 The following is a presentation of TFNN The Traders Edge with Steve Rhodes Toll free at 1-877-927-6648 or internationally at 727-873-7618 The Traders Edge Now Steve Rhodes Good afternoon folks. Welcome to the March 14th the magical magnificent Monday edition of today's Traders Ed show I'm your host TV perseverance Rhodes who absolutely knows that each of us should always be Pioneers of our future versus prisoners of our past. Hope everyone out there is having a great day Hey, let's make sure we have an extraordinary one of the easiest way to do that Well, it's to always remember that life is happening for us Not to us That's right. We do not make that one little two-by-four ship Well, it means we can find the gift in every set of circumstances 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'll go figure out what those bulls and 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 I'm absolutely grateful for your presence here more important than that though Is that during this next 60 minutes? I'm here to serve you So feel free to pick up that phone. You can dial on in at 877-927-6648 if you can't dial in We've got you covered there, too You can always let those fingers do the walking that means go ahead and send me an email Send it to Steve at tfnn.com and inside that subject heading Please put radio show question, of course, and our Tigers then well any and every ping will do So let's go ahead and get this show started a month on a marvelous Monday, of course This is tiger financial news network. I'm Steve Rhodes. Welcome to less show right now We got all the indices trading the downside with the exception being the Dow which is up 78 points 33 022 is its print The S&P's off 24 half a percent NASDAQ's off 1 and 7 tenths or 235 points The Russell's off 1 and 7 tenths percent 33 points the semis 3 percent 92 points trend is up 78 Gold's back 2280. She's printed in 1962 silvers down 83 cents. That's a little over 3 percent 2532 is her print lights we crude print out at 102 19. That's off 7 bucks Natural gas off a dime a little over 2 percent four dollars and 61 six Four dollars and 61 cents is what it is printing and the 30 year treasury off two full points and eight ticks She's printed out at 152 26 lead the charge dollar wise the upside You got buy on tech bntx is a ticker symbol of 17 bucks 13 percent dexcom is up 14 bucks E-PAM systems up 14 that's 7 percent moderna up 10 percent or 14 and black rock is up Just a little over well one or three quarters percent or 11 buck runes to the downside is google 85 bucks a little over 3 percent amazon 85 3 percent Tesla's off 35 4.4 percent abridine standard is off 34 bucks or 13 percent Paloal networks off 5 percent 27 buck runes. So let's begin with where to want to begin I think why we should begin. Let's just switch over here and as the first spot So now you're looking at our four panel. You should be looking at the four panel white background charts daily time frame Yes, many the upper left hand corner and cue in the upper right down the lower left Russell 2000 lower right now we take a look at the one that makes the most What's what's the most important chart? I think for us to look at is going to be the enq and the reason is Well first on a daily time frame Each of these have bottoming patterns in the es many It's a td9 count and rosement a indicator bottom in the case of the enq It's a td9 count and rosement a indicator bottom in the case of the dow It is well both the same a td9 count at a rosement a indicator bottom and for the russell It is just a rosement a indicator bottom signal. So they all have bottoming patterns The one that is being threatened right now is the enq first price is trading below the rosement a indicator signal That would be would need a low or a close below. I should say 1310675 We're 13061 the td9 count bottom that would negate really both those signals is 13031 We're 13061 right now. So you want to watch that at day's end So as prices moving the reason why I think this is the most important chart for us to go look at Is prices pulling back to a potential Potential level of support that was established by that td9 count typically if we're going to see a bottom here That always but typically we'll see some type of bottoming signals for the intraday time frame charts So there is our next move. So the next move says let's go take a look at those eight panel Enq charts out here. If you give me a moment, we'll get over there That'll populate this screen or should populate this screen thought I had it out. There we go So now we take a look at the enq. Let's go see what we can see Let's begin with our shortest time frame, which is a 30 minute time frame That's your upper right hand panel. I'll just simply expand out the chart what we can see here Is no bottom signal. Yes signal. Yes, you had a rosement dominicator signal has been triggered But no bullish reversal candle not until we get that bullish reversal candle with that identify bottom We are in bar number four of a td9 count. So we know that's not a bottom There's no wave count bottom signal that we have out here So this looks like at least at this stage at this very moment 111 the afternoon that the enq wants to head lower Or what I should say is at least go target or at least go test the bottom of that daily swing point level But again, no bottom in place or signal in place for the 30 minute time frame chart Same is true for 60 the 60 minute chart is in bar number seven That's going to end at 2 p.m It could be on bar eight nine or the bar following nine So you could see a bottom signal in the 60 minute time frame chart between two