 The following 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 December 15th the wonderful Wednesday edition of today's Trader's Edge show I'm your host Stevie 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 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 ship Well means we can find the gift in every set of circumstance that life is gonna toss at us now today You and I we're gonna go check on the circumstance of these markets We'll go figure out what those bulls and bears what those buyers and sellers are communicating to you And I just passed one o'clock in the afternoon. I want you to know I'm absolutely grateful for your presence here But more important than that and that's this during this next hour I'm here to serve you so feel free to pick up that phone. You can dial on an 877-927-6640 if you can't dial in We've got you covered there, too Go ahead seven email send it to Steve at tfn.com and inside the subject dating Please put radio show question of course in our Tigers then well any and every ping will do so Let's go ahead and get this show started on wonderful Wednesday. Of course. This is tiger financial news Network I'm Steve Rhodes. Welcome to less show right now We got most of the US indices trading to the downside the only one that is not as a transports The Dow is off 12 the S&P is down eight the Nasdaq 101 12 Russell's down 17 Semis off 19 trannies are up 41. You've got gold down six bucks silver off 36 pennies lights We crew down 14 cents natural gas up nine pennies trying to put in a bottom there by the deep point possibly by day's end Lead the charge dollar wise the upside you got CMC materials up 44 bucks 30% Eli Lilly 23 bucks nearly 10% O'Reilly automotive $18 nearly 3% tandem diabetes care up 13 bucks That's 10% and in select corporation up nearly 13 or 5% to the downside We've got Amazon of 65 bucks Shopify 53 Bang, I don't know how you pronounce that one down 45 B Pam systems down 32 googles off 28 So plenty to look at but first we're going to go out to Martinez, California and speak with brent brent. Thanks for calling Thanks for holding. How are you doing today? I'm doing great. Steve. How are you? Excellent. Thanks much for asking and I believe we're going to take a look at merc MRK is a ticker symbol out here So let's get that up on the screen and tell me how I can best help you I am long this with some call options the 70 to 50 and If you look at the chart, at least in my mind, it's a there's a very obvious Maybe you can see the to the upside starting from back in September that completed Pretty much right on you know the target and then the same type of pattern coming down That completed, you know kind of here at the beginning of December Yes, and so that's where I bought in and then I just you know just making some sort of a move here and Just one of your thoughts on your area to be watching attention to that side Sure. Okay. So first on the daily time frame You're inside a daily profile and the resistance level is what it appears to be targeting and that's 75 70 So that would be a level you'd like to see price close above at least for two consecutive sessions If we get that then we would slide over into the weekly profile It's a relatively wide profile and that would suggest to move up to 83 19 But before price does that the battle ground would be at 77 65 That's the top of the monthly so your battle grounds right now from a profile standpoint or 75 70 Above that is 77 65 and then if you could clear that you'd be off to 83 19 before I pull over my daily White background chart any questions about these charts or these profile levels No, that's great. That's what I was looking for Perfect, okay So on the daily time frame Brett mentioned the a to b equal cd to the downside pattern It also formed a td9 count bottom It did that at the breakout support level of 71 86 Today what you like is that price is above that red oscillator and change line So nothing additional to add here because it just then suggests Brent those levels that we looked at So 75 70 and the daily the monthly and then the then the weekly time frame So everything you've got a nice bottom pattern out here everything looks good And just a matter of how price still deals with those battleground areas All right, that's fantastic. You know, I appreciate that. There's always You provided what I was looking for so I appreciate that and Yeah, you have yourself a great day and a great week, okay Okay, thanks. That was Brent in Martinez, California. That ticker symbol there was uh, merc now yesterday I did a very poor job of getting to everybody's request out there So my apology for that But all that meant was that you have to just wait an extra day So now I don't have the names of who was asking for what I just know the symbols out here So I want to go ahead and get to those then we'll go to the markets out here So one was to take a look at FedEx. So as we look at FedEx fdx is the ticker symbol right now It's trading back inside. It's a daily profile been inside there now basically for the last three trading sessions So your support area is 233 49 237 55 and resistance is 241 61 now Price is also pulling back the test support on the weekly level. That's the top of the weekly profile So the level to be watching here is 238 54 if price were to close below that then that brings out the 237 55 the 233 49 area Again, that's just simply from a profile standpoint as we pull over the white background chart and we take a look at it for its daily time frame We can see that price is below its red oscillator and changed on now That just changed colors yesterday And if price remains below that level that level by the way