 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 day folks welcome to the November 12th the fantastic Friday edition of today's Trader's Edge show I'm your host DV 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 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 and I make that one little two-by-four shift 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 past 8 o'clock in the morning that's right if you're listening at the normal time thanks much for doing so we'll make sure that we make this show as pertinent as we can for your listening hour at 107 in the evening but our afternoon but right now it's 807 in the morning so we're doing the show which is great for me it's great so look I would see if you're listening and I would absolutely love to hear from you got a couple different ways for that to happen he gives called 877-927-6648 if you can't call in you can always send me an email send it to Steve at tfnn.com inside that subject heading if you would be kind enough to put radio show question that would be greatly appreciated of course inside our Tiger's Den will take anything public or private out there so let's go ahead and get this show started on fantastic Friday of course this is Tiger financial news network I'm Steve Rhodes welcome to less show right now 808 in the morning we've got all the U.S. Indies feet all the U.S. index futures pointed higher the dow is up 86 points about a quarter of a cent the S&P about 32 by the Nasdaq 32 points about two tenths the S&P seven half points nearly two tenths and the Russell 2005 that is two tenths the upside spot politics of trading below its 50 day exponential moving average that's number one important fact here to know so if you ask me how do I begin my day by when I begin my day that's really what we're going to go through right now because what you and I are going to try to do is interpret the message of the market so that's what we'll do during this first segment here and then this will certainly be applicable to your listening the afternoon so you'll see get to kind of get a feel for what Stevie does this is really the first screen that I take a look at the morning when I come into my my little cave out here and just get a feel for what went on so here's a little and of course we do this by interpreting price and the charts which we'll get to momentarily so what do we know about Asia last night all their markets closed higher Asia closed higher Australia closed higher what we know about Europe it's mixed right now now for Europe I'm just taking a look at the German Dax and the FTSE out here the FTSE in the UK Dax is up 19 points FTSE is down 34 we're going to go figure out exactly what that means with regard to commodities we can see that gold and silver are trading lower six bucks in the case of gold 1857 310% silver off 20 pennies that's 810 straight out of 2509 Platinum is down 13 bucks palladiums up off $8 copper is pretty much flat out here lights we crew back a buck 17 we'll figure out what that means natural gas off 11 cents she's trained out of 503 30 year treasuries up five ticks trade out of 160 130 US dollar index is back just a tad I've got a 10 minute delay on the US dollar index out there so that's how I begin the day first take a look at the screen really I have four screens here so that is kind of a lie to say I'm only looking at that one screen but this is one of the screens that I begin with the second screen is really trying to interpret the data as to what it meant in overnight trading so we're going to go ahead and switch over to those screens because we are really in a one world market so we need to understand what's going on in Europe in Asia and so we begin by the upper left-hand panel chart that is the Shanghai the Shanghai put in wave number seven that's letter G that you see in the bottom my screen that's courtesy of the basal Chapman Chapman wave now it's such a small part of the Chapman wave I do recommend that you take his courses and learn that because he's got some great tools out here so this is not really the Chapman wave it just one element of which is wave number seven and a guy by the name of Sarah Toga Bob in the Tiger's Den I think was the first one to really take a look at that seventh wave move on any time frame and notice that most times it provided a top or bottom signal here in the case of the Shanghai generates a bullish hammer candle telling you the markets trying to hammer out a bottom it is not a it is not a titty nine count bottom out there the load did not take place on bars eight nine to the bar following nine but you've got wave number seven what we know about the Shanghai yesterday nice nice follow-through bar after that hammer candle but the close above that oscillator and change line suggests to move up to the next resistance level which for it would be 3762 31 not a guarantee that price will get there it would be more of a guarantee so to speak if that oscillator and change line were green it's red tells its price oscillator is still below zero but nonetheless a further rally countertrend or otherwise should make its way up to that 3762 so I know the Shanghai in essence has given us a bullish message we know the hang saying is also generated a bullish message it does have a valid TD nine count bottom out here the low came put when I say the low the low that held we're looking at the bar following bar number nine and even though that level was Pierce it was pierced a couple of days ago doesn't matter it's just that that low held support had held no price here is also above its oscillator change line it is red not a guarantee