 The following is a presentation of TFNN. The Trader's Edge with Steve Rhodes. All toll free at 1-877-927-6648 or internationally at 727-873-7618. The Trader's Edge. Now, Steve Rhodes. Good afternoon, folks. Welcome to the October 27th. The wonderful Wednesday 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 you've been out there 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, it means we can find a gift in every set of circumstances that life is going to toss at us. Now, I don't know. I just got totally sidetracked there. Sorry about that. So in any event, I would love to hear from you. So let's do it like this. You can give us call 877-927-6648. If you can't call in, you can always reach me by sending me an email. And you can send it to Steve at TFNN.com inside the subject heading. Please put radio show question in. And our tiger is dead. Well, any in every ping will do. So let's go ahead and get this show started on wonderful Wednesday. Of course, this is Tiger Financial News Network. I'm Steve Rhodes. Welcome to Let's Show. A bit of a mixed bag out here. The Dow's off 98. The S&P's up three. The Nasdaq's up 1 to 44. The Russell's off 25. That's a big leader to the downside. Semi's off five-point sets. Pretty much flat out here. Trainings are off 94. Let's do this. We've got a chance to do our market update at 1 o'clock. Let's just go take a look at our market update charts out here. Just give you a quick overview of what's going on. So you've got the ESMini. You can see the A to B equals CD. Bar number nine formed yesterday in a TD9 count. Yes, there was a shooting star. That confirms they sell the D-points. They got two sell patterns inside of the S&P 500. If we take a look at spot volatility, it's still below its 50-day exponential moving average, which is bullish for the S&P 500. However, we'll do this quick cut. We'll do this however by going to this page. Here what we can see is we've begun a rising VIX pattern. So we're looking at the very bottom panel of the chart here. This is on a closing basis. And I've got other instances when we have that rising. This is when the spot volatility is below the 50-day exponential moving average. So we've got a rising closing spot volatility index in the face of rising S&P 500. That typically leads to some type of a top. So we've got the topping signals that are in. So that would suggest there's two options here to short the S&P 500 or perhaps to go along the volatility index for a very short period of time. But back to our market update charts out here, we take a look at the NQ. The NQ also formed the same two patterns yesterday that the ESMini did, a TD9 count top and a sell the D-point because of that a bearish shooting star candle. Now prices trying to tag yesterday's high, is up at the 15-543 level. Today we're at 15-532. Now what happens if price closes above that? Closes above yesterday's high. Well, the TD9 count pattern will still be in play here because this will be the following bar number nine. But whatever the highest yesterday or today, if there's a close above it tomorrow, you can forget about that pattern. And in fact, that would be signaling to us a strong moment to move to the upside. So here, let's just take a look at the equity futures. Let's look at the other ones as the other instruments as well. But in the ES, in the NQ, if we take a look at the NQ, well, let's do this here because what we're also dealing with is this favorable seasonal cycle where right now we have two of four instruments that have broken out above their consolidation patterns. Those are the white rectangle levels. We now have, yesterday was a test of the top of that consolidation inside the NQ. Today, obviously another one. So in theory, we should see the NQ fail here. We should see the Dow get back inside its consolidation. The same thing for the ES mini. Now that's in theory. In practice, we need to see what happens before we can draw any conclusions. At this stage, the pullback inside the Dow, perhaps just a test of that consolidation breakout pattern. The ES has begun that move down there. And what happens if the NQ just simply negates the cell signals, the one from yesterday, perhaps one from today as well, tomorrow, that's going to suggest a strong moment outside that says 16, 9, 28 would be its target. And then that brings into play the Dow, which is going to target the 37, 400 area, the ES mini, 48, 16. That's only if we get a breakout here. We don't have that confirmation really just yet out here because of the topping signals that we have in play. So back to our market update charts out there. But everything appears to be signaling that we should see some kind of top, rising spotball atyx in a rising S&P 500. We take a look at the US dollar index. It's not doing much. It's just trading sideways above the top of its daily profile. It has a valid topping signal in there. That happened a couple of weeks ago. But with price above the top of its profile, its signal is more neutral than it is anything else out here. Inside of Goldilocks, gold trying to form a new profile today. We won't know until tonight whether it forms or not. But the current support levels where buyers reside is in the 1765 area and it's 1804-50 is where the sellers are at. Silver also attempting to form a new daily profile. Support here 2378, resistance 2473. Now, of course, on my charts, you see for both gold and silver, different resistance levels. Those are different resistance levels. Those are not the profile areas. Those resistance levels identify the top of the bearish shooting star candles that form. These clothes above that, that would be a bullish signal. Lights we crude also trying to form a new daily profile. Again, for these, we won't have confirmation until