 The following is a presentation of TFNN. The Trader's Edge with Steve Rhodes. Toll free at 1-877-927-6648. Or internationally at 727-445-1044. The Trader's Edge. Now, Steve Rhodes. Good afternoon from TFNN. Welcome to the April 12th, the fantastic Friday 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 is having a great day. Let's make sure we have an extraordinary one. And of course the easiest way to do that, it's to always remember that life. 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 circumstances. Life is going to toss at us. Today you and I, we get to go check on the circumstance of these markets. We get to go figure out what the bulls and the bears, what the buyers and the sellers are communicating to you and I just past one o'clock in the afternoon. I want you to know that I'm absolutely grateful for your presence here but most importantly, I'm here to serve you. So feel free to pick up that phone, dial on in 877-927-6648 if you can't dial in. Let those fingers do the walking. You can always send me an email, Steve at tfnn.com. Inside the subject heading, please put radio show question and in our Tigers Denwell, any ping will do. So let's go ahead and get this show started on fabulous, fantastic Masters Friday. Of course, this is Tiger, financial news network. I'm Steve Rhodes. Welcome to a less show right now that out 250 points. That's nearly 1% to the upside lead in the charts. Percentage wise, it would be the semis up one in four tenths percent. The trainings are up just over 1%. S&P's up 17 points. NASDAQ up 25, meaning green across the board. Spotfire utility next down about 6% or 75 cents. Right out of 12, 27. Gold slightly green up about 80. Silver's up 11 pennies. Lights recruit up 60 cents out there. Booking holdings leading the charts. Dollar wise, that's 22 buckaroonies. Pioneer natural resources up 16. Disney up 12, that's a big move. That's 10% move today. Contra resources up 11, 10% as well. To the downside, it's Anthem Inc. The health sector, XLV is the only sector, well I take that back, the health sector trading down as well, just slightly. Netflix is off 14 bucks or 4%. Regeneron Pharmaceuticals down 11. Molina Healthcare down 10. So, you know, we could take a look at many things. Of course, we're going to take a look at what you want to look at. The first request really coming in, asking if we could take a look at the indices and the sectors and the whole shebang out here. Let's start with, since it's the end of the week, let's just kind of walk through this methodically. Let's walk through this by taking a look at the weekly chart and what do we know? And there's nothing bearish about this. This would tell us at this stage the game there's no topping signal, no topping pattern. In fact, it was the last week when the EES mini closed above the shooting star candle from the week of March 22nd, 2019. Old resistance, not that that was really old, but resistance becomes support. This would say the weekly chart again saying that we go back to the all-time eyes and then some out there. Nothing bullish on the weekly timeframe chart. Let's check in on the daily timeframe chart. The daily timeframe chart is going to show you that the daily market profile 2900 prices above that, 2910. You can see an A to B equal CD pattern out here, 2929 is its price projection. You can see that we are in or it is in. Wave number six, that's letter F on my screen. We're above the TD set up nine count that occurred two days ago. That count with regard to a topping pattern is gone, it's out the window. Once you exceed either days eight, nine or 10, whichever is the highest of those three, then you're not using that as a tool to identify anything. This was just a little bit of a hiccup after that ninth count out there. Not really much of a sideways move. So what does this say? The daily chart for the EES mini, no topping pattern in place. Price wants to move higher. Whether it's 2929 or 2966, or quite frankly, could even be 3015. That we don't know. We'll just have to take things one day at a time. There's anything to be concerned with. It's not really to be concerned. It would be maybe if Monday doesn't make a higher high, Tuesday could be wave number seven, letter G on the screen. We'll just have to look at what's going on then. If we look at the NQ, and we're just going to look at right now, just look at the weekly and the daily timeframe charts just to avoid the noise, so to speak, on the weekly timeframe chart here for the NQ. Let me actually just kind of clean this up just to tad. This was just showing some of the other nine counts out there. Well, the weekly chart nine count, that has vanished. It vanished as well to close last week. The NQ is just moving its way on up to its all-time high out here. That's what the weekly timeframe chart is saying to you and I. As far as wave counts, it's only in the third wave, letter number C, on a weekly timeframe. If we take a look at the daily for the NQ, what do we know? Price is driving higher, doing it with less relative energy out here. And we know that just simply because my tool draws that pattern in. And today could be, yesterday was count number nine. Today's high could be a double-topping signal with it being a higher high than it was yesterday. So that would be the end of the TD setup nine count out there. I'm not saying that this is going to form a top, but we do want to pay attention because the market will communicate to you and I. The bulls and bears have one role to play on a chart, and that's to simply help us identify what buyers and sellers are doing. Right now we just simply know the pattern, which is that price is being stretched without the appropriate strength behind it. It is in wave number four. The A to B equal CD pattern that is set up here says and moved to 78.55. If that's going to happen, we will see these other patterns fail. But it is the industry at this stage here to be paying attention to come Sunday, Monday