is 241 89 that suggests lower price So that would say okay, we're likely going to go target the bottom of that profile 233 49 What FedEx does have it had a td9 count top that stopped the move higher on November 15 Which then formed a td9 count bottom that stopped the move lower on december the 11th out here No pattern other than just simply take a look at the task market profiles the oscillator and change line to get a feel for price Is likely headed But in this case here again a rejection or close below that red oscillator and change line would suggest lower price For federal express weekly time frame chart. It has a td9 count bottom as well We talked about our price was testing that key level of support That was the top of its profile old resistance can become new support So not much else that I could provide to you with regard to federal express Thanks for waiting an extra day whoever did that the next question I knew this this one did come from hector and the fuel injectors that was to take a look at nvidia My guess is that eddie and bokeh would like to look at nvidia as well Here's what we know price is trading below and has been trading below for the last three trading sessions at the bottom Of its daily profile that was at 293 85 that suggests lower price as we take a look at the Weekly profile though. It says hey hold your horses stevo And the hold your horses is price is traded back to the bottom of its profile So the key level there to be watching is 275 79 so eddie Hector patty Watch 275 79 if there's a closed load on a weekly basis that suggests that nvidia should head lower So the question is head lower to where well as we open up the daily time frame chart Well, we can see the head lower would be to the 242 82 level that is this td9 breakout area And a close below this hammer candle from the trading session of december 6 that low is 280 38 That would then generate an a to b equal cd downside pattern. So nvidia looks like it's got Some work to do but what might save it is the bottom of that weekly profile So the key level to be watching there 275 79 we get back to this break We'll go take a look at marvell and fiser to wrap things up steve rhodes with tfnn. We'll be right back 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 tfnn all our newsletters come with a 30 day money back guarantee So you have absolutely nothing to worry about visit tfnn.com and try mastering probability 30 days risk free today tfnn educating investors What's separating you from the most successful men and women on wall street? 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We'll take a look at marvell technology mrvl t mrvl is the ticker symbol out here and what we can see Right now is that price to just consolidate with inside its daily profile It's above the weekly and above the monthly but the weekly chart is the one that's really kind of controlling things right now As we open up the white background charts what we'll see on a weekly basis a td9 count top It's got an a to b equal cd pattern most certainly we don't the week is not over It's only wednesday but at this stage here. You could also be confirming a sell the t-point if we get that bearish reversal candle at the present time And as a bearish dark cloud cover, but it's hard to call weekly candle Based on wednesday's wednesday's action, but this does suggest that price should move back to test the oscillator and change line That's in the 78 56 level So when we take a look at price trading with inside the profiles on a daily basis the bottom of that profile is 79 12 the top of the weekly is 76 12 So at this stage here, uh, and we'll go take a look at the daily chart It would appear that marvell's going to pull back in the 76 to 78 Type area out there on a daily basis. We don't have a topping signal I don't even have a sell the d-point pattern because I don't have that bearish reversal candle But what we do have is price being below the green oscillator and change line So the momentum has waned and that's why I say that is more like more likely than not the weekly chart that is controlled And with regard to marvell it suggests a further retracement out there The next question was or the next instrument to take a look at was fiser I believe that was for mike who sent me an email or mark who sent me an email Or if it's not then at least we're covering this for mark and whoever put in that request yesterday So with regard to fiser here, we're looking at the daily time frame What we have is uh, no sign of a top Uh, you do have a triggered roadsman to indicator signal but that needs a bearish reversal candle So the daily time frame for fiser looks like it wants to continue to move higher as we take a look at the weekly chart out here The only thing that I've got on a weekly basis is what? A potential for wave number seven. Where's that count? Okay, so all the way back there, but that needs a lower high next week Um to confirm that pattern, but it looks bullish price above the top of its weekly profile Um, it looks to me like fiser wants to continue to move higher out there So the request I believe or the question was your thoughts on analysis See this is a continuation of a of a trend of the upside I do at this stage here at least with regard to the daily and the weekly Every indication is that fiser wants to continue to move higher So, uh, thanks for writing in mark if that was you from yesterday Sorry that I was not able to get to that question Uh, we've got some questions that have come inside the tiger's den One coming from mike. Uh, mike k wanted to take a look at the gdx Gold and the silver. So let's take a look at the gdx here. The gdx right now is