 The following is a presentation of TFNN The Trader's Edge with Steve Rhodes 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 22nd, the terrific Tuesday 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. I'll prove it out there. It's happening. Great day. Hey, let's have an extraordinary one. Yep, let's have an extraordinary day and the easiest way to do that is to always remember that everything in 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 the 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're going to go figure out what those bulls and bears, what those buyers and sellers are communicating to you and I just passed one o'clock in the afternoon. I want you to know that I'm absolutely grateful for your presence here, but much more important than that. During this next 60 minutes, I'm here to serve you. So feel free to pick up that phone. You can dial on in at 877-927-6648. If you can't dial in, we've got you covered there, too. You can send me an email, Steve, at tfn.com inside the subject heading. If you'd be kind enough to put radio show question, of course, in our Tigers Denwell, any ping we'll do. So let's go ahead and get this show started on terrific Tuesday. Of course, this is Tiger, Financial News Network. I'm Steve Rhodes. Welcome to the Lush Show right now. We have a mixed market out here, mixed by the way. You've got the Dow up 78 points, a quarter of a percent, not a big deal. S&P's up about two tenths of a percent, five points. The Nasdaq 100 down two tenths of a percent or 16 points. Russell's up four. Semi-Zera five. Spot Volatilix is down 21 pennies trading out at 13.79. Well below the 50-day exponential moving average out there. Gold's down 60 cents over 11 pennies. Light Sweet Crude is up 77 cents. Natural gas up nearly four pennies. You've got the 30-year T-bond up five ticks. Lead the charge dollar-wise to the upside biogen. It's up 28 percent. 63-buck runes. That is a heck of a move out there. Sherwin-Williams up 23 bucks or 4 percent and change. Stamps.com up 23 percent. 17 bucks. Wellcare. Health plans up nearly 4 percent, a little over 10 bucks. Howard Hughes Corp. down 21 dollars. Nearly 16 percent. Hasbro up 18 or 15 percent. Intuitive Surgical down 17. Shopify 15. Chipotle off about 15. Amazon down 14. So certainly plenty to look at. But we're going to begin looking at the request. Coming in from you. The first request coming in from Brent. Brent would like us to go take a look at oil, natural gas, and silica holdings out there. So what do we start? Let's start with... Let's start with silica holdings. And the question was, you may remember last week we were taking a look at this instrument out here. And one of Brent's questions was, what's the count to the downside on a daily basis? Was there a TD set up nine count pattern? And the answer is there was, but there isn't now. And the reason is because yesterday we saw a lower low. In order for this pattern, for me to identify a bottom, low needs to take place on bars eight, nine, or the bar following nine. That doesn't mean that there's not a bottom. It just means that this pattern itself has not identified the bottom. You'll see that today bullish engulfing candle engulfing the last two days. Sessions easy to engulf. Yesterday's doji candle, but it also is engulfing Friday's session out there. So what does that tell us? That says, you know what? Let's go back to the daily timeframe chart. Let's go take a look at the A to B equal CD patterns. There are several out here, but here's the one that just sticks out. Here's the easy one, the easy PZ one. That's with the A point on July 31st. Your B point down here on September the 5th. Your retracement or C point up here on September 16th. The one-to-one price projection, 698. The low yesterday was 690. So now you've got a confirmed buy the D point out here. So if you're looking to get into silk holdings, the daily chart has generated the buy the D point pattern out here. But do you buy it right now? Because prices trade at 741. The high so far today is 759 and the bottom of the daily box is 762. At this stage here, the bottom of that box may very well be resistance. In fact, because this is a bullish structured box out here, with the center closer to the bottom than it is to the top, the center being at 791. Brent, it's very possible that 791 would be the end of a countertrend rally if that's it. So you do have a valid signal. I can absolutely support going ahead and taking a stab at this, so to speak. It's slightly dangerous that prices not being able to get above that resistance. You'd ideally like to see it get back inside the box, but really quite frankly above 791. But nonetheless, you do have a bottoming pattern that is taking place as we speak right now. And I don't know what today's candle is going to end up looking like, but as a 1-11 in the afternoon, you have a valid bottoming signal. Now the weekly chart may also generate a bottoming signal. Roads momentum indicator pattern. We don't have a bullish reversal candle yet, but assuming that this continues to move higher, then you could easily get a bullish engulfing candle on a weekly chart. And if price could close above 814, that would be a nice positive out here for the weekly timeframe. So the weekly shows promise. It's got that rubber band, roads, momentum indicator bottom, no confirmation. Daily's generated the confirmation. And on the monthly chart out here, price