 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 October 23rd, 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. Let's make sure we have an extraordinary one. Now the easiest way to do that, it's 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, but 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. I'd love to hear from you. 877-927-6648. It's the number to call in on. If you've got a question but you can't call in, you can always send me an email. Now send that off to Steve at TF9.com and inside that little subject cutting place put radio show question. If you're inside our Tigris, then well, then any and every ping will do. So let's go ahead and get this show started on Magnificent Marvelous Monday. Of course, this is Tiger Financial News Network. I'm Steve Rhodes. Welcome to the show. We got a market that is mixed out here. The Dow is maybe about to go positive. It's just slightly negative off seven points. The S&P's up five. NASDAQ 148. Russell's up one. Semi's are up one. Trendy's are up 59. Gold is up five bucks. Silver's up 17 cents. Light's recruiters down 63 pennies. Natural gas is up two pennies. 30 Treasuries up 23 ticks right now. The U.S. dollar index is back 278. Pips as we speak. And so lead the charge. Let's take a look at who's leading the charge. Dollar wise the upside. You got micro strategy. Six point move. Six percent move. I should say 21 point move. Textainer group. 44 percent and 15 bucks the upside. NVIDIA is up nine and change. Broadcoms up six and change. Intuitive surgical about six bucks. So the downside is O'Reilly Automotive. They're the leader in the clubhouse down about 17 bucks. About 2 percent. Revolution medicine is down 42 percent. Must not be solving any kind of revolutions out there. Down nearly 12 buck runies. FMC is down about nine 13 percent. Decker outdoor down six little over 1 percent. Elevance health up one and a half percent to $7 move there. But let's begin by taking. Let's go see what's going on the currency market. Why don't we do that. So let's go flip over to our charts here. Get to these white background charts momentarily. Just get a feel for what's going on inside the U.S. dollar index. Of course we're going to take a look at the components that make up 83 percent of that move. And that's the euro, the yen and the Great British pound. So in the case of the euro, which is a 57.6 percent waiting, you've got a nice TD nine count bottom prices above its oscillator and change line. We're trading above Friday's high. We're trading above Thursday's high. The euro is telling you and I wants to make that move to its TD nine count breakdown level. That's at 1.0673. If it does that, that's going to put pressure to the downside inside the U.S. dollar index. In the case of the yen today, it will complete a TD nine count top as long as price closes above 1.4975 today. So don't know if it will do that, but if it does, we'll have a TD nine count top that confirms today, completes tomorrow. There's already a road to a mitigator top that is still in place out here. Do tops make it better? Nah, not that I found. You just need a top. That's about a 14 percent waiting, by the way. So if this moves lower, that top out there, that will go ahead and put strength into the U.S. dollar index. I'll put weakness, I should say, into the U.S. dollar index. We take a look at the Great British Pound. Great British Pound doesn't really have a bottom out here. That doesn't mean it hasn't bottomed. It means I don't have a bottom pattern. That doesn't mean it hasn't bottomed. What price is doing? Trade of yesterday's hot Friday's high, that is, and Thursday's high. That suggests that this wants to continue to move higher. Now, its price target would be its most recent highs where that bear sash candle formed, and that was back on what the, not October 11th, but that was on the 12th, but the October 11th high is the resistance point. We have a 1.233. So these three currencies are suggesting, well, these two of the three, not too sure just yet about the yen, but the euro and the pound are suggesting strength. That will put weakness inside the U.S. dollar index out there. Now, on the weekly time frames out here, you've got TD9 count bottom in the euro, TD9 count bottom on the pen, on the pound, and you've got a TD9 count top inside the Japanese yen. So we'll keep an eye on these currency pairs because they certainly are going to have an impact on equities as well as metals markets out there. Let's go ahead and close out those charts. What do we want to take a look at next? I'll tell you what we'll look at next. Let's take a look at the daily equity future contract. So we'll pull those up. That's not them, but they'll show up here momentarily. And here's the ES, the NQ, the Dow, and the Russell 2000. Now, in the case of the ES mini, it already has a buy the D point bottom pattern out here. That formed back on October the 4th. That low is at $23.53. That low is still in place. That pattern is still in place as well. Now, if we were to get a bullish reversal candle today, that would confirm a roadsman to indicator bottom. In the case of the NQ, it has a TD9 count bottom. That TD9 count bottom remains