this evening. Although I would say the one in lights we crude probably more solid than the other two, but really won't know until the end of the day. But what this does tell us, I can share with you a week, you'll take a look at this later. Right now we've got lights we crude trading below its oscillator and change line. We haven't seen that for quite a period of time. A close below that level, by the way, that level is 8404. We're trading right now at 8280. That's going to then at least signal a move back to the 8124 area. There's another level we'll take a look at that we'll get to those charts here momentarily. If we take a look at, if we take a look at natural gas out here, natural gas, it's got a cell pattern that formed all the way back here in the trading decade. I think it was a rogement to indicator top October 6th. But again, prices above, now this is day number three above the top of its daily profile. So its signal is neutral to bullish. It's certainly not bearish out here with price being above a resistance level. 30-year treasury, you've got the consolidation patterns going on, price testing, the top of the bearish structured profile. So it looks like the 30-year treasury is likely going to turn down from here. Now with regard to lights we crude, let's just go back to that. Let's try to finish that off here. Give me a moment to get back to the chart that we want to or that I want to share with you. So one of the things I like to do, because we're trying to answer the question, what is there really going to be a change in trend if there is, or what would identify a change in trend just versus some kind of normal pullback. So what I look for is, I look for key levels of support to be broken and also key levels, really key levels of support that have held on a large move higher. Well, turns out that it's the four-hour time frame chart for lights we crude that is providing the best signals. What do you mean the best signals? Those red horizontal lines represent TD9 breakout areas. And so in a bullish market, price is going to pull back, test those levels and reject it. We can see that that has occurred. We've seen a couple of different tests. Let me get my cursor out here. Give me a moment. And we saw tests like that back in the September 29th time frame, September 30th time frame, back again here October 19th, October 20th, October 21st out there. So what I really think lights we crude is headed to is 8108. If it could hold that level, that's the buy point. If it closes below that, we likely have some kind of change in trend inside of light, sweet, crude. We'll be right back. Steve Rhodes started his trading career as a student almost 20 years ago and the student has now become the master. Steve won the prestigious Timer of the Year award in 2018 and barely missed that mark again in 2019, finishing at number two for the year, an amazing accomplishment. Steve Rhodes is committed to sharing his techniques and knowledge with anyone who wants to learn and he shares his vast amount of trading knowledge every day in his Mastering Probability newsletter. Steve's award-winning newsletter, Mastering Probability, is delivered every trading day with updates throughout the afternoon. Sign up for Steve's market newsletter, Mastering Probability, and you'll receive access to seven of Steve's educational webinars absolutely free. At TFNN, all our newsletters come with a 30-day money-back guarantee, so you have absolutely nothing to worry about. Visit TFNN.com and try Mastering Probability 30 days risk-free today. TFNN, educating investors. What's separating you from the most successful men and women on Wall Street? That's right, information. Having all the information gives us the perspective we need to place the right trades at the right time. The TAS Profile Scanner is the premier market-profile-based scanner. Powered by its acclaimed TAS proprietary algorithms, this feature-rich scanner instantly filters over 2,500-plus global financial markets, such as stocks, ETFs, commodities, futures, and forex. 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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. Now off 80, S&Ps up five. Now NASDAQ is up 146. So a little chatter in the den about cap-weighted indices out here. So let's spend a little time with one of those important cap-weighted indices. That's the NDX100. Here are the eight charts that represent, I believe just over 50% of the NDX100. Apple, the number one weighting in the upper left-hand corner. Do we see any kind of topping signal inside of Apple? The answer here is no. There's an oscillator and change line that changed colors about three or four bars ago. And so the anticipation is that we should see price and that line catch up to each other over the coming sessions. A test rejection of that line would be bullish and that would signal a move in the case of Apple up to 155.48. Right now Apple just trading with inside its daily profile, so resistance level about 150.18. But if you're asking me, does Apple show that any kind of a topping pattern out here? The answer is absolutely not. Absolutely not. And it suggests that Apple's going to head up to 155.48. Inside the den, I don't know when, and I'm not going to change over to charts or anything to figure out when Apple releases earnings, but is it tomorrow when Apple is coming out with their earnings out there? Oh, by the way, I asked a question inside the Tiger's Den. I don't know if anybody caught the game last night which went on until midnight. I know because I stayed up and watched it. My favorite play of the game last night, and I have to admit the opening up with a home run of the first batter. That was pretty cool. You have to admit that. They were like, okay, these batters, and