 The following is a presentation of TFNN The Trader's Edge with Steve Rhodes. Call now toll free at 1-877-927-6648 or internationally at 727-873-7618. The Trader's Edge now Steve Rhodes. Good afternoon folks welcome to the February 10th the terrific Thursday edition of today's Trader's Edge show. I'm your host T.B. 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. Hey let's make sure we have an extraordinary one of the easiest way to do that. Well it's to always remember that life is happening for us not to us. That's right when you and I make that one little two-by-four shift means we can find the gift in every set of circumstance that life is going to toss at us. Now today you and I we're going to go check on the circumstance of these markets. We'll go figure out what those bulls and bears what those buyers and sellers are communicating to you and I at just past one o'clock in the afternoon. I do want you know I'm absolutely grateful for your presence here. But more important than that that's this during this next 60 minutes I'm here to serve you. So feel free to pick up that phone you can dial on in 877-927-6648 if you can't dial in hey we've got you covered there too. You can always send me an email send it to Steve at TFNN.com but inside that subject headed if you would be kind enough to put radio show question makes it much easier for me to find your emails from somebody else's that would be greatly appreciated. Of course if you're the Tigers then well any and every ping will do. So let's go ahead and get this show started on terrific Thursday. Of course this is Tiger Financial News Network I'm Steve Rhodes welcome to let's show a bit of a mixed bag out here the only U.S. industry trading the upside of the spot Vix is the Russell 2000 she's up 10 points trade out of 2093. The Dow's off 238 the S&P's off 37 Nasdaq one hundred one sixty seven semis are up 24 trainees down 59. You've got the XAU off 30 cents gold is off a buck silver's up 19 pennies lights we grew it up 81 cents natural gas is off 3 cents in the 30-year Treasury printing out at 151 15 that's back with nearly two full points one in 26 30 seconds leading the charge oh you got the wrong screen sorry about that or I've got the wrong screen a where's that 2x4 Mr. Bill no isn't it's Dan and Boston he's got the he's got the real icon of the 2x4 sorry about that folks we get to the proper screen out here makes a little bit easier I'll leave the charge dollar wise to the upside you've got data dog 24 points arrive the automotive 22 can't pronounce that next one mdb up 17 SBB financial 15 Mercado Libre up 11 to the downside auto zone that's a stinger nearly percent or 72 bucks 45 bucks for Google Amazon's 38 zebra technology 34 which is nearly 7% and a CGN is off 21 bucks or 15% so we've got plenty of things to look at of course I want to look at what you want to look at and what a what we're gonna look at first it's really what are these markets doing what you know where support and resistance where's the flow of the market what time frame is it that's generating the best flow of signals for you and I well that was a mouthful out there well I'm gonna show that to you so we're gonna get right to the point the only time frame the only charts that you really need to focus on understand what the market is doing that happens to be the 60-minute chart so as you know I pay attention to several intraday time frames out there and when we get markets like these but I'm also always trying to determine is what time frame is it that's controlling the market moving which one has the best topping signals if there are any which one has the best bottoming signals well it turns out if we take a look at not just looking at the top row here so I'm looking at just the equity markets not down below with gold silver US dollar might be cruel we can take a look at those but really I focused on the equity markets out here in each of them found support this morning at their TD 9 count breakout levels that's a 45 22 area in the ES mini that's 14 770 in the end queue that's 35 406 for the Dow and it's 20 5590 for the Russell 2000 yes the Russell 2000 close below that level 20 5590 for a short period of time but it did not get that second consecutive close these are the key support levels if you are short or you're thinking about short then you want to be paying attention to these if they hold then you know guess what this is a form of a consolidation so to the downside the ESNQ the Dow it's very clear where support is that it's also clear where resistance is the top of those profiles so it's 45 82 in the ES mini it's 15 036 in the end queue and it's 35 710 inside the YM so now we have this whole thing wedged in here we know our support and resistance we know our key levels of support and resistance are for the day how much is that worth not much probably they think a ton now we know what's going on inside these markets so in the Russell 2000 with regard to upside activity I'm really not sure why it found resistance there I'm gonna go with the fact that found resistance there where it did let me see here I that was that so really a top came in at about 11 o'clock where was that top here was that also 11 o'clock now it wasn't so I the Russell's got a mind of its own right now the support areas real key 20 5590 so those are levels to be watching to the downside out there is there anything interesting