 The following is a presentation of TFNN. The Trader's Edge with Steve Rhodes. Free at 1-877-927-6648 or internationally at 727-873-7618. The Trader's Edge. Now, Steve Rhodes. Good morning folks. Welcome to the February 17th. The fantastic Friday edition of today's Trader's Edge show. Actually, it's February 16th. I was just getting ahead of myself. But this is the Trader's Edge show and welcome to it. It's been a great week, I think. We've covered a lot of ground out there. We opened up the week talking about phase transition inside of the NASDAQ 100. We're going to explore natural gas. Everybody's searching for a bottom, so we'll figure that out. As well as trying to figure out what's going on with these markets. So we'd love to hear from you. You can give us a call at 877-927-6648. If you've got a question but you can't call in, we've got you covered. You send me an email. Send that off to Steve at TFNN.com. And inside that subject, because you would be amazed at how many emails I get. So if you can put in their radio show question or something, just simply to differentiate that it's a regular email, that would be a wonderful thing. And of course, inside are our Tigers down. Well, then any and every ping will do. So let's go ahead and get this show started on fabulous Friday. Of course, this is Tiger Financial News Network. I'm Steve Rhodes. Welcome to the show. We've got a mixed bag out there. The mix goes like this. The Dow's off 81 points. S&P's down 8. NASDAQ 185. Russell's off 20. To the upside, you've got the Semi's are up 6 points. And the New York Stock Exchange up 15. Trendy's are down 127. So a mixed bag for sure. Gold's up 6 bucks. Silver being up 32 pennies. That's one in four tenths percent there. Light's recruit is flat. Natural gas is up two cents. The 30 year treasury printed out at 1,1805. Now our leaders in the clubhouse to the upside, you've got micro cloud hologram of 47 bucks, 152%. I think that is a hologram. We take a look at Eli Lilly. It's up 32 bucks or 4%. Shockwave Medical 31 bucks, 13%. BioRad Laboratories 25 bucks, 7%. Coinbase 15%, a $25 move there to the downside. Super micro computer. Of 111 bucks, that's 11% move. Adobe's off 23 bucks, 4%. Roku's down 21% or 21 bucks. Door dash is down 13 at 10%. And AMN Healthcare is off 15%. That's about a $12 move to the downside. So we got movers and we've got shakers. Let's do this here. Let's take a look at the... Well, first let's start here with the equity futures and how they're trading in all the currencies or the major currencies. Major currencies, I'm referring to the euro, the pound and the yen out there. They make up 83% of the US dollar index. We've got new all-time highs, by the way, today in the US, many in terms of euros, yen and pounds out there. So it's not exactly like they are big into being the sellers out there. So if you're thinking that we're selling off here in the US, just remember what's your brother and sister overseas doing because they have just as much of an influence. Right now, they're at new all-time highs. If we take a look at the NQ, only new all-time highs today are in terms of British pounds and the yen out there. Again, it's an idea, it's an indication of a market that's likely just going to consolidate during an unfavorable seasonal time period, which basically begins just about now. We'll take a look at that. If we take a look at the Dow, the Dow makes a new all-time high Dow equity future contract that is new all-time high today in euros, yen and pounds out there. And the Dow in terms of US dollars is one that's trading to the downside out there. So that's an important perspective to understand. The next important perspective to understand, it really was a question that came up during the week by Zee, John inside the Tiger's Den. I realize that, Al, and we'll get to that after the break here. So if we take a look at, what was it going to do? So we're going to switch over to our white background charts just so we can take a look at the equity markets, what their message is to you and I at this point in time or what it likely is. So we're going to get over here to this set of charts, but this is the set of charts we're looking at. So there was a question about whether or not the markets or the NASDAQ specifically is in a phase transition. And one of the keys there is about if we are, you want to be able to buy dips, you want to be able to buy bottoming patterns and so forth. This set of charts up here, the top is the daily timeframe, the bottom is the weekly timeframe. Let's focus on the bottom as we speak right now. If you take a look at each of those bottom charts and you look at that oscillator and change line, you tell me where does price need to close below to suggest that maybe the phase transition is a little too early to call. Exactly, it's going to be that oscillator and change line. Each amount of weekly basis is green. We can see the NQ tested and rejected it this week. So it is an all out bullish mode out here. However, it could form a dark cloud cover candle this week. So we need to see it at the week's end. What would that do? That would generate a roadsman to mitigate our top, but price still has to close below that green oscillator and change line to lose this momentum and tell us that maybe there's something else that's going on. We take a look at the Dow equity future contract. That move lower on Monday did nothing more than just simply test and reject that green oscillator and change line. The same thing is true for the Russell 2000. The ESMini never got down to that level, but that's really the key area. So for those of you that are more of an intermediate term type trader out there, a swing type trader, watch those green, watch those oscillator and change lines for their weekly timeframe. The only one that could potentially