 The following is a presentation of TFNN The Traders Edge with Steve Rhodes Toll free at 1-877-927-6648 or internationally at 727-873-7618 The Traders Edge Now Steve Rhodes Good morning folks welcome to the March 13th the wonderful Wednesday edition of today's Traders Edge show. I'm your host Stevie 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 means we can find the gift in every set of Circumstance that life is gonna toss at us now today you and I we're gonna go check on the circumstance of these markets We'll go figure out what those bowls 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 am here to serve you So feel free to pick up that phone would love to hear from you eight seven seven nine two seven six six four eight Now if you've got a question, but you can't call in we've got your back You can send me an email send that off to Steve at tfnn.com inside that subject heading Please put radio show question Of course if you're inside our Tigers then well than any in every ping we'll do so let's go ahead and get this Show started on wonderful Wednesday, of course. This is Tiger financial news network. I'm Steve Rhodes Welcome to the show right now. We've got a mixed bag out there. The mix goes like this That was up 121 points about three tenths percent One tenth of a cent to the downside for the S&P six bucks Six points 131 points for the rush on Aztec That's a seven tenths of a percent move to the downside Whereas the Russell's up four tenths or seven points out there Semis are off 2% hundred point move out there trainees off 16 points about one tenth of a cent You've got gold trading up 10 bucks Silver's up 35 pennies likes recruit us up a buck 67 natural gas soft force says and a 30 year treasure printed out one 2013 our leaders in the clubhouse to the upside micro strategy 130 bucks 8% William Sonoma 18% move 43 bucks. Wow. That's pretty good restoration hardware up 17 bucks 6% To the downside you got Broadcom off 29 bucks and bitties down 23 Dollar tree down 22, which is a 15% move there lamb research is off about 2% or 17 bucks So we've got movers and we've got shakers, but let's begin our day. Where do we want to begin our day? Great question. So I say one one area to begin your day is watch at the end of the day that spot follow till next Let's take a look at it and I want to say thank you to Garo out here So a couple days ago two days three days ago Interday around 11 o'clock in the morning. It was just before 11 I was considering issuing a short trade Index trade to subscribers out there But I just happened to pull up this chart and I had put the parabolic SARS dots that are on there That's one of the tools that As Garo uses it calls it on occasion and we take a look at his chart It's one of the tools that he uses so and I use the I use Wells while well What's the name Wells? Well, that's anyways Because can't believe I have a brain fart like that in any event What happened on that trading day that was on March the 11th by the way the parabolic Sardot, which is an important area was up at the 1605 level and the spot fountain has got to 1604 and turned right back down and those when the dots are up top It's telling you basically is telling you you should be considered looking to trades to the downside out there So I just said to subscribers, you know, we're gonna hold off here and and see how the day plays out And I'm grateful for that. So, you know, you guys each of you share your some of your tools that you use And and they're great. So it's great to great to do that. So in any event back to the spot volatility index I would share with you what Garo assisted me in doing here But I also use that 50-day experience moving average and use that as a guideline as to what the markets are communicating to us Whether to be short or long the market. Well raise yesterday. We had a close blow the 50 day today We're testing that 50 day again the 50 day is printed at 1396 the price is trading at 1392 If we get another consecutive close below 1396 today It's an indication of price of the spot volatility That is should move down and test that rising trend line that you see out there that rising trend line Takes us really all the way back to the trading session of December the 12th out there And that's been a really good level of support on any moves lower out there So that's what I'd be watching for if we take a look at the advanced decline Oscillator out there. It's been above the zero line since about March the 6th out there So for a handful of trading sessions when prices above that market conditions are both tells us that generally speaking Buyers are the ones that have the edge and with regard to the spot volatility. It's the It's the same signal out there It's telling you that buyers are the ones that have the edge of prices below the 50 day and Sellers have the edge of prices above that level another area to be watching out here would be these apogee pivot points. So Apigee and perigee are the two lunar phases that measured the distance between the earth and the moon apogee is when the Moon is furthest away from earth during the current lunar cycle and perigee is when it's closest Well, we had apogee come in I believe it was on Sunday morning Sunday afternoon sometime right or Saturday or