 The following is a presentation of TFNN. The Trader's Edge with Steve Rhodes. All 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 September 17th. The terrific Tuesday edition of today's Trader's Edge show. I'm your host, Steve. Perseverance Rhodes, who absolutely knows that Egypt should always be pioneers of our future versus prisoners of our past. Hope everyone out there is having a great day. How about we have an extraordinary one? Yep, let's have an extraordinary day and that easy way to do that. It's to always remember that life is happening for us. Not to us. That's right, when you and I make that one little two-by-four shift, it means we can find the good in every situation that gets tossed at us. Today, you and I, we're going to go check on the situation 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 on 877-927-6648. We'll go ahead and take a look at anything that you're looking at. Try to assist you there. If you can't call in, we've got you covered. Let those fingers do the walking. Send me an email, steve at tfn.com. Do it early though. Just deal with those internet service providers. You never know when the email is going to come and hey, for you to go ahead and send in a question, wait, and then it comes at the end. And inside that subject, if you'd be good enough to put radio show question, that would help as well. Of course, in our Tiger's Den, well, any ping will do. So let's go ahead and get this show started on terrific Tuesday. Of course, this is Tiger, Financial News Network. I'm Steve Rhodes. Welcome to Lush Show right now. The DOF 50 points S&P down to Nasdaq 104. Russell's off 8. Semi-Zerov 1. So kind of flat-ish type of markets out here. But the first request, we had a request that came in at about 10 o'clock this morning. So that was when I was filling in for Larry, who I believe is back tomorrow. But I've got another email that came in here asking about the same instrument per se. This one's coming in from Victor in Portland, Oregon. So let's just simply go straight to that question. Of course, we've got plenty that we can look at. But of course, I want to be looking at what you want to look at. So let's go to Victor. Victor writes in, hey, Steve, thanks again for your help. Last month's profits paid for your yearly newsletter 10 times over. Well, I like that. I'm looking at UNG as it runs into resistance in a leg D. OK, sounds like a basil follower. And running into the 200-period moving average for shorting it using DGAZ for a pullback likely to fill the gap at 2180 in the UNG. What are my thoughts? So my thoughts are first, Victor, is ignore the gaps inside of UNG. Ignore them all together. So you've got the UNG. Now, the reason I say that is, well, probably be the following. Let's let me do this real quickly here. Here, I want to pull this over. I want you to understand, and you probably do, but it's really maybe not you, but everybody else that would be out there. And I want you to understand that it's so important to understand. I know I've used the word understand a couple of times. So shoot me. But it's really important to know, to be knowledgeable about what is the underlying instrument inside of UNG. It is natural gas, but right now it's two contracts. It's the October contract and the November contract. So it's October 19. It's November 19. They're about 50-50 share from a dollar standpoint. That is what's inside there. That being said, it's those two futures contract. These gaps inside of UNG are caused simply by catching up to what has transpired in the futures marketplace that may not have gaps. In fact, let's just simply go take a look. You've got the natural gas contract. So you've got natural gas. You've got the November and October. Let's use the October 1st. That's letter V, 19. I think I need to do an equals one on this one. So here's the natural gas contract. You'll wait to see the profiles that pop up. You're not going to see any profiles that are of significance because price is well above the daily profiles that are out there. So that's what the October contract looks like. And the November contract is going to look like this. Now, the point that I want to make here is that you don't really see much in the way of a gap. You did have a slight gap from the open on Sunday out here. But that actually was closed today. So if your thoughts are, even though I might not have the right days, that prices in UNG are going to pull back to fill some type of gap out there, that theory. Do not subscribe to that theory. Do not pay attention to the spy, the Q, the IWM and the Russell 2000 and take a look at those gaps and believe that gaps are going to be filled. That is not the case out there because those, the underlying instrument is taking a look at what's going on in the futures marketplace out there. So that doesn't mean that it might not be a short. But with regard to your target, well, in your targeting gap area, I don't think so. I think if you do that, I think if you do that and it happens, it's a coincidence. It's really about understanding the underlying instruments, which then takes us back to, hey, Steve, what are the underlying instruments doing? So for that, what we can do, because I've got the October natural gas contract representing 50% of what's inside the UNG. So we've got to see is there a topping pattern. And what we