as we take a look at 60 minute charts for gold and silver we can see that the spikes lower held support being their profile levels out there US dollar index is now trading below a profile area we can take look at the larger term time frame but with regard it's it's really been simplified or at least I've tried to simplify things it's a 60 minute time frame maybe you don't have the 60 minutes take a picture of this if you're on Tiger TV take a picture of this inside the Tigers stand and these would be the areas we want you know if price if you good question I know somebody was saying hey Steve oh if the Dow equity future contract for two consecutive bars close me though close below 35406 where's price going to run to excellent question you break through one breakout level you would go to the next early SAP becomes a target 34965 to really answer that question we need to understand are there any other support areas that could come into play first well those support areas let's see if I can do this your presto change oh this is a little Stevie magic out here without even having to screw anything up we go to the daily time frame charts and here on the daily time frame charts it really becomes those red oscillator and change lines so I don't remember what the level was that we're talking about the Dow but my answer would be also 35 about 35040 which is the top of a profile which is also its oscillator change line so now that we're on the daily time frame charts any breaks of those TD9 account breakout levels for the 60 minute time frames would then suggest targeting or price targeting their respective daily oscillator and change lines 4488 in the yes 14601 in the NQ 35040 or so in the Dow and the Russell 2000 you know it'd be as the 2002 level but the Russell is a pretty bearish a brush the Russell but pretty bearish I say bearish what the Sam heck was I saying it's pretty bullish why is it pretty bullish folks the Russell 2000 is trading above yesterday's high now it did test yesterday's low as well we're at this stage here we're going to call that a rejection none of the other three are trading above yesterday's high so the Russell 2000 which has a A to B equal city to the upside not really a confirmed one when I say confirmed didn't take out the B point with volume doesn't really matter that doesn't mean that a to B equal city pattern cannot or will not form so in this case you've got an A to B equal city at the upside you've got a TD9 account breakdown level of 2209 the Russell 2000 is very likely headed to 2209 30 that's its TD9 account breakdown area the only thing that would get in the way of that would be the other three trading below their red oscillator and change line if you trade below red oscillator change line that's a signal that sellers are certainly in control and then you look to other support levels so that's what's going on the equity futures market just pay attention those 60 minute time frame charts and you'll do just fine great Steve Rhodes started his trading career as a student almost 20 years ago and the student has now become the master Steve won the prestigious timer of the year award in 2018 and barely missed that mark again in 2019 finishing at number two for the year an amazing accomplishment Steve Rhodes is committed to sharing his techniques and knowledge with anyone who wants to learn and he shares his vast amount of trading knowledge every day in his mastering probability newsletter Steve's award-winning newsletter mastering probability is delivered every trading day with updates throughout the afternoon sign up for Steve's market newsletter mastering probability and you'll receive access to seven of Steve's educational webinars absolutely free at TFNN all our newsletters come with a 30-day money-back guarantee so you have absolutely nothing to worry about visit TFNN.com and try mastering probability 30 days risk-free today TFNN educating investors what's separating you from the most successful men and women on Wall Street that's right information having all the information gives us the perspective we need to place the right trades at the right time the task profile scanner is the premier market profile based scanner powered by its acclaimed task proprietary algorithms this feature rich scanner instantly filters over 2500 plus global financial markets such as stocks ETFs commodities futures and forex this powerful suite of tools leverages instant trade 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until the closing bell sounds Tiger TV has eight different shows with expert hosts to help you make the right moves with your money watch online at TFNN.com or on TFNN's YouTube channel and become the investor you were born to be TFNN educating investors call now toll free at 1-877-927-6648 internationally at 727-873-7618 folks we've got a request inside the Tiger's Den from Jimmy wants to take a look at the technology sector for the S&P 500 the XLK out here that's what we've got up on our screens let me clean this up just a tad out here so here's what we know longer term well first I say that's what let's let's take a look at the white background charts we'll come to these black background lens in a few moments if we need to so on a monthly time frame as we take a look at this this has a confirmed TD 9 count top in prices below the oscillator and change line but what price also did last month Jimmy was a