Sunday When it comes in on a Saturday an over weekend when the markets aren't trading then what I do is I identify the close of Friday in the Open of Sunday now when those are pretty close and I don't really worry too much about it Well, the interesting thing here, and I can't tell you why it works I sort of camp and I won't because I don't die. It's not a it's not fat something I could factually prove to you I can't actually prove to you how well this so-called random that appears to be not so random point in time Because when I market folks I market right to the minute So the spot except for a weekend out there and of course unless the futures markets aren't trading at that stage And then you've got to go back to the other prior close or the current or the current open out there But if you take a look at this and you take a look at the NQ this morning as I was moving lower into the 10 o'clock time frame The actual low was 18 302 75 the actual apogee pivot point 1803 50 you got to love it and what did price do from there has bounced off of that and continues to rally now price closed below that 1803 50 level then we're going to get a short term Bearish signal short term well these are 30 minute time frame charts that you're looking at out here And you can see those pips once in the case the spinning price never got down even close to that level Which is the 51 96 area now we can see that Silver's trading above It's apogee pivot point and gold is not gold's got to get all the way up to 21 86 out there Lights recruiters trade above it in the 30 your treasure that 30 out of 30 or got the US dollar index Trade lower may be headed to that 102 37 level out there. Okay, so let's do this here The NQ is one that's getting the snot kicked out of it So to speak this morning if you will someone that's trading lowest down 610 percent on about 118 points So let's go take a look at its charts to do that We'll go take a look at the intraday charts move over to the to the white background charts out there I you know, I own apology to Tom G. He wrote in yesterday And I forgot to write it down on my computer out there and he wanted to take a look at the semis The good news is Tom that Liam wrote in he wants to take a good some ice and the semi conductors as well So we're gonna do that we'll get back to this break right now for take a look at the end Thank you. We can see that that us that are in change line ran into is where resistance held on the daily time frame That's now printing about the 18508 area. We've been up to 18507 today the five-hour time frame chart is Well, it's not likely gonna complete a TD 9 count pattern But I really won't know until about 2 o'clock this afternoon out there What I'm looking for is already bottom signals the only bottom signal I see right now comes from a 15 minute time frame That's a TD 9 count bottom But this the scary thing here is price found resistance at that red oscillator and change line So the NQ as far as bottoms out there We don't found a bottom at that apogee pivot point and we got this 15 minute It's not out of the woods. 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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 comm 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 and 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 satisfied Let us know and you'll get a full refund within 30 days of signing up TFNN comm educating investors 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 it 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 comm and try mastering probability 30 days risk-free today TFNN educating investors TFNN has launched 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 the Tiger's Den available to all Tigers and Tigris's for just $1 for the year There's no cash or added costs when you join our community of traders sign up today and become a part of this educational community of traders Just visit the front page of TFNN.com Free at 1-877-927-6648 internationally at 727-873-7618 So we've got the stock charts up for the semiconductor index out here That's what Tom was asking about yesterday Lee wrote in about this this morning be by the way Lee your last name I don't usually use last names on the air I try not to to protect the innocent and But but I do know some folks with your last name live up in the Boston Is area up there, so I don't know if you're related to that But any event his question goes like this day before yesterday You had as usual an excellent response a question about Nvidia and the socks In looking at Nvidia had had on Friday What it counted to be a huge double bearish and golfing candle So I assume he's saying double so I'm gonna go over that chart stock chart right now So I'm gonna switch over from here and try to go over to the NVIDIA chart so when he says a double bearish and golfing candle what he's referring to Now that I look at it Is he's looking he sees that it engulfed the prior two days sessions that's out So we're looking at the body the candle compared to the bodies of the prior candles out there, okay? I looked up how accurate but wish Bullish engulfing tend to be now. This was a bearish engulfing and got a guest mate of 79 percent So I don't know what that is, but okay also saw what was called a Sushi