form today would be the one inside the NQ, which could generate a roadsman to mitigate our top. So now back to the topping, not back to the topping. Now back to the daily timeframe charts out here. You've got to break below. You've got to bust out. So the other thing that we learned this week is just how key the bottom of those daily profiles was as a support area. In one single day, that was on Monday, we had the ESMini and the NQ get all the way down to test the bottom of those new profiles out there. So 49, 39, there's no question that is a key level of support. That must be broken in order to suggest any kind of potential change in trend. And for the NQ, that level is going to be 17, 531. The Dow never did complete its new profile out there, Dow Equity Future Contract, that is. And so we've got is the Dow that is actually trading above the top of its daily profile, 38.050. So that's in a bullish mode, even though it has a roadsman to mitigate our top. So really overall, it's neutral. So with regard to the markets out here, longer term, price is going to need to close below those green oscillator and change lines to tell you and I that there may be something wrong with the markets and they're getting ready to move lower. And why is that important? Hopefully the screen doesn't go black here, but if it does, we'll just move on to something else. What we'll put up here is let's put up the S&P 500. And see what pops up first. So this red vertical line is where we're at today. This is the last 33 years is what's popping up. I don't know why it's a 33 years. Let's just go to 96 years out there. So here's our 96 year seasonal cycle, not presidential, just straight out just all 96 years. What this shows is that typically the S&P 500 forms a top. Now the top doesn't really give us a nice bottom until about the May 24th timeframe out there. Now that's the S&P 500. And well, you know what? Let's do this. If somebody might say 96 years, that's too much Stevo. All right. Here's 25 years. Same kind of thing. Now in the last 25 years, what we see is typically just simply a about a two to three to four week move to the downside that would fit with regard to our dance steps of consecutive moves lower out there. So that's over the last 25 years. If we take a look at the last 10, last 10, you've got the same kind of a thing with the bottom forming here in March. Now this last 10 years is certainly going to be influenced by that 2020 year out there. So you can see that we're in that. You hear people in the news media talking about we're about to enter an unfavorable time period the end of February. Well, now you can see that with your own eyes out there. We get back to this break. We're going to go to Steve Woods, the creator of the float indicator out there. And we're going to take a look at SMCI with Stevo. If you're looking for potential trading setups in the stock market, then Rocket Equities & Options Report is a newsletter you should try. Tommy O'Brien delivers options and equity trades when the markets present them using a combination of fundamentals and technicals. Sign up for Rocket Equities & Options Report today with a 30 day money back guarantee so you have nothing to risk. For all the details and to start your subscription today, visit the front page of TFNN.com. TFNN Educating Investors. You might think that if you want to be successful at trading in the stock market, you're going to need a crystal ball. After all, it's impossible to predict the future, right? Like any endeavor in life, before you decide it's impossible, get some advice from the experts. You might find that it's not so impossible after all. For daily market overviews that give you direction on the key indices, selective stocks and commodities, subscribe to the opening call newsletter at TFNN.com. The opening call newsletter is written by Basil Chapman, creator of the trading methodology known as the Chapman Wave. The Chapman Wave up-down sequence gives you an edge in identifying price turns, finding the peaks and valleys in stock prices. Get the opening call newsletter by Basil Chapman in your inbox every day. First time subscribers also get a 30 day money back guarantee. If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up. TFNN.com Educating Investors Steve Rhodes started his trading career as a student almost 20 years ago and the student has now become the master. 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Hosted at Discord, TFNN has been educating traders for more than 20 years with live programming hosted by a variety of professional traders during market hours, the Tiger's Den. Available to all tigers and tigers for just $1 for the year. There's no catch or added costs when you join our community of traders. Sign up today and become a part of this educational community of traders, just visit the front page of TFNN.com. Toll free at 1-877-927-6648 internationally at 727-873-7618. Folks, we're going to settle in for just a little bit. We're going to take a look at Super Micro Computer Inc. SMCI is the ticker symbol. The thing has been on just a gigantic roll in really a short period of time, going from $37 to over $1,000. Having a tough day today, and we're going to talk about this with the inventor of the float analysis. In fact, I happen to have that tool on eSignal out there. That's how much they appreciate. So welcome, Steve Woods from Maryland. Steve, thanks for calling in. Thanks for holding. How are you today? Steve, I'm very good actually. Are you there? I am. I hear you now. Give me just a second here. What I want to do, because I'm going to change over to your float analysis chart in a moment. We had some other requests inside the Tigers then as well to take a look at this. So I'm going to just review that portion of it first. Just to give you my take on what this is