came back in a tested support and support in this case here was the top of its daily profile when you close above the top of a daily profile old resistance can become new support when this monthly profile form price was already above it which was a bullish signal but what price remains below an oscillator and change line green just says further retracement red says hey I'm gonna go back and test support again so since support is held here so far it doesn't really need to get back down there not that it can't and because price below that green oscillator and change line longer term says more retracement may still be in order if we take a look at the weekly time frame rosement to indicator top price gets down below its weekly profile gets right back above at the next week and now we have a new profile can you see this profile out here it's a that is actually formed last week get Jimmy can you see this can everybody in the side Tigers densities in fact let me do this here maybe it's easier to see that one on the black background charts I think that it is so let's just do this because this is really important here because so look our role as technicians is to not get married to an idea we get married to an idea for as long as that idea lasts meaning if there's new information out there what am I trying to do here I need to get to a different part on the screen if a if new information presents itself than that old idea that we're married to you got to divorce yourself from it you've got to use the new information well that's really what we have here inside the XL key so Jimmy thanks for even asking about this because we get to a chat about that so I'm just gonna turn off price and now you can clearly see the new profile now in this case here we'll just look as profiles form down below and I'm just coming back here to the 2020 time frame here's a bullish structure profile where's the next profile form the bottom is above the prior bottom atop is above the prior top same thing for the next one same thing for the next one after that then we get into a consolidation right with the profiles being with inside themselves then back to the bullish move out here where the new profiles above the prior one okay the bottom and the top then we have that same thing taking place here in October the same thing taking place here in January and now we get a new profile that forms basically this week with the bottom being 152 below the old bottom hmm and the top being 177 above the top of the old one so this is a scientific consolidation or the intent here simply from a profile standpoint from a weekly standpoint is that what the XL K is doing is just really consolidating so that consolidation pattern here not the typical type of concern and actually we could draw in a consolidation there's enough data here to show a not the profile consolidation but the one that you're more familiar with and that's using now just draw it in here real quickly and so that would look for for me would probably look something more like this would be the the consolidation area and so odds favor at this stage here Jimmy that on a weekly basis not you know the play-by-play what's going on today and tomorrow but right now and price right in the center of this consolidation so it could go neither direction to the upside or to the downside but this stage here since the downside of the consolidation is held this is signaling to and I the XL K wants to make a run for the top and maybe even the 177 oh four level okay so we got that piece out of the way out here and on the daily chart out here in essence yesterday you had a signal of an A to B equal CD because price closed above the B point 16398 now that B point out there had volume of 12.7 million shares yesterday was up with only 8.8 million shares so not much of a surprise to see that it has failed at least at this stage now some smart cookie out there and there could be a bunch of them as is saying hey now wait a minute here Steve oh I know about swing points and I know that that swing point on February 2nd has volume of 12.7 million shares now so no that today it's 8.3 million shares it's not likely to get to 12 million shares and the price closed below 16164 and you're trading 16194 that's a test rejection of a swing point and time to head lower now that was an excellent dissertation by whomever was thinking that out there and that would be true however price is still above the top of its daily profile so I would say hold your horses here because prices above a clear level of resistance and in essence I would take that signal information apply the daily profile information and say in essence we really have a neutral signal out here with regard to the daily time frame for the XLK does that make sense to Jimmy and taking a look at the XLK from its daily perspective its weekly perspective and its monthly perspective back to the daily time frame out here short of closing below its red oscillator and change out of 159.04 odds favor that price wants to go target the 17010 level so number one sector inside the S&P 500 on a weekly basis and intermediate time frame has generated a consolidation signal because that profile current profile exceeds the low of the prior one and exceeds the high of the prior one as well so hope that that helps you out next question inside the Tigers then coming from John ESH to to weekly chart with Taz please bull