 The Traders Edge with Steve Rhodes free at 1-877-927-6648 or internationally at 727-873-7618. The Traders Edge now Steve Rhodes. Good afternoon folks welcome to the January 8th of wonderful Wednesday edition of today's Traders Edge on your host TV 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 what a market we've got plenty to take a look at of course during this next hour it's really all about you I would love to hear from you put an extra set of eyes on whatever symbol whatever instrument it is that you're trading we can look at different time frames get a feel for whether it's topping whether it's forming a bottom where price where support resistance out there we're certainly gonna do that during the hour out here so he gives called 877-927-6648 if you can't call it well we've got you covered there too you can always send me an email steve at tfnn.com inside that subject heading please put radio show question of course our Tigers done well any ping we'll do so let's go ahead and get this show started on a wonderful Wednesday of course this is Tiger financial news network I'm Steve Rhodes welcome to last show right now we got indices all in the green out here the Dow up about seven tenths of a percent the Dow is well the transports are leading the charge they're up a little over 1% they're up 118 points trading at 11,000 and five the Dow is at 28777 the one-armed band it is alive and well the S&P's up 20 points the Nasdaq up 74 the Russell 2000 up six point seven eight the semis are up six points out there the spot volatility index it is now below its 50-day exponential moving average that's the number you're gonna want to be paying attention to at the end of the day we'll take a look at what that level is right now the spot is trading out at 1322 we take a look at the gold contract down about 13 bucks so we'll go take a look and see if there's some bottoming patterns out there short-term or not silvers down 18 cents lights we crude up three bucks nearly 5% to the downside lead the charge dollar wise to the upside it is it's truncated in the den huh the screen bummer I don't know what to tell you and I think there was a Skype update or something last night there mr. Bill and and because things are not exactly looking correct on my screen either with regard to the Skype aspect but we're just gonna have to what trod through this as much as we can we'll let the guys in the at production room try to get things up figured out Tesla is by the way the leader to the upside it's up 23 dollars Google's up 15 booking holdings 12 Mercado Libre is up 11 to the downside it's market taxes holdings down about 10 bucks a royal gold down six zebra technologies down five pioneer natural resources that is also trading to the downside so let's begin there's no questions I take that back I do see one question here so let's go take a look at the answer to this question see if we can figure out the question is coming in from George in Tampa and George wants to take a look at ticker symbol BTG so let's go take a look at BTG and see what it the first you've got to you can tell I went to the TF and in school of typing because I had an additional letter in there but BTG that is B2 gold your question is a good entry point a good entry point a good entry point is going to be when gold bottoms because there is a directional correlation directional correlation between the way that the the way that the gold mining equities trade as well as gold now take a look at BTG specifically you are going to see that prices above the daily weekly and monthly profile levels out there so in essence that's saying hey that is a bullish if we take a look at that say the so here's the daily time frame chart you're asking for an entry point so entry points would be I gave you what I believe is a correct entry point that is George you need to be comfortable that your entry point into BTG is when it is you see a bottom in gold and I would put more of the priority in gold but to answer your question with price being above the top of the daily profiles and you've got really four levels to take a look at a position forget about trying to time with gold although I don't suggest you do that but three dollars and sixty six cents would be one three fifty five is another and three forty five is the other that is the bottom the ladder being the bottom the center and then the top of the profile of prices below three forty five three eighteen is the price on the daily chart where BTG had broken out and because you asked about BTG that means we're going to have to go take a look at gold on a weekly basis what do we have going on inside of BTG we can see price has been moving higher doing less route of energy no bearish reversal candle yet out here but be cautious three seventy seven would say where BTG could find support that's it's a weekly oscillator on change line from a monthly standpoint with regard to this equity let's do a little bit of a wave count to the upside out here see where we're at we're only in bars seven from a weekly standpoint of a TD set up nine counts so we're not seeing the top here but I do believe that the real key here George is what is gold doing so let's go take a look at Goldilocks try to get a feel for what it is trying to accomplish on us a new profile that is