 The following is a presentation of TFNN. The Trader's Edge with Steve Rhodes. Toll free at 1-877-927-6648 or internationally at 727-873-7618. The Trader's Edge. Now, Steve Rhodes. Good morning, folks. Welcome to the January 4th and terrific Thursday 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. Let's make sure we have an extraordinary one. Now, the easiest way to do that is to always remember that life is happening for us, not to us. That's right. When you and I make that one little two-by-four shift, it means we can find the gift in every set of 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'll go figure out what those bulls and bears, what those buyers and sellers are communicating to you and I at just past 11 o'clock in the morning. I want you to know I'm absolutely grateful for your presence here and even more important than that. And that's this. During this next 53 minutes, I'm here to serve you. So feel free to pick up that phone. Dial on in at 877-927-6648. Now, if you've got a question but you can't dial in, you can always send me an email. Send that off to Steve at tfnn.com inside the subject heading if you'd be kind enough to put radio show question. Of course, if you're inside our Tigers Den, like Dano, like G-Man, like ABCD, like John C. have done, you can always send me a message. You can be a private or otherwise, but would love to hear from you. So let's go ahead and get this show started. On terrific Thursday. Of course, this is Tiger Financial News Network. I'm Steve Rhodes. Welcome to the show. Almost a sea of green right now. What's not green is the spot as the semiconductor index. It's off 16 points. Dow's up 204. S&P's up 13. NASDAQ's up 11. Russell's up 6. Tran is here up 20. Gold's up 10. Silver's up a penny. Lights recruiters off 78 cents. Natural gas up 8 cents. 30-year treasury. Dow 1.5 ticks. She's printing out at 122.31. So what's all that mean, jellybean? You know, that's a great question. So one of the first things that we want to focus on today, certainly coming to today's close. So yesterday, we anticipated that there would be a bounce today. And we came up with that harebrained idea. Well, really, it's off of a two different, well, let's do this here. Let me go back to a different set of charts. Just give me a moment and try to set this up, and I'm going to pull this over. So we came up with that conclusion based upon the following. And that's this. So here's the NQ. The NQ is the one that's been leading us down. And if you take a look at the blue arrows that you see on your screen out here, you'll see where we've had four consecutive moves to the downside. Now, they've either led to a one-day bounce or a very multiple bounce out there, but at least they want a two-day bounce out here. So the question is, will we see that same thing unfold today? I think we at least get the one-day bounce. Do we get a two-day bounce or not? To get the two-day bounce. Now, this is not dealing with the NQ, but more of the S&P 500 and the ES mini. What we want to see is we want to at least see that spot follow-to-next trade, I'm not trade, but close below as 50-day exponential moving average. So that happens to be panel number two on the screen that we're looking at from the left-hand side. So you've got the ES mini daily timeframe. We can see prices close below the bottom of its daily profile. It's trading with inside its weekly profiles out there. It's panel number two that's most important. Yesterday we saw a close above the 50-day exponential moving average. You know Stevie's rule, you need to see two closes above resistance or two closes below support for it to be something other than a one-hit wonder. So if at day's end, price closes, the spot picks in, it closes above 1388, it's not good for the S&P 500, which I would also assume it's not very good for the NQ, but if it closes below that, what it does is it adds the idea of at least a two-day rally taking us into the weekend out there. So that's where we're at when we take a look at these markets. We'll also want to take a look at any kind of inter-day signals as we roll into the evening portion of the session. Perhaps it's tomorrow morning, when we're back together by 11 o'clock, we'll have a pretty decent feel, but watch that spot follow tunics because the S&P 500, the ES mini, also had four consecutive days to the downside. And if the close above that 15-day is just a one-hit wonder, why is the 15-day exponential moving average so important when Stevie talks about it? And that's a great question out here. All I can say is you've got to be, we're mostly visual with regard to our learning. So here's a visual chart to show you why that's important. Now, it's generally speaking out there, but it's a really good generally speaking. The areas that I have shaded in or highlighted or boxed in, or boxed rectangle, whatever shape it is out there that are in green are time periods where the spot follow tunics is below its 50-day expense moving average. Let me just move this back a bit. Then we'll pull this forward and you can see that. So those are periods where, the green ones where the spot