moving lower, doing less relative energy, no confirmation at this stage from a monthly standpoint. So there's your silica holdings. As far as natural gas is concerned, if we take a look at it, here's four different timeframes, 30, 120, 5-hour, 300 minutes, and the daily. So here's what we know about yesterday's price action in natural gas. First, well, natural gas actually also had a buy the D point. So we'll take a look at that. But yesterday, when we take a look at price action, price got down to almost to the bottom of its box or support. And that's the level of 2.208. It actually got down to 2.213. Price is trading inside the box. It's consolidating out here. So what's the meaning out here for natural gas? Well, if we take a look at natural gas, not only is it trading with inside the box, right now it has rejected Stevie's red line out there. That's the oscillator and change line. Not a good thing. Here you can see the buy the D point of its A to B equals CD. That was your Gartley buy pattern. It took place when you had that key reversal and bull sash candle back in the early part of October. Of course, since then we've just seen a sideways move out here. So is this bullish? It's got a bullish pattern with support having been tested a couple of different times now. But we haven't seen a breakout. A breakout at this stage here would be a close above $2.33. So you've got a valid bottom. You've got support that is held on the daily timeframe. And I don't have a really great clue as to what its next move might be. A close above two days with a close above 2.33 would go a long way to saying that that Gartley buy was in fact a valid bottom out there. You want to take a look at Lightsweed Crude as well as we go take a look at the December contract for Lightsweed Crude. Here's our daily profiles. Let's go ahead and get those up on our screen. You can see a series of higher lows out here inside of Lightsweed Crude. It's really suggesting to you and I that price is on its way up to at least 56.65 out there. It's a bullish structured profile, 51.47 being the bottom or support, 52.62 also being an area of support out here, resistance at 56.65. Price is trading above Stevie's green line. It looks like the upward price projection between 56.65 and 59.39 where price most recently broke down. There's your Lightsweed Crude. There's your natural gas and silica holdings. Steve Rhodes with TFNM. We'll be right back. If you're not currently using the Taz Profile Scanner when looking at setting up your trading opportunities, then your arsenal is short a mighty weapon. The Taz Profile Scanner is a standalone piece of software that instantly filters over 2,500 global financial markets such as stocks, ETFs, commodity futures, and forex. Heated by Steve Dahl, Taz understands that in today's technological world, the use of top flight software applications and technical analysis expertise is essential to successful trading in today's market. You also gain access to the webinar that Steve Dahl and Tom O'Brien just hosted, the best way to use the Taz Profile Scanner to profit. This webinar archive is available for all subscribers immediately upon signing up. All new subscriptions also come with a 30-day money-back guarantee so you have nothing to risk. Start your subscription by visiting the front page of TFNM.com today and you'll find the Taz Profile Scanner under the Services tab. Sign up today. Real Estate LLC is a firm that has extensive experience in the Tampa Bay area. 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Hear all of the TFNN shows, plus see all of the charts as they happen live and have access to archives of all of those charts. You can test drive the Tiger's Den absolutely free for 30 days and greatly enrich your knowledge of these markets and how to make your money work for you. Details on the Tiger's Den are on the front page of TFNN.com. TFNN has launched our brand new website. You can still visit us at the same TFNN.com URL, but when you do, you'll see a new and improved home page with a much simpler navigation, whether you're watching Tiger TV live in high definition or just accessing your newsletter subscriptions. We even have new pricing in six months and yearly options. Check out the new TFNN.com now and experience all the upgrades. TFNN.com, educating investors. Call now. Toll free at 1-877-927-6648 internationally at 727-873-7618. Welcome back, folks. That was up 87SAT 5. Let's go out to Philadelphia and speak with John. John, thanks for calling. How are you today? See, well, I'm... Yes? ...and I speculate both are bottoming largely a dollar decline play. Okay. So if you could tell me what you see, I'd appreciate it. Sure. So the EWZ, if we just follow the basic rules of what happens when price passes a B point of a potential A to B equals CD. And that's a daily chart that we're looking at. The B point that I'm looking at here, John, is September the 12th. That did volume of 16.3 million shares. The high was 43.25. We're trading above that today. You had a nice gap to the upside. You've got some volume behind it, already more volume than the 16 million. You're at 19 million out here. So you've got a bullish candle today. This suggests that EWZ is on its way to at least 45.22. That would be the 1 to 1 A to B equals CD to the upside. So that's what the daily timeframe chart is showing us. If we take a look at Stevie's other set of tools, maybe you're in wave number