 The following is a presentation of TFNN. The Trader's Edge with Steve Rhodes. Toll free at 1-877-927-6648 or internationally at 727-873-7618. The Trader's Edge. Now, Steve Rhodes. Good afternoon from TFNN. Welcome to the July 15th, the magnificent Monday edition of today's Trader's Edge show. I'm your host, Steve B. Perseverance Rhodes, who absolutely knows that each of us should always be pioneers of our future versus prisoners of our past. That's right, folks. Hope everyone out there is having a great day. Hey, how about we have an extraordinary one? Yep, let's have an extraordinary day. The easiest way to do that is to always remember that life is happening for us. Not to us. That's right, you and I make that one little two-by-four shift. It means we can find the gift in every set of circumstances that life is going to toss at us. Today, you and I, we're going to go check on the circumstance of these markets. We're going to go figure out what the bulls and the bears, what those buyers and sellers are communicating to you and I just passed one o'clock in the afternoon. I want you to know that I'm absolutely grateful for your presence here, but way more important than that. During this next hour, I'm here to serve you, so feel free to pick up that phone. That's right, you can dial on it at 877-927-6648. If you can't dial in, we've got you covered. Yep, let those fingers do the walking. You can send me an email, Steve at TFNN.com. Inside the subject heading, please put radio show question in the Tiger's Den. Well, any ping will do. So let's go ahead and get this show started on Magnificent Marvelous Monday. Of course, this is Tiger, Financial News Network. I'm Steve Rhodes. Welcome to LUS Show right now. The Dow trained down 30 points. 27-301 is the print. S&P is off four. NASDAQ 100 is flat. Russell is down six tenths or percent. The leader to the downside in the XY's. That's nearly nine bucks. Ten dollars, really to the downside. Semi's are up seven. Five, about half a percent to the upside. New York Stock Exchange trading down 13. Wilshire off 55. Spotball utility is up 4% or 50 cents. Trading out at 12.89. Still below its 50-day exponential moving average. Gold's up a buck. Silver 12. Penny's Lights recruit off 55 cents. Lee, the charge is the upside dollar-wise. Individual, stock-wise. Gold is a Galapagos up 17%. Not sure what's behind the move, but up 25 bucks. Trading out at 171.10. CyberArk software up eight bucks or 6%. Broadcom up a little over 1%. Or three dollars and change to the downside. It is Domino's Pizza. Down 13 bucks or nearly 5%. Netflix off 3%. That's about $11 to the downside. Surcor international down 14%. Or about six buck of Ruins. So great to be back with you. Always good to take a little bit of time off out here. So what are we looking at? Really interesting trading sessions. Let's start by this. For those of you who haven't been around since Tuesday, out here, no new market profiles or anything. So if we take a look at the daily, I don't have the weekly up here right now, but the daily, we can see the price careened above the daily profile out here on July 11th. Actually July 10th inside the NQ. July 11th inside the Dow. And so when we are above profiles, we don't see any resistance. We've got to ask ourselves, well, where's the resistance, Stevo? So let's go take a look. Let's go here from the equity futures contracts, which we are looking at. Just switch over to the monthly charts for the Dow, the S&P, the NASDAQ, and the Russell 2000, the four indices that each of you may trade out here. So interestingly enough, we had suggested a long time ago when we drew this trend line in here that we're still in a consolidation. We would be in a consolidation. I'm looking at the Dow on the upper left-hand chart. Let's just simply go ahead and expand this chart out here. All you and I did was connected the dots. That's all we need to do. We don't need to make trading investing any more difficult than it already is. And we just simply connected the dots from the January highs in 2018 to the highs in October of 2018. You can see we're trading right on that trend line. The month of July is not over. It doesn't matter to me whether we're just slightly above it or that we've peaked above an employee. But here in the Dow, it is clearly, at least in my eyes, clearly at resistance. Something to think about. If we take a look at the NDX100, you'll see we're just trading slightly above its same potential resistance line. Now, in this case here, we're only connecting the dots, the highs from October in 2018 and then the highs from April in 2019 out there. So this is also the NDX100 trading into resistance. If you take a look at the S&P 500, close but no cigar, close enough for your work, close enough for my work, even if the S&P moves a bit higher, it too is going to run into resistance. Again, by the trend line that began in January 2018 and then you just simply use the September 2018 level out there. Connect those dots and you can see the trend line. So what does that mean? Well, it means, hey, longer pen, by the way, in the Russell 2000, not really much for us to look at. This thing has been able to budge above the February 2019 highs out here. So just consolidating sideways at the moment. So what do you and I know? You and I know we drew these trend lines in here. We knew that this would be or could be an area where the market may find a top. We're in a consolidation pattern out here. And so that says that