 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 June 7th the fantastic Friday edition of today's Trader's Edge show I'm your host TV perseverance Rhodes who absolutely knows that each of us should always be pioneers of our future versus prisoners of our past Hope it went out there's having a great day. How about we have an extraordinary one? Let's have an extraordinary weekend and the easiest way to do that It's to always remember that life is happening for us Not to us That's right. We knew and I make that one little two-by-four shift means we can find the gift in every set of circumstance that a life is gonna Toss at us now today. We're gonna go check on the circumstance of these markets We're gonna go figure out with the bulls and the bears but the buyers and the 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 more importantly during this next hour, I am here to serve you So feel free to pick up that phone. You can dial on in at 877-927-6648 if can't dial in We've got you covered let those fingers do the walking But let them do the walking early because I'd like to get to your request Send me an email Steve at TFNN.com inside the subject heading Please put radio show question forcing our Tigers then any ping will do so let's go ahead get this show started on Fantastic Friday, of course. This is Tiger financial news network. I'm Steve Rhodes welcome to less show right now That I'll trade up 307 points the print is 26 028 S&P up 37 NASDAQ up 154 It's mean and green across the board if you take a look at my if you watch this on Tiger TV You'll only see three red figures one for Franco, Nevada That's off 51 pennies US dollar index down 542 ticks and the Japanese yen trade out at 1 0 8 0 6 otherwise it is a green across the board But what does that mean jelly bean great question great question out there? So Just as we were coming on the air. I was just fiddling around with this chart here So it's not a well thought out chart. Well, then why the heck am I sharing it with you? Well, the question is okay. We know I mean unless them Unless the markets just sell off and I'm look at the NDX 100 here That's what we have up on our screen. This is a weekly time frame chart and it was the NDX that really To a certain extent got the kibosh got things really rolling to the downside What you'll notice as we speak right now, and I suspect that will end the week this way You've got a big old bullish and golfing candle session They don't happen that often on a weekly time frame. So it shows you the power of this week So I just posed the question to myself And I didn't know the answer when we get those bullish and I don't trade just on Candle sticks alone as you know that in the daily time frame charts We can see the a to b equal cd to the downside that also had the bullish reversal signal We don't see that we we don't see that on this weekly time frame chart here But if we just take a look at what to anticipate next week out here How often does the NASDAQ 100 produce a bullish and golfing candle and that's the end of it out here And if we take a look at come back the last time we saw one was in July of 2016 Remember the market has to be an established downtrend in order to be able to generate a engulfing candle Well downtrend or uptrend. It's got to be in a specific trend out here So July in 2016 market moved higher after that We saw another bullish engulfing candle in October back in 2014 market moved higher after that We take a look at 2013 market moved higher after that If we come out here, we take a look at April 22nd 2011 market only moved higher for one additional week out there But still moved higher the following week and that's really what I was trying to sense In my mind is what's the likely outcome for next week as well in other words Is this is just one big massive go ahead and sell this rip Well, you make that decision if it was the NASDAQ that pulled things to the downside Just take a look at this weekly chart and I would say caution will Robinson in fact I would say don't do it if you take a look at this bullish engulfing here in February just take a look at that move. That was by the way That was February in 2010 come back here to 2009, of course the March lows out there bullish engulfing now here when we were it's truly in that established bear market out there the week of October 31st 2008 that was it. That was just a one week move and there was that continued move lower out here But that's not the market conditions that were in so we should anticipate the markets are going to continue to move higher Now that lines up. You can see all these other ones. We're already back to 2002. So we're going back 2002 or 2019 You can see we've gone back Plenty of years to give you a feel. So for those of you thinking of selling this rally Hey, best of luck to you. Maybe you're right out there. I just like I said, I haven't this chart is not necessarily well thought out although you can kind of see what I was thinking out there and so Be cautious be cautious be cautious now the reason I was looking at that and you know, I heard Tommy mentioned it Maybe bad. I just didn't caught just a few minutes of Basil's show out there But you do have that spot volatility extraded above the 50-day exponential moving average at 1636 It is what it is if we take a look at market breath out there I see Fletcher typing in or typed in something about those that is why thrust problem pattern You know what I haven't done out here Fletcher's The New York Stock Exchange advanced decline data has been so weak the last couple of days that I didn't update my swag thrust charts out there, I'll Try to do that during