I mean, the Braves have got some, both teams have got really great hitters, but man, the Braves are just dialed in at this stage or it seems to be. But my favorite play of the game last night was in the bottom of the ninth, and it was the first batter that was up who just who was a DS, I believe might have been let off the ninth inning out there, and I mean, he torched one to left field. I mean, a line drive shot and it just went followed. Why was that my favorite play? Because it was snagged by a guy, a man, our age, let's say, who brought his mitt to the game. You know, I always go to the game and I always watch those people who bring all those mitts, and I'm always saying to myself, not a chance. You're not going to catch a ball. That was the first time that I can recall, not that I've seen a lot of them, where, I mean, a line drive shot like that, boom, right into that guy's mitt. That was my favorite play of the game. But I know you're not interested in that. You're more interested in moving over to Microsoft. Well, if we take a look at Microsoft, okay, the number two weighted inside the NDX100, it negated its topping signal a couple of days ago, and price right now is trading above the top of its daily profile out there. So, Microsoft is not giving us an indication of a top here. So, the top two weighted are saying, eh, I'm not going lower. At least that's what the charts are signaling to us. If you take a look at Amazon out here, Amazon creates a sell the D point, price gets down, closes below the bottom of its daily profile, but yesterday it shot right back above it, and now it's trading into the resistance area, which is between 3417 and 3462. Looks like it's going to go after 3462, and if it closes above that, it's going higher. If we take a look at Tesla, which has been on a tear, there's no signal here that Tesla is done tearing it up to the upside. No topping pattern that is in place when we take a look at Tesla. Google, so now we're down to number 5 out here, Google has got a gigantic wide-ranging bar today. So, it too had a sell the D point pattern. Let's just expand out the chart for Google here, take a moment. It had a sell the D point pattern, took price right back to support, support being the top of its daily profile, that level held, and now we've got a new A to B equal CD pattern here. So, let's go ahead and draw that in. Let's do this. So, the A to B point, we just have to stretch this, is going to be just like that, and now on the C to D level, I'm just simply going to copy this, paste it, slide it over. Whoops, try to slide it over. That really should just go ahead and get that A to B equal CD tool developed for Ninja Trader 8. So, here's the 1 to 1 level, which is not too far away. It's in the 3000 zone, we're 2971, but chances are that this is way more than a 1 to 1 A to B equal CD to the upside. I say chances are, and the price does close above its all-time high, which was a road momentum indicator top, its shooting star, that's at 2936, or 2970, it'll take out resistance and suggest that it wants to continue to move higher. So, now we've got five instruments, the top five weightings inside of the NDX100, as far as I can tell, are all signaling to you and I that they want higher price. Yes, Apple should go down, test that green oscillator and change line, you know, or just move sideways, but that's not a bearish pattern signal. Now, NVIDIA out here, NVIDIA has, is going to form bar number 8 of a TD9 count, needs to form bar number 9 tomorrow. The high could come on today, tomorrow, or the next day, that would take us into Friday out here, but at this stage there are topping signals, sure, potential topping signal, we need to wait for tomorrow to play out. Facebook, it's tried to form a road momentum indicator, it actually did form one, it did what it was supposed to do, it formed that one right back here in wave number 7, that's letter G, price gets right up to the resistance level, the top of that daily profile, and it's trading as you know, below the bottom of its bullish structure profile, still with the road momentum indicator signal, but no bullish reversal candle. So, in the case of Facebook, yeah, it looks like Facebook wants to head lower, PayPal doesn't have a bottoming signal, so it says it wants to head lower. So, only two of the, really I show eight instruments here, but it's really nine, right, because you've got Facebook's got, or Google's got two different shares out there, traded shares. So, that's what's going on inside the NDX 100, and so if we're looking for any kind of significant top, what we really need to do is we really need to see these core weightings here generate that signal, and they're just not there, at least not yet. So, let's take a look at that capway, we can do the same thing for the Dow, the Dow which is responding a bit differently today. Let's in fact do that. Let's go ahead and throw up the same, well not the same charts, but the top eight charts here that also represent more than 50% of the weighting inside of it. Well, we got United Health number one, that's going to form a TD nine count up. Well, they did it yesterday. Today's high is the higher high. If United Health closes above today's high, whatever that is, man, that tells you about a strong momentum move to the upside. So, does it have a topping pattern or signal? It does. Goldman Sachs also says it's going to have a high. So, let's take a look at that. Let's take a look at that. Yesterday was bar number eight, you can see how price got up to its TD nine breakdown level. That's at the 417 58 area. Looks like price will close above bar number five. This is suggesting Goldman Sachs should pull back and test its oscillator and change line. It's not that much further below 407 