 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 October 7th, the magical Monday edition of today's Trader's Edge show. I'm your host, Steve. Perseverance Rhodes, who absolutely knows that each of us should always be pioneers of our future versus prisoners of our past. Hope everyone out there's having a great day. Hey, let's make sure we have an extraordinary one. And the easy way to do that is to always remember that life is happening for us. To us? That's right. When you and I make that one little two-by-four shift, it means we can find the gift in every set of circumstance that life is going to toss at us. Now, today, you and I, we're going to go check on the circumstance of these markets. We'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 much more important than that. During this next 60 minutes, I'm here to serve you. So feel free to pick up that phone. Phone lines are open 877-927-6648. If you can't call in, we've got you covered there, too. Let those fingers do the walking. That means just send me an email, Steve at TFNN.com. Inside the subject heading, please put radio show question. Of course, in our Tigers Den, any ping will do. So let's go ahead and get this show started on magical, magnificent Monday. Of course, this is Tiger, Financial News Network. I'm Steve Rhodes. Welcome to LUS Show. Right now, we've got the Dow off 30 points, trading out at 26-542. S&Ps off three at 29-48. NASDAQ 100 off two points. Russell is up two points, trading out at 1502. The transports are also up 15 points. It's really a flat market, but 10-044. The other indices, the New York Stock Exchange, Wilshire. Semi's are off just slightly out there. SpotBallatillDix is trading above its 50-day exponential moving average. Print is 1728. You've got gold off $7.70. Silver down seven pennies. Lights we crewed up 52 cents. Natural gas down about two cents. Lead that charge to the upside. Ring central. It is ringing the bell at $10.50. The upside 17380 is the print. That's six and a half percent. Restoration hardware up $7.00 and changed, four percent. She's trading out at $177. Crowd strike holdings up five and change, eight percent. Moody's Corp up five. IAC Interactive up five. To the downside, it's booking holdings. Dollar wise, 27 bucks in change. Little over one percent. Mercado Libre off 11. Nearly two percent. Chipotle down 10 bucks. A little over one percent. Alt-the-Beauty down about three percent or seven bucks in change. Of course, I want to look at what you want to look at. at no request thus far. So let's go take a look at the general indices, get a feel for what's going on here. So if we take a look at the, what do we start with? Let's start with the ESMN. Let's take a look at a 30-minute timeframe chart. What is it communicating to you and I? Well, it's communicating that it wants to pull back. Pull back to where? Chances are it wants to pull back to the bottom of its 30-minute profile. That's 29.36. Now, I know you might say, how can you say that's D? That's another 10 points to the downside. Well, the reason is because the way that markets make tops and bottoms, not all tops and bottoms, but one that when you see this pattern presence, rose momentum indicator pattern out there. I had a top or a bottom. You pay attention. Well, if we take a look at what took place at 12 noon, we had price moving higher, doing less relative energy. Then as we came into the 12.30 timeframe, we had that bearish and golfing bearish sash candle form. Now we've got price trading. There was a new profile that formed just as we came on the air. I had one o'clock bearish in structure. Price is trading below its oscillator and change line, Stevie's green line, as well as the center of its box at 29.48. That makes the call relatively easy. The sellers should have enough pressure to go move price down to support. Again, that level is 29.36 on a 30-minute timeframe. That's the ES mini. Let's go take a look. Does that mean that the high is in? It's possible, but does not mean that just yet price needs to break other key levels of support. If we take a look at a 60 minute timeframe, really doing the same thing out here. It formed its bottom on the one hour timeframe with the rose momentum indicator bottom, that nice hammer candle. And now we've got a topping signal on the same 60 minute timeframe that rose momentum indicator top here says a price should move down to 29.35 to 29.38. Doesn't say that support doesn't say that price will stop there. Should. It's a bullish structured profile unlike the 30-minute box that we looked at. But if we were to see price close below 29.35, what we'd be looking at is 28.96 to the downside out here. That is where price most recently broke out. We've got a caller on the line. Let's go out to Brent in Martinez, California. Brent, thanks for calling. Thanks for holding. How are you today? I'm doing just fine, Steve. How about you? Doing well. Also, do you have a nice weekend? I did. That's kind of the one time I get to spend time with my wife. She's a teacher, so she's pretty busy during the week, and she's inquire, and she has other things that she's doing. So it's just that's kind of our time we get to spend together. So I do enjoy that. And yeah, it was great. How was yours? It was nice. A couple of good rounds of golf. I wish I could put two nines together. That would be nice, but I'll just take whatever it is that the golf gods want to give me. But yeah, always, you know, the weekends are great. And what's really nice about it for me is I typically will just turn the machines off, so to speak. And this time of year is my favorite, Brent, because I love college football. I love sports altogether. So