trying to form inside of gold this is brand new today we really won't know whether this will hit or not now the reality is when a profile forms below prices actually bullish but look at that old key reversal bearish engulfing session that we have today so price may pull back to the fifth to the top of that profile or bottom top is 1532 the bottom in the center are both 1522 J I apologize that the charts aren't centered on the page we're just gonna have to let the guys in the production room try to figure that out but yeah please watch them on Tiger TV that would be the best way and there's no way for me to reboot my system and get back up and running for you within side the break time that's that's not gonna happen unfortunately there's too many things going on in the background but let me describe to you that there is a new profile that is attempting to form and this would say 1522 or 1532 to the extent that George you believe that this is a topping gold that's an area where I would be looking and area where I would be looking now if we take a look at the daily why isn't that gold might be topping out here well you know that we use a handful of patterns out there two of those patterns are in effect today those two patterns are wave number seven that is letter G and that's starting from the low out here on November the 12th so now wave number G if there's a higher high tomorrow well that can continue on but right now this is suggesting that you've got a wave seven top out here additionally as long as a gold closes above the bar the close from bar number five that's 1528 10 and likely it's going to do that then what today will become as a TD set up nine counts so now you've got two topping signals in play now what sellers are given the they're given the benefit of the doubt that they should be able to push price down to support where a support on the daily timeframe well we just took a look at the new daily profile that's forming so you have those levels and now what you've got is you've got 1536 90 1536 or 1537 at Stevie's green line we can see that that green line it turned red about eight nine ten sessions ago and so we know that there's usually a meetup of price and it so 1537 is really George where I thank you you just you keep your hands in your pocket so to speak you keep your outer dry for the time being let's wait to see how Goldie locks plays out here right now you've got two topping signals and that suggests that BTG will continue to pull back along with all of the other mining equities out there Steve roger TFNM will be right back if you're not currently using the Taz profile scanner when looking at setting up your trading opportunities then your arsenal is short a mighty weapon the Taz profile scanner is a standalone piece of software that instantly filters over 2500 global financial markets such as stocks ETFs 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Many of our new listeners have heard about the Tigers Den the Tigers Den is a lively community where professional traders and investors can meet exchange ideas and information in a comfortable moderated atmosphere here all of the TFNM shows plus see all the charts as they happen live and have access to archives of all of those charts you can test drive the Tigers Den absolutely free for 30 days and greatly enrich your knowledge of these markets and how to make your money work for you details on the Tigers Den or on the front page of TFNM dot com TFNM has launched our brand new website you can still visit us at the same TFNM dot com URL but when you do you'll see a new and improved homepage with a much simpler navigation whether you're watching Tiger TV live in high definition or just accessing your newsletter subscriptions we even have new pricing in six months and yearly options check out the new TFNM dot com now and experience all the upgrades TFNM dot com educating investors call now toll free at 1-877-927-6648 internationally at 727-873-7618 welcome back folks so let's go take it we've got another question here that has come in right now dows up 179 SNP 19 points this one coming in from Rachel in North Carolina and so Rachel writes in I've I've traded this stock in the past and they've done well I'm looking for a possible entry point so let's go take a look at it so thanks for writing in Rachel so ticker symbol here is is FIVN that's the and that is for five nine ink and Rachel as we take a look at the daily weekly monthly timeframe chart here we can see that today price is trying to get above resistance 69 21 on the daily and 6802 for the weekly both of those are the top of the profiles and if price able to close above that says that it should be off to the race now we've got to go look at my other charts out there to see if there's any other type of topping signals but as far as resistance prices now getting ready to an appears trade above it volume is is about 286,000 shares the last time that this equity FIVN five nine ink was up at these levels it had volume about 889,000 you're 286 so it's taken on that prior high with lighter volume always says just be careful out there let's go look at my other charts see what we've got here so you're looking to get into this and right now just take like our task marker profiles you would have to play this as a momentum