communicating to us off of my white background charts, which are up on the screen. Now let's switch over to my eSignal charts, which has your indicator on there. So you can describe to people what it is that your float analysis tool is showing us and what that could mean from here. So when I take a look at these daily time frame charts out here, we don't have any. Well, so there's certainly there's an A to B equal CD pattern to the upside that we can draw in. And you can more clearly see that when we look at the weekly time frame charts. So today, it looks like we're going to have both the key reversal bar and perhaps a bearish engulfing candle or some type of bearish reversal candle. So that would generate a sell the D point pattern. At the top that says that price should move back to support folks. The first level of support that I have right now for SMCI would be that green oscillator and change line. And that's an 818 and change out there. So it's just called 818. What you should also notice is that there's a new profile that is attempting to form today. Now, I won't have a confirmation on this profile until Tuesday, quite frankly, because of the holiday on Monday. But this profile is forming below price Steve and when a profile forms below price, that's actually a bullish message out here. So what this is telling me is we're going to, we're likely going to get a topping pattern today. It should take price back to support. The 818 area will be one level. I'm not saying price can't get back to those profileries. I'm saying when a profile forms below price that is a bearish signal. So it gives you and I a little bit of a competitive advantage. And when we look at the weekly and the monthly time frame charts, there's no topping pattern that I have here. So that's what I see when I take a look at the daily, the weekly or the monthly charts out there. And now, Steve, what I'd like to do is I'm going to switch over. We're going to take a look at our black background charts. This is going to be the daily time frame that we're taking a look at. This is SMC chart and the tool that I have on here folks, this is Steve Woods float indicator. And Steve, if you can just describe to them what's going on with regard to the upper and lower and center band that you have here. And then obviously what it is that we see today, which is a unique signal out here with regard to float analysis. So Steve, oh, take it from here. Okay, well, let me first start by saying Steve, you're one of the best technical analysts out there. I just want to praise you and say, you know, I took your newsletter, I got so much from you that I use and so I just want to say anybody who's listening and hasn't bought Steve's newsletter, you need to get it. I listen to you every day, Steve, and you're really good. Okay, thank you. I appreciate that. In order to understand float analysis, you got to understand the idea of adding volume up in a backwards direction. So you take the volume of today and you add it to the volume of yesterday and the day before that and you keep adding a volume until it equals the float. So what is the float? The float is the number of shares that are actually available for trading. And the idea is that when a stock is going down at some point at the bottom, it's going to have a float turnover which is where the smart money is buying and at the top when your stock makes a run to a new high and turns over and rolls lower, it's going to have a turnover at the top where you can see that the price breaks below the float turnover and I'm creating a rectangular box just adding volume going backwards and when the price breaks below that box it should be initially you want to think of it as a sell signal. In this case this is just an incredible thing because this has now got a two day turnover so that means if I had today's volume to yesterday's volume I'm going to get to 47 million shares. Well 47 million shares is the entire float in this company. So that means that this is turning over and right now it's having a two day float turnover and you can see that because on Steve's chart here you've got a two day box and the box goes back to the low of today and the high of today and you've got a huge bearish engulfment in there. Now this particular, how do we have the question is how do we read this? Now I'm thinking just yesterday Bank of America let's give a little background to this company. This company makes the servers that have a cooling system that allows it's the best servers for using NVIDIA's chips. When NVIDIA took off last May or whenever it was when it blasted higher, well this thing blasted higher too and it had a big run and then when NVIDIA went sideways this went sideways and I was tracking that and I saw that in the sideways move it was going through a multiple float turnover pattern which means in the sideways move it's turning over the float turnover over and over and over so what do you get from that? Well it means that traders are just blind in that trading range from the low to the high and it's just going back and forth back and forth. Well then I was just you know at the bottom when it broke out above that they made a pre-announcement and I saw that pre-announcement because it gapped like it was a huge gap from the day before and then it just blasted through that trading range and I got in at $320 and I've been riding this baby higher. So this is the way that I've been looking for to see what's going to happen but just yesterday Bank of America initiated with a buy for a long term hold so the question is is this distribution happening up here or is this accumulation and you're not going to know until you see the price action after this because people that are buying today could be buying to hold for a long term anyway you can't really tell whether this is