to the downside. IPG photonics off 10 bucks. Cost of their group CSGP. About 2% or 10 bucks. Chipotle off 6. Nob knows pizza down 6. So we can take a look at a number of things out here. Of course, I want to be able to look at what you want to look at. The first request coming from Ruby in the Tiger's Den. She wants to take a look at the oil. So let's go take a look at oil. Do it a couple of different ways out here. So I say a couple of different ways. Let's just first take a look where Lightsweed Crude is trading in relationship to its TAS market profile. So here will be just the daily time frame out. I don't know if here is a short term time frame that you want. If so, let me know. We can take a look at that. But let's take a look at the bigger picture at the moment. So we can see that Lightsweed Crude is trading with inside a bullish structured profile. Daily profile out here. The bottom or support would be 51 58. The center of the box, that's where both buyers and sellers are much closer in proximity to the bottom versus the top, which is 56 84. And that center is at 52 75. Basically the low of the day 52 77 out there. So price was able to touch the area where buyers and sellers are. And so this is trading with inside that range, the range of the daily profile. Now for all intents and purposes, it looks like what Lightsweed Crude wants to do is trade up to the top of that profile 56 84. As long as price stays above the center level of that box, 52 75, because it's bullish in structure, should be able to push price up to the top of that box out there. If we take a look at Stevie's other charts out here, this way our white background charts, we can take a look at breakout levels. We can take a look at Stevie's red line. And so this shows us the prices trading in between support and resistance. These levels are 51 59 and 59 39. 59 39 is where Lightsweed Crude most recently broke down. Prices trading. Stevie's trading at or near Stevie's red line. The red line is actually 53 71. We're at 53 51 out there. But when we put the two together out here, Ruby Lightsweed Crude looks bullish to me based upon the bottom that it made. So the bottom that made was a TD set up nine count. It was testing breakout support that level was retested. And then we take a look at what profiles are doing their testing level of support, the center level of that box. If I look at a 30 minute timeframe chart out here, let's take a look at it. The 30 minute timeframe chart gets down to wave number seven. That's letter G on my screen out here. We know that markets like to make tops or bottoms. When they make those seven thinning stretch moves, those wave number seven letters that are on my screen out here. And so the 30 minute does shows you that. So it shows you a nice bottom. At this stage here on the 30 minute timeframe, price needs to overcome 53 58. That's the top of its 30 minute profile, the current 30 minute profile. And if price gets above that, it just really signals what you and I were looking at on the daily timeframe out there. So I hope that that helps you out with regard to what we all see when we take a look at the charts of light sweet crude. So thanks so much for asking. Let's go take a look at the markets, try to get a feel for what are the markets doing out here. You're welcome. And by markets right now, I'm just going to focus on the ES mini out here. We take a look. So the S&P 500 in essence, we're just trading in between a consolidation range. The S&P, you didn't need me to come back and tell you that it's trading within a range, but it is trading within a range. What I'll share with you is what that range is. And that range, it was earlier this morning, was 2951 75. Now, because we had nine consecutive closes on a 30-minute basis to the upside, those closes each being above the close of the close four bars earlier gives us a new breakout level. That's 2959 75. So price right now trading in between support, 2959 75 and resistance, which is 2979 25. There's nothing on the chart here that will tell me or you which side will win in this little bit of a tug of war out here. But prices up at, it's trading in between some support and resistance. Now, if we take a look at the NQ right now, and when I say take a look at the NQ, just a 30-minute timeframe. The 30-minute timeframe here shows that it too made a TD set up nine count, topped, pulled back a bit. I would have to break through support so that TD set up nine count to the upside very nicely, very nice for you and I, because from a short-term trading system, which or message, because if you're going to see some type of change in trend, you'll see that change in trend on the shorter-term timeframes before you will on the daily timeframe. So this helps us to understand, hey, where did price most recently break out and break down? Well, now we've got a new breakout level inside the NQ, 7823 50. The old one was way below at 7611. So it's nice to have this one in check that we can look at. We can see that that TD set up nine count on a 30-minute basis, stopped right before resistance. The message there would be bearish. I mean, that price should be able to push its way down to support 7823 50 and say to bust