pattern well now sushi patterns that's up and I can buy into no idea what it is But it's Steven's a Stevie sushi pattern. Well, you'll enjoy yourself a multi-day engulfing Okay, Nvidia was a two-day engulfing. Okay, what's your opinion on the strength? Bearish engulfing is how accurate are they? Then he goes on to say shock to see how Unbalanced the weightings of the SMH is compared to the semiconductor index Yes, so I've shared that with folks in the past that they're paying attention to the semiconductor index and they're trading the SMH is They're not paying attention the SMH is two totally different weightings So let me show you what Lee is, you know pointing out out here and here is the here's the weightings Each of you can grab this you just do a little internet search on this So this is the I shares for the semiconductor in ETF out here the SMH So let's go take a look at this hold on here And no, I take that that's for the semiconductors and here is the Van Ech SMH So if you take a look at the first one out here, this is the weightings as of yesterday as of last night March The 11th out there us as of March 11 today's the 13th, right? So that's from two days ago. This one's as of March 12 Take a look at Nvidia the weighting here in the semiconductor is at 11.67 the weighting inside of the SMH is 26.73% and if you take a look at it's got different instruments They may have some similar interests. It may have many of the same instruments But they're all have different weightings out there substantially different weightings the very important and Lee points this out And thank you for doing that Lee and and then really in essence for asking me to just simply to post that so that people can see You got to know what you're trading when you trade those ETFs out there You want to understand what those top 10 instruments top eight instruments are doing oftentimes They can represent more than 50% of the weighting out there. So the question is this question is So first with regard to you did a search with regard to bullish Maybe bearish engulfing candles to see how accurate they were, but you don't know what that's comparing it to so here's where Stevie Uses bullish and bearish reversal candles. It is only At the completion of a pattern. That's where bull it that's where Japanese candlestick charting really has its meaning now I take a look at it during mid-stroke So for example if you got an a to b equal cd to the upside and you get some type of bearish reversal candle All it does is it sets up a resistance level. It doesn't mean that the move is over It just sets up a little bit of resistance So here we take a look at the Nvidia charts and you take a look at the daily time frame You can see that bearish engulfing candle. By the way, it doesn't matter to Stevie whether engulfs one session Two sessions or ten sessions the point here is that that candle formation came at the completion of the pattern That's where it has the most value it identified at least a short-term top and certainly it did back Out there so that's one thing then once you've identified a top or a bottom pattern It is incumbent upon yourself to be able to identify support and resistance now One of the easiest tools to identify support and resistance out there is the TD 9 count pattern the TD 9 count pattern on my system You will see green horizontal or red horizontal lines those identify Where an instrument either broke out or broke down from and those can act as real key levels of sport or resistance So that's one thing anybody can do that if you don't know that pattern Just subscribe to mastery probability as workshops out there tells you exactly what to do And each of you can make your notations on your chart each day for those instruments that you trade out there So that's the first thing the second level of support that I use out here and it is so valuable And I don't get anything for a suggestion that you go get this But you really should are those profile levels because it gives you and I an uncompetitive advantage out there a very Uncompetitive advantage really take if you think about it So if we take a look at this and we so that's such step number two out there And then the third thing that you really want to understand with regard to an instrument is what are its dance steps out there? And when I refer to dance steps out here I'm referring to consecutive days higher and lower here is N Vidya and in a bullish market in a real strong bullish market the Retracements will last for no longer than two consecutive sessions normal retracements in a bull market are between two and four Consecutive sessions out here. So we take a look at N. Vidya. We just simply come back here into the October time frame We can see one three bar move to the downside then price moves higher another three bar move We get five bars the upside once you start getting beyond five four Once you start getting beyond four bars in any direction It typically tells you about the change in that that this the signal strength is to the upside out there So you can see what took place after that big huge bearish engulfing candle Disappointment would have you on March 8th a little bit of a sell-off out there. We had a two bar knee-jerk reaction low Yeah, so you want to understand