and four this afternoon We don't have any kind of bottom signal on the 120 minute In fact, anything its message is bearish because price was able to bust through that breakout level 13 to 25 A spar number seven on the 240 minute chart that 240 minute chart Let's see this one's going to complete at four o'clock. So we're talking about not until this evening before that could generate some kind of A bottoming pattern and that would be 6 10 really bad say between 10 and 2 in the morning Would be when that could take place on the five hour time frame chart no bottom signal here So as price is approaching that key swing point and not that it can't hold Because it's certainly pulling back. I believe it's pulling back on lighter volume, but there are no Corresponding bottoming signals that we would see in those inter-day time frames And so this is suggesting to you and I that it's going to take those levels out What happens if it takes those takes those levels out? Well It's a great question and I really wouldn't be able to answer that until friday But here's what it could mean and the reason I say I couldn't answer that until friday is because If we take out that low again that low out here in the nq is going to be 13025 Because it's the continuous contract. Is that uh, so we just want to make sure here. So give me a moment, uh, 13 031 well Shoot So we're going with 13 031. All right, so that's the first key out here That's the key low for us to take look at a close below that would in essence a close Not trading below it. This is why I say till friday But a close below it on friday would negate the td9 count bottom And that would then say and we're also below a breakout level 13 462 And so if we do get that on friday, it's only monday Don't know whether we will or we won't right now that level is being pressured But if we did that would give us a signal that price should then move back to its next breakout level And that's at the 10 9 42 area. So, you know, we'll get a signal today That signal would be really you'd get a the close below the td9 count Let me just expand out the daily time frame chart should be enough of a signal to say Okay, you're headed lower But the question is by weeks end you can still hold that weekly td9 count bottom out there And that's why I hesitate a bit But this would be the first real signals a close below that now Where do we want to go to next out here? There's nothing else that's really threatening Why I take one nothing else with regard to the equity futures contracts that are threatening that february 24th Low yeah the semiconductor index. I believe is training below it as we speak right now But we get back to this break. Let's go take a look at a couple of questions that have come in We don't want to get behind on that. Uh, looks like we've got one from tim wants to look at amazon chemical ccj for kc That's all we've got so far. Look great Steve Rhodes started his trading career as a student almost 20 years ago and the student has now become the master Steve won the prestigious timer of the year award in 2018 and barely missed that mark again in 2019 Finishing at number two for the year an amazing accomplishment Steve Rhodes is committed to sharing his techniques and knowledge with anyone who wants to learn And he shares his vast amount of trading knowledge every day. 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Watch online at tfnn.com or on tfnn's youtube channel And become the investor you were born to be tfnn educating investors Hey, that's one eight seven seven nine two seven six six four eight internationally at seven two seven eight seven three seven six one eight Welcome back folks at thousand seventy one s and p's off 22 nasdaq 100 down 225 And we're going to go to the ones one of those nasdaq 100 stocks to start out the Second segment here. This one is a request from tim m tim writes in and says hope you had a great week And I did hope you did as well Please look at amazon a m z n is a turkey symbol looking for the support resistance levels on the daily and weekly Anything that catches your attention. Thank you so much. You're welcome What catches my attention we take a look at amazon. There's a couple of different things tim first We were talking about the nq And it's td9 count on a weekly basis that pattern out here Well, if we take a look at amazon, it has the same thing. So this is january 28th That formed that td9 count bottom last week that level was tested Now on a weekly basis, I'm going to do this off screen here They give me a moment. Let me get to my three panel charts I'm just curious what the volume on amazon was last week. So last week's volume Was as was pushing lower 23 million shares was going against 24 million shares So it's pushing lower with basically the same type of volume out there Okay, but still that bottom held and it's still a significant bottom at td9 count now if that level fails By fail, I mean a close below that area that area again is going to be 270704 Then tim the intermediate time frame the weekly time frame would be signaling to move back to its next breakout level Or its breakout level the first breakout level, which is 23 30 So a close below that td9 count bottom is going to suggest this is on friday A move to 23 30. So that's the first thing that catches my eye. The bottom is still valid The daily time frame has a rose meant to indicator bottom that they resulted from a gap to the upside Which is in essence being tested right now. So we'll go down and check out that volume So that volume metrics matrix We saw a gap up on march 10th was 6.7 million you're pulling back right now at 