 The following is a presentation of TFNN The Traders Edge with Steve Rhodes Toll free at 1-877-927-6648 or internationally at 727-873-7618 The Traders Edge now Steve Rhodes Good afternoon folks welcome to the September 28th a terrific Tuesday edition of today's Traders Zed 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 yeah let's make sure we have an extraordinary one and the easiest way to do that is to always remember that life is happening for us not to us that's right when you when you and I make that one little two by four shift well means we can find the gift in every set of circumstance that life is going to toss at us now today you and I we're going to go check on the circumstance of these markets we'll go figure out what those bulls and bears what those buyers and sellers are communicating to you and I just passed one o'clock in the afternoon and I want you to know I am absolutely grateful for your presence here but more important than that and 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 on in 877-927-6648 if you can't dial in go ahead and send me an email just like David and John here have sent it to Steve at TFNN.com and inside that subject heading please put a radio show question and in our Tiger's Den any ping will do so let's go ahead and get this show started on terrific Tuesday of course this is Tiger financial news network I'm Steve Rhodes welcome to last show right now we've got all the US embassies trading the downside the Dow off by 555 points the S&P 89 the Nasdaq 100 418 Russell's off 42, Semai's down 121, Trendy's 125, New York Stock Exchange is down 272, the Nasdaq composite off 400 points about two and seven tenths percent to the downside spot politics up by 26 percent right now she's trading out at 2376 you know to be watching for a one-day rate of change above plus 10 percent you would do that in combination with trying to identify some type of bottom and the intraday charts for the ES mini preferably the 30-minute time frame chart but you got to look at a couple different time frames out there the XAU is off 20 cents only a one two tenths of a percent while we've got gold down about one percent nearly eight tenths nine nine nine tenths 15 bucks trading out at 1736 silver down 21 cents both well Silver's rejected a level of support and gold right now is testing the key level of support lights recruit up 27 pennies she's trading at 70 56 natural gas up seven cents trade down at 577 and a 30-year treasure off one full point and eight ticks trade down at 159 14 dollar wise the leader of the upside is fact set research up 16 bucks for an F percent and Dava PLC is up nine bucks or seven percent Thor Industries up nine close to nine I'm just rounding here seven point eight percent United Natural Foods up 21 to the downside is Google up 111 bucks about four percent Amazon 105 three percent Mercado 3 by 92 82 that's four and a half percent Shopify 78 five and a half percent in Chipotle down three percent sixty three buck a runny so let's do this here let's start by take a look at general markets both David and John wrote in about Moderna MRNA is a ticker symbol so we'll certainly take a look at that but let's just begin by stepping back for a moment let's take a look at the markets what are they communicating to us so the first thing is as we take a look at this is simply a weekly timeframe chart you've got the NASDAQ in the upper left the S&P or the ESMini in the upper right the Dow lower left the Russell 2000 is in the lower right now it's a weekly timeframe what we can see right now is the NQ is testing that key level of support that is the bottom of its weekly profile 14802 the NQ will need to close below that level on Friday not on Tuesday but on Friday to confirm some type of change in trend if we take a look at the ESMini next to it how do we come up with developing that theory well all we have to do is take a look at especially since excuse me especially since the move off of the 2020 bottom any type of retracements have found support at the bottom of that weekly profile Pearson it doesn't do it it's got to be a close so right now the ESMini is trading above the top of that profile so for the S&P 500 there is no change in trend signal a close below 431240 4312 will just simply call it on Friday different message in the case of the Dow where did my data box go that's interesting let's see if Steve can find it or is it just there we go so what's what's the deal here what's the deal should be on there we go it's pulled over sorry about that folks just a little technical glitch here so the Dow equity future contract the key level there is 34276 you're at 34179 as we speak right now in the Russell 2000 is like hey I don't know what you guys are doing back there now with regard to what the guys are doing the guys and gals out here first we're in a consolidating market here are the consolidations you can see the consolidation the NQ the ESMini the same type of chart that we looked at but just simply clearly articulating and identifying the consolidation patterns that we're in so we want to certainly keep an eye on the NQ because it could be the first one instrument to indicate a break of that consolidation level out there consolidating markets that's what we are in they are difficult to trade they offer opportunities for both buyers and sellers especially intraday what else should we look at is there anything else of really of significance out here I ventured to say no