 The following is a presentation of TFNN. The Trader's Edge with Steve Rhodes. All now, toll free at 1-877-927-6648 or internationally at 727-873-7618. The Trader's Edge. Now, Steve Rhodes. Good afternoon from TFNN. Welcome to the October 2nd, the wonderful Wednesday 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. Hey, let's have an extraordinary one. The easy way to do that is to always remember that life is happening for us, not to us. That's right. We need to make that one little two-by-four shift. It means we can find the gift in every set of circumstance that life is going to toss at us. Now, today, you and I, we're going to go check on the circumstance of these markets. We're going to go figure out what the bulls and the bears, what those buyers and sellers are communicating to you and I just passed one o'clock in the afternoon. I want you to know that I'm absolutely grateful for your presence here, but much more important than that. During this next 60 minutes, I'm here to serve you. So feel free to pick up that phone. You can dial in 877-927-6648. If you can't dial in, send me an email, Steve, at tfnn.com. Send it early. We already have about seven, eight questions by email out there. I want to be able to get to each of them. Put the radio show question to subject heading, if you will, and then inside the Tiger's Den. Well, any ping will do. So let's go ahead and get this show started on wonderful Wednesday. Of course, this is Tiger, Financial News Network. I'm Steve Rhodes. Welcome to LUS Show. Right now we've got the Dow off 545 points. That's off 2% to the downside in the Dow, the S&P, the NDX100, the Semis, the New York Stock Exchange. Trends are up 2.6% percent. You've got the Spot Volatility Index, a second day in a row right now up above the 10% level. It's up 12.88% trading out at $20.95, $2.39 cents to the upside. Now, the key here, you don't see it on this chart, but you'll see it as we turn to some charts out there. Peter wants to take a look at the VIX. Maybe what Peter knows, the Spot Volatility Index is trading above all of its forward futures contracts. I think that takes us out to June of 2020 out there. And you know what that means. Well, if you don't know what that means, stay tuned because we're going to go show you what that means to the markets. You've got gold up 18 bucks, silver up 37 pennies, we crude off a buck 16, trading out $52 in change. Let's skip the who's leading to the upside and to the downside with so many questions in. Let's go right to these markets out here. So I'm going to go through the markets and we'll probably get that done during the first segment or two out here and then go to the questions. Some of the questions may be answered during this process here, but the question's in essence, what are the markets doing as we speak right now? 109 in the afternoon. Now for that, I'm simply going to use our futures contracts out there. I like vehicles that trade nearly round the clock out there. I am not that fond of those vehicles to make our trading decisions that are only trading for six and a half hours a day. You know what I mean out there, Jellybean? I think you do. If you take a look at the four quadrants out here, the ES, the NQ, the Dow, YM, and the Russell 2000, what you're going to see out here is you're going to see some one horizontal red line for each of these. One horizontal red line. One ping, Vasili. And what we're looking at inside the ES, many is 28, 75, 25 out there. What does the red line represent? Jay, that represents the breakout area. That is the breakout area based upon utilizing that TD set up a nine count pattern out there. I have found this to be a much more versatile, provides you and I with much better information about where prices are headed to, where support and where it's resistance than actually using swing points out here. I'm not against using swing points, but it's not the be all to end all. Neither is this, but this really provides us with understanding where a breakout or a breakdown move to. In a normal marketplace, price will pull back to where it broke out. You and I have been taught this by Obi-Wan Kenobi. Well, for me for the last, I don't remember, 11, 12 years, whatever it's been, 2006, when I first was introduced to Tom out there. That first introduction was by a handshake out there. And so, you know, Tom likes to say, hey, don't buy the breakout, wait for price to pull back to the breakout. Well, right now if there's still a bull out there inside the ES mini, price has tested. So far rejected that level, 28, 75 in a quarter. NQ trading slightly below the breakout level out here, 75, 68, 75 out there. We're about 10 points away from that level. So that is an area of support that's being tested. And the Dow Equity Futures contract 25, 9, 10. Not I don't know if these were hit right to the tick or not, but you're looking at it on your screen if you're watching us on Tiger TV. If you're not, you got to ask yourself, why? Why aren't you watching us on Tiger TV? You know, I get it, you're working, but hey, you can always watch the archive of this. I know Scott will watch the archive of this. If we take a look at Russell 2000 right there at support. So here's the deal, Shamil. Right now we have the four equity futures contracts. And if we go take a look at the four daily cash indices out here, we're going to see a