 is a presentation of TFNN The Trader's Edge with Steve Rhodes, toll free at 1-877-927-6648 or internationally at 727-873-7618 The Trader's Edge. Now, Steve Rhodes. Good afternoon, folks. Welcome to the terrific Tuesday, the October 19th 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 make sure we have an extraordinary one of the easiest 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 a 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 out 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 at just past one o'clock in the afternoon. I want you to know I'm absolutely grateful for your presence here. But more important than that, that's this. 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, hey, we've got you covered there, too. Go ahead and send me an email. Send it to Steve at tfnn.com inside the subject. And if you'd be kind enough to put a radio show question, and of course, in our Tigers Den, well, any and every 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 less show right now. We've got all the U.S. indices trading to the upside. The Dow is up by 167, the S&P 31, Nasdaq 101, Russell's up 15, Semi's up 40, Trinity's up 27, the New York Stock Exchange up 122 points, Gold's up 3 bucks, Silver up 63 pennies like to be crude, up a buck 18. Oh, boy, what is going on with that system? Sorry about that. I see you guys are looking at a blank screen. That's not going to help you out a whole lot. Stevie will get this figured out. Remember, that was happening for you. That screen was to tell you, hey, maybe go take a jog along the ocean out there. I guess that's what it was talking about. But now you can see what's going on. You got the spot politics up 55 pennies. Well below its 50-day exponential moving average, always puts the wind at the back of the S&P 500. Lead the charge dollar wise to the upside. We've got Shopify, that's 29 bucks, Mercado Lube, 15, ServiceNow 15, SolarEdge 15, and Google is up about 15 as well. To the downside, it's all the beauty. Now it's 6.5%, 26 bucks, ATA Pharmaceuticals 25 bucks, 62%. Yikes. Booking Holdings down 25, Silvergate Capital down 19, that's 12%, Amazon off about a half percent, or around 18 buck runes. So let's begin by, what do we want to do? Let's begin by trying to change screens here again. Let's look at the eight panel charts for the equity future contracts out here. They're going to have different messages for different timeframes, but that's okay. We'll take a look at each of those. So let's begin by taking a look at the EES mini. Okay, we've got that going. So what do we know? We know if we take a look at the very left-hand panel, that's the monthly timeframe chart priced above that green oscillator and change line, $4309, even though it has a confirmed rogement and indicator signal from last month when it generated a bearish reversal candle, the signal is really neutral to bullish out there. Price has to close below that green oscillator and change line to suggest at least some further retracement out there. Much like the weekly chart, price is below the oscillator and change line. Very likely price is going to go target that 4553 level out there. If we look at the daily timeframe, today is going to become bar number four. It isn't an A to B equal CD pattern. It's not shown here. It'll be shown on my other charts out there. So that looks bullish. We take a look at the 30-minute timeframe chart, attempting to form a dark cloud cover. It's only 110. It's got 20 more minutes to go. Price is still holding that green oscillator and change line out there. Price were to close below that level. That's about the 4507 area. That would suggest a pullback to 4502, perhaps 4497, even 4494 out there. But that's not going to take place unless price closes below that green oscillator and change line. But look at a 60-minute chart. Let me pull things back just a tad of potential for a topping signal over the hour. But that won't be until about two o'clock. The 120-minute chart says, I don't know what you guys are thinking. I'm moving higher as does the 240, as does the five-hour timeframe chart. So what this is really suggesting here is intraday. 30-minute and 60-minute. We might have a little bit of a timeout. But the other charts are saying, don't get too caught up into that timeout because price wants to continue to move higher. That's the message for the ESMini. Let's go take a look at the message of the NQ out here. Take a look at the NQ charts. Yep, this should be it. In the upper left-hand corner, as soon as this populates, you'll see a TD9 count, a Rhodes-Mittem indicator top on a monthly basis. That was for the month of September. However, October said, I don't know what you guys are thinking about. Because I haven't closed below Stevie's green line. Therefore, its message is neutral to bullish out here. The NQ, much like the ES, in the case of the NQ, it's got a confirmed Rhodes-Mittem indicator top. Price moving higher. That's what the daily timeframe tells me. Where's the price target? Well, on the weekly chart, it says about 15, 582. That is the oscillator and change line. There's an A to B equal CD to the upside inside the NQ. So if there were to be a bullish or bearish reversal candle, that would confirm a Gartley sell pattern. But short of that, price will continue higher. We're in day number four of a TD9 count. So we're ways off from that taking place out here. Much like the 30-minute chart for the ES, the NQ also attempting to form a Rhodes-Mittem indicator top. And if it does that, price should find support at 15, 347.75. The 30-minute chart has a bearish structured profile. Price closed above it a couple hours ago. That is a very bullish signal. On any kind of retracement, counter-trend type move, where price typically finds support, is at the center of a bearish structured profile when price is closed above it. Now I know that's a mouthful. Hopefully I said it correctly. I believe that I did. And that says 15, 347 should be support on any kind of a pullback. 