 The following is a presentation of TFNN. The Traders Edge with Steve Rhodes. All toll free at 1-877-927-6648 or internationally at 727-873-7618. The Traders Edge. Now, Steve Rhodes. Good morning, folks. Welcome to the October 24th. The marvelous Monday edition of today's Traders Edge show. I'm your host, E.V. Perseverance Rhodes, who absolutely knows that each of us should always be pioneers of our future versus prisoners of our past. Hope everyone else is having a great day. Let's make sure we have an extraordinary one. 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 2x4 shift, it means we can find a gift in every set of circumstance that life is going to toss at us. Now, today you and I, we're going to go check on the circumstance of these markets. We'll go figure out what those bulls and bears, what those buyers and sellers are communicating to you and I at just past 11 o'clock in the morning. I want you to know I'm absolutely grateful for your presence here, but more important than that, and that's this. During this next 53 minutes, I'm here to serve you. So feel free to pick up that phone. You can dial on at 877-927-6648. Now, if you can't dial in, we've got you covered there too. You can always send me an email. That you would send to Steve at TFNN.com and inside the subject heading, you'd put radio show question. Of course, inside our Tiger's Den, well, any. And every ping will do. So let's go ahead and get this show started on magnificent Monday. My apologies. I'm sorry I've been fighting off a little sneeze there. I fought that one off. Hopefully I'll continue to fight it off. So in any event, I don't even remember where I was at, but welcome to the show. So let's go ahead and get this show started out here right now. We've got a little bit of a mixed bag. That mix goes like this. The Dallas trading up 258 points. Eight tenths were set. S&P, a half a percent, or 19 points. The Nasdaq 100 is off two tenths or 19 points. The Russell is off about three tenths or five points. And about a half a percent for the semis down 11. Nineties are up 288. That's over 2% to the upside. Gold's off five bucks. Trading out a 1651. Silver's up a nickel. Trading 1912. Blights recruit us off 31 cents. Natural gas up 28 cents. And they're 30 treasures off one point and three ticks. Lead into charge. Dollar wise to the upside. You've got Avis a budget group up 22 bucks and changed only 12%. O'Reilly Auto Mode up 22 bucks or 3%. Regenerative pharmaceuticals, 15 bucks or 2%. Elevance cell, 13 bucks, 2.5%. BlackRock, about two and three tenths or 14 points. To the downside, it's booking holdings off 43 bucks, followed by Mercado Libre off 38, followed by Huadi International 27. Pinduoduo is off 16 and Baidu is down 14. So we certainly have some movers and some shakers. Of course, I want to look at what you want to look at. Let's go start by taking a look at what's going on inside the equity futures markets. Let's begin by taking a look at that NQ or the Nasdaq 100, which is off 22 points right now. So as we look at it, I'll start just from the lower timeframe. So I'm going to go from a read from the lower right to lower left and then upper right to upper left. So we look at a 10 minute timeframe chart out here. You'll see this move lower bottom with the TD nine count pattern. It did that at 1040 on a 15 minute basis. We have the same pattern. Of course it completed at a slightly different time frame. That completion took place or will form the nine count at 1030. I confirmed it by 1045. If we take a look at the 30 minute timeframe chart, this had a TD nine count earlier or late last night about 630 in the evening. What that did was that led to a test of support. That was the breakout level of 11. Still okay. Thank you. Sorry about that folks. I forgot to change my window, but my good man Al in the production room just slapped me upside the head with that two by four. So thanks for that Al. So now lower right, 10 minute chart. You'll see at the very bottom, bar number eight, a TD nine count pattern. On the 15 minute chart right next to it, you'll see another TD nine count pattern. Now we take a look at the 30 minute timeframe chart. A TD nine count top, that again took place at 630 last evening. That sent price back to its breakout level of support. Did that at 1030 this morning. Price right now is that needs to close above, well really needs to close above 11, 475 and a quarter to suggest that it's something other than the consolidation between TD nine count breakout support, 11, 235 and a quarter, and TD nine count breakdown resistance, 11, 475 and a quarter. If we look at the 60 minute timeframe chart, it too has a TD nine count top, and that took price right back to support, its support level being the bottom of its current profile. That's a 11, 214 area. On a two hour timeframe chart, don't really have much there other than price consolidating with inside its profile, the same for the 240. The five hour timeframe chart, really I take that back. Now that we can see the A to B equal CD patterns out there and the five hour chart, you had a confirmation of a sell, the D point on the 240 as well as on the 120 minute chart, but price just pulling back right now and