2.2 So just pulling back with lighter volume prices below that red oscillator and change line tim And if it closes below 28 58 today at a minimum We can say that gap would get tested when I say the gap would get tested. I'm referring to the price point of Really, I'd say probably 2805 But the question is is what is price doing as it gets down to the price level of 28 13 And that is a swing point from march 8th and that swing point had 4.5 million shares We're 2.2 right now. So it is pushing Down with similar type volume not light volume, of course, we'll have a better Uh, we'll have a well better information at day zen versus right now But it does look like this wants to continue to push lower Unless price can close above that red oscillator and change line today of 28 58 or their abouts But overall for me, I was on you wanted support Well, I really gave you support which is going to be the low of the pattern And the low of the pattern here the road's meant to indicator signal I'd say that low is going to be at 26 71 45 because that's where the low is at now That's on the daily time frame resistance is something you also asked for Well, right now with price below the red oscillator and change line that would be resistance The next level resistance would be 30 72 at the bottom of its daily profile Is there anything else out here in amazon that sticks out to us? Well, the 30 minute time frame chart says that we are now in the bar following bar number 9 As we come into this gap. So If it's going to find support It should do it within the next nine minutes. So what's important here to watch tim With regard from an intraday standpoint, it's going to be the low It looks like that low is going to be 28 16 55 Unless in a nine next nine and eight minutes price pushing below that but right now and it could But right now that's the level to be watching if you see a 30 minute bar that closed below 28 16 55 That suggests lower price now You'd say lower price to wear and I would say 27 60 to 43 to be exact That's its breakout level you close below that on a 30 minute basis and then it says lower price But right now when amazon is signaling to you is on a short term basis That's the 30 minute time frame You could see a bottom form and you could see price actually move up to 28 98 But the cool thing about that pattern is you mark that low you and I've already done that You see price closed below that that tells you we're not going north instead when amazon is doing is going so There is no other piece of signal information. Well, hold on. Let me one one more second here Well, the 15 minute chart also has a td9 count bottom. So that in essence in effect This says that price should bounce up to about the 28 58 level that's really altered short term But that should be out of 15 minute basis. That should be a counter trend resistance level out there So tim, I hope that helps you out with regard to amazon and thanks so much for taking the time to write in Let's go to our next question. This one is coming in from casey. Let me get this Started here. It'll take just a few moments for this to all populate these time frames in casey's question Goes like this currently hold the position around 24 50 Price to trade right now folks at 25 36. Okay, would you please run your charts and share your thoughts on support resistance daily weekly And you may have other requests gdx. I'm looking at Uh to exit around 45 more pain before that. Okay, so let's take a look at two This is from denver colorado craig from denver. So as we take a look at ccj You're in at 24 50. What ccj is doing right now. It's testing its daily Oscillator and chains on just simply going to expand out the chart here So because it's green pulling back and testing that level is nothing more than a normal retracement to support That normal retracement to support is at the price level of 25 29 Now that could change by a penny or two So, you know use that as your general area if you did see a close below that Then this signal would be that a further retracement quarter should unfold casey Well, really not casey craig and that would take price back to the 24 o 2 or 21 85 But right now price is holding support I would not jettison the position because price is holding support Do I see a topping pattern? Well, the answer is yes both You and I do and that's the a to b equal cd pattern The a pattern started down here at the low of january 28th running up to the side of the shooting star On a february 10th moving back down to this piercing can on february 22nd And then making more than a one-to-one move out here It is today's gap down that is confirming that signal So you want to really really want to watch that green oscillator and change let it price holds that well Support is held. That's what it's telling you at that stage on a A Monthly basis Kamiko has a td9 count top. So that is still in place out here The weekly has a rogment and indicator top But in that case or in both cases price are above their green oscillator and change lines And the top of their profiles. So craig that says that those signals are neutral And the uh I don't see anything else here to really help you out with regard to ccj So let's go ahead and move on to the gdx out there. I do hope that that information helps you So in the case of the gdx, which is pulling back your question is you're long you're looking to eggs around 45 bucks So 45 bucks. I assume is going to take us higher and yet it's uh pulling back. So, uh, why has that not done? I'll just load in all that information. So The question becomes what's the gdx doing? So let's get this thing to populate