pulling back into a prior swing point Let's take a look at that prior swing point and its volume that swing point was from the trading session of September 29 2021 the volume there was 34 million shares. We're 13 million right now We're basically almost four hours into trading. So we know that volume here is light But if it closes inside that swing point, which means below 2941 But above 2883 it would suggest even though you're coming in with lighter volume You could get back there and test that level But with regard to sellers the sellers were more sellers around in september september 29 to be specific than there are Today prices below the bottom of that profile. So that's not a good sign out there That's what the daily time frame chart is communicating to us at the same time prices also So as price moving back into the daily swing point with lighter volume The weekly shows that prices test in the bottom that weekly profile now that weekly profile level is 29 30 Price right now is at 29 19. So be curious to see if this holds coming into the Coming into the end of the week out here Let's take a look at the white background charts for the gdx. Give me a moment just to get those produced and pulled over Should be here momentarily and what price is doing as we pull this back prices testing a td9 breakout level that td9 breakout level is 29 17 No bottoming signals negated its bottoming signals out here most recently and And most certainly today negated the Well, it didn't get to the td9 count bottom a while back So right now all you've got is price pulling back on the gdx on a daily base point back into a price swing point With lighter volume and right into a breakout level on the daily basis 29 17 and right into a support level on the weekly basis The bottom of that profile. You also wanted to take a look at gold So as we go take a look at goldilocks out here, we'll switch over and do what? Let's take a look at this set of charts here. Why on this set of charts here What we know is well first what I can share with you is december 2nd Was a td9 count bottom that low out there is 17 62 29 until price takes that out Will that bottom signal get negated on a weekly basis prices point back to test the bottom of support That's at 17 61 our low so far today has been 17 64 10 So you've got the gdx mic pulling back into support with light volume Pulling back on the daily basis pulling back into a weekly level of sport the bottom of his profile So to his gold are these areas going to hold they may support hasn't been broken What happens if they get broken good question? I would say it opens up that door for 16 83 That would be the march 8 swing point out there. You also asked to take a look at silver Now silver does not look as good as goldilocks out here. Let's go take a look at those silver charts here silver And then go that's gold and silver. What's okay? We'll take a look at this silver and then us dollar index Out here so silver right now is trading below The bottom of its bowler structured weekly profile, but it killers It doesn't matter what it's doing at wednesday at 124 in the afternoon It really matters. What is it doing at four o'clock on sunday? I've sat on friday out here So right now, but prices point back into a swing point. So let's do this here. Let's do a take a look at the slv Give me a moment to pull that up on our screen. Let's get to the three time frame chart Just to understand the volume as it pulls back into that swing point. So That prior swing point is back here from september 29th as well The volume there mic was 56 million. We're at 20 million as we speak right now So very much like uh, the gld or gold Pulling back into or the gdx pulling back into a swing point with lighter volume But it hasn't tested the bottom at swing point the bottom there would be 1983 So a test of 1983 a rejection meaning a close above 1983 Unless in 56 million shares would be a bottom signal for the slvi. I assume a bottom signal for silver as well So that's what we have with regard to gold silver and the gdx We'll see if there's fireworks at the 2 o'clock 233 o'clock time frame out there After the fed releases its statement as well as the interview process Out there as well. So hope that helps you out. Mike. Thanks so much for writing in There was another request inside the tiger stand. I believe that was take a look at the roll blocks out here rblx is the ticker symbol. So let's get that rolling out here rblx Let me get that going on my other chart. So roll blocks trading below The bottom of its daily and weekly profiles out here. So let's pull the daily back So it's trading right back into where a big huge gap with wide price spread That was on the trading day of november the 9th. It really began the prior trading session November 8th, but november 9th this thing moved higher with 93 million shares and pulling back into that area with 28 million shares so far, but let's pull over the other charts See if there's any kind of signals is any kind of bottom signal on a daily basis The answer is no, there is not so we see the a to b equal cd to the downside And we see a breakout level of 74 10 So at this stage of the game it would appear that roll blocks is heading towards that 74 10 Level out there. That's what the daily time frame chart show now We're not really going to get much with regard to the weekly because it has been trading long enough So let's go back to that black background chart I'll draw in the a to b equal cd pattern the swing point which had 15 million shares You're already passed with 28 million shares. So roll blocks has a confirmed a to b equal cd to the downside We'll get that up here on the screen momentarily And you'll see what those price projections are the first one being 86 60 the next one 78 43. 