90. If price closed below that, you can see run back to 393 55. If we take a look at that, let's take a look at that. Yeah, that was just a fake out. Now, of course, I don't know where price is going to close. If price closed below yesterday's high, then that sell the deep point pattern is still in play place. If it doesn't, it gets negated. You get to bar number seven and maybe there's a top that forms an old Depot tomorrow through Monday. Microsoft, it's on a tear. I don't have any kind of a topping signal out here for it. We take a look at Salesforce innovation. It just wasn't. It wasn't. But today's close. If today closed above 295 53, that will be bullish for its signal. McDonald's here. I don't really have a pattern. Well, I do. There's an A to B equal CD that completed and that's completing with today's move higher. That's that gap to the upside out here. So McDonald's is saying it wants to move higher. It's back inside now. The way that it'll communicate that it really wants to move higher is price has got to close above the center of that bullish structured profile. So 243 16 is a number where price needs to close above. If it does, then that signal in McDonnell wants to head back to 249 95 visa out here is retesting a prior swing point. I don't know in this software if it's doing it with lighter volume or not. If it is doing with lighter volume, well, then that's more of a bottom than it is anything else. And the case of Honeywell out here. Um, I don't have a good read per se, but if price get back above the bottom of its daily profile, it's about another 30 cents from where it's trading right now, that would be a bullish outcome. 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Don't miss out on this incredible new piece of software. Get your copy of The Art of Timing the Trade chart 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 We've got a couple questions that have come in by email. Let's get to those. The first one coming from Hector and Patty. They are the Fuel Injectors. Hector writes, Stevo, happy winning Wednesday back at you my friend. QQQ are currently blasting away the B point of a daily and weekly massive upward move. Please confirm weekly daily So we'll take a look at that. First thing though, first things first Hector. I've got the NASDAQ 100 and you're asking about the QQ, so really the same thing here. I've got the NASDAQ 100 monthly horizontal trading range boundary lines up on our screen here. So in order for the QQs to blast away next, they're going to need or the NDX100 is going to need to close above 15 887. So remember we're in this consolidation zone. We're trying to determine are we going to remain in this consolidation are we going to break out because that will change obviously our outlook on how we trade and so forth. And so the key level to be watching thereabouts, don't use it right to the T is about 15 887. If we see a close above that then we're into our next level of horizontal trading range levels would take us to 17 480 for the NDX100. So I just wanted to point that out to you. Let me just close this chart out here and get that off my screen. There's a lot of calculations going on there and that's the reason why I wanted to get rid of that. I just hogs hogs the system and I've got plenty of things that are open so I got a lot of hogs out here but back to your specific question now about the QQQs and that's what we've got up on our screen right now. So if we take a look at the QQQs the last time that price was up here that would take us back to September 7. There was 23 million shares on that day. So Hector's already on to something. The Qs are attacking that swing point as he said with massive volume yes or he said massive upward move we're going to interpret that to mean massive volume. So if price takes that level out that would be very bullish. Now on a weekly basis that swing point I believe has volume of 126 million it's only we're not even well we're about halfway into the week we're at 102 million 102 versus 126 so if that's a signal and we're thinking that there's a top out here and a lot of times people will base that on volume well Hector good point we're not seeing that inside the NDX100 or the QQQ series ETF and that says hey I'm out of here I'm gone now with regard to A to B equal CD patterns out here holy schnikes on this one as I take a look at the daily time frame chart so on the daily time frame the only real legitimate A to B equal CD pattern that I see would be this one here and so that's starting with the lows I'm not saying there's several A to B equal CD patterns by the way but here's the most recent one on a daily basis and it's already been confirmed and that's with the A point at October 4th the B point out here on October 7th and retracement into October 12th and so at this stage here we're above the 1.618 area that says we should see the Q's move up in target 387 22 so that's the A to B equal that I see there again that's the most recent one let's take a look at the weekly chart on the weekly chart the question becomes what do we use for our A point out here or how about if we just do this because the larger A to B equal CD pattern this one is very clear to everybody or should be very clear to everybody starts back at the March 2020 lows so let's start with that as the A point let's get that tool going here so that's very clear to everybody that's at March 23rd low our B point is going to be the high that formed on August 31st the week of and the C point is going to be the retracement down into support that was that weekly profile so you can the A to B equal CD very easy to see so now Hector when we take a look at the weekly timeframe let me just scrunch this so we can see the both the daily and the weekly so scrunch