it's just ideal with the pennant going on for baseball. You got college football. You've got the NFL football. You got hockey going on. For me, it's just like it is. It's a wonderful thing. But I know we didn't even call to talk about sports, but I do love Saturdays and Sundays out there. So what can I help you with? I was just calling to comment about I saw that latest update you sent out around 10 o'clock. Yes. And I just I like the direction you're going. Absolutely. I think it's going to be a big benefit. And I definitely appreciate you. Putting an extra time and effort to make that happen. I guess the one thing I would ask you, do you have a are you going to kind of focus on the normal stuff that you look at as far as the like the yes, many and the Dow and those and then like gold and oil or is it going to be an overall kind of no. So yeah, yeah. So so nothing will change with regard to the newsletter, per se, what I try to get out in the afternoon after the market closes as well as what goes on in the morning. So all that will remain the same. So one of the things that I'm asking for subscribers like yourself are, hey, here's a direction I'm going into assist us with identifying more trades. Folks, I would I would post I would post on the screen if I could right now what Brent is is talking about. But but that was actually coming off of my laptop where I'm doing some development at this stage. But it's a we look at during the show here during the day, we look at we look at certain patterns that identify tops and bottoms. And to me, that's what it's all about in trying to find those new trades out there. And so those new tools are really intended just to do that. And then it comes down to the information, you know, do you as a subscriber want to see any of that in the newsletter is an additional item, or do you just want me to do all the scanning myself when I see those tops and bottoms just make you aware of those trades. So that was but the intent was also just so no changes to the normal stuff of being able to understand the message of the markets. But also to say, hey, there's a lot of other trades out there that we could be taking. I just need some extra hands on deck, and that's going to be the automated scanner tools out there. Hey, can you hold on through the screen? Thank you very much. Thank you again. Thanks for all your efforts and and you have a great week. Perfect. You too. Thanks Brent for calling. We'll be right back folks. If you're not currently using the TAS profile scanner when looking at setting up your trading opportunities, then your arsenal is short a mighty weapon. The TAS profile scanner is a standalone piece of software that instantly filters over 2500 global financial markets such as stocks, ETFs, commodity futures and forex. Headed by Steve Dahl, TAS 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 TAS 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. Start your subscription by visiting the front page of TFNN.com today and you'll find the TAS profile scanner under the services tab. Sign up today. Are you in the market for buying or selling real estate in the Bay Area, including the surrounding St. Petersburg, Tampa and Clearwater markets? Tiger Real Estate LLC is a firm that has extensive experience in the Tampa Bay Area. Whether you're looking to sell your current property for maximum value or you're in the market for a second home or investment property, Tiger Realty has the experience across all areas of real estate in the Tampa Bay area to help buyers and sellers make the most informed decisions across all price levels. From the price you should be paying per square foot in certain up and coming areas to the type of cash flow investment properties are capable of creating, Tiger Real Estate can help you make the best decision when it comes to all areas of the market. Before you make one of the biggest decisions of your financial future, call Tiger Real Estate LLC today at 727-329-8322 or email us at tiger at TFNN.com at 727-329-8322. Call us today. Many of our new listeners have heard about the Tiger's Den. The Tiger's Den is a lively community where professional traders and investors can meet, exchange ideas and information in a comfortable moderated atmosphere. Hear all of the TFNN shows plus see all of the charts as they happen live and have access to archives of all of those charts. You can test drive the Tiger's 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 Tiger's Den are on the front page of TFNN.com. 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 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. So one of the tools that Brent was referring to see if you can this is the only way for me to pull it up right now which is to go back to the newsletter that was sent out. So one of the things that you and I do here each day is we take a look at different instruments for example Ruby wants to go take a look at cattle and hogs and so we're going to do that in a moment or we just take a look at the markets. We take a look at for example we were looking at the intraday charts for the ESMini and what we were looking for are there any topping or bottoming signals that are present out there and so we took a look at the roads momentum indicator pattern. It helped us to identify what appears to be a short term top and where price where sellers should be able to price push price down to. We also take a look at those TD set up nine count patterns out here and so I've been redeveloping all of my tools to work on a different version or newer version of the white background and charts those are the Ninja Trader charts out there. Unfortunately all the