you and I need to be on the hunt, need to be on the lookout for those types of signals out here. If we take a look at the New York Stock Exchange, you and I, we had been paying attention to the mere fact that the New York Stock Exchange was making higher highs, but doing it with a declining, advanced decline oscillator out there. Now just saying that doesn't mean anything. But if you go back and you review the chart of the New York Stock Exchange and you lose, you just use those two tools alone. When you see those divergences, you know they can lead to some type of retracement or something more substantial than that. Now more substantial than that always gets moving, always gets rocking, always gets rolling when the spot volatility index is above the 50-day exponential moving average. We're not there yet. We're not there. We may not get there. That level is $14.89. That's at 50-day. You're trading right now at $12.89. So $2 below that area. Not suggesting we're going to get there today, but it is something to keep an eye on. Now the advanced decline oscillator is still just slightly above zero. The reading is 18 and change out here. If that gets below zero, then that says, hey, you've got some type of retracement. This is definitely, or should be, definitely underway. Now if we take a look, can we step back from here in the New York Stock Exchange? Because this is not going to generate any kind of topping signal for you or I. It is a weather report saying you better take the umbrella because it could start pouring. However, you and I use a set of tools out here to help us identify when the markets make tops and bottoms out there. We keep it relatively simple. One of the patterns is the road's momentum indicator signal. Price moving higher, doing less route of energy, which, by the way, the New York Stock Exchange, as it made a slightly higher high this morning, did just that. Now, so we've got signals at the market. You and I just took a look at the indices that we are near a high, or should be near high. Now the market needs to communicate to you and I. That's the responsibility of buyers and sellers. We don't get ahead of ourselves out there because if we get ahead of ourselves, we could be doing the right thing at the wrong time. And when you do that, it's like you're out of control. You're driving, the car is spinning. Your eyes focus on the tree when they really should be focused on the open road ahead because if you focus on the tree, guess what you're going to run into? The tree. So what we and I do so that we don't spin our car out of control and focus on the wrong thing, we focus on the right thing. And that would be some type of bearish reversal candle today. We don't have it just yet. But if we get a close blow of 13,000 20244 in the New York Stock Exchange, it will signal a top. Now you can't trade the New York Stock Exchange. We'll go look at the other indices. We get back from this break and any other questions that have come in. This is Eroge with TF&M. We'll be right back. Over 2,500 global financial markets such as stocks, ETFs, commodity futures and forex. Heated by Steve Dahl, Taz understands that in today's technological world, the use of top flight software applications and technical analysis expertise is essential to successful trading in today's market. You also gain access to the webinar that Steve Dahl and Tom O'Brien just hosted, the best way to use the Taz profile scanner to profit. This webinar archive is available for all subscribers immediately upon signing up. All new subscriptions also come with a 30-day money-back guarantee so you have nothing to risk. 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 $1,550 per year or $6,200 over the four-year period. That same $50,000 investment in the Tiger First Mortgage Program would give you $3,500 per year or $14,000 over the four years. What should you prefer? $6,200 or $14,000 of interest on your investment. If you'd like more information about the Tiger First Mortgage Program, you can call me at 877-518-9190. That's 877-518-9190. Tfnn has launched our brand-new website. You can still visit us at the same tfnn.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 own website. Tfnn has launched our brand-new website with a brand-new website. You can still visit us at the same tfnn.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 tfnn.com now and experience all the upgrades. tfnn.com, educating investors. Call now. Toll free at 1-877-927-6648. Internationally at 727-873-7618. Welcome back, folks. Hi, the Tiger's Den from SM out here. Take a look at Kroger. Kroger once had a job back in groceries back when I was 15 years old for Kroger. Kind of interesting to ask me about Kroger because it was right off the expressway. It was off, I believe, a telegraph road way out in Dearborn and the expressway out there. I remember the expressway had opened up and there was a car that did spin out of control. And ran right into a telephone pole. It was off the expressway, so it was in the, you know, the merge onto lanes or what have you. Just rip the car in half out there. And really, when you are spinning out of control, many people will focus on, well, literally there's studies out there. If your car is out of control, many people will focus, their eyes will shift to some object like a tree. Have you ever run across, have you ever seen a car that's hit a tree? And that was the only thing that was in sight, you know, for hundreds of yards out there. So