but does suggest that price should go make its way up to its TD nine breakdown resistance level 26234 so the Shanghai is saying I want higher price the hang saying is saying I want higher price the Nikkei now is also saying it wants higher price now the Nikkei has formed an A to B equal CD pattern last night price got back above its green oscillator and change line that is a more bullish signal and so this suggests that price is targeting the 3600 area so we've got Asia which is weaker than the US indices out here they're all suggesting that they want higher price hmm something to think about well now let's go take a look at what's going on over the DAX and the footsie the DAX is an ADB equal CD to the upside pattern out here it had a TD nine count atop that's that blue horizontal line going across my screen and yesterday price closed above it the DAX and the NASDAQ composite have a got have a very good correlation we'll take a look at that momentarily so knowing that they have a correlation and those of you that have been longtime listeners you've seen that correlation so you already know that answer so we've got Asia saying it wants higher price the DAX is saying it wants higher price out here the footsie is also saying it wants higher price it's above its oscillator on change line we don't have any kind of a topping signal that is in place out here it does have wave number seven so much like the Shanghai had a wave seven bottom but the problem is we won't get a confirmed wave seven move until we see a lower high and that is not the condition that we have present today so therefore it's suggesting to us that it too wants to move to higher ground well so is the US dollar index the US dollar index took out its a rogement and indicator top that was based on the last one formed out here a few day about last week a shooting star on November the 5th to be exact that would be exactly last week that would be last Friday and when price closed above that a couple of days ago negated it yes you can still see those triggered rogement and indicator signals but that doesn't mean it's a top you need some type of bearish reversal candle to confirm that so this stage here US dollar index as it wants to move higher the euro says it wants to move lower the yen has a TD 9 count top that is still in place and it's found resistance at the top of its add its oscillator and change line so from an equity standpoint the Asia says it wants higher price Europe says it wants higher price even though the footsie is pulling back of it that doesn't mean that it doesn't want higher price this means that it's pulling back and prices above that oscillator and change line okay so that's one way to start today I now I have a better perspective or you should also have a better perspective of what the message is around the world are communicating to us now we're gonna go try to figure out how does that impact US trading out here and how you can plan for your day or those of you listen at 114 thanks much for doing that but maybe this will give you a perspective on maybe something you can take a look at to improve your trading Steve Rhodes with TFNM will be right back what's separating you from the most successful men and women on Wall Street that's right information having all the information gives us the perspective we need to place the right trades at the right time the test profile scanner is the premier market profile 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 ETFs commodities futures and forex this powerful suite of tools leverages instant trade filtering and strategy formulation to show 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So we're taking a look at the DAX now our second time to take a look at the DAX out here and the reason I wanted to do that is I don't want you to I don't I want you to you know Larry Pesvedo I love one of his phrases out there which is do the work yourself and certainly that's what I'm doing here so don't trust anything that I say go back take a look at it don't trust anything that anybody says go back and do the work yourself and see what the results are well in this case here I shared with you that the DAX and the NASDAQ composite have a directional correlation and that's a tool that we're taking a look at right now the bottom panel is so what you don't see here is the third chart which is the DAX option which is the NASDAQ composite but that's really reflected down below you can see here where I've got correlation in the data box tells you it's got the correlation of the NASDAQ composite so that way you know what it is that we're taking a look at this looking at a directional correlation that's all that it's doing when bars are above zero it tells us that there is a directional correlation this is a 10-day average that I'm using I typically people use a 20-day average on this but I've got a 10-day out here so you can when bars are below zero that tells us that you've got an inverse correlation so we've established the directional correlation that's why it's important to take a look at the DAX and understand what it's doing and now knowing that yesterday it negated its topping pattern not that it doesn't have another one that it could set up but it doesn't have that in place today and so yesterday's close above 16.064.79 suggests we should be anticipating or looking at a potential bottom in the U.S. market as well all right what else can we take a look at well we should always go take a look at what that spot volatility is doing right that's the next level we want to understand where's the spot volatility X trading in relationship to its 