different picture. Which one's telling us the truth? Which one in this Liars poker game is telling us the truth? Well, you can use six and a half hours of information like, or you can use 23 plus hours worth of information. I'm going with the latter. Now look, if price closes below these levels, that's why it's so important. If price closes below these levels, what it signals to us is a change in trend will cross that bridge when we get to it. So that's what the daily timeframe charts for the equity futures contracts are showing us. We don't need to go take a look at profiles. We can, but prices below the daily, there's no new profiles daily or weekly for the equity futures contract. So right now what you and I are going to recognize and realize is that the four contracts have moved back to breakout support. I don't know if they're going to break down, mean close and break below those levels, but they have moved to this area. What else is it that we have out here? Well, what we've got, I mentioned this in the den. This one here is for Z for John inside the Tiger's Den. He loves the market singing in the key of G. And if we take a look at our five-hour timeframe chart for the ES mini, the high out here, road momentum indicator top back at about nine o'clock in the morning, this is on September the 13th. And now we are down, we actually got down there at about, when was it about four o'clock this morning, is when we saw price get down and begin that moving into that wave number seven. That is letter G on my screen out there. What does that mean? This is coinciding right at an area of support on the daily contract out there. It means be careful. It means be careful out here. It means adjust your stops. Or if you see some kind of bottoming signal, consider taking the other side of the trade. What do you mean a bottoming signal? Well, if we take a look at the short termers out there, that means a 30-minute timeframe chart. What we're going to see is that as we came on the air at one o'clock out here, it was bar number eight of a TD setup nine count pattern. We're likely to, we've got 16 minutes before this bar closed. We're likely to get a confirmed TD setup nine count on the 30-minute timeframe. Of course, price would need to close above Stevie's red line. That's $28.90 to suggest that it has legs to the upside. Upside legs would take you up into about the, let's say about $29.23 or just slightly above that. That's going to be the top of the profile, the current profile, but it's also going to be the resistance line. The main line will form there at about 130.01 seconds out there. So what do we know as we summarize the first segment here? Four equity futures contracts right at breakout support. Five-hour chart for the ESMini, wave number seven. 30-minute chart. TD setup nine count. Steve Rhodes with TFNN. We'll be right back. 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TFNN.com, educating investors. Toll free at 1-877-927-6648 Internationally at 727-873-7618 So Dom's off 526, S&P 57. We're gonna stay along the lines of the indices and then we'll switch over to some of the other instruments that have been requested out there. What do I mean by that? Well, Peter wanted to take a look at the New York Stock Exchange Advanced Decline Oscillator or I believe that he did. And for good reason, he probably follows it. He recognizes that right now you've got the Advanced Decline Oscillator with reading of minus 189. Now when you get down to the minus 150 level that is where the market, where you begin to see bounces or bottoms. Bounces or bottoms. It is also another way of saying that the New York Stock Exchange is very oversold at this stage. So as we speak right now, 119, going along with what we just looked at inside the Four Equity Futures contracts. Take a look at the oversold reading inside of the New York Stock Exchange Advanced Decline Oscillator. It says, okay, prepare. Now, you may say to yourself, look, Stevo, come on. How do you figure that out? Did you just pull that out of your, you know what? Well, the answer is no, absolutely not. Here, let me just show you how I figured it out. How it works, you know, because you got to know the best of times, the worst of times out here. So if we go to the worst of times, let's go back to 2007. Here's what I'm going to have you take a look at. I'm going to have you take a look at the green arrows. Now we know in 2007, the market topped right here where my crosshair was at. Closing base, October 12, 2007. Now what I want you to pay attention to is the bottom in panel number two, kind of where my cursor is at. You're just going to see a yellow horizontal line that represents the minus 150 level out here. What I want you to notice, I want you to notice, and here's the green arrow. So they're all marked there as the advanced the client oscillator reading gets down there. Even in the worst of markets, what you saw was some kind of relief rally. Some lasted longer than the others. Let's not get too caught up into it. There's an occasional time where it was just a blip, such as back here on July 7th of 2008 out there. Of course, the next bottom that formed out there, what you see is the price was moving lower, but the advanced client oscillator reading was actually making higher bottoms out there. The sign of more counter trend rally. So this was how Stevie, one of the ways that Stevie figured out, you know something, this minus 150, this minus 250 level, they're really key for us to be watching out there. What's the next thing that we figured out? Well, actually, if you kind of go back here, it's not going to be as easy to see, but you'll still see it, no matter if you're watching on your phone or your iPad or whatever you might be, or your computer screen, or whatever you might be watching on out here. What I want you to notice here is, here's the 2009 bottom, where my cursor is at. And when I want you to really know, and by the way, the spot volatility index reading at that stage on March the 9th was 49.68. 