testing the support area of the oscillator and change line or the profile areas. Then on the daily timeframe, so if we get over to the daily timeframe, we know that price closed above the top of its daily profile on Friday. This morning to pull back, we see some areas of support, 30 minute timeframe chart level of sport, and then bottom patterns on the 15 and 10 minute. While that was taking place, price was testing the top of that daily profile. So long as price remains above the top of the daily profile, 11, 231, and especially if price can close above Friday's high, and Friday's high out there is 11, 386, 25, that's going to tell us about a further rally. Now the further rally in the NQ, its price target would be the October 6th swing point. That October 6th swing point extends from a low of 11, 505 to a high of 11, 729 out there. You close above 11, 729, and then that would signal to you and I that the NQ would want to target the 12, 987 area. One step at a time, facility. Let's go take a look at the EES mini out here. We'll see what its chart patterns are signaling. Oops, that didn't work very well, but we'll see if Stevie's fat fingers can get this typed in here. There we go. What I'll also do while this chart is populating, just out of curiosity, see where we're at with regard to our TAS market breadth for the four different timeframes that you and I track out here. So I'm getting that going at the same time that these EES mini charts here are populating. And as soon as I can get to whichever one gets done first, well it looks like it's the EES mini. So here on the 10 minute time frame chart, no TD9 count bottom like we had on the NQ, no signal on the 15 minute chart like we had on the NQ. The 30 minute time frame chart pulling back into a level of support, that is its bullish structured profile. It did have a TD9 count topping pattern out there. Signals again, not as clear on the EES, you had a nice TD9 count top on the 60 minute time frame chart. That just took price back to the center of its profile at that time. There's a new profile that is formed above the prior profile with support of 3743 and resistance up at the 3801 level that did form above the prior profile. That's a slightly bullish message out there. What else do we see? You know what else we see? What do we see? Let's take a look at this A to B equals CD pattern for the EES mini out here. And we're just going to look at this via the five hour time frame chart. So if we draw in the A to B pattern out here, which we'll draw in, that's going to be up to bar number seven. And we're just simply going to copy that and paste it. So the old copy, paste and assemble, in other words, TV is a CPA. So if we go take a look at the cut, paste and assemble process out here, we go ahead and we move that to the C point. We'll see that there is an A to B equal CD pattern far from being completed. That A to B equal CD pattern would get us up into the 3917 level. And if we take a look at a five hour time frame chart and we look for where the breakdown area of resistance is at, the next level is up at 39 and a quarter. So you can see 38, 11, 50 is where price has to close above to negate its TD9 count breakdown area out of five hour time frame chart. Steve Rhodes with TFNN. We'll be right back. Teddy Kegstad has just announced a live webinar coming up for subscribers to his newsletter, The Tiger Forex Report. Wednesday, October 26th at 4 p.m. Eastern Time, Teddy will be hosting a live 60 minute webinar, forex strategies and fundamentals. What is behind the Tiger Forex Report newsletter? In this 60 minute webinar, Teddy will be discussing a full breakdown of the markets that influence currency pairs, as well as applying those variables to individual currency pairs, how to evaluate trading scenarios for risk versus reward, as well as a live question and answer session. Sign up now and gain instant access to this live webinar coming up, as well as a month subscription to Teddy's Tiger Forex Report, which comes with a 30 day money back guarantee and nothing to risk. Don't miss out on this live webinar event with Teddy Kegstad, Wednesday, October 26th. Sign up now for the Tiger Forex Report at the front page of TFNN.com. You might think that if you want to be successful at trading in the stock market, you're going to need a crystal ball. After all, it's impossible to predict the future, right? Like any endeavor in life, before you decide it's impossible, get some advice from the experts. You might find that it's not so impossible after all. For daily market overviews that give you direction on the key indices, selective stocks and commodities, subscribe to the Opening Call newsletter at TFNN.com. The Opening Call newsletter is written by Basil Chapman, creator of the trading methodology known as the Chapman Wave. The Chapman Wave up-down sequence gives you an edge in identifying price turns, finding the peaks and valleys in stock prices. Get the Opening Call from Basil Chapman in your inbox every day. First-time subscribers also get a 30-day money-back guarantee. If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up. TFNN.com Educating Investors 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 2 