follow tunics is below its 50-day. The red ones are when it's above the 50-day. So you can see that it's a really good guide as to what the S&P 500's intent is. And it's the reason that you and I look at this. Now, this was developed over a decade ago where I wrote a program, went in and it took a look at the spot follow tunics and it was a 50-day. I used a number of different moving averages, but it was the 50-day that gave the best results. That program was on a different set of software. I'd have to redevelop it. I'm not going to do that. I know that it worked historically. It's working now. And it's the reason why I, and I think you, should pay attention to that 50-day. It's the only time I use a 50-day expense and a 50-day expense moving average. I've got enough other tools that assist us with regard to what the markets are communicating. So that's what I think that we're looking at. That's really the setup for the day. Just trying to boil it down to if we can. You know, like Curly said, one thing. At this stage here, I think that one thing is going to be that spot follow tunics. Right now it's trading out at $13.72. That should add to the rally that we're seeing out here. In fact, let's go take a look at the charts for the NQ. Well, what was the other reason to consider the at least a one or two-day rally? This is the NASDAQ 100. Since that's been the leader to the downside, what I have is 38 years' worth of data. And this is from the folks at Seasnecks out here. From a great historical seasonal data, lots of flexibility, very cool tool out here. Well, how you and I are going to use it as a cool tool is trying to understand what the average seasonal cycle is. Well, if you take a look at this, you'd be wondering why did the NASDAQ 100 sell down? Looks like the NASDAQ should rally into about the February 15, February 14 timeframe. Well, this is only one potential seasonal cycle. There are others. And the other that might be the one that's in play here is the election seasonal cycle. Now, I utilize the Dow because I have 126 years' worth of data, not 38. And when I go down to now four-year cycle, basically a presidential cycle out here, I've only got 10 touch points. But if we do take a look at this, here's the presidential cycle as we opened up the year, what did the NASDAQ 100 do? Cruise to the downside. Now, here's the thing. What this is telling us is this telling us to expect a little bit of a bouncy period, in fact, quite choppy, but not to expect or anticipate a bottom until the end of January. That's if the NASDAQ 100 follows along. But at this stage here, we were supposed to at least get a one or two-day bounce out there. And that's what I expect. We'll take a look at that spot volatility at the session end to help us with that determination. So we get back to this break. We have a number of requests out here. Let me just switch over real quickly to the intraday charts here for the NQ. I realize we've only got about 15 seconds. Let me see if I can get us over there. And what we see here is we see bottom patterns. I'm looking for where's the next topping signal. And it's a 15-minute chart right now, just dealing with the 16, 5, 69, 50 level. When we come back, we'll be able to take a look at the NQ charts later. But let's take a look at Nike, 30-year Treasury. Sofi, see and love. Be right back. TFNN Educating Investors You might think that if you want to be successful at trading in the stock market, you're going to need a crystal ball. After all, it's impossible to predict the future, right? Like any endeavor in life, before you decide it's impossible, get some advice from the experts. You might find that it's not so impossible after all. For daily market overviews that give you direction on the key indices, selective stocks and commodities, subscribe to the opening call newsletter at TFNN.com. The opening call newsletter is written by Basil Chapman, creator of the trading methodology known as the Chapman Wave. 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So when we take a look at the monthly time frame chart, we just have a consolidation with inside profiles. Support at 96-66, resistance 116-67, on a weekly basis. This is going to be really key here, Dan. I don't know how Nike is going to close tomorrow, but it's got a nice TD9 count top. And what price is doing right now, it's testing weekly support. It's actually trading below profile support out there. And the profile support level is at 103-88. If price is able to close above that, then it's going to make a say, hmm, something to think about. In fact, if I open up a weekly chart for Nike, what the reason why that bottom of that profile is so important here is because if it closes below it, it gives us a change in trend signal. Just like we have change in trend signals right now for the ES, the NQ, and the Russell 2000, but not so in the Adal. Here, if we take a look at the NQ, if you just take a look at coming off of this Rosemindim wave number seven top that formed out here back in November, it wasn't until price closed below the bottom of that profile on January 7th that that generated that change in