in place unless price closed below $14,586. If you get a bullish reversal candle today, not that it doesn't mean anything. It doesn't confirm any kind of a pattern. It's not like it's a reconformation of the TD9 count. That says a TD9 count held as a support level. If we take a look at the Dow, the Dow is in wave number seven right now. Now, that needs a higher or low. The earliest that that could confirm would be tomorrow. It also has a roadsman to indicator signal that's been triggered. That says if we get a bullish reversal candle, that'll confirm a roadsman to indicator bottom. In the case of the Russell 2000, the weak link out here, today is going to become bar number eight of a TD9 count. That says a TD9 count bottom can or should happen between today and Wednesday. This also has a wave number seven pattern. That says tomorrow could confirm that pattern. That would need a higher or low. And there's a roadsman to indicator signal that's been triggered. And therefore, a bullish reversal candle would confirm a bottom there. So we want to keep an eye on those. Those are the equity futures, but let's not stop there. Many people don't pay attention, but you should pay attention to the equity futures and are just simply taking a look at the indices. So what are the indices doing? Well, here are the cash indices, the primary cash indices, the Dow in the upper left. You'll notice in case of the Dow, it's triggered a roadsman to indicator signal. A bullish reversal candle confirms a bottom. It also has a buy the D point pattern that is in place as we speak right now. The S&P 500 also roadsman to indicator signal. In the case of the NDX 100, it's just testing that TD9 count bottom just like the equity future contract is. The Russell 2000 cash indices in bar number eight of a TD9 count should form a TD9 count bottom between today and Wednesday. A bullish reversal candle would also confirm a roadsman to indicator bottom. So look at the semi-conductors, the socks out here. They've got an A to B equal CD to the downside. A bullish reversal candle would confirm a bottom there. Bar number seven forming today. Maybe this goes on to form a TD9 count during this week. Don't know. In the case of the Dow Jones Transports, they need a bullish reversal candle to confirm a roadsman to indicator bottom. Also in bar number seven today, so like the semis, they could come back and form a TD9 count, let's say by Thursday, Friday of this week here. We'll have to come back to that. Nasdaq composite holding its TD9 count bottom. And in the case of the New York Stock Exchange, a bullish reversal candle, even though it shows a hammer right now, doesn't mean it will be like that at the end of the day. But a bullish reversal candle there would confirm a bottom as well. So there's your cash indices, your equity future contracts. We know what to be looking for at day's end. Steve Rhodes with TFNN. We get back to this break. Let's look at Microsoft for Nancy. Bank of America for Duncan Steve, CBM and IBRX for Dan inside the Tiger stand. If you're a fact. Currencies, commodities and bond markets are as important as ever right now with how they're driving the volatility in equity markets across the globe, which is why it's a great time to try out Teddy Kegstad's Tiger Forex report. 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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. The Chapman Wave up-down sequence gives you an edge in identifying price turns, finding the peaks and valleys in stock prices. Get the opening call newsletter by Basil Chapman in your inbox every day. First time subscribers also get a 30 day money back guarantee. If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up. TFNN.com Educating Investors Steve Rhodes started his trading career as a student almost 20 years ago and the student has now become the master. 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The trannies are the ones that are the holdout as we speak right now. We're going to go take a look at some requests that have come in. Let's first start with Nancy's request. Let's take a look at Microsoft. So what Microsoft has is a TD9 count-top on its daily timeframe. That TD9 count-top confirmed on October the 13th out here. And what took place this morning is price pulled back and tested key support. That's the bottom of its profile Nancy. That's a 324-66. So at this stage here, the call would have to be a consolidation with inside its profiles. With support of 324-66 and resistance up at 331-39. We're trading at the bottom of the weekly profile for Microsoft. We closed just slightly below it last week. The monthly timeframe were consolidated with inside their profile. Let's take a quick peek at the 30-minute timeframe chart and see if we can give you some kind of ultra-intra-day signal. You've got a roadsman to indicator bottom. So Nancy got a TD9 count and a roadsman to indicator bottom. Now we both know about this when we take a look at this chart. The TD9 count bottom was the first one to form. When it formed, price first got up to its oscillator and change line. As it should, then price was able to overcome that, got up to its next level of resistance. That was the bottom of its profile. 