four today. More likely you are in... Well, you're in wave number four, no matter how we go ahead and slice that. This says I would watch 46.31. What happens to price? As it gets up to that level, that is where the EWZ most recently broke down for its daily timeframe out here. If I look at the weekly timeframe, weekly timeframe price above Stevie's green line, we can see that price had pulled back and tested its breakout level 39.55. We looked at a breakdown level on the daily chart at own hand. Well, I do have a breakdown level here. If we just pull it back and see where EWZ on a weekly basis found resistance, it was at its prior breakdown level of 46.52. So that seems to be the range right now from a weekly perspective, support at 39.55, resistance at 46.52. Not right to the penny folks, but you can look at those charts and see support and resistance on a monthly timeframe for EWZ. I don't have anything bearish here. Only bullish signals suggest around 54.56. So that's what I see when I take a look at those charts. Before we switch over to the Euro, what questions may have come up since I took a look at the daily, weekly and monthly for you, or are you seeing something different? Okay. And me, I'm just long from last week down at 42. So I think I'll just hang with that and see if we can ride it on up higher. Oh, cool. Great, great. It looks good price above the resistance. You answered me on an important bottom and I'm wondering if you can share with us. That's okay. I mean, the non QE, QE? It is not QE. It's right. That's right. Okay. So if we just take a look at the Euro US dollar and go to its longer term perspective, here's what we see right now. So I don't have a bottoming signal per se on the monthly timeframe. That doesn't mean that it didn't bottom. It's in wave number five letter E to the downside. No TD set up nine count. This counter trend rally. So if it's just a counter trend rally, then the monthly chart is saying right about now is where it should stop. That would be the oscillator and change line. It's red. We can see that for the last year or plus that level has been tested several times on a monthly basis. We've seen closes back below that area and that price point would happen to the data box. I guess I must have gotten rid of it. I want to give you the actual number. Let me get my crosshair out here. So the level to be watching is 1.1164. Give or take out there. If there were close above that on a monthly basis, this would say price could run up to the 1.208. But right now resistance is held in my call here for the Euro on a monthly chart until that resistance level fails would be 104.95 before we would see the bottom and that is the breakout level inside the Euro. So that's what the monthly suggests to me at this moment. The monthly with regard to profiles, it's also running right into the bottom of the monthly box. That bottom is 1.115. So there's another level where if price can get above it would perhaps say that there's a change in trend even without a bottom signal or pattern, I should say. If I look at a weekly timeframe chart for the Euro, geez, what can I come up with here? As we take a look at wave cones to the downside, that didn't generate it. So I'll be using this one next here. Give me a second here. So on a weekly basis, I would have a couple of weeks ago at wave number six or letter F out there. I don't really have any other bottoming signal that I can see price above Stevie's red line. 1.144 is a possibility to the upside. The weekly chart shows that price is inside its profile. That's the upper right-hand chart out here, John. And this would say that price could make its way up to 1.1290. The box looks somewhat equally balanced. So let's not spend a whole lot of time there. The bottom of the profile, that's what you'd be looking for, would be 1.1137. A closed back below that would say resistance held. I'd like to see follow-through, which would mean two candles closing above a resistance level. So you have to come back and take a look at this at the end of Friday. The daily timeframe chart for the Euro shows that it has now completed a TD setup nine count. What this also suggests to us, John, is that a couple of days ago, my oscillator and change line went from red to green. That tells us that the price oscillator, the difference between the 19 and 39-day exponential moving average was at zero. The phenomena that typically is associated with that pattern is we see that line and price catch up to each other. Now, John, it doesn't tell me whether the lines, whether price going to move sideways and line continues to move higher, or it's a combination of price pulling back or just price pulling back, period. But it does suggest that the Euro is signaling to us that it will pull back. That may be your next buying opportunity. If price can pull back and test TV's green line, right now priced at 1.105 and hold, then that would say a key level of support and you'd have a rising price oscillator on the daily timeframe with real resistance, or the next level up being 1.139. John, can you hold on through this break and then I can answer any other questions you've got? Thanks so much, Steve. You bet. We'll be right back, folks. I'm certain you are or strive to be one of the best of the best at everything you do in life. It's the most common trait that we tigers and tigers share. If you're looking to become the best of the best when it comes to managing your money, let me teach you to do what most wealth managers tell you can't be done, which is how to time the markets. 