trend signal. And then we never saw price close above the top of a profile. We saw a couple of times when price got up to a top of weekly profile, but then it found resistance. That's where the sellers reside out there. So in this case here, Dan, what I don't know, what you don't know, but what you want to watch, or maybe you do know, is you want to watch that 103-88 level. If that holds by week's end, that could be, well, it tells us that we don't have a change in trend out here inside of Nike. So watch that. The daily timeframe does have that change in trend signal. Should have did that when it gapped down back on December the 26th. What we don't have here is any kind of a bottom signal. In fact, this suggests to you and I that price wants to go target 93-73. We would only come to that conclusion if we get a close below the bottom of that weekly profile. And then we'd say, well, 93-73 to 95-92 would be the range. 95-92 is the weekly T9 count breakout level. Now, on a 195-minute chart, remember there's 295-minute bars in a single trading day out there. That's why we use that timeframe. No bottom signal here. But when we get to the other timeframes, 130, 65, 30 in the 15, we've got all kinds of bottom, either signals or confirmations. In the case of the 130-minute timeframe chart, it's going to go ahead and complete a, it's going to confirm a TD9 count bottom. It'll complete that. Let's see. This completes at 1140. So 20 minutes from now. So just add another 130 minutes of that. That's when that next bar will complete the pattern. But here's the real key thing I think, Dan, for you to be watching. And that is that if we take like this 130-minute timeframe chart, we can see that it's also there and change line is acted as resistance. So if you were to see a close above that, that is right now printed at 104.95. That would be telling us that the character, at least for this timeframe has changed. And then we'd have to take a look at where profiles are. If there's new ones that form right now, the profiles are up at 107.23 and 107.87. If for this timeframe, it was only a countertrend rally, you'd be selling the 107.87 area. I say area, not necessarily right to the tick. We've got a Roadsman Dominicator pattern that is attempting to complete out here at 11, another 19 minutes. If we still have a bullish hammer candle, that'll confirm that. But also price has got to get above that oscillator and change line in order for any upside traction to take hold. And that's 103.62 right now. So you see the other intraday charts out here. Nothing is closed above any significant resistance levels out there. So what I'd say you need to do is the intraday charts here are, to me, they're suggesting that a rally attempt is underway out here for Nike. Now, maybe that's just simply because of the one or two-day rally that at this stage of the game we anticipate inside of the equity markets out there. So maybe this is a little bit of a sympathy. But that's what I see when I take a look at the Nike charts out there. You say I'm I-104 is your first target on Nike. That would retake this profile. Okay, was great. So yeah, I got 104.94 on the 30-minute, 130-minute timeframe. That is, so it looks like I've given you the information you're looking for. And thanks so much as always, Dan, for writing in. The next request coming from really two individuals, John C. and someone ESVXM. I'm not sure how to pronounce that. So I won't out there. But the question was a take look at the 30-year and the TLT. So let's go take a look at the 30-year out there because in essence that's going to assist. Now what we do know about the 30-year is that price is pulling back into a key level of support. That's from the daily timeframe. And that level of support, you mark this down in your pad of papers between 122.15 and 123.02. If 122.15, a price closes below that, that would be signaling to you and I that the 30-year treasury is getting ready to target 119.13. 119.13 and 13.30 seconds is where price broke out from. Now if we look at the monthly timeframe chart, we just have a consolidation with inside its profile. Price is above that oscillator and change line. So that's slightly bullish out there. On a weekly timeframe, a TD9 count top is going to complete this week. That suggests a 30-year treasury should pull back to its oscillator and change line. And about the 117 and a small bit of change area out there. Of course that number is going to change. But what you really want to watch there, because those larger timeframes can't come to fruition until we see price close below that 122.15 level out there. Now we take a look at some intraday time periods out here. On a 30-minute basis, other than a potential A to B equal CD panel, let me see if that's out there. Yeah, most certainly is. So the 30-minute timeframe for the 30-year treasury, when it got back to a prior roadsment to indicator bottom, so that level has held out there. And it's also produced by the D point pattern. So the key here with regard to the 30-minute timeframe is whether or not the 30-year treasury is going to be able to close above. Sorry, I'm trying to