 today. The following is a presentation of TFNN. The Trader's Edge with Steve Rhodes at 1-877-927-6648 or internationally at 727-873-7618. The Trader's Edge. Now Steve Rhodes. Good afternoon from TFNN. Welcome to the April 27th. It is the magnificent Monday edition of today's Trader's Edge show. I'm your host, Steve Perseverance Rhodes who absolutely knows that each of us should always be pioneers of our future versus prisoners of our past. Hope everyone out there is having a great day. Hey, let's make sure we have an extraordinary one. And the easiest way to do that, well it's to always remember that life is happening for us, not to us. That's right. We need to make that one little two-by-four shift. It means we can find the gift in every set of circumstances 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're going to go figure out what those bulls and bears, what those buyers and sellers are 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 much more important than that. During this next 60 minutes I'm here to serve you. So feel free to pick up that phone. You can dial on in 877-927-6648. If you can't dial in, well we've got you covered there too. Go ahead and let those fingers do the walking. That means go ahead and send me an email, Steve at TFNN.com. Inside the subject heading, please put radio show question and in our Tiger's Den, well any ping will do. So let's go ahead and get this show started on Magical Monday. Of course this is Tiger, Financial News Network. I'm Steve Rhodes. Welcome to Lush Show right now. We got all the indices in the green. You got the Dow up over 1%, 275 points. She's printed out 24,050. S&P is up 36 points. 2873 is the print there. Nasdaq 100 is struggling. We'll take a look at that only up about a half a percent right now or 52 points. The big mover to the upside today is the Russell 2000. We're going to look at that for sure. It's at 47 points, nearly 4%. Semi's are up 21 bucks. New York Stock Exchange nearly 2%. Wilshire 5,000, one and a half percent. The trainees are up two and three tenths percent and the Nasdaq can posit up a little over 1%. So it's those big movers and shakers in the NDX100 that are struggling. So we want to see where are they trading, are they trading into support, are they trading below support, above resistance, just where in the heck are they trading. You got the Spotball Atletics. It's trading lower down at 3302. It appears that it wants to continue to move lower and if that's the case then the market should continue to move sideways to higher. We'll certainly review that. Gold's off 10 bucks. Silver down to penny. Light's we crude is off 4 bucks and change. Stay away from that marketplace or at least be trading the futures. Now that USO stuff out there, if you want to trade Light's we crude then get a futures contract and make sure that you have both sides of the trade covered. You've got Natural Gas. That has had a turnaround today. 30 Year Treasury is down 1.9 seconds out there. Trade out 180, 23. The leaders to the upside is Tesla. Up 60 bucks or 8% booking holdings 40. Co-star Group 23 Equinix 20. Boston Beer up 19. To the downside, Regener Pharmaceuticals off 2.5% or 14 bucks. Amazon's down 11. No big deal there. Beyond Meat down 7. Chesapeake Energy is off about 8 bucks as well. Okay so let's begin by taking a look at just the markets in general out here. That will cover Peter. That'll cover your question I believe. We'll get to it but let's just start by taking a look at what is going on? Meaning where's price trading relationship to support and resistance and we're looking at the daily time frames out here. And so on the daily time frames for the equity futures contracts you've got the S&P or the ESMini. That is in the extreme left panel. And the top of that profile is 2846. That's resistance. That's where sellers should be lined up. If the ESMini can close above this level, that would say close above it, for two days in a row, it'd be suggesting that prices are going to move higher. Move higher to where? Well we can use our price projection tool. That will assist us. Now we need to see what today's close is before we draw any conclusion out here. But right now oh shoot that didn't exactly work as planned. Let me try to draw the A to B equal CD tool out here, Stevie's price projection tool. And so the A point is going to be that March 23rd low. The B point I believe is the high that transpired on March 31st. A two or three day retracement into the lows on April 2nd. Come on, there you go. So you can see that price hit. Let me just expand the chart and make it a little bit easier for you. So we're focused on the ESMini or the S&P 500 right now folks. You'll see it's one to one price projection was 2886.50. Then you had a dark cloud cover candle that formed out here inside the ES on the trading day of, what is this trading day? Let me a second here. It was April the 20th. Now even though price is trading above the top of its daily profile if you are short and you would not exit your short position until you saw close above resistance which is the high from April 17th. And so the number you want to be watching for is 2885. 