market now done well okay so John is kind of referring I believe to this panel here and so again John new information is really helpful if we take a look at so the answer was on the week of January 17 price closed below the bottom of its weekly profile very much like it did back here in February 2020 that was a signal of a change in trend that signal lasted up until this week now potentially this week why do I say potentially John I'm using my synthetic symbol he says the ES and one and an exclamation point up there and I'm doing that in order to be able to get the new profiles that are attempting to form this profile will not be confirmed until Sunday but price is now above the bottom of that profile 4331 it really goes along well let me do this here let's go to the ES mini we do this so now here's the ES mini and if we take a look at it's a let me just expand out the weekly chart you know to see if it's kind of tying out it's closed but no cigar and what I mean by that is the bottom of profile exceeds the prior bottom I just want to go ahead and turn off price makes a little bit easier for everybody that's watching on the Tiger TV or inside the Tigers den to take a look at so this is a barestructured profile but you know price gonna have to close below 4331 John in order to get back to that mode of the bull market is is over that actually would tie into a little rising trend line all the way down at the bottom here so this profile we have to say the lowest below the prior low the highs below the prior high and it's suggesting a downward trend out there yes so I think that that I hope that answers your question with regard to that with regard to anything else that might show up inside the ES you had mentioned just the weekly so give me a moment here yes 322 and let me get this screen to populate now I just put in the current contract I might have to put in John the continuous contract in order to get the date out here when I get to the weekly let's just take a quick peek before we get to that break maybe we got lucky out yeah so here's what the ES didn't do yes it broke through John the bottom of that weekly profile but it didn't break through breakout support and inside the yes mini that number to be watched me 41 20 and that would then give us the change in trend signal Steve Rhodes with TFN and the great having fun trading the markets but having trouble finding like-minded individuals to discuss your trading and investment ideas with become an apex creditor in the trading market and joined the Tigers then trading room only at TFN and calm the Tigers then is an exclusive 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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 $79 a month we are so confident that you're gonna 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 TFN and dot com this segment is brought to you by think or swim more information just click the think or swim banner on the front page of tfnn.com folks let's set out to do Buffalo Michigan with Gary Gary thanks for calling thanks for holding how are you doing today hey great and then how are you my friend I am doing well so I know you called to talk about I gotta tell you I am so pumped about this call because the two I'm calling about are going out to at least 100 people as part of an email this recording of the show and you just rock as always what your work is so amazing and this call has been up to it everything all the questions so I hope I don't step on anybody you know coming in with some other questions but these two are huge for me because they're my number two and number three biggest holdings and they're getting bigger so okay so Palantir is one of them right PL PLTR is number three that number two yeah yeah okay and Palantir what it's dealing with it's dealing with the sellers and those sellers reside at 14 bucks so it's a bare structured profile so sellers really reside between 1355 and 14 price did close above the top of that profile on February the first but they gave it right back up the next day when price was trading above that profile Dan I'm sorry you're yeah I'm very sorry about it don't worry about it had volume of 69 million shares and today you're only a 28th so it's pushing up into an area that it struggled with 69 million it doesn't look like to me that it's ready to break out and give you the so-called buy signal or maybe a change in trend signal but $14 now it can close above I can't control what it's going to do but if it did close it doesn't have the volume to suggest that that's what's going to do but it still could do it and that's what you really looking for two consecutive closes above $14 and that's what the daily time frame chart shows us I'm going to pull over the other charts white background charts and here you know in looking for some kind of a bottom the only thing that would have would be an A to B equal CD to the downside so that would be the pattern this out here I do actually see wave number G that took place so that's a bottoming signal on January 24th out there so now if you get to a consecutive close above 14 and you get the move to 1857 the weekly time frame here for Palantir see if there's any kind of signals here bottoming signal I don't have anything here so it's really the daily time frame that will be controlling things and right now it's just a consolidation with inside that that daily profile so anything