multitask here. Not a good thing. Close above the top of that profile out there. What is the top of that profile? Let me give you the exact number, because I have to do with these charts here for Ninja Trader. Let me ZBH24. I've got to do the mathematics on it. I'd like to just give you the real number, 120305. So 120305 is the area to be watching there. If the 30-year is able to close above that for a 30-minute timeframe, that's suggesting a further rally out there. That was a 30-minute chart. On a 240-minute timeframe chart out here, I've got a buy the D point pattern that's been tested and it has held. 120-minute chart, roadsment to indicator signal tested and held. There may be a new roadsment to indicator bottom that is patterned. So that is starting to form out there. So this daily bullet-structured profile area is just telling us how strong that level is. And again, if it gets overtaken, get close below that level, then we'll take a look at a 90 swoosh, perhaps, to the downside. So that's what's going on. We take a look at the 30-year treasury. If we go take a look at the TLT charts, and I'll get those populated here in a moment, I've just got to get back up to that area. I can put them in, but we'll do that here live. Just give me a second, if you would. Be so kind. So where are those charts? That'll be about right here. So let me put in the TLT charts out there, TLT. Not that it's going to really provide. The better information is coming from the 30-year. Each of you already know that. But nonetheless, I want to go ahead and give you the, since it was requested, the TLT information, whatever I can provide there, such as support, resistance, and so forth. And so we take a good support here on the daily timeframe. You don't see a bullet-structured profile. You just see a normal. And it's a slightly bullet-structured profile. But you can see in the TLT that support level is at 9702. On a weekly basis, you can see that same TD-9 count. So if 9702 were to fail, presumably what this would be signaling to you and I is to move back to either 90-21 or 9191 out there. 9191 is the current weekly oscillator and change line. Steve Rhodes with TF, then we get back to this break. We take a look at Sulfi for G-Man, C for G-Man, Love for Dano, and anything else that has come in since. We'll be right back. You have to practice, sure. But you also need excellent instruction from experts. At TFNN, you'll get advice and guidance from the authority in technical market analysis. And it's not just dry, tedious text either. TFNN airs live financial content streamed live on TFNN.com and TFNN's YouTube channel with Tiger TV, live every market day from 8.30 a.m. to 4.00 p.m. Eastern. Free! Each host is an experienced trader and gives their take on the market while taking calls and questions live from around the world. From the moment the market opens until the closing bell sounds, Tiger TV has eight different shows with expert hosts to help you make the right moves with your money. Watch online at TFNN.com or on TFNN's YouTube channel and become the investor you were born to be. TFNN, educating investors. TFNN has just launched their new trading room, the Tiger's Den, hosted at Discord. TFNN has been educating traders for more than 20 years with live programming hosted by a variety of professional traders during market hours. And now they are expanding their reach with the Tiger's Den, available to all tigers and tigers for just $1 for the year. There's no cash or added costs when you join our community of traders. In the Tiger's Den, you can look over the shoulders of Tom O'Brien and the other TFNN hosts while they analyze charts during their live Tiger TV programs and join an interactive trading community with hundreds of members exchanging ideas, interact with other tigers and tigers as they share trading ideas, news analysis and discuss the market action all trading day, even at night and on the weekends. The Tiger's Den at Discord is accessible on mobile or tablets as well, so it's always at your reach. To sign up today and become a part of this educational community of traders, just visit the front page of TFNN.com. Don't forget, you can listen to TFNN live on your mobile device 24 hours per day. Go to TFNN.com and hit Watch Tiger TV. That's TFNN.com and hit Watch Tiger TV. Now we got to see a green, the exception being the XLK that's off 19 cents or so, Apple's down a couple bucks and Google's just barely trading lower, so that's what's impacting that. The energy sector's off 60 cents out there. Those are the only two sectors with inside the S&P trading the downside. Now we're taking a look at charts here for SOFI technologies for G-Man inside the Tiger's Den. It's looking for an entry point. So we can see here at G-Man that this developed a Wave Number 7 top. It confirmed that top on December 28th. Then the very next day on December 29th, it confirmed a Roadsman Dominicator top. I did that because it created that Three River Evening Star candle formation. Well, yesterday was a change in trend signal. Why? Because price closed below 948. That was the bottom of its bullish structure daily