 The following is a presentation of TFNN The Traders Edge with Steve Rhodes free at 1-877-927-6648 or internationally at 727-873-7618 The Traders Edge now Steve Rhodes Good afternoon folks welcome to the wonderful Wednesday the December the February 12th edition of today's Traders Edge show I'll figure this out. Don't worry about it. I'm your host E.B. Perseverance Rhodes see we can persevere through anything and you know part of that perseverance is that we should always be pioneers of our future versus prisoners of our past How many people do you know that are just simply prisoners of your past and when it comes to trading and investing folks we cannot be successful if we're going to be prisoners of our past our last trade is our last trade the question is what's the next trade that is out there maybe today we'll go find a few would be easier to find them if you give us a call at 877-927-6648 if you're doing some bottom fishing give us a call we'll go ahead and take a look at your charts see what patterns might be setting up there of course if you're top fishing out there looking for a top we'll go take a look at those patterns as well our call numbers 877-927-6648 if you can't call in well we've got you covered there you can always send me an email steve at tfnn.com is the email please put radio show question in that subject heading and of course in our Tigers then will any ping we'll do so let's go ahead get this show started on wonderful Wednesday of course this is Tiger financial news network I'm Steve Rhodes welcome to last show right now all the indices are in the green out here with the exception the spot volatility next and we'll spend a little time take and look at that because today's close should be very important right now it's trading below its 50 day exponential moving average but we'll go take a look at that right now the Dow is up 183 S&P is up 15 we're going to take a look at some short term timeframe charts as well so you can see the patterns that are in play out here we use the same patterns just for different time frames and they provide us with different pieces of information out there but you know to get the play by play of what the markets want to do next well that for that play we've got to take a look at our short term time frame so why don't we begin there let's begin by taking look at the ES many just in a short term basis now we'll go ahead and we'll switch gears we'll move that to a longer term timeframe but as we take a look at the ES many on a 30 minute time frame what we see out here is a Rhodes momentum indicator topping signal it is in play as we speak just right now now what sellers have the responsibility of doing when they get a topping signal doesn't matter what pattern is you use in this case here it's just simply to push price back to support this is the old tug of war this is your football game this is your offense your defense out here the defense where's the defense at where are the safeties at right that's all that we have to do now for those of you that don't understand football and I'm not saying I understand football but for those of you that don't understand those positions we'll just simply apply that to our stock charts out here where's the defense a defense out here these in the 33 69 and 33 71 area that is where they should be able to stand tall stand strong out there and hold any decline lower why would Stevie say that well if you take a look at that 30 minute profile what you will see is that that centerline is much closer to the bottom than it is to the top now why is that important well at the top are where the snipers are those are the sellers at the bottom are where the buyers that now the beauty of that centerline is there's both buyers and sellers so if that line is closer to the bottom then we have a a a a larger group of buyers in between 33 69 and 33 71 now if price were to close below 33 69 then where are the safeties the safeties are the TD setup nine counts that is where the breakout occurred the last breakout inside the ESP now 30 minute base was 33 5850 and there's one at 33 59 those are your strong supporters or should be your strong supporters that's what's going on if we just simply take a look at the short term time frame if we now go ahead we step it up we take a look at the daily time frame out here what we're going to see is today is going to be day number seven of a potential TD setup nine count pattern that's where in that nine count pattern we can see a complete reversal we can see just a little hiccup where we can see a sideways move out there now somebody might say geez louise depot you could say that about any candle yeah you could but the nines it's all about the nines and I was born on September 9 so how would that be that that the nines turn out to be such a good pattern out there well they are and we pay attention we can also see just like on that 30 minute time frame on the daily time frame we've got a roge momentum indicator signal it's just a signal out here not confirmed the 30 minute was confirmed the daily not confirmed we would need some type of bearish reversal candle we don't have that as we speak you would also need to see a close below steve's green line 33 48 many people ask the question and it's a valid question what is a retracement just as a retracement out here well that's the beauty of that green line that oscillator and change line because anytime price is just pulling back and testing that level and by testing that level what that means is that if price closes over it but it tells you and I as we still have a rising price oscillator in a