trade as far as your entry point they would have to be a pullback to the top of those profiles 6802 to 6921 but looking at the daily time frame chart out here one thing that we notice with regard to this equity the last time that it topped out here in any kind of significant way was back on the trading day of August 28th and on that day Rachel what we saw was price was moving higher you do it with less relative energy if you look at the bottom of my panel out here bottom panel of the screen that's dealing with the relative strength index out there and you can see that it was a lower high that formed when a higher high was formed in price and then you got your bearish reversal candle the bearish engulfing that went ahead and sent off a set off a price moved down to where this equity had previously broken out which was $50 and 50 cents found the bottom there it's moved back up it's above those highs but now what you have that appears to be forming is another one of those roads momentum indicator tops now yesterday actually got the signal what price didn't do was closed below Stevie's green line out there in fact today said 6833 prices bounced off of that level so I'm going to suggest just based upon this daily chart you need to let this pattern play out now it's possible that we won't get a road momentum indicator top price will continue to rise it'll eventually overtake the RSI reading from back of a couple of weeks ago when that highest level was attained out there and then that's fine it just keeps moving forward in some kind of a to be equal CD up action out here but the only trade that I could give you in the daily says be cautious out here would be you know some kind of momentum trade and I would just simply say you have to use the top of those profiles as your entry level there as far as the weekly timeframe out here let me see what the weekly timeframe has got in store for us not much really so I don't have the I don't have a topping signal here price above 6716 says that everything is good and if I look at the monthly timeframe chart the longer term time frame chart now this has been a beautiful looking run out here if you go back just simply to 2015 it was about three bucks right now it's at $69 so that's a beautiful thing and in fact if you look at those monthly profiles out here you've never seen a close below the bottom of one of those boxes on the weekly yeah you have seen that but on the monthly timeframe chart out here I don't know let's just try this just for blanks and giggles just go see what the wave count is okay we've got to do the another one so the next one Stevie would start right here and then we're gonna have to do another one to start that right about here but it doesn't look like we've got a topping signal doesn't look like it but let's just make sure out here with Stevie but we do have price moving higher doing less relative energy so it's got that same type of pattern on the monthly that it does on the daily so great so I'll just get back to if you want to play this as a momentum then go for it but I'd say wait to see how this daily timeframe plays out because you might get that confirmed roads momentum indicator top in which case that price could pull back to 58 94 that's where you would have your sights set on Robert writes in and Robert wants to take a look at a you why so another gold stock Yamada gold out there I believe and that's pulling back this back inside at this stage of the game it's back down below the top of its daily profile that was 380 out there so your next price target to the downside 368 and then 347 Robert writes in can you tell me a good buy point for a UI Robert it's going to really be the same thing for any of these gold mining equities not until we see gold bottom and we already went through that and we didn't see that we didn't see that we were looking at at the gold contract on the daily based on that's real bummer one of my one of my tools that I need to use is not there shoot shoot shoot shoot well here let me just pull over and I can't reboot let me pull over gold I may have to go to the backup plan I don't have it just yet but I'll formulate it during the break but here on a I know one thing I can do because we can take a look at key levels of support and resistance I can look at three different time frames just had to remember that I have that chart handy handy dandy so let's go pull out that handy dandy chart so I can find it it's right here now we're going to take a look at Robert's just simply the short term because we had already covered the daily I believe in the weekly time frame out there but here in the daily time frames we're just using the cd9 count levels of support as well as the count support resistance you can see on the 30 minute time frame that's a top panel then in the center you've got 60 minutes down below that is 120 minutes the red horizontal lines are your breakout level so they are where price should find support we can see that price broke through one level on the 30 minute which was 1567 found support at 1559 70 prices basically trading at that level go to the 60 minute time frame you can see why there was a pause in price of the declining gold because on that 60 minute time frame it got down and formed a TD setup 9 count it can do it that low can