profile. So now the question is, where is one other area of possible support? The daily timeframe G-Man suggests that it would be at $7.83. That's its titty nine count breakout level. But you know, you and I, when we're taking a look at a market, just like when we're driving, we're just not focused on the car in front of us, or at least I hope we're not. I hope we're looking at the cars on the right and the left and behind us, we're understanding 360 what's going on around you. Because you can certainly do that with the mirrors that you have inside your car if you just simply set them properly. Well, here are my mirrors, right? The mirrors are, we've got daily, weekly, and monthly timeframe. So this gives us a pretty good idea. When price closed below a support level on a daily timeframe, certainly we'll look for the next available support level, but our eyes must shift over to the next upper timeframe. And the next upper timeframe, being the weekly that we take a look at here. So it turns out that on the weekly timeframe, price is pulled back, and it's basically tested the bottom of that profile. Remember, that's the level, this is a bold structured profile as well. That's the level, gee man, that price must close below in order to give us an intermediate term timeframe change in trend. We only have a daily change in trend. Now the actual low so far today, I believe was 717, I'm sorry, 817. The bottom of that profile is 811. Is that close enough? It's close enough for Stevie out there. And it's especially close enough for Stevie because well, now, when we get to a level of support, and we don't see it on the daily timeframe, now we've got to get to those intraday profile, or intraday charts out there. Well, you know, the one that I use to take a look at Nike, it takes quite a while to populate all that stuff. It's why I've shifted down, in essence to this three different timeframes, but I do have a off to the side, I do have a 30 minute, that we can use as kind of like our benchmark intraday. Well, here with regard to SoFi technologies, this confirmed wave number seven bottom, it confirmed that at 1030 this morning, and at 10 a.m., we're looking at a 30 minute timeframe chart, it confirmed a roadspin to indicator bottom. So now we've got price trading with inside this profile. Because price was able to get back above 842, that was both where the bottom and the center was at, odds would favor a G-man that price should go target 869. Now I'm not, I don't know whether this is a bottom or not, but if you were looking for an entry point, if you had some type of conviction there, based upon what I provided to you, it may be. The daily's got that change in trend, but you have to break the weekly support level, and that would be 811. Yeah, and look, if I come tomorrow this close above 865, that would really be another positive because then price would have found support at its weekly oscillator and change line. Now, what else can we be taking a look at inside of SoFi and today's little rally out here? Well, what we could be looking at is nothing more than just a one or two day bounce out there. We can see that this has moved lower for the last four consecutive trading sessions. Not that this hasn't moved lower than more than that because it most certainly has. We can see during time periods here, but when you start making a four day move out there, you typically see some type of bounce and that's what we've got. And this bounce here, if it's real bearish market, it'll last for just two consecutive sessions out there. So that's the bull side and that's the bear side out there. We don't have a clear signal in the daily timeframe, and that's really why we're trying to piecemeal this together. But I do hope you understand that evaluation and that provided you with the information you were looking for out there. So let's go take a look at your next request. See if we can find anything that's maybe a little bit clearer. And now we're going to go take a look at Tickerson. We'll see which is Citi. And if we take a look at Citi Group out here, it's trading at a new highs. Is this a new all-time high? No, not even close to new all-time high. But on a weekly timeframe and a daily timeframe, Citi Group is saying, I may be getting ready to take a snooze. Why? Today is going to become bar number nine. Tomorrow is going to complete the TD9 count top. Now that's a cool thing out there. So this is suggesting that Citi Group should pull back. Where should it pull back to? So the first target, as you can see, when you take a look at that daily timeframe, would most certainly be that green oscillator and change line. And what happens if we get two consecutive closes below that? That tells us we've lost this momentum and that there's been some type of change in character out there. But the first place of support should be that oscillator and change line. We can see a couple of different pullbacks. Here's a TD9 count pattern. Pullbacks really right to the oscillator and change line out there. Now you're looking for an entry point here. Right now, today, on January 4th, I've got to offer a bit of caution