steve's line is green versus red which it's green right now that says we have a rising price oscillator above zero and those my friends are nothing more than very bullish market conditions so as we speak right now we've got the weatherman saying hey bring your umbrellas partly cloudy but you know what that means for those people that like the cup half full it's really partly sunny I don't believe in partly cloudy I only believe in sunny skies out there that's all reason why I live in Florida well that's not the reason but it is a primary reason how many days do we wake up to not having blue skies it's basically a handful or two or when some type of big tropical storm is going through okay so that was the s&p 500 no we're not done take a look at the s&p 500 if we go take a look at what's going on inside market profile land well we're not going to see much but what we do see is the e as many as above it's daily and it's weekly and you'll have to trust me on that it's above it's monthly and it's quarterly and quite frankly it's above the 2019 high folks closing high actually the high of 2019 period those are full breakout mode conditions now let's go take a look at spot volatility that has been the big booger out here because it has been traveling above its 50-day exponential moving average and when it's above that it tells us about a lack of liquidity in the market a market that can be brittle because if there's a lack of liquidity so to speak I know that seems odd to you but that's how I interpret the use of it and if you use it for a long period of time as I do it in the same way you'll you'll get the same response now the beauty is that when price is below the 50-day expansion moving average what it's signaling to us is plenty of liquidity plenty of liquidity is the message as we speak at 1 13 in the afternoon you'll want to watch that 14 40 level out there and for those of you that are trying to short the market if you see a close below 14 40 what this is really signaling to you is that the spot volatility next wants to move all the way back down to that lower Bollinger band that lower Bollinger band a different Bollinger band then if you throw that up on your screen you're going to typically see that what is it 20 and 2 I think that's the normal setting out there 50 and 1 is the one that Steve uses when he's taking a look at spot volatility next I recommend that you do the same you will find it is a useful tool out there we talked yesterday about the s and p 500 equal weight and just simply the spy and that's the left hand panel out here and we had talked about how there was a divergence now it's really close as we speak this is going to be an end of day reading the level to be watching 1 18 40 the equal weight is trading at 1 18 51 right now so you get a close above that 1 18 1 40 in the equal weight RSP it is off to the races we're getting these off to the races messages inside the s and p 500 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 2500 global financial markets such as stocks ETFs commodity futures and forex headed by Steve doll TAS 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 doll and Tom O'Brien just hosted the best way to use the TAS profile scanner to profit this webinar archive is available for all subscribers immediately upon signing up all 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Petersburg Tampa and Clearwater markets tiger real estate LLC is a firm that has extensive experience in the Tampa Bay area whether you're looking to sell your current property for maximum value or you're in the market for a second home or investment property tiger realty has the experience across all areas of real estate in the Tampa Bay area to help buyers and sellers make the most informed decisions across all price levels from the price you should be paying per square foot in certain up and coming areas to the type of cash flow investment properties are capable of creating tiger real estate can help you make the best decision when it comes to all areas of the market before you make one of the biggest decisions of your financial future call tiger real estate LLC today at 727-329-8322 or email us at tiger at TFNN.com that's 727-329-8322 call us 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 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that equal weighted ETF RSP that's the upper left hand corner if you're watching us on tiger tv and the equal weighted ETF tends to be the real leading indicator so when there's a divergence which we were taking look at yes and there still could be by day's end out here because we're taking like when I use this tool I use this and I look at closing prices that's the reason why we're taking a look at line charts out there but if it does close above the most recent high so it's at a new all-time high it's just confirming what we see in the weighted versions out there so I just wanted to make sure that I covered that I know as we came back from the break let's go to one of our first questions out here or in fact this is our first question this is coming in from lee b and lee writes in he wants to well let me see what you're actually writing any chance we can revisit wrtc absolutely so our your request is db's demand out here so let's pull up wrtc that's rap technologies and get the current analysis on it so yeah let's take a look at it so as we take a look at rap just simply from a profile standpoint out here lee we can see that price is trading with inside its daily and its weekly out here now the daily profile is bearish and structure bearish and structure because at 709 is