 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 Stevie Perseverance Rhodes who absolutely knows that each of us should always be pioneers of our future Versus prisoners of our past hope everyone out there's having a great day Yeah, let's make sure we have an extraordinary one and the easiest way to do that Well, it's 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 ship Well means we can find the gift in every set of circumstance that life is gonna toss at us now today You and I we're gonna go check on the circumstance of these markets We'll go figure out with those bowls and bears what those buyers and sellers are communicating to you and I At just past eight o'clock in the morning That's right if you are listening at the normal time frame, which is now 11 to 12 Well, we'll make this show as pertinent as we can for you if you're listening live though We would love to hear from you you can give us call it eight seven seven nine two seven six six four eight Now if you can't call in again if you're listening between eight nine 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. I'm Steve Rhodes Welcome to the show as we take a look at the US equity futures They're all trading lower now is only off by 11 points and that's that getting hit hard because of Apple and and Amazon's down 114 points That's about 1% to the downside the S&P's up 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 hang saying 2% over 2% for the Shanghai and the Nikkei off a little bit less than 1% of 240 points over in Europe this morning the DAX is trading lowered by 75 and the Putsi's off 27 Gold's down 13 Silver's down 24 cents Platinum's off 11 bucks Bladium's down 25 coppers off six pennies lights we crude 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 US dollar index up 222 ticks course. I do have a 10 minute delay out there. It's trading out at about 1 and 10 67 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 S mini what this doesn't show is 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 26 That's at 38 97 50. Well, what we also have a 38 97 50 now is a new bearish structured I'm sorry bullish structure 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 longest price Closes above the bottom of its daily profile. 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 closed below yesterday's low in the spot ball tunics yesterday's low is 26 94 Well, why that's going to suggest move down to its lower Bollinger band. Let's say 50 to 1 Bollinger band set of Parameters and that would not be targeting 25 But it would also negate the TD nine count bottom and that that would suggest that the ES mini would at least go target that High again that TD nine count high 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 what 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 Would 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 They're representative of time periods where the spot ball tunics 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 box off to go back and update this chart out here But typically when the spot ball takes 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 a 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 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 inside its 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 River City If we take a look at that US dollar index speak into new profiles It too is attempting to form a new profile the bottom of it 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 1.0 and 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 the support area being its Roadsmen to indicator bottom level at 16 22 20 and resistance being the top of its daily profile at 16 82 Silver finding clear resistance at the top of its daily pro a weekly profile. That's at 1957 lights we crude should go target 1994 you got natural gas Consolidating with inside its daily profile as well support between 568 and Resistance at 636 and the 30 year Treasury attempting it has a nice buy the d-point pattern But price struggling at resistance levels those resistance levels being 121 and a quarter 123 14 and 120 409 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 time frame That I think is the one that's most significant to us is the 30-minute time frame So, well, let me do this first. Let me do this. Let me let's say we're in the blackberry. Yeah So let me make sure I'm clear about this We have a TD 9 count top in the ES mini We have a TD 9 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 be 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 It'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 its daily profile out here It's only two of the four 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 Currencies commodities and bond markets are as important as ever right now with how they're driving the volatility in equity markets across the globe Which is why it's a great time to try out Teddy keg stats tiger forex report Teddy keg stat breaks down the forex markets every Monday using his 30 plus years of experience as a trading veteran of futures Forex stocks and options Teddy releases his weekly tiger forex report every Monday morning with coverage of all the major currency pairs Including the dollar index the euro dollar pound dollar dollar Swiss dollar yen as well as many more And he also has weekly coverage of the crude oil market and the 30-year T bonds as they both influence forex markets tremendously When you sign up for the tiger forex report, you also gain instant access to Teddy's 60-minute webinar archive He just hosted forex strategies and fundamentals What is behind the tiger forex report for all the details and to start your 30-day tiger forex report subscription today? 