is a technical term out here that Stevie just created but what we want to see is where do these A to B equal CD patterns line up so the 1.272 and as long as price remains above 381.35 that's what the daily would suggest so you got 387 and you got 398 on the weekly chart so I think those are really the A to B equal CD patterns now what I believe Hector is also looking at and not that this is inaccurate or anything but first we want to make sure that we got the larger pattern in play out here as we take a look at it then you can build from there so you can see I'm going to go ahead and draw that back and we can draw multiple A to B equal CD patterns out here so this is the weekly chart so I'm just getting that first one that we looked at and now what Hector is probably looking at he could be looking at the C point that we use out here on September 21st that would be a natural thing to do as the A point of another A to B equal CD so if we do that and that's what we're going to do right now may get a little cluttered out here but we can handle clutter so we got our A point our B point by out here is October 15th and the C point is March the 1st I want to do this because I believe Hector is trying to master the A to B equal CD pattern so here you've got a one to one that takes us up into 396 level so well the one I'm sorry the one one took us at 375 the one to 1.272 takes us into the 398 area so we got a cluster if you will going on bear with regard to then the next one that we could draw out here that you would try to do my guess is I would start with that C point again but what I'd be using is and we already know that we've got volume so the question is whether or not the cues can close above that high I think we did the work in looking at the detail of the capway and stocks out there and I think we came away with the conclusion it's not unreasonable to think that the cues aren't going to go ahead and continue to move higher so if we take a look at this next one that you're looking at Hector that gets us out into about the 435 level I know it gets confusing let me go ahead and start deleting we'll delete the main one the first one we'll delete the second one and here's that third one out there but the point is Hector is that let's not just focus on just one or the most recent on a weekly basis step back a little bit further in time to create those A to B equal CD patterns but yes it does look like the cues are getting ready and are signaling to us that they want to move higher out there so hope that helps you out thanks so much for writing let me just make sure that I answered your question I believe that I did and if not though I know that you'll be kind enough to write back to me and I'll make sure that I answer that next question speaking of our next question our next question coming in here from Nick and as we take a look at Nick he says hey Steve long time without a question oh no problem but continue to watch your shows almost daily thank you very much for doing that would you take a look at UNG we can we'll put UNG of course you know out here Nick that we're going to have to take a look at the natural gas contract but still let's just take a look at the ETF try to answer your question out there would you take a look at UNG do you think it's around an entry point now no boy or is it going to pull back more so I think that it's going higher but the entry point would have been more than would have been well before today that's the only problem so I wish you the best too so thanks so much for for writing in so with regard to UNG Nick if we were only going to use the UNG not take a look at the natural gas contract if I were to suggest to you that now is an entry point I would be telling you to buy resistance and CB is not going to do that right and so resistance here on the UNG the top of its daily profile price is printing at 2064 and the top of that profile is 2065 even pricing it above this level here the next resistance area is the top of its weekly profile which is 2124 so is this a is this a buy point the answer is clearly no it's we're not going to have you buy resistance that would be buying a breakout but now it's got to really break out and really has to break out above it's it's it's most recent high in order to to generate that kind of breakout message but let's do this here if you bear with me I don't know if I've got the man I don't that's okay I've got a game plan B game plan B is natural gas December 21st I'll get those charts fired up on my other on my white background charts but in the meantime while those are getting ready let's just take a look at whoops think Stevie's gone too far where as natural gas should be right here copper copper copper natural gas natural gas okay so as we take a look at natural gas here we're in the December contract yeah it looks bullish because it is above the top of that daily profile let's do this Nick let's go take a look at Stevie's white background charts try to answer your question well we've answered your question now it's not the time to take a long in natural gas but let's go look at the natural gas charts 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 the technology around us is changing every day with so much happening it can seem impossible to keep up with all the information David White's investment newsletter the technology is designed to give you all the information you need to understand the technology that shapes today's markets and tomorrow's future David White has made his living staying on the cutting edge of technology his weekly newsletter will give you specific recommendations for value tech stocks as well as entry prices target prices and stops to set for each trade Dave delivers his weekly newsletters every Friday