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For more information, just click the Think or Swim banner on the front page of TFNN.com. Welcome back, folks. We're taking a look at the euro before I went to the breakout there. John, just before I go back to you, here's the U.S. dollar... Here's the daily chart for the U.S. dollar index. Unfortunately, I don't have the December contract up on my white background chart, so we've got the continuous, but I don't think the pattern is any different from the pattern being that price pushes its way back to breakout support. $96.98. Its oscillator and change line also changed from, in this case, here, green to red. This suggests to us, since support is held, and you've got an active TD set up nine-count pattern. We won't have confirmation of that today until we see the close, but this is suggesting a rendezvous between price and the U.S. dollar in the $97.79 area. So you're looking for the U.S. dollar. If I heard you correctly, you're looking for it to continue to move lower. You certainly want to see it close below $96.98 out there, but it looks like a counter-trend rally first before that happens, but I don't have a completed pattern here just yet. I need today's candle to form before we can say support is held, breakout support, but I don't have that TD set up nine-count. Okay, so now back to you and back to the Euro, U.S. dollar. Consider one topic today, but maybe in the coming days, if any thoughts occurred to you on the question of that front previous to that. Yes. My question to you is it's a request, not a question. My request of you is to give consideration to this question might the reserve be on the cusp ETFs from the idea of being vis-a-vis debt to get things back into better balance. I'm thinking or it's a subject I'm thinking about, and I'd love to hear any thoughts that occurred to you on that subject. Okay, okay, great. I'll absolutely do that. It probably would be more like tomorrow based on the number of questions that have come in by email out here, plus it'd give me a little bit of time to put some thoughts together on that, but a real valid question. John, always good to hear your voice. Thanks for calling in, so Michael W wants to take a look at Occidental Petroleum. The ticker symbol out there is OXY. So let's go take a look at that for Michael, and so let me see what his question is. Can you please look at Occidental Petroleum? Okay, we got that, and can you review the TD counts out here, Mike in Harrisburg, Virginia. So as we take a look at heck of a nice bar today. So Occidental Petroleum closing above, I can't say closing, trading all that formed yesterday. That suggests a potential change in trend out here. About 5.3 million shares behind that move. Prices below the weekly and the monthly profiles out there, but those are not going to generate the early turn signal. So your question was on Occidental Petroleum, what's the patterns that are out here? There was a TD9 count from a couple days ago. It wasn't the type that I would use to identify a bottom. Instead, you had a couple days prior to that. What I mean is on the trading session of October 14th, prices moving lower, doing less route of energy the very following day, a nice piercing candle out there. That's your bullish reversal signal to confirm a roads momentum indicator bottom. Now today, if we get a close above the 41-43 level out there, that suggests a change in trend. The real area to be watching out here, Michael is 42-37. See, this did a TD set up 9 count. What it really did for us or for you or for traders out there was it set up that resistance area. John and I were looking at some resistance areas. We always look at resistance if it's available to us and that's 42-30. It's trading at 42-40. A close above 42-30 today. Additional follow-through tomorrow, meaning it just stays above that level suggests that Occidental Petroleum wants to move higher or has formed a bottom out here on the weekly timeframe chart. We can see price also moving lower, doing less route of energy. You don't have to worry about the TD set up 9 counts out here. That was price moving lower, doing less route of energy. I think I said that the roads momentum indicator on a weekly basis out here. If this is formed a nice bottom on a weekly basis over time, price should move all the way up to resistance at 68-83. And with the weekly chart unfortunately, it's Tuesday. We don't know what the candle will look like on Friday. But at 1.36 in the afternoon, you've got a bottom signal there too. The monthly timeframe I don't have a pattern just yet. Let's look at a couple different wave counts out here. See if we can get to a letter, what letter can we get to. You're in wave number 5 to the downside. So we've got to go with the daily and the weekly out here. Michael, and I don't know what you're doing if you're in it. You're looking to get in it. But you like to see today and tomorrow finish above what was it, 42-30? Something like that, I believe. That would say that oxygen petroleum has bottomed OXY out there. So thanks for writing in. I hope that that helps you out with regard to that. We've got a question here from SAFTP and wants to take a look at, I would like to buy a few shares in SMAR. SMAR is a ticker symbol out there. Let's go see