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You were born to be tfnn educating investors tfnn is excited about our new software charting program the art of timing the trade charts In collaboration with tom o'ryan 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 art lease abc's butterflies and much more The art of timing the trade charts is designed to help you when scouring the markets for stocks Just beginning to form the trading 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 The only remaining open question that we have between yesterday and today is what's going on inside of natural gas So we'd love to hear from you. You can give us a call at 877-927-664 You can always send me an email do it quickly steve at tfnn.com and put please put radio show question Inside that subject head and of course Our tigers and I'll take any and every ping out there. So with regard to natural gas. We got the january contract up on our screen And it does look like today is going to generate a bullish engulfing candle down the bullish engulfing candle here Would confirm a couple of different a to b equal cd down patterns to the downside out there. However Uh, we can see that price is also testing its red oscillator and changeline We saw a nice move higher about two days ago price ran into resistance That was the bottom of the gap that's at four dollars and four cents out there So strong resistance area and it also ran into resistance at the red oscillator and changeline So I would wait for price to close above at least the oscillator and changeline That currently is printing right now as we speak at three dollars and 86 3.8 69 That's a january contract that we're taking a look at and if price can close above that then maybe You've got a bottom signal here What you would need to also see though in the coming sessions It's certainly a close above four dollars and four cents If you get that then you at least have a bottom from the standpoint of at least a countertrend rally That could or should take price up to the top of the profile the daily profile That's about four dollars and 57 cents. So it does look like you may get that bullish engulfing candle You have that at 131 in the afternoon. You had that at 7 30 this eight o'clock this morning out there. So that hasn't changed But what has changed is price is tested and so far it's rejected that red oscillator and changeline So it really kind of gives you even with the bullish reversal candle gives you more of a neutral signal than anything else closing Above that oscillator change line. That would be the next slide positive. So let me just check here. No other request Yeah, no other request out here So that's just going to give us time until we do get a request Just kind of surf around the markets and try to see if we can figure out if there's any tells out here with regard to What the markets intend to do Once Fed Powell releases his statement. So how are we going to do that? Well, let's just come back here and take a look at the four equity future contracts. This is where we start So as I mentioned During maybe it was the as we came on the air or maybe it was during the update I can't remember when but here's what we do now if we take a look at the es And you can go take a look at the spy If we take a look at the es mini price yesterday got back and tested the swing point The top of the swing point was 45 99 tested and rejected if you go take a look at the spy You'll see it did the same thing and it did it on lighter volume So tom is a coin at expression. I owe him a dollar already I'm going to be $2 now because it says if you can't bust them to the downside price will try to bust them to the upside So that's the message from the es mini in the case of the end queue Which has been fairly weak out here prices pulled back yesterday and today testing the bottom of its daily profile 15 7 23 So a key level of support has held In the case of the dow equity future contract prices testing That center of its bearish structured profile the center is at 35 4 13. We're trained at 35 407 now Let me go over and open this up here momentarily and we'll just slide the chart over What the dow is also doing it's at tinkering with its oscillator and changeline which recently changed color So yesterday was a oops Yesterday was a test and rejection of that right now. We're just trading right near it or right on it So to speak another rejection of this would suggest we move higher move higher to where well 35 900 inside the dow Is going to be your key resistance level that is the td9 breakdown level That's what I would expect that price would head to if it in fact moves higher So in the es mini it's pretty clear at least pretty clear to steve at this stage here The message of the markets was it didn't have the volume to push through that swing point yesterday And maybe that and we've been at support here in the nq hasn't busted through that Support really in the dow is all the way down at the 34 230 area, but it's testing a another key area right now That's that oscillator and changeline. So that takes us over to the russell 2000 the weaker of the four instruments out here And prices back to support and support is the bottom of its bullish structured weekly profile 21 39 Now if we get a close below that 21 39 on friday That's going to suggest inside the russell 2000 that we have a change in trend right now prices just pulled back to support There's also another level of support at 21 52. That's the bottom of its daily profile But it's the weekly right now that is being tested So what