the break And and and I'll see if I can do that I won't be able to update the pattern necessarily on my charts, but maybe I can just look at the data It's just a spreadsheet and I just need to to update it But one of the things that we can see here is we can see that the New York Stock Exchange It's advanced decline Oscillator now well above zero it closed above zero yesterday when you close above zero on day one You're never sure is it bulls or bears or buyers or sellers that are in control of the market because it could just be a false reading What I mean by that is following day the oscillator would get back down below zero Well, that's not the condition that we're in right now. You're having foul through so the next over bought condition Or condition where we could see some type of turn to the downside Would likely be when this advanced decline oscillator gets up to plus 150 so if we put that together with the not well thought out NDX 100 charges taking look at bullish and golfing Candles on a weekly basis out there let alone. It's a key reversal week as well I'm noticing the pretty good chance that we're going to be moving higher into next week And maybe it's at that 150 level where we get that failure out here that failure combined with the spot fix index Being above this 50-day exponential moving average that would say okay. That's where the counter-trend rally Cooters should fail, but it doesn't appear to be right here at 114 in the afternoon And as much as you might like to sell this rip The chart patterns just simply say don't do it Steve Rhodes with TFN and we'll be right back the Taz profile scanner is the most Revolutionary piece of trading software that you will ever try wouldn't you like to approach the markets with confidence as you begin your trading day It's likely that you'll be faced with lots of decisions in order to make the best decision The first thing you'll need is a strategy that will help you minimize your risks Whether we're in a bull or bear market a good strategy is to have the tools needed to help you scan and analyze the Markets before you trade the Taz profile scanner instantly scans and filters over 2,500 global financial markets such as stocks ETFs commodity futures and forex headed by Steve Dahl President of Taz market profile the Taz profile scanner understands that in today's Technological world the use of top-flight software applications automated trading algorithms and technical analysis Expertise is essential to successful trading in today's market whether you're looking at the trade matrix the etf Heat grid the market breadth the landscape charts or the many other features of the Taz profile scanner This is a piece of software that will revolutionize how you look at the markets and set up your trades The team at Taz has even put together a 12-part video series to walk you through every aspect of the Taz profile scanner Which you can find directly on the Taz order page at TFNN comm sign up now for only $97 a month with the risk-free 30-day trial So you have nothing to lose and everything to gain see for yourself How you can harness the full power of the Taz profile scanner by visiting the front page of TFNN comm today And you'll find the Taz profile scanner under the services section remember with a 30-day money back guarantee You have nothing to lose don't let another day pass you by without trying out this amazing piece of software that will Revolutionize how you look at the market and how you place trades sign up today Steve doll and Tom O'Brien have just announced a special webinar on June 19th for all Subscribers to the Taz profile scanner Steven Tom will break down the trade matrix Market-breath heat grid as well as the three-step process you can use with the Taz profile scanner to identify Market movers and how to capitalize on that move for all the details and to get started with the Taz profile scanner today Visit the front page of TFNN comm with a 30-day money back guarantee. You have nothing to risk go sign up today TFNN has launched our brand new website. You can still visit us at the same TFNN comm 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 comm now and experience all the upgrades TFNN comm educating investors Call now toll-free at 1-877-927-6648 Internationally at 727-873-7618 Welcome back folks. Let's go to a couple of questions that have come in the first one came in from Mike Yesterday afternoon and it's with regard to Mike. I apologize. I forget your question per se I can't access it off my phone here, but it was just really looking for I know you're in a trade on Win and just to add I guess asking the question, you know, what's what what do the technical Patterns look like for me. So here's what we know right now That the win is on a daily basis That's left-hand panel of chart is trading in between its profiles out here and that's between 108 82 at the bottom in 116 33 I can't recall but for something is sensing to me that your long win In order for win to get its mojo back You need to see a close above that 116 33 level If you can sort of notice now the center of the box at 113 33 It's so it's a barest structured box Meaning that center line is closer to the top than the bottom and so sellers really reside between this 113 33 level Which is essence is about the high of the day today and that 116 33 So figure think about this as a football game. We know what the field looks like That's our chart and with regard to where the Yardage markers are in order to get another first down out here win has got to close above 116 33 out there. There's no pattern that I have per se out here There's no a to b equal CD to the