 risk sign up today. The following is a presentation of TFNN. The Traders Edge with Steve Rhodes at 1-877-927-6648 or internationally at 727-873-7618. The Traders Edge now Steve Rhodes. Good afternoon folks. This is Steve Rhodes coming to you. Well, that's the one o'clock update. I always forget where I'm at, but hey, welcome to the September 24th, the Thursday, Thursday edition of today's Traders Edge. So I can get right back on track. No problem. Well, maybe there's a problem. Look, welcome to the show. Great to be with you. We're just going to kind of cut to the chase out there. I would love to hear from you and you can give us a call at 877-927-6648. This show is really all for you. I'm here to assist you in any way that I can provide you with weather data and information. So one way is to give us a call. If you can't call in, you can always send me an email. If you do that, go ahead and send it early. You know, internet service providers, sometimes you send an email out early. I don't get it for 20 minutes. Sometimes it's after the show. So send that to Steve at TFNN.com and inside the subject heading, please put radio show question. In our Tiger's Den, well, any ping we'll do out there. So let's go ahead and get this show started on a terrific Thursday. Of course, it's September 24th out there. I'm Steve Rhodes. Welcome to Lush Show. Right now, we've got all the indices trading to the upside out here. Yeah, all of them. The Dow's up 200, S&P 28, NASDAQ 144 out here. So were there clues this morning to suggest that we should see a bounce? Well, during the 1 p.m. update, I certainly gave you an end of day clue yesterday, that end of day clue. Again, if we just simply take a look at the advance decline oscillator. Now, the advance decline oscillator for the New York Stock Exchange, or for any instrument that is, in this case here, we're looking at the New York Stock Exchange, is going to be the difference between the advance decline line. It's a 39 and 19 period exponential moving average. So that's what we're looking at here in panel number two, panel number three. Panel number two happens to be the advance decline line out there. Now, when that advance decline oscillator gets below zero, if it's below zero for two sessions in a row, basically the signal is sellers are in control. Above, it's zero threshold, buyers are in control. Now, they get to extreme oversold, extreme overbought conditions. We take a look at the oversold conditions. When you get down to the minus 150 level out here, that's where you tend to see bounces or bottoms. Well, yesterday got down to nearly on a closing basis minus 250, not out of the woods by any stretch of the imagination. So what we're just seeing here right now, a relief rally, countertrend rally at this stage of the game. And it's especially a countertrend rally at this stage of the game with the spotball of Tilden X being above its 50-day exponential moving average. Currently, that's priced at $26.72. The spot fix is priced at $28.44. So well above that level. That's where price would need to, the spot fix would need to get below to say, okay, this might be something more than a countertrend rally or it's a deeper countertrend rally running up some other areas of resistance out there. So we're just going to take this one step at a time. Those were pieces of information, but there was something. So I ran into a number of different technical issues this morning. Not that you need to know that, but what a bummer when that happens out there. But when I got back and I got the system up and running or partially up and running, the thing that I noticed is future trading load, the very first thing that I noticed. And I know there's at least one other person in the den, which really means there's many other people in the den out there that also notice the same thing. Didn't you guys and gals out there? I know you noticed it. I know there's at least one person that noticed it. And what is that? Well, as the, and we're taking here, here's our, here's our charts for the ES, the NQ, the YM and the Russell 2000. What do you notice about today's action versus let's say the action from Monday, where we had lows. Actually in the Russell 2000, it was yesterday made a lower low. You see what was taking place out here is the ES mini, the YM, the Russell 2000, each made lower lows, but did the NQ and the answer is no, it did not. So as soon as I saw that, I said that is a, I don't know if you've ever played poker. Many of you have played poker. I don't know if any of you have ever gone to Vegas and played the games or maybe you're from Europe. I played in the casinos in London playing Texas hold them. Love that game out there. When you're always looking for, you're always watching the players and you're looking for tells. You know, oftentimes you don't play a lot of hands out there, typically. I mean, when it's your turn and the cards are rolling, you know, you play all the hands out there until the, until the rally stops, so to speak. But for the most part, you're not playing a lot of hands. So what do you do with that idle time? I always like to observe the players, how they're playing. You know, I don't know what the cards are that they're holding, but I try to, in the way that they're betting, try to imagine what those cards will be. And oftentimes, you know, the hand will play out and you'll get a chance to see that. So you're looking for little tells. Well, the market gave us a little tell yesterday, this morning. In fact, let me just show you, let me come back here. We'll come back to this chart here. But if we take a look, it's the exact opposite of the tell right now inside of the Dow. And what is that? Well, we had the E, we had the S&P and the NASDAQ take out prior highs. But the