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Tom O'Brien is here to help Tom O'Brien has been successfully trading markets for over 30 years a frequent contributor to TD Ameritrade Network and CNBC Tom O'Brien founded TFNN over 20 years ago to help educate investors just like you Tom's daily market newsletter market insights is published every morning when the markets open to give you the competitive Informational edge you need to succeed These newsletters are packed full of Tom's advanced technical analysis and are geared to deliver comprehensive strategies for a successful portfolio Get Tom O'Brien's newsletter market insights today and try all of our products and newsletters 30 days risk-free With our money back guarantee at TFNN.com TFNN educating investors 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 newsletter by 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 877-927-6648 internationally at 727-873-7618 Folks at Dow futures about flat there are five points right now three points. Yes, many is basically flat It's an Aztec and S&P that are trading lower by 1% and a half percent It's the S&P 500 Taz market breath signals that we're looking at right now 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 positive market breath 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 Nasdaq 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 We take a look at the Nasdaq 100 out here the Nasdaq 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 for 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 Nasdaq so let's look at the 30 minute time frame charts out here Each of these form TD 9 count bottoms those TD 9 count bottoms form or were confirmed at about four o'clock this morning So you can see those on your panel on your screen out here What price that would 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 TD 9 count breakdown area So for the ES mini 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 rallying folding for the NQ As weak as it has been 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 11 515 if we take a look at the Dow equity future contract also a TD 9 count bottom It's key level of resistance that would need to fail to suggest that it's rally on would be 32 134 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 18 1350 the actual high half an hour ago was 18 13 20 So a close above that is going to suggest and that being 18 1350 is going to suggest to move higher now Likewise, we've got a TD 9 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 chains on it does suggest that price should take a look run at those TD 9 count breakdown Areas, but of course on the 30 minute. They're still negative market breath So not now price close above those that those a TD 9 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 Stampoint as we speak even though it's got a TD 9 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 9750 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 comes up at the top of 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 SNP inside the Tigers den And SNP wants to take a look at Taiwan a semi. I believe it's Taiwan some of 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 I 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? Because Amazon could be generated an A to B equal CD to the downside today. So I take a look at Taiwan semi conductor We have out here SNP is we have a roadsman to 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 the center and the bottom are the same thing So 63 58 now that should have acted as strong support SNP It 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 I don't know if 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, it's first started trading below but more importantly close blow next Friday this pattern We're getting it getting negated tell us 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'd 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 and 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 a 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 I thanks so much for your early request Robert writes in he wants to take a 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 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 aka Tucker. Well, we miss you in the then to but thanks for the request out there So natural gas is right now. It does have a buy the D point pattern We're looking at the daily time frame chart. In fact, I'll just simply expand this out Well, all the other charts are still populating. So let's just give this moment here So we're gonna have to do that Bob when we get back from the or Robert when we get back from the oh, he said Bob Well, we get back from this break out here But on a daily basis natural gas right now just consolidating with inside its daily profile after forming a buy the D point pattern Ford's daily time frame. Steve Rhodes with TFN. 