60-minute chart says, eh, don't know what you're thinking. Maybe 15, 359 would be support. The 120-minute, just like the 240 and the five-hour chart. So very much like the setup on the ES says, hey, maybe we have a little bit of a intraday pullback out here. But don't get too caught up into it because the other charts are saying don't want any part of that as they want to continue to move higher. Let's go take a look at the Russell 2000 equity future contracts out here. Now, in the case of the Russell 2000, she's just in one big consolidation sideways. All you have to do is really take a look at the weekly timeframe. You can see that sideways movement. You're in a sideways movement. These are difficult markets to trade in. The Russell even more difficult, I would say than the others out here. But what kind of signal do we have? Well, if we take a look at the five-hour timeframe chart, it's got a TD9 count top of this in place out here. Price would need to take that high out, that high out that it would need to close above. This is on the five-hour timeframe chart. To get its bullishness back would be 2293. Got a TD9 count on the 240. This is suggesting, now this is in a bullish structured profile. And this is really suggesting that the Russell 2000 wants to make a run to the 2298th level. That's the top of its profile. The 120-minute timeframe chart says 228640. That's a key level of resistance. Other than that, I don't have anything else. Let me pull the window back. So on the 30-minute chart out here, there was an A to B equals CD pattern. That form, it completed at 8 o'clock this morning. And Price did what it was supposed to do, which was pull back to its breakout level. That was at 226090 out there. So support has held. Real quickly, before we go to the break, let's put up the Dow Equity Future contract charts out here. What do we have? We've got no topping signal at all on the monthly timeframe. We don't have a topping signal on the... What we do on the weekly, there was a Rosemont Demindicator top. And any close above that high, that high being 35547 says it's off to the races out there. Now remember, the races would be the top of the consolidation. And it's the Dow that's going to be the first one or should be the first one up to the top of that consolidation. Not shown on these charts. I've shown those to you pretty much each and every day. I'll do that again. But first, we get back to this break. We've got a couple of questions that have come in. I want to go ahead and get to that. Those are coming in from Hector and Michael. Steve Rhodes with TFNM. Love to hear from you as well. We'll be back in just a few. 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 in his Mastering Probability Newsletter. Steve's award-winning newsletter, Mastering Probability, is delivered every trading day with updates throughout the afternoon. Sign up for Steve's market newsletter, Mastering Probability, and you'll receive access to seven of Steve's educational webinars absolutely free. At TFNM, all our newsletters come with a 30-day money-back guarantee, so you have absolutely nothing to worry about. Visit TFNM.com and try Mastering Probability 30 Days Risk-Free Today. TFNM Educating Investors. What's separating you from the most successful men and women on Wall Street? That's right. Information. Having all the information gives us the perspective we need to place the right trades at the right time. The Test Profile Scanner is the premier market-profile-based scanner. Powered by its acclaimed task-proprietary algorithms, this feature-rich scanner instantly filters over 2,500-plus global financial markets, such as stocks, ETFs, commodities, futures, and forex. This powerful suite of tools leverages instant trade filtering and strategy formulation to show you emerging trades before they happen. For a limited time, you can save $100 off your first month by using the promo code UPGRADE and you still get a 30-day money-back guarantee, so you have nothing to risk. Level the playing field with the Test Profile Scanner, which you can find under the Services tab at TFNM.com. Sign up today. It's like getting better at playing a musical instrument. You have to practice, sure, but you also need excellent instruction from experts. At TFNM, you'll get advice and guidance from the authority and technical market analysis. And it's not just dry, tedious text, either. TFNM airs live, financial content streamed live on TFNM.com and TFNM's YouTube channel with Tiger TV, live every market day from 8.30 am to 4.00 pm eastern. For free, each host is an experienced trader and gives their take on the market while taking calls and questions live from around the world. From the moment the market opens until the closing bell sounds, Tiger TV has eight different shows with expert hosts to help you make the right moves with your money. Watch online at TFNM.com or on TFNM's YouTube channel and become the investor you were born to be. All now, toll free at 1-877-927-6648 internationally at 727-873-7618 Folks, so we've got a call around the line. Let's go out to Brent in Martinez, California. Brent, thanks for calling. How are you doing today? This morning? Oh, I'm doing great, Steve. We have a beautiful fall day here. Got a nice little bike ride and I thought I'd tell you. Ah, perfect. That's great. So we're going to take a look at what's going on here. It's a safe, limited trading right now at 817 