makes, you know, as Tom says, what you focus on grows. Well, there is nothing more truer than that. So focus on the positive. But in any event, with regard to Kroger out here, let's begin by taking a look at our three TAS market profiles, the Daily, the Weekly, and then the Monthly, which are on the right-hand side. We also happen to have the Quarterly. Now, SM doesn't have a position inside of Kroger. We can see that on the Daily chart out here, the one on the very left-hand side, there is no center of the box, meaning no cyan-colored, blue-colored line. That's because it actually is there. It just happens to be at the same price point as the bottom of the box, at $21.56. That should be really strong support out there. The price is trading below the Weekly profile and maybe trading all the way down into the Monthly level of $20.81. So this is what I would suggest to USM just in taking a look at these charts here. If you're looking to get in Kroger, I would say maybe just wait, maybe, maybe just wait. But 2081, you're trading at 22.02. Maybe it's a long-term position. I don't know. 2081 should be pretty good support. But let's go take a look at our other charts. Let's try to figure out, did we take a look at this Daily chart? Was there any kind of bottom signal? We take a look at Kroger. So let's pull over our Daily chart. Let's go take a look around here. And what we can see here is as Kroger was making its lows in the Daily timeframe, right around June 26th, it did it with a TD set up nine count. But my eyes see that there was a slightly lower low on July the second out here. But what we can also do is we can use our wave count tool. So the high I'm going to use out here, because it's the one that's on my screen, from back on February 28th out there, if we just start doing our counts to the downside from there, we're going to see that that little bit of a lower push below that TD set up nine count actually took us to wave number seven letter G, which we know on a daily basis is a bottoming signal out there. And therefore you had two of them, along with a daily bottom of its box and center of the box right at that same price point. So really strong. Now, would you go ahead and enter a position inside of Kroger today based on that, knowing that today is going to be day nine of that TD set up nine count. And the answer, my friend, is absolutely positively not. Because we've really had very little movement off to the bottom. And now you've got a potential topping signal that is in play out here. And so therefore this says ASM. Stay away for the moment with regard to that. If we take a look at the weekly timeframe chart, any bottoming signals out here, well we can see that from a weekly standpoint it's gotten to wave number six letter F. So maybe a slightly lower low would be helpful there. Until price gets above 2252, you don't really want to touch Kroger unless there's some solid bottoming pattern, which we already had. We definitely had that on a daily chart, but not much in the way of movement. And now you've got a potential topping signal out there. The monthly chart out here really suggests that hey, a slightly lower low between that lower low would be, but between the low of October in 2017 could get us to wave number seven as well out there as well as it looks like on a monthly basis would be TD set up eight count out here. So I would just sit tight, SM. I would just simply sit tight. Let's go to our first caller. It's Ron in Denver. Ron, thanks for calling. Thanks for holding. How are you today? Great, Steve. I want to look at AMR on AMRN. If you recall a couple weeks ago, I mentioned that Miguel had taken that you know, she went to the doctor and asked her their drug for high reducing her cholesterol and high triglycerides. Yes. Her triglycerides dropped from 2,300 to 230. That was a medical miracle. Anyway, I bought some options on the stock. Ran up to 23. No, I'm here. I'm listening. Anyway, it came back down. I got out again because one day it jumped up three and a quarter. Somebody wrote it up, but I got out and I'm trying to get back in or looking to get back in. How do you know where's a good spot to get back in and what kind of a time frame do you look at? So great question out here. And you know, to begin with, just to get a feel for what ticker symbol AMRN Amarin Corp is doing, you know, we can just take a quick glance and see our daily, our weekly and our monthly time frames. Now it's our daily time frame here that gives us the most information, I would say. And that is that prices trading within a bullish structure daily profile, bullish in structure because the center of that box, that's where both buyers and sellers believe there's fair value is 2219, but prices below that. So if that was fair value, the buyers should have been able to hold it up. Looks like sellers here run are going to try to push price down to the bottom of that profile at 2105. So that may be, may be a spot where you would find an entry point. Ideally, you know, you would, you would see some type of other bottoming signal other than just a test of support. But if we take a look at the, this daily chart out here that I'll put up, I don't really see a, a topping signal per se. I see a consolidation pattern. You and I talked about that last time and price in essence has remained in that consolidation pattern. And there becomes the real issue. You and I don't know because price is inside this consolidation, I'll just simply here, go