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Thanks so much for doing that We'll be back to normal programming hours on Monday 11 a.m. Sharp But we're taking a look at the natural gas contract. This is for a bob So again the daily timeframe Bob You've got a valid buy the D point pattern that was confirmed with that bullish piercing candle That 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 five dollars and sixty eight cents That's gonna at least suggest a run for the low from October 24th that low being five thirty four If you look at the other timeframe charts out here, Bob The only one that sticks out to me that's got a valid bottom or topping pattern out here It's really a topping pattern and signal is the four-hour timeframe chart It's got a nice TD nine 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 hole It's trading below the bottom that profile, which is five dollars and seventy eight cents Straighten at five seventy five, but that that level may hold may hold if price does close below that at ten o'clock Then the signal would certainly be a pullback to support now That's five thirty four. That's the TD nine count breakout area But the first level of sport goes back to the daily timeframe and that was at five dollars and sixty eight cents So that's the level that price would need to be trading below Bob to suggest that price might be targeting The TD nine count breakout level on the 240 minute timeframe chart out there So that's what I see we take a look at natural gas I'm if we look at Now there's really not much else to look at here when I say I take a look at natural gas So I I do hope that that helps you out a bomb and I thanks much for our writing in So no other questions that I see at the moment. Oh, I take that back I take that back We've got Hector and Hector wants to take like a John Deere DE is the ticker symbol out there So let's go switch over to our three time frame charts out here. Let's put in DE so we get those charts here fire it up 830 was something just released I Must have been to my computer. I hear the you can probably hear the drives firing up back there So 830 on a Friday. What is it that was released out there? Somebody the den knows So this may take just a moment here for For my charts here to populate John Deere Let me go back to my black background charts because those I should be able to To ask three time frames. Oh, there we go. We got the John Deere charts So the question from Hector it as opposed to a steam the early bird gets the worm happy fabulous Friday back at you My friend John Deere on a weekly basis Please give us the Ossetian change line and support and resistance levels. Have a great weekend. Will you too? So on a weekly basis, that's pretty easy the Ossetian change line closed yesterday at 35989 price also closed above John Deere The high from the trading session of August 26 At least yesterday the question is will it close above that at weeks end So that was high was 392 93 close of 394 59 a price closed above 392 93 well first it had volume of 9 million shares so far this week the volume on Deere has been 5.6 million shares and on a daily basis last yesterday was 2 million So you're at let's assume you're gonna do about 2 million So that puts you at about 7.6 7.6 versus 9 So you could get a a to b equal CD that wouldn't be confirmed by volume But would be confirmed by price on a move higher out there now the daily time frame shows that yesterday Was a sell the d-point pattern. What do you mean Stevie? Well first there was a TD 9 count bottom that formed on September 23rd So that becomes the starting point for a to b level the question is where do we want to draw the a to b? point to And there's a different a number of different spots that you could most certainly choose the one that really sticks out at me Would be I would draw it to where's labeled the c-point now That's part of the Chapman wave count out there and the reason is because if we use that Then we can see that there was a lower low that formed on October 13th So what I'm gonna do here is I'm just simply going to take that line that I drew I'm going to copy it I'm gonna paste it and we're gonna do is you're gonna simply move that over to then to the bottom That form that c-point what we'll see here is this generated more than a one-to-one a to b We'll see it at the upside now the way that that pattern gets confirmed This would be a topping pattern is we wait for a bearish reversal candle That's what took place yesterday a bearish shooting star now the cool thing about a bearish shooting star candle my Experiences it either works or it doesn't meaning price either closes lower trades lower which tells you it's working Which in this case here Hector and Patty price would then target its daily oscillator and change line That's the number that you want to make sure that you know about not the weekly but the daily and that would be at the 3807 area now there's also a TD 9 count top that's present the two tops Mean it's a hot better top than Then than one no not really and in order for the TD 9 count to complete what John Deere needs to do today Is close above bar number five that closes 385 89 But either way you still have a sell the d-point pattern that suggests at least a retracement Hector and that retracement should take us back To its oscillator and change line currently in the 380 ish range that number is going to change and a price We're to move below the oscillator and change line Then we'd be looking at a move back to the top of its daily profile. That's at 359 in the pre market Let me