downside that I could draw in. There's no rose momentum the indicator bottom There's no wave count letter G. You did get to letter F. So wave count six There's there's there's no there's there's no TD set up nine count So I don't have anything out here to say, hey, this is a solid bottom from a pattern Standpoint out there I certainly don't have that in the weekly in the weekly chart as well below the bottom of its profile out there as well as Stevie's red line. So this says careful We can see the nice bottom out here back in December of 2018 and maybe that's where price is headed back to You know from a volume standpoint this week You're you've traded lower with 10 million shares. Yes, you're up, but you also traded lower So 10 million shares and down to that bottom. You're at about 12 million shares You're towards the bottom of the monthly profile mic, which is down at 100 point four six, but Yeah, so At this stage here the only thing that I can say with regard to win with regard to the patterns that I used to help identify Tops or bottoms in this case here at bottom is that you got a countertrend rally to 1 16 33 And that's where it should lose its steam if it closes over that then at least from a There's more bounce in its step out there and it's be the 133 level right now, which is the bottom of its weekly profile So I hope that helps you out and thanks for writing in We've got We've got a question from Alex Alex writes in and says Hey Steve hey Alex I bought Apple on Monday at 172 is it headed back to over 200 So let's go take a look at a APL is the ticker symbol and as we take a look at yet Let me also get up the three time frame charts out here So we're gonna take a look at daily weekly monthly and daily you're above the top of the daily profile So that's good Alex on a weekly basis. You're just getting inside its weekly profiles. In other words, it's regaining. It's trying to regain Old resistance. So as long as Apple close above 1 87 65 today Alex, you're in good shape And when I say good shape that would suggest that price would move up to 196 87. That's the center of the box That's fairly close to your 200 target the top of the weekly boxes 209 16 I would could take this one step at a time out here I believe I would take it one step at a time if we look to the daily time frame So unlike when resorts in the case of Apple we can identify a clear bottom Using the tools that you and I use to identify tops and bottoms. What is that? You can see the TD set up nine count and you can see wave number seven letter G So you've got two so unlike when Mike and I were looking at when resorts here What you and I can do is take a look at Take a look at just simply the daily chart for the Apple pattern You can see that rose momentum indicator top you start doing the wave count to the downside You get to letter number G You can also take a look at the Tommy DeMark set up out here You get to number nine you get there on the trading session of May 31st the following day makes another thrust lower June 3rd Remember that bottom can form on bars eight nine or the bar following nine Line it up with wave number seven So yeah, I think that this is going to continue to move higher But I will reserve that Alex to making sure that this week you see a close of a point eighty seven 65 but it looks pretty good with Apple Apple likely to continue to move higher. Oops. Wow. How did I do that? I got a solution Maybe I don't have a solution. Oh, I don't have a solution Sorry about that folks. So I somehow deleted that daily time frame chart out there We'll get the screen back up there So I'll just re-establish that during the show but whatever I was going to show you I was going to say that looks I believe that today may be day four of that TD set up nine counts So maybe that's what's going to call the top for Apple out there So if that helps you out and best of luck with the trade Hector writes in and he says Steve all your seasonal chart has been spot on great work and Bev has closed the window from April fifth Is this baby ready to fly to the moon? Well, I don't know about flying to the moon But let's go take a look at and Bev out here and I'd like to use my other chance. I really Need to I'm gonna do this. It'll take me just a moment. Let me I create a new chart here new chart Because I really sort of need that I really sort of need that to best answer the question Let me so and in my apology here. I did not mean to delete it But it should just take another moment here zero MP daily without the Taz So I'm just going to a template that I've got and then this should take just another moment But so we take a look at Hector and Bev out here, you know, price below the weekly profile Price below the daily you're getting a nice key reversal session today But what do you and I want to do is see if we can get that key reversal session inside of nbeb To line up with some type of bottoming pattern and then we can go ahead and give it the all clear fly to the moon Type of scenario you're looking for now as we take a look at nbeb. So here we go. We really don't have that We just don't have that out here. So I can't I can't give it the all clear You know, there's an a to b equal cd to the downside that hasn't completed. This may be the pattern. That's under Shoot, this may be the pattern that is underway That would say that nbeb could get down to about 362 Today today could be day number eight of the nine count. So so so a slight reservation there Hector We do know that We do know that Anything for any time frame can make a bottom with that TD set up nine count So what you would need to see on Monday would be a close below