be formed on bars eight nine or the bar following nine in this case here it was the bar following nine it still is trading below its breakout level that's 1565 40 you're below the breakout level 1564 90 on the two hour time frame chart this suggests that price the price of gold wants to move lower out here so now is not a time to be looking at it in my opinion i think the time to be looking is when gold finds a bottom if we take a look at uh and so i know i'm not spending too much time on yamana prices trading above the top of the weekly and above the bottom of the monthly it's because my other charts i'm not going to be able to uh they've got a problem and i am going to have to reboot this system but i'm going to come up with another option for you but i am going back to just simply take a look at gold just so that we don't beat this horse to death so to speak we've got gold moving lower and all major currencies here is our primary horizontal trading range is a key level to be watching is 1561 we're at 1560 right now if we see a close back below 1561 that's its weekly horizontal trading range it'll be back inside the weekly range out there what price has been doing what it did overnight was it got up to the resistance level of 16140 it got a little bit above above that level let me just turn the weekly even though it's a weekly chart we're looking at here give me one moment i think you can do this before we go to a breakout here horizontal trading ranges i'm going to turn the weeklies off and just so you can take a look at the monthly that's what we're really looking at out here for everybody robert really does look like where gold's going to move back to is 1462 70 steep roads if you're right i'm certain you are or strive to be one of the best of the best at everything you do in life it's the most common trade that we tigers and tigers share if you're looking to become the best of the best when it comes to managing your money let me teach you to do what most wealth managers tell you can't be done which is how to time the markets i'm steep roads author of mastering probability and for the last 12 months timer digest has been tracking my newsletter signals which have earned me the ranking as their number one market timer in the nation for the s and p 500 for the last 12 six and three months timer digest also ranks me as the number one market time of gold as well the fact is markets can be timed and i'll teach you the exact set of tools that i use that is transform me into one of the best at what i do sign up for mastering probability today by clicking on the newsletter tab on the homepage of tfn.com and get immediate access to workshops where i take you step by step how to use an extraordinary set of tools as well as provide great market calls to sign up today the path of least resistance is david white's daily trading newsletter and if you're looking for active trading ideas then now is a perfect time for a 30 day free trial to this powerful daily trading advisory service david uses his years of trading experience to offer his subscribers his trading ideas each morning in his path of least resistance newsletter using a combination of equity trades along with options david keeps 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charts allows you to scan thousands of stocks for fibonacci formation setups including guard lease abc's butterflies and much more the art of timing the trade charts is designed to help you when scouring the markets for stocks just beginning to form the trading patterns that many investors spend days weeks or even months searching to find and right now we're offering licenses available at only $79 a month we are so confident that you're going to love this new charting software that will even give you a 30-day unconditional money back guarantee don't miss out on this incredible new piece of software get your copy of the art of timing the trade charts today by visiting tfnn.com this segment is brought to you by think or swim for more information just click the think or swim banner on the front page of tfnn.com welcome back folks uh yeah i didn't get it totally done uh before the breakout here but just give me one more moment and that way we'll be able to pull up some daily weekly monthly charts up here for whatever instrument it is that somebody wants to look into so i'm going to just put this off to the side we'll have it at our disposal should we need it so well let's go take i don't have any other questions that are in of course i would love to hear from you at 877-927-6648 of course you can always send me an email steve at tfnn.com or inside the tiger's den just simply ping me with some kind of message so let's go take a look at last night's activity what's going on in the markets what it all means as we speak right now with DAWP 194 so these tools that you and i use they're extraordinarily powerful if we take a look at we're just going to take a look at the indice that is powering ahead to the upside that's the NASDAQ NASDAQ 100 right now up uh nearly nine tenths were sent or 75 points out here so as we take a look at what transpired yesterday here we can see both the TD set up nine count that was at 2330 that was on the that was on january 6th then a roge momentum indicator signal uh four o'clock in the