accumulation or distribution if the price breaks below and starts moving lower in a big way I'm thinking buyers are just going to come in anyway what this is saying is we're headed for a sideways move I don't think it's just going to head right back up to the high but it's basically you can either interpret it as it's distribution total distribution at the top or you can say oh there's smart money is coming in up here and if they hold those shares it's going to go higher but in any event the turnover is giving you a signal that this is a really important point wouldn't you think though if it's distribution we'd be on lighter volume not on big volume like this which is kind of sideways move well yeah and especially since it's had this huge move to the upside because as Tom you know Tom I you know I used to have the 9 o'clock show for a while and I gave you know I went on tour with Tom and we gave workshops and as Tom points out you can have a normal correction and this is going to come down to 700 you know it's going to have a if it has a normal correction but that's if you have a normal stock I don't think this is a normal stock because this is an NVIDIA or the 2 big leaders in AI and they're going to hard break here we're going to hard break here you're welcome to stay on and we can finish up when we come back but we're going to be on the road and Steve Wood's the gold report as a precious metal gold is still king it continues to hold the most effective safe haven and hedging properties across the global major trading hubs of the London OTC 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that this is just more of a sideways-ish type consolidation maybe it's going to set up a retracement my tools are saying it should set up a retracement with price pulling back into the 701 to 818-ish type area out there so it seems like we're in sync at this stage here but let's continue to follow it any any other piece of information that you'd like to share with the listeners maybe just a quick what you know I'm showing your chart out here so the blue lines are those the float channels that we see out there the upper and the lower levels of this tool yeah let me let me say this I hope my phone is now working better I pulled out them Mike but anyway okay you can thank you up with a new way a new way to create a float chart and to think of it and you can use channel lines and what you do is you find the float number which you can find over yahoo or sure number of places that have it and then you divide the average volume in the past few days of the past month and you'll get and you applied those to a channel indicator so you get channel lines and the channel lines then give you you don't get to see the box because the problem was a whole lot of platforms couldn't create the indicator it's not an easy indicator to create because you have to count volume up backwards and then a lot of people didn't make the indicator correctly so the one you're looking at doesn't really show it correctly because it won't show breakouts it will just take the high and low lines and maintain those so when it goes above the channel line or below the channel line you don't really see that so and then the final thing that I'll say can you do me a favor can you call those guys at e-signal tell them to correct the formula for you as long as he's out there let's get it let's get it going yeah well I yeah well that's something that's probably probably in my future if you're asking me to do that I will do that the thing is that anybody on most any charting package has channel lines and you can create the channel lines yourself you don't even have to buy each you know you don't have to buy any of these fancy stuff and if they want to get in touch with me I don't have a service I'm not you know all I do is I trade myself here in my own home office people can get in touch with me at float analysis Steve all one word at Gmail float analysis Steve I love to talk about it and I'm going to call Tom this afternoon because today is a beautiful day on this chart for a pullback. But I mean it's such a good price that you know I'm just I think it's going to go a whole lot higher in the long term so. Well perfect well good to hear from you others in the den are glad to hear your voice as well and please call back in again soon okay. Okay you'd be well Steven thanks again for everything. You bet you too that was Steve Woods from Maryland. We did have the S&P just turned slightly green there for a second we're basically flat at 50-29 so let's get to a couple of other requests that came in. Brent wrote in earlier this morning Brent and Martinez California want to take a look at natural gas who doesn't you know we're all looking for a searching for a bottom here so we take a look at the natural gas charts we're going to switch over to a couple different charts out here it's a monthly chart basically as ugly as you can get there's no bottoming pattern or anything along those lines here we're just in bar number six we're wave number five out here letter E no bottoming signal the natural gas weekly chart has moved lower it's lost that road's been to indicator signal so there's no bottom pattern here looks like this thing just wants to continue to move lower well the only possible saving grace out here could be coming from the daily time frame chart Brent and that is that this will form a TD9 count we're not seeing the chart thank you thank you thank you got through all that and thank you Al for saving me so here are those white background charts out there so again a monthly lower left bar number six bar number five on the weekly no roads meant to indicator signal basically looks ugly as ugly as you can get but the daily time frame this is something to be paying attention to we do have bar number nine of a TD9 count that will