through support. So that's what it should do. Likewise, if you see a close above 7881 75, expect and anticipate that the NQ is going to head much higher out there. Yeah, much higher out there is the call, but we're not making that call just yet. Now, why would I say much higher? So that's a great question. I don't just choose my words lightly out here. The reason I would say it would be moving much higher is because, well, two reasons. One of those reasons out here is take a look at where prices trading relationship to its daily profile. Now there's a profile that formed last week before I went off the air and had a little bit of surgery out there. And price on Friday closed above the top of that box, which was 7844. We're trading at 7859 out here. So this would suggest headed to higher price as long as there's another close above 7844. If we take a look at the daily timeframe, we take a look at my other charts out there and see if we can pull those over. What else do we know? We know that what price did on Friday, oh, this is the ESMini. Sorry, I wanted to grab the NQ out there. Let's grab the correct instrument. Makes things a whole lot easier. So we take a look at the NQ out here, above Stevie's red line. That's really where the countertrend rally should have stopped and it didn't. So the NQ is suggesting higher prices on the daily. And all you got to do is watch that small resistance level on the 30-minute timeframe chart. Steve Rhodes with TFNN. We'll be right back. Headed by Steve Dahl, Taz understands that in today's technological world, the use of top flight software applications and technical analysis expertise is essential to successful trading in today's market. You also gain access to the webinar that Steve Dahl and Tom O'Brien just hosted, the best way to use the Taz Profile Scanner to profit. This webinar archive is available for all subscribers immediately upon signing up. 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Details on The Tiger's Den are on the front page of TFNN.com. 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. Let's go out to Sarah Soda and speak with Ray. Ray, thanks for calling. Thanks for holding. How are you today? I'm doing well. Welcome back. Thank you. Thank you. We've got time for both. Both of the instruments that you called about, one is Nordic American tankers. The Tiger symbol is N-A-T. Ray, tell me how I can be of help to you. Well, I... So, longer term, because you say you've accumulated, you've been, you know, accumulating a large position in this for a period of time, I guess what I would share with you is last month, the month of September, gave you a real nice buy signal. And that was where price, the road's momentum indicator, price was moving lower, doing less relative energy. And then what you got out here, Ray, was a nice bullish engulfing candle. So, north of September was already signaling to you from a longer term perspective, nice bottom. As you mentioned last week, big volume in this. So, that's certainly what you like to see coming off of the bottom. And what this would suggest to you over the longer haul that what price is targeting is the area where it most recently broke down from a monthly standpoint. That's the price level of $8.68 and takes you back to the April 2017 area. So, longer term, this made a nice solid bottom, has everything that you want, looks good, you know, says $8.68. Now, you threw out the TD set up nine count pattern out here. Take a look at the daily timeframe, what you're going to see from a daily perspective today is going to be bar number five out here. So, you know, a top or short term top could occur on bars eight, nine or 10, but you've got several days. In fact, the rest of this week, I guess, till, yeah, really the rest of this week, before you know if that pattern is anything to concern yourself with, there was a brand new profile that formed on a daily basis as well, Friday. And a price on Friday closed above that and you're trading above that today. So, its message is very strong out here. When I take a look at the daily on a weekly basis, you're in week five or last week was week five, now headed into week six of a TD set up nine count. So, you're weeks away from an intermediate term type signal of a top. And this suggests that price is headed to $5.67. So, let's say the scenario is that this continues moving higher that the monthly and the weekly charts more control the price action versus the daily out here. Watch for a nine count and whether or not that occurs before 5.67 or not, and I'm referring to the weekly timeframe, but I don't see a, this all looks very positive, looks very bullish, especially because of the longer term bottom pattern that it formed out there in September. Does that help you out? Appreciate that. Okay. So, we have all profiles daily, weekly, and monthly out there. The other instrument that you called about CRR, I think that's Carbo Ceramics. Yeah, Carbo Ceramics. So, tell us what you're doing here and how I can help you. Right now the stock chart doesn't look anywhere near as good as your Nordic American tankers, but tell me how I can help you out with CRR. Two months to a year and pushed up to close to $3 a