morning yesterday price breaks through support doesn't do that until last night about as a contract was coming to close but it put in a hammer candle as soon as the market opened because of the missile strike and so forth it took out the bottom at hammer candle where the NQ 30 minute formed its bottom was after a TD set up nine count remember on a nine count you can make your higher low on bars eight nine to the bar following nine that was the bar following nine then what happens you get a new profile bullish structured profile that forms so that happens at exactly 830 when that profile uh takes place price runs right up to where it should resistance that was the top of that box that was around the 87 78th level uh doesn't stay there for long that was also stevie's red line so price closes above that at 2200 hours out here but price does it makes a run all the way back up to resistance resistance being 88 85 so as we got into the 630 time this morning runs right in resistance a TD set up nine count which held up until about 10 10 11 o'clock when uh as the thing started being released with regard to what the president was going to say this morning now you can see that uh the 30 minute timeframe chart for the NQ is forming bar nine of a TD set up nine count so uh this bar will end at two bar following nine would be 230 so if there's going to be a top or a high that's going to form it's going to take place between now and 230 an hour from now using this 30 minute chart and using the patterns that are available to us on that in the meantime it will come back to yesterday last night this morning's activity but first let's go to one of our callers we've got mark and uh fort mullen mark thanks for calling thanks for holding how are you four columns not four columns okay yeah wasn't i was going to ask you where fort mullen was that but okay now now we got it now we got it okay so we're on the same page and the ticker symbol that you want to take a look at is the mj which is the alternative harvest etf out there so tell me how i can help you okay well i just subscribed to your newsletter by the way yesterday so uh thank you um i'm excited to have a year of of your advice and um i did i i know you i won't talk about it but i know you had a had a maro medical marijuana stock in your in your newsletter and um i just um i've been watching the mj for a while on my own and i was waiting for it to test the um the 1610 level which it looks like it did this morning on lighter volume and um i went ahead and picked some up around 1612 and i was wondering what your thoughts are yeah so great so here's the reason why inside the newsletter uh we were taking a look at um the alternative harvest etf mj or the marijuana stock since because in the case of mj so you're gonna like this or you should like this so if we take a look at what it did uh let me get the date out here this was on the trading day of november 19 uh first price was moving lower doing with less relative energy so it's creating that roge momentum indicator pattern it does that it has a bullish reversal candle the piercing candle also it generates a wave number seven count that's letter g so there's two bottoming signals out there and you're now picking this instrument up at its uh at its oscillator and changeline that red line as well as testing a prior bullish reversal signal from december 31st that's where your 1610 level comes from so that looks good um if i take a look at the weekly time frame chart it too shows that roge momentum indicator bottom so mark what we have here is we've got a daily and a weekly time frame for the etf in essence of the marijuana stocks that suggests that a bottoming pattern is in and the monthly time frame we really don't have anything it hasn't traded enough for us to get enough from a signal so we just simply have to rely on the daily and weekly so i do believe that the marijuana stocks are showing bottoms out there and i i like the trade um you know i like the trade i like the trade today the way that it is bounced off of that prior little breakout area from december 31st and right now where you're going to potentially run into resistance is either 1675 or um 1710 to 1736 out there but i i i do like it okay good and yeah um i'm not going to disclose the one that's in your newsletter on the air here but i went ahead and took a position that too as it was bottoming today um and then i realized that it probably looks like it may have taken out your stock but i'm gonna stick with that one as well i think for a little bit yep nope they're they're both good uh they're both good and it's an area in the market as i scan you know 3 000 different stocks and etfs out there it's the one area that stood out that is attempting to form a bottom out here so um yeah so you know the routine inside the newsletter you've got um especially so on on uh on mj specifically uh it's got a 40 cent 48 cent average true range out there so just kind of use your stop should be some expansion of that level out there so best of luck with you on that trade thanks for uh signing up for the newsletter i'm uh looking forward to to working with you yeah thanks they appreciate it you better you bet mark in fort collins not fort mullen colorado out there so let's go back and take a look at the market