50-day exponential moving average well what we can see here is yesterday we saw a slight close below that level that level yesterday was priced at the 50-day is what was 1775 today we are at 1773 prices below 1773 what does that mean well the interesting thing about being able to assess and interpret the message of the markets we can use that 50-day exponential moving average on the spot volatility because for the most part generally speaking this chart here tells you that I don't have everything boxed in out here just because it just haven't taken the time to do that but you can do this the bottom panel represents the spot volatility those yellow boxes and green boxes the yellow box are identifying us to us when the spot volatility next is above its 50-day expense moving average there we expect a sideways to lower move and the green boxes are showing us what the price activity looks like when the spot volatility is below its 50-day expense moving average their sideways to upward move well so right now as we speak at 820 in the morning I don't know where we're at at 120 in the afternoon but that'll be important to interpreting the message of the markets at that point in time so it doesn't matter what it is of course the close is going to be the key here but as we speak at 821 in the morning this signal is suggesting to us to expect and anticipate a rally what's another thing we can look at well to understand the message of the markets and this is what I go through in the morning as I prepare or writing the newsletter offer folks so they'll see different time frames when I begin taking a different segments of the newsletter and all I'm really doing there is in my mind summarizing what the message is communicating to us and I can share that with them you know in a summary on the top of the newsletter so here we can also look at the New York Stock Exchange advanced decline oscillator the advanced decline oscillator that's panel number two is measuring the difference between the 19 and 39 day exponential moving average of the advanced decline line boom now I know that that's a mouthful now but it is a mouthful and it's a good mouthful yesterday or two days ago so on this is Friday so on Wednesday the advanced decline oscillator pushed just below the zero threshold level you know if you listen to show you know Stevie believes in periods of two you need two consecutive closes above resistance two consecutive closes below support in order to confirm a signal well it turns out that inside the New York Stock Exchange and its advanced decline also that is exactly how it works out here one day below the oscillator and change line does not generate the signal it generates the potential signal the real signal comes on the following session and yesterday price closed above the advanced decline the zero left threshold level on the advanced decline oscillator that says that buyers were always in control of the market so here's what we've got here we've got the asian markets say they want higher price the european markets say they want higher price the spotball of tunics says the s and p should continue higher the New York Stock Exchange general market that you know the general larger market out here says that it too is in bullish mode out there so now we're putting together those pieces what is the next piece of the puzzle that we should look at well regardless of that we should see what's going on inside the u.s markets from an from a you know for at least from an interday standpoint that's exactly what Stevie does so what we're going to do here is we're going to go change our screens now you're going to look at the 30-minute timeframe for the equity futures contracts here on the upper left you've got the es upper right the nq the dow is lower left the russell 2000 lower right it's really the dow's message and the dow has been the weaker of the four indices out here that it generated yesterday early afternoon uh... around uh... i don't know what the exact time frame was but let's go see if we can find out at four to sixteen thirty at four thirty uh... yeah at four thirty yesterday afternoon as we're coming into the close the uh... dow confirmed and a 30-minute basis confirmed a rosamund indicators bottoming signal out here prices above its current profile prices above the oscillator change line it's signaling to you and i that price wants to go target the thirty six oh thirty six level i don't have any bottoming or topping signals in any of the other equity futures contracts so right now my assumption is or our assumption should be that prices likely to target for all four of these equity future contracts there their td nine breakdown resistance levels those are the green horizontal lines on my charts they don't all go over to the right i can extend them so in them but we don't need to extend them in the case of the es mini that price target to the upside is forty six fifty nine seventy five now price closes above that that tells you about a further bullish message out here for the nq the target is going to be sixteen one sixty three again same message there if right that's resistance you expect price to fail there and if it doesn't and it continues to move higher that's a signal that you should see a further rally with regard to the dow its price target is thirty six oh thirty six and the russell is twenty four twenty four ninety now even though i say that if we take a look at the russell two thousand it is going to form bar number eight of a td nine count in a td nine count pattern is bars eight nine of the bar following nine that could identify the top so what the