2885. If you see a close above that, well then chances are what price wants to do is make its way up to the 1.272 C to D expansion level. So we've got A to B, our price point there 2174 to 2635. You take that mathematical difference, you multiply that times 1.272 and that level, that total combination is added to where the C point is, which here is 2424.75. That's the low from April the 2nd out there. So that's what the ESMini is doing. Whoops. Let's go take a look at what the others are doing out here. If we take a look at the NQ, she is trading right into resistance. That's the top of its profile. It is actually tested and rejected that level. The number to be watching there, 8865. We take a look at the Dow. The Dow has tested and rejected the top of its profile, 23967. So what have we just learned by just taking a look at these three before we go over and take a look at the Russell 2000? Because that may be a whole different animal out here. We'll take a look at that animal. We've learned that even though markets are up nicely, nothing has broken out. There is no breakout as we speak today. There is, let me restate that, there is no breakout as we look at the markets today in looking at the ESMini or the S&P, the NASDAQ or the NDX100 or the Dow. They're all trading below resistance. They're trading right up there. Now, the Russell 2000, a whole different animal as we speak right now. The level to be watching today is 1265.60. If price is able to close above it, well then what it may be doing, even though this had confirmed a Gartley sell pattern, you might say what's a Gartley sell pattern out here, that is where you've got the A to B equal CD. In this case here in a downtrending market, that is your colored in greenish level on this white background chart. And that gets confirmed, and it was confirmed with that dark cloud cover that it formed as well. And now if price closes over the high of that dark cloud cover candle, which also happens to be the top of its profile, then that would suggest that we would see an A to B equal CD more than the one to one level. Let's go to here. We can draw that in right here on this chart as long as we're, well, it's going to screw up my Gartley pattern, but you can see the 1 to 1.272 expansion would be 1324.55. But let me come back to the black background a little bit easier. If in fact, that's what happens, then what we might see tomorrow is the potential for a three drive to a top pattern. What are all these patterns you're talking about, Stevo, out here? Well, look, three drive to a top pattern brought to us by the one and only Larry Pesavento, and you don't force these patterns. Drive one was at the high on March 26th. The second drive higher was the trading day of April 13th. And if this is going to create a three drive to a top pattern, it should form tomorrow. It should form tomorrow. Equal 11 trading sessions in between each of these drives higher. Steve Rhodes with TFNN, we'll be right back. If you're not currently using the TAS profile scanner when looking at setting up your trading opportunities, then your arsenal is short a mighty weapon. The TAS profile scanner is a standalone piece of software that instantly filters over 2,500 global financial markets such as stocks, ETFs, commodity futures and forex headed by Steve Dahl. 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Let's pick up where we left off and I will get to the questions and if I don't get to your question I'll certainly follow up with you later on in the day or early this evening. But here take a look at the Russell 2000. So I mentioned a three-drive to a top pattern. I can't go through it in its entirety as we speak right now. Typically what we see it's a pattern that you can't really force. If you try to force it, it doesn't really exist out here. So all I'm looking at is the first drive as I mentioned comes from the high of March 26th. The second one is April 13th so that gives us our 11 trading session timeframe and this tells us that if this pattern is going to complete it should occur today tomorrow or the next day. So we'll give it one day's room on either side. Now the question is where would price need to get to? So typically what you've got out here is either A to B equal CD patterns or well we're going to look at our expansions of swing points. Now the swing point that I'd be first looking at is the high from March 26th down to the low on April the 3rd out here. And we take a look at that expansion. I'm just showing you Fibonacci expansions of swing points out here and the 1.618 is where the high came in for drive number two that was on April 13th. So now let's go take a look at a second set of swing points. Give me a second here to delete this. There we go. So let's get this tool back in place. Now this is going to give us a price projection target area. We're going to use the high of the swing point from April 13th. That was drive number two down to the low of the swing point on April 16th. You can see what the Russell 2000 has done. It's gotten close to. Now when I say close I mean it's about 20 points away. It is high. Well actually let me see this. The high today I might have misspoke there. The high today 12.82. Yeah I did. And 12.98 so another 16 points above the high of today would get to the 1.272 expansion. Oftentimes what we see out here is we see the expansion of the first set of swing points in this case here 1.618 is going to be the same type of expansion you would get on that third drive. So the price target for the three drive to a top pattern would be in the 12.98 to 13.40 level again occurring either today tomorrow or the following day. That's what I would be looking at and that then takes us to Michael's question. Mike wrote and he said hi Steve I own TZA. Can you talk about on the show. So in essence we are by talking a little taking a look at and discussing the