 The following is a presentation of TFNN The Trader's Edge with Steve Rhodes Free at 1-877-927-6648 or internationally at 727-873-7618 The Trader's Edge Now Steve Rhodes Good morning folks. This is Steve Rhodes coming to you live at 8.06 in the morning. So if you're listening in at the normal show hour, I'll take care of the first 30 minutes. So between now and 8.30, then Tommy Jr. He'll go ahead and pick it up from 8.30 to 9 or really 1.30 to 2. I know you'll enjoy that segment as well. So let's go ahead and get started in these markets out here. We don't have a lot of time together so we'll try to make this as pertinent for the afternoon show as well as those that happen to be listening in live. So right now as we take a look at the markets, I'll just really take you through the process that I go through each morning to help me understand what the markets are communicating to us at this stage here. We're looking at the U.S. equity futures there at the top portion of the screen so we can see the Dow. Futures are up 98 points, about 4.10 for Nasdaq is up 10 points now. That had been trading lower about 10 minutes ago, I believe. It's up 10 points, trading at 11.133. There's a new profile we'll take a look at for the NQ that is attempting to form out there. That way we've got some real clear resistance level. The S&P is up 3. The Russell is up 6 points. And then what I like to do is take a look at what's going on overseas. So looking at the core markets over here, so we've got the Shanghai was up 26 points last night. Hengseng was down 154. The Nikkei was off 88. The S&P 200 in Australia was up nearly 2%, 105 points out there. And right now the DAX up 19. The FTSE is up 14. So I like to really understand, hey, what's going on overseas? Now the reason why I like to take a look at what's going on overseas, well, here's the first reason. Here's the primary reason. If we take a look at global markets. So now you can do this on your screens at home as well. So in this case here, we're taking a look at the ETF structures for nine core markets. For the US, I'm using the Dow. And that's by the diamonds in the upper left-hand corner. The next to that we've got the UK. The next to that we've got Australia. Again, these are the ETFs. And down below we've got Canada, China, and India. And then below that we've got Germany, Japan, and then just simply emerging markets overall. Now if you take a look at those red diagonal lines, you're going to see that globally, generally speaking, markets have been in a downtrend. In some cases going back, what's the 2011? If you take a look at Canada, here's Canada. I'm not even going all the way back to its highs back in 2007. But yeah, that's the Canadian index out here. So you can see all these now. The indices or the, yeah, the indices in essence that are not trading in those descending trend lines. And you also see I've got notated out here the 2019 high. No market is ever considered to be breaking out unless it's trading above the prior year high out here. So you can see there's very few of them. Those that are would be China. That's trading above it. And Germany just slightly. That's it. The Dow diamonds are not Nasdaq. Each market is totally separate here. But it's important to understand, hey, what's going on across the globe? Well, in addition to that, we can take a look at the five core charts out here. Here's the Nikkei. Inside the Nikkei for Japan, you'll see that this has a sell the D point to 1 to 1.272 A to B equal CD. So at the present time, this has a topping pattern and signal that's in place out here. We take a look at the Hang Seng. The Hang Seng topped with a Gertle sell pattern several weeks ago. Price trade below Stevie's green line. Inside the Hang Seng, price is targeting support. Support is $22,779. Again, it's just important to really understand what's going on around the world because we are all connected. If we take a look at the Shanghai here, this topped with the TD9 count. In last evening's trading price got up, tested a rejected Stevie's green line at $33.59. So this is still in total retracement mode out here if we take a look at what's going on inside the FTSE. So the FTSE's pattern is very interesting. This formed a TD9 count bottom last week, about five trading sessions ago. But you'll also see that Stevie's green line has turned red. Now, I'm not referring to the horizontal lines, I'm referring to the squiggly line. That's the oscillator on change line out here. Now, when it changes colors, what we usually see over a period of sessions, I never know how many sessions, we see price and it catch up to each other. When price on a red line, when price catches up to it and then deflects lower, it's really a bearish, it's giving us a bearish indication out here. Very bearish because what it's indicating to you and I is that there is a falling price oscillator below zero. Price oscillator being the difference that I'm using between the 19 to 39 day exponential moving average. However, not so fast just yet because what we also need to see is price close below that solid horizontal red line. $59.9328 is the breakout level for the FTSE. So if we do see it close, well, the real key now is if the FTSE closes below, oops, I'm going to do that, I'm going to do this, closes below the session, the lows from August 4th, August 4th, the low by the way there is $58.5706. If it does that, close below $58.5706. Then that's going to signal that the FTSE is ready to get back to the March lows out there. So the FTSE may be the entity that gives us the early signal that that's what's in play. If we take a look at the German DAX out here, you're going to see erosment and indicator topping pattern out here. Again, it's key level of support is $12.535. Resistance for the DAX is at the $12.832. Okay, so what we know here, and this is really important to get our heads wrapped around what's going on around the globe. We can now see what is exactly going on around the globe. Okay, good, we got that out of the way, but it's an important thing. Now let's take a look at what's going on inside the U.S. markets out here. Well, as I had mentioned, the