russell two thousand is signaling to you and i right now at eight twenty five in the morning is that we have the potential for a td nine count top that should form any time between eight thirty and nine thirty this morning and if a td nine count top forms below twenty four twenty four ninety that's its td nine breakdown resistance level that's typically a bearish message out here wait a minute stevo you just spent fifteen twenty minutes telling me that the markets were bullish folks what i'm doing is i'm going through a process here to help us evaluate the markets and its intent i'm not going to be disingenuous at any point during the process of course what we were looking at earlier were daily charts now what we've done is we've dug down you know we've gotten into the minutiae of what's going on from an intraday standpoint and the only one of these four equity futures contracts that are signaling any type of potential topping signals russell two thousand so we most certainly want to pay attention to that you most certainly want to pay attention to that nine thirty this morning nine thirty nine thirty ten because if it forms a td nine count pattern and negates it by negates it it takes out a close above the high of the pattern the higher bars eight nine the bar following nine that tells you about a strong momentum move to the upside we don't have that message just yet but you need to be able to anticipate the message either side of it so what else what's the last piece of this puzzle here and i could have really gotten to it uh quickly um and right off the bat because when i say that you're gonna say stevo come on why didn't you just give me the the masculine version of what you're doing out here and the message of the markets by just going right to the punch and the only thing that we need to pay attention to well that's my way of keeping you through this next breakout here you've got to stay with us for at least the next couple of minutes couple of paid commercials and then we'll go show you the chart that i think is the most important chart of the day to help us understand the direction of the markets in the u.s. steve rhodes with tf and n we'll be right back are you looking for a way to consistently add winning trades to your portfolio tom o brian is here to help tom o brian has been successfully trading markets for over 30 years a frequent contributor to td ameritrade network and cnbc tom o brian founded tf and n over 20 years ago to help educate investors just like you tom's daily market newsletter market insights is published every morning when the markets open to give you the competitive informational edge you need to succeed these newsletters are packed full of tom's advanced technical analysis and are geared to deliver comprehensive strategies for a successful portfolio get tom o brian's newsletter market insights today and try all of our products and newsletters 30 days risk free with our money back guarantee at tf and n dot com tf and n educating investors you could be making money off the stock market and if you're already making money off the stock market you could be making a lot more check out tf and n and tiger tv and get expert investing advice to give you the power to control your financial future go to tf and n dot com and find the newsletter for you whether 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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 tf and n dot com now the cake chart out here even though we took a look at all that information you know tells us what's going on overseas the question is what's really taking place inside the u.s. market since we take a look at this chart just a 30 minute time frame chart for the e s mini what i've identified here is basically the you know the opening range of time frame between 9 30 and 10 what we can see here is that this takes look at the last eight days worth of trading out here what we can see is since the high they came in that was on the trading day of november the fifth and right at 10 o'clock in the morning we saw markets move lower what does that tell us we'll look overseas what we've looked at they're saying hey markets should move higher and if we're going to see that then we're going to see a little bit of change in direction here during the 9 30 or 10 o'clock session what we can see here is all the selling that is really taking place here in the u.s. market it's really being pushed by u.s. traders you have to assume that the in the futures market out here that you don't have to assume i just kind of use as a basic general understanding is that we have not that u.s. traders aren't trading here but you've got europeans and the asian traders and everybody else that are up while we're you know partying eating and going to sleep and so forth out here but here we can clearly see that the selling begins between 9 30 and 10 this morning so we can take all of that stuff that i shared all that stuff that i shared it says to you and i we should not be surprised if we see the markets move higher at the same time the question is are the u.s. sellers still here or gone so what you really want to do this show ends at nine o'clock or just a few minutes before nine o'clock is really want to take a look at what's the direction you put this well i don't know if you've got an yes mini chart or not if you if you if you do then what i would what i would recommend taking a look at is you start seeing the markets trading lower by 10 o'clock if they're continuing to move higher out here based upon all the other evidence that you and i looked at you should not be surprised to see a market