see where John Deere is a trading out here de Obviously the ticker symbol the last trade here firing off at 396 so you had 395 99 and 87 shares go off at 396 So this is suggesting that it wants to form that a to b equal CDT upside now Let's draw that pattern in here Even if it crosses that b-point and it does with lighter volume that does not mean that it cannot go on To complete that pattern so there's your a to b point I'm just going to move that over to the c-point level out here And so it closed above that high that high beam from again August 26 being 392 93 And the pre-market last trade again firing off the 396 should take us back to the highs from April the one-to-one price Projection would be in about the 436 level the resistance area is all the way back here April 22nd And that's up at the 446 76 level So that's what John Deere is doing really the course of the next couple days Remember at a TD 9 count top the high conform on bars 8 9 or the bar following 9 so John Deere may not give us that confirmed signal Until Monday so Hector and Patty. Thanks so much for taking the time to write in much appreciated Let's check see if there's any other requests out here. No other request by email And you can send me an email request if you like at Steve at tfn.com And inside that subject heading just as Robert had done Go ahead and please put that radio show question out there. All right, so we want to take a look at that next out here Let me see what's going on we switch back here see what's going on So now you got doubt equity futures up 73 and the ES and the Russell's up about five points out here So real quickly I want to go back to that 30 minute set of charts out there because that's really a set of charts Where we had the most consistent Information with regard to signals those were TD 9 count bottoms that formed at four o'clock this morning and boom Wow, so all four so whatever was released. Nobody told me I don't know what got released today. This is Not jobs Friday. That's the first Friday in any event out there. Whatever was released Obviously, it's impacted the market and right now State 37, I don't know whether it's gonna look like at nine o'clock But you do have the yes many now above Tina I count breakdown resistance at 38 oh eight will it hold that I don't know and the end cube so far It's gotten you know, it's gotten above it. It's right back below it at 11172 the Russell's still above it at 1813 50 and the Dow 32 134 so those team night out breakdown there is really helpful Again, we're in between time periods out here. What I mean is this next bar does not close till nine So what it's doing at 838 in the morning is somewhat irrelevant out there So we'll try to do what we'll try to do is come back to that as we close out the show Which is usually about two to three minutes before the hour So Steve Rhodes with TF and then you've got Dow equity futures up 85 Russell futures up six Nasdaq futures down 63 the SNP off seven when we come back for this break Let's go take a look what's going on with regard to Apple and Amazon in the pre markets 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 comm 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 and stock prices get the opening call newsletter by 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 comm educating investors Are China a shares hot or not? If you trade China a shares now may be time to take a closer look trade CHAU or CHAD Directions daily CSI 300 China a share bull and bear ETFs China a shares in either direction Visit direction investments calm today an investor should consider the investment objectives risks charges and expenses of the direction shares Carefully before investing the prospectus and summary prospectus contain this and other information about direction shares to obtain a prospectus Or summary prospectus, please contact direction shares at 866-476-7523 The prospectus or summary prospectus should be read carefully before investing an investment in the funds is subject to risk Concluding 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 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 and 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 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 program is brought to you by Vista Gold traded on the NYSE American and TSX under the symbol VGZ So was the personal consumption expenditures Thank You JB for letting me know what was released at 8 30 this morning And obviously that had a little bit of an impact on the futures market out there We'll see if that sticks. So the next question. We're gonna go take like what's going on the pre-market with regard to With regard to Apple Amazon and Intel so right now in the upper left or on the very right-hand panel here You can see the trades that are being fired off for all three instruments atop is Apple last trade fired off of 145 23 The case of Amazon. It's 95 70 or so in the case of Intel. It's 2790 So you can see what's going on live now. Let's go over take a look at the charts So if we take a look at the chart here for Apple, we'll see that it formed a new daily profile yesterday A new profile has supported 141 80 That's the price that Apple would need to close below to suggest that there's Problems in River City. Well in the pre-market is trading at 145 30 that's actually a bit. This is a bullet structure profile That's above the center of