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 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 Right now, the TAS Market Breath Speed dials, those are in the upper right-hand corner. You'll see that the 60-minute, 240-minute and daily, they're all in the green zone out there. That means that there's more instruments for those specific timeframes trading above the top of their daily profile versus trading below the bottom. The weekly is the thorn in the side out here. If we take a look at the weekly right now we'll see there's 89 instruments trading above the top of their weekly profile, 153 below the bottom. So that's the first thing we take a look at the NASDAQ 100 out here. We'll see a similar picture, 6240 daily. They are in the bullish configuration whereas on the weekly timeframe 16 instruments above the top, 27 below the bottom out there. So that says we still should expect and anticipate a choppy market out there. The second aspect of the choppy market comes from that spot volatility index. So as we change screens out here, we'll go to our black background screen. The chart that's going to pop up here momentarily is going to be the S&P 500 up at the top. You'll see these green and yellow rectangular type boxes, rectangular box. And that is represented in the time periods where for the most part the spot volatility index is either above or below the 50-day exponential moving average. We've been above the 50-day exponential moving average since about the trading day since about I'm going to go one more. There you go. Since about August the 26 out there. We had about one or two days below that level. Now when the spot fix is about that 50-day, if you take a look at again those yellow rectangles, the markets typically move sideways to lower. That is unless we formed a bottom out there. And there are bottoming patterns inside the S&P 500. Many of all the indices or most of the indices out there either rose mint de-mindicator or TD9 or buy the D-point patterns out there and sometimes a combination of all of those. So right now still choppy conditions they would not be choppy. If you get that spot volatility below the 50-day, then you'd see the S&P 500 really take off to the upside out there. So let's do this. I believe we have a question that has come in and so let's get to it. Nothing inside the tiger's den that I see at the moment. Actually there looks like there's one two questions coming in by email. The first one from Hector and Patty Hector says happy marvelous Monday. Well thank you. Back at you. COP. So ConocoPhillips is the ticker symbol that we are going to take a look at. Let me put screen are we on? Black, there we go. So here we've got ConocoPhillips. You see on the daily time frame I have an A to B equal CD pattern drawn in. I can see a second A to B equal CD pattern. I see here an A to B equal CD on the weekly time frame. I'm just doing a little housekeeping on the charts here Hector and then we'll go back and actually read your question. May have nothing to do with the A to B equal CD patterns. So let's go read it. It says COP, a weekly A, B, CD up with projections please. Well they're perfect okay. Been riding this boat for a while. Does the bull still have legs? So if we take a look let's expand out the weekly time frame chart and here's what Hector is looking at. So what Hector is looking at is last week price close of ConocoPhillips 124.08. 124.08 was the weekly swing point high from June 6, the week of June 6, 2022. Volume there was 35 million shares. Last week was 31 million shares. So price closed above that but with lighter volume. Does that mean that the A to B equal CD pattern will not complete? Absolutely positively not. That is not what it means. And just if you pass with volume, you've got a better operative, you've got a better likelihood. And I can't even nail that down to be completely accurate. Maybe David White who's got some of that data could add some light to that. But first of all Hector, you do have price trade with that 124.08 and along the C to D side, you're in a strong side from a price standpoint. You're on the left side of that C to D angle out there and you ask for the price projection. Well, gee, Stevie, just give that to them already. Well, the one to one, and this is a smaller A to B equal CD pattern because there's large ones that we use out here. So I'm giving you the more conservative one, 136.32. But let's go take a look at the monthly timeframe chart. Here maybe we don't need to be as conservative. So what are we going to use while hmm hmm. So when I look at a monthly timeframe chart out here, the A to B equal CD that we'd be looking at the B point would be the month of June out there. That month did 200 million shares. You're only at 109 million shares today as of 24. So you're going to, you might close above it, which is still bullish. Again, we're looking at a monthly chart. Just closing above last week's high is a bullish signal. But is that going to give us that large A to B equal CD to upside? You know, Hector, don't don't, I won't draw that in there. Oh, okay, I'll draw it in there because you were asking. You say, you were saying, I know you were just sitting in the background saying, come