I'll give you the level out here You would need to see on Monday in order for today's low to be that low that you're looking for You would need to see on Monday nbeb close below 484 today it actually has to close below 476 so that would be a bottoming pattern and that would give you the all clear, but we won't know until really Monday or Tuesday, so We can't give it a moonshot call But it has some potential it has some promise Steve Rhodes with TFNM will be right back I'm certain you are or strive to be one of the best of the best at everything you do in life It's the most common trait that we tigers and tigers to 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 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 And what I do sign up for mastering probability today by clicking on the newsletter tab on the home page 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 The path of least resistance is David White's daily trading newsletter And if you're looking for active trading ideas then now is a perfect time for a 30-day free trial to this powerful daily Trading advisory service David uses his years of trading experience to offer his subscribers his trading ideas each morning in his path of Lease resistance newsletter using a combination of equity trades along with options David keeps his subscribers up-to-date with all pertinent market information with intraday afternoon updates when warranted Don't miss out on this great chance to get a 30-day free trial to David's daily newsletter The path of lease resistance with no obligation to pay anything David has been delivering solid Recommendations for his subscribers recently and if you'd like to see the type of newsletter He delivers every morning then visit the front page of TFNN And you'll find the path of lease 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 best-selling 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 art lease ABC's butterflies and much more the art of timing the trade charts is designed to help you when Scouring the markets for stocks just beginning to form the trading patterns that many investors spend days weeks or even months Searching to find and right now. We're offering licenses available at only $79 a month. We are so confident that you're gonna love this new charting software that will even give you a 30-day Unconditional my 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 Hello, hello, hello We're back. Okay, great. Okay. Sorry about that folks. It was like connection issue, but we seem to have resolved it so we've got another question here this coming in from our Brendan in Boston and Brendan wants us to go take a look at Nugget Nugget we'll go ahead and put that up on the screen, but Brendan what we're gonna really do is take a look at the one Hello, hello. Hello. Hello. Are we back? I can't I don't hear anything. So I'm hoping we're back. Okay. We're back All right, folks are about that. So we'll take a look at the Nugget out here nugget And we're just really talking about how price is above the daily and the weekly profiles and that is a positive From the monthly standpoint, this would suggest the price get up to 2493, but let's really take a look at the GDX That's the better way or even the XAU for you and I to be able to cancel this with the heck For for you and I to be able to assess what's going on here So let me get that going on my other charts as well and really here's what I want you to focus on and pay attention to Looks like today is going to be day number eight of that the TD set up nine count And as we know on days eight nine or ten really bar after nine is when you could see a high now The positive is that price is above its breakdown resistance level that was right here on April the 12th And that number was 2254. So that's a nice positive out here So on the daily timeframe, it says hey price should want to continue to move higher But we can't stop there Brendan We've got to at least take a look at the weekly and understand if there's any kind of resistance and now we see the resistance Inside of the GDX and we can see that price is trying to tackle that level and where that takes us back to Brendan Is the week of July 13 2018 and from that week, that's really where the breakdown We didn't know at that stage that's where we were going to see the breakdown And we consider that to be the breakdown level because of that nine count to the downside nine consecutive weeks with the close below the close the prior With the bar four bars earlier and it sets up a resistance point We can see how price just squeaked above it slightly the week of February 22nd But then the following week March 1st, 2019 It's just simply rejected that so here on the weekly chart for you and for every other person Is trading the mining sector using the GDX or the nugget pay attention to the GDX out here You can see this resistance line and what you're looking for is a close above that I think I gave you the price I want to make sure that I give you the price that is 22 93. What happens if price doesn't close above that today Not much, you know that resistance held just keep stops in place Just be cautious because on that weekly chart that daily chart you're potentially and we don't have that Yeah, you need two more days need today in and Mondays trade action before we can make a determination whether there's another Nine count pattern that is setting up so as we'll try to we'll we'll we'll go ahead and integrate this In looking at the mining equities into gold and try to understand, you know, what's gold doing? So on a weekly basis, we've taken a look at this too and it's dealing with resistance