Russell 2000. So TZA folks would be the bear position the 300% bear position of the Russell 2000. You would said that the Dow futures wanted to go to 23,900 which it did today and then began to sell off. So in this case here again what Michael is talking about he's talking about the top of the daily profile where we know that sellers are at in this case here 23,967. And that's actually the high today has been 23,988 and yes prices sold off a bit. But then the Russell took took over went up a lot and is pulling everything up. Does this change your opinion that this is not a countertrend rally? Great question Michael. And my answer is unequivocally no. This does not change my opinion that the market is just making a countertrend rally and it's really not my opinion. Just I want to be really clear out here. I am not giving you my opinion of what the market is going to do and where it's headed to. What I'm sharing with you is over 130 years worth of historical data for the Dow. And this is what I have shared this is where Michael is coming from. I don't have the time to go through that right now because I won't be able to get to the questions out here. But what I will just simply say in summary major market bottoms of the bottom that we've seen so far you can call that the coronavirus bottom. Absolutely. If that's all that transpired. If we did not shut down the the economy. If we were not foolish enough to shut down the economy. Well then we would be talking about something else. But that's not we're talking about. We know that we're going to have major unemployment. We know that GDP is nowhere in your bottoming. And we also know that the global flow of capital is not parked itself anywhere just yet. Why. And then you can go tie can take a look at Mr. Global if you will. Warren Buffett and his business partner out there. And what are their thoughts in the market. And why haven't they put money to use out here. If he's supposed to be the Oracle. Well where the heck is he. You know you're going to say. But he doesn't have to report everything. B.S. Because if he's going to use some of that 180 billion he's going to buy a company or companies out there. And there's a reason that they are waiting. Isn't there. Because they know what I know from the history of the charts and what I want you to know as well. These markets are going to go blow out the lows from March. This is a countertrend rally out here. We just have to use all of our tools to try to time time. But no nothing here Michael changes my. Changes the history. The historical patterns in the charts. So when when I say we're going back to those we're going to take those things out. This is nothing to do with my opinion. I'm narrating the charts and we have taken a look through it. Maybe if Tom's got time and I can do the segment with him today. I'll go through and we'll just re summarize that there. Versus use the time right now to to do that. So Michael it looks like now there's the Gartley patterns failed sometimes these patterns will fail at this stage of the game. The Gartley cell pattern let's pull this up here. And so the stop would have been or will be a close above the high of that dark cloud cover. Even though there's a potential for three drive top to a pattern to form folks it won't form until we see the bearish reversal candle confirming that price move out there. So we're at least a couple days away or at least one day away from that transpiring. But again watch this it may not happen you may see the Russell two thousand close back below resistance at the day's end. That's a possibility that's why you want to watch that number twelve sixty five so that's what's going on inside the markets why are these markets drifting higher well a lot of the reason is because it's courtesy of that spot volatility index. What is it doing. Remember folks that fifty day expansion moving average is really important out here it is super important if you want to use the spot volatility index as a trading tool then listen closely. It has nothing to do with what the spot volatility X is priced at right right now it's priced at thirty three twenty seven instead what you want to understand is where is it trading relationship to the fifty day exponential moving average right now the fifty days at forty two thirteen and prices below that so where is it likely headed to it's likely headed to the bottom of its Bollinger band fifty to one Bollinger band that reading is twenty eight seventy three. That's where it's headed now it because typically you'll see if you go study the pattern of spot volatility X you put up that Bollinger band you see when you get above or below that fifty day exponential moving average out there where does price drift to well if it's above it it'll drift to the upper end of that Bollinger band and if it's below the fifty day it'll drift down to the bottom and this is suggesting to us to you and me that until we get down to that twenty eight seventy three ish level that number is going to change by the way as price moves up and down out here that we may not see that next top until that occurs inside of the marketplace. We had Peter who asked about the New York Stock Exchange advanced decline oscillator and his question was is it gotten to the plus one fifty it most certainly has and then some it is right now trading out at one eighty five fifty nine now why did Peter ask about the plus one fifty level well first oftentimes if you can I don't know where this will close today you'll want to watch