 The following is a presentation of TFNN The Trader's Edge with Steve Rhodes All now toll free at 1-877-927-6648 or internationally at 727-873-7618 The Trader's Edge now Steve Rhodes Good afternoon folks welcome to the December 23rd the wonderful Wednesday 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 and 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 ship well it means we can find the gift in every set of circumstance 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 just past one o'clock in the afternoon I do want you to know I'm absolutely grateful for your presence here but more important than that that's this during this next 60 minutes I'm here to serve you so feel free to pick up that phone you can dial on in at 877-927-6648 if you can't dial in hey we've got you covered there too go ahead send me an email sir excuse me send it to Steve at tfnn.com and inside the subject heading please put radio show question of course in our tiger's den well any in every ping we'll do so let's go ahead and check out these markets out here of course uh well let's let's just simply go to it right now so right now we've got all of the usnc's trading to the upside we got a green board the dow is up to 221 the s and p 37 nasdaq 132 russell 16 semis 19 27 so they're flat new york stock exchange is up that they're all up here the spotball tilting excel it's one thing to paint attention to trade right now at 1942 I believe the 50 day expense moving average around 2045 so a buck below that watch the 2045 level close below 2045 today increases the odds that the rally continues tomorrow and that it targets the top of its profile levels we'll take a look at those here momentarily gold is up 11 bucks it's trying to take on resistance I believe that's an 1802 20 it's trading right now to 1800 point 60 so that's a level you're certainly going to want to watch silver is trying to get up to resistance quite a bit higher than where it's trading right now 2277 lead the charge dollar wise the upside you've got tesla about 60 bucks google 49 booking holdings 28 icon plc 15 service now about 15 to the downside and it's a big it's a big schnooker uh 88 percent 74 bucker runes on ticker symbol al lk alakos ink obviously a bad result or something moderna is down 19 bucks seven percent biontech is off 5 percent of 13 centos down 12 al nylon pharmaceuticals off 9 bucks as well so we have plenty to look at of course i only want to look at what you want to look at for us go ahead and get a couple of these things um out of uh out of the way right now the first one coming in from tim i believe tim and i might have looked at this symbol yesterday which is up st and his question rightly so is has this bottomed yet so even i'm not going to show the white background charts that don't need to out here i mean it has a rogement indicator signal just hasn't been confirmed we don't have a bullish reversal candle yet but this may just be and not every single one of the patterns that i use will identify a bottom it's just when those patterns are present it just improves the odds doesn't guarantee anything but what we can learn from this tim is if we take a look at yesterday's action it stopped right where it should have if this was just a countertrend rally and that's the power of these profiles now it's not just the power of the profiles is understanding the makeup of the profile in this case here it was a bullish structured profile there's three lines or typically three lines not always three lines there's always a bottom and a top sometimes that center is at the bottom in this case here it's closer to the bottom than is to the top and that's why we call it a bullish structured profile because there's buyers and sellers at the center 150 24 there's only buyers in essence and theoretically at the 144 level 144 level that is the bottom of the profile 166 82 is the top now when we get two consecutive closes below a bullish structured profile and here we had three consecutive closes below that that tells us that a counter trend move should find resistance at that center line centerline 150 24 the high today 150 82 trade net 145 10 so the answer is no we don't have a bottom now what you'd like to see this do today maybe close about where it is right at the bottom of that profile get some type of bullish reversal candle tomorrow to confirm the roads mitigator signal and then you're off to the races now look the races on this are just going to get you up to 166 82 if price can close above that then we have a change in trend signal we go back to the charts take a look at it but right now as much as you saw yesterday's candle perhaps and you're like hey shoot Stevie missed the bottom here pay attention to that bear a structured profile now I have no idea what price is going to do from this point forward if price did close above 150 24 then you should see a run to 166 82 and maybe it's a bottom it's just not one of those Stevie bottoms which I think is what you were writing in for so hope that helps you I hope that helps everybody out with regard to understanding the bullish and bearish structured profiles because they are really helpful to us the next question coming in from Dan and the Tigers anyone take a ticker symbol ptr a and let's get that fired up here and ptr a is pro terra ink so in the case of pro terra ink this is trading below the bottom of its daily profile now it looks like this is one of those profiles we get rid of this consolidation pattern or whatever we had out there get rid of that okay so here you've got a profile where both the bottom and center are the exact same price that's at 906 so and that's a significant resistance level so we'll take a look at the white background charts but just so you let you