have right now, Victor, is a resistance pattern, not a topping pattern. So as you mentioned, you did UNG and you said that it was in Wave D. I'm going to believe you. No reason for me to go back there because my real focus for you is really not on DGAZ or UNG, but instead what's going on inside these futures contracts. Now, the natural gas futures contract for October coming off of the low out here from the trading day of August the 5th. If you do the wave count there, it's actually in Wave number 5, letter number E. Now, not that that's going to necessarily change your outcome, but you can see, therefore, if in fact, UNG is in Wave 4, this is in Wave 5, all of UNG's queues are coming from this and, of course, the November contract. So is there a topping signal or pattern out there? Well, when it comes to wave counts, what Stevie would look for, he would look for Wave number 7. That would be letter G, the market singing the key of G. We're not there yet. What else would we look for? Well, we could look for a TD set up nine count pattern. Today is likely to be bar number 7. We know that if there's a high in that pattern, it's not going to occur on bar number 7. The valid pattern would be on bar number 8, 9, or 10. So what this would suggest to you, Victor, is with regard to your short trade, whatever vehicle you might use, today is not the day. You'd at least wait for tomorrow, maybe the following day, maybe the day after that out here. So granted prices stalled where it should have, $2.71. That was established by the most recent breakdown in natural gas. Now that most recent breakdown, when I use the word recent, somebody might think like yesterday, no. I'm referring back to April in 2019. There were nine consecutive closes where the close of each bar was below the close of the bar, four bars earlier. I know it sounds like a lot. But it's not a good enough reason to break down that sentence, and it's relatively easy for you to monitor and to track. We pay attention to those nine counts. One, because they can identify tops and bottoms. Two, because they offer us breakdown and break out, support, and resistance levels out here. So prices made its way up to a resistance level. For me, that's not a good enough reason for you to short. A topping pattern in natural gas would, I think, be the indicator bottom. We're not there yet. So don't pay attention to the gaps in UNG. And I don't see a top just yet inside of natural gas. Steve Rhodes with TFNN. We'll be right back. If you're not currently using the TAS Profile Scanner when looking at setting up your trading opportunities, then your arsenal is short a muddy weapon. The TAS Profile Scanner is a standalone piece of software that instantly filters over 2,500 global financial markets for stocks, ETFs, commodity futures, and forex. Heated by Steve Dahl, TAS understands that in today's technological world, the use of top-flight software applications and technical analysis expertise is essential to successful trading in today's market. You also gain access to the webinar that Steve Dahl and Tom O'Brien just hosted, the best way to use the TAS Profile Scanner to profit. This webinar archive is available for all subscribers immediately upon signing up. All new subscriptions also come with a 30-day money-back guarantee so you have nothing to risk. Start your subscription by visiting the front page of TFNN.com today and you'll find the TAS Profile Scanner under the Services tab. Sign up today. Are you in the market for buying or selling real estate in the Bay Area, including the surrounding St. Petersburg, Tampa, and Clearwater markets? 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You can test drive the Tiger's Den absolutely free for 30 days, and greatly enrich your knowledge of these markets and how to make your money work for you. Details on the Tiger's Den are on the front page of TFNN.com. Check out our home page with a much simpler navigation, whether you're watching Tiger TV live in high definition or just accessing your newsletter subscriptions. We even have new pricing in six months and yearly options. Check out the new TFNN.com now and experience all the upgrades. TFNN.com, educating investors. Welcome back, folks. Inside the Tiger's Den, John asked us if we could take a look at the Great British Pound. John, the chart that I'm looking at has a 15-minute delay. You've got the live chart. I could go to the futures contract, but I was just going to stay with the currency pair for the time being. Sometimes the numbers can be different. When we take a look at the currency pair and what John is looking at doing is booking a gain. I never have a problem with somebody booking a gain. That's a beautiful thing. That's the name of this game here, booking gains. Now, if we take a look at the 60-minute, 120-minute, five-hour and daily timeframe chart, here's what we know. You've got green shoots across the board. As you know, it's taken out of prior high. I know that's what you're also looking at out there. But at this stage here, everything is above resistance, at least on the short-term timeframes. On the daily timeframe, what price has done is it's moved up into the center area of the weekly profile. Now, the weekly profile center of its box is 1.2499. And it's bearish in structure. So, let's do this here for John. I'm not trying to impact his