confirm today as long as price closes below dollar 76 that's a likely outcome so we're going to get a well in that pattern now we'll complete on I don't know if natural gas futures are trading on Monday on the holiday or not but they'll certainly be completed by Tuesday out there now there's a new profile that's attempting to form for March March contracts rolling over to April I think it rolls over next week but not mistaken so we're going to switch over and take a look at the April contract as well but I just want to give you a feel for what's going on here because those people want to trade the UNG March is still in the UNG it's about a third of the holdings upside inside UNG the April contract is the other 75 percent or thereabouts don't quote me on the actual percentages out here so we do have a potential bottoming pattern for natural gas that's if we especially if we get a you know there's an a to b equal cd to the downside so if we got a bullish reversal candle today that would generate both a TD9 count and a buy the d-point pattern and the reason why Brent and myself and everybody is looking at natural gas is really because of this not this chart here this is the s and p but we'll switch over and take a look at natural gas and if we take a look at natural gas we put this on the maximum data that I have which is 33 years and what we can see is that natural gas is we're in the time period where natural gas should be forming a bottom so on average over a 33 year period that bottom typically comes in right around February 20th what's today the 16th so it says we should be forming a bottom today Monday Tuesday Wednesday something along those lines if it's going to follow along the seasonal pattern natural gas has basically two months that are favorable for it two months and you can see this at least on average over the last 33 years it's been March and April has that changed along the way well I'm not going to go from 33 to 25 that's not going to do much but let's take a look at 15 years out here 15 years shows that April is a month that moves higher in July it's not a lot of favorable seasonal time periods here for natural gas but we're basically or we should be in one of them what's natural gas do in a 33 year period I don't know the answer to this we're going to find out during the presidential election cycle out there what happens well in this case here Brent if you're going to ask that question natural gas doesn't really bottom until March or so so let's go with what we have right now what we have right now is that over that average 33 year period that we use out here we're expecting to anticipate natural gas should bottom or we're getting that signal today now let's switch from these charts to go over and take a look at the actual UNG boil the two contracts that make up the UNG right now well turns out that natural gas for its April con what the heck happened there shoot this was supposed to be daily sorry folks me in second here about weekly daily let me just so you can see the TD nine count bottom but I need to just make sure I've got the proper template here loaded that way we're all looking at the right data there we go so you can see that a TD nine count bottom is going to complete today for natural gas for the April contract that makes up about 75% of UNG out there there's an A to B equal CD pattern here too we got a bullish engulfing candle we don't have any profile issues to deal with that could be good or bad out there you'd love to have profile support out there but we don't have that in the April contract this suggested a minimum we should see a rally up to that red oscillator and change on about a buck 76 inside of natural gas and if price can get above that we could be looking to move up to the 213 level you can see on boil and in UNG they both have they will both complete TD nine count bottom patterns today so for those of you looking to get long natural gas you've got a pretty good signal as we speak right now and even on the 30 minute time frame this is a beautiful thing you have a negated TD nine count top the things are looking up but only time will tell Steve Rhodes with TFN currencies commodities and bond markets are as important as ever right now with how they're driving the volatility in equity markets across the globe which is why it's a great time to try out teddy keg stats tiger forex report teddy keg stat breaks down the forex markets every monday using his 30 plus years of experience as a trading veteran of futures forex stocks and options teddy releases his weekly tiger forex report every monday morning with coverage of all the major currency pairs including the dollar index the euro dollar pound dollar 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summary prospectus should be read carefully before investing an investment in the funds is subject to risk including the possible loss of principal the funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor foresight fund services LLC this program is brought to you by vista gold traded on the nyse american ntsx under the symbol vgz say we had a question that came in from joe that was uh while we were taking a look at natural gas joe's specific question is do you see a bottom of natural gas for a short-term trade if i wasn't clear i think i was the answer is yes i was watching that 30-minute time frame chart when i get done with this uh break here i'm going to issue a trade alert for newsletter subscribers from answering probabilities making them aware of what has transpired so far so if you're looking for a bottom signal bottom pattern it's right here right now well you got to use stop so you got to use a stop doesn't mean that it's going to turn into a trade we look at those weekly and monthly charts their reasons to be cautious at a minimum all right so let's get