these things you got a really you don't have to I'm suggesting that you put all of these tools together Because it will help you to understand the message of the markets out there. How accurate are there? They're very accurate at helping you and I identify at least a short-term or intermediate term We've been long-term top out there Then what's most important is understanding where our support levels and how does price react when it gets those different support levels Here in the case of N. Vidya price is not broken through support. Yes It's also done change on was one level of support We saw close blood for one session and then we got right back above it Well one day wonders one yet wonders. That's all that they are out there You and I were looking for something more consistent than a one hit wonder out there That's why we at least look for twos two consecutives to close above or below support or resistance out there So in order for N. Vidya to suggest that it has any kind of change in trend and this here would be considered a profile change in Trend you would need to see a close below 821 60 you would need to see to close below 821 60 out there Until we get that N. Vidya right now is somewhat neutral and it's neutral because price is Creating with inside the profile. It's potentially yesterday close back above that green answer and change line If it does that again today, it just suggests that price should get up to test resistance That's up at the 935 90 level out there. So And I don't recall I think you had gone you were looking maybe at going long I don't recall what you were I apologize don't recall what you're doing. I just remembered in the middle of the night Oh my goodness. I forgot to respond to Tom's question. See you kept me up and I didn't keep me up I just realized that I had forgotten to do that. So with regard to the SMH Let's get over to the semiconductor index itself. So let's get back to those charts See what kind of signal information is coming from it And if I look at a 15 minute time frame, we can see we close below the prior bars and blow out there That's on a 15 minute base. It tells us about momentum to the downside same on the 30 minute looks like 48 68 42 Is at least the next target level to the downside inside the semis if you close below that then we're likely going to go Target the next support level and that would be down at the 48 22 level for I'm sorry 48 32 level 48 68 and 48 32 are what you want to the downside inside the semis see roads with TFNM Old 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 The u.s. 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Just to close out the discussion on the semis I'm showing you the smh out here This etf you can see that this has a erosement Diminicator top that was confirmed with that bearish engulfing candle that we were speaking about earlier that appeared in the semiconductor Index chart itself and this has got support at 2 17 90 so 2 17 90 uh is support if price were to close below that then the next area support would be at 208 79 The weekly time frame you're likely to confirm a td9 count top this week That would suggest that the smh's are getting ready to pull back towards a 208 50 ish area out there And on a monthly basis we have to wait till we get to the end of the month before we make any calls out there So that's it for the semis. I hope that that helped each of you out there with regard to that discussion Let's move on to our next request. This is coming in from nicholas and nicholas wants to take a look at Both the russell 2000 equity future contract and the i wm So let's pull up the russell 2000 equity future contract. He's really interested in short term Signals out there a short term time frame. So i'm going to start from the bottom right. That's a 10 minute time frame So the bottom right panel out here does not have a topping pattern did trigger roads meant to indicator signal That triggered that at 10 30 this morning, but we've not seen a bearish reversal candle yet Just because the candles bars the bar of the candles red doesn't mean it's bearish Just tells you where price opened and closed just because it's green doesn't mean it's bullish Just tells you where price opened and closed out there What we do have on a 10 minute time frame for the russell 2000 is a consolidation within Inside its profile for its 10 minute time frame that says that 20 95 is a key level of sport and 20 105 Is a key level of resistance. We can see a 20 95 on the 50 minute time frame That also was a test of support out there So that's a key area to watch from a short term standpoint nicholas if price were to close below that It would signal a move to lower price by initial instinct with regard to where that move could take us to Would be down at about 20 83, but that's not the condition we have right now The condition we have right now at 11 32 is that the on a very short term time frame 10 and 15 minute And i'd say i'll add the 30 minute time frame to that is price wants to get up and go target that 20 105 level 20 105 is a resistance point on the 30 minute the 15 minute and the 10 minute So it's a pretty strong level and if that were to get taken out that would be a short term very short term bullish signal to the upside 