do we do from here? So in each case We're back at important levels of support and when we get to those important levels of support You know how I like to operate it, which is what are the intraday time frame signals generating for us? What are they suggesting out here? Do we see any signs of a bottom? So to do that we go take a look at our eight panel chart out here So momentarily we'll have those up on the screen. That's going to be eight little squares white backgrounds out here The es mini is what we're starting with and yet for left you've got the monthly and on the bottom right You've got the three out 300 minute chart. Let's start with the 300 minute chart the five hour chart You have a confirmed Gartley by pattern that happened yesterday with the piercing candle It took place at five o'clock in the evening if we take a look at the yes mini on the 240 minute chart We have a TD nine count bottom the 120 minute chart It still has a by the d-point a confirmed Gartley by pattern We take a look at the 60 minute chart the yes mini has a TD nine count bottom If we take a look at the 30 minute chart, we have a TD nine count and roadsman Diminicator bottom of the still in place out here So the es mini tested and rejected a key a swing point yesterday Did it on lighter volume and each of these charts 30 60 120 to 40 and five hour chart have bottom patterns out there So you tell me Is there a tell here with regard to the es mini and how it should or could or would likely respond to fed paul's Uh release out here I think it is You know, it's I can I can guarantee you one thing the es mini is sending a signal to you and I It is doing everything in its power to try to form a bottom doesn't mean that it will But boy, we have all the signals here inside the es mini that that's what it's trying to do Now the nq has traded back to the bottom of its daily profile So what are its signals generating for you and I this has been, you know, arguably weaker than the es mini So what is it telling us? Well, we have the same eight panel charts out here Why the 30 minute chart is black? I don't know, but here's what we do know Let's start again from the five hour time frame chart bottom right confirmed by the d-point bull sash candle versus a piercing candle still in play 240 minute td nine count bottom the 120 minute chart by the d-point gartley by pattern the 60 minute chart still has a valid td nine count pattern in place trying to generate a roadsman to Mindicator bottom as well and we've got a td nine count and a roadsman to Mindicator bottom on the 30 minute chart So we've got the nq and the es that are clearly signaling to you and I their intention Whether or not they're able to do that Um before we come into the release of the fed we're looking for signals from these charts And they're not telling us that what they want to do is fall apart. It doesn't mean that they can't It just tells us that both the es mini and the nq are doing everything in their power to form Or try to form some type of button now This does not mean that we go take out the all-time highs out there We could but that's not necessarily what it means. It could just mean we're in some type of a consolidation Some type of sideways consolidation out here, but my goodness the nq and the es mini I'm just I'm narrating the chart for you. You tell me. What do you think these charts are communicating to us Well, of course, we don't need to stop there and we won't stop there We'll go take a look at the russell 2000. We'll go take a look at the dow two But what are the charts for the russell 2000 times now? I don't know this. I haven't looked at it I've been gone for for an hour. So if we take a look at again starting over on the right hand side The russell 2000 a five-hour time frame chart. We got no bottom at all out here Zero zilch a 240 minute. We got nothing the 120 minute chart is trying to right now as we speak try to Confirm a roadsman to indicator bottom The 60 minute has already confirmed a roadsman to indicator bottom The 30 minute does not have a confirmed roadsman to indicator bottom But it's trying to the daily is actually trying to confirm a roadsman to indicator bottom But it has the ticket for buying or selling real estate in the bay area Including the surrounding st. Petersburg tampa and clear water 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 call tiger real estate LLC today at 727-329-83222 Or email us at tiger at tfnn.com that's 727-329-83222 call us today The 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 dollars and 50 cents Sign up for david's newsletter the technology insider and get an inside look at everything the technology sector has to offer Try it risk-free today with our 30-day money back guarantee tfnn educating investors Biotech is booming But for how long whether you think the biotech bull has room to run or has run its course trade la bu Or la bd Directions daily s and p biotech three times bull and bear etfs Visit direction investments.com Slash biotech today an investor should consider the investment objectives risks charges and expenses of the direction shares carefully before investing The prospectus and summary prospectus contain this and other information about direction shares to obtain a prospectus or summary prospectus Please contact direction shares at eight six six four seven six seven five two three The prospectus or summary prospectus should be read carefully before investing an investment in the funds is subject to risk Including the possible loss of principal the funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor four-side fund services llc Don't forget you can listen to tfnn live on your mobile