Dow was unable to do that. It's 20-20 high out there, 29-568-57. That should have all of us concerned. This is a monthly time frame chart, by the way, that I've got up on my screen, just easier for you to see. So that same tell that we see here in the Dow that moved markets lower, we also have that tell, so to speak, that is, it was another signal of this rally. Now it was just a signal. We need more information than just a signal out here. But here's what we know from a market profile standpoint. The NQ is above the bottom of its weekly. It's back inside its daily profile. So this 10, 726 level is a real key area to watch. If there's going to be more countertrend rally in the other indices out here, you need them to trade above, close above resistance. Well, the ESMini is the next one up. It's trading right now at 32, 58, 50. The bottom of its weekly profile is 32, 59, and a quarter. So it's got not that much further to go. But what I want you to focus on today is 32, 59, and a quarter. Look, if you're short, the reason to focus on that is I want you to anticipate and expect an additional rally out there. If it closes below that and you're short the S&P 500, well, then that bet is off out there. The Dow right now is trading above the bottom of its weekly profile, 26, 758, and the Russell 2000s. It's a whole other world on its own out there. Okay. So we've got this, and these are the levels to be watching. There was other information. When price was pushing down in pushing further inside the ES, the Dow, the Russell 2000, what we're always looking for are those roadmap indicator signals out there, because that creates that little slingshot, so to speak, that countertrend rally, the beginning of a rally, a new rally. And so if we take a look at, so you're looking for that pattern, the rogement indicator pattern to form, that would be the best one. Not that TD9 count is a bad one or Wave number seven out there is a bad one, but the rogement indicator signal, that's the beauty. Why is that the beauty? Folks, if you went back and you took a look at every major, every bear market decline, every major move lower, you're going to see that pattern present on the daily, the weekly, or the monthly, sometimes on all of those signals out here. So this morning, if we take a look at the NQ on its 30 minute time frame out here, you're going to see two bottom signals. You're going to see Wave number seven, that is letter G on my screen, and you're going to see a rogement indicator signal. Both were confirmed on that same candle as the cash market was opening. That came right here at 10 o'clock, and when it, I'm sorry, 9.30, when we had the nice little piercing candle, bullish reversal signal. Now price is up over all of its opening ranges out here, but I want you to be there. We should see at least one more push lower during the day. Maybe we see more than that, but one more push lower during the day. I don't believe that that's going to start until it won't start until between two and two 30 when I'm off the air. Now explain the reasons for that. We get back from this break. Steve Rhodes with TF&A. If you're not currently using the Taz profile scanner when looking at setting up your trading opportunities, then your arsenal is short a mighty weapon. The Taz profile scanner is a standalone piece of software that instantly filters over 2,500 global financial markets such as stocks, ETFs, commodity futures, and forex. Heated by Steve Dahl, Taz understands that in today's technological world, the use of top flight software applications and technical analysis expertise is essential to successful trading in today's market. You also gain access to the webinar that Steve Dahl and Tom O'Brien just hosted, the best way to use the Taz profile scanner to profit. 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From the price you should be paying per square foot in certain up-and-coming areas to the type of cash flow investment properties are capable of creating, Tiger Real Estate can help you make the best decision when it comes to all areas of the market. Before you make one of the biggest decisions of your financial future, call Tiger Real Estate LLC today at 727-329-8322 or email us at tiger at tfnn.com. That's 727-329-8322. Call us today. and greatly enrich your knowledge of these markets and how to make your money work for you. Details on the tires then are on the front page of tfnn.com. Check out the new tfnn.com now and experience all the upgrades tfnn.com educating investors. Call now toll-free at 1-877-927-6648 internationally at 727-873-7618. So we're taking a 30-minute time frame chart here for the NQ before we went to that break in and I indicated to you that we should anticipate some type of short-term top between 2 and 2.30. Now the reason is if we take a look at this 30-minute time frame the bar that we're currently on completes at 1.30. That's going to generate or should generate bar number eight of a TD9 count. Now assuming that a TD9 count forms I don't have a guarantee on that but if it does form out here that would form between 2 and 2.30 out here and it looks like price might be below its last breakdown level to 11.053 and that's and we can also see that Stevie's oscillator and change line has changed from red to green. So it's the combination of those things that say we should anticipate another push lower. Now what should happen out here is price should push back to test Stevie's green red line out there. If it's a test in rejection that's a bullish test and that would then say okay we had higher from whatever point in time that that test takes place. Maybe it doesn't happen during the cash market year. It doesn't happen till six, seven o'clock and I don't really know out there but that's what you would be