tools that I had developed in their older platform that don't pour it over to the newer platform and I finally have decided to bite the bullet spend the money time energy there's there's also some other benefits and we'll see if I can maximize those benefits out here but one of them is simply to be able to scan how many ever charts instruments really not charts but instruments to pick up on those topping or bottoming signals or I can just simply take a list of instruments for example here is a majority not each of the components inside the GDX right now and so this way in one swoop I can take a look at each of those instruments understand what their daily TD set up count is their daily their weekly their monthly as well as where support and resistance are. I'm not going to take every single trade out there but many of you are looking for additional trades out there and when you like to buy something that has a bottoming pattern and this is one of those bottoming patterns the Rosamund indicator tools are already present in the daily and the evening edition of the newsletter so that subscribers can track their own investments make their own new investments based upon those topping and bottoming signals out there and and then I've also so that would be taking a look at as an example for the my market analyzer for the TD setup pattern out here and this is just taking a look at the GDX here's another example of and this is really where maybe the the rubber meets the road and looking for those new trades here is a scan of the Dow 30 stocks in the NDX 100 stocks just to begin with and here what I'm looking for just the daily counts at this day just the daily counts that are showing either a topping or a bottoming signal that would be counts eight or nine remember we always look for bars eight or nine inside that pattern or the bar following nine to assist us with whether or not it's based upon the pattern rules whether it's a valid top or it's a valid bottom out there and this way here I've scanned 130 stocks it took me literally seconds once I had everything built to then be able to sift out only look at those that have our in bar eight or nine out here making it a whole lot easier then also I've got the weekly or the monthly counts out here so we can understand where they are at as well as where the support and resistances and you can see where the last price was at when this was was put forth and so what's nice about this is here you've got four different stocks we have four different stocks to go take a look at so as an example here is the here is oh that's interesting to tell here here's here's the one it's FOX A Fox I believe so that showed up and here you can see a nice valid count a nice valid TD setup count bar number eight made the low and I realized that the print is a little bit small on this and eventually I have I've got a new computer a supercomputer for the most part that is being built and on its way that should allow me to run everything as you know sometimes we've my system has gotten clogged up so to speak even though I keep it nice and fresh and clean but it's gotten clogged up but I won't be gotten some kind of tweet that just simply sends the markets into generation or some type of report that takes place out there it doesn't have to be a tweet necessarily and and so if I'm running all this stuff on on my computer system I just need something of more power to be able to do all those scans as well as pick up what's going on here but here we know for ticker symbol FOX A if you were going to ask me about this we'd say a valid bottom and price going to move up to 3245 and that makes it very easy for you to consider taking a trade on this I'm not telling you to take a trade I'm just saying if you're a person that wants to be able to buy tops or sell tops and buy bottoms well this is one of those tools and then the newsletter is one of those places where you can get that information here if we take a look at this symbol this is monster energy MNST it's got what looks like it may be a valid TD set up nine count but we wouldn't take that trade not based upon that pattern because it doesn't follow our criteria out there and this is an additional thing that I'm going to enhance that scan with so that I don't even have to take a look at this MNST just simply because it doesn't meet my criteria here is a Starbucks so if you're this is a really a great setup with regard to Starbucks out here because this has got the TD set up nine count the nine count occurs before support that'd be that red horizontal line of 8332 if you're if you're an individual who's been trying to add Starbucks to your portfolio well then what I can tell you is now's the time you've got a valid count you know use proper position sizing your target is going to be resistance which is 91 77 I've just made this clean out here we also use you and I use our TAS market profiles for support and resistance and I can add that but this is this is just simply with regard to this pattern where price should be able to push itself having a valid count and this is really nice looking in trade there on Starbucks the fourth one that showed up there you've got CVX and the case of CVX it definitely made a TD set up nine count bottom does it on bar number eight what I don't know now is old support which was 114.55 never held the support because the only time it tested price cut right through that but still is an old support lover what should have been a support levels at now resistance that's 114.55 I don't know the answer to that no more than anybody else does but a close above 114.55 we'd say not it doesn't matter valid count out here price should target