back to uh these uh requested have come in 777 he's going to play a little black no not black his name is jack blackjack but 777 i'm thinking that's more of a one well it could be it's more of a one-armed bandit don't you think in any event zto is really just get to it out here zto is what uh jack would like to take a look at so let's get the up on our screen we've got up on our screen don't we uh yeah we're in the right spot okay so this is zto express came in ink i'm not sure what that means it's mean they're in the camons is that the deal we take a look at zto it looks bullish to me on the daily time frame wise look bullish formed a beautiful roads meant to mitigate her bottom price and gaps up above profile resistance the next target for uh this let's pull this back just a tad on the daily time frame next price target is its td9 count breakdown level and that's up at the 21 22 level if we look at a weekly time frame you love zto why td9 count bottom is going to complete this week and it looks like price will close above that red oscillator and change line that is a signal that we should see more of a rally that more of a rally should take us up to 2022 or 21 33 so our price targets right now are 2022 21 31 and 21 22 on a monthly time frame it's a possibility that this will go ahead and generate a td9 count bottom this month is going to be bar number eight we really don't know on this day cheer but what we do know is that a prior swing point a prior swing point from october 2022 volume there was 77 million last week i was tested last month with 77 million this month so far we're about halfway through the month 34 million so still got kind of a volume but nonetheless zto this is a technical call out here it's going to rally and that rally should take us up into that 2022 level out there so i hope that helps you out jack and thanks so much for the request and your patience we're going to go take like a tick symbol w i m i out here this is for uh uh dan inside the tiger's den this is wimmy hologram cloud out there this is only trading at about a buck dan thinks this might be a lottery ticket out here so what do the patterns tell us about the patterns tell us on the daily time frame the only thing i can come up with as we speak right now is this thing is trading in a gigantic did i say ginormous or i said gigantic profile it's a bullish structured profile and today's close above 92 cents and in uh tuesday's close above 92 cents would go a long way to suggest that price wants to make its way back to that buck 39 level that happens to be the high the most recent high out here and it is the top of that daily profile if i look at the weekly time frame chart price is trading by the top of its profile the top of its profile is 91 cents a close above that this week is going to suggest to run back up to 117 we're going up to 117 that gets us up towards that buck 39 level i don't see anything negative on the wimmy in the monthly time frame in fact the monthly time frame looks like right now it's trading above profile the top of that profile so you'd love to see this dan is on february 29th i don't know if that's a trading day do we have 29 days this uh february 28th or 29th whatever the last day of february is when the month actually closes if you can get a close above 97 cents that would add to the bullishness that you have with regard to the monthly time frame again the uh day weekly time frame is certainly bullish as is the uh daily right now so um i hope that helped you out with regard to the profile information out there and best of luck to you we've got a request from vick who wants to take a good coin base out here i believe coin base was out with earnings before the bell after the bell they're back up at their most recent highs a close above the level of 187 39 a close above 187 39 is going to negate a weekly td9 count top you know what that says that says price wants to get up to 323 dollars eventually eventually because that's a monthly time frame price target we're trading above profile levels it looks like this is going it could so it could how are we gonna get how are we gonna know if we're gonna get to 323 the answer my friend comes from a monthly close what stan says is the 29th uh that's perfect is so that's a net we're gonna celebrate david white's birthday like we've never celebrated before as that is his birthday right he's he's a youngster right he left us way too early out there because he only got so many birthdays to celebrate um how many did he get uh 10 12 13 14 something along those lines so we're going to celebrate that on the 29th in honor of him but if this can close at the 29th if he can close above the price of 187 39 that will be its signal to you that price wants to move to that 323 level so you've got today's price to watch you want to see that close above the weekly td9 count again that number out there is 187 39 if you get that that's a beautiful thing price is taking out or trying to take out a roadsman to minicator top the swing point out there it did volume of 17.6 million so far today you've done 21 million shares so price is taking that out that could set up a pretty large a to b equal cd we don't need to set up the a to b equal cd patterns here do we know we don't because we got 323 as a price target out there so vika hope that helped you out uh me me wanted to take a look at the profile levels on ticker symbol erf so let's get that up on stevie's screen out here and erf is what i don't know but we do know that today is going to become bar number eight now that was not me me's question me me's question was this for enter plus corporation is where are the profile levels so on a daily timeframe me me the profile level was at 1605 i say was because we're trading at 1639 so a blue pass that yesterday we're trading above it today