else that I can provide to on Palantir I think you did it see I'm loaded up on the year out and two year out options at 30 and 40 so I'm a big long-term player in that I've got a lot of stuff underneath even 30 but the point is is that those are my two biggest positions and I am looking for a short-term play because they announce earnings next week and everything I've got going so short term unless price goes to get to consecutive close about 14 bucks you know then price might explore the bottom of that profile or the you know in the 1265 level out there so what are earnings which date you know Thursday Thursday so call back on Wednesday if you would if you can and we'll take a look at it and see how it's doing the first instrument that you're looking for is what was the ticker symbol on that PLTR no no the so we got we've done PLTR what is that is my baby new skin any any and yeah and you and you and you and you okay so now we take a look at that new skin out here new skin is dealing with the top of its daily profile as well that's at 50 42 it's been trading above that for the last four trading sessions out here so what it's telling me is that price wants to go tag 80 sending trend line that is formed on the weekly timeframe this week that price would be at about the 53 20 ish type area next week going to be slightly lower than that if it can break through that or maybe it does that interest session into a week the top of its weekly profile be 54 67 as I take a look at just the daily timeframe here for new skin as price was pulling back I don't have a bottoming signal but and I don't have a lot of signal and what would this also the daily timeframe chart shows us is where the real fly in the financial ointment is and it turns out it's the oscillator and change line now it's green and that's beneficial if you get a close above that and so what you're pulling for is a close above 51 15 and really to close above that if you get that gear the new skin should make its way to $54 not saying that it won't now but we can see how that green oscillator and change line has really acted as resistance I'm not sure if you can see Tiger TV just yet but but you will be able to see it when you do take a look at the show if it gets reposted so that's the real battle ground for a new skin for its daily timeframe any questions there Gary if it's not reposted I'll be emailing you okay I want it the big thing is that they report earnings next Wednesday so that's what I'm kind of telling me they don't their options are a lot more difficult because they're so wide they're just not that close to the reality so to speak it there's not well well do me a favor then I mean if it to the extent that you can just give me a call on Tuesday you know we'll we'll we'll take a look at it see what the signals are at this stage here but it does look like what this does want to try to do is get up into that descending trend line for the weekly timeframe and perhaps even 54 67 if it breaks that a lot of people are gonna be listening to this where would it go after that because we're expecting the people that are in the company a lot of us are expecting some really stellar work especially with this new college and that we think it's gonna be formula well here's what you know here's what you know now you can't here's what we know the high that took place on January 7th that was a bar following bar number 9 of a TD 9 count so that's gonna be your real resistance level that's assuming price can get above the net level out there is 54 67 so 54 67 is the top of the weekly profile 54 67 happens to be the TD 9 count threshold level and that's the price that would that that's the price you need to see price close above then there would be another battle for you to be at 56 dollars even Steven which is the top of the weekly profile if you clear that you know then you're back off to the races to the upside so you've got a couple of battles 54 60s you got one before 54 67 that's what you're dealing with right now at 51 15 then you've got 54 67 and if you can clear that then you're off to the races and it also races still in that range where there's not a lot of there's pretty much blue sky up until you get up into the out with the well right now the answer would be yes but there could be new profile information or something you know that that takes place between then and now but right now yes it would be what it would be signaling to you Gary is run for the highs from back in June of 2021 up to the 62 level okay got it perfect that's exactly what I needed hey you're the best thank you so much well thank you that was Gary a new Buffalo Michigan thanks so much for the call we've got another caller on the line it's rose and a rose I don't know where you're calling from but thanks so much for holding how are you doing today do we still have rose ah that's a bummer so what rose wanted to take a look at the CCXI and so hopefully you're still listening here rose I don't know what you were looking for but I'll tell you what the charts are communicating to you so this is chemo centrics here's the ticker symbol and price has been trading above the top of its daily profile yesterday and today so clay that's a bearish structure profile nothing more bullish and a failed bearish pattern so this is just higher price higher but in fact let me get this going on my other charts while I narrate the