on, Stevie, would you at least just draw that in? Well, the A point out here could be March of 2020. The B point could be this June high. The C point could be this retracement down in July. That was a 44% retracement and the 1 to 1 would get us up into the 181 54 level out there. Now, just for blanks and giggles out here, let's go take a look at the white background charts. Let's see what ConocoPhillips has to say there. See if there's anything that Hector and Patty need to know about. So as we look at the daily timeframe, that's on the left-hand side. Things look bullish there. I look at the weekly chart. Things look bullish here. We're trying to have last week's high. Same on the daily and the monthly. So not much more for me to add there other than if you close above on a monthly basis, the June high, that'll take care of a resistance level up at the 124.8 and truly suggest higher price. So Hector and Patty, thanks for taking the time to write in and you guys have a magnificent Monday. Tim M writes in and Tim wants to take a look at ticker symbol DRVN. So let's get that up on our screen out here. DRVN and that is Driven Brands Holdings. The question reads like this. Could you please take a look at Driven Brands, DRVN? Okay, good. I'm in a long position looking for support levels on the daily and the weekly timeframes. Well, that's easy enough. Your first level of support on a daily timeframe is going to be $31.34. $31.34 is the top of its daily price closed above it on Friday. You're trading above it today. That becomes support. If that level fails, Tim, next area of support would be that oscillator and change line, 3087. See how the oscillator and change line on Friday changed colors and price was testing and rejecting that? That's a very bullish signal out there. Now if it really is bullish, price will close above $32.60. That's the resistance level, the TD9 count breakdown area from the daily timeframe. Tim, you didn't ask about that but I've given it to you. The next support level, if price were to close below the oscillator and change line, 3059 and 2909. That's from the daily timeframe. On the monthly timeframe, the weekly timeframe you've got price that is consolidated with inside its weekly profile. Tim, that ranges between $29.98 and $32.62. You close above $32.62, price would go target a TD9 count top from the weekly timeframe. That was the week of September 16th and that high out there is $35.45 the low, $31.78. Now there's 7.9 million shares on that. Last week you were moving into it with 3.3 so you're moving into it with lighter volume. Support by the way, $29.98 on the weekly timeframe as well as $30.89. Now that's the oscillator and change line. Tim, I hope that provides you with all the information that you are looking for. I believe that it does. Now go ahead and write me back and we'll make sure that we get that out for you. Inside the Tigers Den see if I've got a question here from SNP. We do and we're going to get to it when we get back from this break and his questions are about EQT looking for an entry and Shopify, SHOP. So we'll do that for SNP and the Tigers Den as soon as we get back. 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 metals 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, the XAU, HUI, GDX as well as more than 30 different mining equities. To see for 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 Report on TFNN's trade. Sign up today. Art of Timing the Trade Charts is designed to help you when scouring the markets for stocks just beginning to form the trading patterns that many investors spend days, weeks or even months searching to find. And right now we're offering licenses available at only $79 a month. We are so confident that you're going to love this new charting software that will even give you a 30-day unconditional money back guarantee. Don't miss out on this incredible new piece of software. Get your copy of the Art of Timing the Trade Charts today by visiting TFNN.com. Sharpening your skills as an investor is like getting better at playing a musical instrument. You have to practice, sure, but you also need excellent instruction from experts. At TFNN you'll get advice and guidance from the authority in technical market analysis. And it's not just dry tedious text either. TFNN airs live financial content streamed live on TFNN.com and TFNN's YouTube channel with Tiger TV live every market day from 8.30 a.m. to 4.00 p.m. Eastern for free. Each host is an experienced trader and gives their take on the market while taking calls and questions live from around the world. From the moment the market opens until the closing bell sounds, Tiger TV has eight different shows with expert hosts to help you make the right moves with your money. Watch online at TFNN.com or on TFNN's YouTube channel and become the investor you were born to be TFNN Educating Investors This segment is brought to you by Think or Swim. For more information just click the Think or Swim banner on the front page of TFNN.com Welcome back folks. Let's go on to our next question. This one coming in from the Tiger's Den from SNP wants to take a look at two different instruments. The first one is EQT and it's set up on our screen