anticipating. That's what you would be looking for. So let's go out to Brent in Martini's California. Brent thanks for calling. Thanks for holding. How are you doing this morning? I'm doing quite well, Steve. How about yourself? Also doing well. Thanks for asking and I believe it's the Dow futures that you wanted to take a look at out here. So tell me what you're looking at and how I can help you. My specific question would be about that and then the ES and I'm not sure it's necessarily present in the NASDAQ and the small caps but from the top and then kind of watching it all just throughout just kind of some basic numbers are not exact numbers but on the Dow it was essentially from went from the 29,000 top down to about 27,000 had a retracement of about 50% up to say 28,000 and it looked like something around 26,000 would complete the AB equals CD. So I'm just wondering if that had completed the day and if it actually made it that far on those two and it looks like we have potentially a bullish reversal camel so that was my question about those two. Sure. Okay so let's take a look at it Brent. Okay if we stick with the equity futures contract on this? Yes. Okay perfect. So the actual A to B equals CD out here let's just draw that pattern in so we can see where price is trading into. So the one to one price projection, it's just a projection folks, price doesn't necessarily have to get all the way down there and we just have to make that judgment is it close enough. So the one to one would be 26,256. The actual low of today in the Dow equity futures contract has been 26,407. So you know it's a couple hundred it's a 150 points give or take away. I don't know but what I do know is right now it's actually not a bullish reversal candle just yet. Maybe at day's end it is and then it would be a piercing candle perhaps maybe it's well I don't know how the day's candle will look but right now as we speak at 121 not a bullish reversal signal. So without it being a bullish reversal candle I would be hard pressed to call this a Gertley buy pattern. Could be could give us that signal by the end of the trading session but not just yet out here still just counter trend rally at the moment based upon some of the other things that we looked at. Now if in fact the Dow is still able to close the Dow equity future contract is closing above 26,758 today and the other equity futures contracts the Russell 2000 that was standing out there if the ES mini gets back inside its range out here that would be suggesting to us Brent that we should expect more rally now more rally to wear in the Dow equity future contract the top the bottom of its profile or center of its profile that's quite a ways away as at 27464 and 27662. Those would be game out there and then there's the other level which is Stevie's green line which is at 27633 right now so if your question is do I see this as a Gertley buy pattern I don't see that just yet. If we did get a bullish reversal candle then it becomes a judgment call we have to really start looking at some other you know what other things are going on out here what's going on with the advanced client oscillator what's going on with the VIX anything else so we might see that would help us. So that's what I see when I take a look at that daily chart for the for the Dow. What questions does that pose for you based on that? I guess there's some potential there I mean today I guess it's bar number five so it might be another you know whatever three four days till we actually get what I'm talking about but it just looks like there might be some potential there for that to form is was really my question. Sure so let's take a look at some of those potential levels for folks to be watching out here yourself included if there's going to be a change in trend so if it's a bottom if it's a Gertley buy pattern then one thing that I know is that we will begin to see resistance levels fail in the shorter term time frame charts this here is a view of the 30 minute time frame chart for the Dow and where this is headed towards is its breakdown area and that's at 27 118 now this is going to be bar number seven of a TD nine count so that says we've got an hour and a half perhaps that that could take us till 130 that could take us to three o'clock before we get that type of a topping signal and a potential pullback but my point here Brent is if we begin seeing closes above these short term resistance levels 27 118 27382 now I know that that's after the fact I can't do anything about where resistance resides other than know where it resides and know that if price closes over it then that's a signal that hey maybe this is more than a counter trend rally or maybe it's a counter trend rally taking us to some higher levels out there so the Dow equity future contract still hasn't taken out its first level of resistance which is that 30 minute level of 27 118 that's what I would also be watching okay now I really appreciate you just going through it with me and just to look at some of the different numbers as far as support and resistance and as always it's very helpful and and I appreciate it very much so it's having a great day and great weekend I'm sure hopefully we'll talk again soon that sounds great thanks so much for calling that was Brent in Martinez California we had some requests to take a look at some other instruments so why don't we do that right now let's move into that one of those instruments was ticker symbol ROCK and that is Gibraltar industries right now as we take a look at it and view how it's trading in relationship to its market profiles we know it's bearish from a daily standpoint meaning prices below support bullish from the weekly and bullish from the monthly so we've got multiple different signals out there a