60 minute time frame chart for the russell 2000 is bullish when i mean by that is price is trading above All resistance areas same thing for the 120 minute chart same thing for the 240 minute chart and Same thing for the five hour chart So the real issue here then with regard to the russell you can see is that daily oscillator and change sign So they so we may route we're going to rally a little bit further or we should rally a little bit further But what you've got to really keep your eye on 2104 is the magic number out there if we see a close above that That would be from a daily standpoint That would tell us that price is likely going to get back and test that teeny nine count topping pattern from a few days ago Now that's the signal information from the russell 2000. Let's go take a look at the IWM now in the IWM. I've just got daily weekly and monthly I'll pull over a 30 minute time frame chart as well in the case of the IWM If you're going to use that number out there for the daily time frame that's key resistances at 206 42 If price is able to close above 206 42 That would be signaling price to get back to test that TD nine count top You can see on a weekly basis price is already trading above resistance. That's at the 205 49 level That's the top of its weekly profile So that tells you that that daily oscillator and change that is a real key area for you to watch and observe The monthly time frame is bullish out here. We take a look at the IWM bullish because we're trading above a Green oscillator and change line that tells us we have a rising price oscillator above zero bullish conditions period end of story No other way of looking at it unless you get an actual topping signal like a TD nine count or something like that But in this case here the monthly time frame chart is simply a bullish. So watch that 206 52 on the IWM Nicholas, I hope that helped you out short term with regard to the russell 2000 Right request from s and p inside the targets then you'd like to take a look at hood h Double od out there. So we take a look at it hood formed a wave number seven that top that got negated That was on the trading session of march the fourth But that was also a TD nine count top and that still remains in place out there But it's being threatened as we speak So the key area here in in hood that you want to watch for s and p Is the high from the trading day of march the fourth and as at 17 22 or 17 19 right now What happens if we close above 17 22 what happens is it's a TD nine count pattern gets negated It also would take us on a daily basis above TD nine count I'm sorry above profile resistance and above that oscillator change line again bullish conditions And that would tell you that hood is going to head higher now. We can see an a to b equal cd pattern out here I'm going to just simply draw it in on the weekly time frame It's got a lot less noise much easier this formed a TD nine count bottom out here And then if I just simply cut and paste I'm sure we're beyond the one-to-one level Just want to make sure And now we just simply yeah, so we're beyond the one-to-one level out there So what the weekly chart says the only pattern that is out here that could identify a potential top would be a bearish reversal candle We certainly don't have that as we speak right now So price should continue to move higher out there and the monthly time frame chart for hood Shows us that price is trading above profile resistance out there. So that chart is a bullish So in order for the daily chart in hood to get bullish smp You need to see it closed above the high for march 4th. Again, that number is 17 22 out there I hope that that helped you out with regard to that set of charts out there The next request coming in from hector and patty and hector and patty want to take a look at Agnico eagle AEM is a ticker symbol. Let's pull that chart up on our screen out here It looks like it's breaking. Well, that's not it. It was kweb. I'm sorry kweb, let me do kweb hector because that was actually next in line And the question here is what's going on. So I see an a to b equal cd to the upside looks like on a daily time frame Let me go ahead and open this up Yeah, because this is taken out a td9 count top It did that yesterday that td9 count top was from february 27th Now that was a swing point with volume of 19 million shares that was taken out with 34 million shares So what you have inside of kweb as we speak right now will draw it in and I'll give you the approximate I'm not going to measure this right to the t. I'm just simply going to move that a to b line Over to the c area and this gives us a one-to-one price projection around the 28 area now Price along the c to d leg is much stronger than it was on the a to b leg This says this has a real good opportunity of doing more than a one-to-one a to b equal cd to the upside But you got to watch this as it moves higher There may be other patterns that show up such as a td9 count But look at the weekly time frame chart the weekly time frame chart All that is good and well steve on that a to b equal cd But I just want you to know I've got a road block and that road block is sitting at 2775 or 2731 as we speak right now So the next real upside battle daily improved to us yesterday It