not necessarily let's go back and and restate or reshow you or simply show you the chart for the spotball tonics the blue lines or the blue arrows they represent those one day rates of change above plus 10 percent so the key here to this pattern let me move this off one of my screens let me get that over here and then let me get this set up to a move over to the intraday time period so give me a moment here equity future charts you know I probably should have just oh well too late not really too late so let me just switch screens here and what we're really looking for and it doesn't have to be at the end of the day it can start intraday I know it can start at 115 could really start at 130 out here but here's what we know so we're taking a look at the for equity future charts so this is what you want to be taking a look at certainly come this evening end of the day out here that's if the market finishes poorly we don't know if it will or it won't don't have any indications that it won't at this stage here but what you're looking for specifically in the for equity future contract but with regard to the spotball tonics index trade out there you're really focused on the ES mini so I'm just going to open up the ES mini right now and in fact what I can do or I should be able to do is go back to that last uh to give me a moment here if you would I'm on a different screen than the one you're looking at and so the ES mini that was on the trading day of September 20th let me see if I get back to September 20th oh I can here we go so let's uh let's pull this so I just want to show you and the ideal pattern would be erosement of indicator bottom but any any type of bottom you know an a to b equal cd a a td9 count but what you're looking for and if I could show you that the each of these four equity futures charts going back to in this case here the actual bottom came in at 2 30 uh 3 30 in the afternoon that was on September 20th so what you're really looking for you're looking for both this type of pattern again preferably the erosement of indicator signal uh and then a bullish reversal candle and then a close above that oscillator and change line and that would be your signal of some type of rally now some type of rally we'd have to go back and figure out where resistance levels are or price targets so now let's just fast forward we don't have that pattern as we speak right now we do have bar number eight of a td9 count that is forming we won't get that confirmation until we close out the show at 2 p.m but the lower low could take place between 2 and 2 30 as well on that pattern but certainly that is something to look at um and you're looking for that quite frankly on all four equity future contracts at the same time steve rhodes with tfn we'll come back we'll take a look at this and the other patterns that are present to the nq russell 2000 and the gow 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 it 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 tfn 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 that's right information having all the information gives us the perspective we need to place the right trades at the right time the task profile scanner is the premier market profile base scanner powered by its acclaimed task proprietary algorithms this feature rich scanner instantly filters over 2,500 plus global financial markets such as stocks 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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 tfnn.com or on tfnn's youtube channel and become the investor you were born to be tfnn educating investors call now toll free at 1-877-927-6648 internationally at 727-873-7618 right down mr bill you're right on that answer out there thank you uh so we're taking a look at the for equity future contracts these are the 30 minute time frame charts we can see here some consistency with regard to bottom signals each of these are in bar number eight of a td9 count we know that uh lows or bottoms in this pattern can form on bars eight nine now you got to form bar number nine born bar number nine has to be a close below bar number five out there so that's the first thing and uh we should have a feel for it as we get off the year hopefully i don't know what we'll be doing but we'll try to peek in on these charts here so remember in order for the td9 count pattern to form out here it's not this bar that's important but it's going to be the one between 130 and 2 and so those closes need to be below the close of bar number five otherwise those patterns get negated now in the case of the nq let's say that it doesn't do that it already has a rogement and indicator signal that is triggered so that would be its valid bottom it may uh approve to be both but the question i ask as i was looking at these charts here uh during the break and i asked this inside the tiger's den is what price level does the nq need to close above to suggest to us that it's more than just a dead cat bounce on a 30 minute time frame chart mr bill came back and his answer in his response and was accurate was 14870 approximately well 1486880 and that's what he was looking at was the top of the profile the reason that that is so important again we're just looking for patterns we're trying to understand where buyers and sellers are positioned and the level of strength or weakness that they have well in the case of the nq as an example let me get my crosshair out here at 630 this morning we had bar