out there, as well as fun day. If we go take a look at the Dow and we look at the Dow Equity Futures contract on a weekly time frame, this is a signal that says we haven't made a higher high. Kind of interesting. In fact, the Dow Equity Futures contract right now is trading exactly where it opened up on Sunday evening. $26,395 is the number out here. So that is somewhat perplexing, makes you say something to think about. At this stage, a Dow G candle, if this is how the week were to end, really only means anything at resistance. I know others will tell you something else out there. Let them tell you what they want. I will share with you what I know and that is that at this stage there is no resistance. So the Dow G candle just means that the market is a little bit tired. Doesn't mean that it's top. However, I will say, regardless whether it was a Dow G or not, not taken out last week's high is always something to think about. Now, let's go see what the daily time frame chart is communicating to you and I. Is there anything to think about here? Well, there is. And what there is here to think about is we can see the the butterfly cell pattern, not a three drive to a top pattern, but a butterfly cell pattern that formed four or five days ago when that other Dow G was formed out there. We can see that the key level, believe it or not, that price the YM would need to overcome is Stevie's little dashed blue line. That's the high price. So the Dow is saying not so fast. The daily chart for the NQ says be keep an eye on Sunday Monday's price action. But you and I will do. But we'll be right back. We'll take a look at the Russell 2000 Taz profiles in the whole nine years. 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. 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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 sure you have the same information on 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 in TFNN.com educating investors. Call now. Toll free at 1-877-927-6648 internationally at 727-873-7618 Welcome back folks. Dao is up 252. We're taking a look at the markets. We're doing that by looking at the weekly and the daily time frame for the four equity futures contracts. We've been through three of them. The ES mini, the clear message from it is it wants higher price, wants to get back to the all-time highs and then some. The NQ says it wants to move higher but says watch Sunday, Monday and see what the outcome there is because there could be a top depending on the candle that it would form. The Dao says okay you know even though it's up 1% 250 points it's still saying not so fast out there. Let's go see what the message of the Russell 2000 is. Let's go take a look at the weekly time frame chart out here What do we know about it? Hey, it's above last week's high that's bullish. Its resistance zone was set up by that Tommy to Mark set up nine count. That was from the week of what week was it? I'm going to tell you what week it was. It was March 1st, 2009 the high out there is what you'd be watching 160360. That's the level that if we're taken out says it wants higher price. Could even be an A to B equal CD to the upside of the weekly time frame chart out there but we won't go there until that happens if we take a look at the daily time frame chart out here the daily time frame chart shows us what it shows us the price is sitting right now at a resistance point for it that was established by the trading session the date was April the 8th that high is critical high being 1588 30 we're 1589 30 so we're one point above that a close above the 1588 30 level would be bullish and say that price wants higher price so the Russell 2000 testing resistance on a daily basis out here the equity futures contract that is the number that I would be watching there now the request was also to take a look at market profiles let's do it this way J here are the let me let me do this well here the four different time frames out here but I say four different time frames I'm looking at the daily in the upper left the weekly in the upper right the monthly in the lower left and the quarterly in the lower right out here and so those are your profile levels for each of those time frames in summary price above the top of the daily above the top of the weekly this is the ES many above the top of the monthly and above the top of the quarterly what say you what does this say says you're about for resistance so the ES many with regard to market profiles with regard to other tools that you and I looked at we looked at the daily in the weekly chart the message here is is clear now it's clear and unequivocal however if you take a look at the daily time frame chart and you just look at a rising trend line that rising trend line just beginning from the high of March 4th then the high of March 21st price in essence and there would be your three drive to a top pattern out here prices hit it it's just pretty clear it's just pretty simple so another word you need to see some follow-through not you but the ES many if I'm referring if I'm talking to it needs to see follow-through come Monday out there should there be a bearish reversal signal there along with the NQ then then there's a topping signal that would be in play I'm not here to tell you the future I'm here to tell you what's going on right now I'd love to tell you the future futures I'm gonna have a tasty meal tonight watching Sergio Mendez will probably drink a little bit too much sake before hand but that never hurt anyone and in a great weekend of golf it sounds like a pretty good pretty good formula for me and anyway in any event we're talking about the formula here with regard to the equity futures contracts let's go take a look at what is the message for the NQ we go take a look at the NQ here's what we're gonna see the daily time frame out here is got us right at the top of the box slightly above it that top is 76 33 where 76 42 look NQ wise that's really just a smidgen 