couple different signals we can see a big breakout forget about the TD9 count not to forget about it but you can see big wide-ranging bar accelerated volume on August 5th so price is pulling back into a into a accelerated volume of breakout area but let's try to let me get over to my other charts out here that would be helpful and let's just see what else we can find out with ROCK out here so looking for signals because the this individual subscriber wants to take a long position in this and I believe that that Ian was also looking at more of an intermediate term timeframe weeks several weeks months and so forth so if we were looking to try to find some type of a bottom just as Brent is you know asking the question hey is there an a to b equal cd to the downside so the a to b equals cd patterns are somewhat subjective out here let's draw one in on this black background chart because you could draw on a couple of them I'll show you the different ones but we know where the a point starts the a point is going to be out here on August 17th this is sometimes the frustrating thing for for folks about the a to b equals cd but you have to realize as the market gives you more information sometimes you have to redraw your patterns there's nothing wrong with that now the most conservative a to b equal cd pattern will look like this the b point out here on august 21st come on populate and the c point out here on august 24th and then yeah we've got a confirmed Gertley by pattern but is that the a to b equal cd pattern that's in play steve roach with tf and then we'll continue looking at the ROCK we get back from the spring back in the day I joined the hotel california in 2006 and like many of you was drawn in by as well as whatever you think about you bring about whatever you focus on grows you see I believe that everything in 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think or swim banner on the front page of tfn.com welcome back folks so uh just uh we're gonna go back and take a look at the chart of uh of um rock out here uh but Brent uh one of our deniers john and the tiger's den uh notified me that the actual dow cash indices out here has generated the one to one a to b equal cd so we'll come back later take a look at the current candle formation currently looks like a piercing candle so that would be your bullish uh reversal candle to confirm a uh garterly by pattern inside the dow of course it's all dependent upon what the candle looks like at the day's end so john thanks for uh doing that uh for us out there so let's go back and take a look at the rock out here and try this is Ian so i was showing you an a to b equal cd to the downside there's another one that we can draw in uh here you can see this in essence uh the one to 1.618 a to b equal cd you've got a nice bullish reversal candle today you had a hammer candle on september 21st but it was also a gap to the downside so both a bearish signal the gap to the downside is a bearish signal the bullish signal with the hammer candle i always like to fill in the uh gapped area to say what kind of candle is that that would not qualify as a hammer candle and therefore you know i don't want to necessarily use that as a as a real total frame of reference another a to b equal cd that could be forming out here it hasn't yet uh because the b point has been taken out but this could be in play out here ian and that's the same a point is what we're going to start out here that's on august 17th the b point is going to be the low of september 8th and the c point is going to be the one on september 18th and that's really now because of new information so the first one i drew in for you was based upon the information that was being generated after the august 17th high but then okay what i would do is you should keep that one drawn in there but you have to recognize there's another one that looks to be forming this one looks to be the one that is more likely the outcome uh the c point or the b point out here was a day of september 8th which had 157 uh thousand shares and when that was tested back on that hammer gap down candle that was 291 thousand shares so price is pushing uh into that swing point with uh with some volume out there and this a to b equal cd ian at either 53 89 56 34 in that area well um that would be a nice cartley buy and that would be coming back to that breakout level and it'd be right in the range of 55 35 where you've got the top of the weekly profile now like i can't control price and say where price is going to go out here so that pattern may not happen let's put up my other charts but but that one to just really cover the a to b equal cd pattern out there and as you get more information be willing to draw additional patterns out there uh you can see the breakout area inside of rock is at 51 92 out here this has a td nine count top and so that is um so it's got a valid top out here price below steve's green line which is 64 18 that's where any countertrend rally would make its way up to it then typically reject and move back if price closed above that well then that changes the chart to a bullish uh type of configuration okay so we don't have anything really clear here on the daily do we so are we going to help out ian versus confusion well let's look at the weekly chart we have any information here voila we do what's that information i don't have a valid topping pattern i could draw an a to b equal cd pattern i can't on this version of my software but you can see that in here but no bearish reversal candle to complete the pattern when that occurs out here i it's sketchy with regard to calling this a completed sell the d point what we do know is price pulled back and price on a weekly basis ian is pulled back to support and that support is 60 93 so the