number nine form of a rogement and indicator signal and if we take a look at and price just moves sideways out there there was a new profile that formed at 8am and still had that valid bottom where did price run into resistance the very top of that profile so that says to us not just does price need to close above the oscillator and change line but inside the nq the level to be watched now these profiles may change so if you're looking at them at 320 i won't be able to tell you what they are whether they've changed but if price is trading above 14869 14870 out there a close above it not traded above but a close above it on a 30 minute basis that then says okay rally on at least relief rally and that could take price up to the 15191 level inside the es mini we had really a similar type setup we got to wave number seven that's letter g courtesy of basal chappan out there again a new profile formed at 8 o'clock where the price ran and run into resistance the top of that profile now in this case here for the es mini we don't have a profile that price is trading into so does price need to close above 4406 before you would get a long trade know what I would do is I would put this together with the nq out there it has a td9 count bottom potential but again that needs to see a close below 43 51 on that 130 to 2 p.m. bar that would form out here so with regard to being able to interpret what the 30 minute time frame charts are communicating to us I believe the nq is the one to really keep an eye on with regard to whether it's just a counter trend move which would then run into resistance at the 14870 level or a close above that says okay we're ready to rally on and at least have a larger at a minimum relief rally now it could be more than real relief rally because we're near the bottom of those weekly profiles inside the nq and the dow equity future contract so I hope that helps you out with regard to what to be looking for in anticipating and part of this is just assuming at this stage here that you'll see a spot ball of tunics with a one day rate of change above plus 10% that may not be the case when it comes to the 4 p.m. hour so that's one of the things that you would look for now we had a couple of questions that have come in one inside the Tigers then was to go take a look at the GDX that was for SNP and so let's go take a look at let me do this here give me a moment to get over to some charts let's change the screen that we're sharing together and let's just change it to my black background chart screen and I'll pull over the chart okay so in the case of the GDX we'll pull this over here and as we take a look at it we're going to see that today is going to become bar number nine so this is going to be a completed TD nine count we also see that the price is getting stretched generating that road momentum indicator signal out here tomorrow can be the low of the pattern so you could see SFB you could see a lower low tomorrow and the pattern would still be validated now I don't know if we'll see a lower low tomorrow but what the lowest low today's low or tomorrow's low would be the key level any price below whatever the low of that pattern is would then negate this signal out here but in the case of the GDX you do have a TD nine count pattern that is going to set up as we speak today I'll pull over the XAU you'll see symmetry here we don't always see symmetry but we certainly see symmetry today with regard to its patterns here we can see prices also moving lower doing less relative energy you've got a TD nine count bottom that is going to form today not likely will the XAU close above the low of bar number five which is not the low but the closer which is 120 270 so what do you need to see in the XAU to confirm a bottom out here well I would say close above the oscillator and change line would go a long way to supporting that TD nine count bottom pattern so SNP in the Tiger's Den I hope that helps you out with regard to the GDX and the XAU there's anything else that you need just please let me know let's go to our next question this one coming in from two of our folks via email let me get to there is one is from John O and the other from David H David says do you think we're in a Moderna will head below for the 50 day exponential moving average by 10 five so we've got let me see here let me get to our three panel chart there are three time frames that's the cues let me move this over here a little bit easier let's get out of the cues and get into MRNA Moderna out here see what kind of signals we've got and while that is give me a moment to find my other set of charts that I can pull over momentarily okay so there's really we've got a bull in a bear out here so let me read both their questions this is from John in Denver and John what's called you John Denver how about that I like that John says in general you saw massive put options to drive myrna down to 375 you got within one point of that or it got within one point and you bought a small position at 370 you see any possible movement back up to the 400 area and the answer there is yes so I'll just simply answer that immediately while we're taking a look at that and the answer the reason why I would say yes that that is a possibility John is Moderna is trading with inside a slightly bullish structured profile price got down towards the bottom of that profile it got into because it's bullish structured profile the support level would be between 373 and the center