32885. That's the number for you to keep an eye on. If price can close above on a 30-minute basis, 32885, that's its signal that should go target 331 to 333. That is the barest structured profile of it. A move above 333, you're looking at 335-64. So Nancy, I hope that provided with the information you were looking for from Microsoft. If not, just let me know and we'll get that for you. Let's go on to our next request out here. This one from Duncan Steve inside the Tigers Den, as well, and Duncan wants to take a look at Bank of America. BAC is the ticker symbol. That's what we've got up on our charts right now. And BAC, what do we have here? So Friday was a close below the bottom of its bullish structured profile out there. So that's not a good scene. What we have that's going on right now is prices touching its swing point. That was a swing point that took place on October 6. Now, that swing point generated volume on that day of 58 million shares. We've done 14 million shares in just under two hours of trading. So we'll just take 14 times 3. That's going to get us to about 45. So 45 is going against 58, let's say. So we're basically coming into that swing point with lighter volume, or it appears that we are. So if Bank of America can close above the high of that swing point, the high of the swing point is 26-23. You'll have a test and rejection of a swing point on lighter volume. You know, the expression, if you can't bust it down, you try to bust them up. Well, the problem with bustin' Bank of America to the upside out here is that first you've got resistance at 26-38 or thereabouts, and then you've got real resistance at 26-98. So there's a potential you're going to get a rejection of a swing point on lighter volume that should at least lead to a rally. You've got your resistance points out here. If we look at the weekly timeframe chart, Bank of America has a weekly TD-9 count bottom. A new profile form last week, 2587, resistance up at 29-44. It's slightly bullish in structure. Your centerline is at 27-46. The monthly chart for Bank of America is not looking good. Why? It's below profile levels, bullish in structure. It's below last month's low out there. It's below what you, I wouldn't use that as a swing point necessarily. The swing point would really be this candle right here from October of 2022 out there. So we're below that. So on a monthly basis, for all intents and purposes, there's an A to B equal CD to the downside pattern out here for Bank of America. And that would look something like this, which is simply to give you a quick feel for where that price target might be. Let's just move this over, the A to B point right there. And that says that we could easily get down into the $17 range out there. Now that's longer term. Intermediate, you've got the TD-9 count bottom. That remains a bottom until it fails out there. But watch that daily right now from an intraday stamp. An intram, a shorter term timeframe is really what I should say out there. Stevo, if you stay with inside that swing point, then you don't have any kind of test and rejection. You might be in that swing point with lighter volume, but it would not be a rejection. So, Stevo, now on an intraday basis, just like we did with Nancy, if we take a look at the 30-minute timeframe chart, this just generated as we came on the air at 11 o'clock, a roadsman to indicator bottom. It was that bullish and golfing candle. Now there's a new profile that has formed. And so that was above price. It tells us about overhead supply. That doesn't mean that price can't overtake it, but it's got some issues right at the, about where it's trading into right now, which is at the level of, where's that profile? 26-22. We're trading at 26-18, actually. So watch that level. Price can close about 26-22 on a 30-minute timeframe. Then what you're looking at, Duncan, is moved to 26-35 or 26-42. So that's Bank of America, 30-minute, daily, weekly, and the monthly timeframe. Hope that provides you with the information you were looking for as well. Dan inside the Tiger's Den wants to take a look at CBM out here. So let's pull that up. CBM, I think he said was a high flyer. Well, it's flying high today, and it's confirming a roadsman to indicator bottom. This is sell, sigh, corp out here. Nice big bar, trading right now at about a buck 33. Dan, what it's doing here, and I don't know why, I don't have, I don't know why my system is not picking this up. Let me try and refresh all, reload all historical data. I show this today, getting up to 151. You show the same thing, Dan? It's not showing up on this chart. So that's a bummer. I'd have to go check the setting somehow for CBM. But here's what I do know, is that you've got a nice bull sash candle, no matter how I look at this, and that is confirming a bottom. That's just reconfirming. No, that's not reconfirming anything. See here. On Friday, this actually, this negated roadsman to indicator bottom, but now you're getting a second one. The reason why I was asking about that 152 level is because you've got that TD9 count breakdown resistance at 144, and we're trading above profile. The top of that profile is 127. So