the center that's where there's both sellers and buyers but notice at 735 those are sellers only that's the sellers only club and support is at 632 that is the bottom of the box so my experience is that when on a bear structured profile and you can kind of see it out here then the way that it first behaved once it formed then once you start getting below the center line of the box it's telling you that sellers want to go ahead and push this price down to the bottom again and what we saw was that center line price stop that was a February 10th just two days ago as well as yesterday that price really found its resistance level so the sellers are really camped out here at that 709 area now you've also got resistance 698 on the weekly time frame so you got sellers on an intermediate term basis that are sitting up there as well so right now what this looks like is wrapped technologies wants to head down to the bottom of that profile 632 if you're looking to get into this and then we'll pull up my other chart see if there's any other signals out there that say caution but right now it's just consolidated between 632 and 709 that's that's read there's not enough data on the monthly time frame for us to be able to figure out anything else if I pull over the daily chart out here daily chart shows roads went to indicator top okay so in essence it did its thing what's its thing stevo well remember whenever you form a top the valid topping pattern valid because we had that bearish engulfing candle it formed on January 24th so we got that pattern out there what can sellers do they push price down and they try to bust out support were they able to do that no they were not if lee and I'm not saying this is going to happen in fact there's no reason for me to say this is going to happen but if in fact sellers were able to push through that 632 level then you could be looking at a price point of 425 that's where price most recently broke out on a daily basis for ticker symbol wrtc but right now we're going with the just simple good old-fashioned consolidation pattern really in between 632 and 709 so I hope that that helps you out lee thanks so much oh I'll I'll share with you this to the weekly chart um let's just pull this over here this also has a confirmed roads momentum indicator top so what's that say you know it says price uh that sellers should try to push price down to stevie's green line that's at about the 622 area 622 632 so that's really where your support is on wrap technologies ink that was for lee and no other questions at this stage of the game so let's just continue tooling around of course you can reach out to us at 8779276648 what other things should we go look at let's go take a look at the new york stock exchange so we're now in day two above the advanced decline oscillator line that is panel number two let me get to in the advanced decline line is that another new all-time high as we speak right now that is bullish not to bearish markets do not end with the new york stock exchange um uh advanced decline line at new all-time highs there was one example of it one in the entire history of using advanced decline line in new york stock exchange so let's just say the probabilities are pretty slim out there but what we were talking about was the advanced decline oscillator that is the difference between the 19 and the 39 a period exponential moving average and when that gets above that zero threshold level that is also another signal this is for the new york stock exchange that buyers are the ones in control of the market and what this suggests to you and I is that advanced decline oscillator is likely moving up towards that 150 level clearing the 150 level while that just tells us that we've got higher prices coming at us into the future out there we're not there yet but right now what it is it is bullish configuration you get the combination of that advanced decline oscillator reading above zero and the spotball of tilt next below its 50 day exponential moving average again that is 1440 and right now the spotball of tilt next is trading at 1422 this whole combination is a combination for prices to move higher now you might ask that question prices to move higher to where stevo well let's go take a look because we're above all profiles because we're above everything we're at new all-time highs the only thing that stevie kane really come up with to help you identify identify where price is likely headed to our horizontal trading range now this is a monthly time frame chart for the s and p 500 and what you have on here are daily weekly and monthly horizontal trading ranges they're typically always going to be slightly different because we're always using the close or open of a bar we don't really care about those extreme emotions extreme emotions are the wicks of those candles or the upper or lower shadows whatever you like to refer to them as and here we take a look at the horizontal trading range and we're going to see that price we're trading at 33 71 at the 33 88 level is the next daily horizontal trading range could this be a place where we see a pause we could more likely than not because of the setup if we get that spotball of tilt next to close below that 50 day combination of that and the new york stock exchange advance the client oscillator above zero really suggesting to and knowing that that bolinger band on that spot fix is relatively wow look at that wave in portugal holy schnike he's out there that's a wave in any event sorry folks what the whole combination and setup here is more suggestive of price headed up to its monthly horizontal