so we were looking at the 30 minute time frame and so these tools that you and i take a look at these are all tools that you can figure out how to use on your system if you're a subscriber like mark you got the access to archive workshops that will teach you how to do that then of course you've got access to me so you know to the extent that you were trading last night it doesn't matter to me what level what skill level you are uh are at uh these tools are helpful in um in helping you make decisions because we watch them like nothing is going nothing i'm going to be able to share with you works 100 of the time with one exception the thing that does work 100 of the time is before you enter trade is having your exits both at the upside and the downside so it doesn't matter whether you're long or short you've got uh you've got a one cancel an OCO order in your system and that way you know you are most objective most objective before you've entered the trade once you enter the trade out there sometimes it's a little bit difficult to become objective out there we've got a request to go take a look at ticker symbol um CRPB CRPB so let me get that up on the uh screen see what that is CRPB spell it correctly and i did not do that CRPB um SNP nothing is popping up on my CRBP CRBPC uh not only do i go to the tf and n school of typing well that didn't work either i'll get it up before we get back from the spring if you're in the cd market and looking for a secure investment the tiger first mortgage program may work for you the security for these first mortgages are building lots in the tax opportunity zone in st petersburg florida the tax act of 2018 set up tax-free zones across the country where you can build and hold for 10 years and pay no tax on the profits which makes these lots valuable the investment is anywhere from 30 000 to 75 000 the interest paid is 7% yearly paid on a monthly basis according to bankrate.com the best rate for a four-year cd in the country as of february 20th is 3.1% a 50 000 investment at a normal four-year cd rate of 3.1% would give you income of 1550 per year or 6200 over the four-year period that same 50 000 investment in the tiger first mortgage program would give you 3500 per year or 14 000 over the four years what should you prefer 6200 or 14 000 of interest on your investment if you would like more information about the tiger first mortgage program you can call me at 877-518-9190 that's 877-518-9190 if you haven't checked out the newsletters page of tfnn.com what are you waiting for all of the tfnn newsletters are informative up-to-date affordable and a must-have for every trader looking to gain a competitive informational edge in today's markets tfnn newsletters cover every aspect of the markets to offer you the very latest in market news plus new subscribers get to test drive our newsletters risk-free for 30 days from all aspects of the markets including stocks bonds metals commodities and tech there's a newsletter to fit your needs exclusively from tfnn stay informed each day you trade and get the competitive edge that will help you stay ahead of the game visit our newsletters page by going to tfnn.com and click the newsletters button near the top of the page tfnn.com educating investors biotech is booming but for how long whether you think the biotech bull has room to run or has run its course trade labu or labd directions daily s and p biotech three times bull and bear etfs visit directioninvestments.com slash biotech today an investor should consider the investment objectives risks charges and expenses of the direction shares carefully before investing the prospectus and summary prospectus contain this and other information about direction shares to obtain a prospectus or summary prospectus please contact direction shares at 866-476-7523 the prospectus or summary prospectus should be read carefully before investing an investment in the funds is subject to risk including the possible loss of principal the funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor foresight fund services LLC don't forget you can listen to tfnn live on your mobile device 24 hours per day go to tfnn.com and hit watch tiger tv that's tfnn.com and hit watch tiger tv for the latest market information welcome back folks so we're taking a look at ticker symbol CR BP that is corpus pharmaceuticals for s&p inside the tiger's den the specific question was what is the target and my response is we're at the target right now and I'll pull over the chart to show that to s&p now that doesn't mean that you need to exit the trade or anything first on the daily time frame you got a nice wide-ranging bar you're above the daily profile which is 541 you're above the weekly profile at 516 and if price can move above this 614 1516 ish type area where it's trading right now and you'll see the chart when I pulled up on the screen then that says that where your next price target would be would be $7.61 so how does Stevie get there first the 761 is a brand new monthly profile it's bullish and structure out here prices above the center of that box which is 532 so longer term s&p my experience is that once on either a bullish or a bearish structured profile this case here it's a bullish structured profile you're able to clear the center of the box not by