decision. I'm just simply trying to provide him with the information to go ahead and decide what it is that he wants to do out here. Now, what I want to first do is turn off price Okay, there we go. And this works perfect. So, John, what I want you to notice is that this is a bearish-structured weekly profile. So, you and I, we're just focusing in on the green lines right now. I don't want anybody else looking. I'm just kidding. Now, the center line is closer to the top than it is to the bottom. So, it lets us know that between a buck and a quarter and buck 26, this is where we have predominantly sellers that are lined up. But my experience is, if you can see a close above 1.2499, not by a couple pips, but a decent amount, what you should get out of there is that move to 1.26. So, you're looking at a current chart out here. You can see prices struggling where it should be a good reason to go ahead and take the profits, especially knowing that you're moving into a bearish-structured profile out there. But again, maybe it's a trailing stop. Maybe you're taking some off because, you know, look, again, I would say this, a close above that 1.2499 level, you're likely to get 1.263. Of course, with the Fed coming out and, you know, you're really not sure what kind of gyrations you're going to see during the first hour or so of trading out there. If I look at the daily time frame chart using Stevie's other tools, well, our price projection for a countertrend move inside of the Great British Pound was 1.2523. And that's representative of the last time. That's the breakdown level on a daily basis established by those TD set-up nine counts. Now, what we know is that the support level that was also established by a TD set-up nine count of 1.2051 was tested and rejected twice out there, both on September 2nd and September 3rd. And for somebody looking to get in on that trade, that was your signal that at least your back was up against the wall with regard to support because if price closed below support and it took the long position, you'd say, okay, something else may be going on. I'm out of here. There is an active TD set-up nine count right before the breakdown level of 1.2523. Oftentimes, and I don't know what today's candle, I don't know where it's going to finish. That's the problem. But if it does close below 1.2523, oftentimes, not always, a significant portion when you get a pattern, a topping pattern such as this one that completes before the breakdown resistance level, that's a good indication of a turn out there. So you asked for the data. You got the data. Nice trade out there. And hope all that information assisted you with what it is you want to do next. So thanks for asking and writing in. Let's take a look at the next question that has come in. This is great. So keep them coming, folks. Please keep them coming. Best for me to do an hour where I'm answering the exact questions that you want to answer, providing you information as to what the markets are doing. So John here in Sarasota, he writes in and says, hey, Steve, is AEM, Agnico Eagle. Let's get the charts up here. Is AEM and the rest of the Goldstocks going higher soon? Higher soon. Let's take a look at AEM. And let's take a look at AEM and let's see what it is that we know. Right now, prices are below the daily box. They got below there a few days ago. That box level is 5723. Both support, my apology, both the bottom and the centerline of the box are at that same level, 5723. So John, the very first thing that needs to happen for AEM to go higher is old support, which has now turned into new resistance, must stop becoming new resistance, meaning you need to see it close above 5723. If it doesn't close above 5723, no, AEM on this chart would suggest to me and you that it's headed lower. Now headed lower to where? Well, from a profile perspective, we just simply come back to the next level, the next higher level. That'd be the weekly timeframe. We can see it's trading within the profile, bullish structure of this profile. And this would suggest that prices had to do somewhere between $52.59 and $53.95. That's $4 less than what we're trading right now. Inside the monthly timeframe chart, we don't see anything here that looks significant. But at this stage here, everything is pointing to a further pullback in a Nico Eagle as of 1.24 in the afternoon. By four o'clock, if it closes over the 5723 level, well, then that's a different story and there's at least a rally or countertrend rally that could or should unfold, taking you up to 6032. Now, here's the problems. I'm just seeing this as I look over to my other charts. Let's look at the monthly timeframe chart. The monthly timeframe chart shows what? It shows that last month was bar nine of a TD setup nine count. Now, what you and I know is that when a turn takes place, it can take place on bars eight, nine or the bar following bar number nine. The last time on a monthly basis that a Nico Eagle made a TD setup nine count was the month of July back in 2016. There was a slightly higher high in August of 2016, but that set up the downside move. That set up the top. And what did price do? Price pulled all the way back to support, which happened to be the top of its monthly profile back then. And that was in the 3970 level. Eventually made its way down to the centerline where both buyers