know this rally it's a 887 right now may find resistance at that bottom of the profile that is where sellers are sitting I mean there's buyers but it's price is going to need to close above 906 to suggest something otherwise now if you look at the weekly set of profiles out here that was a bullish structured weekly profile it's going to be week number three below it so a real counter trend rally in this should get us up to the 983 level so that's would be the kind of maker break area as to whether or not this thing has turned bullish or not let's go see if there's any kind of a bottoming pattern or signal associated with this from yesterday's move and as we take a look at the daily time frame let's populate it it'll help us the answer is no so today may form bar number nine of a TD nine count Dan but it's bar number seven has got the low we really need bars eight nine the bar following on which could be tomorrow that has at least a spike at least the low of the pattern out here you've got the oscillator and change line that's near the 906 level as well so that would be an area to watch your price test and rejects that level and closes back below 906 that would suggest that you know we go back and retarget those lows if price can close above the oscillator and change sign then you're looking at that 971 move but really we know that from an intermediate term time frame it's a 983 level out there that you would be watching so what I hope that helps you out with regard to what that this instrument is doing PTR a just looking to see if there's anything else out here not really much else that I can assist you with so I hope that that helps you out Dan and thanks so much for the question so we got a break that's coming up here shortly like in about 15 seconds or so usually I kind of just talk right through those things so in the next 15 seconds what are we going to look at that so I did mention during the break not during the break but during the update out there that the NQ formed a brand new daily profile wasn't on my screen when we were together yesterday or if it was I was blind to it but I did pick up pick up on it last night and right now price is above the top of that profile top of that profile is 16071 you get a close above 16071 price is going to go target that descending trend line in about the 1636325 type area Steve Rhodes with TFNN we'll be right back Steve Rhodes started his trading career as a student almost 20 years ago and the student has now become the master Steve won the prestigious timer of the year award in 2018 and barely missed that mark again in 2019 finishing at number two for the year an amazing accomplishment Steve Rhodes is committed to sharing his techniques and knowledge with anyone who wants to learn and he shares his vast amount of trading knowledge every day in his mastering probability newsletter Steve's award-winning newsletter mastering probability is delivered every trading day with updates throughout the afternoon sign up for Steve's market newsletter mastering probability and you'll receive access to seven of Steve's educational webinars absolutely free at TFNN all our newsletters come with a 30-day money back guarantee so you have absolutely nothing to worry about visit TFNN.com and try mastering probability 30 days risk-free today TFNN educating investors what's separating you from the most successful men and women on Wall Street that's right information having all the information gives us the perspective we need to place the right trades at the right time the TAS profile scanner is the premier market profile based scanner powered by its acclaimed TAS proprietary algorithms this feature rich scanner instantly filters over 2,500 plus global financial markets such as stocks ETFs commodities futures and forex this powerful suite of tools leverages instant trade filtering and strategy formulation to show you emerging trades before they happen for a limited time you can save $100 off your first month by using the promo code upgrade and you still get a 30-day money back guarantee so you have nothing to risk level the playing field with the TAS profile scanner which you can find under the services tab at TFNN.com sign up today sharpening your skills as an investor is like getting better at playing a musical instrument you have to practice sure but you also need excellent instruction from experts at TFNN you'll get advice and guidance from the authority and 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 p.m. Eastern for 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 call now toll free at 1-877-927-6648 internationally at 727-873-7618 welcome back so the cool thing about the bullish and bearish structured profiles out there it doesn't matter what time frame it is is that in a bullish structured profile much like what you're looking at inside the NQ that's panel number two from the left when price closes above the center it really increases the odds that price is going to be able to make its way up to the top of the profile in fact that's exactly what has happened here in the NQ but price is trading above that so right now 1-18 in the afternoon resistance is whole as a failing don't know what it's going to look like at the end of the day but if price does close above that that's an additional bullish message from a trend line standpoint or retracement level it's all about the same area in that 16-300 plus range out there so that's what we would expect that price would head to unless price closes underneath 16-071 if it rejects that level when I take a look at the other intraday charts see what we can figure out here you know the profile they're really helpful to us so as an example yesterday I just happened to see this on my screen out here so it just