a penny or two and you're well clear of it at 613 that odds favor that price that buyers with inside this area which is 456 to 761 now have the energy to be able to push price and should be able to push price up to the top of that profile out there so that's where that now the reason that we came up with this 614 ish 611 ish area is because price is hitting stevie's green line right now no price is just slightly above that and that's really what you want to see now obviously this is a monthly chart and so the body of this candle won't form until whenever the last day of the trading month is i don't know if it's the 31st or not so but you are up at a resistance area and if price can clear this well that just bodes well for what we took a look at that green line is the oscillator on change line i can't go through a complete description of what the other questions that we have on board but that is a workshop that's going to be added to the members page for archive workshops out there i'm going to ask tom to do that next couple of days for us so s and p that would be one way for you to get the all the kitten the full kitten caboodle for that but just know that you're up at a resistance level and clearing that would suggest you'd move up to the 761 area there was a question from john the tiger's den about lights we'd crude let me go ahead and pull that up out here let's do that by taking a look at multiple time frames but primarily kind of focus in on the daily and the weekly profile levels here and what this shows us at the moment right now john i don't recall i don't know your question let me see if i can get it anything pop out of your work leads you to guess guess at 58 60s level to holds or declines so a prices trade at 59 40 so you got so here's what i'm going to really do for you john is there's a new weekly profile that is forming out here now of course we're looking at the february contract and you and i will go take a look at i will punch up here my my synthetic version just to see if the profile levels change but right now let's go with the data that we have the data that we have says you're going to be watching 59 11 59 11 is the bottom of its weekly profile this too is bullish in structure i'll make it a little bit easier for you to see if you're watching this on tiger tv or inside the den just simply by turning price off so as i turn price off now you'll see the current profile you'll see the center line closer to the bottom then it is to the top so 59 11 based upon using the february contract is the key that you're watching the price closes below that well then actually do i have it up here i don't i've got gold up here um let me see this might be the easiest way to do it uh it'll take just a moment to populate and so in that time period i'm gonna have to tell you guys a joke or something like that nah i won't do that we'll just let it populate and i'll pull over my other just my daily time frame chart the daily time frame chart john would it says that today i've got it as wave number seven so you kind of know what that means that means it's more of a top than just a one day wonder to the downside out here but watch that first key level of support on the weekly time frame now the other weekly time frame chart when i say other my synthetic contract now realize that in this um in this set of tools here the synthetic version i could take data back as far as i want to because this is i have stitched together all of the actual tradable contracts to create a tradable version not a continuous contract version of lights we crude so because we've got more data the more data you have this is just simply all numbers this is just nothing more than a numbers game that you and i play out here what we just need to know are the rules of the game and the rules of the game i understand where your p's and q's are or really your your s's and r's your steve rhodes right your your support and resistance levels now in this case here john utilizing this which i think is a little bit more accurate um prices trading below the bottom of that monthly i'm sorry below the center of that bearish structured monthly profile which is at 60 20 so this is suggesting a pullback to about the 56 94 level we take a look at the lights we crude that's what i see at the moment so hope that helps you out those are what steve's tools are suggesting to you and i there are a couple of questions in here so let's try to get to those you've got max wanted to take a look at triple d's out here so let's go take a look at those ddd that's the 3d printer 3d system corp wow what a move it has today what a move it has today up with big volume 3.7 million shares taken out prior highs that had volume taken out a resistance level of 914 on the daily 980 on the weekly and so your question is your long at 850 is a time to sell man i don't i'm not seeing it right now but let me pull up my uh let me get over to my other sets of charts out here and type in 3d systems and see what we've got because you know you're closing it's closing here's what i want you to take a look at the max and congrats on the trade out here i just want you to see that you know prices trading above the top of that weekly profile now granted it's only wednesday so you want to be able to see this on friday you want