this is what I say, Dan, price is going to go tag and retarget that 144 level. If you close above that, this is head up to 175. That's based upon the daily timeframe chart. Let's take a look at the other timeframes out here. Yeah, 151. So I don't know why this isn't picking up. Luckily, Steve has got two sets of eyes out there and two screens that we're taking a look at. On a weekly timeframe, this would confirm a roads, a second roadsman to indicator bottom pattern, and the monthly is not really helping us out a whole lot. So on a weekly timeframe, what we do know is a buck 65 is the next resistance level. And I know you're eyeing that because the price can close above that. What Dan knows, what you know, what I know is when you have a bullet structure profile and you close above the center of that, odds favorite you're going to make move all the way up to the top. So talk about high flying. You're trading at 134 right now and 280 could easily be the price target, even 299 out there. 144 is the next major battle out there and best of luck to you on that. You've got some nice volume today. I don't know what they say, but there are already about 3 million shares. To give you an example, and if I pick out another high volume day, it would be October 6, 500,000 shares. And this is, sorry about that folks, and grooving out there. So that's CVM. Dan had a second request. That was a take look at IBRX. So let's pull those charts up here, get a feel for what they are doing. IBRX, now this chart doesn't look as grand as the prior one that we looked at, but still having a heck of a day out there. This time I'm picking up the actual signals. It's got big volume of 5.8 million shares. Just to give you an example, if I look at another high volume day, it would be September 29, 3.5 million shares. So we're only two hours into trading out here and this thing's got some volume. Now what is it doing on a daily basis? Do I have any kind of bottom signal out there? And the answer is, I do not. I don't have a bottom signal. What I have is prices below resistance or support, and that's the bottom of its profile, 144 out there. Yeah, it's spiked up all the way to the center but this is a bullish structure daily profile, Dan. 162 is where counter trend moves would end. Steve Rhodes with TFN and we come back from this break we're going to finish looking at Immunity Bio Inc. IBRX. We'll be right back for this. Hold report. As a precious metal, gold is still king. It continues to hold the most effective safe haven and hedging properties across the global major trading hubs of the London OTC market, and the Shanghai Gold Exchange. The gold report. 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There's no catch or added costs when you join our community of traders. In the Tigers 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 Tigresses as they share trading ideas, news analysis and discuss the market action all trading day even at night and on the weekends. The Tigers 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 and join our community of traders. Thank you for those requests. Let's go on to our next request. This is coming in from a NITRAAM who wants to take a look at W-E-A-T which would be one way to play wheat and that would be the long way to play wheat. That's an ETF folks that if you are going to trade wheat you need to know what's inside it. W-E-A-T has got the March 2024 contract and it's going to be the long way to play wheat. That's an ETF folks that if you got the March 2024 contract it's got the May 2024 contract and the December 2024 contract out there. That's very important to know and it's about a third, a third, a third it's not exactly a third but you can go to the tech realm website and you can find out exactly what those percentage holdings are. Now in the case of the March 2024 contract really quite frankly in case of all of them December may be being the exception today what you have is nothing more than a little bit of insight as profile levels out there. And so in the case of the March 2024 contract you're looking for price for two days to close above 6-18-33. In the far as the May 2024 contract two consecutive close above 6-35-30 out there and when it comes to December of 2024 we're looking at two consecutive closes above 6-73-90. That's what you need to see in order for wheat because that would then you would be trading above resistance above W E A T the emphasis that it needs with those three contracts moving higher out there so make sure that you're paying attention to the proper contracts here for W E A T I'm certain that you are I want to make sure everybody else that's listening is really doing the same because right now the active contract of wheat is December of 2024 and that's what most people would take a look at but December of 2024 well what's December of 2024 wheat's contract doing we can probably go take a look at it and not not doing anything more than one of our just shared I went to a different screen not doing anything more than that so watch those profile resistance levels right now we're just simply going to call it price trading within support and resistance out there so nice to have a hope that