10 points you know in a heartbeat so prices trading up at resistance a close-up 76 33 75 says okay I'm bullish because it was a bearish structured box above the weekly says a once higher price it is not above the monthly the top of the monthly is 77 78 that's where resistance would be the quarterly says we're above resistance out of course the quarter has intended it won't until June nonetheless price is dealing with a resistance level successfully out here so what's the real message here assuming there's no bearish reversal candle come Monday the message is a close today above 76 33 75 says that price wants to go trade up to 77 78 that is your NQ if we go take a look at the Dow equity futures contracts and we go take look at daily weekly monthly and quarterly out here what the daily shows us is that price is trying to make its way up to the 26 509 level that's the top of the profile out there the weekly chart says I'm above resistance closed above it last week pulled back tested resistance closed back above it this week even though it hasn't taken out last week's high the message from a profile standpoint would be bullish out here if you take a look at the monthly time frame the month obviously has not ended but you are trading above resistance at 25 928 that just says I want to go test resistance resistance for it is going to be above its all time high it just taken a little trend line off of the January high of 2018 the October high of 2018 and that would set us up this month in the 27 160 ish type area the quarterly time frame is above the top of its box as well 25 855 I can't do the Russell 2000 I can but what we're going to get is because of the symbol change out here I'm not going to be able to provide you with monthly and quarterly data but if we take a look at the daily it's above the June contract and I'm using Stevie's synthetic composite contract out here and so this is hey it's above resistance top of the box weekly is above it but if we switch over to the June contract which I think is okay and on the June contract what this is going to show us a different set of profiles now the daily is the same so you're above the daily that says it's bullish bullish meaning what meaning that we're going to get is 16 07 40 in essence it's all time high out there that is the message of the Russell 2000 so I hope that that helps everybody out with regard to what the markets are doing on a daily weekly even longer term time frame so that you can anticipate what the markets next move is in summary I would say we just want to really pay attention to Sunday's activity to help assist us in the future and not there's been any kind of change in trend out there now we had a request to go take a look at the Mr. Bill says can we look at the sectors and see which are participating in an upmarket this way especially the XLF so let's start with the XLF let's just do it kind of like a simple simple 10 way out here what do I mean by that well let's just look at while a couple of different things really let's just take a look at the trend lines are going to show you and interestingly enough it's not like a computer my system drew this in by the way I didn't draw this line but what it's doing mill bill mill or bill or both of you out there is taking the high from March 1st as well as the high from March 19th and must be a coincidence at the high today hit that trend line and it is backed off is that bearish is the high that it's taking out one of them that only had 45 million shares it's trading into December 3rd that has 65 million shares it's got volume there XLF if it can clear that trend line bill I'd write that in says it wants to move higher Steve Rhodes with TFNM we'll be right back we'll take look at the XLK some of the other sectors as well XLK XLF which is pretty strong 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 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 time for the S&P 500 for the last 12, 6 and 3 months timer digest also ranks me as the number one market timer for gold as well the fact is markets can be timed and I'll teach you the exact set of tools that I use that has transformed me into one of the best at what I do sign up for mastering probability today by clicking on the newsletter tab on the homepage of TFNM.com and get immediate access to workshops where I take you step by step how to manage your money 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 that 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 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any traders 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 guardleys, ABCs, 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 TFNM dot com this segment is brought to you by thinkorswim for more information just click the thinkorswim banner on the front page of TFNM dot com welcome back folks so take a look at some of the sectors of the S&P 500 actually I'm gonna switch to the weekly timeframe it provides you with an idea of how the week is done out here I can switch to the daily as well in the case of the XLK a light volume week as it takes on it's a swing point it's all time swing point high it's actually taken it's taken it over it's trading above the level which was 76 27 out there 76 27 that's the number now there was 83 million shares a week of October first it's a weekly chart you're only at 41 million shares it looks to me like where price is headed to bill I would just take the trend line from the highs of August 27th and October the first out there October first was a key reversal session so closing above that is a real positive if we take a look even on light volume so what it is what it is now if we look at the daily timeframe and we kind of use those same trend lines so to speak out here you can see a little bit of resistance perhaps as it moves a bit higher but the weekly message albeit on light volume looks pretty good the XLV is one of those sectors I believe that has not participated well