what SMAR is doing when we take a look at the charts. Well, it'd be helpful if I actually, I got you, I hear you. Type in the right symbol is what my other system was saying. So here's what we know with regard to SMART Sheet Inc. Price is perhaps trading into support. Not perhaps it is. That's the bottom of its weekly profile. That's the only profile that price is trading above as far as the bottom of its box out there. And so that level is 36-53. Let's go take a look at a daily time frame chart. See if we've got any type of patterns out here that you could trade off of. So it makes his little TD9 count to the upside, makes a road momentum indicator count to the downside. Price gets right up to resistance. $40.99 is pulling back. So if you want to buy this thing, then buy it at $35.31. Price below Stevie's red line right now. $37.34. That's your breakout area. Let's go take a look at some volumes out there. If price is pulling back into that with volume of less than 6.8 million shares, then you might have something there. Will price get all the way back there and pierce the bottom of that weekly profile again at 36-53? I don't know the answer to that. Volume a couple of days ago as it was pushing lower was pretty, you know, it was accelerating and still lighter than 6.8. I'd wait to be patient. I'd be patient out there on SMAR based upon the daily time frame chart. You know, and price on a weekly is trading below weekly breakout support at $37.67. Be very careful. Wait for price to pull back to at least that breakout area before you buy a few shares. I hope that helps you out. We'll be right back. If you're in the CD market and looking for a secure investment, the Tiger First Mortgage Program may work for you. The security for these first mortgages are building lots in the tax opportunity zone in St. Petersburg, Florida. The Tax Act of 2018 set up tax-free zones across the country where you can build and hold for 10 years and pay no tax on the profits, which makes these lots valuable. The investment is anywhere from 30,000 to 75,000. The interest paid is 7% yearly paid on a monthly basis. According to bankrate.com, the best rate for a four-year CD in the country as of February 20th is 3.1%. A $50,000 investment at a normal four-year CD rate of 3.1% would give you income of $1,550 per year or $6,200 over the four-year period. 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The funds are designed to be utilized only by sophisticated investors such as traders and active investors. Distributor Four Side Fund Services, LLC. Don't forget, you can listen to TFNN live on your mobile device 24 hours per day. Go to TFNN dot com. Then hit Watch Tiger TV. That's TFNN dot com. Then hit Watch Tiger TV for the latest market information. Folks, let me just finish typing this in here. Well, I just asked a question, John. If you're listening here, going back to when in Japan the other central bank made the announcement that it did wasn't it the but it was with the pension fund monies that they were making those investments right? They were moving out of debt and moving those things into equity instruments out there. That's my recollection. I'm going to have to go back and obviously look at that. You know, if that's what was going on, you know, smartest decision possibly made out there and I could only wish that the same thing would be done here in our country with regard to the Social Security Fund because it's a joke. It's an absolute joke as to what our government does with regard to, you know, they talk about to hear all the politicians talk about wealth inequality out there, right? I know this is going to get people some people on both sides of the aisle. I just want you to be open minded out here because let's just say that you were in charge of your own retirement plan, which most of you are out there and how many of you are going to put 100% of those funds into debt into debt paying the type of interest rates that they are now? If you were you would at least put it into marketable debt. Our Social Security Funds are not even in marketable debt not even marketable debt 100% out there or in Buffett even Jimmy Buffett would never do that. So why are we doing that with the that's the only way that you solve the so-called wealth inequality issue out there but any event. So I threw out that just John just trying to remember if it was what your band was doing was they were also was their retirement funds their pension funds that where they were getting involved because they knew they had a pension crisis out there and so that is the way you solve that problem out here we're not doing anything out there you can rob Peter to pay Paul it's never going to solve the wealth inequality if you want to call it that issue out here the only way you because you can give I guarantee it we can do this we can we can go out there and give our money to folks that need it let's say more than we do supposedly or don't have enough you know built up out there and if you give them a thousand I give them a thousand the guy on the corner you know that's holding up the sign what do you think they're going to do with that thousand dollars are going to invest it for their future yet not a chance out there well let alone money is being taken out of all their paychecks assuming they're not paying cash out there and so the only way for them to get well there's only real three ways to get wealthy out there right you