here. Okay. So now what we can see First thing that we can see is that price is below and that back to the daily timeframe Although I don't have a topping signal here Because I don't because we don't not least ones that steve uses um That looks pretty cool except the price right now is back below that green oscillator and change lines gap below it This morning at the open So your next level of support here and you're asking, where's the more pain at? Well, the first level more pain is going to be at 36 56 That's the bottom of that daily profile if price were to close below that Then you're looking to move back to the 34 10 level out here So because price is with inside its daily profile Right now we've got a consolidation going on between that because the bottom is held That was from the trading day of march 9th and the top is held that was from the trading day of march 10 Yes, there's a td 9 count pattern, but that high formed on bar number 7 So it really doesn't qualify as a top so to speak But yes, you could easily see price move back to 36 56 and again below that would be 34 10 That's coming from the daily timeframe Steve roge with tfnn we'll be right back. We'll finish taking a look at the gdx and then we'll move on to our next requests Being fun trading the markets But having trouble finding like-minded individuals to discuss your trading and investment ideas with Become an apex predator in the trading markets and join the tiger's den trading room only at tfnn.com The tiger's den is an exclusive trading room where successful traders from around the world come to exchange trades and ideas Join the den and surround yourself with these sharpest minds in the trading world Subscribers to the tiger's den are also the first to have their questions answered live on air And can privately chat with our tfnn hosts live during their shows Interact with other tigers and tiger's sis as they share trading ideas news analysis and discuss the market action all trading day Subscribe to the tiger's den risk-free with our 30-day money back guarantee and become part of the tfnn trading community tfnn educating investors You could be making money off the stock market and if you're already making money off the stock market You could be making a lot more Check out tfnn and tiger tv and get expert investing advice to give you the power to control your financial future Go to tfnn.com and find the newsletter for you Whether you're into trading gold metals futures currencies or options You'll get advice and analysis to help you seriously get ahead tfnn also features trading services with a 30-day money back guarantee for new subscribers As well as tfnn's tiger den trading room trading software and educational webinars for all trading levels And make sure you check out tiger tv for free on tfnn.com or tfnn's youtube channel for live financial content From 8 30 a.m. To 4 p.m. Eastern on market days Stop watching on the sidelines while other people get rich and become the investor. 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Don't miss out on this incredible new piece of software Get your copy of the art of timing the trade charts today by visiting tfnn.com This segment is brought to you by think or swim for more information Just click the think or swim banner on the front page of tfnn.com Welcome back folks at 1053 s and p's doff 26 uh nasdaq 100 down 246 back to the gdx Just to finish this out the other thing that sticks out to me So if there is a close below the bottom of its daily profile and again that level is at 36 36 56 I had mentioned 3410, which is the td9 count breakout level. You can see that that's the uh second chart from the upper right On the right hand side The other area we notice that the oscillator and change line change colors a couple weeks back and when that changes colors We typically see price net line catch up to each other more often than not It's when we get a topping pattern that's in play and I don't have a topping pattern in place here on the weekly time frame chart But you close below the bottom that profile 3410 is going to bring us into that 3380 level So that really becomes your range of a move to the downside if the bottom of that profile gets taken out So that's the last piece of information I've got out here the 130 minute time frame chart did top with a td9 count pattern It's trading into support and that's at the 36 60 level. So close below that below that would say 35 35 If we're really going to get granular On the uh 30 minute chart out here. I said I was done, but apparently I lied The 30 minute chart has a td9 count bottom. So this will be helpful to anyone tracking the gdx And that says pay attention to low this half hour. So we just started that new bar I don't know what that low is going to be whatever the low is of this half hour That should hold the support and you should see a rally the rally would take up to 37 32 the oscillator and change line If it doesn't act as support, that's going to be your signal that price is going to head lower Certainly test the bottom of that daily profile, but perhaps lower than that So that's what the 30 minute chart is assisting us. So I do hope that helps you out that thorough review of the gdx Let's go on to our next question next question here coming in from uh denny A denny c Should I get out of fbnd? I don't know. Let's get the fb fbnd Out on the screen out here And I have no idea what that is, but i'm going to find out on my other screen fbnd And then we'll fully read the question that is a fidelity Merrimack street trust trading out at 49 82. Well, we take a look at the charts We can see this thing