this week it's one of the top three sectors out here we can see how this is traded lower and you can see a trend line to the downside and what this would suggest to you and I this is a weekly timeframe chart that we're looking at but the profile bill that price ran into was a bearish structure daily profile the blue horizontal lines out there and 9249 which was last week's high that in essence rejected price this would suggest to you and I that where the XLV is headed to next not necessarily a final destination would be 8911 you're at 9011 so at least another dollar to the downside below that is going to open up the weekly profiles this is the weekly timeframe we're looking at and I would say 8827 8214 now let's just put this on the daily timeframe out here see if there's anything else that shows up and the only thing else that shows up so price is going to be moving lower you know might want to watch the trading day of March 8 11 million shares today 6 million shares it hasn't tested that area yet but it looks like that's where it's destined that was also right around the daily bottom of its profile that was 8911 out there that was the XLV let's go take a look at the XLC out there often overlooked but shouldn't be because it is one of the sectors inside of the S&P 500 names inside here Facebook and many others kind of the social media space so to speak but it is the believe the fourth weighted sector of the S&P 500 so why is everybody ignoring it I don't know but if we do take a look at its weekly performance Bill looks good to me it's trading above the top of the daily box out there 4836 so this too wants to move higher now 4915 it's truly the center of the box out there we'll see if it struggles to get over that area that's where both buyers and sellers from a weekly perspective are comfortable with price if it can't get over that 5013 is the projected move there the top of that weekly box out here I don't see anything wrong on the daily timeframe prices above all resistance so to speak short term resistance that is Texas T the XLC looks rather bullish to me as well let's go take a look at that energy sector that is XLE let's start off by looking at the weekly timeframe we'll see what its message is out here a weekly timeframe shows that prices above last week but also shows is that it's above the top of its bare structure daily profile that number 6722 nothing more bullish than a failed bearish pattern price right now is above the top of the weekly box that was 6767 you're at 6788 closing above 6767 says it wants higher price now we go calculate higher price out here on the weekly basis 40 million well that you could draw in an A to B equal CD you could draw in a confirmed A to B equal CD not much of a pullback out here that pullback looks like well it was 27% takes you back to its all time highs that would be the energy sector I'm not going to make that call I don't like a A to B equal that's not that I don't like it but when I say I don't like I like to at least see about a 38% retracement out there but neither here nor there if you want to understand the XLE the signal here is pretty simple it's bullish daily and weekly depending upon where today's close is out there so that's the energy sector we go take a look at consumer discretionary XLP now XLP is kind of been an under performer inside of the market although on a weekend and actually on a weekly basis also an under performer and if we take a look it's really a inside week so to speak however what price is doing right now it's trading above the top of the daily profile at 55 95 it is also trading above the top of the weekly profile that weekly profile was 55 79 so watch those two numbers bill a close above that says it wants higher price that was a consumer discretionary sector let's go take a look at the XLI again a weekly time frame is where we're starting off this is our industrial sector not yet trading above last week's high running right in essence into resistance by a penny or so the top of the box 7713 where it's 7715 closing above it says higher price you can see the diagonal trend line that would give you a target in the $78 and change area that's the weekly time frame chart we don't know that we need to switch to daily we will the daily is not going to give us generate any larger signal watch 7715 7713 the top of the weekly profile there bill to provide you with any additional information come the end of the trading session today we got the material sector the XLB the XLB slightly almost looks like the XLI what it doesn't look like though the differentiation is that prices trading above a bear structured box that knocking on the door form today now could be today maybe was it today could be today let me see was it today let me just switch over on the daily time frame chart see if that is the case out there not wasn't the case I didn't think it was the case it was from something to form three days ago nothing more bullish than a failed bearish pattern and in essence that's what you've got with the XR to the XLB so it wants higher price if you're asking me where I'm going to say 5892 as its next move out there that is the that is the material sector for the S&P 500 just two to go utility I take that back just three to go out here if you take a look at the utility sector not much happening out here just trading with inside the daily profile from the top at 5833 to the bottom at 5741 so not much else there really to talk about let's go take a look at the real estate sector XLRE see what it is doing weekly time frame it has intercession made a higher high here's the deal it's trading above the daily in the weekly time frame out here so this looks pretty bullish let's take a look at the daily chart the daily chart would suggest you know prices inching up on a trend line in the 37 ish dollar area and let's go ahead and finish it off we were able to do this during that segment XLY is it the XLY that's the last one that we've got to do out