wants to move higher But you still have to respect the other levels of resistance that are out there and right now as we take a look at kweb That's at 2775 and the price get above that we should continue to move higher With that next battle being at the 2908 area and I think that we said This year we had an a to b equal cd in the 28 ish area So that would become your range. So really 2775 28 2908 That's where your next battleground is likely to be when we take a look at kweb We get back to this break. We're going to go take a look at aem for hector and patty And if there's other requests that come in we'll take a look at those as well We're going to look at paypal. Steve roach with tfnn 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 keg stats tiger forex report Teddy keg stat 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 the dollar index the euro dollar pound dollar Dollar swiss dollar yen as well as many more and he also has weekly coverage of the crude oil market and the 30 year t bonds As they both influence forex markets tremendously when you sign up for the tiger forex report You also gain instant access to teddy 60 minute webinar archive He just hosted forex strategies and fundamentals What is behind the tiger forex report for all the details and to start your 30 day tiger forex report subscription today Visit the front page of tfnn.com tfnn educating investors Everything in the universe is governed by the fibonacci sequence This mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market To stay on top of stock patterns You can take advantage of sign up for the fibonacci 24 7 newsletter at tfnn.com When you subscribe you'll get a weekly report from veteran day trader larry pesavento on stocks You need to pay attention to and you can trust larry's analysis After all he's got 45 years experience as a day trader larry will also provide daily charts videos and data on the Key markets that he's tracking expect notifications from larry on market movement You need to act on at any time 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 Subscribe to the fibonacci 24 7 newsletter today tfnn.com educating investors For traders who crave risk directions daily leveraged and inverse ETFs provide Opportunities to magnify short-term perspectives with up to three times a daily leverage Utilize bull and bear funds from both sides of the trade and trade through rapidly changing markets These are highly leveraged ETFs with daily resetting designed for short-term trading not long-term investing Whether you're a bull or a bear you choose the direction for up-to-date pricing and performance go to direction dot com Investing in the funds involves significant risk and should only be utilized by investors who understand the impact of leverage And actively monitor their portfolio They are not designed to track the underlying index or security for more than a day Before investing carefully consider a fund's investment objective risk charges and expenses contained in the prospectus available at direction.com We carefully distributor foresight fund services LLC This program is brought to you by vista gold traded on the nyse american and tsx under the symbol vgz Great eco eagle aem is the ticker symbol. We can see that today. It's breaking out above profile resistance This is a profile that formed yesterday out there 55 76 of the resistance level You've got a nice profile change in trend signal. That's the good news Now I got to share with you the bad news The bad news is today will become bar number nine of a td9 count now td9 count pattern the high Can take place on the bar following bar number nine I don't have anything to suggest that that won't be the likely outcome here But uh, we are nearing a point where we could see at least a short term top now The cool thing is that we have that new profile from yesterday So if we do get that, uh, well, we're going to get a confirmed td9 count today There's unless this thing just sells off miserably Then if it doesn't it's got some major problems out there So you're going to get a confirmed td9 count top today inside of aem You're going to get a completion of that pattern come tomorrow that should take price back to support That's the beauty of that new profile though because the first level of support would be at the 55 76 area We look at a weekly type right now. There's no a to b equal cd patterns or anything along those lines I don't think that this retracement here From the trading day of march the uh, february 23rd to that low Of february 28th is at the 0.382 retracement So it looks like it's less than that out there But it doesn't matter because even if we did have an eight if we did have an a to b equal cd pattern You'd wait for a bearish engulfing a bearish reversal cannot a bearish engulfing Bearish reversal cannot confirm that pattern now the weekly chart looks pretty good too The week's not over the price is trading above profile resistance. That's a bearish structured profile. So that's pretty nice at 55 44 There is no topping pattern out here. We're trading above a prior swing point So this is telling us wants to get up to 60 20 now td9 count patterns do fail So, uh, whatever the high of the pattern is whether today's high or tomorrow's side the highest