weekly chart is still bullish out here the daily you should expect at least move up to 64 17 out here um you know take a shot at it if you want the if you want to wait even longer see how the market plays out and everything 51 92 would be your entry into the rock the other one that you want to take a look at i'll do this a little bit quicker out here is a sale s a i l here we can see wave number seven that's letter g we can see price trading below steve's green line on the daily time frame out here again another real nice gap to the upside you can see the bulls are defending this territory you had a hammer candle a couple of days ago one on monday one on tuesday so we know that bulls are out here trying to trying to shore up the bottom but the better buy for you ian would be a price we get down to 3504 that is the breakout level it's a breakout buy it's not a pattern that i see that's completed if price gets down to that level let's just look at the weekly time frame chart the weekly chart here again very bullish um it's it's bullish i don't have a valid topping uh pattern out here so um yeah you can you can fire away but your better entry point is 3504 and that's one that i'd suggest that you wait for so i hope that helps you out both with sale and with rock thanks so much for writing in uh we've got a request to the tiger's den from john who wants to take a look at i wb so let's go take a look at i wb that is the russell 1000 out here uh so we'll punch that up on our screen just take a look at profiles price below the bottom of its daily profile 18257 if you're long or looking to get long you'd like to see price close above that on a weekly basis prices pulled back it has tested and rejected thus far the bottom of its daily a weekly profile 17999 and it is pulled back to test the top of its monthly profile overall with the exception of the daily chart out here john this looks bullish you got price pulling back to support on the weekly price pulling back to support on the monthly in itself looks pretty bullish can we find some type of bullish pattern on i wb i don't know if we take a look at its a to b equal cd pattern here just for blanks and giggles the uh september second high is going to be your a point your b point out here is going to be september 11 and your c point is going to be the retracement up into september 16 the one to one gets us down to 175 63 you can see we're not anywhere near that so i wouldn't say that this is completed a a to b equal cd pattern at all doesn't mean that hasn't given us some type of short-term bottom out there because of the support levels that have held on the weekly and on the daily now we turn on the other daily chart out here gives us additional information we can see how price broke through one level of support breakout support td9 support 18659 typically when you break below one level you go to the next that's why we go ahead and have those turned on on my screens out here well guess what where the next level was 17828 not just curious i don't know what today's low is we're going to find out here i think we're going to find out well apparently not with this chart let's see what was today's low so just curious 17829 17829 versus 17828 you got folks there's no human possible way somebody would have chosen that candle as the breakout level there is no way somebody would i don't care what skill level you are at you would have not have chosen that candle where you've got 17828 as the breakout this is you know i i know i feel like i'm paul revere stevie revere i used to play golf a lot of golf with steve revere out there by the way but it was a different steve revere but i run in through you know just just imploring you asking you begging you i don't really bag out here learn this pattern learn the pattern to help you identify potential tops and bottoms but really learn it to understand where breakout and breakdown levels are so john if you're looking to take a long trade here well if you get your backup against the wall and you'll know that if we see a close below 17828 then you're probably wrong and in that case there because of the a to b equals cd pattern price probably headed towards that 16896 area so that's what we see when take a look at the daily chart if we look at the weekly timeframe chart here well the weekly's got a different picture for us what's that picture a valentine nine top and prices below stevie's green line out here price doesn't close above 185 53 this week it's really consolidated between that and 179 99 on a weekly basis the ideal buy would be about 173 0 3 but right now this is suggesting yeah countertrend rally underway price moves up to about 185 88 the top of its uh oh could be a plus we'll finish that off we get back from this great many of our new listeners have heard about the tiger's dead the tiger's dead is a lively community where professional traders and investors can meet exchange ideas and information in a comfortable moderated atmosphere here all of the tfnn shows plus see all the charts as 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prospectus or summary prospectus please contact direction shares at 8664767523 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 for the latest market information i w b i wanted to make sure i gave you the resistance levels out here so you're still below your resistance level still right above you the bottom of that daily profile so you got 18257 18588 and 1928 on any continued move higher you've also got stevie's green line of course this number is going to change slightly but right now so these are going to be your four levels of resistance 18729 so best of luck on that if you take a long trade in i w b let's go out here see what other questions that we have that have come in john writes