here XLY on a weekly time frame let's put that up you making a higher high you are above last week's high out here you're above daily you're above weekly simply wants to add higher Mr. Bill does that help you out is that the info you were looking for and everyone else out there Mr. Roads with TFN we'll go take a look at who sent in email requests if you are 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 fatenias and pay no taxable the investment is anywhere from 30,000 to 75,000 the interest paid is 7% yearly paid on a monthly basis according to bankrate.com the best rate for a four-year CD in the country as of February 20th is 3.1% a $50,000 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exclusively from TFNN stay informed each day you trade and get the competitive edge that will help you stay ahead of the game visit our newsletters page by going to TFNN.com and click the newsletters button near the top of the page TFNN.com educating investors biotech is booming but for how long whether you think the biotech bull has room to run or has run its course trade LABU or LABD directions daily S&P biotech 30 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 principle 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 for the latest market information so the first e-mail question coming in from Earl Earl says hey Steve hey Earl TLT Continuously Back is this becoming a trend Earl what we're going to do is we're going to take a look at the 30 year t-bond out here and I'll show you the area really to watch right now the law is 146.31 the law is 146.30 one tick below that now 146 say right around 146.28 what we're going to see out here is price test the weekly stevie green line I've got it as a dash level if price closes below that doesn't have to be today could be Sunday Monday is moving below that then a key level of support on a weekly basis you and I just looked at look look the look we just looked at well weekly and daily time frame charts out here so watch that level if there's a close below that then when you say is this a trend I would say there is more movement to the downside likely should that occur now where could price take us to we've gotten I'm using my synthetic contract out here because because of the role and having more data it's profiles will look different than the June contract the weekly profiles would take you to 145.21 and 144.07 the A to B equal CD to the downside would take you to 14 and we are trading below the B point right now so we're trading below the B point that was from the week of April the fifth out here this would say there's an A to B CD that is in play but because we know where stevie's weekly green line is I would not suggest that you go take the TBT right now as an example because you want the market to prove to you that it's going to go ahead and do nothing other than just test support on a weekly basis out here if that fails today then you can take a look at the TBT with a price projection in the 30 year down into the 144.91, 143.92 ish area out there so Earl the pearl I hope that helps you out with regard to what the charts are telling you and I that the 30 year treasury is doing next questions coming in from Mike from Merrimack New Hampshire Mike says I bought ECA let's come out here and put ECA in Kana yeah it is in Kana it's been a long time since I have looked at in Kana but Mike goes on to say I bought ECA in April fifth at 7 bucks it's trading at 750 so nice trade there trading pattern was to sell at 761 okay well it was at 761 the actual high today is 757 out there what do you see today what's the average true range I'm not asking a whole lot are you and you're not you're just asking what's the average true range so I will tell you that the average range for last 10 days is 29 cents out there answers question number one where do you recommend to put the stop at this juncture okay so here's what the let's do a couple of things out here let's look at the bar that prices trading into on a daily basis it's really your resistance so to speak March 19th 23 million shares out there you're up with 28 you're pushing into a swing point today with volume the high there is 765 so I sort of understand where your 761 is coming and you're pushing in with volume which it may take out I don't know if it will or won't so you're asking about a stop out here and it sounds like you got in at 705 and you're just I'm just trying to read your mind out here which is a terrible thing to do but because of what you're asking me you're in at 705 looking for 761 why don't you stay with the trade really now it's pushing in the swing point it should I'll tell you what it should do is at least go test the 765 level maybe it's going to take it out I don't know I don't you know total is 781 is the top of the weekly box out here so there's some more resistance 871 if you can get above 781 would be a good thing prices trading above the top of the daily level right now but it's equally distributed 747 but volume is pushing higher weekly what is volume doing you've got 135 million shares pushing 139 all that looks pretty good but it that just means it's going to go test that high which never got to the top of the box the weekly box that is and no guarantee that this time it's going to either so I give you the data 29 cents your stop needs to be 29 cents below where it's trading at a minimum really more than 29 cents 29 cents times 1.272 at least to Fibonacci expansion then you'll be giving back all of your profits so you don't want to do this I think you had a trading plan you know are we going to fight over a few pennies not that we're fighting but you know what I mean out here so best information what it's telling you right now pay you're above daily resistance you're pushing a swing point with volume says it wants to make a few pennies higher is that worth the risk to you that I don't know thanks for writing in let's take a look at Tim M Tim writes in and says can you check to see