share, but kind of rolled over in my position. So, if you're asking where to add to your position, I'm going to say right now. Right now. Yeah, so here would be the reasons why. So, let's first start by taking a look at its daily profiles out here. Let's look at the profiles just in general, daily, weekly, and monthly. And we can see that price is trading inside the daily and the weekly. The monthly is so scrunched up. Let's forget about the monthly chart out here, but from a daily standpoint, you've got support at $175. That's the bottom of the box. It's just formed today. You've got resistance at about between $211 and $221. Daily wise and $206 on the weekly. Now, the reason why I suggested that, okay, you're trying to add to your position. When should you buy? When's a good time to buy? I say now is because it looks like on Thursday this formed a TD set up nine count. Well, that was bar number eight. Friday was bar number nine. That confirms the TD set up nine count. You can see the bottom form on bars eight, nine or 10. At this stage here, and with this instrument specifically, the last time that you had bar eight form the low was when it formed a real significant low. And that takes you back out here to July 26. Now, price was also moving lower, doing less relative energy. So you had that nice link shot effect. You don't have that now. Nonetheless, what you have, what you're asking for is you've got a bottom signal. So if you're somebody that's looking to add to this position, then now is absolutely the time. So to guarantee that it's the solid bottom, we won't really know until we see what happens at resistance. So we can see Stevie's green line currently at 211. That's about where the center of that profile is, 221 at the top of the daily. But yeah, the signal. Now, the reason why I would also say now looks like a good time. You mentioned the weekly timeframe chart for carbo ceramics. And so what we know about carbo ceramics was that many weeks ago, a couple of months ago, as this was moving lower, this was into the July 26 time period, prices moving lower, doing less relative energy. And then the week of August 2nd, that's where you get your bullish reversal candle, your three river Morningstar pattern out here. So yes, prices pulled back out here, but I would say it's pulled back to give you the gift of your love of buying this, of adding to your position out there. You know, things change if these bottoms fail, but this would be the ideal time to add the position based upon the pattern signals that you and I have. Great. Hey, my pleasure. That's why we're here. So best of luck on those trades out there and we'll look forward to speaking to you soon again. Thank you very much. Have a great day. You bet. Ray in Sarasota. John is also in Sarasota. He's not on the line, but he did send an email about ticker symbol OR. So let's go take a look at OR, see if we can help John out. And his question is, hi, Steve, OR long. So let's take a look at it. And let's again start by taking a look at, this is Ossisco Gold Royalties out here. So here's what we know. Price is trading right into the bottom of its daily profile, which is at $9.51. We're trading at $9.51. So it's really trading into resistance, John. If we look at the weekly, it's trading below the weekly profile. And the monthly is trading back into support that right now is the top of its monthly profile, $9.03. So a key level, I would say is $9.03 from a support standpoint. In the case of OR, if we look at the daily timeframe, what's different about this is nothing. See, the patterns that you and I use, I know this probably gets boring for you because if we're just using the same tools, we just put different instruments out here. But here's what we know about ticker symbol OR. And that is that it's trying to also form a erodes momentum indicator bottom. Now, what we don't have here is the bullish reversal candle. So let's discuss that. Let's take a look at the weekly timeframe chart. Let's see if we can give John some great information about Ossisco Gold Royalties. Of course, I want to hear from you too. 877-927-6648 or Steve at TFNN.com. We'll be right back. I'm tracking my newsletter signals, which have earned me the ranking as their number one market timer in the nation for the S&P 500 for the last 12, 6, and 3 months. Timer digest also ranks me as the number one market timer 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 for 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. 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. 