continuing to move higher but i think this is perhaps the most important chart i don't want to really get to it because we really needed to have the background information out there so hopefully that helps you understand whether you're listening at 8 30 in the morning or whether you're listening at 1 30 in the afternoon and putting this all together out there so what else do subscribers get they get a couple other things i'll just share with you and show you you can make a determination whether this information would help you or not so first we're going to take a look at different market analyzers that i provide folks with this market analyzer is telling you what the current outlook is based upon stevie's tools and i share exactly what how these calculations were made inside the newsletter out here but this tells us if we wanted to understand what is the market condition for these instruments that i have here tells us about our daily our weekly our monthly and it goes down into those intraday time periods out here so it gives us a 15 a 30 a 65 and 130 minute look then we go to column it says d r mi this tells us whether we've got roads meant to indicator top or bottom signals then you go to the td9 count area this will show as of last night's close out here any instruments we're looking for eights nine so we're really looking for something with a star a star out here even though whether it's got a one or not the star tells us that there's a valid td9 count pattern doesn't tell us on this chart whether it was a top or bottom so you've got to go back and take a look at plus there's also another chart i'll actually i'll put up on the screen that does tell us whether it was a top or bottom but it gives us our td9 counts it gives our Chapman wave to the upside to the downside gives us our oscillator and change line whether it's support or resistance uh tells us where our deep our our td9 um support levels are resistance levels are our taz profile support every so a ton of information if you trade any of these instruments this will be a very helpful to you another thing that we take a look at oops almost uh close that out we certainly didn't want to do that i would have shut down the whole system so good thing i caught that here is another there's really a set of charts this set of charts let's take a look at this one first here what we're looking for this is just really our top and bottom signal finder so i've got the cash indices i've got the index ETFs the sectors in the s&p the equity futures contracts what's going on in metals oil and gas bonds other commodities and just some other popular ETFs that the subscribers want me to report on so here on a daily weekly monthly you can see all the roads meant to indicator signals or you can see the td9 counts for the daily weekly monthly you can see the Chapman wave counts for the daily weekly monthly to the upside to the downside and then you've got two columns here that tell us about the last daily td9 count top if it has a star next to it it tells you the pattern is still in effect if it doesn't have a star just tells you in the last one to form but it's no longer in effect meaning that price negated that top or bottom signal now we have that both for all of these instruments and then we have many people that manage their long-term portfolios and they have a mix of us in international equities well here you can see what's going on on many of the international markets out here so these are the ETFs that you can trade if you're interested in trading emerging markets or maybe russia or hong kong or switzerland or wherever it is you might trade and this gives you that same information so you understand the status of those instruments extremely helpful for you in managing your portfolio so that's the information to get much more than that i just wanted to be able to share that with you so let's do this here i've been babbling for a while hopefully good babble out there and let's go to our first question we've got one question that's coming in by email and it is from brenton martinez california he's kind enough to join us at this very early stage so that's a wonderful thing so i want to be able to get to that i've got to change screens here so bear with me just for a moment we'll go back to those black background screens just for a moment let's get back to the symbol that he wants to take a look at which is ticker symbol dm i want to get this fired up on my white background charts and right now let's go to his questions question reads like this the question is good morning your long dm from the recent lows would appreciate your notice i believe there was a test yesterday of the offset or change line which turned green a few days ago what are the levels of resistance support to watch for any other information and have a great day and a weekend you too brent thanks so much for joining us early so if we take a look at desktop metal out here here's what we know first what we're looking at folks on this chart imagine if i didn't have the taz market profiles out there those are the blue or the red or colored lines that we have out there i say i've got multiple color coloration of lines out here here's what you just need to know the bottom of a line is where buyers reside the top of the line is where sellers reside in the center is where both buyers and sellers believe that this instrument is fairly valued with inside that range the range of the top and the bottom if you take a look at desktop metal you can see that that center the profile is pretty much in the center so it doesn't lean one way or the next it doesn't have