49.68, what are we at today? Remember what we're at today. I thought I had it out here. I don't have it out here. That's weird. Where did that thing go? Okay. Well, it doesn't matter. It's not there. I don't know. It's like 20 or something like that. 49. Remember, you know, you talk, many people they'll talk about, you know, it's low, it's at 10 or 13 or nine, and there's complacency or what have you. As a 50 would be anything but complacency. But what I want you to notice here at the bottom of my screen, the red line is a 50-day exponential moving average. And notice how the spot volatility next day below the 50-day exponential moving average for a good majority of that move between March 9th of 2009, all the way up to that first move high in the June-May timeframe in 2009 out there. So that's how that other vehicle was determined. It's why you and I take a look at that 50-day exponential moving average for the spot volatility index. But what else did Stevie recognize? What I recognized as well was when that spot volatility, that was just trading at 2078 out there. Right now, as we speak, was above all of its forward futures contracts. So if you look at the below this level here, you'll see that we begin in October of 2019. And we take it all the way out to June of 2020. We're at 2081 in the spot. VIX, all the forward futures contracts are below that. There, I created this little screen on the bottom right-hand panel that's taking a look at the spot volatility index versus three months. You can do it versus three months and six months. It's one year out there. And when it gets to a reading of plus one, you start looking for bottoms to form. You don't just buy it outright. You look for other types of signals to form inside of the market. Whether or by not saying a bottom is happening today or it's happening at 1.23 in the afternoon, it could, based on some of the things that we're looking at. That's not what I'm saying. What I don't want you to do is get married to the short side here. I want you to be prudent about your decisions about using stops because we go take a look at these patterns. I just took you back to 2007, so you didn't think I was just pulling something out of thin air. I'm here today, each and every day, to do what I can to help you and protect you. And to just simply be the narrator of the charts. Recognize these patterns that are out there that help us. Hopefully you'll use them in your future as well to assist you and you'll pass it on to somebody else. This isn't some secret society that we're in. You and I. This is about you and I being able to make money as a team. As far as I'm concerned, we are all on the same team. Now, whether we have different views, that's okay. We're supposed to be able to have different views for goodness sakes. How else do we learn out here? But look, I am saying this stuff, narrating these charts for you, going back and looking at these patterns for your benefit, for everybody's benefit. It makes me a better trader as well. Nothing like trying to talk to somebody about patterns and anyway, here's the vex. I just found it was I looked over to the right-hand side. Now, we took a look at the support levels. Those were the red lines on the equity futures contracts. If we take a look where the spot volatility is bounced up to 2115, that's its breakdown level. So Jay, we took a look at the support areas. Those were the red lines on my chart inside the equity futures contracts. And now we're taking a look at the spot volatility index and it attaining its breakdown level. Now, if the spot volatility close above 2115, it could be a sign of things to come, meaning even future moves higher in that spot volatility index. But a bottom is in the process of forming, not necessarily today. In the New York Stock Exchange, it can take several days. There's different patterns out there associated with those bottoms, but recognize that you now have and you have the JS about the one-day rate of change in the spot volatility index. If we take a look at what went on inside the ES mini, so I was putting together the newsletter yesterday with my laptop, because as I mentioned to you the night before I lost power, it's kind of messed up a bunch of things, even though I had backup systems on there in any event. Enough of that. Jay, as I was writing the newsletter yesterday, what I was sharing with subscribers was that the ES mini on its 30-minute base was in the process of forming a rose momentum indicator pattern. It actually formed, well, let me see, where was it? It was right back here. It actually formed by five o'clock last evening out here when we had the bullish reversal signal. And there was like about a 12-point move to the