right now And we don't know the breakdown in gold after it formed this Gertley cell pattern This is a weekly chart that we're looking at you can see the Gertley cell pattern We know that on the weekly basis gold formed a TD set up nine count That was the bottom or as the body was the week following bar nine out there and now Price is trying to get above that breakdown level of that 1340 40 were five bucks ahead of that level right now But I don't know where we're gonna be come days in so what happens if gold closes above and the GDX closes below then you've got Confusing information that's all but it doesn't mean you exit necessarily because gold could be the leader out here So Peter when I take a look at gold I just don't know where it's gonna end the day if it closed below 1340 40 It just tells us that resistance is held It tells us the cell patterns that were out there are still in play and it just says tighten your stops on the trades out there In the mining equities that that's you know, and that that's the that's Now doesn't say sell right we would do the same thing today that we did yesterday What was that if you weren't here? Well, we took a look at a 30-minute chart We said before you could possibly say that gold had topped out You've got to see a level of support in gold fail and we made it easy by easy peasy We just simply gave you the number that gold needed to close below and what we used was a 30-minute time frame chart And we use the same resistance and support line set up by this nine count And so what we know is if we take a look let's just get a crosshair out here makes a little let's get the real crosshair So right here at that two in the morning. This is on June 6 And two in the morning we had those nine consecutive moves up and that set up that support level that support level 1335 30 what took place out here at 2 30 in the morning. That was this morning Was that this morning? No, that was yesterday morning. I take that. Yeah, that was this morning June 7th In the right day. So at 2 30. What did price do? Closed right there at 13 35 30. How does that work? Well, I'll tell you how it works price comes back to a breakout area Price came back to the breakout area to a 30 3 3 30 That was all that the traders needed to know needed to see and then price has since moved higher So the cool thing is is that is a really important level of support You can't exit any of those trades until you start to see a level of support broken and for gold on a 30-minute basis You know the magic number so would watch that too out there with regard to The GDX the nugget gold specifically now in taking a look at those lines The one thing we took a look at the chart that I put up for the weekly on the NDX 100 It's a confused matters out there But you know if you're gonna ask me what else is it that Stevie is looking for come the end of the day Oh, I gotta get to the right space workspace out here or did I put it right there? Yeah, I did here's what I'm looking at inside the ES mini specifically and What you have out here are a number of these resistance zones or breakdown zones And this was courtesy of the move lower inside the ES mini But using the two-hour time frame chart and I had heard Basil talking about a two-hour chart But I wasn't really paying attention But if you take a look at this one green line where it has been the blocker of Resistance by the way that price point out there. I believe it's two eight eight eight point two five We see a close above that today That is a bear Boy Blano bullish message For 28 8 to run right now 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 comm the best rate for a four-year CD In the country as of February 20th is 3.1% of $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 you 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 comm what are you waiting for? 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That's TFNN comm and hit watch Tiger TV for the latest market information Welcome back guys up 296 S&P's up 35 but Tucker in the den wants to take a look at oil as does a Brent in California, so let's go take a look at oil out here and for for both you Brent and Tucker Here's what we know about light sweet crude and what it's done thus far There's really two completing patterns that took place yesterday Whoops one was the a to b equal CD to the downside and you we've got that posted in the den yesterday when we were talking about light sweet crude We were taking a look at the one to two a to b equal CD pattern We were also taking a look at the TD counts out here And we noticed that the low that had come in just a couple of days ago was that bar following bar number nine Indicated that that too could be a low what we needed or what oil needed was a bullish reversal candle And that's what it generated yesterday, and you're seeing a bit of a foul through out here right now So Tucker and Brent what I would say at this stage here with regard to lights We crude is price wants to go target Stevie's red line that's at fifty five dollars and 18 cents That's the next targeted if price can close above that then you've got a rising price oscillator below zero But still the rising price oscillator says that there would be more should be more of a more of a move higher So fifty five eighteen is one level the second level that we would just go take a look at is Where is the top of its new daily profile? Let me get rid of this a to b equal CD to the downside and coincidentally It's a three pennies away from Stevie's red line and that number as you and I know you're gonna change So you got fifty five fifteen is the top of the daily box out here