and sellers were. That was a bullish structured box. And that's what held as support in the 3270 area. Now, fast forward to where we're at. How is this going to play out? Last month is bar number nine. That count is already in there. Will this pattern repeat? Well, John, if this pattern repeats, then no, AEM isn't going higher anytime soon. Now, when I say anytime soon, maybe it makes a higher high in September. I don't know. Doesn't look that way because price is struggling just with the bottom of its profile out here. And you've got a valid topping pattern. And you've got a potential rows of momentum indicator top on a monthly basis. That would be assuming that you get a bearish reversal candle, which we don't have as of 1.26 in the afternoon on September 17th. Well, we might on September 30th or whatever the end of the trading month is from a trading day standpoint out here. This would suggest the market pulls back to 35.12. That's at 57.21 right now. So that's what the monthly chart is communicating to you and I. That's why we don't just rely only on our market profiles, but we use Stevie's other tools and data out there. We come back. Let's take a look at the daily timeframe chart out here. Even though it shows yesterday is day eight and today, which could be day nine, it's not a valid TD set up nine count bottom on the daily timeframe. We'll be right back. I've 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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For more information just click the Think or Swim banner on the front page of TFNN.com Come back folks so we're taking a look at Niko Eagle before we went to the break out there and taking a look at the daily timeframe chart out here what we can see is a key level of support broke a couple weeks ago. That was 5863. This would suggest that its next move is to the downside which is 4985. Now AEM along with the other mining equities they're going to move directionally speaking for the most part in the same direction as gold out there. So really in answering your question John the only way for us to truly answer that we must take a look at how gold is trading and we must understand how gold is trading in all of the major currencies. So for example right now gold is lower in terms of pounds and in terms of euros. It's higher in terms of yen and U.S. dollars. It means that everybody has not gotten the memo. And when some instrument like gold is going to move higher everybody needs to get the memo. Otherwise you've got one person that's a buyer and we can clearly see who is the seller so to speak out here. Now in the case of Goldilocks the positive today is that there's a brand new profile that formed last week. It is a bullish structured profile and here it looks like we may have a second day in a row with a close above $1500. That's the centerline of the box and this says you could easily see a move up to $1530. Now what happens at 1530 20 that I don't know likewise that's the likely outcome. Let's take a look at the unlikely outcome. The unlikely outcome is that you see a close below $1493 10 tomorrow. And if you see a close below that then the answer is $1530. Now let's take a look at the unlikely outcome. If you see a close below that then the answer to your question with regard to the mining equities is no there are nowhere near going higher and instead will continue moving lower just as gold is if it breaks through nothing more bearish than a failed bullish pattern and if we see a close below $1493 10 that tells us we're headed lower. Now in the case of Gold the lower levels I've got several of the other mining equities moving higher because if Gold's going to move up to 1530 20 and I can't guarantee you that it is that's a signal right now is 132. Of course we'd like to know what the signal is tomorrow at 132 so we probably ought to take a look at that. But at this stage here I don't want you to get to you know the normal move I'm telling you this a day and a half ahead of time. As we speak would be a move up to 1530 and then perhaps the sell from that point forward out there. So that's Stevie's take on what the charts are communicating to you and I about Gold and AEM specifically. So John thanks so much for writing hope that helps you out. Next question up and hey I need more so please fire away your questions Ray and Sarah oh great Ray and John ought to get together but Ray says hey I own Carbo Ceramics Inc. CRR is the ticker symbol. So let me actually get that going on my other charts out here and we'll pull that over on our TAS market profile charts are three time frames daily weekly and monthly which by the way all look very bullish when I say that I'm telling you that price is trading above resistance on the daily weekly and the monthly time frame let's finish reading Ray's question and we'll move okay well with a regard to a profile standpoint we can we can just negate those there's nothing out here for resistance and taking a look at the and taking a look at those time frames sorry I got a nice cube in my mouth wasn't intended to do that but it slipped right in there. Now here's the beauty take a look at this Carbo Ceramics makes a bottom rose momentum indicator bottom TD clear is its first level of resistance that was about 27 once you clear resistance it tells you about a change in trend more specifically