black background charts we're going to break price is also trading above the top of its or the bottom of its weekly profile so what this tells us rose that price should make its move to 3465 you're above the top of the monthly so you're above the monthly you're above the daily price should make its move to 3465 and then perhaps 4216 we'll finish looking at CCXI as soon as we get back from the screen are you in the market for buying or selling real estate in the Tampa 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 called Tiger real estate LLC today at 727-329-8322 or email us at Tiger at TFN.com that 727-329-8322 call us today the technology around us is changing every day with so much happening it can seem impossible to keep up with all the information David White's investment newsletter the technology insider is designed to give you all the information you need to understand the technology that shapes today's markets and tomorrow's future David White has made his living staying on the cutting edge of technology his weekly newsletter will give you specific recommendations for value tech stocks as well as entry prices target prices and stops to set for each trade Dave delivers his weekly newsletters every Friday with updates throughout the week you can get the technology insider at TFN.com for only $37.50 sign up for Dave's newsletter the technology insider and get an inside look at everything the technology sector has to offer try at risk-free today with our 30-day money back guarantee TFN 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&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 four-side fund services LLC don't forget you can listen to TFNN live on your mobile device 24 hours per day go to TFNN.com then hit watch Tiger TV that's TFNN.com then hit watch Tiger TV folks so we're taking a look at ticker symbol CCXI for rose and you know the charts the symbols themselves it doesn't matter we're agnostic to it because we're pattern traders that's what we do during this one to two o'clock time frame so the instrument doesn't matter the time frame doesn't matter we apply the same tools and here's the monthly charts we're gonna start with the monthly chart which had generated first it generated a TD9 count that took price right back to its oscillator and change line as it's supposed to it eventually held and then price went up and made a roadsman to indicator signal in this case here price was able to break through the bottom of its bullish structured weekly profile that it did it in a big way this is the month of May in 2021 and it brought price all the way back to where it had broken out from now take it all the way down the 768 level actually got down to a low of 953 and then it just made a countertrend rally and I know that's kind of hard to believe because it's a countertrend move that went from that low up to a high of 42 bucks so it seems like more of a countertrend but from a technical standpoint what price did was it made its way up to resistance which was that oscillator and change line and Gary and I would take a look at that oscillator and change line for a new skin and it just shows you how important that oscillator and change line is so right now the monthly chart the week to the downside may have been done but what you know here rose is that you need to see two consecutive monthly close above 35 38 to say on a long term basis that this thing wants to go back and revisit those highs in the 70 area the weekly time frame chart shows us right now that prices at resistance and resistance here is the red oscillator and change line I mean it's right here $30 and 29 cents now closing above that would be helpful because that would then suggest at least a further move higher could unfold or should unfold with a move up to 3465 maybe even 42 16 the daily time frame chart this shows a TD 9 count pattern that is going to form today that says rose at today's high or tomorrow's high should be the high of the pattern and we should see a pullback now if I take a look at the last two TD 9 counts really last three TD 9 count top topping signals that have formed each of those did top on bar number nine and we did see a pull back back to sport last time it was back to the profile the bottom of the profile the time before that it was back to the bottom of the profile the time before that it was back to the bottom of the profile so rose that says that in this case here you could or should expect CCI XI to pull back to the bottom of its profile however this time it might be different and the reason it might be different is because we should have two consecutive days above the top of a bare structured profile now a countertrend move in other words if this instrument is bullish then where price will find support is not at the bottom of the profile which is 2379 but instead at the center which is 2657 so if you're looking to get in you're looking to add to the position based upon the other TD 9 counts and where that took price back to we'd say you'll be looking for at least or anticipate to move to the 2657 area so rose sorry that you couldn't hang on through that through through that last call out there but I hope that answer your question if not just email me Steve at tfn.com or give us a call back and we'll try to get you through as quickly as we can we do have some questions that came in by email the first one from David in top