has been falling like a knife So should I get out of fbnd bond fund have been in it for diversification in my long-term IRA? Thanks, tennis Okay, let me share with you what the charts are communicating to us And then you make that decision we're going to start with the long-term chart That's the monthly chart and it's that td9 count top. So i'm going to open this up here I'm actually going to see if I can add more data uh to the series See if there is more data. It's probably only got 5400 bars there Yeah, I hate to expand it too much just keeps increasing the time frame But let me just pull this back just a tad See if there's anything here Yeah, it looks like the answer to that is no, okay. So that being said Here's what we know you've got a td9 count top that formed out here in august of 2020 You are in bar number six right now You're below the bottom of its monthly profile And with this suggests to you an identity that price wants to target 4508 you're at 490 4982 as we speak That's what the monthly chart is communicating The weekly chart is communicating that price wants to move lower as well. Why do we say that? Well, there was a td9 count bottom that formed here february 25th That did what it's supposed to do which is take price up to the first level resistance in this case here It was that red oscillator and changeline it tested and rejected that and last week You close below that td9 count bottom This says it wants lower price now lower price could take us all the way back to lows of march of 2020 In the 45 dollar area Well, what I can share with you It's never a good thing to trade below a red oscillator and changeline And it's really never a good thing to close below a Valid bottoming signal such as the td9 count that just simply suggests lower price So that's the weekly chart. How about the daily chart the daily chart says Here's the deal The deal is you've got wave number seven. That's letter g. You could see a bounce here You have to have a higher low So we don't know whether that will take place tomorrow or not You could have lower lows and that just extends the pattern You can also see your bar number seven So you could be getting close to a bottom between tomorrow and thursday That would be the td9 count. We can also see a roadsman to indicator signals been triggered That requires a bullish reversal candle But as we speak right now no bottoming signal really in place There's the potential of those bottoming Signals but nothing that has been confirmed and so that suggests lower price But if I were to give you from a chart perspective when you could see a bottom I'd have to say it would be between Tuesday Wednesday and thursday when that td9 count pattern would come in and then you'd just be looking for a bounce up that Red oscillator and changeline now that's currently printed at 50 33 that number is going to change by tomorrow by wednesday and by thursday out there But with regard to the question, you know, do you jettison this position? This has broken through key areas of support out here I'd really have to go in to figure out what is Within side those holdings. That's what you should do. I don't know what the duration is I don't know if these are corporate bonds It's just a bond fund So I don't really know what's inside there and you'd really want to take a closer look at that to do a more thorough and more accurate Study of this but uh, yeah the monthly the weekly the daily time frame charts the 195 minute chart Suggest lower price the 130 minute charts as you could get a td9 count Bounce today the same thing from the 30 minute chart the same thing from the 50 minute chart, but bigger picture It does not look really great for you, Dennis so I hope that that helps you out and You know with regard to the idea of Taking your long-term portfolio and having some type of mix of bonds there knowing that interest rates are likely going to rise May not be the best place to park your Assets and then I throw one other thing out there. This is just fundamental But this is you know for every action there's an equal or greater reaction And I would ask you this question here With exactly I don't know what's inside your holdings But the question I would ask is this do you know the countries that have largest holdings of u.s. Treasury debt? And the answers you probably do and you'd probably right fall of course stevie That is japan number one in china number two What is like 1.3 trillion or something along those lines, but in japan is number one I believe duffy but that you know china is uh, you know 300 billion behind or something like that now What we know here is the actions taken by this administration We're to uh, you know go Uh collect assets of people that they don't like Ola garks, whatever you want to call them out there That sends a signal that if you're on the wrong side of the u.s. Out there That they're going to go ahead and confiscate your property Now if you're a holder of debt and you're in china What are you thinking out there especially knowing that they've got the whole taiwan thing possibly coming to a neighborhood soon out there So what do you think they're going to do with their treasuries if that's the action they're going to take They're going to be selling into these rallies out there So while the markets might move higher with regard to treasuries because of the chaos over in europe Chances are that china is going to be the one selling into them So I don't know if I would have too much of your portfolio But you've got to do what you've got to do but just fundamentally think about the shift that has taken place out there If you are responsible