a bias here's what we know we know where support is at so brent knows if there was a close below 801 that could be a problem or at least suggest lower price and if there's a close above 913 that would be a beautiful thing because that suggests higher price now the daily and weekly and monthly may have different uh pieces of uh different pieces of we're going to have different profile levels most certainly and they're going to provide us that with different information the weekly here is saying hey i'm above the top of the weekly profile closed above it last week looks like we'll close above it this week that's telling us about a change in trend on the intermediate term time frame so with the daily chart is just saying is we've got a skirmish going on don't know who's going to win at what levels but we know where the offense and the defense reside and that is a competitive edge on a monthly time frame it would suggest hey price below the bottom of its daily profile which also happens to be the center so that strong support now because price above it it's strong resistance so 1257 is a potential price target if price can close above 913 that's what this message tells us let's pull over the white background chart and Brent was exactly right a very astute trader out here wonderful to have them on our TFNN team and we can see that the oscillator and change line about four or five days ago change colors that is the green and red line that is on my chart when that changes color that tells us that the price oscillator that's the difference between the 19 and 39 day exponents moving average of price out there price oscillator an oscillator does nothing more than tell you the difference between two things here what we're measuring is the difference between two exponential moving averages and when that changes color we expect or anticipate that price is going to meet up with it well that's exactly what took place yesterday and that test and rejection is a bullish message still has a skirmish it still has a battle inside these profile levels but Brent is exactly right and that's after forming a nice rogment dominicator bottom way back here in the early October time frame Steve Rhodes with TFNN we get back from this break we'll finish take a look at DM for Brent in Martinez California great are you having fun trading the markets but having trouble finding like-minded individuals to discuss your trading and investment ideas with become an apex predator in the trading markets and join the Tiger's Den Trading Room only at TFNN.com the Tiger's Den is an exclusive trading room where successful traders from around the world come to exchange trades and ideas join the Den and surround yourself with the sharpest minds in the trading world subscribers to the Tigers Den are also the first to have their questions answered live on air and can privately chat with our TFNN hosts live during their shows interact with other Tigers and Tiger's as they share trading ideas news analysis and discuss the market action all trading day subscribe to the Tigers and risk free with our 30-day money back guarantee and become part of the TFNN trading community TFNN educating investors are you in the market for buying or selling real estate in the Bay Area including the surrounding St. Petersburg Tampa and Clearwater markets Tiger Real Estate LLC is a firm that has extensive experience in the Tampa Bay area whether you're looking to sell your current property for maximum value or you're in the market for a second home or investment property Tiger Realty has the experience across all areas of real estate in the Tampa Bay area to help buyers and sellers make the most informed decisions across all price levels from the price you should be paying per square foot in certain up and coming areas to the type of cash flow investment properties are capable of creating Tiger Real Estate can help you make the best decision when it comes to all areas of the market before you make one of the biggest decisions of your financial future call Tiger Real Estate LLC today at 727-329-8322 or email us at tiger at TFNN.com that's 727-329-8322 call us today China A shares in either direction visit directioninvestments.com 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 866-476-7523 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 foresight fund services LLC don't forget you can listen to TFNN live on your mobile device 24 hours per day go to tfnn.com then hit watch tiger tv that's tfn.com then hit watch tiger tv you're listening at 142 in the afternoon thanks so much for doing that we're recording today's show uh early obviously being replayed then trying to make it as pertinent as we can for you at that time as well so we're taking like a ticker symbol dm and Brent caught this towards the bottom so that's a beautiful thing shows that roadsman to indicator bottom signal as we look at if somebody were to ask me where would be the buy point on this uh had they missed that the buy point we would have come up with really two areas we would have said the bottom of its profile would be the best buy point that's an 801 yesterday price got pretty close to it and the oscillator and change line especially knowing that it had changed color so it's very possible not a guarantee but it's very possible that what took place yesterday was the c-point of an a to b equal cd to the upside now we won't know that until the swing point from the trading session of well let me get my cursor out here uh from the trading day of november 4th gets taken out and that high is going to be 969 but it really has that potential now possibility