here. You've got the daily, weekly and the monthly time frame. So SNP are you seeing what I'm seeing with regard to this daily time frame chart and Friday's action out there? So we take a look at Friday's action. Price moved lower with volume of 14.1 million shares. Price closed below the swing point, the B point of an A to B equal CD to the downside and it did it with volume. The volume on that trading session, that is September 2019 was 8 million shares. So it was passed with twice the volume out there. So that is suggesting that there's an A to B equal CD to the downside pattern that is unfolding. The A point being the high from September 14th, the B point being the low from September the 29th and the C point being the high from October 6th. That would give you a one-to-one price projection in the 3209 area. Now if this A to B equal CD pattern SNP is going to form, price must close below the bottom of its weekly profile and that's where price is found support. So we do have a confirmed A to B equal CD to the downside. I would say not so fast, not just yet but the confirmation of that SNP would certainly be a close below 3778 out there. So that's what I would be watching on the daily time frame. There's no other pattern. What I mean by that, we'll go look at the white background charts out here. I want to say there's no other pattern. There's no TD-9 count. There's no rogment and indicator. Bottom signal in fact, the TD-9 count bottom signal was negated on Friday and that was the one that formed on September the 28th out there. You do have additional support at 3657 but what I would really be doing is I'd watch the bottom of that daily profile, a weekly profile, 3778 out there. You close below that odds favor the A to B pattern. A to B equal CD pattern is underway with the at least a price projection in the 3209 area. You also want to take a look at Shopify, SHOP that's a ticker symbol there. So let's go ahead and get those charts populated. SHOP I want to get that on my black background charts as well and so we take a look at it at Shopify. Okay so what I don't have I don't believe I do it's not like on a daily time frame. I can point to a specific bottoming pattern out here. There's not one that visually stopped that sticks out at me. The weekly time frame chart, totally different story out there. Why is that? Well you got a nice TD 9 count bottom that formed two weeks ago. You close above that high last week that is a bullish signal and you've got a new profile. Now this is the new profile suggests that it's very possible this is just a trend rally. What do you mean Stevo? Well let's do this. Let me switch back to the black background first is there anything else to look at here. Shopify on a monthly basis as a monthly TD 9 count bottom. So everything here in Shopify is pointing to a bottom however now let's get to the however out here the bad news the good news the bad news or just simply the news out here and that is the profile that formed this week that is forming as we speak right now. So as we take this back we can see that this profile formed below the prior profile prior profile formed below its prior profile which formed below the prior the profile before that and then the profile before that. So it's telling us about this little downtrend now what we haven't really seen are any closes above the top of a daily profile this is a weekly profile. It's what I really mean is we haven't seen any close above the top of a weekly profile. So what I would say here SNP is if price did close above $33.37 we know we've got that weekly TD 9 count and rogment to indicator bottom pattern out there if price did close above $33.37 then Shopify would certainly be signaling a change in trend that change in trend you can see I drew in we might have done this on Friday a A to B equal CDT upside it's going to require a close above $29.72 now there's 22 million shares on that trading session $37 million though on Thursday there were $32 million on Friday so price is really trying to complete this A to B CDT upside inside of Shopify that would then give you a one to one price projection of $33.93 and above that you'd be looking at $35.59 so what do you do? Let's see if there's any I don't see any other signal that's worth noting out here so I'd say in the case of Shopify things look good things look like they want to move higher but what I'd be watching for S&P is how does price deal with $33.87 should it get there and that's where it would release that information to you so hope that helps you out thanks much for the request much appreciated the next one coming in from HD via email he says hey Steve I was looking at TLT for a long at about $92 would you please look at the technicals please absolutely so for the TLT let's get back to black background so let's do this a couple of things one let me get the ZB going ZB2 and now what I'm going to do here I'll put TLT up on our screen the three panel charts out here but HD you know the routine Stevie's not really going to spend a whole lot of time here because I'm not really that interested in the ETF as I am interested in the the actual underlying instrument the 30-year treasury but what this does show you is you're