of that profile which is 388 so in essence it's done that it's tested that resistance is 40870 I don't have any indication so your question was is do I see any possibility of this moving back up to 400 hey if you can't bust them down price will try to bust them up so the answer there is yes but if you see a close or suddenly two consecutive closes below 373 that suggests lower price and in this case your lower price would be 355 78 that's looking at our black background church now let me take a look at David's question because I think David is the bear out here hey Steve do you think Moderna will head below the 50 day EMA now I don't know where the 50 day EMA is on this and you say by October 15 but the answer to your question wherever that is and I don't want to I don't want to take the time to put that tool on the chart out here I don't think that is important at this stage we know that it's below where price is trading and so David both David and John in order for that to happen you need to see a close below 373 so that's the that's our take on Moderna at 126 in the afternoon Steve Rhodes with TFN would be back in about three and a half minutes are you having fun trading the markets but having trouble finding like-minded 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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 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 welcome back folks i take a look at this little rocket ship united natural foods uh don't know what they cured but uh pig huge wide ranging bar traded from about 39 to 46 bucks out here that puts price above its daily weekly and monthly profiles at this stage so that is in breakout mode this is for pat inside the youtube channel so i don't know what pat's question is um asking the move for a new tube asking the move for unfi so i again i don't really know what the clarity of between behind that but if your question is where is this thing headed to um that's a great question do i have the answer to that only got the daily and the weekly so the daily and weekly charts there's no signal of any kind of a topping pattern as we speak today uh so let me come back to this bigger picture out here and see if we can give you any kind of assistance as to where price might be headed to so um i'd have to say i'm just going to pull this back here the logical outcome is that price is making its way up into this $50 area at 46 41 so the prior swing points were price turned down this looking at a monthly time frame chart was in july of 2016 and that was at the price about 52 18 then back in december of 2017 it was 52 69 so pat i don't have anything here to suggest that price is not going to do that same thing now if it can clear that then united natural foods can get all the way back into this is over time obviously this is a monthly chart that we're taking a look at the right hand panel back to its 2015 highs in the 83 dollar area but a big move inside of united natural foods a big volume behind that move as well out there so pat thanks for listening in on the youtube channel and i hope that that helps uh via the uh via email i think we've got a request out here we do this is coming in from tim and tim m says he's long square sq is the ticker symbol out here so i'm long square wondering where support is for the daily weekly time frames should i stay or should i go well support from a profile standpoint that's well first to respond to out here tim on the daily basis at 244 45 that's the bottom of its profile however what i can see by just taking a quick peek to the left is on the trading day of march of march of september 13th i believe that was friday the 13th i don't know if it was or not but september the 13th that probably wasn't friday the 13th but on september 13th that was a hammer candle so your real support level is going to be 237 91 if price closes below that then we probably have an a to b equal cd to the downside now at 235 17 that's the top of its weekly profile so what i suggest that you jettison this position right now i don't know where you're long from so it's hard for me to say but i would wait that now price is pulling back in the hammer candle with more volume that had 7.8 million shares you're already at 7.1 million shares nonetheless the hammer candle is an important candle to be paying attention to from a support level because the expression is if you're closed below the bottom of a hammer candle if you're long you are wrong no charts you don't see the charts mr bill right now you should see square it's white background chart out there tell me you see it please i'm just taking a swig here anybody see the charts white background chart nada oh my goodness say guys in the production room um hopefully you're listening in can you you see charts s and p uh we've got two that say yes three that say yes i'm sorry mr bill i'm gonna have to keep a rolling around here maybe check out tiger tv uh so we'll take a look at square you can see that hammer candle there's a white background charts out there and uh so that's the real key level now price closed below that i'd mention a to b equal cd to the downside where square would be targeting would be 209 80 that is its td9 breakout level that's coming from the daily chart the weekly chart out here as we populate it uh this uh formed a td9 count top and price basically has just been consulted it's above the top of its weekly profile but below its oscillator and change line it really is