that helps you out let's go on to our next request coming from Kota inside the Tigers Den and Kota wants to take a look at that Tesla and we'll get there momentarily to give me a moment here we'll get back to that screen that set of screens we'll take a look at the daily the weekly the monthly out there and even a 30-minute chart if we take a look at that Tesla out here Tesla is going to form bar number 8 of a TD9 count pattern today so let's open up this chart you've got a TD9 count I'm sorry you've got an A to B equal CD pattern as well but that would finish at much lower price when you say much lower price what do you mean Stevie well let's just draw the A to B point out there notice how I made that line really dark and really thick just to make a little bit easier for each of you that are watching in these shows to be able to pick up the pattern out there now I'm going to move this and try to move this I worked on this all weekend long just simply moving that A to B line out there and here you can see that the A to B the one-to-one price projection is around 191 and change out there but price doesn't have to get down there in order to bottom you just need a TD9 count bottom to form and that could take place between today and Wednesday now it's really about tomorrow's bar that's going to be important 90% of the time when bar 8 is a successful bar meaning the higher low of the pattern it goes on to complete that pattern well if you take a look at the close of bar number 5 it's so far up there it's above 230 something or the actual close tomorrow so price would have to close below 242.68 that seems like a likely outcome never know though so Tesla's got an A to B equal CD you need a bullish reversal candle and lower price but a TD9 count bottom on the daily basis may form as well let's take a look what's going on on a weekly time frame for Tesla not much price ran into a prior swing point that had 556,000 shares and last week was 616 did it close below that level let's see the low was 212.36 the close was 211.99 so this is a confirmed A to B equal CD to the downside on a weekly time frame out there something to think about now let's see that's probably but I'll just make sure that's probably the same A to B equal CD price projection level let's just make sure that again we'll just simply move that over here and yeah sure enough it is so you get both the weekly and the daily A to B equal CD to the downside pattern but still be paying still pay attention to the daily time frame chart because that in fact may take over if we get a confirmed bottom out there price should bounce up towards that 238 level the monthly chart you're inside the profile so once you're inside there where you could go explore further and further to the downside be 165 we're not giving that the call as we speak right now from an inter-day standpoint you know we've seen a little bit of a turnaround in the markets if we take a look at some of these high flying stocks out there the Magnificent 7 you'll see we've already taken a look at a couple of my believe we look at Microsoft well take a look at Tesla on a 30 minute basis this confirmed a roadsman to indicator bottom that's where price stretches itself to one side or the other in this case was stretched to the downside and then it gets confirmed with a bullish reversal candle it took place at 10 30 this morning your inside his profile looks to me like Tesla wants to go target to 1888 now Tesla can close above 2888 on the 30 minute basis do it two times in a row 245 28 would become the target but you've got that big gap down that you need to contend with as well so Tesla that's what I see when I take a look at those charts code I hope that that helps you out you're looking for signals those are the signals you'd like some more signals when we take a look at Palantir PLTR is the ticker symbol out here Palantir would generate a by the D point a Gartley by pattern if it formed a bullish reversal candle today as we speak at 11 36 it's a bullish hammer candle no so what you'd really like if you're trying to get in this position or you're in this position you'd really like trading to stop right now you want them to halt trading inside a Palantir that way you know you've got a bullish reversal candle and a by the D point or a Gartley by pattern if you don't get that well that's what it's waiting for it's waiting for a bullish reversal candle otherwise it continues to head lower now head lower to where head lower be 1423 the bottom of its weekly profile out there now interestingly enough we're seeing this across the border with regard to these 30 minute charts at least everyone that I've been pulling over for each of you Palantir forms a bullish reversal candle at 1030 and confirms a roadsman to indicator bottom it's with inside his profile it is trading above its oscillator and change line so it's going to go target that cell zone yes on a 30 minute basis what we've got for Palantir is a cell zone between 1617 and 1629 if price goes over that 1629 level you can see move up to 1728 so Kota those are the signals we take a look at Palantir out there I hope that provided you with what you were looking for and then finally