it's breakdown level and that'd be up at the 12472 so this actually looks like also another nice setup to the long side lastly it's not the last tool but I'm also automated we also look for wave number G the market sings in the key of G when those patterns are present we pay attention to we go look for it but how are you going to be able to scan all Dow 30 all NDX 100 all S and P 500 all of the Russell 2000 if you'd like as well as all the miscellaneous other stocks let alone the futures contracts which we take a look at 30 60 120 300 minute charts out there and be able to do all that stuff just to narrow it down to which ones are in a proper TD setup accounts to look at roads women to indicator tops or wave number seven so I've been automating that tool this is just an example of that process and so in any event that is what Brent was referring to always looking to be able to enhance the level of experience if you are a subscriber to mastering probability now let's go get back to the show out here not that that wasn't a part of it but let's go take a look at live hogs for Ruby so Ruby I've got is the November contract is that it for for lean hogs out here I think that it is but if it isn't let me know we can change that but here if we take a look at the November contract for the only reason why I say maybe it's not as I don't see much in the way of volume down there but if we do take a look at the November contracts December okay thank you so let's go change that here real quickly let's do this that way we give Ruby the the information she's looking for and the first thing we're going to take a look at is where is price trading in relationship to its TAS market profiles and right now if you're long hogs what you don't like seeing is today's action because a key level of support has been broken through in that 6631 we'll be right back we'll finish up lean hogs go take a look at the cattle and anything else that you'd like Steve Rhodes at tfnn. Steve at tfnn.com I'm certain you are or strive to be one of the best at everything you do in life it's the most common trait 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 seat 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 and p 500 for the last 12 6 and 3 months timer digest also ranks me as the number one market timer for bold 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 tfnn.com and get immediate access to workshops where I take you step by step how 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least resistance under trading newsletters for all the details and to start your 30 day free trial today log on to tfnn.com now tfnn is excited about our new software charting program the art of timing the trade charts in collaboration with Tom O'Brien and using his bestselling book the art of timing the trade your ultimate trading mastery system David White has programmed an outstanding piece of software that will complement any trader's methodology using this first of its kind program the art of timing the trade charts allows you to scan thousands of stocks for Fibonacci formation setups including Gartley's 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 seventy nine dollars a month we are so confident that you're going to love this new charting software that will even give you a 30 day unconditional money back guarantee don't miss out on this incredible new piece of software get your copy of the art of timing the trade charts today by visiting tfnn.com this segment is brought to you by think or swim for more information just click the think or swim banner on the front page of tfnn.com folks so we were taking a look at lean hogs the December contract for lean hogs and we had initially just focused on the daily time frame that's the right hand panel chart out here and so we said to Ruby was hey not a good thing for support to be broken i don't have the December contract and my other tools out here to pull it up to see if there's anything else of significance ruby that we should look at but as we look at multiple time frames a 30 minute which is the left hand panel than the two hour uh 120 minute than the five hour time frame we see that all of the bars are currently read such as the daily telling us the price is below all levels of profiles out there that we're looking at the four levels right now and so therefore this is uh not suggestive of any kind of a bottom but instead the price wants to continue to move lower so that's what I see when I take a look at the December lean hog futures contract as far as live cattle it looks to me like this is also December maybe confirm that for me out here and as we take a look at live cattle this is a much more bullish looking chart much more bullish because well price is up at the top of its daily profile and that top is one 1075 now price is sitting just slightly above it and I do mean just slightly above it but nonetheless above is above and if price can close above the top of that profile says it should move to higher ground now higher ground to wear at this stage the only tool that I would have to give you a price projection would be an A to B equal CD pattern and it would look something like this it's a it's not a very large retracement I like to typically see around a point three eight to a retracement this is 23.6 which actually is a Fibonacci number but but in any event out here this looks like you've got an A to B equal CD that is going on out here and that price wants to move to higher ground no bearish reversal candles or anything like that so that's what I see when I take a look at the December live cattle futures contract so I hope that that helps you out there we take a look at let's