this but if it closes lower it closes at that plus one fifty area you look to that for a potential what I like to call plus one fifty failure that can be where a top can a form inside the New York Stock Exchange if it closes above that level well it's really good news for the longer term picture that we will eventually be back at these highs it's just when is that eventually stevo because this is just a counter trend rally folks it's just a counter trend rally and all we're trying to do you and I is just find that next top to get that next Nike swoosh to the bottom 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 Rhodes author of Mastering Probability and for the last 12 months timer digest has been tracking my newsletter signals which have earned me the ranking as their number one market timer in the nation for the s and 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 tfn.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 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new piece of software get your copy of the art of timing the trade charts today by visiting tfn.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 tfn.com yeah folks let's go out to Sarasota and speak with Ray Ray thanks for calling thanks for holding how are you doing today i'm doing well i think it might have been thursday about nat and important resistance and you said it needed to close above 567 on friday and it closed at 58 beautiful thing after hours yes are you still in it so level yes but i don't know if you see something else happening in the meantime no so you know prices above prices above resistance so old resistance levels in essence would become support out here but no the 868 i think is the number let me just switch over here to the monthly time frame where that's coming from ray is that is the breakdown level that i established or that the chart is established using the td9 count pattern and so that is on a monthly basis nordic american tankers had broken down so that becomes its price target to the upside this formed a roadmap to indicator bottom it did this back in looks like september when it created a nice little bullish engulfing candle price was moving lower doing less relative energy and there's nothing here on the monthly time frame so that's your bigger picture your portfolio position to suggest a price won't make a run for 868 that's where resistance is it doesn't mean it can't get through resistance it's just that that's where resistance is on a weekly time frame chart we don't have this this is this closed last week is as you mentioned above resistance that was 567 so the next weekly resistance area 1063 or so so that's out of the picture you're you're now dealing with the monthly area of resistance on the daily time frame the only thing that if if if were me that i'd be paying attention so you have a nice wide-ranging bar today which is a gap to the upside out here but it is making this a to b equal cd pattern and the only time to get concerned is if you were to see some type of bearish reversal candle i don't know what candle is going to form tomorrow but if it were then we'd have to start it still may not change the longer term outlook it would just at least suggest some type of pullback retracement to support and that's where you'd have to make the decision whether you wanted to ride that out for for that for that type of move but right now that's not what we're dealing with here so not necessarily a whole lot of reason for us to spend a lot of time talking about a pattern that hasn't even formed but if you were to see some type of bearish reversal candle then you and i would want to take a look at a much closer look at it yeah i just see it at the north of the bologna bands too and it's i mean it's had such a jump in the last day and uh return point i've i've closed out my trading share core position but i'm thinking about you know establish a trading position on any pullback here yeah so that one's that one's us slightly more complicated to try to figure out because there we'd be looking for levels of support and so a level of support and we'd really want to see the pattern that had unfolded but right now that level of support would be around five dollars five five thirteen somewhere in that range you know you're at six eighty eight if price starts pulling back to that level you you might be in your mind thinking what am i going to do with the longer term position right you know from a percentage standpoint that'd be you know you're talking about about almost a two dollars swing you know on a seven dollar stock that's that's 30 percent i know so yeah so i can give you that number i'll give you that number and i just did but i'm thinking if you're starting to see that the sphincter muscle is going to start asking maybe i should dump all the shares or you know take the profits on everything but that would be we're not there yet and so let's not spend really any time maybe new profiles will form or something else might happen that would give us some different data to use yep okay well for now i think i'll just hold tight on my core position and just keep a close eye on it yeah i would i don't see there's nothing there's no signals to suggest otherwise so that's what that's what i would recommend great thank you very much i appreciate your help you bet thanks so much for calling we had a individual in the den wanted to take a look at vertex pharmaceuticals vrtx what i don't know is what the what what the information is that you're looking