to say that entry point. We have to see how these TD9 counts are dealt with on the daily and the weekly timeframe. The monthly is saying, hey, once you're done dealing with that, I'm getting ready to cruise higher out there with a target of 73.72. I'm not saying it's going to get to 73.72. I'm telling you that's what the chart is communicating to you and I. Just like here, the weekly chart is suggesting wants to get to 64.76. Unfortunately, or perhaps maybe fortunately, it's got a TD9 count top. The reason why it could be fortunately out there, G-man, is because if we get a close next week above this week's close, that tells us about a strong upward momentum move and 64.76 would be the number that it would be targeting out there. So that's what I see when I take a look at Citigroup. Is there anything else that I have? When we get to a daily TD9 count top pattern out there, again, that'll complete tomorrow. Let's go back to the intraday charts for signals out here. I do have a rogement and indicator top signal that was confirmed at 11.20 this morning out there. That's for a 10-minute chart. Let's see what the 30-minute chart has to see if this can add anything to us. And the 30-minute chart needs a bearish reversal candle to confirm our top. So I don't think we're really just there, just yet. Perhaps this tomorrow, the rally continues in tomorrow. That would seem logical to me based upon the strength that this has been showing out there. My suggestion is this is going to go ahead and even trade higher tomorrow. We get those TD9 count tops and then we start getting some retracements. We'll have to take a look at the intraday signals and so forth with regard to Citigroup out there. So, gee, man, I hope that helps you out and thanks much for the request. Dan, on the inside of the Tigers, didn't want to take a look at love. He's feeling the love, which is Southwest Air. And I did see some comment, and you're absolutely right, but Southwest Air did a decade ago or so. We had some oil issues, and we had a great job using oil futures, and it was a reason why they were so successful and profitable out there. And apparently they've done the same kind of a thing out here. We take a look at love and see how this is trading. It did close below the bottom of its profile yesterday. Dan, it is still trading below that. That suggests to you and I, after this informed that TD9 count top, that there's a change in trend, and price could be targeting $24.22. But before price targets that, we can see on the weekly timeframe, we can see a weekly top. So perhaps what price is just doing is pulling back the test support because the daily has that change in trend signal. And that level is going to be between $25.77 and $26.25 out there. Now, you also wanted to take a look at the seasonal chart. I'll put that up on our screen here. We'll come back to that because we're going to break here in about four or five minutes. This is 44 years worth of data and how Southwest Airlines Tigers symbol LUV has traded. This shows us we should be in the favorable seasonal cycle, which typically tops out around February 15. But we can't put the U.S. election cycle during those four years how did LUV trade? And this says, geez, LUV might want to head lower. Steve Rhodes with TFNN. 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Distributor, Four Side Fund Services, LLC. This program is brought to you by Vista Gold. Traded on the NYSE American and TSX under the symbol VGZ. Take a look at Southwest Airlines took a symbol there as LUV. We were looking at the seasonal time frame charts before we went to that break. Now, if we take a look at what love has done here it formed that TD-9 count top on December 12th and since then it's pulled back. Now the seasonal chart that we have up here is right now the typical seasonal chart and this shows that love typically forms the top right around December 6th. December 6th versus December 12th or something. So we know that it certainly has fallen among this cycle and it's possible that it wants to still continue to follow along with it. The problem is I don't have a bottoming pattern for the daily time frame to suggest that this is a cycle and the cycle may have shifted again to that election year cycle. So we are getting a bit of a bounce today. Maybe this is suggesting about a bounce up into tomorrow or Monday and then you can see that this is from a from a seasonal standpoint during election year cycles which is only 12 different touch points over the 44 years that we have out here typically this trades lower out there. So I hope that provided you with the information you were looking for out there and thanks so much for the request. The next request, the last request that I've got inside the system as we speak right now is coming from the ESVXM individual and they would like to go ahead and take a look at natural gas. Let's go take a look at the February contract out here that is the active contract and see what it is communicating to you and I. First, the most important chart I believe for natural gas, this is a continuous chart that I put up on the screen is this one and