see let me just see if there's any other request any other questions out here and so just some more comments from some subscribers about the new tools out there so and I appreciate all the comments that's why I sent that list out to subscribers I'd really like to get their their feedback their comments because I don't want to include stuff in a newsletter that's not going to assist anybody that doesn't make any sense out there in any event so let's go take a look at Tucker wants to take a look at an update on natural gas if we have the time of course we have the time if you ask we've got the time then this show is yours and just so you know this hour I mean unless there's something just crazy going on inside the marketplace that we have to go spend time on it you know this this is your show this is this is this is all for you so you know the way you benefit me is by giving me all these different instruments to go take a look at simply because that's how that's how we we we you and I the team this is how we see these patterns work and be able to generate some confidence in them so let's see we're going from what was there what was your guess oh natural gas I'll eventually get there so let's go take a look at the natural gas contract out here and as we take a look at the November natural gas contract let's begin by taking a look at the daily chart as soon as a populate so here's what we know we know that a couple of days ago specifically on October 3rd there was a brand new bullish structured profile that formed out here and so support is at $2.24 and resistance at $2.57 now price is sitting right at the center of its box that's the price that's a price point where both buyers and sellers believe there's fair value now it's bullish in structure so what that means is that if buyers can overcome sellers and right now we don't have that Tucker as a it was a Tucker yeah that asked about it because price is sitting right there but if it looked like on Friday's close based upon Friday's close which was slightly above that center line that that was signaling to you and I that price should still be able to push buyers should be able to push price up to the top of the profile $2.57 price sitting right at it right now so we don't really change that view but it's been more neutralized so to speak so that's really my my update is you know price is sitting right there with buyers and sellers believe there's fair fair fair value if you're long you know you've got $2.24 as your level of support you need to see a close below that to change that view point out here and other than that I really don't have a lot Tuck if we take a look at the 30-minute timeframe out here you're just going to see a consolidation a consolidation between support and resistance the resistance has held really well that's a two dollars and thirty three cents out here or two thirty five either one and support is two dollars and thirty one cents which was breached but we never saw a second closing below that area not until a couple of hours ago the exact time we saw a closing below that was at eleven but then price failed when I say failed failed to push lower and so we're just inside this little range out here Tuck so I don't know which way this is going to go do you or anybody um at this stage here it's sitting on fair value and I don't have any more in any more information that sounds like really horrible grammar out there I'll just have to apologize for it but it is what it is so so anyway so there we go for natural gas hope that helps you out um what do we got here somebody I don't know I'm sure what's the what's the the discussion the tiger's in about the news okay the market may be moving higher okay so let's go back to the market and so okay in the market moving higher we took a look at a 30 minute chart 30 minute chart said okay we've got a valid topping signal now we're pushing higher again as we push higher again we're still doing it with less relative energy out here so it's just a word of caution at this stage and so that had that viewpoint hasn't changed now if we see a close above a close above in this 30 minutes so that's 2 p.m. I'll be off the air by then but a close above 2955 we're 2956 right now a close above 2955 would say okay the first level of resistance has failed that was that bearish engulfing candle but it doesn't mean that another short-term top can't form because because price is still moving higher with less relative energy out there so I'm not going to get too caught up into whatever the reaction in the market was I'm not saying that the market is bearish so I just want to make but we were looking the short-term time frame charts to say okay caution because when I say if I look at a longer term time frame now longer I mean I'm going to go from I'm going to multiply times 10 I'm going to go from 30 to 300 and so if we take a look at the five hour time frame chart out here this did have a TD set up nine count pattern that was at Friday's close out here and but what now what we can see is price has taken out that high so the bigger picture right you've got hey what's going on the short term kind of a lot of noise on a short-term chart now we we spread it out a bit to a larger term time frame and what this is communicating to you and I is that the ES mini wants to travel up to 2994 that is its resistance level because we've got a topping pattern here in the larger scale that has failed to generate any significant selling to the downside price is now taking out that pattern high and so price should move up to the next resistance area it's above the profile for the five hour time frame now this bar here that we're in doesn't