just a consolidation pattern out there so no reason to really jettison your position the monthly time frame chart as long as price holds the green oscillator and change line which is where it's trading right now that would indicate there's no reason to jettison the position out there and that is in square so watch the bottom of that hammer candle that's going to be your key low and again that's a 237 91 so tim thanks for writing in i hope that helps you out the next question coming in from rose and rose from new york because she called but couldn't stay on the phone that's okay we'll go ahead and take a look at what she was interested in and that is ticker symbol cc xi that is chemo centrics it's trading out at 1979 man what an ugly looking chart on the trading day of um september may the fourth out there and it wasn't much better for the next couple of days because this thing fell from grace 48 bucks got down to a low this is in three days 48 down to 955 that is a gigantic move well that's what it did in the past we don't want to be a prisoner of our past do we well if we take a look at what this is doing on a daily basis above the top of the daily profile above the top of the weekly profile and approaching the top of the monthly profile that's at 21 68 so rose i don't know what you were looking for out there um but 21 68 is the next price target to the upside unless we see some kind of um topping signals let's pull over uh some of the other charts out he looks look at the daily time frame chart so nice move but what does that move showing us well that move shows us that today is going to become bar number nine of its td9 count the last bar number nine of the td9 count that formed out here on september first what did that do rose that took uh price all the way back to support that was the bottom of its profile that was on september 13 and that it has moved up since then and since then you now are bar number nine of a td9 count that says that today or tomorrow could be the high uh and if we do see that that is the case what you should expect and anticipate is a price we'll move back and test that green oscillator and changeline it's currently printed at 17 71 that is not the level where price would test it uh but you know we just simply have to monitor that so you do on a daily basis have the potential for a pullback if you're looking to get in on this wait for that pullback and look at that 17 71 ish type area on a weekly chart i don't have any kind of a bottoming signal i'll just go to a 30 minute time frame chart we're in wave number seven that's letter g you do have a rogment to mitigate or top that's been confirmed but what has not occurred is we have not seen price closed below that green oscillator and changeline and that's really important so this is really a neutral signal on its a 30 minute time frame so wait if you are in this position just anticipate a short term top if you're looking to get in rows wait to see how this td9 count pattern plays out and pulls back to support and again that first level is around the 17 71 area so thanks much for calling in much appreciated another question that has popped up here this is from hector and the fuel injectors and hector wants to take a look at happy taco tuesday hey back at you uh please work an abc down on the gdx monthly chart sorry about that a little thirsty had to take a little swig of water that's a technical term that we like to use around here oh look at what hector is looking at so hector is saying hey you know what steve price right now is trading below a swing point on a monthly basis what would that if that is an a to b equal cd to the downside and the swing point is from march let me get my data box out here from march would have volume of 499 million shares you're at the 28th and you are at 437 so what does a gdx do on a daily basis on average just kind of curious uh you did 16 million yesterday 14 million a day before 28 26 so let's say it could do about 50 million shares let's come back to the weekly chart out here so if we had 50 million shares to where we're at from a oh that's the weekly chart you wanted the monthly hold on a minute here uh we had 500 million 50 still going to be lighting the loafers on a volume standpoint but nonetheless hector when you get back in this break we're going to draw in that a to b equal cd to the downside because you asked for c roads with tf and a are you in the market 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 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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 tf and n live on your mobile device 24 hours per day go to tf and n dot com then hit watch tiger tv that's tf and n dot com then hit watch tiger tv the monthly time frame chart for the gdx courtesy of hector and patty and hector says hey could you draw on an a to b equal cd which we've drawn in right now the a point is going to be up at 45 78 the high of august 2020 the low is going to be the b point that's march of 2021 that's at 30 64 and retracement for a couple of months into may of 2021 and that's up at the 40 13 level that gives you one to one a to b equal cd to downside hector price projection 2499 now if that is going to happen then what you should see let's come back out here we should see a tv nine count bottom form today a td nine count form we don't know whether it's a td nine count bottom just yet because a lower low could take place tomorrow so hector if the a to b