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Using this first-of-its-kind program, the Art of Timing the Trade Chart allows you to scan thousands of stocks for Fibonacci formation setups, including guardleafs, ABCs, butterflies, and much more. The Art of Timing the Trade Chart is designed to help you when scouring the markets for stocks just beginning to form the trading patterns that many investors spend days, weeks, or even months searching to find. And right now, we're offering licenses available at only $79 a month. We are so confident that you're going to love this new charting software that will even give you a 30-day unconditional money-back guarantee. Don't miss out on this incredible new piece of software. Get your copy of The Art of Timing the Trade Charts 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. Welcome back, folks. We're taking a look at ticker symbol OR, Osisco Gold Royalties. John and Sarasota is asking whether or not he should go along. Now, John, my preference would be if we saw some type of bullish reversal candle out here that that would give us the confirmed signal. Right now, price is traded by Stevie's red line, which is $9.36. But right in the resistance, the bottom of that profile, in order to take a long position in this, I'd have to see price close above $9.82. So, $9.82 is the center of that bullish structured profile that is out there. The reason I say that is just even if this equity, John, were to close above the bottom of the box, that would be promising, $9.51. But we also know that there's both buyers and sellers that reside at the center of that box, which is only at $9.82. And that is where any type of counter-trend move would run into resistance without this bullish reversal signal, without the Calvary signaling to you and I that, okay, it's ready to proceed forward out here. So, the call I would have, if you're long, I don't have a solid reason just yet for you to exit the trade. You know, you'd have to see, I don't have strong reasons to stay in it, but I wouldn't have you exit just yet because it's got some potential. It has some promise out here. But you really want to see a close above $9.82 to then suggest the run to $1,109. What we don't have is, we don't have the setup like we looked at inside of Nordic American tankers or carbo ceramics out here. Here we can see the nice the road momentum indicator top signal from a weekly standpoint. That was confirmed the week of August the 16th. We're in a count number for all attention purposes. Bar number seven of a TD set up nine count. So price may still head lower. And if you ask me on an intermediate term basis where is our attitude, Stevie will say 709. That's the last place that price broke out. And so on the intermediate term timeframe, you know, you've got a sell signal you're trading below support. We don't see a true bottom signal on the daily timeframe. And so Stevie says that the charts say stay away. So take a look at the resistance levels out there. The resistance level on a monthly timeframe was 1278. And we can see that price tried to run up there in the month of August, September just simply completely backed off. Excuse me, trading below Stevie's red line right now at 997. So longer term, John, the longer term charts have got plenty of damage out here and are suggesting some lower price. So I hope that helps you out with O.R. I would hold your horses. If you're looking for a long position, go ahead and join Ray in the Carbo ceramics as an example out there. So again, I hope that helps you out. More questions coming in. Hey, thanks, folks, for sending in these questions. Makes it just like, just like old times, just like seems like yesterday. Phil writes in and Phil wants to take a look at the GDX out here. So let me get that populated and we'll go on and read Phil's question. He said, tools have GDX trading between task support and resistance. That is true. Support, by the way, folks on a daily basis will be 2682. Resistance, the top of the box at 2774. This is a pause to refresh before it stages another attempt to overcome a double top out here. So the double top, let me just keep reading. He's referring to September 2016 and June 2019, okay. This is a head and shoulders top. What's your view using your full toolkit? Okay. So let's just take a look at my toolkit out here for the GDX and see what is communicating to us. So we already know price of trading in between support and resistance on a daily and a weekly timeframe, that being the profiles, the weekly profiles are 2672 up to 30 is the top of the box out there. And here, if you look at the monthly timeframe chart, you're going to see the double topping-ish type pattern that Phil was referring to, which is the top would be about the 3179 area, we take a look at the GDX out here on a daily timeframe using Stevie's other tools. We know that it made a road momentum indicator top out here. Price is trading below Stevie's red line. That's a resistance level. It's really right around the top of that profile. I say this has more of a potential for an A to B equal CD to the downside to set up a Gertley bi-pattern. That Gertley bi-pattern could not say, it doesn't form until you get below 2660 out there. We don't have any signs that that is going to happen. But the pattern that's more prevalent out here for me at the moment looks more like the A to B equal CD to the downside, which would be 2522, 2403, or maybe 2252 out there. So that's what this looks like. Of course, we know that in the case of GDX, it's all about gold. What's gold doing? If we take a look at gold, it's really got similar patterns out here. Trading between support and resistance. Support the bottom of box 1472. Resistance at 1535. But real resistance out here has been Stevie's green line. You can see how this has contained price for the last week and