close till 2pm and so it's important to see what the close on this bar is in 22 minutes 21 and a half minutes out there but at this stage it looks like 2994 on the larger picture for the ES mini and folks inside the NQ she appears or he appears to be headed for 7841 here at 7791 right now that's the five hour message we'll be right back 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 bank rate dot 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 a 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relationship to support and resistance for support and resistance you and i we primarily during this hour we primarily use our taz market profile so that's one area to identify support and resistance and the other would be the td setup a breakdown and break out levels out there and the numbers are going to be different but we want to understand where support is we want to understand the range of support or the range of resistance so we take a look at this chart here we know prices trading at the point of control on the daily time frame it's a very structured box out there so if price can close above 30 oh nine not 30 10 you know i don't know 31 or not 31 i don't know 30 and 20 cents then price ought to be able to make its way up to 30 93 a brand weekly profile has formed out here jim price is trading right now into the top of that profile so 30 10 is the number so on a weekly close above 30 10 that would be bullish and prices trading in between the monthly profile now jim mentioned that he's not a short-term trader and so it's really noise for you and i to take a look at the daily time frame we will but i would prefer to start at the longer term time frame so we know what as we take a look at this chart we take a look at profile levels out here we know prices trading in between them we can see in the case of sun core we can we can see both higher higher lows recently when i say recently well really higher lows coming back to November of 2008 but we can also see lower highs coming back into March of 2011 so we got the cone of silence that is in play here if we take a look at the monthly time frame chart this is Stevie's other tools out here the oscillator and change line that red green line by now if you're a long-term listener you know when that line changes colors on the monthly basis it did this back in July August of this year you know that we should eventually see a test of that line and price and it's the test that test that tells us what the intent of the market is that's really what we want to understand what is the market's intent what is the message of the markets and what we saw take place in the month of September was a test and rejection of that level so on a longer term basis Jim there's no other bottoming pattern or signals that I have out here the message here from a longer term standpoint is still bearish that was the test that took place in the month of September now maybe that's too long-term for you I don't know if that's the case or not if I look at the weekly timeframe chart I don't really have a great signal out here one way or the other so there's nothing here to provide you and I with more information other than we know where price is traveling with regard to it's a weekly box which is a brand new box that just formed the daily timeframe which may be noise to Jim may not be noise to you what this did was this generated a TD set up nine count bottom it did this on October 4th the low was the bar following bar nine that qualifies for what I like to say is a valid bottoming signal out here it did it with a hammer candle it is nice to form a top or bottom with a bullish or bearish reversal candle for the TD nine count it's not a requirement it's not a requirement period end of story but when it does happen it at least communicates to you that not only was or is this symbol SU forming a a valid bottoming pattern it did it with a bullish hammer candle out there and so the nice thing about this is you know if you were in a trade took a trade on this that your stop would be a close below the bottom of that hammer candle which is the price point of 2954 now when I say your stop would be below that you would you because the close below the low of a hammer candle says if you're long you're wrong just our funds little expression out there in this case here this would tell us that price would likely pull back to its breakout area of 2814 now the bullish side of this Jim is that you have a valid TD set up nine count that occurred well above support support here being that breakout support level so you should see this instrument make its way up to Stevie's Green Line which is 3093 right now into that range and at 3093 just so happens to be the top of the daily profile out there so there should at least be a countertrend rally up to that area what it does to that area I don't know but that's what I would be looking for in the case of Suncore you say you're a longer term trader I think you've just got to be patient based upon what we looked at for the monthly timeframe hope that that helps you out with your decision making okay no other requests in just yet other than inside the Tiger's Den which is just a as valid a request and that was from who was it Peter somebody wanted to take a look at just trying to find out where what's the request for was it for gold well do do do do do do do do do do do do do do do do boy oh boy oh boy okay well yeah the gold contract okay thanks thanks for helping me out I guess I could have just figured it out on my own if we take a look at the gold contract one of the things Peter likes to look at smart guy for wanting to look at it is you know what's what's gold