 The following is a presentation of TFNN. The Trader's Edge with Steve Rhodes. All now toll free at 1-877-927-6648 or internationally at 727-873-7618. The Trader's Edge. Now, Steve Rhodes. Good morning, folks. Welcome to the October 28th, the fantastic Friday edition of today's Trader's Edge show. I'm your host, Steve Perseverance Rhodes, who absolutely knows that each of us should always be pioneers of our future versus prisoners of our past. Hope everyone out there is having a great day. Let's make sure we have an extraordinary one and the easiest way to do that, is 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, well, it means we can find the gift, and 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 at just past 8 o'clock in the morning. That's right. If you are listening at the normal timeframe, now 11 to 12, I will make this show as pertinent as we can for you. If you are listening live, though, we would love to hear from you. You can give us a call at 877-927-6648. Now, if you can't call in, again, if you're listening between 8 and 9, you can always send me an email. Send that to Steve at TFNN.com. Now, inside the subject heading, if you would be kind enough to put radio show question, that would be very cool. Of course, if you are inside our Tiger's Den, then any ping will do. So let's go ahead and get this show started on Fantastic Friday. Of course, this is Tiger, Financial News Network, M.C. Rhodes. Welcome to the show. As we take a look at the U.S. equity futures, they're all trading lower. Dow's only off by 11 points and Nasdaq getting hit hard because of Apple and Amazon's down 114 points. That's about 1% to the downside. The S&P's off 22 points, about a half a percent. The Russell's off only one point, so that's flat out there. Over in Asia last night, it was a sea of red. Down about 4% for the Hangsang, 2% over 2% for the Shanghai, and the Nikkei off a little bit less than 1% at 240 points. Over in Europe this morning, the DAX is trading lowered by 75, and the FTSE's off 27. Gold's down 13, Silver's down 24 cents, Platinum's off 11 bucks, Bladium's down 25, Copper's off 6 pennies, Light's recruit us off 88 cents. Natural gas is down 9 pennies. It's a sea of red out there. Not a sea of red. We take a look at the U.S. dollar index up 222 ticks. Of course, they do have a 10-minute delay out there. It's trading out at about 1 in 1067. So let's do this here. Let's just take a quick peek at our nine-panel market update chart out here. Get a feel for what we're looking at. Got the ES mini. The ES mini, what this does and shows that this completed a TD nine-count top yesterday. So the key level of resistance here is going to be the high of that pattern. That's October 26th. That's at 38, 97, 50. Well, what we also have at 38, 97, 50 now is a new bearish structured, I'm sorry, bullish structured daily profile. And that profile formed above the prior profile. That is a signal of a bullish trend. That signal would remain, that bullish trend signal remains as long as price closes above the bottom of its daily profile. And that's at 36, 67. So we've got a topping signal inside the ES mini. We actually have a bottoming signal inside the spot follow tunics. It completed a TD nine-count bottom yesterday. So here's what we're watching for today. We're watching to see if price closes below yesterday's low in the spot follow tunics. Yesterday's low is 26, 94. Well, one that's going to suggest to move down to its lower Bollinger band. That's a 50 to one Bollinger band set of parameters. And that would be targeting 25. But it would also negate the TD nine-count bottom. And that would suggest that the ES mini would at least go target that high again, that TD nine-count high at the top of the profile up at the 38, 97. Whereas if the TD nine-count takes hold, then what should happen is price should at least go target that 50-day expense moving average. That's at 28, 36. Now, the 50-day expense moving average is very key. Because when price is above it, that's really a bearish directional signal. When price is below it, that is a bullish directional signal. I know you might be saying, what the heck do you mean, Stevie? Well, all that we really have to do is just simply take a look at what's set of charts out here. That's not it. There we go. It's this chart right here. So here I've got the green and yellow box. The representative of time periods where the spot politics is generally speaking above the 50-day or below the 50-day. And right now we're below the 50-day. That would, in essence, would create these green boxes. I'll have to go back and update this chart out here. But typically when the spot politics is below that 50-day, price moves sideways to higher. The difference is that right now what we know is we've got a TD nine-count bottom pattern that formed and completed yesterday inside the spot follow today. So that means yesterday's low, really key. Now if we take a look at the NQ, whereas the ES mini has a top, the NQ does not. It has an A to B equal CD to the upside