upside, so there was that bit of a countertrend rally. And then as soon as Asia opened up, the markets began selling off. Does it matter if you have two days in a row? I don't know what today's reading is going to be. Right now, we're at 11.96% out there. I originally years ago did a bunch of work to see if you had two days in a row or three days in a row. Was there some higher probability? And the answer was there weren't actually enough occurrences to really conclude anything. And so my conclusion was, just trade each day differently. That's why we're not prisoners of our past. Can you imagine being a prisoner of your past and trying to navigate these markets? It's all about the new information provided to us. We'll be right back. I'm certain you are or strive to be one of the best of the best at everything you do in life. It's the most common trait that we tigers and tigers share. If you're looking to become the best of the best when it comes to managing your money, let me teach you to do what most wealth managers tell you can't be done, which is how to time the markets. I'm Steve Rhodes, author of Mastering Probability and for the last 12 months, Timer Digest has been tracking my newsletter signals which have earned me the ranking as their number one market timer in the nation for the S&P 500 for the last 12, 6 and 3 months. Timer Digest also ranks me as the number one market timer for gold as well. 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Get your copy of The Art of Timing the Trade Chart today by visiting TFNN.com and the Swim Banner on the front page of TFNN.com Alright folks, let's get to some of these requests that have come in here Let's move away from the equity markets Let's go take a mic rights in and let's take a look at LightSuite Crude Ruby wants to take a look at LightSuite Crude If we just took a look at this chart here and tried to figure out what LightSuite Crude is what we would know is that it looks like it's headed down towards the support level of its daily profile $1.32 out there but we're not going to stop there We're going to go take a look at Stevie's other charts If we wanted to understand the bigger picture of LightSuite Crude, what we would do is we would begin by taking a look at the monthly time frame chart and here's what we know from a monthly time frame perspective of LightSuite Crude It is trading between resistance Resistance was the TD setup breakdown level 77.54 You can see how price stopped right at that area This was right here back in October of 2018 We also know it's trading between that and support and support is 47.21 That area was tested back in December in January, December of 2018 January of 2019 So 47.21 to 77.54 on the bigger picture folks That's what LightSuite Crude is doing out here At this stage of the monthly time frame price below Stevie's red line which is 55.01 says lower price in the bigger picture out there If we take a look at a smaller picture of the time frame chart, it shows that price is trading between support and resistance of its breakdown and breakout levels out here How does this work? It works folks, that's the whole thing It just simply works out here So price is trading between 62.90 and 51.60 Now what do we know about the daily chart now that we didn't know when we took a look at Stevie's signal chart Today is going to be bar number nine Bar number nine of a TD setup nine count pattern Now a lower low can occur tomorrow and it may occur tomorrow The bar following bar nine can also be the low of a TD setup nine count Bar 11 negates the whole thing out here So we have price pulling back to support at 51.60 TD setup nine count that is going to culminate today out there If you're trading LightSuite Crude or you want to trade LightSuite Crude then look for a bullish position out here and recognize that the first stop, the first area of resistance will be Stevie's red line which turned red just a couple trading sessions ago So what we also know is that when the price also gets to zero, we know that because the line is a chameleon, not a chameleon a chameleon and changes colors that we should expect price and the line to catch up to each other That's at 55.81 So we should at least see some type of bounce of that level then you can open up the Kamona MySherona and head up to 60 to 90 This is the consolidation pattern that LightSuite Crude is trading within. I hope that helps you out Ruby I hope that helps you out Mike in Sarasota Mike, I'm going to skip over your other question at the moment and we'll come back to it assuming that we have the time out there but Nick writes, I just want to see what the other questions are Nick writes in and says where is the Dow and DAX and tell me what you see and where you think resistance and support levels are So Nick, I think we did that by taking a look at the Dow Equity Futures contract I know you want to take a look at the Dow I will do that for you where do I where is that chart where I'm looking for a chart that I can like well I can do it I guess I don't want to do it that way Nick I thought I had something that that would be easy for me to run to and clearly oh I didn't save it for some reason okay so how is Steve going to do it I guess I'm going to do it this way let me just take this fixed chart out here sorry about that folks let me pull up the Dow and what I'm going to do is I'm