doing in all the major currencies out there so if we take a look at that we're going to see gold priced in dollars gold priced in euros gold priced in yen and gold priced in pounds each moving lower on the day so what this tells us that we've got some sellers out here gold by the way has support at the bottom of its profile that's 1472 now that's using my synthetic version of the contract I'd have to look at December see if that's also got 1472 but right now Peter that's what you and I are going to go without here so it's moving lower in all currencies which suggests that it's going to continue moving lower to support support 1472 if we go take a look at Stevie's other chart white background chart out here this tells us that yet get 1472 of support we see that Stevie's oscillator and change line Stevie's green line has held as resistance been tested three days in a row out here so this too says to anticipate lower price so I'd be moving down to that 1472 now one of my other tools that you occasionally see subscribers see it because each morning we try to understand what's the message of the markets what just happened overnight are there bottoming signals topping signals what's going on for various instruments we take a look at that for example let's say this 30 minute timeframe now here are the roads momentum indicators signals different than the TD setup nine counts or the wave counts out here but here if we take a look at gold what I'd be looking for in the case of gold is is there any kind of bottoming signal well lo and behold on a 30 minute timeframe just so we can understand the noise it says bottom signal and what I know because it's green it says that this should have occurred here during the last last hour last half hour or so so let's go see if we can let's pull up the 30 minute chart for goldilocks let's go see what it says where do we have that well here's a eh let's do it here let's come over here let's just change this to the gold contract for its 30 minute timeframe and while a lot what we can see is price is pushing lower doing less relative energy and it's doing it on that bar and that's a beautiful thing that does not mean buy when I restate that again that does not mean buy okay I've said that price is just pushing lower doing less relative energy not until the cavalry arrives with this pattern here would you consider taking the trade unless you've got some advanced information are you really at a level of support which we just took a look at in the daily timeframe we didn't see a level of support there nor do I see any kind of TD setup support well 1490 would be a level out here but at this stage you'd be observing the way that gold trades for the next many hours out here to look for some type of bullish reversal signal for a counter trend Steve Rhodes with TFNN be right back since 1984 Basel 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 Basel noticed that prices under most circumstances virtually always had a certain number of legs to the upside before declining sharply later Basel 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 Basel 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 Basel'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 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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 good back folks so we've got the dial up 70s and peas up six all the indices in the green so what are we going to be watching today to give you an indication as we come into the close what the markets are communicating to you if we go back to those roads momentum indicator signals out here one of the key target areas that the equity futures contracts are shooting for are it's steve's green line level out here that's that daily OUL oscillator and change line so what we can see here because there's a number present on the NQ in the support column 77 57 tells us that prices above support now you can just take a look at the last price to see that but so the NQ has already gotten above a level of resistance the ES the Dow and the have not let me just see here I think things are out of whack let me try to I don't know how they got out of whack they did get out of whack see if I can put them back into whack out here and where is the Russell 2000 there we go so just take a look at the top four so here what we can see the resistance level so where the ES mini is gunning for is 29 60 the Dow 26 679 the Russell 2015 18 and he closes above those levels will tell you that the odds of this only being a counter trend move just got diminished just got diminished that's if that occurs out there so what we have is right now we've got one of the equity futures contracts that gave us that signal on Friday here if we take a look at it because it was just a slight close above that level we can see that price is still above that area right now counter trend rallies would stop at resistance hasn't done that now remember we also use those TAS market profiles as resistance right so if we take a look at where's the TAS market profile for resistance for the NQ it's 78 44 so if you're asking me if prices move higher where's the NQ gunning for it's 78 44 now that spot VIX index right now still trading above its 50 day exponential moving average it's currently priced at 1660 that's the 50 day the spot is trading at 1686 if you see a close below 1660 folks it's really suggesting you don't be short or certainly tighten your stops hey thanks so much for being here stay tuned another great hour two hours coming up next David White and Tom O'Brien and I look forward oh I won't be here tomorrow my apology but I will not be here tomorrow hey have a great Monday folks