trading below profiles for daily weekly and monthly yeah so so nothing really good there but the question is is there some kind of bottom signal that HD can take a long position on so let's go look at the white background charts out here and then white background charts if we start with the daily timeframe here's what I want you to really a couple things that would share with you about this when I look at this chart not like that but when I do this you see this linear move here a very linear move all the way down until we got to this little TD9 count bottom on September 27 then we had just a few day rally right up in the resistance of its bearish structure daily profile out there and then I continue to move lower linear moves like this are typically trading this if you watch on an inter-day chart for example and you watch some of the some of the stocks like Apple and so forth you'll see you'll see when there's a trading desk Stevie's theory only I can't hook in anybody to to prove it but it's it but it's really good theory it's a really good one I believe that it's actually true and that is if you watch like on a 10-15 minute chart inside of Apple sometimes you'll see just as linear moves to the downside that is a trading desk exiting that position and they're just simply telling you know their folks just to keep it in check not to not too much the downside not too much the upside just simply manage the position and liquidate it now here and I can't prove it but I mean you can you can choose anyone from across the globe out there but certainly China would make the most sense we know by looking at BIS information not BIS information but BIS information out there that China has been unloading bonds out here and so they've got a lot to unload but with regard to your specific question as we take a look at this so I wanted to point that out to you first S&P do you really I'm sorry that was HD do you really want to get in the middle of a liquidation that's going on sovereign wise out here I'm not talking about a small player regardless you asked me about the technical picture if you look at the 30 day 30 at the 30 year treasury out here you've got a rosement and indicator signal that has been triggered it needs a bullish reversal candle until you get that you won't have any kind of a bottom and price would not get any traction to the upside unless price could close above that red oscillator and change line so that's the first things that you would be looking for now that's in the daily time frame let's go see if there's some intraday signals out here to suggest that maybe there is a move to the upside that's going to begin well if we look at the five hour time frame chart you've got a rosement indicator signal that's been triggered it needs a bullish reversal candle to confirm the same thing for the 240 even though it says bullish hammer candle right now this chart this candle is not complete until 2 p.m. so 1138 bullish hammer may not be that when we get to the 2 p.m. time period we get back to this break we'll finish looking at the 30 year treasury that is for HD see roads with TFNN we'll be right back you might think that if you want to be successful at trading in the stock market you're going to need a crystal ball after all it's impossible to predict the future right like any endeavor in life before you decide it's impossible get some advice from the experts you might find that it's not so impossible after all for daily market overviews that give you direction on the key indices selective stocks and commodities subscribe to the opening call newsletter at TFNN.com the opening call newsletter is written by Basil Chapman creator of the trading methodology known as the Chapman wave the Chapman up down sequence gives you an edge in identifying price turns finding the peaks and valleys in stock prices get the opening call newsletter by Basil Chapman and your inbox every day first time subscribers also get a 30 day money back guarantee if you're not satisfied let us know and you'll get a full refund within 30 days of signing up TFNN.com educating investors David White's investment newsletter the technology insider is designed to give you all the information you need to understand the technology that shapes today's markets and tomorrow's future David White has made his living staying on the cutting edge of technology his weekly newsletter will give you specific recommendations for value tech stocks as well as entry prices target prices and stocks to set for each trade Dave delivers his weekly newsletters every Friday with updates throughout the week and you can find the newsletter at TFNN.com for only $37.50 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 China shares hot or not if you trade China shares now maybe time to take a closer look trade CHAU or CHAD China shares China 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 should be read carefully before investing an investment in the funds is subject to risk including the possible loss of principal the funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor four-side fund services LLC this program is brought to you by Vista Gold traded on the NYSE American and TSX under the symbol VGZ folks so we're