so let me just give you the general go around on vertex pharmaceuticals right now today it has tested a rejected resistance that's where sellers are hanging out and we know it's resistance it's 27380 you and i can be specific we have a competitive advantage when you and i are trading and we're trying to understand what the chart for a time frame is communicating to you and i when we utilize these tools it gives us a competitive advantage now long ago when i owned a number of different businesses i always shared with people this which i always believe that a competitive advantage was a good thing to have that's why you really do want to understand more support and resistances like ray and i we're talking about here this is objective this is not steve coming up with these numbers out here and these tools work very good so in the case of vertex pharmaceuticals it's just just up against resistance that doesn't mean this is sell it means in the football game the tug of war game whatever game it is that you want to play the basketball game you know whatever it is we know where buyers and sellers are that's the that's the that's the competitive advantage that you and i have we're our sellers on a daily basis there are 256 69 between there and 263 53 because the center where both buyers and sellers reside is closer to the bottom of the box so we would say if this is going to pull back vertex pharmaceuticals and you are looking to get into it well the areas that you would be looking at between 256 and 263 out there now what we want to determine though price is above the weekly price above the monthly profile is there any kind of topping signal there's a topping pattern well then that could change the picture but when you and i take a look at vertex pharmaceuticals right now i don't have a topping signal for its daily time frame and if you're going to ask where support well now we can see stevie's green line and that's 267 30 so price would need to close below that because that's a support level 267 30 if it did then that would open up the door for that 256 to 263 area see how good i am with math i mean my goodness out there but no these levels these levels of support or stevie's green line are very helpful to you and i'd understand what the market is communicating to to us we go look at the weekly time frame chart we do not have any kind of bearish topping signal inside of vertex pharmaceuticals and when i take a look at the monthly time frame all we have is uh well this is going to be bar number nine of a td setup nine count and price is moving higher there's a signal of the roads meant to indicator pattern so this is if you are in vertex pharmaceuticals watch that daily time frame as we finish this month out here so we're talking about in may the old cell in may perhaps um uh because uh because of this forming a longer term td nine count pattern so something to pay attention to um let's go to uh uh let's go to uh michelle in the den she wants to take a look at uh a u y so that is yamana gold so let's go ahead and punch this up see what this is doing let's just stick with uh this uh set of charts out here and of course we're just waiting for this to uh to uh finish calculating okay so we take a look at so in the case of yamana gold it generated i better you go to my other charts out here give me a moment i was trying to avoid that this generated a cell signal um a couple of days ago when it created this little shooting star so that was on april 23rd so if you're a long yamana gold a u y you just needs to be careful here we don't have a level of support that is broken i'll get back to that but here's what we know about yamana gold on a daily basis it says this swing point if you're in the cd market and looking for a secure investment the tiger first mortgage program may work for you the security for these first mortgages are building lots in the tax opportunity zone in st petersburg florida the tax act of 2018 set up tax free zones across the country where you can build 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 seven percent yearly paid on a monthly basis according to bankrate.com the best rate for a four-year cd in the country as of february 20 is 3.1 a 50 000 investment at a 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sophisticated investors such as traders and active investors distributor four-side fund services LLC don't forget you can listen to tfnn live on your mobile device 24 hours per day go to tfnn.com then hit watch tiger tv that's tfnn.com then hit watch tiger tv for the latest market information folks so we're taking a look at your money gold before I forgot to pay attention to the to the commercial clock out there but what it did on the trading day of April 23rd it tested rejected the prior swing point high now that prior swing point was 224 volume there about 42 million shares was tested with less than 28 million shares much lighter volume test and rejection out there that could be the sign of a top so you want to be careful even if you didn't know the a to b equal cd pattern we don't even have to look at that because we have tested a swing point however we go ahead and open up this daily time frame chart again what price hasn't done it has not broken through a key level of support now the only key level of support or the key level of support that one should be paying attention to his tv's green line and that is priced at 436 you should anticipate that over the coming sessions I don't know how many sessions you should see price