if the foreign market if foreign money is still coming into the US I don't even have to look I can tell you the answer is unequivocally yes in huge giganto ways out here so Tim the global flow of capital is parked in having a blast here in the good old US of A that is going to continue quite frankly it has been that global flow of capital that has taken us from the lows in December all the way back up to the highs of October of last year yeah it has if we take a look at right now let's not look at this chart but just simply come and take a look at the Dow equity futures contract priced in both euros and in dollars we made a new all-time high this is a monthly chart new all-time high last week that bodes well for the Dow in dollars eventually making a new all-time high we're still in a consolidation really quite frankly in both but yeah and even in December just to show you the global flow of capital who was buying first the swing point I'll put an arrow here we just put two arrows for Tim and for but let's use blue here's the here's the calendar here's the February lows that formed in both the Dow priced in dollars whoops I guess I have to choose the arrow key out here both in dollars I'm going to move my cursor away from you can see the month so it's those blue arrows were both the Dow in dollars and Dow in euros bottom right now in December the Dow price in dollars pushed through that area closed above it by the end of the by the end of the month that told us the consolidation was still in place but back in December price never pushed through it you just came back to test it and from there you had the European money probably UK money too just simply pilot on in saying thank you very much Latka right from taxi rates had come I wish I could say how he would say thank you very much I didn't really say thank you very much right but you kind of know what I mean in any event Tim the answer to your question is yes the global flow of capital continues to pile into the US and it will continue to pile in to the US just think of it like this Brexit's been pushed off until for another until October or something you're sitting over there in the UK and we're not looking at the Dow granted in pounds out here but it's all really kind of referring to Europe you're just looking at this Mario Draghi's got issues there's issues over in Paris they're just so under really in all of France they're so underreported here I have friends just a few of them over in France they say the yellow vest movement is alive and well and ticking won't stop ticking that was timings and dot com we'll be back we'll answer deep's question about TZA see Rose with Tia since 1984 Basil Chapman has been using the Chapman wave methodology to advise traders of his expert market opinion while originally hand drawing charts from the late 1970s into the 1980s Basil noticed that prices under most circumstances virtually always had a certain number of legs to the upside before declining sharply later Basil found that computer software which included the standard market technical indicators enhanced the degree of accuracy in calling price turns as well as market trend calls thus was born the Chapman wave sequence using the Chapman wave methodology along with other indicators Basil Chapman advises his subscribers of his expert market opinion each market day with his opening call newsletter right now you can get a two week free trial of Basil's opening call Basil's daily trading newsletter by visiting the front page of TFNN dot com cancel at any time during that trial and pay absolutely nothing get your two week free trial of Basil's newsletter the opening call today by visiting TFNN dot com 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 $2,000 in 2011 and after spending many years consolidating at lower 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asking if you should close out a losing trade in TZA now I don't know the full extent of your trade whether you have the proper position size whether you just risk 1% on the trade so you've got stops in place on this or not assuming that you do then let's go take a look at the message of the markets and what I would be watching come the end of the day's session out here and that is the Russell 2000 equity futures contract I'll put up the Russell itself they're kind of doing this here's the Russell 2000 equity futures contract my apology the high from the day of April 8 it's 1588 30 you're at 1588 10 that's a resistance level it's not one that most people would have been able to have identified but if price closes below that then Pradeep you know that at least resistance held and would logically say hey you've got the proper position size it was a trade that you put on and I could justify staying with the trade at that stage with regard to the Russell 2000 cash in to see out here the number to be looking at here and it's going to be from the trading day I've this got green arrow green lines instead of the blue out here is the same day April 8 and the high there is 1588 30 you're 1588 even Steven out here if you get a close above that you know a key level of resistance will have been broken and then you're going to have to make the decision whether or not you want to take the risk because resistance has failed out there that's the best that I can share with you are the reasons to stay in inside the Russell 2000 potentially the five hour time frame chart that finishes here at two o'clock you've got price moving higher doing less relative energy and a dark cloud cover but you can see price sitting right on Stevie's green line so that's not really a conviction move to the downside at least not just yet that was a five hour time frame so Pradeep best of luck I hope that info helps you out and I hope all the info helps everyone out there thanks so much for being here today folks and during the week stay tuned David White's up next I'll be back with you on magical Monday have a terrific weekend take care