with updates throughout the week you can get the technology insider at TFNN.com for only $7.50 sign up for David's newsletter the technology insider and get an inside look at everything the technology sector has to offer try at risk free today with our 30 day money back guarantee TFNN educating investors biotech is booming but for how long 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contract for natural gas up on our screen during that break I looked at the white background chart see if there's anything of significance there to share with you and there wasn't so we're not going to waste your time going through that instead I'll just simply come back here Nick and point out the patterns inside the natural gas contract so the pattern here up at the top I would have made that high was a nice roadsman to indicator signal when that happens typically see price get back to support in this case here came all the way back to its support level and it did that on October 19 that was the bottom of its daily profile didn't get all the way back to the bottom of the profile is 503 but it was on the very two days later when a new profile form and I mentioned this inside the tiger I mentioned this during the show and got a couple questions I think inside the Tiger's den about why I said all the sudden that natural gas had become bullish and it was not because there was a completed pattern Nick so I did not have a completed pattern to the downside what we did have though and this is pattern information was we had a new profile form meaning we had a higher low and a higher high and that's a bullish signal out there and it was a bullish it was bullish in structure and so my contention at that stage I don't think we recall whether we had the descending trend line or not but as soon as price closed about 548 we would see a move to the top well that all happened in one day that was three days ago two days ago but price now above the top of the profile if your question was is natural gas going higher that's the signals are yes but as far as an entry point it really would have been you know a handful of days ago we were talking about that this new profile generated a bullish message and so I hope that helps you out thanks much for listening and I look forward to speaking to your getting email from you again so no other questions that are inside by email but we do have one inside the Tiger's den it's from John and John wants to take a look at the 30 year treasury and so let me get those charts up on our screen here first let's use this set here's our four panel 30 year treasury charts using my Stevie synthetic contract synthetic symbol that way we have historical data we have profiles that are meaningful to you and I this question is on bond futures where does resistance setup well we're really trading right into it right now John we're slightly above it I'm referring to the daily resistance that is and that's it's daily bearish structured daily profile the top is 160 20 we're 160 27 I've also got these consolidation patterns that are drawn in here so we've got another area of resistance just above this level but if price can close above the top of the the top of the current consolidation I would say that price is a body equivalent to 160 31 so just a few ticks higher from where we're trading right now but if price can do that and certainly on a weekly basis John if price can close above the bottom of its weekly profile 160 13 then that generates a message that price should make its way to 162 maybe 164 it's a 163 and 27 30 seconds the monthly chart is supportive of that idea again the idea that price close above the top of its daily profile as you say for two consecutive sessions at least close below above the bottom of the weekly profile then that signals move higher and that 160 204 163 27 would really be the target areas I don't know if there's anything else but let's just see on the daily and weekly chart to stick up stick out on our black background or white background chart so let me slide this over just a tad get our current data let's populate this thing and well I don't have anything else on this set of charts to suggest that's not the likely outcome of a move higher and this would say I'm sure your eyes point you know went right to it that price would likely go back and target the highs from September 23rd big old bearish and golfing candle and that's in the 164 15 area that's what the daily time frame shows us about the weekly chart you know I just don't have enough data here because I'm using the December contract but there's nothing here that changes our outcome or what we looked at the 30 minute chart so this will be helpful to you and everybody else TD 9 count pattern forms about an hour ago little bearish shooting star I'm sure this need to be equal CD so much like the NQ and the yes and the Dow equity future contract there's you know multiple topping signals here however in order for those topping signals gain any kind of downside traction where's price going to close below you've got it the oscillator and change line so that may just be where price pulls back to but if price didn't close below that that kind of maybe we stub our toe a little bit in the idea of moving higher so I would just anticipate maybe a sideways slight move higher but if price takes out today's high out here on a closing basis on a 30-minute time frame that says that what we just looked at on the weekly chart on the daily chart suggesting higher price at that is more likely than not what will come to fruition so hope that helps you out with regard to the 30-year treasury if you've got any other questions just go ahead and type in on the den in the meantime Mimi writes in and Mimi says please comment on MS okay so let's go