now if you were the person that was going to take or add to your position inside of dm that piece of the pie you would consider really closing that out if you saw it close below 801 that would tell us okay we might see lower price we would likely see lower price if you see a close below the bottom of that profile so it's nice because you've got your back up against the wall so to speak i'm not doing the reward risk uh for you but in essence i'm providing you with the information your stop would need to be below 801 that's so we know that that's for sure with regard to a price target to the upside we now at this date here we have to assume there's the potential for an a to b equal cd to the upside again not confirmed well if that potential where would that potential take us if in fact that's the way the pattern plays out well the first projected area would be 1104 what we can see here is that the retracement was only 54% so anything less than 0.618 increases the odds that what we're going to see is a increase of the odds that we're going to see a what was i said more than a one to one a to b equal cd to the upside so the real range really between 1104 and 1186 now brent was asking me for perhaps some upside information and really that to me that would be the upside information now i would use the conservative approach the conservative approach being 1104 out there um is there any other information that i can provide to brent the last piece here comes from the 30 minute time frame chart on the 30 minute time frame chart what we can see out here you can see a td9 count top this was at 1130 this is on november the 8th we can see a td9 count bottom that formed yesterday morning price was pulling back to its breakout level 807 and so now what we know is that to the downside on a short-term basis if price closed below 807 certainly for two consecutive bars that's telling us about lower price if we take a look at resistance that's at 875 so what you'd like to see is resistance fail and if 875 fails that's another clue that what yesterday's low might have been was the c-point of an a to b equal cd pattern out there so i hope that that helps you all brent thanks much writing in and being up with us early it's 545 in the morning in uh in the san francisco bay area which is where brent is at so that's a beautiful thing okay so what else can i share with you you know what we haven't done let's just kind of get a general overview of how uh several different instruments are trading for that i go to what i use for my market update at one and two o'clock in the afternoon i'll do that market update at nine o'clock this morning but here we could do is in one quick view we can see what's going on you know with many instruments out here so for example you've got the es mini the upper left hand side the es mini we've taken a look at and said look markets and signals are suggesting that we should see higher price the last piece of that puzzle is going to come between 9 30 and 10 10 30 this morning when we see what the direction of the es many is based upon the last day trading days out here so if it's to the upside the first resistance level for the es mini is going to be the center of its profile kind of a devilish number out here because it's 46 66 three sixes in a row so that would be also where you could expect a counter trend rally to form now if price closed above 46 66 that the spot biotech is going to be below its 50 day expense moving average it already is but it's not going to get above that level or shouldn't i should say and if and if the spot biotech says panel number two is below that level and we see a close above 46 66 the signalers don't be short don't be short now if you want to short the short of the top of the profile that'd be 47 11 because the message would be that that's where price wants to head to now the end queue is trading below the top of its daily profile so there's another key level to watch if really the message of the european and the asian markets and really a spot biotechs and new york stock exchange are suggesting that we should see higher price then the key level that the end queue will close above is going to be the top of that daily profile so another key area to be watching whether it's 147 in the afternoon or it's a 47 in the morning right now is 1610580 call it 16106 if you see a close above that or if price is trading above that that's telling you that it is attempting to break out we take a look at the us dollar index it is trading higher it has broken out it has an a to b equal cd pattern it's a conservative price projection out here the eight point that i would start with is down on the trading low of uh september 3rd the high was the resistance level uh which was a td9 counter actually what yeah i'm going to use that one as the can i yeah i can still use that one as the b point and then for the c point i'm using a low out here from the trading day of october the uh what was that october the 28 october 28 so here you can see the one-to-one price projection takes us to 9605 now somebody out there probably just said wait a minute stevo you're saying the us dollar index is going to 9605 isn't gold going to croak so for those people out there and i'm going to move off of this chart we'll come back to it though i want to be able to answer that question because i know that was in somebody else's mind out here my answer is no no no don't think like that please do not think like that i want you to think like a global trader when you can have a global perspective it'll put things into a better perspective now i expect that we're going to