once you get above a place where price broke down a change in trend specifically for that time frame which is daily price makes it above the other two levels of resistance to 42 out here and so where's the next level well let me have it drawn on the chart for us right now let's do that and let's add this for the heck of it and so we'll see that the next level of resistance out here is three and a quarter now today's going to be day number eight of a TD set up nine count that says Ray that it's very possible that today tomorrow or on so Tuesday Wednesday or Thursday you could see a high watch that 324 level if if we get the TD set up nine count and it's below that area it's a little bit like we took a look at the great British pound chart out there at a minimum it would say to increase your stop whatever that might be so 324 in the daily and 459 would be your next levels of resistance you just have to be careful about the potential TD set up nine count pattern that is forming all depends upon tomorrow's bar the weekly time frame chart out here which also had a roads momentum indicator bottom so that's a beautiful thing creates that nice morning star pattern this I don't know what your time frame was when you were trading so the daily may just be a bit of noise to you if you really focus on more of an interim or longer term trade out there and then what that does just says okay I want you to be able to be aware of a shorter term topping pattern coming from the daily chart and to repair yourself for some kind of retracement but here you've got a solid bottom on the weekly time frame I don't know where you're in but this says 364 is the breakdown resistance level for it and then let's move on to the monthly chart what was the monthly chart doing or signaling to Ray in Sarasota and for this I think we probably need to pull it back a bit and it too was making a roads momentum indicator bottom signal and here on the long haul is 942 so there's your Carbo ceramics review both daily weekly and monthly and I hope that turns out to be a nice trade for you Ray thanks so much for writing in okay so no other questions the Tigers then Ruby wants to take a look at cattle so feeder cattle live cattle that sound okay to you Ruby but I'm just looking here so what I've got is the is I've got the the October contract help me out here because I don't trade cattle to know I think that's the active contract out here I'm going to go with the essence speak as if it is and we're taking a look at live cattle out here and hopefully this helps a Ruby but if it doesn't she'll go ahead and type something in there and she'll set me straight but here's what we do know about the chart for live cattle and for the specifically for the October contract out here and we can see is there's a brand new weekly profile form this week out here it's bullish and structure and that would really say we're going to see a price move above ninety eight fifty six a close above ninety eight fifty six now it's trading with inside the daily profile and it's a fairly narrow range when I say narrow range I'm referring to ninety seven sixty nine and one hundred point five five out there so it's really just consolidating looks like it has a bottom I don't know if I well I can try I can try let me see do I have live cattle on Stevie's other chart for October I don't bummer sorry about that Ruby I'll try to get that over there just so we can look at it but at this stage here what this looks like to me is you got a consolidation between the price we talked about ninety seven sixty nine one hundred point five five above a hundred bucks you're headed to one oh three seventy two Steve Rhodes with TFN I these guys want to hear from you give us a 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traders and active investors distributor four-side fund services LLC don't forget you can listen to TFNN live on your mobile device 24 hours per day go to TFNN.com then hit watch Tiger TV that's TFNN.com then hit watch Tiger TV for the latest market information welcome back folks sorry about that welcome back so let's go to our next question out here and please keep them keep them coming this is from Tony in Philly Tony thanks for taking the time to write in Tony says hi Steve could you review XBI for me I've been waiting for the price and red line to catch up on the daily time frame also is this week nine of a TD nine count I'm looking for an entry and he's going to trade LABU off of the XBI chart out there so let's first answer Tony's questions out there been waiting for the price and the red line to catch up to each other so what Tony must be looking at here is this chart here on a daily time frame so Tony the first thing and I apologize I don't mean to to critique or anything like that but instead really to share so I don't if it's the daily time frame and it may not be so we're going to go look at the daily and the weekly and the monthly just to make sure but as I take a look at the daily time frame the current oscillator and change line is red and so there's no reason for you to necessarily wait for price to come back there other than that that's a level of support and maybe that's what you meant as you're just waiting for you view you're using Stevie's oscillator and change line as a place to buy and so then I get it and the reason why I bring that out