for china's sovereign debt out there And you know that there's likelihood of some type of confrontation coming with regard to taiwan and you're holding all this u.s Dollars so to speak aren't you going to go ahead and find a way to get out of them So everybody should always take that into consideration for every action There's a equal or greater reaction this case here It's likely to be a greater reaction. So I hope that helps y'all right now We've got all the indices trading the downside the dow's off 33 the s&p's down 35 nasdaq 100 267 the russell's off 41 points the semi's off three down three and three tenths percent out there And we come back. Let's go take a look at another question This is from nicholas and why don't you take a look at the sell i conductors that I believe are trading below They're swing, you know, she wrote the tfm Are you in the market for buying or selling real estate in the bay area Including the surrounding st. 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Let's go out to philly and speak with john john. Thanks for calling. Thanks for holding How are you doing today? How was your weekend? outrageously cold on saturday, so uh things are looking up though, so Despite of that my weekend was good. How was yours? Perfect? Perfect? It was a great, uh, you know, we had a cold front that went through here I was playing in a golf tournament and the winds were about 40 miles per hour Coming from the uh, well coming from every direction And uh, literally in a two minute time period We went from 85 degrees to like 65 degrees. I'm not kidding That is impressive It not when you're not prepared. We were prepared for the wind We weren't prepared for that cold front like that to shift but in any event, uh, but otherwise weekend was great Yes, it was a perfect and uh, but you want to take a look at the nq. I believe is what you called them out Uh, which we're trading the x and the uh, the june futures, uh, uh, that uh, right along with that steve, um since your uh Software systems nq futures and the ndx cash index Have just undercut 24th lows. Yes Uh points oftentimes act as support or resistance at least we're prepared to look for that Absolutely and also on that ndx the cash index daily charts I observe under february 24th not not dramatically yet But yes underneath nonetheless That then uh, the Chapman wave count A leg as a Chapman's customer way back when alerted us to the uh utility of The uh, the trough g peak g wondering anything, uh, as you look at your charts on the shorter term charts that i'm thinking Would be the 30 minute two hour or five hour indicating bottoming potential plays So the answer to question is no And i'm going to go ahead and throw those charts up on the screen The reason why I answered it so quickly is because we went through that uh, just a tad earlier And typically you're right when we see price hitting a level of support that we would anticipate may hold Well, we like to see a some type of bottoming signals on those intraday time frame charts The 30 minute chart your upper right hand corner You're in bar number five as we speak right now So you could see a td9 count Take place need uh another hour and a half two hours out there for that to take place The 60 minute chart this bar ends at 2 p.m. It's bar number seven So you could get a bottom signal between two and four And and uh the four hour time frame chart is bottom is is in bar number seven But that doesn't complete till four o'clock So we don't have the type of bottoming signals that we would expect doesn't mean John that that can't hold it's just that we would typically look for isn't present at the moment What else can I provide you with no that is um That that answers the questions succinctly and quickly. That's the best way terrific. That's all okay. Yeah, perfect All right sounds great. Stay warm up there and thanks for calling as always and we'll look forward to speaking to you again soon I hope Ship some Gulf of Mexico temperatures up my way, would you please you got it? You got it. Happy to do that was john in philly Uh, so now let's go back and let's take a look at the smh's if you give me a moment here. Let me uh Change the screens. I believe I'm still on the white background screen. So that's good You know, we're gonna do here is get back to the charts that show us Uh the uh multiple time frames for the smh's out here. Let's read nickel's question. Nick's writes and he says I hope you had a great uh Time off I did Uh, would you mind going over the smh's? Uh under the march 8th low seams wants to go further down Where do you see the next support level? So we take a look at the smh's out here What are we going to look at first? Let's uh, let's focus in on the daily time frame and on the daily time frame We've got no bottom signal whatsoever I I take that back. It's triggered a roadsman to indicator signal But you need a bullet reversal candle to confirm that bottom. So I don't see anything there The question we be where is price headed to next now? I think I only have the the three Breakout levels. So if you give me a moment here, we can just add in on this chart here I'll just put uh, give me all the breakout levels So I'll give you the next breakout area for the smh's for the daily time frame And now we can say that figure is at 223 94 Yeah, sorry for that silence there, but 223 94 would be your next price target area Short of some type of bullish reversal candle Forming and then confirming a roadsman to indicator bottom. Now, let's go to the weekly time frame chart We're below the bottom of its profile bullish and structure closed below last week