equal cd to the downside is going to take place on the monthly time frame chart then you need to see this td nine count pattern fail so i would say that would be a clue for you to take a look at so more to come you know probably on thursday we'll have a better feel on thursday when we take a look at what the gdx is doing because it's got that valid potential for a valid bottoming pattern out there so that's the first thing the second thing that we were on to pay attention to is what's going on inside of gold us dollar and silver out there because they're certainly going to affect the miners so we'll start from the right to the left the right is the us dollar index we'll spend a little bit more time if we have the time today take and look at the us dollar index because it's really the great british pound and the yen that are putting the strength inside of the us dollar so we want to understand if those things are at support levels or resistance levels depending on how we're taking a look at the chart but right now the us dollar index is up at its key resistance point that's at the 93 73 level or 93 74 will that hold i don't know step back to the left take a look at the chart for silver silver yesterday confirmed erosement and indicator bottom it is not shown on this chart out here so you have to trust me on that but i would have no reason to lie and silver tested rejected the support level of 2209 what silver has not done has got back inside any kind of profile so if there's going to be a move to the downside silver or not get back above the 2277 level that's the bottom of its weekly profile if we take a look at gold gold right now is threatening to negate its currently by pattern its currently by pattern formed under trading day of september the 20th i did that with a key reversal bar that sets up your support level of 1742 30 if gold closes above that today and again you looked at a monthly chart we looked at a monthly chart in the gdx now we're looking at daily timeframes you know two types of different type signals out here but nonetheless on a short-term basis these are levels that price needs to close below 2209 and silver and 1742 in gold in order to say or suggest and the us dollar probably needs to close above 93 73 to really suggest that the uh the move to the downside is in place out here but the interesting thing is what is interesting i don't know what the interesting thing is there's a question in the tiger's den gdx reaching 0.618 off the september low abc could that be in play to absolutely it most certainly can um and so i have to go back to the gdx chart which we will as we do this live and uh so the gdx you're saying off the september low so let's come out here you imagine you're looking at a daily time frame out here no september low where the heck am i reaching 0.6 when september 2018 okay now you're not looking at a daily time frame so we come back here so us let me uh get to that so here's what you're you're talking about the september low why didn't you use the march low oh that's 2020 oh you're really going back okay uh so what you're looking at that just pulled back so that's the september now i got to january 2016 oh you're yeah well so i i wouldn't be using that september low dan so dan and boston the reason why i wouldn't use that as september 2018 is because you have a lower low in march of 2020 so really i think the appropriate not that it's going to be a significant difference here but it would be that i would use the lower of the lows that are out there to um you know come up with a retracement level so here's the retracement from that low that i'm referring to back in march of 2020 up to the high in august of 2020 and the 0.618 level is 2765 so yeah that could be an area where we would see some type of support out there but what we have going on right now that's cool is we have some daily bottoming signals out there and so with those daily bottoming actually i don't think i caught it exactly right but it was about that area out there and that is right now because of the td9 call pattern that is forming in the gdx you know by tomorrow we may have more information but certainly by thursday we'll have really a uh a fairly decent clue as to what the gdx is doing out there now there are several instruments inside the gdx that are also you can't get to a gdx bottoming signal td9 count pattern without some of the instruments within side the gdx also showing those types of potential bottom signal so what you really want to do as an example and this is really for only for hector's eyes just kidding but for example newmont mining is the number one weighted equity inside of the gdx as we take a look at newmont mining what do we see out here well the last two days were doji candles so that becomes pretty easy for a bullish reversal signal to form we've got that you've got a bullish engulfing candle it's engulfing the last three trading sessions will this become bar number nine it's only becomes bar number nine today inside of newmont mining if price closes below 5465 and you're at 54 59 right now but it doesn't matter you would have a rogment of indicator bottom signal out there so the number one equity inside of the gdx says uh i'm getting ready to bottom but price has to take out resistance that would be 55 71 to say it's a bottom of significance that was the first instrument if we take a look at the uh rand gold out here a barricle gald is the ticker symbol do we have a bottoming