pattern. That's not even, let me see. The low on the music was using for the B point was low of October 21st. That low was 10, 935. Yesterday's low was 10, 921. Yeah, so that's not even a valid TD nine-count, I'm saying A to B equal CD pattern. We'd have to adjust that to yesterday's low. But here's what's really most important about yesterday and two days ago. And that is there was a new daily profile that formed inside of the NQ. Now the NQ arguably the weakest of the four equity future contracts, but all it is doing is consolidated with Insighted's daily profile. So yesterday it tested that profile low. That held. The day before it tested the profile high. That held. What's the profile low? 10, 917. What's the profile high? 11, 631. So whichever side of that breaks perhaps tells us where price is going. However, there is a weekly profile with support down at 10, 734, 98. That's really the level that the NQ would have to close below to suggest that there's trouble in reverse city. If we take a look at that US dollar index speaking to new profiles, it too is attempting to form a new profile. Now this profile is just slightly above the prior profile. Again, a bullish directional trend from a profile standpoint. Support now for the US dollar index is down at a buck nine. 109.81 to be exact. Resistance 113.38. The top of the new daily profile. If we look at Goldilocks, that's just consolidating between support and the support area being it's a roadsman to indicator bottom level at 1622. 20 and resistance being the top of its daily profile at 1682. Silver finding clear resistance at the top of its daily pro weekly profile. That's at 1957. Lights we crude should go target 1994. You got natural gas consolidating with inside this daily profile as well. Support between 568 and resistance at 636 and the 30 year treasury attempting to has a nice by the D point pattern but price struggling at resistance levels. Those resistance levels being 121.25, 123.14 and 124.09. So that's just kind of an overview of the general markets and what's going on there. Let's for our next action here. Let's do this. The chart timeframe that I think is the one that's most significant to us is the 30 minute timeframe. So let me do this first. Let me do this. Let me let's say we're in the black background. Yeah. So let me make sure I'm clear about this. We have a TD nine count top in the ES mini. We have a TD nine count top inside the Dow. We have a sell the D point. No, we don't have a sell the D point pattern. We have a we have a we have an A to B equal CD pattern. The Russell 2000 that made its one to one price objective of 1845 90. We do not have a bearish reversal candle. We do have a new profile that's attempting to form inside the Russell was supported 1784 and resistance in 1829 and inside the NQ all we have is consolidation with inside this daily profile out here. So only two of the for equity future contracts with valid topping patterns. Steve Rhodes with TFN we come back we'll look at the 30 minute charts for each of the equity futures. 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TFNN.com Educating Investors 1-877-927-6648 internationally at 727-873-7618 Back folks at Dow Futures about flat there are 5 points right now, 3 points ESMini is basically flat it's an ASDEC and S&P that are trading lower by 1% and a half percent the S&P 500 TAS market breadth signals that we're looking at right now and what you'll see is they are in the bullish configuration for the weekly daily 240 and 60 minute time frame if we look at the shortest time frame right now the 60 minute you'll see there's 170 instruments trading above the top of a 60 minute profile that would be a bullish directional signal versus 166 that are trading below so we've still got a bullish crossover going so we have a positive market breadth of 818 in the morning with regard to for all four time frames we have a mixed bag when we take a look at the NASDEC 100 it is bullish for the weekly daily and 240 minute it is bearish for the 60 minute on a 60 minute 17 instruments trading above the top 51 below the bottom so it's really a 60 minute time frame that we would kind of focus on here but I also do have this data for the 30 minute time frame and if we take a look at the yes many right now or the S&P 500 this has a bearish crossover the red line above the blue line right now as of 819 in the morning there's 88 instruments of the S&P 500 trading above a 30 minute profile 200 below the bottom if we take a look at the NASDEC 100 out here the NASDEC 140 minute time frame also with a bearish crossover with 13 instruments above a 30 minute profile 53 below the bottom so that's what takes us into our 30 minute time frame charts because we're looking for here our signals we know that on a 30 minute basis we have a bearish crossover both the S&P and the NQ we don't have that same configuration for the 60 minute time frame chart for the S&P and for the NASDEC so let's look at the 30 minute time frame charts out here each of these form TD9 count bottoms those TD9 