trading range that's at the 34 52 area 34 51 78 to be exact but we're not going to try to be exact out here I don't want to be exact I'd love to be exact but I can't be exact because that's crazy but it looks like the s and p wants to move up into that 34 51 ish area over time we had a request to go take a look at let's see Tucker said oil natural gas if you have time we're going to make time for you Tucker so in the case of lights we'd crude let's do this here let's do this let's do this what are we doing let's do this let's let me get lights we'd crude out here for you and and what I'm putting up here is my composite contract which is going to show us all different kinds of profiles daily weekly monthly quarterly uh and so just waiting for that to populate while that's populating Tucker let's go take a look at what lights we'd crude is doing and as we see right now what lights we'd crude did several days ago two four five days ago was it confirmed a by the d point of the a to b equal cd pattern and this was your 1 to 1.272 a to b equal cd pattern it did it with what why did steve oh say it was confirmed because the bullish engulfing candle that formed out there and now Tucker prices trading above steve's red line a close today above 50 61 says we go test at least the top of its daily profile and you want to know where's the top of that daily profile it's 53 86 steve roads with tfnn 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 roads 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 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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 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 so uh just to re-answer tucker's question you want to take a look at lightsweep crude and then we're going to the break out there so here are the things that we know when lightsweep crude topped it was with wave number seven that is litter g on my screen out here from there what lightsweep crude has done thus far it made an a to b equal cd to the downside now remember these a to b equal cd pattern the market is doing 75 percent of the workforce it's a beautiful thing it forms the a point the b point then the c point out there all we have to do is just simply know the rules and the rules are that the c to d leg is equal to the a to b leg ah hold on that's only one portion of the rule just because price makes it to the d leg or equals that a to b leg on the way down that doesn't mean that's the buy no no no no no no no that's the way steve used to to think about it many years ago when i first learned that pattern i don't want you to make the mistakes that i make i'd like you to make newer mistakes and tell me how you resolve those and then get back to me so i can improve my trading as well and what i found was that markets will just simply continue moving lower until we see the first sign of the bulls how do we know what the first sign of the bulls looks like that's the reason to go learn your peas and cues or really your japanese candlesticks out there they are very helpful in identifying where the buyers are coming in they're especially helpful when we see them at the completion of a pattern steve doesn't really give a whole lot of uh got on care a whole lot about candle formations in the middles of of a move they're nice they're interesting or whatever they just don't have as much meaning so i don't put a whole lot of mind time there and a lot a lot of my time either now in the case of lights we crew tucker would also created was not only that that a to b equal cd pattern it created a td nine count remember the bottom or the low of that td nine count can occurs on bar eight nine or the bar following on this case here was a bar following nine so we have two bottom signals now what we've seen today so far in prices above steve's red line so that's positive because it says okay we have a rising price oscillator it's still below zero but at least it's rising you want to see a rising price oscillator now here's the problem the bounce so far today ran into what sometimes can act as resistance which is old support and old support happens to be this td setup line out here tucker that's at fifty one seventy six so we really need to see for lights we crew to really confirm now what i don't know is you know is this really acting as resistance i do know it worked as support and oftentimes old support can be new resistance out here and so until price clears fifty one seventy six lights we crude really isn't out of the woods so to speak but if it can get about fifty one seventy six then we go take a look at our daily profiles now on the daily profile for lights we crude what you're going to notice let me just expand the chart let me turn off price because this is important to understand where lights we crude is likely headed to and that is we're going to turn off price why because now you can see the profile and this profile here what kind of structure is the current daily profile exactly it is a barest structured profile because the center line which is at fifty two eighty five is much closer to the top at fifty three eighty six so even if lights we crude can clear the resistance level old support which is now resistance at td nightgown line out there then it still has a lot of work to do to the upside because sellers are sitting between fifty two eighty five and fifty three eighty six but more likely than not that is where price is headed to now we'll turn price back on and then boom wallah if we take a look at the other time frames out here what we're going to notice is that what lights we crude also