ahead and kind of mark this off here. Here in essence is our consolidation. We couldn't bust it to the upside. Is it going to bust it to the downside and come all the way back into the $16 level? But the answer to your question with regard to where would you take that initial entry on an attempt again? I would have to say 2105 at this stage as long as price remains below 2190. And then what you can do is maybe take a look at volume. You see, there was a breakout so to speak because there was this gap to the upside on July 2nd had volume of 42 million shares. Friday's pullback was 6 million shares. Today you're about 3.5, so maybe another 6 or so. So volume is pulling back. So it's the 2105 area, Ron, that would give you that signal. If price closes below that, then you and I have to wait for some type of pattern. Now it may be a TD set up 9 count pattern. I don't know what pattern. It might be that would unfold. We just have to wait and see if price would break below 2105. What pattern is it that's forming? Maybe it's an A to B equal CD pattern, which would set up a currently buy. But until we get there, I don't know. So I have to say to you that the answer is 2105 would be the first place that you would take a look at it. You'd certainly like to see volume decreasing as price pulls back to that area. It's not that far to go, only less than 70 cents to the downside. So that's what I see out there. Does that answer your question? Thank you much. Yeah? Okay. Thank you. Great. You bet. Good to hear from you. That was Ron in Denver, Colorado, Amron Corp. AMRN is a ticker symbol. Steve Rhodes with TFNM. Be right back. I'm Steve Rhodes, 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&P 500 for the last 12, 6, and 3 months. Timer Digest also ranks me as the number one market timer for gold as well. The fact is, markets can be timed. And I'll teach you the exact set of tools that I use that has transformed 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 TFNM.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. 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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 Chart 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. So, let's see here. Let's go back to the markets. We've taken care of the questions that have come in thus far, but I would love to hear from you, 877-927-6648, or send me an email, Steve, at TFNN.com. So, back to the indices. We had just really taken a look at the New York Stock Exchange, and we're watching for potential top-out here, because, well, for several reasons, but when we take a look at the daily charts, we see some significant patterns on there, at least notable patterns worth paying attention to, especially in light of the resistance levels that the indices have hit out there. So, the New York Stock Exchange, we know what we're looking for there. I provided you with that number. For the S&P 500, we have the indicator signal still intact out here. Now, it's iffy, because if there was some real strength to come in to the close, they had 4 o'clock, that pattern could disappear. But at this stage, let's go with what we have at 1.31 in the afternoon. We can see that price moving higher, with less relative energy, always worth paying attention to, especially if there was some type of bearish reversal candle to form. As we speak just yet, yes, the candle is red, but that doesn't make it bearish. There is no bearish reversal signal. If we're to close below the open, most certainly from Friday, then you'd get a bearish engulfing candle session out here. We'll watch 2997-26 to be exact. That would be a key level of support that if broken, I would set up at least a retracement, if not a move back to the breakout area, which is 2762. Yeah. You don't hear that too many places. But to hear it here during the Traders Ed Show, we're not there yet. First things first, right? First things first. We've got to keep our eyes glued in the right spot. Not the tree. Just the right spot. Just pay attention. Let the market do its thing and communicate to both you and I out there. What else are we watching? Well, we're watching the Nasdaq 100. What do we know about the Nasdaq 100? Well, we know that today could be the high of today, could be the high in the market. Why? Because it completes a Tommy DeMark set up nine count. Now the nine count bar was Friday. We know that a top or a bottom can form the bar following bar nine. For example, in the NDX 100, it was the bar following bar nine that formed below back in June. Makes sense that it might form the pattern that forms the high in July. Hey, how about that? Now the key level here in the NDX 100 is really going to be 77, 35, 67 on any pullback, because that's where really price broke out. And it's that timber to the downside out there. So we'll watch the NDX 100 tomorrow if it makes a higher high out there. Then that negates the pattern all together. The pattern will exist. It will have completed. It already did that on Friday, but it won't confirm the topping signal. So there you go inside the NDX 100. What else do we have going on inside the market? Well, to take a look at the transports out here. The transports are where? In wave number seven. Wave number G. We take a look at that on Stevie's chart. Now, this can continue to extend out there because wave number seven was actually Friday, but today was a slightly higher high. So it's now today and you don't confirm wave G until you make a lower high in the