a half or so out here. And that's at 150870. So you've got the same type of a top out here inside of a gold. And so this tool looks like it's a A to B equal CD to the downside. But it just looks like it right now. Because what it's really doing at the moment is just trading between support and resistance. And so if we say what's it doing, the answer will be not much. Now, if we look at the weekly timeframe chart out here for the GDX fill, you've got that perfect roads momentum indicator top. And so we know I don't have the profile, the profiles out here, but we know that support at 2672 is a key level. This would say on a weekly basis, close below 2672 and prices headed lower. This says you could even anticipate price pulling back to $20 and 28 cents on a weekly basis. That's where it last broke out. All Stevie's really saying here, the charts are communicating to you and I is be mucho grande careful. Use those stops. Use some stops please. Now, longer term monthly basis out here. I don't have real top. I don't have any kind of top out here. So we're making our decisions based upon what gold is doing, based upon what the daily and the weekly timeframes are doing. If we take a look at gold, the major currencies out here, they're all really doing about the same thing which is trading. What we see out here, we take a look at this chart, we see a series of lower highs and lower lows. Let's look at it again. Let's look at the daily timeframe where we have the roads momentum indicator top just as we do on the weekly. And what do we see here inside of gold? We see lower highs and lower lows out here. So gold is in a downtrend, trading between support and resistance out here. That's all that it is doing. So Phil, that's what I see when I use my little eyes to spy upon the GDX as well as the gold contract. I hope that helps you out. Let's take a look at the next question coming in from Alex. Alex writes in, hey Steve, IWM Russell 2000. So let me get the IWM rolling out here. And let's do the IWM over here. And of course, you know, we're going to look at the futures contract. But Alex says the small caps have been the weakest in the current rally. Is this going to continue? Boy, I don't know. I don't know. I don't know. Is it going to continue to rally? Is it continue to be the weakest? I don't know the answer to that question. But let's go see what it is that we can figure out. We take a look at the IWM. So what do we know about the IWM? We know that Stevie doesn't like to use the ETFs out here to help assist us in what the intention of the next move is. And the reason I don't is I hate using a small amount of information to make a big decision. And we trade the IWM and you make your decisions on a ETF that trades six and a half hours. That's what you're doing versus looking at the futures contract. So let's go look at the future of the Russell 2000. We'll get back to this break. 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 opportunities zone in St. Petersburg, Florida. The Tax Act of 2018 set up tax-free zones across the country where you can build and hold for 10 years and pay no tax on the profits, which makes these lots valuable. The investment is anywhere from 30,000 to 75,000. The interest paid is 7% yearly paid on a monthly basis. According to bankrate.com, the best rate for a four-year CD in the country as of February 20th is 3.1%. 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That's TFNN.com then hit Watch Tiger TV for the latest market information. So we're taking a look at the Russell 2000 and trying to get a feel for what it's doing. We're going to go take a look at the futures contract in a minute out here. But what I wanted to show you was this chart here. It's a monthly chart. This way what we do is we get rid of some of the noise Alex out here. What we're going to see is that, you know, I know you refer to it as the weaker of the indices out here and I'm not going to argue otherwise. But I want to also make sure that we keep this in the proper perspective. And the proper perspective is all that this has been doing, what we'll call for a period of time is trading into consolidation. It's this little yellow rectangle that I put out here. And so we'll say that this consolidation essence began back in February of 2019. So it's just trading sideways, just trading sideways. That's all that it's doing. Not going to give us an indication that it's going to break down. Not saying that it can't break down or anything along those lines. But it's just trading in a sideways consolidation band. Now speaking of the band, let's go ahead and strike up the band out here. Let's go take a look at the daily time. I don't even know what that means folks. But if we were going to take a look at the drumbeat of the Russell 2000 and we were taking a look at where is support out here. And I just put this chart up on my screen and I were to ask you where is support for the Russell 2000. I guess I haven't done this for so long that I'm struggling to figure out there. I'm just going to expand it out. So where is support and where is resistance? Or is primary support and primary resistance when you take a look at the daily time frame chart in the Russell 