NQ is in the process of attempting, attempting is the key word here to form a new profile. Attempting because I'm using Stevie's advanced Doppler tool. So we won't know until this evening about 6.01 to be exact whether or not. Well, maybe I might know earlier, but at this stage here, I really won't know I have a confirmation on this profile until today's trading has taken place. However, what we do know and this is cool. So this gives you an advantage that others don't have right now. And the advantage is we understand with inside the and it's only the NQ. If you take a look at the ES many, that's in the very left hand side. The Russell, that's the very right hand side. The next to the Russell to the left is the Dow. The only one with a new potential daily profile is the NQ. Now, what that profile is telling us is where buyers and sellers have taken their steaks in the sand, so to speak, steaks in the sand. Steak and lobster, it's not steaks in the sand. But the steak, the line in the sand out here would be at 11205. That is resistance inside the NQ. If price is trading above that, you then at least know that the NQ is powered through where the sellers had set themselves up for the day. Support would be 10971. Now, we were taking a look at the international indices out here and we were looking at the TD9 breakout level inside the FTSE. Well, we would get a change in trend signal if we see the NQ close below 10971 and 10971 stands as its DAS market profile. And so for some of you out there, you won't know that until tomorrow at around one o'clock in the afternoon when I do the live show out there. Newsletter subscribers will know otherwise. So that's an important piece out here. If you take a look at the message coming from the ES, the Dow and the Russell 2000, first price is trading above Friday's highs. That is bullish, period. There are no new market profiles out here. And so they suggest that they want to move to higher price. We come back from this breakout here. We're going to go look at Stevie's opening range charts. We're going to get the intraday signals. What we've looked at so far today have just been daily signals. So let me give you the early signals of what the markets are communicating to you and I for the equity futures. Steve Rhodes coming to you live at 814 in the morning. We'll be right back. 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Details on the Tiger's Den are on the front page of TFNN.com. You can even have new pricing in six months and yearly options. Check out the new TFNN.com now and experience all the upgrades. TFNN.com educating investors. Call now toll free at 1-877-927-6648 internationally at 727-873-7618. Welcome back folks. Let's take a look at the 30 minute E.S. Mini chart out here. It's 8.18 in the morning for those of you listening at 1.18. Thanks so much for doing so. We'll be back to regular programming tomorrow. But here's what we know as of 8.18 in the morning. This is the E.S. Mini. You can see that this has formed a really two topping signals out here. You've got wave number seven. That's letter G. You can see that the topping screen and this generated rogment and indicator top out here. That's what took place that took place by the way at about it won't be about I'll tell you exactly when that was at 2.30 this morning. We've got the confirmation of both of those patterns. Now in this case here price is not pushed its way all the way back to support. The real support level would be 3340 and 3340 is the breakout area for its TD nine count pattern out here. So that is in play. You'll see other horizontal lines out here. You'll see blue black and red. This is representing the opening range the 30 minute opening range levels for the E.S. Mini. When the U.S. opens that was Sunday evening between 6 and 6 30 then we had the Asian open cash open and then the European open. And so always mark those. Now what's really cool is that these levels here giving you another secret. So don't don't tell anybody about this. OK. Just please keep this just to yourself. All right. The little secret here. You'll give you an edge. If you're not interested in an edge and then don't listen to what I'm about to share with you. But if you take a look at these opening range levels if you do the same thing what they do is they help us to understand where other levels of support or resistance are or is today a breakout to the upside or the downside. One thing I can guarantee you there's going to be a breakout to the upside price has a trade above all opening range levels or those three that we looked at that would be thirty three fifty four fifty that is the European opening range. Likewise support is the U.S. opening range. That was last evening and that took us down to thirty three thirty five. So price right now is just consolidating. We've got a topping signal but no support has been taken out. No resistance has been taken out. It's just really consolidating. So then I go take a look at the market breath. What's the market breath for the E.S. Mini. Now here's the thirty minute market breath. Market breath by the way folks what I'm referring to is when I take a look at this market breath indicator. This is our task market profiles for the thirty minute timeframe for each of the instruments inside the S. and P. five hundred. And this tells us at this stage as of eight twenty the morning how many instruments are trading above the top of the profile that would be breaking out above resistance. Two hundred ninety three versus trading below the bottom of the profile that would be sixty so this is very market breath positive. So at this stage here at eight twenty the morning I would not be anticipating that price going to make its way down to thirty three forty even though we've got that valid topping signal. Market breath is just simply too positive. Now I don't know whether price will be able to take out resistance out here. But as we speak at eight twenty one in the morning be very difficult even with that short term topping pattern to have a real significant short bias out here. Nothing has been broken. Here's the larger time frame. Well let me