see that gold is moving lower in all the major currencies but that's where we're headed to as soon as i can find where i put that chart it's right here so here we take a look at gold now what i want you to understand is take a look at this rise in gold in pounds in yen and in euros way above for so for example here's what i can do i'm going to put my cursor on this bar let me pull this back on the us dollar so the cursor will align itself the cursor right now will align itself with let me pull this back to us as well shoot i mean i really have to pull it back but the cursor right now will align itself on all four charts as to where price is at so i want to take a look at and take a look at this as we go back on the us dollar index out here so now we're at at its highs the highs from june the first but look at where price is at on june the first for all of the other instruments price in those currencies euros yen in pounds do you really think that people that trade in those currencies and folks people are trading those currencies all the time that those are bears out there it's it's about how an instrument is trading in all these currencies not just how about it's trading inside of us dollars so can gold go higher and the us dollar index go higher absolutely with gold with with the us dollar index going higher what's the message that it's generating for us some point some person might say the only message is that just simply that it's generating a message that is going higher no what it's telling us is telling us that global capital has confidence in the us and that is an underlying fundamental thing that each of us need to understand because to a certain extent we can take a lot of these at td9 counts a to b equals cd is all this other stuff and you can almost throw it out the window because when global capital hits the shores of the us a and here you can see it here's global capital right now we can take a look at how the dollar is trading since the beginning of the year you can see the returns inside of us dollars about a 19 percent inside of euros 27 percent inside of yen 31 percent inside of pounds 22 percent now compare that to how other markets are trading the global flow of capital is on our shores out here we're the best of maybe the worst out there when we take a look at stuff but we just want to understand things can be falling apart across the globe money's got to go somewhere it has to flow somewhere our role is to figure out where it's flowing well here this tells us where it's flowing to the good old us 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support that's the bottom of that profile 604 last night's close was 605 if you see a close below 604 today then the signal is that prices pull back to 563 or 506 or somewhere in that range that's a bullish structured monthly profile so that's what's going on we take a look at ACIU let me just quickly peek see if there's any other information out here one of my other charts there isn't so no additional information to provide for you there so i hope that helps you out i apologize don't recall who asked me for that the next request coming inside the tiger's end is to take a look at my eight panel chart for silver so let me get that fired up we're going to change screens here and as soon as we get over to that change screen you'll see eight different time frames you'll see the monthly time frame in the upper left hand corner then we'll go off to the weekly the daily then you've got a 30 61 2240 and five hour time frame chart so what do we know about uh silver out here well one we know that silver is inside its bullish structured monthly profile its next level resistance is 2562 if price can close above that the signal is price should move to 2991 we take a look at the weekly chart it formed a TD9 count bottom that's that blue horizontal line price held that level prices above the top of its weekly profile that is suggesting to you and i that price should move up to the 2822 level as long as price this week today close above 2459 that's what it needs to do really need to see that close above it again next week but today's close it's important above 2459 is suggesting 2822 if we take a look at the daily time frame i don't have any kind of a topping pattern out here at all there's a new a to b equal cd to the upside that had formed so this too was suggested that it wants higher price i can't do the a to b equal cd on this white background chart if we take a look at the 30 minute chart price pulls back to its breakout levels into 2494 area that's a positive this is suggested to move today maybe up to 2538 but watch 2494 that's a key level of support folks thanks for what you're joining me here early this morning for listen to the normal time thanks as well i'll be back at the normal programming hour at one o'clock on monday have a fantastic Friday fantastic weekend great to be with you be safe out there building wealth trading in the stock market seems impossible to most people they think it's too volatile and risky most people aren't going to take the time to educate themselves on how to do it right but you're not most people are you at tfnn you'll get the guidance you need to refine your strategies and techniques to invest like a pro because you'll be a pro all tfnn subscriptions books software and courses are available at tfnn.com and i'm even going to tell you how to get them for less use tfnn's tiger dollars and you'll get up to a 20 bonus on your purchase and once you apply them to your account tiger dollars are automatically used for all 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