closed below at the week before that Meets our toolbar requirement. You've got an a to b equal cd to the downside now I can't really draw in accurately the a to b equal cd pattern But I can give you a kind of a price projection. So there's tops of the roadsman to indicator signal I'm just going to move the a to b point now to the c to d point And then that's just going to give us a price projection area And that's around the 219 and the 219 level would be your one to one But we don't know if it's going to only be a one to one Price projection on that a to b equal cd pattern, but that gives you next price projection area Your breakout level on the weekly time frame is 170 46 out there So that is not out of the question If we look at the monthly time frame chart the smh's are pulling back into support And here's the key support level and that's the bottom of its bullish structured monthly profile. That level is 234 31 So that's really a key level that you need to see hold. Of course, it's a monthly chart It's only the 14th out here But nonetheless if price begins trading below that what it does is increase the odds Nick That price is going to go and tag the 216 14 area So I would say 216 for well for 234 31 And then 216 14 Are your likely price target levels out here? No as we look at intraday type charts out here On the intraday level the 65 minute chart is in bar number nine This completes at uh, well completes in one minute 13 50 is the time frame out there so um So this is going to complete and that says you could have a TD nine count bottom the next hour In a half or so Because that low can form on bar the bar. Oh, I take that back in the next 65 minutes. You're in bar number nine So if this is going to form a bottom you want to follow the low the lowest low Whether it's this bar or the one that takes place another hour and five minutes from now So that basically takes us to about three o'clock out there and if uh So that could be your bottoming signal nothing on 130 now when I say bottoming signal I'm really just referring to like some type of counter trend move I'm not referring to it as bottom bottom bottom That's not what I'm saying and I don't see any other signals Really on the other intraday time frame So I don't know that the 65 minute chart is going to hold But you're trading below key levels of support really across the board the exception being the monthly time frame And you've got those parameters. So Nicholas. I hope that helps you out Thanks so much for writing in and we'll look forward to your next requests So we get back to this break folks that we've been through all the questions that have come in by email So that's a beautiful thing. We'll just do a review of I suppose what to be looking for for the rest of the trading day See roads with tfnn. 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That's 877-518-9190 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 dance tfnn.com then hit watch tiger tv Welcome my back folks. So what I thought we would do here is actually with this uh With this uh two minutes here is just to really follow along the theme of the nasdaq 100 since price is testing those levels of support You know, we didn't see the bottom signals on the interday time frame If we take a look at the instruments that make up or some of the instruments that make up the largest of the weightings here We can see that apple is trading below Well, both it's a february 24th swing point out there now that had volume of 141 million shares You only got 65 million today, but nonetheless, you're trading below that swing point We had the swing point from january 24th that had under 62 million shares So you continue to trade lower, but you're trading below support now You're trading below support from a daily standpoint, but you're trading into support on a weekly time frame And that's really the level that i want to be able to share with you, which is 150 94 We've tested that area, but that's a key level that needs to hold now What happens if price closes below that? Well, there is a rising trend line You can uh type this in on your screen there that would be the next area of support And if that level failed then we'd likely see you move back to 140 48 That's the bottom of it's a monthly profile out there now. I can hear during the next we've got about a minute left That's about it. Let's change over to a screen that looks at Oh boy Uh this So now you should see I hope you see it. Uh, you've got uh apple in the upper left We've really covered that microsoft still has its rogement dominicator and td9 count bottom Priced below the bottom of its profiles out here So may go back and test those lows would seem likely amazon We talked about amazon earlier, so we're not going to take a look at that facebook Is trading below the bottom of its profile without any kind of bottom pattern in place That looks like once move lower tesla's trading into its swing point from february 24th and into support That's the bottom of the current profile and a close below the bottom of that profile, which is 767 93 would suggest lower price Nvidia, uh, it does have a bottom signal, but it's trading into that swing But I don't know if it's with volume or not, but if price did close below below of 206 50 That pattern would be negated So we're not even seeing the signals here on the top eight instruments that make up about 50% of the weight in the ndx 100 To suggest that actually a bottom is in inside the nq Folks day two and your favorite polar bear david whites up next tom o bryan will take us home I'll be back with you on terrific tuesday. Have a marvelous monday folks