did when it was potentially bottoming escaping and giving us the bottom signals was testing the bottom of that quarterly profile or close to it which was forty nine eighteen did it get really all the way down there no it got down to forty nine thirty one is that close enough for us close enough for me at least so that's what's going on we take a look at light sweet crude the other request was to take a look at natural gas i don't think i've got natural gas set up with a composite symbol i'd have to really make that i haven't gotten around to it i'll try no well it's not going to do that if i put in cng that's for sure but i don't think i've got that but we can still take a look at natural gas tucker and we will so let me see here yeah it doesn't like that okay x-nate to that let me pull over the natural gas contract let's do it a couple of different ways out here let's see here we got here we have natural gas and so natural gas it's interesting here right now it's trading out at one point eight four and at one point eight four two is the gap on sunday it was really the low of friday but when the markets opened up on sunday natural gas gap to the downside and so what natural gas is trying to do right now is close close that gap that would be old resistance so if tucker you see a close above uh one point eight four two out there that suggests to you and i that price will rise to about one point nine zero eight one nine zero eight would be the top of its box now the center here is pretty much in the center so in this case here neither side bulls or bears have the advantage inside of the uh profile out there so watch that one point eight four two if it closes below that then it hasn't proven itself to you tucker now price was moving lower doing less round of energy no bullish reversal candle always makes me suspect doesn't mean that it can't bottom but what it means is that our work is a little bit more difficult and we really have to assess some of these other patterns that might be present the marketplace such as price bouncing into where to gap down on sunday so that's what i see when i take a look at natural gas and lights we crude i hope that that helps you out with regard to what you might want to do fletch wants to take a look at um i b b so let's go take a look at the i b b fletch anything specific that you need out there i'm just trying to get things loaded up on my other systems out here we'll switch over and take a look at the i b b that is the biotech sector for the nasdaq and uh looking to go long not in it okay so if we take a look at it what you've got here is you've got price that is trading above the top of its bearish structured daily profile i was like to say nothing more bullish in a failed bearish pattern well that's a failed bearish pattern because price sellers should have been able to have stopped price prices advance at 122 12 hasn't occurred the top of the weekly profile is 122 24 prices above that the top of the monthly profile is 120 70 now look that week's not over the month is clearly not over out here but price is trading above some resistance levels so that looks pretty good to stevo today's going to be bar number eight i was doing some programming changes earlier in my charts are kind of a little screwed up screwed up it's not getting the current day's data in here so i know that yesterday's bar was bar number seven seven was it bar number seven yeah it was bar number seven and today may be bar number eight but i don't see any other real issues out here with regard to the i bb other going all the way back to the high from december 25th and so fletch if price closes over that high uh that high by the way the price point there is um oops wrong thing wrong thing wrong thing uh 12374 where's the trade right now 12374 above above 12374 uh who wanted this fletch doesn't look like it'll pull back if you were looking for a pull back if you were fortunate enough to get a pull back where's your entry point into this well steve's green line is 120 102 that would be an area to be looking for we know that this td9 count breakout level of 119 19 didn't hold so even though it's extended out here fletch we're not going to use that as an entry point so it's either going to be 120 102 or the bottom of that daily profile 116 22 that's what steve sees when he looks at the charts for the i bb for its daily time frame we'll be right back if you're in the cd market and looking for a secure investment the tiger first mortgage program may work for you the security for these first mortgages are building lots in the tax opportunity zone in st petersburg florida the tax act of 2018 set up tax free zones across the country where you can build 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 20th is 3.1 percent a 50 000 investment at a normal four-year cd rate of 3.1 percent would give you income of 1550 per year or 6200 over the four-year period that same 50 000 investment in the tiger first mortgage program would give you 3500 per year or 14 000 over the four years what should you prefer 6200 or 14 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tiger tv for the latest market information welcome back folks dowse up 214 s and p is up 17 let's go to our next question this one coming in from satish inside the tiger's den satish looking for an entry point into berkshire hathaway ticker symbol here that we're looking at brk.b out here so satish at this day just looking at market profiles here's what we know it's really a mixed bag on a long-term basis prices above the top of its monthly profile that's 22407 so that's in breakaway mode the