helps to for you to see example after example after example but this is a trade that Ronan Denver was in he had I believe he had some call options and yesterday the question was should he stay sell add what you know whatever the option were and I suggested at that stage that if it were me that I would be selling those options and that was because number one we knew that there was significant resistance at the 30-88 level price already tested that area price was moving into that swing point with lighter volume yesterday I don't know what the end of day volume was and price was right at the top of that daily profile no intercession today probably at about 930 to 10 Ron was cussing at me saying ah geez oh I think you only sold two of them but stevo was wrong however we did say that look there's going to be resistance at 30-88 no idea whether we'll clear that but here you can see how that 30-03 level in fact has acted as resistance so we these profiles really help us to identify it's not a random level where the buyers and sellers are doesn't tell us whether they'll hold or not but is very helpful to you and I explain in understanding what the market is communicating to you and I so we jump all the way over to the right hand panel that's Russell 2000 the Russell 2000 right now it's like the NQ is trading above the top of its daily profile 2212 no bullish markets you typically will have the NQ and the Russell out in front and that's a that's a nice bullish I'm just talking about bullish signal a short-term time periods or what have you but just the message that is coming from both of those so those of you thinking of now is a time to jump on the short side I would say then you're ignoring the profiles and if you see a Russell 2000 equity future contract close above 2212 the NQ close above 16071 then I really don't see that message out there we'd have to go figure out it doesn't mean that my message is correct or anything it's just from a I'm narrating these charts so much of what I'm sharing with you is really not my opinion there there are some information here that I'm able to share with you that you can gleam out of profiles after looking at them for so long such those bullish and bearish structured profiles out there and you get the opportunity to see how that works now if we take a look at the ESMini and the Dow they're trading in they're trading above the center of their profiles and should then target the top of the profile now speaking for the ESMini not that I'm the spokesperson for the S&P 500 but we do know that the spot volatility is below its 50-day exponential moving average that means the wind should be at the back of the S&P 500 for the bulls to push price higher and more likely than not the real target is 4733 so if you're asking Stevie where is it that I'm looking to put on a short trade inside the markets right now I'd have to say it's a 4733 level we're only trading at 4673 right now so that's another 50 points or so I believe to the to the upside the Russell 2000 it has a bullish structured weekly profile of tomorrow's close is above 2208 but really we want to see it close above 2301 the top of the daily profile that suggests they move all the way up to 2314 2314 is the top of its profile the Dow is likely going to target the 35741 to 35808 that's the resistance zone for the Dow so those are your four equity future contracts the profiles new and old out here and what they're communicating to you and I at 122 in the afternoon now let's take a look at a couple of requests that have come in one was to take a look at Crowdstrike CRWD is the ticker symbol the question is has this bottom so let's pull over the white background charts out here and see if we can answer that question well if the charts can answer that question actually if I open up this screen right here which I've done I'd ask y'all take just a moment pause here to get a sip of water you tell me when you look at this chart with regard to the patterns that you and I share each and every day has this bottom has this provided us with a bottom signal for the daily timeframe okay here's the pause okay now you know me I don't give you a whole lot of time there on the pause but I'm sure most of you said absolutely stevo this formed with a TD9 count bottom and it does it on the trading session the bar following bar number nine it does it on December 6 and then price runs right up to that oscillator and change line is that amazing or what I think it is I mean I'm always just kind of like wow how does that work and I don't know how it works I just know that it works and I know that I needed to develop something when price was especially for long well whether you're long or short I'll just right now talk about being long the market and you started to see the market pull back ever get those nerves or what have you okay is this it and so the oscillator and change line really helps me to understand what the market is communicating to us out here so being above that is a positive but running right up to a red oscillator and change line as it did on the trade day of December night and then backing up not unusual where does it back off to into the bullish structured area of that bullish structure daily profile as it's doing that it starts triggering these roads meant to indicator signals now the trading day of December 13th was a doji candle and so doji candles are really easy to either generate a bullish or bearish reversal candle in this case here was a bullish reversal candle it just needed the body of the following day which was the 14th to wrap around that doji candle but nonetheless doesn't matter that is a confirmed rogement to indicator bottom so s&p you have two bottoming signals out here now prices struggling at the