above the top of its daily profile. Tell me what you're doing here and how I can best help you. I can't take credit for finding this one. That was somebody else. I didn't email you or I believe that's how it was done. It was a few days ago. It's a team effort here. It's a team effort at TFNM. Yeah, so I bought into this this morning at the open. I just bought calls, $8 calls. I've been in this for, you know, stuff to watch the upside. And I know if you have a gap there that looks like around mid-August, it came down with some volume. But just you have to take a look at it. Got it. Got it. So I see that gap that you're referring to. That was a trading session of August the 16th, folks. That this equity moved down with about 43 million shares. But the good news today, Brent, is that price is taking out a B point of an A to B equal CD. You're already at 4.7 million. You're already at 4.7. So this is going to confirm an A to B equal CD to the upside. Now, the retracement on this instrument was about a 0.382. The exact number was 39.32%. So a very shallow retracement. What this suggests to you and I, Brent, is that price will make more than a 1 to 1 A to B equal CD to the upside. I'm going to expand out the daily timeframe chart out here. And was that the daily? Yeah, it was the daily. How did my gap go? Interesting. This is strange. In any event, take a look at the daily timeframe. And this suggests to both you and I, oh, I know that was the, that day was the, may have been his IPO day, Brent, I think was August 16th out there. So I like this here. So the setup should take you to 8.78. But because it's only 0.382 retracement, more likely than that, 9.10 or 9.50 would be its target. So I'll just quickly set up profiles out here. Give me a moment to try to do that. That says 10.85 before you deal with resistance, because price is below that. So on this chart here with regard to the A to B equal CD pattern for the daily timeframe. Any questions about that so far? No, I don't think so. And then you can look on your white background chart. I think we're in 8.85, I believe, on the CD count. You are absolutely correct on this. Today should form bar number five. Brent, is that price is taking out or appears to be taking out its TD9 breakdown resistance level. And that's at 7.98. So this did form both a TD9 count bottom and a Rhodes Mentum indicator bottom. It did that about four or five trading sessions ago. So close above 7.98 here, Brent, would suggest that price move up to 9.07. So it's really falling in line with what we looked at on the daily A to B equal CD pattern. So this looks good out here. And it hasn't traded enough for me to get any clear signals on the weekly timeframe. So it looks like a great trade. It looks like it wants to trade higher out there. Is there anything else with regard to PSFE that I can provide for you? I think that too. I appreciate you doing that. It gives me some love to be watching. That's what I was looking for. As always, you came through with what I was trying to identify. You took care of it for me. I appreciate it. Perfect. Well, glad you had a good bike ride. I'm going to get mine in today at four o'clock. I'm going to turn nice down here. October is really, October, November is usually a great time. And I think we still have a breeze coming a little bit from the north. So I'll look forward to my bike ride. And Brent, I look forward to speaking to you again in the future. That sounds great. Thank you so much. Do you have yourself a great day and enjoy your bike ride? You bet. That was Brent in Martinez, California. We had a question come in from Hector and the fuel injectors. Hector wanted to take a look at AMT out there. Oh, we've got a caller on the line. My apology. We're going to go out here and they have priorities. So we're going to go out to Earl. Earl and Seminole, I believe. Earl, thanks for calling. Thanks for holding. How are you? Growling and prowling. Perfect. That's what we like to have our tigers and tigers is doing. And you want to take a look at Cummings Inc. I believe, is that correct? Yeah, CMI. Yes. So tell us what you're doing, how I can best help you. Looking for a possible entry. Possible entry. So you're trading above the top of its daily profile. That's a bullish sign. That's $238.48. It's trading right now above the top of its weekly profile, which is up at the $239 level. So this suggests that over time, what price should do is perhaps go target the top of its monthly profile. So your target out here, Earl, is going to be $269.35. Now, let's pull Cummings and get the white background chart, see if we can see any kind of topping signals or anything. And I don't have any such clue of a top indicator on the daily time frame. So what we can see is that two trading sessions ago, three trading sessions ago, this little Stevie green red line, the oscillator and change line change colors. So what that tells us is that over the coming sessions price and that line should catch up to each other. That would be a buy point. Now that line is priced at $234.13. As price moves up and down, that level will change, but that would be the first level we could look at on a retracement. Don't know if we're going to have retracement just yet. We'll continue to look at a 30-minute chart on a weekly basis. Out here, as I mentioned, price was trading above, slightly above the top of its weekly profile and it's also going to change that. Both of those two things would be a bullish outcome and suggest higher price. So the question is, do we see any kind of a top out here that Earl can get in some type of retracement? On a 30-minute time frame, it looks like bar number eight is going to complete at $131.30. And that says