going to change a few things here so let's pull up the Dow for you so what we know on the Dow is well here if we take a look at the cash in to see you're asking for support that level is 25 978 22 that is the breakout level the actual low that we've seen in the Dow is 25 974 12 so that area there has been tested been tested out here so far rejected if you see a close below that level though it says curtains now what does curtains mean it means okay you could go run back to one of the prior swing areas out here you know I'd want to get a confirmation August 15th area but look Nick in light of what we just took a look at the spot volatility index out here the one day rate of change and so forth it may take a while to get down there right now the key is that prices have come back to a very logical breakout area and we don't know if they're going to fold fail or work and so that's what we're going to look at right now right now is a 135 in the afternoon they have worked out here or it has worked now you're asking me about the Dax and I think my Dax chart is not going to update until later on tonight I will pull up the Dax because I don't think it had a hammer candle today and so the support level that's what you're asking for where do I see support inside the Dax and look at how that resistance level for the Dax has worked so if the resistance level has worked maybe the support level is going to work too which takes you back to the Dow so Nick I hope that that helps you out with regard to what you're looking at as a closer look as to where support or resistance is for those two instruments next question coming in is a request from Dennis Dennis G writes in and says I'm looking at O-L-E-D let me do this here O-L-E-D let me type that in on one of my screens on the other let's type that in as well then we'll read the rest of the question to see what it is that Dennis is after so I'm looking at O-L-E-D it looks like it is broken it's broken broken if you break it you own it it's broken and going a lot lower well here's what we know it's below the daily profile the weekly profile and it is trading with inside the monthly profile so I don't know what a lot lower means but right now the monthly says headed back to 153.77 or the bottom of its monthly profile 128.26 is a profile that just formed in the month of October I was originally waiting for a bounce close to the 50 day moving average on the weekly I don't use the 50 I don't use but okay all right now I'm looking for a bounce to around the 173 are in exiting there I'm reading this right 173 so you're looking for a bounce okay so it sounds like you're in if I properly have interpreted your message out here O-L-E-D let's look at the daily chart daily chart I don't see a bottom I don't see a bottom I see the top right roads momentum indicator top shooting star evening star the whole nine yards out here wave number four to the downside maybe a TD set up nine count daily chart says price may come all the way back to the June lows in the 143 level forget about 173 at this stage here we don't see a bottom signal on a daily timeframe let's go take a look at the weekly timeframe what do we have prices trading blow its weekly support 165.36 Dennis you don't want to see a close below 165.36 says price will have closed below its breakout area it also has a weekly roads momentum indicator top big old bearish engulfing candle there this would say over the long haul O-L-E-D could easily come back to 80 to 13 I'm not making that as a forecast just yet that is just simply its next price target to the downside if we take a look at the monthly timeframe chart out here well it's not going to produce a well I don't know if it will right now doesn't look like it will produce a TD set up nine count pattern out here but at this stage here Dennis I see lower price I do not see higher price in other words I say I do not see a bottom in universal display corp Steve Rhodes with TFNN will be right back if you're in 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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 the next move is the Bounce to the 173 area and if there is a bounce out here which you're going to be focused on Dennis is going to be Stevie's red line currently price at $172.11 price moves up a bit so too will the red line let's not and if price were to close over that then you could have more countertrend rally so no bottom but we can't control what the next move is going to be in the market what we can do is identify a tool that has been in in being able to provide you with the message of the market see when the line turns from green to red as it did back here on September 13th it tells us of a phenomena that phenomena is that we should see price in that level catch up to each other and that's exactly what took place out here on the trading session September 24th price and that line caught up to each other now because the line was red it was telling us that our price us that it was below zero the rejection of that which was both on the 24th and the 25th of September told you that the pattern was bearish why was it bearish because there's there's nothing more bearish than a falling price loss that are below zero that's what we have you could have an A to B equal CD to the downside let's not worry about that but if there is some type of rally Stevie's red line is likely