is that when the line changes color and prices away from the line when that is happening we then wait for a test of that level out there and in essence that didn't take place out here on August 3rd the line changed from green to red but at that very time the candle was testing that area and that was a bearish message out here and of course price continued to move lower so hey as an entry point there's no problem pulling back to support that's one level of support if you're thinking I was going to pull back there because the price I said regarding to zero that's not what I see on the daily time frame okay no it is not a TD set up nine count week nine you said week nine see week nine is what you said so now I got to go over to the weekly chart but on the daily time frame chart it is also only in day seven of a TD set up nine count so what Tony had to do was sit me upside the head with a bat which he did and so now let's go take a look at the weekly time frame now the case of the weekly time frame same situation out here by the way the weekly time frame shows a TD set up nine count bottom and that formed three weeks ago so let's go over that let's take a look at this so here's the weekly chart so the week of here's where I want you to take a look at Tony the week of July 19th was a close below the close four bars earlier one two three four here's the bar which is July 20 June 21st out there you can see the close versus the close of bar number one that's why I got bar number one and each of those other weekly bars they were successive closes where the close of that bar was below the close of the bar four bars earlier now what happens is is XBI the week of September 6 makes bar number eight setting up that potential of a TD set up nine count we don't know what the following bar will be and it's doing that as prices approaching the level where it had broken out so if you were looking at the weekly chart what you would have wanted to have known was that the TD set up nine count to the upside which began back in January of 2019 that is what set up your level of support or your breakout area 7684 now what was really interesting last week was it did form bar number nine but bar number nine was below was above bar number eight now what I'm noticing here in the TD set up nine count I can't verify it just yet but let's get on a little secret this won't be a secret anymore I'm noticing that when the TD set up nine count it doesn't mean that the other patterns aren't valid that there seems to be a stronger more reliable turn and that's the thing I can't guarantee it just yet it's more reliable I'm working on some software to do some testing to see if what I see is the reality of what really takes place out there sometimes we see what we want to see and I just kind of like to master probability so to speak it's how I came up with the 50-day exponential moving average just by doing lots of testing out there on the spot volatility index and what it means to the market generally speaking out here so the mere fact that XBI made a higher go on bar number nine is a strong move and what this says to me Tony is that we should see price make its way up to 8770 at a minimum 8770 that becomes its resistance point let's just for the heck of it for blanks and giggles you can fill in the blank out there that's how we like to play this game you fill in the blank that way it keeps me you know honest so to speak out here we look at the monthly time frame chart so the monthly time frame chart forms a TD setup nine count top interestingly enough bar number eight was the high there was a little bit lower low back here in the month of July of 2018 price then moves through one level of support the breakout level support was 7846 it makes its way down to the second level of breakout support like to the T and that T was $64.30 out there so you had a couple different levels to be buying this would say that prices likely had it to 8899 so I think we've got a couple of the 88 out there 8770 8898 looks like where prices headed to now will the daily TD set up nine counts give you a nine count and then a pullback maybe to Stevie's red line perhaps it will longer term so you've been watching this for a period of time I don't know what that period of time is but make sure that you are and it sound like you were looking at the weekly chart maybe your counts might not be lined up and you know send me an email send you copy the weekly chart so you can go back and you can compare that to the work that you're doing out there maybe to assist you with your trade so Tony thanks for writing in I hope that that dissertation helped out with regard to your thought process thought process out there okay so no other questions none in the Tigers then and none here by email and I hope that you have a good time and I hope that you have a good time and I hope that your lines are open so what are we going to do next what should we do next first let's go take a look at what's going on inside the market again the mere fact that it's positive S&P is basically flat NASDAQ the NASDAQ is really going to watch out here kind of take our P's and cues and I don't even know what our P is out there but take our P is worth the price higher price unstoppable higher price now I'm just being facetious about the unstoppable piece of it the reason why I say that is