get to the actual larger time frame for the S. and P. five hundred is your weekly daily. You're looking in the upper right hand corner. Those again are those are market breath dials. A bit lessons tells the same piece of information. But everything is in the bullish setting out here. They're in the green setting so that is strong and long for each of those time frame. But really just support say we've got a little topping signal took place. Last evening as Europe was beginning it's in Europe's cash market was beginning its trading out here but has not broken the back of of anything inside the ES many OK let's not stop there. Let's go take a look at the other three because each one is giving us a different signal. Remember how we just took a look at a topping pattern inside of the ES if we go take a look at the end queue as an example out here. Now we didn't get a bottoming signal or anything we don't have any kind of bottoming signal it took place but what we do have are the opening range levels out here. And as we take a look at them you want to write this down on a pad of paper if prices trading above eleven one fifty six fifty it's indicating that price wants to make its way up to eleven two sixty four. How the heck can you say that Stevo. Well I just did. The reason that I would say that is eleven one fifty six fifty is the top of the European opening range. If price get above that then price will want to try to make its way up to its breakdown level where to price last breakdown at well that was an eleven two sixty four. It's a little green dash line that you see across my screen out here likewise if price trades below eleven oh seventy three well then that says hey we're going to go try to take out the lows from Friday out there but let's go do the same exact thing let's take a look at the thirty minute time frame I can only do this for the ES and the end queue out here the S&P five hundred the NDX one hundred out here. Let's put our short term our thirty minute time frame what you're going to see out here. Is that this too is in bullish mode what I mean about that there's forty four instruments trading above the top of their thirty minute profile for the end. One hundred and eighteen below the bottom so this has a bias bullish that's using the thirty minute time frame if we take a look at the other four time frames out here let's pull these up on our screen here's what we're going to see for the end we're going to see that they too many weekly daily the two forty and the sixty minute are all set to bullish mode out here with regard to its market price so for the end queue. The levels you're going to watch today is eleven one fifty six fifty it's going to be more pertinent about an hour from now as the cash market opens and eleven oh seventy three for support out there and then you'll know that the end queue will want to make that run to eleven two sixty four if it can take out that resistance level here's the deal. Right now at eight twenty three in the morning all the signals are pointing to that's what wants to take place but there are those topping signals that we looked at inside the yes many so you're going to want to watch that resistance area as well if we take a look at the Dow equity future contract out here. All I've got is a wave number seven. Topping a signal out here prices trading with inside its opening range resistance twenty seven four seventy one you'll watch that that's the top of the European opening range. Support well lessons there's two levels that I would give you the opening range for the U. S. market twenty seven two sixty and then twenty seven two ninety three just above that that is the TD nine count breakout levels as there's close below twenty seven two sixty inside the Y. M. The price is going to go target twenty seven one twenty five isn't nice we can be precise we know exactly where buyers and sellers were support resistances because this is just simply a numbers game. That's really all it is we're going to boil this down to numbers not emotional not not nothing that's emotional out here not I think this or I think that is where our buyers and sellers where a support resistance if you open up a chart I don't care what chart it is and you can't find support or resistance. Then go sign up for mastering probability and do it now don't do it tomorrow don't do it ten minutes from now do it now because I will teach you I will show you tools that you can use they are objective. These numbers that I'm sharing with you there's nothing subjective to them they just use a standard set of rules nothing is so they're so helpful take a look at the Russell two thousand out here take a look at the Russell two thousand this also like the E. S. Top with roads with the indicator tool if you don't know what that is you I will teach you that very specifically out here very cool tool out here support inside the Russell two thousand is in between fifteen sixty one fifty. And fifteen sixty two seventy so you know the game plan the Russell close below that to close below that on thirty minute time frame fifteen thirty five forty will be the number resistance out here today fifteen seventy five eighty. Price can get above that well it wants to run higher so that's what's going on on the thirty minute time frame for the equity future contracts out here back to the daily real quickly here before we get to a break today should be bar number nine of a T. Nine count tops conform on bars eight nine of the bar following nine so we could see a top inside the markets at least a short term top could be longer than that over the course of the next couple of days out here price also moving higher less relative energy that is never good for an instrument if we take a look at the N. Q. the N. Q. you know may form bar number nine today. Friday's candle session was bar number eight so that would qualify as the high out there so you're going to want to watch that support level again inside the N. Q. ten nine seventy one oh five close below that says a change in trend would be in place folks have a terrific Monday and I look forward to seeing a terrific Tuesday take care folks.