there's the potential for a TD9 count top that could form Earl buy between $2.00 and $2.30. And if it does, that could set up the retracement. There's been really small body candles out here, so I can't confirm just yet whether or not this TD9 count pattern is going to complete or not. It really depends on how price trades during the next hour or so, but that's got some potential and then a pullback. Now if price did pullback from there, this is suggesting to us that the TD9 count would be about 236 even Stephen. So we've given you two levels to look at 236 and 23413. Those would be the levels to enter into Cummings on a retracement. If you want to trade it as a momentum move out here, I'd still wait to see how this 30-minute chart plays out. But other than that, I don't have a better entry level for you to get into in Cummings Inc. Any questions about what I've shared with you so far? Yeah, I was going to ask you, what's the price that it might hit in the next 30 minutes or whatever? Well, no, no, no. So in the next 30 minutes, it might create a topping pattern. So that would be by 2 o'clock would be bar number 9. By 230, that's when the pattern should complete out there. But because these are small body candles, bars 2, 3, 4, 5 and 6, it could totally negate. The pattern may not form. I'm just giving you the best thing. If it does form though, that's what it would suggest that price could pull back to 237.48, maybe even 236. So that's your range right now for an entry into Cummings. That's exactly what I was looking for. Perfect. Let's see if the chart will behave and help you get that. Anything else that I could go ahead? Yeah, I trade Cummings a lot. And it seems like it has a real time getting over the area where it is right now. Well, so what I can share with you there is that, and you are right. So if we take a look at Cummings, on the trading day of October 14th, close above the top of the profile daily, that is, the very next day back below. That's why I've got this little 2-bar 2 consecutive closes above resistance or 2 consecutive closes below support to confirm that. So if you get another close tomorrow at the end of October 14th, this time will be different than the other times that you were looking at and suggest to run up to the 269 level. Okay, Earl? Thanks a lot, Steve. You bet that was Earl and Seminole. Folks would love to hear from you as well. 877-927-6648. We'll be right back. Are you having fun trading the markets but having trouble finding like-minded individuals to discuss your trading and investment ideas with? 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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 4.00 p.m. Eastern on market days. Stop watching on the sidelines while other people get rich and become the investor you were born to be. TFNN Educating Investors TFNN is excited about our new software charting program The Art of Timing the Trade Charts With Tom O'Brien and using his best-selling book The Art of Timing the Trade Your Ultimate Trading Mastery System David White has programmed an outstanding piece of software that will complement any trader's methodology. Using this first-of-its-kind program The Art of Timing the Trade Charts allows you to scan thousands of stocks for Fibonacci formation setups including guardleafs, ABCs, butterflies and much more. The Art of Timing the Trade Charts is designed to help you when scouring patterns that many investors spend days, weeks or even months searching to find. And right now we're offering licenses available at only $79 a month. We are so confident that you're going to love this new charting software that will even give you a 30-day unconditional money-back guarantee. 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. Hey October is the month of the Grand Slam. I'm not talking about Denny's breakfast or anything out there, but how about those Boston Red Sox? Three Grand Slams in just the last two days out there. Speaking of Grand Slams, we're going to go out to one of the guys in the Tiger's Den that hits plenty of Grand Slams and that is John Thanks for calling. Thanks for holding. How are you doing today? Uh oh, do we have John? You just appeared. Can you hear me? I can hear you just fine and I think you're calling about Lightsweed Crude and tell the folks what you're doing and how I can best help you. Steve, I'm calling to ask for your help navigating the rally phase Okay. Just by way of background traded higher prices Oh, I think it was November of last year. 76 and I at the 2014 peak Okay. We corrected we had a good setback and then a muckly muck sideways range, a good number of weeks and then of course we busted above that, the 77 mark that is. Yes. And Steve, since we moved above 77, I continue to trade the long side exclusively, always respecting the fact that the higher we go, the more prone we are to short term setbacks with two targets that I had in mind one. One was 81. That was just a fib 1272 expansion mark and then the next one was 8650 fib 1618 expansion mark. So that is what I've been doing with those target levels in mind. Most recently I bought it this morning or I traded it super aggressively intraday. Yes. On that sell off that simultaneous with the release of the industrial production data. Yes. I do not know yet whether the selling was precipitated by that data, but the sell off and that data release occurred kind of simultaneously. So here we are. We're back to the highs. Can you share with us and figures in looking for levels from which the crude oil might and suffer setbacks and the idea I'm looking for is to find numbers in my back pocket to use if I'm long to take profits against should we rally to them. Okay. Excellent. Excellent