device 24 hours per day Go to tfnn.com and hit watch tiger tv Folks i just got too excited and i wasn't paying attention to that clock and uh, i think for a second day in a row Uh got thrown a flag was off sides there. Uh, so we were talking about the russell 2000 and the russell 2000 daily time frame Still has its td9 count bottom in place. We've got a couple of the intraday time periods that have confirmed bottoming signals Out here. It's not as compelling a story as the es and nq, but it's not like it's not compelling out here It's just not as compelling. So let's finish this off by at least taking a look at dow equity future contracts as well So we're already talked about how in the daily base. That's panel number three up here from the top on the uh, Three from the uh, three from the left is testing that green oscillator and changeline. So what do we know about the 30 minute time frame chart? Well on the 30 minute time frame chart I don't have a real clear signal out here. I don't have a a confirmed bottom Pattern or not, but if we take a look at the 60 minute chart Really the same thing not a confirmed bottom signal nor do I have that in the 120 nor do I have it on the 240 Nor do I have it on the five hour chart So the least compelling chart is the one that is the strongest right now What I say the strongest one that hasn't had the least retracement Um For the for the most part out here So now what the dow does have it still has that daily td9 count bottom and if price regain Regains that green oscillator and change line out here. It doesn't really need to form these bottom signals on the intraday time frame charts It's the ones that we're pushing those other levels of support out there. Um, such as the bottom of their profiles like the uh, Russell and the nq and then the uh, espini, which was testing a key swing point that it rejected out there So if you're asking me, which I think you are whoever you are Is there some kind of tell as to how the equity market is going to go? Tell as to how the equity markets May respond to Powell's notes I can tell you that the way that the charts are communicating to us is that we should see a market that ends up moving higher Now how much higher? You know that that I don't know. I'm not expecting anything significant But what I would be watching for that answer would be should the market move higher would be 35,900 level And that's in the ym. That's a td9 breakdown area that level as we can see a couple of days ago That's where price made its way up to found that area as resistance and closed back below It's so that's going to be the real key level to be watching out there So hope that helps you out with regard to the potential tells of the market and soon enough We will see at least by day's end We will see whether or not these charts were correct and what they were communicating to both you and I So what other piece? Well, I do have a request that has come in It looks like two requests. So let's get to those here. I don't want to fall behind like I did yesterday This one coming in from Nancy and Nancy wants to take a look at apple. So Nancy's question is Steve could you give your take on apple, please? Yeah, I can't so let me do this here We got to change screens. Give me a moment to do this Otherwise, mr. Bill is going to bop me upside the head with a two by four and today I really don't feel like getting that bop so to speak Not that really any day. I feel like getting that bop, but you know today I don't really need that so as we take a look at apple I know about apple here. Nancy is that it formed a td9 count top and it did that a couple of days ago and it made that high I know that because I remember checking it out for somebody So now we've got a new profile that is formed out here prices trading with incited So the support level to be watched. I know you've got a valid top That was the td9 count on december the 13th. We'll take a look at the apple I believe that was a bar following bar number nine So support that you're going to watch is 170 93 now on a weekly base I've got an a to b equal cd to the upside no bears reversal candle yet And even if price gets down to 170 93 that might Get to a piercing candle, but might not actually it would be a close below that that would then signal lower price So let's pull over the white background chart. Let's just confirm what stevie said here and boom. Wala We can see the td9 count top now what price is also doing Nancy It's testing that oscillator and change line so very similar to the ym So you got a valid top for price holding a key level of support right now the signal to us and apple is neutral If price closes below that green oscillator and change line that it says 170 93 and below that Then the answer you could see move back to 157 80 That is where apple's most recent td9 breakout level is at here on the weekly time frame Far number nine likely to form this week. That would suggest to move back to the 163 90 So you got 163 90 173 and 157 80 those are the magic numbers to be watching inside of apple But the first the most important one will be that 170 93 level So I hope that that helps you out and Nancy. Thanks so much for writing in Uh, the next question coming in from jeff jeff writes in and says, uh, steve The federal reserve appears that it's going to begin raising interest rates So I had to take a quick swig there Aren't you concerned that that's going to create a a crash scenario for the equity markets? So that's a great question out there And jeff I would I would ask this question even though you can't answer it But I'm going to ask it I'm going to ask that to everybody else that's listening My question