that bullet structure profile So really not a ton of damage out there not considering closed at 144 97 is trained at 145 30 So it doesn't look like Apple is gonna go ahead and pull the markets to the downside at least not the pre-market as of 843 Different story here for Amazon the B point This is a weekly chart that I have up on my screen by the way the B point of an A to B equal CD to the downside for Amazon Again, don't know what whether we'll have the volume or not would be closing below 101 26 then we're trading 95 and change right now So Amazon may generate a weekly a to B equal CD pattern to the downside whether that's the volume or not That I don't know it doesn't matter the close below 101 26 again It's a weekly chart that we're looking at suggest much lower price for Amazon Intel formed a new daily profile yesterday. It's level of support is 2577 more important It's level of resistance is 2757 you're trading at 2786 as we speak right now That is above profile resistance where it will close or where trades during the day. I'm uncertain But right now price is above the top of that profile that suggests that Intel is in breakout mode So that's what's going on. So, you know, if they are the markets really gonna head lower with Apple not busting through any key levels of support and actually trading above yesterday's close out there Yeah, I think not but still the day is young and we haven't even started the cash market yet So watch the support level inside of Apple that would be at the one to forty one eighty area out there We've got a request to take a look at LNG That is for SNP inside the Tigers then SNP. Thanks so much for that request. Let's uh, I think we're in the black Oh my god, we are not on those charts She's Louise Stevie Stevie Stevie talk about a brain fart. Well, we're gonna do this here now You take a look at the charts To go along with that whole dissertation, of course, maybe nobody really cared You know, but here here you've got it You can see the new profile that in fact did form yesterday inside of Apple support at one forty one eighty Resistance one fifty one thirty in the case of Amazon. You see the weekly chart with the A to B equal CD You're gonna close below one oh one twenty six We're trading below that right now is gonna suggest a potential A to B equal CD to the downside and Intel that new profile Resistance at twenty seven fifty seven last trade a hundred instruments are trading off at twenty seven ninety seven out there so sorry about that and having us on the wrong page for charts out there, but It is what it is, but we did correct it So let's take a look at the three timeframes out here for shinier energy now shinier energy in the pre-market LNG Let's go see what it's trading at LNG LNG tradeout one seventy five eighty six so one seventy five eighty six Will take us above what? So the high on a weekly basis is the high From the trading week of October the tenth out there. That's a one seventy eight fifty nine So it's not above that I think S&P you were referring to potential A to B equal CD to the upside or something On a weekly basis. I think that's maybe what I saw what we've got inside of shinier energy though Is we did have or did have a consolidation pattern on a weekly basis? And that's that first yellow rectangle the lower yellow rectangle box once you find a consolidation They're pretty easy to spot out there What you want to do is you want to measure the top and the bottom that consolidation Why because when you get a breakout to either side either to the upside or to the downside What it does it provides us what's referred to as a measured move equal to or greater than that consolidation So right now what we can see on a weekly basis is that Shinier energy last week closed above the top of its weekly profile a close above one seventy two twenty five today S&P is going to suggest at least a run to the top of that consolidation. That's in the 180 area I am not saying that that is where price will stop If we were trying to draw in an A to B equal CD pattern on the monthly time frame We'd be pretty hard-pressed to do that We wouldn't be that hard-pressed But if we do draw that in and I don't believe my lying eyes out there, so to speak It would look something like this and here's the monthly because we don't have any of the noise out there the eight point That's a simple thing. That's low from March of 2020, but the B point would probably be The high from May May 1st and then the C point is the following week's low the week or the following months So we're on a monthly chart of June out there and so that B point And the retracement was 24 say I wouldn't even draw that it's a 24 percent retracement So Stevie's saying no you need at least a 0.382 retracement to really get an A to B equal CD pattern So not getting a big signal here on the a monthly time frame the daily time frame Let me open this up here. So the daily chart has a swing point high that swing point high 178.59 the volume there was 3.7 million shares So 378.59 where was it traded in the pre-market 370 378 175 86 was I looking at Okay, sorry. I was I I don't know what I was looking at 178.59 not 378 178.59 So priced out above that level out there. Let's just look at the white time frame charts here Sorry for all that bloviating, but Bloviating it is let's take a look at these white background charts on the white background charts No daily