high between these two days If price encloses above that high that tells us about a strong momentum over the upside You could take a look at a Nico ego heading up to 60 20 60 105 happens to be the resistance point on a monthly time frame. That is the top of its profile So that's what we see we take a look at a Nico ego if we look for the very short term time frame very short term would be a 30 minute time frame chart So you are in wave number seven out here you also in bar number seven In order to confirm this wave seven top you've got to have a lower high on the 30 minute basis out there But this could be getting ready to form some type of top in the next short term top in the next couple of hours or so If we look at its dance steps out here, we're going to see uh, what I don't know We're going to see they're going to open it up We're going to see that it's been pretty strong move right after coming off of the bottom February 14th out there Happy valentine's day and at the three bar move to the downside that's your knee jerk reaction low Typical knee jerk reaction low inside a bull market number. Do we have? Well, this is going to go away tomorrow, but we had a one bar move to the downside It's very strong out there, but nonetheless, we have to respect to pay attention to those TD nine counts Well, I don't know if we have to respect them. Do we I don't know. Let's go open up the chart Let's go see if we got any other TD nine counts out here. Yeah, the bottom was a TD nine count seemed like that Was a good thing to respect out here. Here's a TD nine count that did fail This is the one from January the 11th. Once you fail tells you your head at lower We can see the results of that. Here's a TD nine count top back on October the 18th That certainly led to a multi week move to the downside out there So, yeah, I'd say they're worth respecting out there But again, you know, it's not like you back up the truck You're just aware of the signal and when an instrument may be topping out. That's usually pretty helpful Now do we got to go from here though? We can't just take look at that instrument and be able to make a call What's going on inside the gdx? That's a good question. So let's go take a look at it Just so turns out that I put that on the chart too Well, what do we see here with regard to the gdx? A daily time frame is going to go ahead and confirm a TD nine count top today Again, much like AEM Price here is traded above the top of its daily profile that formed yesterday. So that's nice But again, this TD nine count top is going to go ahead and complete by tomorrow And that's a gesture retracement and every tradesman could be just back to 29 94 the top of that daily profile It gets below that we're looking at somewhere between 28 72 to 29 13 The gdx weekly chart looks very much like the AEM chart. We're trading above its bearish structured Profile 29 79 is resistance to close above that this week would be good and next week as well out there But no other pattern that I see on the monthly chart on the gdx looks better than 8 a.m In that price is already trading above the resistance of its TAS Mark monthly profile at 29 56. So that's what we have going on inside the gdx TD nine counts out here Now, let's go take a look at the gold deluxe and silver. Let's go see what they're doing Why because of the correlation the directional correlation that the mining stocks have With regard to gold and silver outers. So we take a look at gold. What do we know? We know gold already has a TD nine count top and that had us moving lower Obviously today we're trading a just a tad higher hasn't gotten down to that oscillator and changeline It does have a bearish structured profile 21 71 80 is a very key level to watch if we got a close below that today That tells us we're headed to 21 44 or even 21 or nine or even 20 33 out there. We look at the weekly time frame chart I don't see anything bearish about it, but we still want to respect the fact that we still have a TD nine count top on the gold chart for its daily time frame now We take a look at silver. What is silver doing? I do not have any kind of a topping pattern Other than prices gotten back to 24 95. What's so special about 24 95 steamy? That is the TD nine count breakdown resistance area And even though we don't have a topping pattern that was also a TD nine count top up there Even though we don't have a topping pattern. This is a week. That's the daily chart. We're looking at That's resistance area. So we've got top inside of gold. We've got the gdx It's got TD nine count tops out there We didn't take a look at all the other instruments inside of gold We could take a look at one other take a look at newmont mining because I think that is the number one waiting Still, I believe that's still the number one waiting Let's put that in here and what newmont mining was doing was running right into resistance This morning when I looked at it right at the top of its profile And that's a new profile from yesterday So I don't have a topping pattern like the TD nine counts But we do have is uh newmont mining is right at resistance as well And the top of that profile out there Is 3455 so not a guarantee that we're going to see some type of top in a pullback, but boy You know we'd