resistance level at 207 86 the top of its daily profile you know steve's got this two bar rule out here because a one bar move above resistance is just a knee jerk type reaction one bar below the bottom of a daily profile is just a one bar knee jerk reaction so we don't want knee jerk reactions we want real reactions out here and what takes place on the very following session December the 16th price gets back below it yesterday or two days ago you test their top of the profile closed below yesterday you close above it today you're down below that level so i don't know where this has had to be we'll take a look at a short term time frame chart for you but to answer your first question and your only question well you're looking at the crowd for an entry so it's going to be between where we're at right now and i'd say 197 and change or 199 56 the center of that profile let's go look at some intraday charts let's look at a 30 minute time frame just see if there's any kind of signal out here that we can glean so it has a td9 count top price below the bottom of the current profile below the oscillator and change line so another level for you to look at is going to be 203 45 i don't know whether price will get back there or not i don't have volumes up here to see how the 30 minute bar is moving into that 30 minute bar back here that were where my cursor's at but 203 45 200 even steven those would be a couple areas maybe build a position here um if i look at the 65 minute chart a td9 count that's led to a sideways move for the most part the 130 minute chart i don't have much other than 203 is a potential level of support the 195 nothing out here as well so you're in the zone uh look the average true range on this and that's really important so the average range on this instrument is 12 dollars and 22 cents your stop should be 12 dollars and 22 cents times 1.618 i don't know what that comes to but i'm gonna guess 19 18 dollars below where we're trading right now so say 20 bucks below 205 that gets you down to what um 185 which is below the bottom of the profile so use that use proper position sizing steve roach with tfnn will be right back are you having fun trading the markets but having trouble finding like-minded individuals to discuss your trading and investment ideas with become an apex predator in the trading markets and join the tiger's den trading room only at tfnn.com the tiger's den is an exclusive trading room where successful traders from around the world come to exchange trades and ideas join the den and surround 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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 seventy nine dollars 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 being green across the board dow 229 s and p33 nasdaq 104 to the upside let's go to our next question out here this one is coming in from tom c uh actually kk no problem so uh the question is what are your charts for our daily really what do you think is the best time frame for s l y g which is the small cap 600 growth so the question is what the charts communicate to us okay so the very first thing that the charts communicate to me uh kk is that price is trading right into resistance so when i say right into resistance the top of the daily profile to say bear a structured profile is between 90.03 and 90.103 now if you can get a close above 90.103 to a consecutive close above that that would be a bullish signal for you but right now you're trading to that level resistance and on a monthly basis it's at 90.79 and for the last three months we'll call this the fourth month out here price has tried to take out that 90.79 level and has not been able to do that if you did get a close above this that would be next friday i think uh no next thursday i believe the market is closed is the market closed next week i don't even know if it is um because it's usually open on new year's eve i don't think they move new year's eve to a new year's date of new year's eve for the i don't know somebody out but even next week whenever the month ends out here if price closes back below 90.79 jeez louise out there why can't it take that out don't think so close on friday this week no this week i know it's closed on friday but next week i don't think it's closed um but i haven't looked that up but i just it was mentally going through the gyrations in my mind it don't seem to treat uh new year's eve or new year's day um that with that with a lot of emphasis yeah so they're saying no so new year's new year's day is off it just happens to be on a saturday is that the deal yeah this is the deal so let's pull over the s l y g charts additional charts see if there's any other information so here's the conflict so to speak if there is a conflict this did form a nice erodesment of indicator bottom three days ago does with a nice hammer candle you then get followed through on the next day with that gap to the upside you're trading up into resistance so um if you're in this trade just know you're coming up to resistance i don't see a reason to jettison the position on a weekly basis we're just kind of consolidating sideways out here uh maybe price going to go target so it's really the daily time frame that i don't have the interday charts to put up here it's not really going to matter out here because when we take a look at that daily and monthly out here k k that's really where all the information so if you were looking to get into this then you'd want to buy a retracement that retracement i would say then would be about 89 61 that would be its oscillator and change line that would be a level in 88 22 would be an area so that's what i would do if you're looking at this again i don't see because that nice bottom on the daily time frame