in and says so what's the most likely direction of gld tomorrow okay so not to not to put any pressure on stevie or anything but tomorrow of all time frames um yeah i can't do that during there's another chart that i would like to do i'm not gonna have the uh i'd have to do it during the break i don't want to waste waste everybody's time in doing that so let's go to game plan b so really what we want to do here john is that would be paying attention to the gold contract so let's do that let me to try to answer your question and uh and of course duffy wants to know hey what's it going to do today oh boy you get pressure pressure out there i love it so let's go take a look at what it's doing which is what we'll all work through this at the same uh time same speed out here so we take a look at gold we look at its 30 minute time frame we know that it's six o'clock this morning price made the roads meant the indicator bottom right we've seen at the top we've seen at the bottom we know how powerful it is right now gold has formed a valid td nine count top john so we would expect well one of three different outcomes out here so if this is going to form some type of high short term high it should be the high during this session between 130 and 2 as long as that high does not get closed above we should see some type of retracement the retrace will be stevie's green line currently printing the 1868 the top of the profile for the 30 minute basis 1870 50 so we should anticipate and expect a price to pull back there john duffy if price pulls back and test that level rejects it and then moves higher duffy because i know you can see the chart where is price headed to where would be the next target now we'll put you on the spot like you put me on the spot but that's okay 1894 40 would be that number so it really depends you're asking me for the rest of the day well we can see that gold making that td nine count top out here if that in fact we could we should at least see a stalling of price maybe it's sideways maybe it's pullback and test that hey it could be to pull back and blast through the oscillator and change line which if it does then john would say gold might be headed lower not higher the gld but if instead we get that pullback we test dv's green line that forms an a to b equals cd to the upside 1894 40 would be where price would be targeted now you're at 1880 and you might say that $14 isn't worth a whole lot well it depends if you trade in the futures contract or not out there but your resistance level would be 1894 john if price can close above 1894 we're only looking at a 30 minute time frame the next level would be 1909 so if price when price breaks above closes above resistance the next level of resistance should come into play out there so i can give you the numbers and then you're just going to have to watch price behavior at these little support areas support resistance levels to then answer that question both for you duffy and for john in sarasota so the numbers you're going to want to watch 1894 40 1909 20 those any price any closes above those levels higher price what should you expect over the course of next hour hour and a half or so you may see a stalling or a pullback to test that the support level out there and until we get the results of that test john and a duffy i can't really answer any other questions not because i can't but because actually because i can't because i don't have the info i wish i had the info but that will give us the info right now if we take a look at the daily time frame charge here for gold it looks horrible it looks horrible everywhere it looks horrible in terms of how it's trading in relationship to all the other currencies out here so it's in lockstep moving lower it's taken out the swing point so to speak of an a to b equal cd pattern out here if we take a look at where's gold likely headed to likely headed to 1831 10 1790 80 just in the short term out here no bullish reversal can't do anything along those lines bar number five of a td9 count pattern so gold really looks like yeah you know maybe not so much not just yet let it go ahead and get back to a breakout level 1790 1831 see what patterns are going on down there if you did trade gold or gld in this instance let's say it gives you the signals to move higher where's the real resistance on the daily time frame well that would be a 1934 1935 right around there steve's green land that would be a real key level to be watching and to observe so duff and john i hope that helps out with regard to a gold out there to answer those types of questions i think we just really stay honed in on the short term time frame charts and continue to look for signals out there keith writes in keith writes and he says oh no questions uh okay uh so i want to say thanks really enjoy your show your thoroughness and patience and answering questions well keith you're very very welcome and i thank you for just taking the time to send that message you know with everything that goes on i i i it means a lot uh when you send messages like that and you've actually taken time out of your personal day to send something like that so thank you very much for doing that thanks for supporting all of us here at tfnn very much appreciated i think we do have some other question let's see uh no ian we've got that john writes in and uh oh he's got another question totally cool with me and uh is it time to plug is if oh if time plug up or down so let's go take a look at the plug out here plug is obviously the ticker symbol and see where it's trading in relationship to those daily weekly monthly profiles out here so it's pulled back and it's tested support john 11 29 the bottom of its bare structured daily profile so you're saying up or down is long and volume