weekly you've got a bear structured weekly profile 228 39 is the top of that profile price hasn't really dipped much below the centerline at 224 68 so this is just kind of maybe it's building up some energy to take out that resistance level out here and on the daily time frame what you can see is a daily bear structured profile so your entry point you're asking for an entry point the entry point out here profile wise likely about 226 36 to 224 68 the bottom of the daily or the center of the weekly let's go see if there's anything to be cautious of inside of berkshire hathaway of course there's always reasons to be cautious but as we take a look so price was moving higher doing less relative energy generated that roads meant to mitigate her top on january 21st out here so that's that's and you've got this little bear structured so it does have some work cut out for itself to get above resistance I don't have any other entry point inside of berkshire hathaway on this chart 209 72 but I'm not suggesting to you that price will get down to 209 72 222 19 maybe but not 209 72 at least not as we take a look at the charts presently on a weekly basis out here berkshire hathway and looking like much of the markets out here which is on a weekly base you've got to confirm roads meant to mitigate her top but price is really trading right at steve's green line and was a and with inside the weekly profiles out here so nothing is really cracked just simply at this stage here we'll have to call it a pausing situation can we call it a pausing situation that kind of sounds pretty weird but that they that you know get in line with it sounds pretty weird on a monthly basis price will be hard doing less row of energy but that alone is not a reason to be too cautious so berkshire hathway much like the rest of the markets out here hard to find a an entry point for you because the pull backs or the entries are not too much below where things are trading as we speak right now so satish I hope that that helped you out with regard to at least our analysis on berkshire hathaway if you want in maybe like the markets you're going to have to hold your nose and jump in the pool out there if you're going to do that just watch that spot volatilics if it's trained below the 50 day exponential moving average you know we've got a wide bolinger band out there and you might be able to get some shekels off of a move inside of berkshire hathway but you know we've got that resistance out there so you've got to maybe you could find a better instrument so to speak let's go to our next question look to be lining up out here m i k i believe it is not m i c k e y but it's just m i k this one here for hector and the fuel injectors and he's bottom fishing here so bottom fishing inside of uh this instrument what we'd really like to see is some kind of bottoming pattern for you this is michael core's company out here and as we take a look at it let me try to expand the chart again doesn't have today's data in here but in there is a bottom on the trading day of january 31st out here so we know that let me come back over here now to my other charts and see where it's trading so if you're bottom fishing here and that low has not been dealt with or taken out that low by the way is well let's get that uh data box over there so you can see it too the low is 480 now the volume on that day was 4.7 million shares yesterday 3.2 today or 1.4 so if you're bottom fishing and you want to take the trade then go ahead and take it now take it now uh know that the average true range the last 10 days the average price movement is 38 cents your stop must be 38 cents times one of the multipliers 1.272 or 1.618 because you don't want to do anything average if you do something average you're just you're gonna get poor results out here and so we have to we cannot put a stop so tight that it's with inside the average daily movement I mean put a gun to your head and pull the trigger if you're gonna do that not don't do that but you know what I mean out there so instead you've got to have that wider stop does having a wider stop inhibit the success of the trade no all the wider stop does is just changes your position size you see what you're gonna risk on a trade should have nothing to do with the stop risk is a whole separate calculation maybe risk is one percent your working capital maybe using a trading system where you know what the percentage outcome is and therefore you want to use two percent and we say one percent I don't care if your capital is a million ten million or a hundred bucks or a thousand or ten thousand it's just simply one percent and on ten thousand dollars one percent is what a hundred bucks that's all you have to risk now what do we mean by that that means you take that hundred bucks you divide it by the stop in this case here 38 cents times 1.618 I don't know what that is I'll use 50 cents as the stop so you take 100 divided by 50 that tells you can buy 200 shares now granted 200 shares is going to be 200 shares times five bucks okay that's yeah you're gonna need more capital I'm talking about risk because you're gonna have a OCO order in there you're going to at least have a stop that's in place out there that says if you touch that stop I'm out of here now maybe you want to have an end of day stop that's fine just make sure that it closes out I don't want you going through that gyration oh shoot it's below my stop now what do I do you know what to do because before the trade you set up those parameters so if you want to take that trade now would be the time this is the best reward risk for you