going to be your resistance point currently priced at 172 and some change out there Lee writes in Lee B and he writes in and says beautiful day in sunny California perfect good day here also in Florida gold off to a off to the races again is it finally time to jump back into the gold sector or just a bull trap lots of volume picking back up so yesterday Lee when we took a look at that specific question we were looking at the 30 minute time frame chart on the show and we were noticing was the was a potential for a Gartley sell pattern that Gartley sell pattern this is a 30 minute chart never never came into play we never got the bearish reversal signal out here and so without that the Gartley sell pattern didn't take place there was a TD set up nine count but it was just the hiccup kind of a move it just simply moved sideways out here and continued moving higher now as we speak it looks like there may be another rose momentum indicator top that is trying to form so we're basically in the same place that we were yesterday afternoon again this pattern doesn't mean a thing if it ain't got that swing and the swing would be some type of bearish reversal candle first then you need to close below Stevie's green line which is a 1505 60 but with this pattern in play it's kind of hard to suggest that you get into the trade the and it was the 30 minute chart that gave us the sign of the bottom yesterday morning out here similar to what we're you know trying to watch on all of the futures contracts out here if we take a look at the 60 minute time frame chart because it too was identifying the bottom yesterday morning here's we're going to see we're going to see the larger a to b equal CD to the upside this pattern to this would also be a Gartley pattern out here or could be a Gartley pattern and so no just like yesterday only we're looking at 30 minute chart now I'm looking at the 60 minute chart out here you've got an a to b equal CD pattern that's in play it's probably only a matter of time before some type of bearish reversal candle forms although I cannot guarantee it but if it did every Gartley pattern has five potential outcomes those outcomes could be just at the point three eight two retracement point six one eight point seven eight six the hundred percent move a move or really an a to b equal CD to the downside so is now the time to get in I can't I can't give you that signal that now is the time to to get in now what I will share with you is the following and this folks are for subscribers as I mentioned this morning a new profile was attempting to form and that this profile may not take hold or may change now this is my advanced Doppler tool out here and what you will see and by the way it has changed let me just turn price off that way subscribers know exactly what they are looking at and this morning what we had I believe was a bearish structured profile care I think was bearish and structure out here the center line of that box has moved it has shifted to basically dead smack in the center 1504 20 the bottom is 1472 80 and the top is 1535 50 so Lee very possible that price is going to make its way all the way up to 1535 again I don't control price action but it's just the patterns that we're taking a look at that you know you ask me do you get in now here you what you've got inside of Goldilocks the series of lower lows lower lows and lower highs out here and so price may bounce all the way up to 1535 out there the top of its new daily profile but I won't know if this profile is really going to form what do you mean use an advanced tool let me put the other tool up here to show you the profile and now you'll see it and so you will see that the one that we were just taking a look at is the advanced Doppler Stevie system out here at this stage of the game Lee if we were only looking at this profile and it's not wrong to do so if we were looking at where is it that price would stop on a move higher it would be the center of that box and that level is at 1506 we're trading at 1510 $4 no big shakes out here so that my answer to you has got to be the same and it is no I don't I don't see I don't see the I don't see it I don't see it but I could be blind I shouldn't really say that to go to see the eye doctor yesterday but in any event I so that's what I'm looking at you're looking at what I'm looking at if you've got a different analysis then you know hunkered down if we take a look at the GDX just out of curiosity see what it is doing out here do we take we took a look at LED GDX out here see what it's doing with regard to profiles so you're asking about the GDX course I was focusing on gold what's the GDX doing trading below the bottom of its daily profile not good fine support at the bottom of its weekly profile 2672 so that's okay let's go to the GDX over on Stevie's other charts let's see what they say because in essence you're really asking about getting into the mining equity out here what kind of pattern do we have any kind of bottoming pattern out here we don't have anything inside of Stevie's system what we do have is on the GDX notice how Stevie's oscillator on changeline is turned from green to red did that today so there could be more of a countertrend rally right up to resistance which is 2797 out there now right now it shows that it's a hammer candle out there would that change my mind no the only