what is this one? This one shows that natural gas confirmed a TD9 count bottom last year. Yep, this is a yearly chart that you and I are looking at out there. Now we do know that that TD9 count bottom can be or is you know can form on the bar following bar number nine. So when you're looking at a yearly chart you got to wait a whole year for that. Not necessarily because you want to go and take a look at the other signals that are going on. But I just wanted to point out to you that we've got a yearly natural gas TD9 count bottom for that continuous contract and that's pretty important now. Let me take a look at the monthly timeframe here. As we take a look at the February contract here for natural gas on a monthly basis there's no kind of bottoming pattern that we have out here. So what's Stevie looking for? What am I watching for? If natural gas is bullish and that the yearly TD9 is going to really take hold, what we should see is a close above last month's high and that's what price is testing as we speak right now. So last month's high out there was at and this is the February contract so we've got the active date out here was up at the 2.801 level. So ESV XM or something along those lines out there that's the first level that I'd be watching for. Can price on a monthly base obviously it's the early part of the month. Can it close above that? How about on the weekly basis? What do we have out here? You know on a weekly basis I'm sure I can find an A to B equal CD pattern to the downside and that says that a couple of weeks ago December 22nd when this generated that bullish hammer candle that that was your buy the D-point pattern. What we have right now we this a weekly chart so the question is where does this close tomorrow not where is it trading right now. But if this was the end of the session out there we'd say we've got a bullish breakout. Why? Because price above the top of its profile and price above the outside and chain sign. The signal information here is that on a weekly basis over time price should go target $3.79 that is its TD-9 account breakdown level. Now what's the daily time frame chart tells us? The daily time frame chart is showing us a price for a TD-9 account bottom. It's it on the bar following bar number nine that was on December 13th and that has now led to a TD-9 account top that's going to confirm today and complete tomorrow. And it's done that as price has gotten up to its TD-9 account breakdown level and that's at $2.81 so short term this is suggesting to you and I that price should begin to pull back either today or Monday. Today or Monday what happened tomorrow. Well tomorrow is still in there but tomorrow is going to complete that pattern but between today and Monday is when we should begin to see a pullback. Now again the cool thing about this pattern here is that after tomorrow's session if on Monday price closes above the high of the pattern whatever that is that tells us about very strong upward momentum move for the daily time frame but otherwise price should pull back and I think if price pulls back all of us should consider taking a long trade there. Now we've got the other intraday charts up here nothing right now that shows any kind of a top other than probably sell the d-point patterns on those intraday time frames out there but I'm just going to leave it like that. Now if we go take a look at the seasonal pattern here for natural gas this is the beauty of a pullback and maybe the pullback takes a week or two out here but let's go find natural gas I think it's one of my natural here we go oh I think this chart's going to oh they fixed it thank god they fixed it okay I think they did let me pull back to 33 years. Ah they didn't fix it shoot okay so what Steve has got to do is I've got to use UNG for this but that's fine for our purposes and what we're going to do this will work just fine I've got to call them and tell them to fix that they've got some bad data somewhere in there now here is a 16 year time period for natural gas via UNG and what we can see here is that typically the real significant bottom during the year now this is just what do we have 16 years worth of data forms right around the early part of February out there so do we have that bottom now or not we're going to have to watch the daily TD 9 count pattern see what that does out there but it's looking to me because of that weekly roads meant to mitigate a bottom signal with that bullish hammer candle a couple weeks ago it's looking to me like we should go ahead and consider that maybe this pattern is going to start confirming a little bit earlier you know maybe a couple of weeks two to four weeks earlier at least that's what I see when I take a look at natural gas so hope that helped out with regard to that review are you aware of a website with the annual returns of hedge funds I I'm not really I'm not I haven't I haven't searched that out but I'm sure if you do an internet suits coder you'll be able to find something like that but I don't have I don't have I don't have that maybe Tom has probably more likely has that through his Bloomberg system and I've got through