Kota's last request out there is to take a look at the XLY so as we pull up the XLY charts out here we'll see that you've got wave number seven bottom that needs a higher low tomorrow so the consumer discretionary sector could form a seventh wave bottom there's an A to B equal CD to the downside that needs at least a bullish reversal candle quite frankly lower price I can just visually see that bar number seven today but you've already got a bottom signal that is wave number seven out here the other area that you've got support at 148.58 again to send the consumer discretionary sector that is it's TD9 account breakout area that's its support level that's where price broke out from most recently on a monthly basis you're trading with inside the profile levels there and on a weekly base you're trading below profile support weekly longer term the discretionary sector Kota could be signaling to you tonight once you get back to 144.04 Steve Rhodes with TFN 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 Chapman creator of the trading methodology known as the Chapman Wave the Chapman Wave up down sequence gives you an edge in identifying price turns finding the peaks and valleys in stock prices get the opening call newsletter by Basil Chapman and your inbox every day first time subscribers also get a 30 day money back guarantee if you're not 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back folks thanks so much for the request this always makes the show so much easier for steven to do that was a 17 points S&P 14 Nasdaq 92 Russell's up 5 some as you're up 14 golds off 6 silver zone 23 cents gdx is only down to 6 pennants out there so acting pretty strong we're taking the charts here for we take a look at the apple chart what we can see is that prices pulled back on a daily basis to 9 count breakout level of sport that's 170 82 and that level has held when you pull back to a breakout level it can be a bottom there's no other bottom signal but it can be a bottom if that level fails on there's a swing point that would trade into from the trading day of September 28 there's volume there are 56 million shares the reason why that's important to watch that is because there's a large rate to be taken from cd to downside wouldn't complete until we get into the 163 type area but on a daily base what we know about apple out here this for gman inside the tiger's den is on a daily basis apple pit td9 count breakout support 170 80 170 82 the weekly chart doing the same thing as tested this breakout level 170 42 this will be the second time it's back inside that the bull or structured weekly profile out there so this too could be a bottom with regard to apple on a monthly basis apple is trading above the top of its profile so that is a bullish signal now well we don't have this the first chart on a 30 minute base that we pulled over here we don't have any kind of a bottom a signal we just don't we do have is a profile that is trading into and a cell zone out there for apples 173 50 to 173 94 so I'd watch those areas gman if price able to overcome that that would be a short-term bullish outcome what else do we know about apple apple needs a relief rally needs a plot plot fizz fizz and it's ready for the fizz fizz why is that because apple scored six consecutive down sessions in a row I don't know how far back we have to go to see six consecutive down sessions inside of apple we're going to go back pretty far in any event out there it's just a simple it's just do for relief rally out there and that's what we see taking place inside of apple as we speak so watch that short-term timeframe chart for some further signals whether or not apple is going to rally further out there if it does rally further that's a signal watch 174 90 ish that's its daily oscillator and change line so if that helps you out let's go take a look at POWW POWW is for snowball inside the Tigers then POWW give me a second here I thought I'd put that up here we go POWW is ammo ink POWW baby well if we take a look at ammo ink, ammo ink formed a TD9 count top about three days ago well completed the pattern two days ago what should happen here snowball is price should pull back to test support that first level of support is going to be that oscillator and change line that's at $2.47 out there price gets below that the next area of support is $2.42 if price gets below there it has support in the range of 223 to 229 because that's the structural structure profile level then finally POWW would have ultimate support at $2 that's where it last broke out from I am not at all suggesting that's where price is getting back to why because on a weekly basis price is above resistance it has been above resistance like this weekly profiles for quite some time so last week flows above 237 is a bullish outcome now you want to see price close this week above 237 as well otherwise last week would be a false breakout style type move out there where should price be above resistance well that's a great question because we're above profile levels out here there is an A to B equal CD pattern that we can draw in so let's draw this in here A to B would be look like this we're just simply going to go