i don't see a reason necessary and with price being above the top of the weekly profile i don't see a reason that jettison is positioned just yet but certainly do keep a uh a tight stop on this you know what you can't bust them to the upside sometimes what markets will do is try to bust them to the downside this instrument here could be back where the gap was at it could be at that 88 22 level so k k i hope that helps you out thanks much for writing in the next question and only question that i have left here so far is coming from eddie and mary christmas to you as well so eddie says uh i wish the best uh for your christmas season also but what eddie wants to look at is amat and arcb and he said if we have time for his stocking stuff or his favorite which is n vidya so let's go see if uh steve clause can deliver for edwardo so amat let's get that up on our screen out here well he wants three of them let me see if we can do this maybe a little more efficiently um we could if i if i could get my act together so let me do amat on the white background charts this will populate here pretty quickly it should really give us all the information that we want that way uh you know i don't know if i need to fill time uh because it's the last question with three or maybe some of you out there that are listening will help me out and send me a request uh more inside the tiger's den but when we take a look at amat out here price trading right up into resistance that's it's a green oscillator and changeline uh that's at 151 and change out here your 150 oh spend 150 106 the next resistant level would be 152 52 and then you've got your bare structured uh profile level 155 30 out here don't have a bottom pattern really see just a sideways consolidation and price needs to kind of clear these resistance are your battles inside of amat 151 30 or so 152 52 155 30 that's the daily time frame chart the weekly time frame chart shows what shows a confirmed rogement of indicator bottom the price holding in the top of its daily profile but not yet being able to take out the green oscillator and changeline so really kind of a neutral signal for the weekly monthly time frame chart says i don't know what you guys are talking about i will still look pretty strong and it does it's held that green oscillator and changeline but it's really the daily time frame i think that you're taking a look at and so just a sideways consolidation out here eddy is what i see when we take a look at ticker symbol amat the next request was for arcb i believe that was so let's pull this set of charts over and on its daily time frame this too is running right into resistance that's its oscillator and changeline now it has not been able to close above it's been tested several times like three times in the last couple of weeks out here so that's been resistance it's trading into a bearish structure daily profile resistance level 109 51 that's the level you really need to see price close above to suggest to move back to its highs from back in the november time frame the monthly chart for arcb says what td9 count top is really similar similar to amat so there's the actually slightly different than amat because on a weekly time frame even though you got a td9 count price above the top of the weekly profile and the green oscillator and changeline which is printed 106 20 that tells me we are neutral to bullish so that's what that signal tells us and in the monthly time frame it just says hey stevo i'm flat out bullish out there so bullish on the weekly bullish to neutral i'm bullish on the monthly bullish to neutral on the weekly in the daily it's a uh it's just a little sideways just type of movement out here on arcb and that's in between its daily profiles from 100.53 up to the 109 51 level looks like we've got time for that stocking stuffer out there and as we go to that that's going to be nvidia so don't belabor this because we take a look at this often out here what nvidia is likely doing is targeting what targeting the bearish structure daily profile and green oscillator and changeline that says around 30369 to 30889 should be the target for where the rally should end but if you do get it closed above two could close about 30889 eddie then that says we head back to the highs on a weekly time it was a daily time frame the weekly time frame says i need to clear 30406 to get back to my merry ways to the upside so that's what the stocking stuffer for nvidia shares with us so eddie thanks again for those uh wishes and the best to you and your family as well uh let me see if we've got any other requests here or we do we've got two so one came in on the tiger's den we'll go to that one first and uh that is a take look at tick symbol f a n g the old fang so fang is uh what fang is we're going to get the black background charts going here too and we take a look at the diamond back energy trading inside its daily profile trading outside above the top of the weekly above the top of the monthly so all that looks good so really we need to investigate what is the daily time frame chart telling us with regard to diamond back energy so so so what this is telling us out here this is for s n p you can see price on a daily basis trading in resistance green oscillator and changeline and above that the bearish structured daily profile that's in between the 107 96 to 111 55 area out here now we don't have two consecutive close to below the bottom of this profile or anything along those lines but uh it's trading into resistance we get back to this break we'll finish looking at diamond back energy for s n p in the tiger's den are you in the market for buying or selling real estate in the bay area including the surrounding st 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 