question. In regard to this morning though and a nice buy early this morning at about 7 o'clock this morning there was a TD9 pattern on this hourly chart that had formed that was indicating we would see some kind of a top. I imagine that those numbers were released at about 8 or 9 o'clock this morning. And we can see that what price did here folks so the 60 minute timeframe had the best signal for at least a short term top and then price pulled right back to where it was broken out from 8112 to 8127 so a nice move there price right now is dealing with the top of its 60 minute profile John it closed above it as we came up to the 130 timeframe and that top that profile just to be short term wise ought to be looking as 8270. So if we get to consecutive closes above that that is a positive but back to the bigger picture here and the bigger picture as far as levels to be taken to look at well first the 8650 level is in essence the high from October of 2018. So that is a natural place where you could find some resistance we're not that far away from that about four bucks or less than four dollars if price is able to take that level out. In the daily chart right now John there's a new profile that formed yesterday and price is trading above that and that's a very bullish sign now not just trading above it but closing above it. So a close today above 8236 would be a positive tomorrow another close above it would be a positive and from a profile standpoint what you're asking for if price can clear those levels then we'd be looking at 9141 and 9141 is the top of the quarterly profile now if I take a look at this in this very bottom right-hand panel chart that we're looking at folks we take a look at these quarterly profiles coming back into April of 2011 where price was just trading sideways within a consolidation where it ran into resistance was the top of that profile so we want to respect that 9141. If price can clear that John boy then what do we take in a look at out here you know then I'm probably just coming back into those 2011 type swing point areas in the 140-ish type range out there so that's what these before I pull over any other charts now go to our eight panel charts out here do you have any questions about these charts or any of the information that it's providing us. One question on those I'm looking in Tiger TV now Steve the profiles are those derived with the nearest futures just sort of counts for the fact that the lead contract has just rolled from November to December so the answer to your question is what this set of tools is showing us is my synthetic version of the contract where I stitch together each of those future contracts which provide us with clear longer-term profile levels to take a look at versus I understand right you have the question I understand go ahead yeah now if I just pull over the December contract which we've just rolled to on a daily timeframe there's no new profile or anything even in place here it's just an A to B equal CD to the upside says 8340 is next and above that 8730 so let's go switch over take a look at our eight panel chart out here and the reason we want to take a look at that is because this also provides us with information and the information here I'm going to open up now this is the continuous contract I can't do the same synthetic version on my Ninja Trader that I can on eSignal but that being set out here John and take a look at the longer term chart out here this topped with a TD9 count right around that July timeframe might have in fact been July but let me see when that exactly was so lo and behold that was July so as you had mentioned lights we crude rallied up into July where it hit some prior swing points backed off but the back off never broke any levels of support and now what we're dealing with on a monthly basis even though it's only the 19th is prices trading above that TD9 count that suggests the next higher level assuming that these other resistance levels that you have already identified fail then your next price target that's above the quarterly level would be 10609 and that comes from the monthly TD9 breakdown level out there any questions about this chart I got it Steve all very helpful thank you okay perfect so now if we take a look at the weekly timeframe chart out here this is going to become bar number 8 of a TD9 count and what we know is that bar number 8, 9 or the bar following 9 can be the high so we can also see that prices stretched meaning it's got a roadsman to indicator signal that has been triggered so what I would be waiting for here is some type of various reversal candle to confirm a short term top that would then take price back to 77 to 58 but in lieu of that price could continue higher for the next two weeks and not negate or create any problems with that TD9 count pattern any questions about the weekly chart nope it's all very good perfect the daily chart yesterday formed bar number 9 of a TD9 count price back off this morning in addition to the levels we looked at on the 60 minute chart right back to that green oscillator and change line and so that says well we're going to a heart break here John if you'd like to hold on you're welcome to I'll certainly finish up the review of the lights we crude charts that's your your option out there this is Steve Rhodes with TFN and with John and Billy and we'll come back and finish off take a look at light sweet crude are you in the market for buying or selling real estate in the bay area including the surrounding St. Petersburg Tampa and Clearwater markets Tiger real estate LLC is a firm that has extensive experience in the Tampa Bay area whether you're looking to sell your current property for maximum value or