ball Texas and David wants to take a look at SCCO which is southern copper and we're going to do that but first I'm just going to go take a peek at the high grade copper because the two certainly a trade for the most part in tandem so what is high grade cop what's the doctor doing to take a look what the doctor is doing here we can see a breakout now we say a breakout we're taking a look at a breakout of descending trend lines for both the daily and the weekly time frame so all of that looks pretty good doesn't it and it is pretty good except that we can see the price of trading up into the top of a consolidation pattern so the top of that consolidation pattern you know what's the exact high of that consolidation what's the exact high that needs to get taken out to say the consolidation is broken that would be closed with five dollars and 19 cents so that's the first thing out there so we're just in a consolidation we're up towards the top of that consolidation and let's see if any of that's going to impact our thought process when we take a look at SCCO southern copper so let's look at the three time frame charts out here and what we can see is that prices run into a resistance zone got up towards the top of its daily profile that's at 69.85 here we take a look at southern copper we were talking about descending trend lines for southern copper for for doctor copper that had price had broken through but in the case of southern copper not the case so now you can see the resistance level it is that descending trend line on a weekly time frame but let's read David's question he may not even be interested in all this stuff and I've just been blabbering well hopefully not please take a look at support resistance there we go for copper futures oh we did that it did like the way David thinks out here and SCCO so we've got that is SCCO setting up for an A to B equal CD up to the 7531 level so if southern copper can bust through this level I'm gonna give you the weekly A to B equal CD I would think we should get the same thing I would choose about the same swing points here I'm gonna use the conservative one so yeah we'll use the conservative approach that conservative approach would say they take right from here so the A to B equal CD and against the conservative one might get slightly different numbers out here but that's okay is a 7531 would you come up with you came up with 7531 and folks I didn't do this work at a time so I David the answer to your question is you're saying is this gonna form an A to B equal CD the upside and I've got to say right now the answer is no and the answer is no until price able to take out the descending trend line and price is moving into that swing point the swing point from January 17th that had 5.4 million shirts you're certainly moving into with volume so at least that high should get tested 7045 but that's the price that needs that you need to see price close above in order to generate that A to B equal CD pattern so hope that helps you all with regard to support and resistance for both southern copper and for Dr. Copper Dan from New York City writes in and Dan wants to take a look at ticker symbol UPST so let me get UPST I believe that is upstart holdings or something along those lines out here so let's get that fired up on all of our charts come on there we go okay and let's read the question the question goes like this is now a good entry for upstart and does the gap from two days ago need to get filled um well here's what upstart so unless we have a really compelling reason to say by resistance and I don't know that we have that compelling reason then the answer to your first question is now a good entry for UPST the answer is no because price is sitting right at resistance that is a top of its profile the top of the profiles 116 39 prices trading at 116 40 right now so it's really sitting here at resistance so I can't suggest that you do that I can't suggest that a place to an entry point might be 9806 the bottom of that profile don't know you can't bust them up price will try to bust them down now the volume today is good if I didn't mention that 5.3 million but it's going into 11 million shares so it's light in the loafers out there as it goes into that swing point as it goes into where the sellers are at let's take a look at the other charts out here for upstart now prices inside a bullish structured weekly profile this does suggest that a close above 110 61 this week should lead to a move to 154 93 so you've got that going for us but if that's gonna happen we know that the top of this daily profile is gonna fall or gonna fail and we're gonna see a move above 120 75 a close above 120 75 look preferably on more than 11 million shares sometimes you don't always get what you want but in this case here let's go back to the daily time frame for UPST and in the case of UPST what did this do what did this look you've got another resistance level to break down there is 120 97 I'm gonna suggest you hold off on entering this until price pulls back to 89 62 to the 9806 level that's UPST great sharpening your skills as an investor is like getting better at playing a musical instrument you have to practice sure but you also need excellent instruction from experts at TFNN you'll get advice and guidance from the authority and technical market analysis and it's 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