So the cool thing about lights we crude is you've got two patterns that have identified a bottom This bottom is a higher low than the prior bottom back in December of 2016 And if price can close above fifty five fifteen or whatever Stevie's red line will be at that time It'll be more than fifty five fifteen But maybe it's fifty five and a quarter or something along those lines So a close above both of those would then say that the rally will continue now Where can the rally go to well? We would just simply come back here just to the daily time frame chart And our initial price target to the upside would be where the breakdown began and the breakdown even though It's not the high but the actual breakdown began on May 22nd and that level would be 62 78 so if lights we crude can find its mojo and get above the 55 18 ish range Then you've got quite a move that would be underway 62 bucks It's always possible that this is nothing more than just a little countertrend rally price will find resistance at both the top of the profile as well Stevie's red line deflect lower and then that could just mean hey price is going to go test the bottom at fifty one fifty one or That rally or countertrend rally is done with and lights we crude is getting ready to head even lower so that's what I see when I take a look at the lights we crude and Weekly profiles aren't really going to help us. So we will just simply go ahead and ignore that and you are Welcome Tucker and I'm sure Brent as well. Let me see if there's any other questions that have come in And thanks for sending all these questions out there Always good to get it makes the makes me stay focused for the most part. So now I'm totally unfocused What is it that we're going to go take a look at I think I've covered everything out here and So was I gaze at the screen? What should we look at what what should we look at that would be valuable information for you? And I just don't know what that is and yet we've got more time left than the show. So let's just go take a look at some Issues that are moving inside the market. Let's take a let's take a look at Amazon Let's go see what it has been doing here lately AMZ and as a ticker symbol I've lead in the charge to the upside dollar wise Back inside a daily profile Let me go take a look at the other chart system out here. See what we can find for Amazon So here's a here's a here's a beauty got Amazon trading at 1799 and what it's doing out here Remember when Stevie's red line or green line both colors When it changes colors and in the case of Amazon what we know is it change colors kind of like a chameleon or a Comedian out there and it did that on May 31st now when that Takes place tells us the price oscillator is at zero. It also Sends a warning shot across our bar bow That says you should anticipate that price and that line are going to catch up to each other And it's really going to be that test that is going to go ahead and communicate to you or I with the real Intent of the instrument is in this case here the instrument is Amazon if the intent of Amazon Traders of Amazon was to say that this was just a countertrend rally then price should have stopped at 17 91 30 now I and you don't know where Amazon is going to close at the end of today's session But if it is above 1791 30 as it is right now at 1799 It's telling you there is more rally left in it. It is as simple as that more rally Steve oh to take it aware. Well 1849 27 will be the top of the daily profile I would say that would become the price target. We do have a question in the den. It says ZN weekly chart see the three-year weekly chart avoid Today's high is the exact test of the point six one eight. Do I have a guess about? Zn The 10 year and so let me see If I can pull that up here the contract just rolled I should have it So let's go take a look at it So here when I take a look at the and I take a look at the daily time frame chart For the a 10 year what we what we know out here So what this did have John in it that the so-called potential topping signal was was a TD set up nine count But today we had a slightly higher high and so I have to Discount that and say now that wasn't the topping signal that was out here. And so if I just do a count To the upside You know now it says well, there's a couple different places to do your counts from That says we're only in wave number three. Let me come from here from that D Leg so here's one possibility. So let me just do this. So it's not magic out here Let me let me let me change. Let me just change one tool so that the counts aren't numbers not digits But instead they are also Letters out here. So here's what I've done again. This is this is not Basil's work This is Stevie's work and and how I do this with regard to Renumbering so if I came all the way back to this law on April 17th, and we began doing the counts I see it get to wave number seven out here Does this on the trading day of May 15th now that likely is the place where we should really begin our secondary counts from and and that's where I was using the May 21st level John and if we do those counts We're only in today was count number three come Dracula count number three and as you and I know and you've got a price is above It's rising price oscillator. It would say to you and I that this still has further to go to the upside I could have started my count right here after the fourth wave and then that would say well You're either in wave number seven or wave number three. So and that's that's still a valid Possibility out here, but not until we would see a close below Stevie's green line out here Would I be able to say that okay? There