count bottoms for more confirmed at about four o'clock this morning so you can see those on your panel on your screen out here what price that we need to do in order to suggest that there's going to we're back in rally mode out here at least would be close above their TD9 count breakdown area so for the ESMini the level to write down in your pad of paper whether it's 820 or 1120 in the morning is going to be 3808 on a 30 minute basis if price closes above that that suggests that we have a further rally unfolding for the NQ then if price can close above 11172.75 then the next direction is to the upside the next direction for the NQ would be over the next target I should say would be 115.15 if we take a look at the Dow equity future contract also a TD9 count bottom its key level of resistance that we need to fail to suggest that it's rally on would be 32134 and finally the Russell 2000 which has gotten very close to testing it this morning that was about a half an hour ago that level is 1813.50 the actual high half an hour ago was 1813.20 so a close above that is going to suggest and that being 1813.50 is going to suggest to move higher now likewise we've got a TD9 count bottom so price takes out those lows then that suggests that the market continues to move lower out there so which way is the market going to break I don't know right now with the market here above profile levels for the ES the Dow and the Russell 2000 for their 30 minute time frame and above their oscillator and change on it does suggest that price should take a look run at those TD9 count breakdown areas but of course on the 30 minute they're still negative market breath so not now price close above those those TD9 count breakdown areas that likely will flip back to a bullish signal on the 30 minute time frames out there and remember the S&P 500 is bullish for all four time frames from a market breath standpoint as we speak even though it's got a TD9 count top and even though it has a new daily profile that new daily profile was confirmed yesterday and that resistance level is up at the 38 97 50 area out there so what else is it that we can take a look at in the equity markets out here what else is it nothing that comes up at the top my head just yet so let's do this we've got a couple of questions that have come in why don't we switch over and take a look at and answer those questions the first one this morning coming in from S&P inside the Tiger's den and S&P wants to take a look at Taiwan semi I believe it's Taiwan some of us see here let's get to the daily weekly out here TSM is the ticker symbol out here so let me get this in here TSM and then they know we'll do after these we'll take a look at the premarker what's going on with Apple what's going on with Amazon out there we generated an A to B equal CD to the downside today so we take a look at Taiwan semi conductor what we have out here S&P is we have a Rosemind indicator signal but what we don't have is the bullish reversal candle out here and prices below the bottom of its daily profile now you only see two lines out there and the reason is because at the center and the bottom are the same thing so 63 58 now that should have acted as strong support S&P and didn't the question is will that act as strong resistance well I don't know but time will tell but right now with price above the oscillator and change line and move up to 63 58 would make sense you do have or you will complete a TD 9 count bottom this week on a weekly chart for Taiwan semi conductor so whatever the low is this week now so far the low in Taiwan semi conductor is not on this will hold through the day but the low so far is 59 51 let's assume that is the low if price were to start if price well first started trading below but more importantly close below next Friday this pattern will get negated tells about a strong move to the downside the next move to the downside will be 50 54 the monthly time frame should complete bar number 9 of a TD 9 count now the bottom of a TD 9 count can occur on the bar following bar number 9 so that might be in the month of November and so the monthly could give you a you might be getting a buy signal now you got to watch the weekly you'd like to see the daily get back above at least the bottom of that profile 63 58 if you did that S&P then it'll be looking at a move to 66 10 now Taiwan semi conductor as it closed out the session yesterday was just testing support of its 30 minute profile let me see where Taiwan semi conductor is trading as we speak right now I've got to do that on a different screen you give me a moment you don't have a choice TSM is trading at so close at 6103 trade at 60 66 so I believe that is below the bottom of that current 30 minute profile out there it is 60 99 is that level so price does close below or charge yeah close below on a 30 minute basis I'd be a 10 o'clock close below 60 99 is going to suggest that price is going to go target its recent low from October the 25th out there and that low at the 59 51 area so now that was a 30 minute