you're in the market for a second home or investment property Tiger realty has the experience across all areas of real estate in the Tampa Bay area to help buyers and sellers make the most informed decisions across all price levels from the price you should be paying per square foot in certain up and coming areas to the type of cash flow investment properties are capable of creating Tiger real estate can help you make the best decision when it comes to all areas of the market before you make one of the biggest decisions of your financial future called Tiger real estate LLC today 727-329-8322 or email us at tiger at TFNN.com that's 727-329-8322 call us today technology around us is changing every day with so much happening it can seem impossible to keep up with all the information David White's investment newsletter the technology insider is designed to give you all the information you need to understand the technology that shapes today's markets and tomorrow's future David White has made his living staying on the cutting edge of technology his weekly newsletter will give you specific recommendations for value tech stocks as well as entry prices, target prices and stops to set for each trade Dave delivers his weekly newsletters every Friday with updates throughout the week you can get the technology insider at TFNN.com for only $37.50 sign up for David's newsletter the technology insider and get an inside look at everything the technology sector has to offer. 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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 good back folks we got the December contract for lights we crew the daily time frame up on our chart out here we can see ever since price closed our bottom on August 23rd really was the trading day of August 24th when price got above Stevie's oscillator and change line look at how price just danced above it we've had one close below that level that was on September 9th but then the very next day price was back above it the reason to have at least a two bar confirmation of a break of support or resistance so John that's also and there's been two other TD9 count tops that have formed out here since that move each of them have just led to a sideways move a test of the oscillator and change line and then price simply resumed higher that first one was back on the trading day of September 3rd the second one that took place on October 6th and the third one really yesterday slash today so you're going to watch that oscillator and change line I would say John if you saw two consecutive closes below that level currently is printed at 8119 that would then be a signal of a retracement that retracement in this instance could pull back to 7467 so the daily time frame chart says we should anticipate some type of pause and sideways move as long as price holds that oscillator and change line then the resumption to those higher prices that we looked at should unfold out there so hope that that helps you out thanks so much for calling and he also had a question let me get over to a different set of charts out here let me get this screen thing all set up here and John had also asked about I believe it was conical Phillips COP if I'm not COP so let me get to my other white background charts out here get something going there so we'll get COP conical Phillips and also go ahead and get this pulled up on our black background charts just looking for those daily, weekly and monthly profiles so here we're going to see that conical Phillips is trading aware it's trading above the top of its daily weekly and monthly profiles so what is this channel line that I've got drawn in here on the weekly just curious out here John so can't remember when I last drew this but it's been a while because this has been manually drawn in there so you probably identified this as well so conical Phillips right up to its descending trend line so if you can clear that that would be a positive as well let's go see if there's any other signals on the COP charts as price hits that potential resistance we know it's a resistance level that's very clear the question is is price going to hold this level so as price has gotten up to that little trend line well John will like this I've got wave number seven that's letter G out here we know that that can be a top a price is triggered arrangement indicator signal that's not an issue unless a bearish reversal candle were to form out here so yeah this has potential signals that that was for peak G we used to be peak D but he was kind enough to change that to that seven peak out here so you're in that seven peak inside of conical Phillips on the daily time frame just as a be careful out here and as we take a look at that weekly time frame we populate it what do we have in the case of the weekly time frame price is also up in a resistance level it appears to be seventy four nineteen no it's above that so that's a positive but it's getting back to resistance which is let me get this is weekly chart give me a moment here getting back to the week of October fifth that was in 2018 so price getting back to those levels that's where price needs to clear eighty twenty four so your head up to resistance you got wave number seven on the daily time frame the weekly up towards resistance level you got the descending trend line out here so I'm just going to say as your pilot just simply fasten your seat belts out here not to exit the position but I would say what conical Phillips is suggesting is that the TD nine count that says at least a sideways move for it in lights we crude we should see maybe something similar inside of conical Phillips so hope that helps you out thanks much for the call again now let's get