signal of any kind of a top out there other than The existing rogement and indicator top that had completed on September the 15th And that sets up that resistance level at that 178.62 area weekly chart nothing bearish Well, there's a td9 count top. I take that back so closing above that on a weekly basis That would be at 178.62 now that would be a positive That would definitely be a positive you would negate that signal the td9 count top You would negate a rogement indicator top and on the monthly time frame chart out here smp What we can see is no topping signal whatsoever Price above its profiles price above its green offset on change line No topping signal that we see so lng should continue to head higher But right now what you know is your battleground. It's pretty simple 178.62 We get a close above 178.62 and this continues to be off to the races. So hope that helps you out Thank you so much for the request out there a quick peek at the What's going on the pre-market back to a negative in the equity futures now is now off 26 points Nasdaq's down 121 s and p's off 22 and the Russell is basically flat out there gold is off 20 bucks right now So how about when we get back to this break and to close out the show We go take a look at goldy locks get a feel for what it's doing at least it has been consolidating with insider's daily profile We'll see if there's any intraday signals out here as Steve roge with tf and n we'll be right 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 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 published a gold report with coverage of gold silver bonds the xiu hui gdx as well as more than 30 different mining equities To seep yourself the types of profitable trades that are recommended within the gold report sign up now by visiting tf and n Dot com don't miss out on the next great gold trade sign up today Everything in the universe is governed by the fibonacci sequence This mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market To stay on top of stock patterns You can take advantage of sign up for the fibonacci 24 7 newsletter at tf and n dot com When you subscribe you'll get a weekly report from veteran day trader larry pesavento on stocks You need to pay attention to and you can trust larry's analysis after all He's got 45 years experience as a day trader larry will also provide daily charts videos And data on the key markets that he's tracking expect notifications from larry on market movement You need to act on at any time 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 Subscribe to the fibonacci 24 7 newsletter today tf and n dot com educating investors Are you looking for a way to consistently add winning trades to your portfolio? 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That's tf and n dot com and hit watch tiger tv Welcome back folks so that personal consumption expenditure information as i said gold just a little bit lower It's off 18 bucks silvers down 30 cents. They're off a little over 1 percent in the case of gold Right now it's just testing it still continues to consolidate with insider's daily profile. That's between 1641 40 That's at the bottom that support 1682 20 1682 10 That becomes the resistance level if price does close below 1641 40 It'll take a run for the lows from october 21st out there Where it has a td9 count and rogement to middicator bottom. That's at the 16 21 level five hour time frame chart Price has pulled back the test its profile support area out there I don't have any kind of bottoming signals out here a potential on the 60 minute chart But we're too far away to know whether that is going to unfold from a time standpoint So nothing else out here to assist us other than those weekly and the daily and the five hour time frame Uh, uh levels of support. Let's take a quick peek at the silver out here See if anything pops up at us out here on silver It's going to take a moment to populate the chart silver is trading out at 19 dollars and 16 cents Silver does have we talked about this earlier silver does have weekly profile support, which will not show up here The weekly profile support for silver is down at 18 48 and 1823 is the bottom of its daily profile. We can see that right now now prices Got this barest structured daily profile price closed above it for three consecutive sessions So if the move lower here in silver is just a little counter trend move Well, then price should find support at 1892 though so far of the day Inside of silver has been 1898 if price closed below 1892 then that would tell us just like gold is done Which is pulled back or is pulling back to test the bottom of its daily profile area Then that silver would signal to us and move down to the 1823 But right now all that silver is done is pull back and test its support With regard to bottom signals out here the 30 minute chart shows a erosement to indicator bottom If in three minutes, uh, we get at least one tick to the upside that'll confirm erosement to indicator bottom The same is true on a 15 minute chart out there, but other than that, I don't see any kind of bottom Folks, thanks much for joining me on early on fantastic friday. I want you to have a fantastic and fabulous weekend The more important stay tuned all day here at tfnn up next tommy o brian with the morning market kickoff Have a fabulous weekend. We'll see you on monday 11 o'clock sharp. Take care folks