market. So we won't really know about this until tomorrow, but nonetheless, we are on Stevie Wonder singing in the key of G mode when it comes to the Dow transports. And then let's take a look at the Nasdaq composite on Stevie Wonder singing in the key of G. Just take a look at the Nasdaq composite. Now, the Nasdaq composite on Friday completed its TD 79 count pattern. That is no longer going to be the pattern that would identify the top out here. Why? Because today is a higher high. Friday's session was the bar following bar nine, but don't fret out there. You see the previous high that was made inside the Nasdaq composite, which took place back here in April. Well, guess what it was formed with. That's right, singing in the key of G. Can't it do it twice in a row out here? I don't have the answer to that, but we'll have the answer to that soon. We're still in wave number seven. That'll continue until you see a lower high. So the earliest possible confirmation of that would be tomorrow. But we kind of get the gist. We don't know. Now, look, these patterns they haven't confirmed they could fail. And if they fail, what does that mean? The price headed higher. In fact, these are momentum patterns. And if these momentum patterns fail, it just says the market should continue to moment to the upside. We can try to figure out where those prices are, but let's not focus on that because we're just simply not there yet. Now, if we take a look at the other indices, we don't have those same patterns in play out here. What do you mean? We don't have those same patterns out here. I mean, we don't have those same patterns out here. Now, you can see that this is only in wave number four. That's letter D. No TD set up nine count anywhere near completion out here. You're only potentially in day number three there. So inside the Dow, we're going to have to find some other signal because it ain't there on our daily screen. But the other markets, it might get the message. It might get the memo out there from the S&P or the Nasdaq or the Nasdaq Composite or the New York Stock Exchange. You know what I mean out there? And if you don't, I'd just say, now, you know, you're probably sick and tired of hearing this. You know how Stevie says gold is made a fairly significant top out there. I know I'm just one of one, I believe, because everybody else is saying no way Stevo. Okay. Well, you can say no way, Stevo. Maybe I'm dead wrong. If you take a look at the XAU though, interestingly enough, we can see that it is beginning to form indicator topping signal just as it did down here at the bottom want to confirm with the bullish engulfing candle we don't have a bearish reversal signal yet prices just trading slightly below Stevie's green line but this says be careful be careful you've got topping patterns in the XAU as well not confirmed but you want to be careful so let's see what else do we have out here that we can take a look at I think that's kind of it and no other questions that I see out there and so so I don't know where what it where else should we look let me just see if there's anybody was written in that has a question out here no it's quiet in it said I look at oil Tucker I did not look at oil so because Tucker asked to look at oil let's go look at oil what are you doing with oil tuck tell me what you're doing and we'll try to help out so let's go take a look at the I believe it is the August contract for a light sweet crude that we are trading right now so let's go take a look at it trading out at 59 62 we just simply take a look at profiles out here nothing at the moment alright we take a look at light sweet crude here's what we know there's a brand new profile that formed today inside of light sweet crude and prices above that level 5898 is the top of that buck typically that is a bullish signal here for light sweet crude typically it's a bullish signal for light sweet crude if price gets back below 5898 that's the number you'd be watching here Tucker then that state something that should be bullish wasn't bullish that would suggest to me now it's a bullish structured daily profile that price would move down to 5653 to 5751 the center or the bottom of its box out there but I believe let me see if I still have it up on my screen out here I was just had a quick conversation about light sweet crude earlier before the show went on and if I take a look at this daily time frame chart for light sweet crude looking for some type of topping signal I don't have it I see it is in wave number four letter D we know that significant resistance exists up at 6302 we know that when it did form a topping signal which was after bar number nine right out here you see letter C on it price pulled right back to support that held 5607 this chart here doesn't show the new profile the e-signal chart does so that's one that we'd pay attention to so Tucker I don't see a reason to take a new position lights we crude to the upside or really quite frankly to the downside as we speak just yet Steve roger tfn 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 we 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'd 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 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 that 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 lab you or labd directions daily s and p biotech three times bull and bear ETFs visit direction investments dot 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 principle the funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor for 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 for the latest market information welcome back folks and I overlook something that one of our The agent of the meeting is John and the Tigers Dan Mr Z had posted in the Den so and that is that that today if the S&P closed above three thousand to that it'll create a Tommy DeMarco sequential signal out there won't generate necessary the cell signal but it would be a a 13 count out here in and John I would also say it would be a TD combo. you know, you know, you know, you know, you know, in the sequential system doesn't show up as often as the nine count. So I primarily focus on the nine count for the show and inside the newsletter out here. But but here in the S&P 500, you could have two patterns. In essence, completing. That's the same time. You've got Stevie's roads momentum indicator signal, perhaps a TD sequential cell signal out there. You know, you know, basically since it looks like about June the fifth or so, what was the actual date? June the fifth. Pretty good guess. And so a close below that line would suggest that. Okay, there's some type of some kind of retracement top that would be in play. Now we'd say top in this case here because of my signal, Tommy DeMarc's sequential setup out there. So no other questions that are out here. So, um, you know, let me kind of go back because because Ron had asked a good question. I don't know that I fully answered it. I tried to answer it specifically for his for his stock that he was taking a look at. And that is, you know, how do you know when to buy in topping or bottom signals? In essence, in this case here is looking for bottoming signals or when do you know and kind of on the topping. So it's kind of along the same path out here, right? So we're looking at daily charts and we're taking a look at all these potential signals that are out there. But how do we know if they're going to come into being or not? So when we get to the bigger picture, I don't look, I look at all timeframe charts out there, but I step back and say, Well, if the daily is generating a signal, what's the five hour chart doing is a five hour chart generating, you know, just kind of stepping back first going to shorter term kind of stepping back a bit out here. So, you know, because you and I both were 25 hour days out there and it sounds impossible, but you and I, because we're so efficient, we can squeak out another hour in the day, especially because of daylight savings time, right? Yeah, if you move back an hour, where did the hour go? Right? So you and I were working 25 hours, so you've got a five hour chart, five times five, you got 25. Of course I'm being facetious, but I'm not being facetious about using the 300 minute chart out here, specifically for the futures contracts. Don't use this, go ahead and use it if you want for the indices and ETFs that are in essence trading in a six and a half hours or individual stocks. Don't do that. Don't do that, but here, here's what we can see. So if we do take a look at the EES mini out here, it has formed a TD set up nine count and prices now trading below Stevie's green line. That's at 3,018. So this is giving us a signal. Now this signal here may just simply be a pullback to where price most recently broke out and inside the EES mini for the five hour time frame, that's at the price point of 29,92,50. That would be the number that you would be watching any move below that and price heads back to 29,65,75. So the five hour time frame chart for the EES mini, not that we don't need to worry about the wave count out there, a TD set up nine count pattern that appears to be confirmed this bar is going to complete at two o'clock, so another 14 minutes, probably relatively safe. If we look at the five hour time frame chart here for the NQ, we're going to see the potential of a beautiful butterfly. Now the real butterfly Stevie had would have completed around 8,034,50, but this is more of instead of a butterfly, this is more of a three drive to a top type of pattern out here. We don't have the, we actually do have a bearish reversal candle just yet, but in this case here, because the bar of the nine o'clock time frame bar was so small, and this bar is relatively small, I don't know if we're going to get that signal or not out here. So it's very close, but on a five hour time frame, you've got the three drive to a top inside of the NQ, so two five hour charts are suggesting, okay, pay attention, pay attention, don't take action, pay attention, let the market do what it's supposed to do, don't guess the market, I don't want to guess the market, because I can't, I can't control what the market can do. What we can do is say, hey, there's a certain set of signals that provide you and I with an edge, a higher probability of taking some type of aggressive action, and you do want to take aggressive action at the early stage of a trade at a bottom or at a top out there, because your risk reward is the best out there, but I'm still suggesting don't back up the truck just yet. Now we talked about the Dow and how the Dow on a daily basis did not have a pattern, a topping signal or pattern out here, it doesn't have a pattern. If we do take a look at the five hour chart, this is as opposed to a three drive to top Stevie, this is a butterfly cell pattern. Now the butter and a TD set up nine count pattern out here and which all were both were confirmed with a bearish