to you is Right now with regard to Where is it that you have more trust you have more trust Putting your money into a company like apple. Okay, nancy was calling about apple Would you have more confidence in putting your money inside of apple or some type of debt instrument? Which one do you have more confidence in government or business another way to frame that question? I would suggest to you that the consensus around the globe is that they have more confidence in business Companies corporations then they do government And so the cool thing here jeff is that if we go back in time we take a look at other time periods Where we had that same shift where people distrusted government and trusted corporations out there In those periods when we've seen interest rates interest rates rise that was always good for the stock market It's the opposite It's the opposite of that and what you're insinuating if you have more confidence in government Then you do in business So I would just simply throw the question back to you. Where do you have more confidence now? That's not to say we don't have knee-jerk reactions. We always get knee-jerk reaction But if you're asking me bigger picture If we are in a environment of rising rates, is that going to be is that what's going to be bad for the stock market? My answer would be absolutely positively. No that that's not would call That's it certainly wouldn't cause a crash and that would not necessarily If you if you listen to me over the last couple of days out here I'm a bit concerned and that concern is and this has nothing to do with rising rates out there My concern is that we may have a significant top that's in place Based upon what I look at on the yearly charts based upon and the highs very well may be in Out here So our interest rate is going to be the thing that are going to croak the market Only if you have more confidence in government and I find it hard to find folks that actually say Yeah, I trust the government more than I do corporations out there So that that's my take. I hope that that helps to answer that question Okay, so no other questions that I see at the moment There was something inside the tiger's den Dan I did not get my sense of taste Back of course, many people would tell you that I had no taste to begin with So it's very limited and smell It kind of like it's a beautiful thing. I have absolutely No smell, you know, the easy way to test the smell thing at least has been for me Is to um, it's to light a match, right? Anybody who lights a match, you know, you smell that is it sulfur or whatever it is the components of that? I mean, it's it's an indistinguishable smell So I tried that a couple of days ago just to see if I had any of those smell senses back and the answer was No, I did not so bummer there. I suppose it is what it is Um, yes, saving a lot of not buying air fresheners. Good point there jim. It is too bad. It is what it is So anyways, uh, we'll get back to this break here. I think there was a request to take a look at dvn Uh, and we'll do that for snp steve roge with tfnn. 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That's 877-518-9190 Don't forget you can listen to tfnn live on your mobile device 24 hours per day Go to tfnn.com then hit watch tiger tv That's tfnn.com then hit watch tiger tv Folks, so we're taking a look at Devin Energy. Tiger symbol there is db and what we can see here like a couple of the other charts that we looked at is prices pulling back and testing the bottom of its weekly profile So the key level there s&p is going to be 3827 if you get a close below 3827 That likely suggests lower price now lower prices to where well if we look at the daily time frame chart Price is trading below the bottom of its daily profile. It's got a roadsman to indicator top It could take us all the way down to the 29 21 level at least that is where price broke out from So that becomes an area to watch as we look at the weekly time frame chart. We populate hit Its breakout level is 2446. So the bottom of that weekly profile For Devin energy and by the way, this week is going to confirm or appears that it will confirm A roadsman to indicator top so that level of support of 3827 is a very key level can hold But if it fails boy, that's telling you that Devin energy wants to head lower The other request out here was to take a look at fang fang is the ticker symbol And that is what that is diamond back energy. So diamond back energy right now is trading into support That's the bottom of its daily profile. That's a 101 97 last time we were down here at 2.9 million shares You're already at 2.2 million shares. So it's pushing into this with more energy. Let's pull over the Diamond back energy white background chart. See what other signals we have out here Really not much. So I would say a close below the swing point from December the second that low was 99 52 that could set off and move down to 81 61 That is the td9 breakout level for the daily time frame on a weekly base. So we take a look at diamond back It's got a td9 count top a roadsman to indicator top that suggests move to 9402 That's the top of its daily profile. So fang looks like it wants to continue to move lower the confirmation of that I would say would be a close below 99 52. So snp. I hope that helps you out Thanks much for your patience and writing in folks. The fireworks should begin in about four minutes or so And we've got a great director of fireworks. That's david white with the power trading hour tomo bryan He'll take us on home and I'll be back with you tomorrow on terrific thursday. So have a wonderful wednesday folks Thanks much for joining us. We'll see you again soon