to Hector and Patty's question out here about AMT and as we take a look at that is American Tower Corp AMT right now this had formed a several bottoms out here Hector and Patty went long what you like about today's action so far Hector and Hector's question is basically can you provide revisit AMT what are the A to B equals CD patterns and anything else telling us out here so an A to B equals CD pattern inside on the American Tower out here the A point you're going to use is the low from that hammer candle on trading day of October 13th the B point is going to be the high of October 15th and the C point is going to be the low of the following session October the 18th so the one to one price level out here for American Tower would get you to 278.99 much like I believe might have been Brent and I we were taking a look at an A to B equal CD pattern and where's only a .382 retracement or thereabouts same situation here the actual retracement is 37% this suggests more than 18 to B equals CD to the upside so targets one to one 278 279 the second target the 1.272 expansion 282 the third target 286 now what price is doing that's the good news bad news but there is any bad news is what price is trying to do is get back inside its weekly profile now what we don't know out here Hector and Patty is this just a counter trend move the reason that I even bring that up is because we can see that price is closed for three weeks although the bottom of its weekly bullish structured profile out there so if this is just a counter trend move you should anticipate that price is going to stall out around the 283.62 level don't use it right to the penny it can happen to the penny but you'll use right to the penny and if price can close above that then it's a different message that it says okay no counter trend rally so you're going to want to watch a daily chart you're going to watch for the potential A to B equal CD pattern to complete what Stevie means by that is you would have a very serious reversal candle if that's happening simultaneously as price is getting up towards a 283 level then I would probably exit my position because it would not have proven itself to us that it's not a counter trend move out there so that's how I would take a look at AMAT you're in bar number six of ATD nine count as we pull over the daily time frame chart for it and that says this pattern could top today six and seven eight you know we're taking a look at today's Tuesday so Thursday to Monday of next week but the A to B equal CD pattern I'd be looking for a bearish reversal candle to confirm that so that's what I see when we take a look at American Tower I don't want to provide you with any more information because I don't want to confuse you I think that's the clarity that at least I see here inside of American Tower and I hope that helps you out so thanks so much for listening as always and the question Michael W from Harrison Berg Virginia wants to take a look at natural gas for a potential bottom so as we take a look at the natural gas contract out here give me a moment we'll get over to the futures contract where Stevie have that natural gas natural gas here we go so we take a look at natural gas we're going to be sliding right into the December contract but we're going to take a look at November right now which is still the active contract and price hit support so support was four dollars and ninety two cents that was the bottom of its bullet structure profile you can see a little descending trend line that is formed up here so that says what price should do since prices held support is bounce up into it that would really take us to the top of the daily profile that's at five dollars and thirty eight cents now in the case of natural gas this formed a top this formed a roadsman deminicator top so I'm going to pull over the white background chart so we can see that pattern prices pulled back to support if Mike if price were to fail in holding four ninety two then that would suggest to pull back to its breakout level four sixty so to the extent you're looking for a long trade to get in which it looks like you are then prices held support the question becomes now was that level of support confirmed as a bottom what do you mean by that Stevie what I mean is and you know what I mean we go take look at our short-term time frame charts out here we look for bottom signals in the futures contracts I've got ten minute charts I've got fifteen minute charts a ten minute chart just shows price pulling back to support the bottom of its profile okay fine no topping pattern no bottoming pattern in the case of the fifteen minute chart testing the sauce litter and change line which is green that's bullish TD nine count potentially on the thirty minute time frame so that says we could see natural gas pull back and test four ninety eight this is the roads with TFN we get back to this break we'll finish taking a look at natural gas for Mike in Virginia sharpening your skills as an investor is like getting better at playing a musical instrument you have to practice sure but you also need excellent instruction from experts at TFN and you'll get advice and guidance from the authority and technical market analysis and it's not just dry tedious text either TFN and airs a live financial content streamed live on TFN and dot com and TFN and YouTube channel with Tiger TV live every market day from eight thirty a.m. to four p.m. Eastern for free each host is an experienced trader and gives their take on the market while taking calls and questions live from around the world from the moment the market opens until the closing bell sounds Tiger TV has eight different 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