to see that resistance level fail and then what you've got is you've got an a to b equal cd to the upside if we take a look at the weekly a chart to put that pattern in here our a point is the bottom of the week that began august 12th the b point the week of november 4th and the d point out or the c point of that a to b equal cd looks like the low on november 25th and your one to one a to b equal cd pattern would get you up into the 1162 area so i say hold on to it at this stage don't exit from it here's the monthly time frame chart here what do we see pay your above steve's red line on that so we're good with that says that price can continue moving higher this did form i have this as a wave number seven when it forms its bottom out here you're only going to be in wave number three today or let her see it doesn't draw c on my screen right now but you can see you know you can see where the last notation was b and we're above that level and on the daily time frame yeah i i don't see a reason to sell this max if if it's me and it's just if it's me you may trade differently but if it's me i'm holding on to it uh so uh you know good luck uh good luck with that trade just keep a stop in place just keep a stop and by the way the stop here uh can i give that to you i can tell you the average to range is 37 cents so just 37 times 1.618 less today's close would be a good place for you to put a stop alex wants to see if we've got a price that you would sell alibaba b a b a so in essence what alex is asking for is hey steve where is resistance that we need to consider possibly exiting alibaba we're going to go to a break right now but here's what we know before we go to that break price is above the top of the box in the daily the weekly and the monthly it's looking pretty good it'll be right since 1984 basil Chapman has been using the Chapman wave methodology to advise traders of his expert market opinion while originally hand drawing charts from the late 1970s into the 1980s basil noticed that prices under most circumstances virtually always had a certain number of legs to the upside before declining sharply later basil found that computer software which included the standard market technical indicators enhanced the degree of accuracy and calling price turns as well as market trend calls thus was born the Chapman wave sequence using the Chapman wave methodology along with other indicators basil Chapman advises his subscribers of his expert market opinion each market day with his opening call newsletter right now you can get a two week free trial to the opening call basil's daily trading newsletter by visiting the front page of tfnn.com cancel it anytime during that trial and pay absolutely nothing get your two week free trial to basil's newsletter the opening call today by visiting tfnn.com if you're a trader 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of tfnn.com this is david white stay tuned because coming up next is the power trading hour right here on tfnn welcome back folks so we're taking a look at alibaba for alex and alex what i have out here you've got a confirmed a to b equal cd pattern on the weekly time frame the b-point which was the week that began april 29th at 67 million shares that was passed on november 25th the week that began november 25th with twice the volume 122 million shares now price should continue to move higher i'm using the weekly time frame out here to give you the next price objective approximate price objective because you're above the one to one level now be 23184 now in between now at 220 and 23184 you see some type of bearish reversal candle you're going to be after you're going to have to be very careful because that could be then confirming i sell the d-point in that in essence is what you were looking for the daily time frame i'd mentioned that price was above all of those profile levels out there the daily time frame as we pull this open price is moving higher with less relative energy out there so again on the daily time frame you'd be looking for some type of bearish reversal signal but even if you get that price may only pull back to test support the lowest level of support well the lowest level be 1955 on the daily that's its most recent breakout area above that is 20905 then you've got the 214 and 216 areas the center and the top of the box out there so Alex i'm going to suggest that to you as you simply stay put on this position all looks good right now watch for the bearish to show up they cannot hide if we take a look at the new york stock exchange real quickly we can see that advanced client oscillator back above zero combined with the spot follow till next below its 50 day exponential moving average which is 1365 right now it is trading out at 1329 these are all signals that prices should continue to move higher at least the s&p 500 if we take a look at those profiles though the s&p 500 needs to clear close above 3263 50 that's its resistance level but the nq the leader of the gang is above the top of that weekly box 8907 8907 in a quarter so all things point to higher prices folks thanks much for being here stay tuned your favorite polar bear david whites up next after that tom will brian to take us on home and i'll be back with you on terrific thursday have a wonderful one stay folks