taking a look at the 30 year treasury out here this is for hmm I think it was for HD that had written in for that so we're looking at the daily we've covered that the five-hour we covered that the four-hour needs a bullish reversal candle and close above it's also a change line to suggest some kind of traction to the upside the 120-minute chart the same kind of pattern now it's bar here currently a hammer candle this is going to complete at 12 noon so you've got about another 18 minutes or so before this completes if you get a bullish reversal candle then it's next price our resistance level be the asset or change line and then up at the 120-03 area is where it would likely target so you know HD if you're looking to trade the 30-year treasury and it's just an intraday ish or very short-term style trade then cool you know wait for some of these intraday signals to confirm the 60-minute time frame chart may confirm a rogment of indicator bottom pattern as well but as far as a long-term trade I say don't even consider it now I could absolutely wrong here I'll just share with you the reason why I say don't even consider it or just a couple of the reasons here are the daily weekly monthly and quarterly charts for the 30-year treasury and we'll see just this huge waterfall that has taken place this year prices below all levels of support now when I say all levels of support I'm referring to the TD I'm referring to the task market profiles so really not a good scene out here no bottom in the site that I see so other than an intraday set of trading out here you know you're almost better off looking to sell rallies than you are trying to take a long position inside of TLT and this could this could last for quite some time remember here the daily time frame chart that linear type move on the way down that is the absolute signature of a trade desks or desks that are jettisoned out of these positions out here so anyways be careful because we're careful about everything or we try to be let's go to our next question this next request coming in from Duncan Steve Duncan wants to take a look at the Amazon out here AMZN is a ticker symbol and it is Amazon for short term buy trade so let's switch over to the Amazon charts that would probably be helpful there we go and do I am on those charts no got to change the actual screen thank you okay now we are on the Amazon charts out here what we see with regard to Amazon is taking on a swing point out there I'm going to look at my other screen see what kind of volume we're dealing with here AMZN is it taking out that swing point with volume well the swing point I'm referring to was the trading day of October the 18th there was 65 million shares the high was 1952 the close on Friday was 1932 the volume was 55 million shares pushing into 65 so a little bit lighter volume today though through the first two hours of trading you are at 22 million so if you multiply that times three basically you're at the 60 million range so you're very close to the volume on October 18th I don't know that that your math calculation of volume is really going to keep pace with it but you could be getting could be generated an A to B equal CDT upside your specific question was though looking for a entry point into this for a short term buy trade out here so just real quickly daily looks like an A to B equal CDT upside is being is forming you're above it's a bear structure daily profile the weekly chart no bottom signal but there is a prior bottom prior rosement indicator bottom price point back in that area could be the sign of consolidation but prices above the change line that suggest a further counter trend move up to the 130 area could unfold and on a monthly time frame Amazon found support at the bottom of the current monthly profile so that makes a lot of sense then to go ahead and take a look at a possible short term long position the ideal area right now is a look at a 30 minute time frame chart because this would have a rosement indicator top would be a pullback all the way to one 1450 now I'm not saying Duncan that you're going to get that but if you're asking where would be the ideal entry point which I believe is what you're asking I would say it would be the TD nine count breakout area out there that's not to say that one 1810 doesn't hold price but it was you know we just see a push through it earlier this morning a couple of hours ago hour and a half ago or so so I'd be patient on this one and see if you get a pullback to one 1450 that's the 30 minute time frame chart where we were take a look at his TD nine count breakout level so is there anything else on the Amazon that I can share with you yeah not much else that I see out there Duncan so thanks much for the request I hope that helps you out there's another piece of information that you're looking for then please feel free to share it I know you posted in there you said moves dollars every day up and down it does in fact the average true range over the last 10 trading sessions is $4.99 cents out there so a good observation on your part thanks again for the request and have a magnificent Monday I don't believe there's any other requests inside the Tigers then if there is just a bop me