thing that would really change my mind here Lee would be would be closing over Stevie's red line to 2797 right now it looks like just a countertrend rally up to that level before the next selloff takes place or inside of gold it could be the top of that new profile again I don't know if that is going to form or not so I hope that that helps you out at least with regard to the way that Stevie is reading the charts we got Jerry writes in and Jerry wants to take a look at Roku R-O-K-U and could I please take a look at it I can I don't know what Jerry is looking at if he's short if he's long at this stage here my analysis it really doesn't matter what do we know about Roku trading below the daily profile and this is a brand new pop star trading it has a brand new profile that just formed let me start over a brand new profile that just formed the bottom of that box out there is 101 0 1 the top is 109 81 out here doesn't mean that it's formed bottom but it's trading in between support and resistance below the weekly and there is no monthly profile out here has it bottom has Roku bottom isn't that the question well let's see the low out here was made on bar number 8 of a TD setup 9 count this says Roku at least wants to bounce to where folks Stevie's red line 1 14 59 since 1984 Basil Chapman has been using the Chapman wave methodology to advise traders of his expert market opinion well 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 likes to the upside before declining sharply later Basil found the computer software which included the standard market technical indicators enhanced the degree of accuracy and 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 to the opening call Basil's daily trading newsletter by visiting the front page of TFNN dot com cancel it anytime during that trial and pay absolutely nothing get your two week free trial to Basil's newsletter the opening call today by visiting TFNN dot com if you're a trader in the market looking for exposure to gold or gold mining equities then now is a perfect time to sign up for Tom O'Brien's gold report the summer is over gold is trading back above $1,500 and the 10 year treasury is hovering at around 1.5% Tom O'Brien has been writing his weekly gold report for almost 18 years there's no one that knows more about how the gold market trades and how gold mining equities react new subscribers get a 30 day money back guarantee so you have nothing to lose every Monday morning Tom publishes his weekly gold report with coverage of gold silver bonds the XAU HUI GDX the dollar as well as more than 30 different mining equities as of September 3rd gold report subscribers have five active open positions with an average unrealized profit of almost 38% for each position to see for yourself the types of profitable trades that are recommended within the gold report sign up today by visiting TFNN dot com you know what's cool taking something that's good for you something specifically formulated to help with weight loss better sleep stress reduction and the need to detox Nicar hunter and gatherer ancestors found all their nutritional requirements for health and their wild environment but today our food sources no longer contain the vitamins minerals and nutrients our bodies need to stay healthy and strong that's why we need primal edge daily nutrition it includes a special blend of ionic soil based vitamins minerals baddie and amino acids in an easy to use liquid form primal edge is powered by highly concentrated folic and humic acids nature's preferred delivery system they've been called miracle molecules 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count you want to watch 96 bucks Jerry that is its last breakout area on its weekly timeframe chart of price closed below you then you're looking at sixty one eighty five inside of Roku so right now it looks like just only a counter trend rally versus a bottom that signal could change if resistance levels begin to fail so in the last minute out here it looks like we're going to get to everything let's answer Mike's question about CBL so let me type that in here this is great perfect worked out great I think we got to everybody's question if we didn't I super apologize I thought I got to everybody inside the den so this is a CBL and associates property real state company as a broken its daily uptrend in essence out here as we take a look at it here's what's going on inside of CBL on the daily timeframe it appears that price is I don't boy the daily timeframe I don't have a good read I don't have a good read so I'm gonna skip the daily timeframe daily's trading below the bottom of its daily profile that formed yesterday so that says okay this thing may head lower weekly timeframe out here you know would say to me price may head down to 73 cents out here I don't have any real clear signals prices trading above the top of its weekly box so that's at the 113 level watch that Mike if price closer below that that says 84 cents would be in line out there for ticker symbol CBL and I don't see a bottom per se on the monthly timeframe chart but I need more than just a 10 seconds to look at it a folks thanks so much for being here stay tuned your favorite polar bears up next Tom will Brian to take us on home I'll be back with you at 1 o'clock on terrific Thursday have a wonderful Wednesday look forward to seeing you soon