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designed to be utilized only by sophisticated investors such as traders and active investors distributor four-side fund services LLC don't forget you can listen to tfnn live on your mobile device 24 hours per day go to tfnn.com then hit watch tiger tv that's tfnn.com then hit watch tiger tv so we left off taking a look at diamondback energy that is fang and i went to the monthly i'm going to the monthly time frame first we're going to kind of do this in reverse order so as we look at the monthly time frame we could see a nice td9 count bottom that took place back in march of 2020 and then there's a td9 count top that took place in july of 2021 that led to a pull back to pull back to test the bottom of the profile the oscillator and change line and it resumed its way and a couple months ago the month of october closed above a key level of resistance 105 95 the breakdown resistance level now when this was moving lower back on the trading week or the month of december 2019 the oscillator and change line change colors typically when it changes colors over time we see price netline catch up to each other it gave us that bearish test back in january of 2021 price got up to that level and then moved lower out there so now we can see that the oscillator and change line here has changed colors s and p so this just says that over a piece or even though i've got a bullish signal on the monthly time frame by closing by taking out and negating the td9 count it did that in the month of october but that also didn't change on his change colors so we're on monthly time frame we could take a few months for this to unfold but maybe we just have more of a sideways-ish type move out here until that takes place not a guarantee when i look at the weekly chart now we've got a td9 count top we have a roadsman to mindicator top price below the oscillator and change line out there um so that says okay maybe we're going to do a little bit of sideways move it maybe lower out here and in the daily time frame no real good clear signals out here the price is failing at resistance so what's the overall take from a fang out here i'd say that monthly chart may be driving things so you'd have to pay attention to that keep an eye on that out there and it looks like we should see sideways to lower movement before we get that test of that monthly oscillator and change line and then we get the real intent on what diamondback energy wants to do let's go out to fort collins colorado and speak with mark thanks for calling thanks for holding happy holidays to you you too thank you very much and draft kings i believe is what we're going to look at df dkn g out there tell everyone what you're doing and how i could best help you um i bought in um when it withheld the 27 48 to 52 area so i'm in it almost exactly 2750 okay and i'm wondering what your thoughts are we've been pretty well earlier today it's backed off a little bit um the volume seems to be decent and uh i'm looking forward to get to the next swing which is um in the 33 93 area but let me know what your thoughts are yeah okay so diamond uh draft kings definitely bottomed i've been following this i was in a trade on this and got stopped out at one point in time so myself i am watching draft kings so it bottomed i know a pull over the white background chart you'll be able to see that it was rose meant to mitigate her bottom that formed on december 17th so definitely has a bottom the issue with draft kings is mark on the trading day of december 13th we closed below the bottom of its bull structure profile and we've been below that all the way up through yesterday so what we don't know what you and i don't know what we do know is that if this is just a countertrend rally the resistance level is going to be at the center of that profile 31 11 so that's the area for you to keep watching out there so any questions about that so far no okay if price gate above that the swing point that you're looking at happens be the top of the profile so that would be 33 84 so i imagine as prices moving into that you'll watch the volume 12 8 swing point was 14 million shares um yesterday you're moving higher with 14 million shares today you're at nine so it's got some good volume considering it is uh you know the day before christmas eve out here but that doesn't matter the question is is this just a countertrend rally or is this a bottom and so the real battle is at 31 11 let me pull over the white background charts see if there's any other information that we can gleam out here the reason i moved to those charts now folks is because we want to look at the weekly chart because weekly could confirm a buy the d-point so you'd like to have two nice bottoms out there we're not we don't have any profiles to check on for the weekly or the monthly so we just have to rely upon the daily so as we open up the daily here you can see you've got wave number seven erodesment to indicator bottom you got everything that you need there and uh so close about 31 11 would be a would be a positive outcome for you with regard to the weekly time frame chart we don't have a bullish reversal candle yet but maybe we get that tomorrow and that would confirm an a to b equal c d the downside and the mark that would tell you resistance is approximately 36 72 the oscillator and changeline because the profiles here are way above that they're 49 18 where they begin any questions about the weekly chart i know if that makes sense thanks okay so intraday uh what do we have out here just looking if there's anything of significance um the uh i like to use a 65-minute chart but i've just got the 60 for this it formed a td9 count top and prices move sideways i would say