upside the head I don't have anything by email so no bopping needed there and so that just says let's go see what's interesting so go back to the go back to just the general markets let's take a look at the semis let's go to the SMH is out here so let's get those up on the screen I'm sure somebody wants to see those if the market is going to bottom certainly the semis need to maintain that same bottom so let's go see what patterns we have out here and on a weekly basis the SMH is last week confirmed a TD nine count bottom now you could get a lower low this week for that pattern but you've got a brand new profile in the SMH on a weekly basis that is formed with support at 178.16 resistance from a profile sampling 211.73 on a daily timeframe rogement communicator bottom signal price consolidating with inside it's a daily profile odds favorite moved to 189.61 if price were to close above 189.61 that takes us up to the 209 area and on a monthly timeframe chart the SMH's look like they will complete a TD nine count bottom next Monday now I say looks like because the SMH's will need to close below if that TD nine count monthly pattern is going to form they need to close below 203.73 in order for that to come to fruition next Monday on a 30 minute timeframe chart so now we're going to the shortest timeframe right now that I'm tracking for this and you've got a rogement communicator signal a top out there for the SMH's 178.55 would be a nice buy point area that's a TD nine count breakout level on the 30 minute timeframe but all in all the SMH's they're holding up pretty well you got that nice TD nine count bottom on the weekly timeframe you've got a rogement communicator on the daily timeframe consolidation with inside of profiles and price should go target the 189.61 and above that again 209.37 so that was on the SMH's what do we want to look at that next for the next 20 or 30 seconds out here what do we want to look at car Avis budget car company let's go see what Avis is selling out well it's selling at 2144 I'm sorry it's up 2144 it's selling at 210 it's up about 11% nice big move out here negates its TD nine count top it does that on Friday tells us about a strong moment to move to the upside that's what we've got going where is it the car is likely headed to excellent question I would say based upon the weekly timeframe chart based upon the monthly timeframe chart car once said a 252.45 trade down to 209.58 Steve road with TFN and the dow's up 318 S&P 27 we'll be back in just a few 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 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signing up subscribe to the Fibonacci 24 7 newsletter today TFN and dot com for more exciting trading investors TFNN has launched the Tigers then 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 Tigers then available to all Tigers and Tigris's for just $1 for the year there's no catch or added costs when you join our community of traders sign up today and become a part of this and visit the front page of TFNN dot com let's go out to the mile high city to speak with Ron in Denver Ron thanks for calling thanks for holding for you Steve thank you for taking the call you bet a few weeks ago then about a week and a half ago I went ahead and I bought some more calls what would be a what are my chances between now and November 18th what kind of target well you know it's a great question I've got the white background screens and I chart out here I'm looking at the daily time frame and then a daily time frame it's pretty easy to see the A to B and the C to D pattern which is going to complete at about the one to one would take us to about 961 the actual high today is a 945 out there now just because it gets to the one to one completion of an A to B will see any run does not mean the move is over out there but today is also going to form bar number 8 9 so it looks like to me that we're looking for a short term top to possibly form here in BRLT and that would be between today and Wednesday that top being the TD 9 cone if you were to get a bearish reversal candle during this time period as well these next few days that would then generate a sell the D point pattern even though we haven't made that full move to 961 we've gotten close enough in our work or maybe it does make that move out there so I would say now that may just be a small pullback to support and a small pullback to support run would be really the top of its daily profile either 818 or the center and it was a bearish structured profile so that says a counter trend move meaning a move lower would or should find support at 787 now it could do all this work what did you say the expiration was in November November 18 November 18 you know the their number say they got almost 14 bucks if you're in cash their sales are moving up I don't know people are buying diamond rings I guess engagement rings well that's a beautiful thing look the stock chart looks good you know you're above last weeks high right now you're above Friday's high but your concern is just simply over the next couple of days the TD 9 call pattern and or watching for some type of bearish reversal candle run we're closing out the show I think I'll sell a couple