my little rinky dink type systems here all right let me see if there's any other questions that have come in by email I don't believe there's anything else inside the Tigers and there's not so what else we want to take a look at I think we want to go back to the NASDAQ so what charts is it that Stevie wants to pay attention to out here probably these I don't think we took a look at these and so on the NQ is this it yeah it's so we take a look at the NASDAQ out here you know I don't have the weekly profile up on my screen here I think we did on one of the other systems out there that's because I've got the continuous contract here but with regard to the NASDAQ look we've got the obviously we've got a change in trend signal on the week on the daily time frame with price below the bottom of the profile out there but the real key is will price find support now it's not today's trading it's going to be important it's going to be tomorrow's trading why because on a weekly basis out here price is we've got a TD9 count top and arrangement of indicator top potentially but what price is doing it's testing support now it's trading just slightly below support support as we speak right now at 11 49 would come in at 16 599 we're trading at 16 545 but in a heartbeat price get above that the question is does the NQ tomorrow close above that green oscillator and change line and if it does whoo we're going to definitely have something to think about with regard to those daily change in trend signals because the weekly levels of support will have held so I think we'll take a look at a profile level on one of my other screens out there and which is at where was that Stevie where was that they have it for I didn't have it for the NQ I think I remember where we were looking at that weekly stuff it doesn't matter so this is going to be the key for us to be watching inside the NQ is about that 16 597 level if price closes above that we really do have something to think about Steve Rhodes with TFNN we'll be right back you might think that if you want to be successful at trading in the stock market you're going to need a crystal ball after all it's impossible to predict the future right like any endeavor in life before you decide it's impossible get some advice from the experts you might find that it's not so impossible after all for daily market overviews that give you direction on the key indices selective stocks and commodities subscribe to the opening call newsletter at TFNN.com the opening call newsletter is written by Basil 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your reach to sign up today and become a part of this educational community of traders just visit the front page of TFNN.com Welcome back folks so we talked about how the U.S. dollar index ran into resistance at top of its daily profile both yesterday and today out there the Euro which represents about 58% of that we go take a look at its charts out here now the issue with regard to the Euro where we had the where we had the dollar finding a resistance at top of the profile I don't have a profile level that I can use here on the Euro so in other words to the move yesterday that that find support at a profile level I don't I don't have the answer to that what I can say is that if we did get a close above yesterday's high out there and that's being tested by the way yesterday's size 1.0965 then odds would favor that they rally continues I make a 1.097 if price able to close by 1.097 out there we'd likely get a move up to that oscillator and change sign at about 1.10 if we do that the U.S. dollar will continue to weaken out there from an intraday standpoint why would we say that that's a likely outcome well if we take a look at a 60-minute time frame chart form to TD9 account bottom went ahead and formed a TD9 account top price pulled back and so far it's tested and it has held that oscillator and change line that's slightly bullish it gets really bullish this what you'd be watching Peter usually trades the Euro out there and Peter if you got a close above 1.0972 this will trigger an A to B will see the upside for the 60-minute time frame and that would then suggest that okay on the daily time frame that price wants to go target once the head towards that oscillator and change again that would go ahead and put some weakness into the U.S. dollar index if in fact that happens I don't have anything else out here to suggest that that's not a likely outcome but first price has got to take out that resistance level 1.0972 so that's the key level to be watching inside of the Euro out there and that'll have an impact on the U.S. dollar index a quick peek here at my nine panel try to know you're not looking at it I don't see anything else out here that's worthwhile for us to take a look at so we'll leave it like this continue to watch that spot volatility if it closes back below stays below the 50-day exponential moving average and the 50-day exponential moving average right now is printing out at 1390 1388 and we're trading at 1390 folks have a terrific Thursday I'll see you back here on fantastic Friday be safe out there take care