net green line catch up to each other and that's really what you'd be looking for a test and rejection meaning price testing it but then bouncing above it about bouncing above that level or closing above the green line that would be a bullish test and say okay I'm going to go at least make another run for those highs maybe take them out a close below Stevie's green line currently priced at 436 would say I'm going to pull back to another level of support that next level of support is the top of that daily profile out there and that's at that price point of 367 so just be careful now we also have the weekly test that was the week that began February 24th there's 162 million shares and it was tested and rejected with 119 million shares so be careful inside of Yamana gold out there Tim wrote in and Tim wanted to take a look at marathon oil MRO is the ticker symbol out here so let's go look at that for Tim and Tim is your long marathon oil and Ford looking for support and resistance so that's really pretty easy I would just be focused on for so from a support standpoint for marathon oil you're going to use the top of its daily profile that's four dollars and 43 cents out there that support for resistance we would just simply flip over to the weekly time frame chart and that's five dollars and 71 cents we'll go ahead and take over a pull over Stevie's other charts out here see if there's anything else that we can help Tim with no because my red line is down to 364 so you're going to want to watch the 443 area price gets below that well then that's telling you it's likely going to visit Stevie's red line 364 the weekly chart says be careful because all that took place out here so Tim be very very very very careful out here because all that transpired last week was a move up to Stevie's red line on a weekly basis that's where any countertrend rally would fail in fact that's a really important point out here because we were talking about the indices earlier in the opening two segments two segments of the show and when Michael asked me that great question do you know have I changed have I changed my opinion about this just being a countertrend rally what I really should have also done was pulled over for example on the Russell 2000 out here all that it's doing because it hadn't done is on its weekly chart getting up to Stevie's red line and that's basically where we're priced at right now the 1277 area and that's where a countertrend rally also would end not that it can't spike through it you know on a daily basis but right now what the Russell 2000 did was it was the only one of the four that hadn't gotten up to its weekly oscillator and change line level here for example take a look at the Dow here's the Dow would there be any reason for you or I to think that there's this is nothing more than a countertrend rally in the Dow the answer is Dow equity future contract by the way is what we're looking at and it's below Stevie's red line it's been a test and rejection of that level out there let's go take a look at the ESR the NQ that's the next chart that I pull over now this is the this is the the NQ is so important because look on a weekly basis we can absolutely make a bullish assessment here we have to otherwise that would be giving you my opinion versus the actual narration of what the chart is telling us but right now on a weekly basis prices above Stevie's green line 8566 when the line is green and you're trading above it that's bullish that tells you wants to move to the next higher level the next higher level if you can find resistance out there and so in the case of the NQ I actually don't have any other resistance I'd have to go back to some weekly profiles so but but the NQ you can see is trading above Stevie's green line so we'd be looking for some type of topping signal there inside the daily time frame for the NQ and we take a look at the ES mini prices basically trading right at Stevie's weekly red line you can see it's been trading at this area so all four of the futures contracts have made it back up to where they really needed to in order to create a solid countertrend rally move up there for the weekly time frame so um we've got a caller from Denver and uh we don't know who it is so uh caller could you introduce yourself to us hello no no we don't have a caller um okay I guess we don't have a caller so uh let me just go to the or we just uh okay got it okay okay um let me go to uh somebody would call them and ask for us to take a look at something and I will I'll do that here I'll try to do that let me get to this next question that came in this one coming in from uh Sylvia and Sylvia wants to take a look at uh ticker symbol SAVA so let's go take a look at it let's get this thing fired well we tried to do that come on come on system SAVA let's go see what this is this is a cassava sciences out here SAVA let me get on my other system as well and so Sylvia is asking the question that is broken out with confirmations with your metrics anything else that you could suggest to enter a position now okay so Sylvia is interested in in entering a ticker symbol SAVA that is cassava sciences it's trading above both the daily well the daily and weekly profiles out there and Sylvia at this stage here if it's too close to potential resistance just take a look at profiles out here so the reward risk trade would not be in there and that is at uh this month the month of uh april this formed a brand new profile and it's a bare structured profile what I mean by that