have to investigate more of the uh mining stocks out there But the first two are saying hey, we're up at resistance So we've got a topping pattern out there. So hope that helped y'all patty and hector Thanks so much for writing in s and p wanted to take a look at paypal out here So let's pull up those charts. PYPL is the etic assemble beautiful day out here Looks like it's trying to confirm an a to b equal cd the upside the b point would be from february 29th That had volume of 17 million shares today so far. This has done 10 million shares So you got to confirm a to b equal cd the upside doesn't mean that you'll get there because you've got to deal with resistance level But first let's draw in the a to b point. Let's uh for our purposes. Let's go ahead and copy and paste Let's move that over to the a d point out there So it says we get up to about the 63 88 area 63 50 Happens to be the top of that daily profile for paypal So watch that area. You got a level of resistance now What you're looking for here doesn't matter. It gets to resistance. I don't say I'm not saying sell I'm saying be aware of the battle If you did get a various reversal candle as price gets up that 64 dollar area Then you'd have a gartley sell pattern. That would be what you're on the lookout for on a weekly time frame paypal has resistance at 64 13 So right in that a to b equal cd quadrant area at 68 65 is a monthly resistance level And that is the top of its profile out there. So paypal Still looks bullish and we could say it still looks bullish. Why well if we come pull it up the dance steps out here This had a nice seven bar move into the high on march the first and then we get a three day pull back out there So paypal Well, it's daily time frame looks like once it continued to rally The question is what's it going to do? But it gets up to that resistance over the 63 ish 64 level Zeroed 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. 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It's time to protect and grow your money with insight You can trust join us live monday through friday during market hours for exclusive content that moves with the markets At tfnn. We bring the trading floor to you our season hosts are here to answer your calls and questions live on the air Check out the tiger's den for just one dollar and follow us on youtube and become part of our vibrant community And remember at tfnn. We're so confident in the value We provide that we are for a 30 day money back guarantee on all new premium newsletter subscriptions and services You have absolutely nothing to risk So why wait tune in live to tiger tv and transform your trading journey because when you know better you invest better Join us and experience the difference today tfnn educating investors A request to get in uh one is from snowball inside the tiger's den It's for broad stone net lee sink bnl is a ticker symbol out here So we take a look at it. What do we have uh looking for a bottom? It's the weekly time frame chart snowball That's the one that you want to keep an eye on and that is uh because it's going to go ahead and complete a td9 count Bottom pattern on friday now the low right now came in on bar number eight We're in the bar following bar number nine that says what right now you need to watch like a hawk The level of 1452 if you get a close below 1452 bnl wants to target 13 73 The reason you want to watch that like a hawk is because a monthly time frame chart is trading below profile support out there Which is at the 1544 level. We have just a good old fashion consolidation on the daily time frame That's between 1465 and 1507 still watch that weekly td9 count bottom If you were to get a close or two consecutive close about 1507 You then have a daily profile change in trend to add to your weekly td9 count pattern And that would tell me that price is going to continue to move higher without the weekly chart that A certain change on being the next key battle, which would be up around 1544 out there So nice td9 count bottom the last request on a weekly time frame last request coming in from mike and pennington And mike wants to take a look at s o u n s o u n those are the charts we have on our screen out here His question is how does the charts look this is for sound hog? That looks pretty good out there Why well if you take a look at the daily time frame chart, we don't see any kind of a top out here We're trading above a profile. We're trading above a green a certain change line We are trading into a swing point though, mike. Let's go take a look at the volume here That was from february 27th that swing had volume of 301 million so far today You're up with 69 million shares So it's coming into that swing point with lighter volume, but you're still in it I would expect that high to get tagged that is at 791 The weekly time frame chart is bullish without any kind of topping pattern The same thing can be said for the monthly time frame So that covers sound hog a i out there And I hope that helps out so folks a pretty smooth show today Thank you for all of the requests stay tuned for all the great programming that we've got lined up I'd love you to have a wonderful wednesday, but please join me on terrific thursday. Take care. Be safe out there