Hector and the fuel injectors on Michael Kors the next question coming in from Dan Dan the man Levitane he wants to take a look at PEP earnings are tomorrow order this is PepsiCo so do we have anything for PEP and your question is you put a bearish diagonal butterfly on it can you please show short-term support resistance share your thoughts so let's take a look at this you want to know where short-term support is well as we take a look at daily profiles weekly profiles monthly profiles Dan prices above all those this is suggesting this has got a free range to run to the upside there's no resistance out here as far as support well inside of PepsiCo we'd have to say the top of its daily profile 144 15 would be a level the center could be 140 194 the bottom 138 27 could be I'm not saying that's where it is although those could be levels out here but when you're above resistance old resistance should become new support the profile on the monthly is 140 45 the top of 138 25 on the weekly are there any things here to suggest that PepsiCo is forming a top and the answer there is like today's going to be or appears to be bar number eight of a TD set up nine count maybe today could be that high but it could be tomorrow or it could be on Friday if that's a topping pattern price to move it higher doing less relative energy I'd rather use that pattern to help you identify a top in that case you would need some type of bearish reversal candle and you would also need to see price close blows Stevie's green line it's not it's above it 145 24 if anything the signals here on the daily time frame are to be bullish not bearish and that's the same message I see we're going to break on the daily on the weekly and the monthly as well see roads be right back Basil Chapman will be hosting a 90 minute live webinar for subscribers to his daily trading service the opening call Thursday February 13th from 4 to 5 30 p.m. Basil will host his live webinar titled the dark cloud cover an essential market analysis in this 90 minute webinar Basil will discuss the techniques he uses when identifying market downturns using his Chapman wave including how he uses specific ETFs like the smh semiconductor ETF as a canary in the coal mine leading indicator when looking for market downturns by identifying particular weaknesses in the market technicals Basil is able to identify the severity of the market reaction and this is just one of many topics he'll be covering to sign up now for the opening call visit the front page of tfnn.com don't miss out on this special 90 minute live webinar with Basil Chapman Thursday February 13th sign up today the gold market has taken off topside in a 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 in four of 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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 have been called miracle molecules because like sunlight air and water life cannot exist without them that's right page 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 page of living a primal lifestyle buy it today for just eighty nine dollars 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 one of our listeners phil writes in he says he saw the tnp finished a td9 count and undercut a pivot by three cents three days ago do you think when i take a look at tnp out here let me put up the daily timeframe try to know if that's what you're looking at so i don't have a td9 count from three days ago what i do have though is a roge momentum indicator signal phil so what i'll do is i'll send this chart to you so you can take a look at the nine count pattern that i've got out here and compare that to what you've got but more important than that you're asking me hey what do i think i'd love this as a trade here what do we what does steve love about this number one yesterday was the confirmation of that roge momentum indicator bottom it formed that three river morning star pattern it also conferred it also was a uh bull sash candle and now today what we love about this phil is prices trading above steve's red line that's the oscillator unchanged line that's at 302 and it's now inside a bullish structured profile so what you're looking for the next move if you are in this i believe you're in this um is watch price if you can get above 314 close above 314 not 315 not 360 not i don't know what the number is but you know above it uh because it's a bullish structured profile then what buyers should be able to do is push price up to the next level of resistance that's 353 or that's 374 so a couple of folks were out there taking a look at trying to buy things that were moving higher that were above profiles looking for an entry point i'm going to share with you that phil here saved your day a hector you like to bottom fish out here and we were taking a look at remember the name of the symbol out here i would rather see you bottom fish and take a trade in this because of its bottoming pattern not that that one that we looked at didn't have a bottoming pattern i believe it had a td9 count there and price had pulled back out here but i like this setup a whole lot better doesn't mean that it's going to work for goodness sakes but for those of you looking for a trade dr phil is the one who provided this to you so send him your royalty check but right now looks like if this can clear 314 353 to 374 is in the bag folks thanks so much for being here stay tuned my favorite polar bear david white he's up next after that you got tom will brian and i'll be back with you on thirsty thursday although i'm thinking wednesday could be a little thirsty too take care