figure out what Morgan Stanley is doing out here let's get this typed in on our black background charts let's get that going on the my white background charts and your question is please comment on it so in the case of Morgan Stanley what I see more than anything else is the resistance level up at 105 81 is there an indication that price wants to get up to that area yeah maybe but that's inside its bearish structured area so it doesn't have to but the bearish structured level for Morgan Stanley is between 102 16 and 105 81 out here let's pull over my white background chart see if there's some other signal information so that we can help Mimi well when we take a look at the daily timeframe we do see that the oscillator and change line change colors probably back on the trading day I say probably on October 19 what transpired the next day in the day after that but even the day after that were tests and rejections of that green oscillator and change line so Mimi that suggests that price wants to move higher that would say go and tackle the top of that weekly profile as I take a look at the weekly timeframe that top of that level that bearish structure also had confirmed a roadsman to indicator signal so you're into resistance but the daily is suggesting higher price out there on a monthly basis for Morgan Stanley let's see what we have out here you have a TD nine count top but price would need to close below 99 to suggest any downside action now it says over time price should target that oscillator and change line no I take that back I take that back skip what I just said out there don't necessarily have to have that signal so Morgan Stanley it's got it's got some it's it's got some battle areas right it's at its highs both profile wise pattern wise out here and the daily says hey I want to make a run for those highs and Mimi that's going to be the message as long as price in this case here is the oscillator and change line is so close to the top of that daily profile as long as price remains above one 10 on a closing basis Morgan Stanley should make a run for those highs so thanks much for writing and I hope that that helps you out as I take a look at all of the request we're dead we're gone zippo not on zilch have no more request in there which is not too bad because we're about to come into the last segment of the show in about a minute so let's take a quick peek out here let's see what else do we want to take a look at nobody's asked about gold or silver let me get a set of charts up here on my screen actually I had a question that came in by email or text earlier so let's go put that up on the chart here let's change screens give me a moment and what we're going to look at is both gold and silver side by side and if you take a look at gold and silver you see both of them have oscillator and change lines that change color and what we're anticipating as a price not line are going to catch up to each other the question that was posed to me in essence was hey if gold starts to really trade higher today is it possible that we've just seen a test of that oscillator and change line because if price moves higher substantially higher that line will rise my answer was yeah if that is in fact what happens if it doesn't well then maybe we just have more sideways action but what we're looking for in gold is a test every ejection of steve's green line the same thing in the case of silver Steve Rhodes with TFNN we'll be right back we're going to go take a look at BK KG sharpening your skills as an investor is like getting better at 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or so on one day that was on October 25th with some massive volume now this this instrument hasn't really done a whole lot it's not very liquid out here I mean prior to those days it was doing you know 1 million 2 million shares something like that and there's not enough data out here really to provide you with a ton of information white shark what I can share with you is so here's a daily time frame what are we going to try to pull out of this not a whole lot you're looking to short this stock at $27 stock that just has that big move with that big wide volume bar out there you are a shark out there you know I wouldn't touch this to the long side or to the short side out here until this thing settled down and we could see some kind of patterns out here but from the short side do I have a 30 minute time frame chart out here do I have a short signal I don't if that's what you're looking for if I put a 15 minute time frame chart out here do I have a short signal I don't if I look at a 65 minute time frame chart do I have a short signal I don't so I appreciate that you want to go short out here I don't see the signal that doesn't mean that it's not getting ready to turn around and head short out here but why would you trade a 27 this is just a question do you trade a stock that's at $27 and try to short it you realize your downside potential this isn't going to zero not after that wide ranging bar with the volume that I have behind that move out here so your risk is that this thing has another one of those days and I wouldn't want to be caught in that firestorm but it can do it once it can do it again out here so I would just stay clear of a schizo-frenic stock out there but that's just Stevie talking and you may decide to do otherwise I wish I could find you some type of a topping signal but I can't but anyways thanks for the question folks stay tuned we've got two more great hours coming up your favorite polar bear David White with the power trading hour he's up next after that Tom O'Brien he'll take us on home I'll be back with you tomorrow on terrific Thursday have a wonderful Wednesday folks thanks for being here be safe out there