a price were to close below 29 37 then this would suggest that it would move back to 27 73 that's where price broke out from don't know whether it will or won't but that would be the area that i would be watching the 120-minute chart i've got nothing 240 i've got nothing so yeah that's about so i really comes down to to the daily in my opinion that's at 31 11 area and if price can get through that that will be a positive doesn't mean that's a guarantee but that'll be a positive and then you've got your next battle at 33 84 and then above that mark it would be 41 27 that's the td9 breakdown level for draft kings for the daily time frame is there anything else that i can help you out with you know um if you don't mind i'd like to ask you a question about the current position in the newsletter without giving it away sure i'm looking at rivn okay and let me just show you tell you what i i i looked at when when i first looked at the chart and to me it looks like um it's broken a swing on the downside with volume um potentially abc down to the 44 level what do you think about that because i'm looking at the high of 11 16 2021 and the low of 12 oh three or oh four looks like oh three which is a hundred dollars that's like 79 points yep yep yep and then you have a high i think on 1208 at 123 40 and then so you broke that 100 swing and that that had 19 million and you broke it with 29 million yes well 17 so why isn't you know i'm not going to say anything about our trade it's okay yeah i'm not in it yet because of this so i want to ask you about that no that would bring it so that is absolutely that sure so that is absolutely a potential pattern here for a rivian uh automotive rivn is the ticker symbol and so that is a valid pattern that is in place out there so it's a valid pattern but the question is is it doing anything at these lows is it giving us any kind of a bottom signal now could just be a counter trend rally so we take a look at this our i begin well first thing uh as long as you're asking about this one of the reasons that i'm interested in this trade there are a couple of reasons but one of them is the volume that it has back in november 16 now what mark is saying is hey steve maybe this is going to get down to 43 93 which would be a nicer buy than where we're at right now and then move up to that 179 level so definitely a possibility but what has gotten in the way of that move at least at this stage here is another rosement and indicator bottom that was confirmed yesterday with that bull sash candle so um that's the reason to can so it's it's trying to form a bottom whether it will or won't you know that's something that you and i are going to explore over time so what i would do is if there was a close below the low from two days ago the low of this pattern on our stop would be as well below that i would go ahead and exit that position and wait for another setup but yes that a to b equal cd pattern is there my experience has been that uh just because there's an a to b equal cd pattern doesn't mean that it will complete and therefore you've got to look to see what else is going on presently does that kind of make sense yeah and the other thing i was kind of watching is you know looks like the day that at ipo the low is 95 20 um and so for me i'd like to see a close back inside that and and me too yeah me too and it did that yesterday and right now it's trading out 94 87 but hey you're walking me i hang on through this a breakout here but i'm sorry to cut you off we're gonna that's all that's all i needed i just wanted to do that merry christmas mark sharpening your skills as an investor is like getting better at playing a musical instrument you have to practice sure but you also need excellent instruction from experts at tfnn you'll get advice and guidance from the authority and 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 p.m eastern for 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 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i would say it's pretty equally balanced on the daily prices above the top of that profile 51 27 it's also lights we crude is trading above the top of its profile now the weekly profile uh is forming this week the bottom is at 53 68 and the actual centers at 56 18 to the top of 58 69 this profile formed above price that's typically a bearish message uh because it tells us about overhead supply so the level to be watched near would be 53 68 maybe because we've got this breakout in the daily time frame that's where price is targeting the 53 68 level so that's what the profile and on a monthly basis price is above the top of the monthly profile so we've got about 30 seconds any any other question where i can provide you with the information you're looking for can you provide that same information for s lv i can so uh your your request is my demand out here so we take a look at s lv it's populated right now in the case of s lv the top of the profile this is a bullish structured profile this is say a close above 21 16 would suggest a run to 21 93 you're inside pretty equally balanced weekly profile the bottom of 20 47 the center where it's traded into which is 21 11 and the top is at 21 76 a bullish structured monthly profile was supported 1912 in resistance at 27 39 robert we're going to have to end it here just because we're out of time but happy holidays to you and your family thanks for the call much appreciated and best of luck with what you're doing inside of us oh folks stay tuned for a couple more great hours out here tomorrow morning is when i'll be recording the show between eight and nine so please join me for tea and crumpets maybe a candy cane or two tomorrow morning live at eight take care and have a wonderful wednesday folks