let me just expand the chart let me turn off price I know some of you might say turn off price how can you interpret a chart if you're going to turn off price well that's because you and I use a set of tools that help understand where buyers and sellers are and so now you can see in the lower right hand corner you'll see a red line at 797 you'll see a blue line cyan line at 599 and you'll see a green line down at 202 the red line is sellers the cyan color sellers and buyers it's closer to the top than it is to the bottom a bare structured profile so you're now inside the range of uh SAVA of where sell or sellers are between 599 and 797 out there and so I could never suggest that now would be any type of a time period for you to enter this if you're going to try to buy this on a breakout well then price must close above 797 on a monthly basis out there let's pull over stevie's other charts let's go look at the daily time frame out here see if there's any kind of signals that we can give to sylvia to suggest that maybe this could form a top soon well just so happens that you are going to be in wave number seven that is letter g on my screen right now and so if something was entering wave number seven or letter g there's no way we would tell you to get into a long position here its resistance on the daily time frame is 835 if this did pull back sylvia after wave number seven over the coming days and price were to test stevie's green line at around 596 or so well then you might have a trade set up which is what you were asking for so you'd have to watch stevie's red line you'd have to watch the volume there that could give you a trade set up where you'd be looking to exit around eight dollars and thirty five cents but don't forget you've got sellers on that monthly chart of that 797 area that is cassava sciences steve roger tf and markets trading with extreme volatility and peaks and troughs everywhere regardless of what you're looking at in the markets this is a great time to see the type of analysis basal chatman delivers for his subscribers every market day with the opening call newsletter basal has been analyzing markets providing his take for subscribers to his trading services since 1984 every morning basal publishes an update for his subscribers along with weekend and evening updates when warranted the opening call provides traders a daily market overview with regard to the direction of the key indices selective stocks and commodities along with specific recommendations including stops and targets you also gain instant access to basal subscriber webinar archive from earlier this year a dark cloud cover an essential market analysis ride the chatman wave today by signing up for the opening call newsletter on the front page of tfnn.com under the newsletter tab new subscribers get a 30 day money back guarantee so you have nothing to risk sign up today the gold market has taken off topside the large way in 2020 if you want to take advantage of this sector now is the time to subscribe to my gold report the gold report took profits and four of its equities in the gold portfolio in the first week of january for a combined profit 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prices prices targeting eight dollars and eighty eight cents i don't see a topping a pattern in play at this stage of the game uh prices above resistance to top of its bare structure daily profile it's trading around seven seventy seven and this wants to go ahead to its resistance level of eight eighty eight out there so i hope that that helps you out uh we had a request to take a look at uh from george and tampa want to take a look at uh c y c y d y out here so let's go see if we can go figure out c y d y and where this is headed this is uh cytotin ink cytotin ink is trading now this has had a one heck of a move was trading at about thirty five cents about um four or five months ago and it's at three dollars and fifty eight cents it's about resistance daily weekly and monthly when we take a look at its um uh profile so that's not going to be good enough for us to get a feel for where this might be running into resistance so let me get my other chart pulled over here we can see that uh price today uh well really on friday it's beginning to move up and doing so with less relative energy out there uh that's only a problem if we see some type of bearish reversal candle so be on the lookout for that just like uh in essence re is inside of nordic american tankers out here we can see that this is also stretched on the weekly basis again no problem unless there's a bearish reversal candle that forms inside this ticker symbol c y d y and on the monthly time frame oh i don't have any kind of resistance for you so everything looks uh mean and green uh watch the daily time frame and if you see some type of bearish reversal candle that's going to be your signal that is getting ready to pull back so folks thanks so much for the calls thanks so much for everybody that wrote in everybody inside the tiger stand if i didn't get to your question uh and you sent it in by email i'll respond back to you in the meantime please stay tuned you got two more great hours you got your favorite polar bear david white he's up next tom o bryan to take us home from three to four and i look forward to seeing you on terrific tuesday used to be called taco tuesday because we could go out to the mexican restaurants and have a margarita and a taco no longer we have to do that at home see you later folks have a great day