today is a 22 million shares last time was price was down necessary about 34 million shares so it looks like prices coming back on slightly lighter volume out here up or down tomorrow look prices held support of its daily profile so we're going to go with the up for tomorrow not down if price closed below 11 29 john that's going to change the answer and that would say then it would be headed down now just out of curiosity out here more than just curiosity plug we have to see if plug is trading into anything else we've we don't want to not take advantage of all the tools that we have out here but the market profile too is very helpful here as we take a look at plug on a daily time frame uh no bottoming signal but the price is also pulled back into a little hammerish candle from back on september 4th so that would say okay we could justify since you've already you already know out here buyers have been trying to protect this area that it's trading into so yeah i'd have to say the daily time frame charge you can justify up at this stage of the game the weekly not helping us out a whole lot here because prices trading below 11 81 that's really a key number for you john and answering that question if you see a close above 11 81 today well then that answer because it increases the probability doesn't guarantee increases the probability that tomorrow would be an update up day for plug so i hope that that helps you out and uh and thanks again for writing in uh craig writes in oh you know what uh we were in gold we only have a few minutes left out here and i promised robert who was interested in possibly going short the gold miners out there so like the gdx what was happening there so we're going to go take a look at the gdx i'll get all my charts set up here before we go to this or while we are at break right now we know the gdx trading below the bottom of staley profile which is 40 06 trading below the center of its barestructured weekly profile 41 44 that opens the door for 32 77 but we'll take a look at our other charts and figure out where would be a good countertrend rally move for robert to sell the miners steve rode with tf and n will be right with markets trading with extreme volatility and peaks and troughs everywhere regardless of what you're looking at in the markets this is a great time to see the type of analysis basal chatman delivers for his subscribers every market day with the opening call newsletter basal has been analyzing markets providing his take for subscribers to his trading services since 1984 every morning basal publishes an update for his subscribers along with weekend and evening updates when warranted the opening call provides traders a daily market overview with regard to the direction of the key indices selective stocks and commodities along with specific recommendations including stops and targets you also gain instant access to basal subscriber webinar archive from earlier this year a dark cloud cover an essential market analysis ride the chatman wave today by signing up for 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morning primal edge formulated and approved by nico 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 tf and n.com don't forget you can listen to tf and n live on your mobile device 24 hours per day go to tf and n.com then hit watch tiger tv that's tf and n.com then hit watch tiger tv for the latest market information folks so as promised we've got the gdx up on my screen out here we're going to see that this is completed a one-to-one a to b equal cd robert you'd start with the high of august fifth as your a point your b point is down here on august 11th makes about a point seven eight six retracement to august 18th that gives us a price projection of 37 20 yesterday's low was a 37 35 today's low 37 08 you've got a bullish reversal candle right now this is the piercing candle put stevie's other charts out here so you've got a confirmed gertley by pattern so where is the next level of resistance on this chart here i don't have my task market profiles but you can see it is stevie's green line and that's it right now printed 40 87 robert that line is going to change as price moves up or down but around that 40 87 area is where you would look at you'd be looking at the patterns we'd see what's also going on and go but that's where you would look at as one potential area to put on a short for the mining equities you also see you've got that level 40 87 40 06 is the bottom of the profile a price can get above that then 41 21 is the next area and 42 36 so the answer to your question is somewhere between 40 06 and 42 36 with 40 87 as we speak right now being the likely candidate for where that would head so let's see if i can get to craig's question out here craig writes in he says that can we take a look at a um so let's just do this on my white background chart see if we can get the a u y what i do oh good it was a u y yamana gold out here you're in at five bucks so here's what you don't like here's what you do like okay price has gotten back above so yesterday was a test of its breakout level 544 remember stevie's two-day rule out there well we don't have a two-day uh two bars below 544 your back above it and also the oscillator and change line has changed from green to red what you should see over the coming sessions i don't know how many sessions they test of that line so that's right now pretty to 598 a test and rejection says price heads lower a test in a close above it says price heads higher what should price do for the next couple days in a u y should continue to head higher as long as you get that close above 544 today folks thanks so much for being here stay tuned for two more great hours and i'll see you on fantastic fabulous friday have a terrific thursday