chart back to the daily what does that mean it means really simply that from a daily standpoint you still need a bullish reversal candle to confirm a bottom so S&P I hope that helps you out with regard to the possible bottom that you were looking at and thanks so much for your early request Robert writes in he wants to take look at natural gas let's get back to these charts out here let me get that we're looking at the December contract let's actually read read Robert's question and Robert thanks so much for writing a radio show question in that little dialogue area just simply I can differentiate your email from all the other junk that I get out there so if we take a look at he says that could you look at give us a review of natural gas love your shows Mr. Den Bob a.k.a. Tucker well we miss you in the then too but thanks for the request out there so natural gas is right now it does have a by the d-point pattern we're looking at the daily time frame chart back I'll just simply expand this out well all the other charts are still populating so let's just give this a moment here so you have to do that Bob we get back from the or Robert we get back from the Bob I will get back from this breakout here but on a daily basis natural gas right now just consolidated with inside its daily profile after forming a by the d-point pattern for its daily time zero's with tfn you're right if you're looking for potential trading setups in the stock market then rocket equities and options report is a newsletter you should try Tommy O'Brien delivers options and equity trades when the markets present them using a combination of fundamentals and technicals sign up for rocket equities and options report today with a 30 day money back guarantee so you have nothing to risk for all the details and to start your subscription today visit the front page of tfn.com tfn educating investors tfn is excited about our new software charting program the art of timing the trade charts in collaboration with Tom O'Brien and using his best-selling book the art of timing the trade your ultimate trading mastery system David White has programmed an outstanding piece of software that will complement any traders 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 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 seventy nine dollars 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 if you want to take advantage of this sector now is the time to subscribe to my gold report the gold report is a comprehensive look at the metal sector as well as the markets that move gold which is the currency and bond markets new subscribers get a 30 day money back guarantee so you have nothing to lose every Monday morning I publish the gold report with coverage of gold silver bonds DXAU HUI GDX as well as more than 30 days to see if yourself the types of profitable trades that are recommended within the gold report sign up now by visiting tfnn.com don't miss out on the next great gold trade sign up today tfnn has launched the tiger's den hosted at discord tfnn has been educating traders for more than 20 years with live programming hosted by a variety of professional traders during market hours the tiger's den available to all tigers and tigers for just $1 for the year there's no cash or added costs when you join our community of traders sign up today and become a part of this educational community of traders just visit the front page of tfnn.com folks 8 29 in the morning if you're out listening to 11 30 thanks so much for doing that we'll be back to normal programming hours on Monday 11 a.m. sharp we're taking a look at the natural gas contract this is for Bob so again the daily time frame Bob you've got a valid buy the point pattern that was confirmed with that bullish piercing candle all that has led to is a consolidation with inside the daily profile your price does close below the bottom of its profile this is a daily natural gas for December that level is $5 and 68 cents that's going to at least suggest to run for the low from October 24th that low being 534 if you look at the other time frame charts out here Bob the only one that sticks out to me that's got a valid bottom or topping pattern out here truly a topping pattern signal is a four-hour time frame chart price TD 9 count top and price right now is taking on its support level now this current candle here does not close till 10 a.m. it's 8 30 so another hour and a half and price may hold it's trading below the bottom of that profile which is $5 and 78 cents straight in 575 but that that level may hold may hold if price does close below that at 10 o'clock then the signal would certainly be a pull back to support now that's 534 that's the TD 9 count breakout area but the first level of support goes back to the daily time frame and that was at $5 and 68 cents so that's the level that price would need to be trading below Bob to suggest that price might be targeting the TD 9 count breakout level on the 240 minute time frame chart out there so that's what I see we take a look at now