do it by either being an entrepreneur and starting a business which anybody can do at any point in time out there so you've got that of course you want to tax the the bejewels out of anyone you know for for that effort but that's one way that's how that's how you know we take a look around us the folks that have accumulated wealth another is in real estate out there and then your third way is going to be in the markets out here the markets that you and I trade those are the three ways yes you can you can inherit it you can marry into we're just talking about the three normal ways that people would generate wealth out there and so yeah that's that Stevie's absolute solution out there and it's a travesty that we have people that talk about watch these people on all these shows out here CNBC all of them Bloomberg and the whole nine yards and then nobody talks about the simple solution that's out there Robin Peter to pay Paul Robin the Rob that's that's a that's a myth out there and then even let's go to James's question out here James writes in and said hey Steve is today's action Disney enough of a sign of strength to be a buy so as we take a look at Disney out here James the not really a sign of strength so to speak as far as candle formation you know prices trading above the October 17 tie that had 8 million shares you're about 6.5 right now not really a sign of strength so to speak but prices above resistance that being the top of its daily box out there 131 66 prices trading with inside a bullish structured weekly profile the bottom of which was 128 the center was at 131 we're at 133 so as long as price is above 131 138 is the likely price target and I know a larger term scale monthly scale out here prices above the weekly profile so actually looks pretty good if we take a look at the weekly time frame this is what it's dealing with you can see the roads momentum indicator topping signal prices moving higher no less relative energy in a couple months ago you got the bearish engulfing candle now whenever you get a top topping pattern bottoming pattern topping pattern says the first thing that should take place is price should go test support so you've got to be able to find support if you're buying the bottom the first thing that should take place is test should go up and test resistance out there right we kind of looked at that with with a couple different instruments natural gas was was one of those here we can see that on a monthly basis what Disney did last month was it got down and tested support the first level of support or a level of support is going to be steve's green line or red line this case here it's a green line prices trading above that so at this stage is nothing broken inside of Disney now if price were to close below steve's green line on a monthly basis a monthly time frame seventy eight dollars would be its target that's one thirty two oh six we're not there yet at this stage support is held support is held price above the daily prices above the weekly profile out there it suggests to me james that price is going to move higher whether it's the sign of strength out there I don't see it as a sign of strength do I see a bottoming pattern out here I don't the daily says price should target one thirty seven thirty six that's where price broke down on a daily basis inside of Disney so that's what I see when I take a look at the charts and absolutely hope that that helps you with your decision making out there okay so I don't see any other questions I don't see anything in the dead although Peter made a comment about the thirty minute chart for I would believe it's the ES mini so speaking of the ES mini let's go take a look at it you've got the ES mini maybe gunning you mentioned a downtrend line so I do have I don't know if it's the same when you're looking at but here if we take a look at a little downtrend line inside the ES mini we're just connecting the highs from the trading day of July twenty six and then that takes into the high of September thirteen then you can see the high of September nineteen that's likely where price is headed in the ES mini with it being above the top of its box today that's around thirty twenty one thirty twenty somewhere in that range out there so the ES mini looks like it's poised to do that the NQ is done now when I say it's done I don't really mean it's done done it's completed its task it did it earlier this one is price got up to resistance now isn't seventy nine ninety four the actual high today is seventy nine eighty eight so hey missed it by four bucks out there that basically is close enough for my game and your game it's a bare structured profile but price is still above the center line of that box is seventy nine twelve so it's not as if we've gotten a real sell signal from a profile perspective out here we do take a look at the NQ what we can see is this formed in A to B equal CD pattern to the upside the one one point two seven two is a sell the D point out here but price again makes a topping pattern price still has not broken through DB's level of support being its green line that is seventy eight seventy seven if price were to close below seventy eight seventy seven we should see price run all the way back down to the bottom of that new profile at seventy seven forty seven and then below that we'd be looking at seventy five sixty eight out here that's what I've got when oh you said the ES mini thirty minute