pattern uh we don't just yet but it could generate a bearish a bullish engulfing candle today and that would then go ahead and confirm a rogment of indicator signal price would need to close up at 1822 in its instance to suggest that there is a bottom so those are your two top weightings let's go to the third one out here hector and as we take a look at the third one you take a look at franco nevada and what is franco nevada doing well today is going to become bar number nine of a td9 count that td9 count is occurring above td9 breakout support at 122 53 so there is some real potential for the mining equities to form some type of uh bottom now not each of the holdings inside of the mining sector show those same kind of patterns out there but certainly the top three do and it's a reason for us to pay attention out there so hopefully um and really these equities have held up well considering you've got gold uh back 16 bucks right now in the strength of the u.s dollar so i don't know if that is something to think about or if it's just a fake out but uh we're going to pay attention and try to figure out what it's communicating to both you and i um but just looking for other requests out here i don't see them i think we've taken care of everything inside the tiger's den uh real quickly as long as my uh nope that's not where the charts are at uh let's go back and take it just as we go into this last break that we have out here let's go back and take a look at uh those equity future contract charts the short-term time frame chart so let me just change screens right here just to get an update on what's going on as we come into that two o'clock witching hour out here so we've got the 30 minute charts out uh what kind of signals do we have out here looks like steve's got to populate it um so no td9 count that got to void it that got validated at the 130 so that's not a pattern that's in play out here not in play in the nq either just the roads meant to mindicator signal steve roads with tf and n will be back in just a few 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 tf and n you'll get advice and guidance from the authority and 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Petersburg florida your investment can be anywhere from one hundred thousand to five hundred thousand you want to make one thousand per year on a hundred thousand dollars invested a seven thousand per year on a secured tiger first mortgage the target first mortgage program may be just the program for you the target first mortgage program pays seven percent per year paid monthly for more information you can call eight seven seven five one eight nine one nine zero that's eight seven seven five one eight nine one nine zero 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 so we're going to finish out the session likely just take a look at the 30 minute time frame charge or at least the next minute or so as we go into the close and the reason that we're doing that is because of the one day rate of change that is currently present in the spot follow till next right now even though you can't see it on the chart I can tell you it's up by 23.67 percent if there's a one day rate of change above plus 10 percent especially if you're an intraday trader out here I don't care whether you're short the market what I want you to repair for is some type of bounce and it could very much be a tradable bounce that would be out there so what are we looking for well what we're really looking for is what we saw inside the nq out here you'd like to see it happen with all four the pattern is only present right now inside of the nq and that's the road's momentum indicator signal that's the best signal for a bounce or bounce with significance why because when a market gets so stretched that the rubber band has to snap back are we going to get that I don't know whether we're going to get it I know what to be watching for this what you'd like to see as a pattern inside of all four equity future contracts so for me what I'm trading especially when it's late in the evening and early morning when I'm likely to sleep is I'm looking for confirmation from all four those always produce the best now if you get three out of four okay that's better than two out of four but preferably you'd like to see that type of pattern occur in each of them well when we started the show we had TD nine counts that were present but remember only bar eight had formed and that bar simply violated the pattern so we do not have a TD nine count bottom inside the ES many door we have door nor do we have it inside the Russell 2000 it is still valid and applicable inside of the Dow but you know two out of four to generate bottom signals that's not really what it is that you're looking for you're looking for all four of them to generate some nice bottom signals that might not take place until you know eight nine o'clock at night out there but that's what you should be looking for if you don't get those bottom signals then it may be a signal that this one day rate of change above 10% is going to work tomorrow the 30 minute charts or the intraday charts will show bottom signals if there's going to be a bounce out there and that's what you should pay attention to folks stay tuned for two more fabulous hours your favorite polar bear david whites up next with the power trading hour tom o bryan he'll take us on home i'll be back with you tomorrow and wonderful wednesday have a terrific tuesday folks