2000? You're exactly right. It's at 1465-20. That is where price broke out using the TD setup nine-count system out here. And where did price pull back to? It pulled right back to support. It tested at the day of October 3rd. It tested at the day of October 10th. Those levels have held. So support has held. Price is above Stevie's red line. If we're really bearish out there, Alex, that's where price would have found resistance on Friday. You'd like to see a second day of confirmation out here. What transpired so far today is price pulled back to test Stevie's red line at 1550-150. There's a close above it today. This is suggesting that price wants to move higher, move higher to where? Well, we've got the intermediate term time frame resistance area set up by the TAS market profile. So we could say 1528-70, but more likely 1548-60, the top of that daily profile. But what you've got inside the Russell's, you've got a nice bottoming signal from its daily time frame chart out there. What do you have inside the ES mini? You have a nice bottoming signal. Well, where was the bottoming signal out here? Well, price two broke back or pulled back to its breakout level of 2875-25. Out here, it's in the process of making an A to B equal CD to the upside. The ES mini did hit the 1 to 1 A to B equal CD price pattern on Friday. Of course, longtime listeners know that Stevie would never, I would never tell you to buy or sell the 1 to 1 A to B equal CD. You must have some other type of a signal. Otherwise, it's just a pattern and it's a progressive tool, progressive. It's just simply a tool to measure and project where price might go. Not to just simply cart blanch, sell the 1 to 1 because 11.272 in the ES mini is 30, 14, 67. And I can share with you right now that is the message of the ES mini. Is that it wants higher price out there? Now I know in the face of those that only pay attention to the cash indices or the ETFs, you have a different pattern out there. What do you mean you've got a different pattern? Well, let's do this here. Let's put up the spy. Let me try to do that. I put in soy and that wasn't what I wanted to show you out there. And what people would do is they would say, hey, wait, wait a minute, Stevo. What do you mean? What do you mean? This did form an A to B equals CD. Let's go, just take a look at that. With a bearish reversal candle on Friday. And I would say you're absolutely correct. What do you mean bearish reversal candle? Well, if you look real closely, there were three candles, three Japanese candlesticks that formed on Friday. One was the shooting star. The second was a doji. And the third was a gap to the upside or a rising window. So let's take a look at each of those. Here's your A to B equals CD. You can see that the actual price projection would have been 298.93. We don't worry about it hitting the exact point out there. So there's your one to one A to B equals CD. You get a shooting star out here. So that would be your bearish reversal signal. And I'm not saying that the market can't turn lower out here, but I don't want you to just take a look at Friday's candle in the S&P 500 or the spies and say, voila, you've got a shooting star, so let's just go sell the holy heck out of it. Whatever that means, selling the holy heck out of it. Because if you're going to say that, then I'm going to come back and say, well, why are you ignoring the gap to the upside? The gap to the upside is a bullish signal. And Friday was a bullish message. Friday was a bullish message because Price had overcome Stevie's red line out here. We know that when that line changes colors, the comedian in it says, hey, Price and me, we're going to catch up to each other over the course of the next several trading sessions out here. And that line turned red on either October the 8th or it was really October the 8th when that line turned red out there. You saw on Thursday a test of that level was a test and rejection on Friday, a gap to the upside. And Price just simply stopped where resistance was. If you take a look at the spy, it's the top of the box at 298.45. In the ESMini, it was the top of its profile out there. And so we have to say, hold on a minute here. The message isn't as bearish or overly bearish as one might assume based on taking a look at a six and a half hour candle. And that's the key. A six and a half hour candle versus taking a look at the candle that was 23 hours long out here. And Friday's candle, we take a look at the futures contract. That ain't no bullish reversal candle. So I'm not saying that it can't happen out here, but the signals are suspect and just jumping on the short train out here. So Stevie says, don't do it. Don't do it. Now, if we were to get a bearish reversal candle today in the ESMini and we still could buy the contract close, that's a different story out there. But that candle, that did exist earlier in the session. It's gone right now. You can see that the open and the close, it's not the close, but where it's trading right now, are virtually the same. And so you've got another doji candle out here. So, you know, that's that. So coming back to the IWM and how do I put all this together? Again, use the futures