ahead and now that that swing point also the volume there which was June 16 9.3 million shares last week 5.7 nonetheless you still have an A to B equal CD to the upside that one to one price projection out here looks like it's about 99-ish type level out there so first it looks like what ammo wants to do is pull back and test 247 if that holds that's a bullish outcome that you're looking for snowball and that would then resume and suggest to move up towards that $3 area it's A to B equal CD price projection level from its weekly time frame chart so that provided with the information you were looking for as well our next request coming in from Nicholas who wants to take a look at Google he bought a nice call position this morning so good for you if you got a bullish reversal candle today you would generate or this would generate a Gartley buy pattern what do you mean Stevie well it had a TD9 count top out there we can each see that let's draw on the A to B point out here and let's just move that A to B over to the C point now the reality is is that it looks like that retracement is so close that it's hard for me to really call that an A to B equal CD as it was more than a 0.786 retracement out there so let's just take a look at Google what does Nicholas need to be watching for well the first thing is the battle and that battle is going to be at the well maybe it's undergoing that battle right now which is the bottom of its daily profile on the bottom of that profile Nicholas is up at the yeah it has tested at $137.91 so $137.91 is that battle if price can close above that then you're back inside the profile it says that Friday's close below it was a false move to the downside and then we could likely see price get back up to $139.69 that's the center of this profile and about where the oscillator and change line would be if in fact price wants to move up there so first watch that profile level that's your first area of resistance on this nice trade that you've got $137.91 on a weekly basis everything looks pretty good I say it looks pretty good except that it formed a sell the D point pattern so maybe not so good it's got a sell pattern with price consulting with inside its profile that ranges from $128.29 that's at the sport level $138.64 as resistance TD9 count top is potential to form within the next few months out there you're in bar number eight right now but you've got to really wait we're talking another five to nine ish weeks out there 10 weeks before we get that confirmation so on a daily basis at the bottom of that daily profile on Friday you want to see it get back in there that's $137.91 if I look at a 30 minute time frame chart for you for Google let's see what it provided us at the open this morning price moved lower it generated a wave number C a wave number G bottom that's wave seven it also confirmed a Rhodes momentum indicator bottom now its level of resistance its battleground is $138.02 you get two 30 minute closes above that $140.53 the price target for Google for its 30 minute time frame so Nicholas as always thanks so much for writing in and you have a marvelous Monday we've got a request from Joe he wants to take this question is where's the next high in TQQQ so we pull up a TQQQ charts but the answer is I don't have a clue the reason I have a clue is I wouldn't look at TQQQ to figure out where the next high is what I would do is I'd use the underlying instrument here Joe and that would definitely be the NQ to give an idea where is it that TQQQ could head to if in fact you're going to see a rally up and if I just use these charts I would say $3,606 is is an area this has got a TD9 bottom just like the NQ does out there and so price should then target that level was tested rejected this morning price should target that oscillator change line $3,606 that's a resistance level the price can overcome that your next resistance be $3,667 and then the ultimate battle would be at $3,779 that's the center of its bowler structure profile that price close below for more than two consecutive sessions we're going to move away from these charts and just simply go and take a look at those NQ charts now on that daily time frame you're definitely watching the bottom of that TD9 count out there and so if you see a close below $14,586 you don't want to be in TQQQ you want to be in the SQQQQ or something along those lines five-hour time frame chart yeah maybe an A to B equal CD to the downside the big pattern is on the four-hour chart the four-hour chart has got a nice TD9 count bottom that suggests move to $14,790,50 and above that $14,887 Steve Rhodes with TFNN we'll be right back currencies, commodities and bond markets are as important as ever right now with how they're driving the volatility in equity markets across the globe which is why it's a great time to try out Teddy Kegstad's Tiger Forex report Teddy Kegstad breaks down the forex markets every Monday using his 30-plus years of experience as a trading veteran of futures, forex, stocks and options Teddy releases his weekly Tiger Forex report every Monday morning with coverage of all the major currency pairs including 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