was that that was the seventh wave move and that was the top out there That's what I see when I take a look at the 10 year if we go look at the 30 year out here You know in euros pulling back a bit kind of a Uncertainty is what I see when I take a look at the 30 year. We'll be right back Basil Chapman has a special subscriber webinar coming up Wednesday, June 12th at 5 p.m. Called the tide in this webinar Basil will be demonstrating techniques that can help one identify Whether the tide is coming in or going out that is whether a trend is bullish or bearish in a variety of time frames and Basil will be speaking specifically to indices currencies commodities interest rates and key stocks the technical tools that basil will be Discussing are available on almost all software packages that will be shown in historical context as well as live for current market setups Identifying the key trend allows one to trade with the tide rather than against it Subscribers also gain immediate access to three archived workshops so you can get started right away when you sign up For all the details on the opening call and Basil's upcoming subscriber webinar of the tide this coming Wednesday Visit the front page of tfni.com and sign up today It's amazing to think that Tom O'Brien started his weekly gold report 17 years ago with the first issue published April 7th 2002 when gold was trading at under three hundred dollars per ounce gold peaked at more than $1,900 in 2011 and after spending many years consolidating at lower prices gold may be poised for its next big run Tom O'Brien publishes his weekly gold report every Monday morning for subscribers consisting of coverage of the XAU HUI GDX the dollar bonds South African rand as well as 25 different mining equities with specific buy-sell recommendations as of April 1st of this year the gold report currently has eight active positions with an average unrealized profit of almost 8% for each open trade new subscribers get a 30-day Moneyback guarantee so you have nothing to risk for all the details and to start your gold report subscription today Visit the front page of tfni.com don't let gold's next big run pass you by sign up today You know what school taking something that's good for you something specifically formulated to help with weight loss better sleep stress reduction and the need to detox Niko our hunter and gatherer ancestors found all their nutritional requirements for health in their wild environment But today our food sources no longer contain the vitamins minerals and nutrients our bodies need to stay healthy and strong That's why we need primal edge daily nutrition It includes a special blend of ionic soil based vitamins minerals fatty and amino acids and an easy to use liquid form Primal edge is powered by highly concentrated folic and humic acids nature's preferred delivery system They've been called miracle molecules because like sunlight air and water life cannot exist without them That's right page. They ensure we receive all the nutrition. We need to be healthy and thrive We take it every morning primal edge formulated and approved by Niko and page of living a primal lifestyle buy it today For just eighty nine dollars click on the primal edge banner on the front page of tfn.com This is David white stay tuned because coming up next is the power trading hour Right here on tfn Welcome back folks. So you get the dollop two eighty nine Let's take a quick peek see if anyone has written in and I don't see anything So what do we want to do? What do we want to do folks? What is it that somebody's looking at out there? I think the market has given us a clue towards Something something here to watch for I know where everybody's really interested in the precious metals and so forth I don't know if gold has the same pattern or not. It does not but if you take a look at silver And we look at the silver's a short-term top out here. You can see the TD set up nine count So what that says we could see that silver is pulling back out here And so the silver may pull back to support which is 14 Point eight eight out here. That's what I see when I take a look at what high-host silver is Doing and one of our dinners spotted the fact that the GDX has turned just slightly Red it's off by two pennies out there, but the gold's only up to 80. So That one's a tough call It really is a tough call, but no levels of support have been broken. So you can't Well, you can do whatever you want. I'm just saying it's it's pretty tough to Try to suggest You know something nefarious out there. Okay, so we do have some questions that are coming in This is great. Let me make sure I get the first one in is the first one out We use that FIFO system here. This one coming from Richard S. If I've not discussed this I noticed the VIX is up and the S&P is up. Yes. What do you think is going on with this combination? I don't know. I do not know the answer to that question. I wish I did Here's what I have seen it before, but I don't recall the meaning or even if there is a meaning I would say it just says to be cautious out here I think Richard and I'll just restate this. Here's here's what I here's what I really Think is the likely outcome. Oh We're going to oh we're the show is over. You have to wait till Monday. Just kidding the New York Stock Exchange We have to watch its advanced decline oscillator as it gets to the plus 150 level. You're only at 93 today It won't happen today. So it's going to be an early next week signal Let's see where the spot fix six spot fix is when that is taking place folks. Have a great weekend Thanks for being here. We'll see you on marvelous Monday. Take care