because of that console you're looking at panel number 2 and just look at the beauty of a consolidation pattern if you and I were going to write the book on a consolidation this is this is one of the charts we would use right now consolidation, the solid rectangular yellow box area. Beautiful consolidation. And then we would say, hey, you know what? If price breaks the consolidation to the upside or the downside, we know what the measured move is. It's equal to or greater than the consolidation. Because price broke out on September the 5th, that was our first indication that we might have a real break. Now you don't really know if you have a real break out of a consolidation unless price comes back and test the top of that consolidation. And that is exactly what happened on September 10th. It happened again on September 11th and it happened again yesterday. It is telling you and I that this is a real break of the consolidation. Yes, there's resistance, 79, 73, 80, 54. And once it clears that, 82, 15. That's the consolidation message of the NQ. I don't know how the markets are gonna react tomorrow. Be right back. Since 1984, Basel Chapman has been using the Chapman wave methodology to advise traders of his expert market opinion. While originally hand drawing charts from the late 1970s into the 1980s, Basel noticed that prices under most circumstances virtually always had a certain number of legs to the upside before declining sharply. Later, Basel found that computer software which included the standard market technical indicators enhanced the degree of accuracy in calling price turns as well as market trend calls. Thus was born the Chapman wave sequence. Using the Chapman wave methodology along with other indicators, Basel 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, Basel's daily trading newsletter by visiting the front page of TFNN.com. Cancel at any time during that trial and pay absolutely nothing. Get your two week free trial and Basel's newsletter the opening call today by visiting TFNN.com. Tom O'Brien will be hosting a special 60 minute live webinar Wednesday night for gold report subscribers titled the next leg up in gold is $1,794. Find out why. In this 60 minute webinar, Tom will be discussing how the bond market moves the gold market, where the gold demand trends are coming from, how gold outperforms fiat currencies over time, how gold trades an average of $110 billion a day in value along with many more topics. Subscribers to the gold report just closed out three positions in the last week for profits of 28%, 35% and 51%. Now is a great time to sign up for the gold report. You don't wanna miss out on the next big run in gold and gold equities. Sign up now for the gold report by visiting the front page of TFNN.com and get ready for Wednesday's live webinar with Tom O'Brien. New subscribers get a 30 day money back guarantee so you have nothing to risk. Sign up today. You know what's cool? Taking something that's good for you. 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Click on the primal edge banner on the front page of TFNN.com. This is David White. Stay tuned because coming up next is the power trading hour right here on TFNN. Welcome back folks. So no questions that are in play right now. So why don't I just do this? Let me go back to, so as I was getting ready to come on the air, logging into the den and getting my system all set, I was writing some things in the den. I just caught the very end of Basil talking about gold and the dollar and so forth. And so here's a quarterly chart. The top panel of the chart, and this is in preparation of what is to come, I would say within the next six months or so, what to be watching for. So here is a quarterly chart. The top panel is a Dow. The center panel is gold. The bottom panel is the dollar. Now it's a line chart, quarterly basis. That means we're looking at quarterly closing prices out here. So I'm not looking at the daily. I'm not trying to get this exact to the T. I'm really just trying to prove a point out here because the point that I want to prove flies square into the face of what others have told you. That's why I want to be able to share it with you. So use as your starting points where the intersection of this vertical and horizontal blind, so to speak, the blue line, the blue and the red where they're meeting up. So if you take a look at the US dollar index, which effectively bottomed during the first quarter of 2008 in the 72.16 level on a quarterly closing basis, if you take a look at that compared to where it's priced right now at about 97.76, it's been a 35% move higher. Now of course the Dow is substantially higher. I don't actually, from that point to about where we're at right now, it's been about an 83% move higher. And gold, by the way, if we take a look at the gold bottom along with the Dow, actually I think for that, what I was using was right back here. No, I was using the 2008 low. I was using the 2008 out here with lining up. And what we had was gold had a move of 129%. So in that same time period, the Dow was up 83%. Gold was up 129%. The US dollar index was up. We're going to see this during that next big bull run in gold and the stock market and the US dollar all moving higher at the same time. This is the game in town, folks, right here in the good old US of A. They have a great day.