here's our thirty minute chart out here I don't really have any patterns resistance being broken anything like that Steve Rhodes with TFNN we'll be right back since nineteen eighty four Basil Chapman has been using the Chapman Wave methodology to advise traders of his expert market opinion while originally hand drawing charts from the late nineteen seventies into the eighties Basil noticed that prices under most circumstances virtually always had a certain number of legs to the upside before declining sharply later Basil found that computer software which included the standard market technical indicators enhanced the degree of accuracy in calling price turns as well as market trend calls thus was born the Chapman Wave sequence using the Chapman Wave methodology along with other indicators Basil Chapman advises his subscribers of his expert market opinion each market day with his opening call newsletter right now you can get a two week free trial to the opening call Basil's daily trading newsletter by visiting the front page of TFNN.com cancel at any time during that trial and pay absolutely nothing get your two week free trial to Basil's newsletter the opening call today by visiting TFNN.com if you're a trader in the market looking for exposure to gold or gold mining equities then now is a perfect time to sign up for Tom O'Brien's gold report the summer is over gold is trading back above $1,500 and the 10-year treasury is hovering at around 1.5% Tom O'Brien has been writing his weekly gold report for almost 18 years there's no one that knows more about how the gold market trades and how gold mining equities react new subscribers get a 30-day money back guarantee so you have nothing to lose every Monday morning Tom publishes his weekly gold report with coverage of gold silver bonds the XAU HUI the dollar as well as more than 30 different mining equities as of September 3rd gold report subscribers have five active open positions with an average unrealized profit of almost 38% for each position to see for yourself the types of profitable trades that are recommended within the gold report sign up today by visiting TFNN.com our hunter and gatherer ancestors found all their nutritional requirements for health in their wild environment but today our food sources no longer contain the vitamins minerals and nutrients our bodies need to stay healthy and strong that's why we need primal edge daily nutrition it includes a special blend of ionic soil based vitamins minerals fatty and amino acids in an easy to use liquid form primal edge is powered by highly concentrated folic and humic acids nature's preferred delivery system they've been called miracle because like sunlight air and water life cannot exist without them that's right Paige they ensure we receive all the nutrition we need to be healthy and thrive we take it every morning primal edge formulated and approved by Niko and Paige of living a primal lifestyle buy it today for just $89 click on the primal edge banner on the front page of TFNN.com this is David White stay tuned because coming up next is the power trading right here on TFNN. Round the shanty and put a good buzz on anybody know who sang that song? Max Musso wants to go take a look at Aurora cannabis that was my segue into that one of my favorite tunes out there have not heard that in a long time let's go take a look at the one we can what can we see ACB by the way is a ticker symbol for Aurora Borealis Aurora cannabis out here we can see that prices trading with inside its daily profile the bottom out there is 350 to you want to see that level hold that support doesn't mean that there's a bottom in prices below the weekly set of profiles and trading below the top of the monthly profile suggesting to move back to about 267 where we can see on a monthly based right hand panel chart which is really where price broke out that big wide ranging bar is there any kind of bottoming patterns out there you're looking to buy it so we can make the case that this generated a road momentum indicator bottom on October 16 that little bull sash candle price move lower doing less relative energy out here because this thing has had such a move lower continuous move lower when I put up the weekly chart you'll see what I mean out here I'd really want to see this prove itself to us before you put your money at risk here max and that would mean a close above 402 the top of the daily profile out there the reason that we say it'll be cautious even though the daily gave us a nice gave us a buy signal out here we don't have that yet in the weekly time frame now this could be or maybe week number eight of a TD set up nine count but look at on a weekly basis all of the nine counts none of which have held that's different than prior where we had a nine count high and a nine count bottom back in October and December of last year out here so when we see this it just tells us about strong momentum and this strong momentum suggests that what Aurora cannabis is likely doing is headed to twenty nine its next level of support from a weekly standpoint out there the monthly time frame just not enough data to really help us out here max but I say I say keep your hands in your pockets out there don't get the munchies just yet for Aurora cannabis folks thanks much for being here stay tuned two great hours following David White and then Tom O'Brien and I'll be back with you on wonderful Wednesday take care