reversal candle, the old the dark cloud cover, as two bar reversal candles go, it's one of the weaker ones, but you're getting follow-through, so I like to see follow-through to confirm a pattern, we're going to take a look at this case here, you'd want to see a close blow 27263. Not necessarily at two o'clock, but by at some point, maybe by the end of the trading session this afternoon, a close blow 27263, at least the five hour chart would be saying, okay, cyanara baby, here's the pattern that's in play and price is going to go down and test or should test 26910 out there, that is where price most recently broke out inside the Dow for the five hour timeframe, so again, the five hour timeframe, the ESNQ are showing us signals out here. The Russell 2000 isn't any place for UNI to get signals right now, because they just aren't, they just really aren't out here, here's the five hour timeframe, really nothing much here to identify any type of top or bottom, there's nothing on the daily timeframe out here that identifies a top or bottoming pattern, so the Russell 2000 is not the place for UNI to be focused on in looking at the ESNQ, it's just, it's not there. So that's what I would look at. If I go to the short term timeframe charts, I just don't have an edge here just yet inside the ESMini. If I look at the ESMini, here's what it's doing on a 30 minute basis, we're looking for a bottoming signal out, we might be there with the TD set up a nine count on a 30 minute basis, so that says if the lows of today get taken out, this bottoming type signal here would have been at prices likely headed back to 3550 out here, but you need to see a failure of this pattern, we don't have the failure of that pattern just yet, but we might get that before the end of the trading session today, so today's close could be a more important day out there. So that's all that Stevie's really got out here as I take a look at the market, so let me just check real quickly see if there's any other questions, if you've got questions in the den, fire away, actually looks like we're going to go to the two minute wrap, we've got about another 10 seconds, so Nick has a question, let's try to take a look at it, can you look closer at the Dow at a small time frame, and can I take a look at the DAX? Well and the Dow itself, here's the Dow through the equity futures contract out here, you've got this TD set up nine count, again Nick, it's the low of the day, it's the high of the day, we've got a bad close coming in, we have bad close coming in the close, really terrible language out there, expect 27 to 16 to be at the level where the YM would head to, that's your short term chart. We'll be right back. 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 was 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 in calling price turns as well as market trend calls, thus was born the Chapman Wave sequence. 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They have been called miracle molecules because they need to be healthy and thrive. We take it every morning. Primal edge formulated and approved by Nico and Page of living a primal lifestyle. Buy it today for just $89. Click on the primal edge banner on the front page 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, Dick also wanted to take a look at the time frame chart. This is the weekly time frame chart here. And what we notice is that when it formed its high this is back in early part of July out here a couple weeks ago. What we can see is it did so with wave number seven. That's letter G and since then we've seen a pullback on a weekly chart 12 225 is going to be its level of support. If it gets below that, that's Stevie's green line and that is going to be our main signal per se on the daily time frame out here, Nick, but we, you know, the importance of showing this is we've shown a couple of charts during today's show that are in wave number seven letter G out there. And so you just really want to pay attention. They don't always turn into tops or bottom. If they did, I would just tell you to back up the truck and fire away right now in those indices where they're present, but like the transports as an example, but that's not how you and I can trade or should trade out there. So let's just do it. Sing today's close is going to be important tomorrow. Session is also important out there. This is the weather man just simply looking at the charts. We've got the super Doppler up. It's just saying, you know, be careful out here in the markets. These patterns may not come to fruition. Look, the volatility index is still well below its 50 day exponential moving average out there. Um big symbols. Here we go. The 50 day exponential moving average is at 14 89 where 12 85. The meaning there is just simply that there's plenty of liquidity inside of the marketplace. So we spent the hour here taking a look at what the indices are doing, what things to be watching for. We've looked at the five hour timeframe charts inside the equity futures contract. We're looking for signals will probably have a much better idea tomorrow at one o'clock, which is one o'clock, which is one o'clock. Because it's an amazing line at my favorite polar bear, David White. He's up next, and then you got Obi one Kenobi. He's up from three to five. Stevie's son. He'll be back with you tomorrow 1 p.m. So have a terrific Monday. Really marvelous Monday. It will just have a terrific Tuesday when it gets here. Take care and see you soon.