we're trading above a green oscillator and changeline but you do have bar number eight that is forming here this suggests that enter plus even as bullish as it does look right now it still should form a short term top between today and wednesday of next week that short term top should take us back to support the support level or the first support level would be at 1605 the top of the daily profile this would be the second day above that level so it is a real change in trend breakout a signal here but nonetheless you're likely going to get a topping patent forms by a wednesday of next week the weekly chart says yes so what so you're just going to get a little topping pattern pull back and test support that's fine because i'm in a breakout mode myself there was a new profile that formed last week the top of that profile is 1596 again where it's 1640 so 1596 old resistance would really become your new support level we don't need to know where the bottom of the center of the weekly is with regard to the monthly timeframe the monthly timeframe shows that price is consolidated with inside his profile out there and this would suggest that price might target 1714 so we got 1714 on the monthly we have 1759 as a price target on the weekly and just be paying attention to that daily timeframe out there i'm not suggesting that you sell i don't know if you've got a position or you don't have a position if you do have a position and you've been holding on well you make the decision that's right for you i'm sharing with you that the chart patterns weekly and monthly are saying this thing wants to continue to move higher eventually and i think that's after a short pullback so me me i hope that helps you out with regard to that question i see we're going to be going to a break here in about 10 or 15 seconds there are two requests that i have that are outstanding although i need to check the tiger's den see if there was anything in there that i miss i don't think so so we're going to take a look at occidental petroleum and devin energy for alton we get back from the spring steve rogel tf you might think that if you want to be successful at trading in the stock market you're going to need a crystal ball after all it's impossible to predict the future right like any endeavor in life before you decide it's impossible get some advice from the experts you might find that it's not so impossible after all for daily market overviews that give you direction on the key indices selective stocks and commodities subscribe to the opening call newsletter at tfnn.com the opening call newsletter is written by basil chapman creator of the trading methodology known as the chapman wave the chapman wave up down sequence gives you an edge in identifying price turns finding the peaks and valleys and stock prices get the opening call newsletter by basil chapman and your inbox every day first time subscribers also get a 30 day money back guarantee if you're not 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because when you know better you invest better join us and experience the difference today tfnn educating investors folks we're taking your charts here for Occidental Petroleum and this is for Alton and Alton what I would say is in 47 cents the the fastened seat belt sign is going to be coming on and you want to be paying attention because those air masks could fall down because you're going to run into some turbulence so you've got sellers or resistance at the 6105 level that's on the daily time frame that's his td9 count breakdown resistance level by the way this formed a td9 count top it did that on the trading day of december 22nd what did that do that took price all the way back to its breakout level of support and that was on january 18 so maybe it's going to do a full trip back up and 6105 would be that area not only on the daily time frame is 6105 resistance the weekly time frame says between 6094 and 6261 it's going to get bumpy why because that's its bearish structured profile area out there monthly chart uh not really providing us with a ton of information just shows that long uh sideways consolidation that's been in place quite frankly since may of 2022 out there and that is for Occidental Petroleum let's go take a look at Devin energy dvn is a ticker symbol out here we take a look at dvn you got a profile change in trend signal yesterday you're getting confirmation of that today this suggests a run for its breakdown level at 4565 the weekly chart says well before I get the 4565 I've got to get back inside my profile that formed above price which is a bearish message doesn't mean price can't get back in there but that first level resistance to the upside is not that many cents away we're at 4354 and 4393 is going to be that first resistance level that you're going to face inside of Devin energy I'll tell you on a 65 minute time frame Devin energy right now it was forming bar number nine of a td9 count so this suggests that we should see some kind of pullback or retracement it may just be brief but that's what's going on on the intraday basis to finish things off let's go take a look at draft kings out here this is for dan from new york draft kings looks very bullish why because yesterday it negated his td9 count top and today it's getting confirmation of that we're trading above yesterday's high looks to me like draft kings wants to continue to run higher run higher to where well it's negating its monthly td9 count top that says over time draft kings wants to get up to the 64 58 area dan from new york so i hope that that helped out folks have a fabulous weekend out there monday is a holiday it's president's day well i'm not a president but i get the day off anyways i hope that you get the day off as well we'll look forward to seeing you on tuesday take care be safe out there folks