contract. Get access to the futures contract. Sign up for the NADEX platform. You know, you can get access to it for free with I think you get a free account. Again, I don't know what their deal, what their program is right now, but gain access to the futures contract to assist you in understanding the pattern. So the patterns that I use here, if you like these patterns and their ability to help us identify tops and bottoms, wave number seven, TD set up nine count, the A to B equals CD patterns, then if you like those patterns, then use those on the futures contracts. Understand what's going on inside of the shorter-term timeframes to assist you. In the case of the Russell 2000 from a shorter-term timeframe, trade in between support and resistance, resistance at 15, 16, 70 right now and support at 14, 90, 350. Really just kind of like the ESMIN in the NQ as we look at out there, but those are your support and resistance lines. Steve Rhodes with TFNN. We'll be right back. Since 1984, Basil Chapman has been using the Chapman wave methodology to advise traders of his expert market opinion. While originally hand-drawing charts from the late 1970s into the 1980s, Basil noticed that prices under most circumstances virtually always had a certain number of legs to the upside before declining sharply. Later, Basil found that computer software, which included the standard market technical indicators, enhanced the degree of accuracy in calling price turns, as well as market trend calls. Thus was born the Chapman wave sequence. Using the Chapman wave methodology along with other indicators, Basil Chapman advises his subscribers of his expert market opinion each market day with his opening call newsletter. Right now, you can get a two-week free trial to the opening call, Basil's Daily Trading Newsletter, by visiting the front page of TFNN.com. Cancel at any time during that trial and pay absolutely nothing. A 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 $1,500, and the 10-year treasury is hovering at around 1.5%. Tom O'Brien has been writing his weekly gold report for almost 18 years. There's no one that knows more about how the gold market trades and how gold mining equities react. New subscribers get a 30-day money-back guarantee, so you have nothing to lose. 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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, Paige. They ensure we receive all the nutrition we need to be healthy and thrive. We take it every morning. Primal Edge, formulated and approved by Nico and Paige of Living a Primal Lifestyle. Buy it today for just $89. Click on the Primal Edge banner on the front page of TFNN.com. This is David White. Stay tuned because coming up next is the power trading hour right here on TFNN. Welcome back, folks. Let's use the last two minutes here to answer a question in the Tiger's Den about the Dax. Is it getting ready to break out to the upside? So let's take a look at the Dax. Now, you can see that, and this is a correct closing out here, 12, 486, 56. Remember that number, 12, 486, 56. It's going to be a little bit different. We take a look at my white background charts. The Dax chart doesn't update until later on this evening. But the more important thing is this is going to be a second day in a row with the close above its breakdown level. So the Dax, using the TD set up nine count pattern, broke down at the price point of 12, 473, 97. Today's close and Friday's close was above that. And what that suggests to me is that yes, it wants higher price. Now, in the case of the Dax, this thing moves lower into August 15th, creates the bullish reversal signal on August 16th out here. Here's a road momentum indicator bottom. Proceeds to move right up into resistance. That 12, 473 level. So now with price above that says yes, it should move higher. You can see as we look back on the left-hand side of the chart out here, but we can see there's also resistance in that bearish engulfing candle from July 25th. Up at the highs out here on July the 4th. So that really becomes the next target level when I take a look at the daily timeframe chart for the Dax. If we look at the weekly timeframe chart out here, the weekly timeframe shows what? The weekly timeframe for the Dax shows that off of the December lows out here makes wave number seven. That's letter G. That was its high. Pulls back. So we know that the pullback on the daily timeframe set up that road momentum indicator bottom out there. And now price is above Stevie's green line on the weekly. It was above the green line on the daily. That green line on the daily was resistance. That was the horizontal breakdown level out here. So all of this suggests if, in fact, price can get over the week of July 4th out there. That price point, let me get that for you. Price point is 12, 65605. Then yeah, price ought to run all the way back to the highs from May in 2018 in about the 13204 level. Folks, thanks so much for joining me today. Stay tuned. A couple of great hours left. David White coming up. Your favorite polar bear. Tom O'Brien will be here from three to four. And I'll do my best to be with you tomorrow from one to two. Have a magnificent Monday. Thank you.