 The following is a presentation of TFNN The Traders Edge with Steve Rhodes 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 July July the April 18th edition of today's Traders Edge show I'm your host DB 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 Hey, let's make sure we have an extraordinary one and the easiest way to do that So always remember that life is happening for us not to us That's right when you and I can make that one little two-by-four shift 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 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 am absolutely grateful for your presence here But even more important than that and that's this during this next 15 15 53 minutes Well, could be 15, but let's make it 53 minutes. I'm here to serve you So feel free to pick up that phone would love to hear from you eight seven seven nine two seven six six four You've got a question But you can't call in send me an email send that off to Steve at tfnn.com inside the subjectating Please put radio show question. Of course if you're inside our Tigers then well than any in every ping will 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 show. We got a mix bag out there The mix is coming from the semis which are up about six tenths were sent or 17 points the other agencies Trading to the downside does up 139 S&P seven or six Nasdaq 103 rustles down eight golds up 14 silver's up 23 cents like to recruit up 32 pennies Natural gas up four cents 30 Treasury print out 130 oh seven Lead the charge Dollar wise to the upside you've got madrigal pharmaceuticals 20 bucks nearly 8% Microstrategy 16 bucks about 5% Lockheed Martin 14 bucks 3% NVIDIA 9 bucks 3% as mill holding 7 bucks 1% out there To the downside you've got regenerant pharmaceuticals. That's off 11 bucks. Avis budget group is down 8 That's about 5% you man it down about 8 1 1 half percent black rock off 7 Molina health care down 6 That's a 2% move to the downside So we got some movers and we've got some shakers, but first let's begin by taking a look at what's going on in the market Let's take a look at market breath. Let's look at the four different time frames here that we can track This is going to be for the ES mini or the S&P 500 that shows up on our screen So right now what we know is we have positive market breath for the weekly daily and the 240 It's a 60-minute chart that is 141 instruments trading above profile with 188 below So we know that on the 60-minute time frame will go take a look at those charts see if there's any kind of signals there That's for the S&P 500 so generally bullish if we're gonna see a change in trend It'll happen on the shorter term time frames first out there Let's see what's going on inside the Nasdaq 100 inside the Nasdaq 100 This is set to bullish configuration all the way through weekly daily 240 and 60 So you've got 60 instruments trading above profile 20 instruments trading below profile For the Nasdaq 100 one thing I would say is that there's not going to be a top unless you get the Nasdaq to participate And right now from a market breath standpoint. It's saying no way Not at least as of 11 10 of the morning now We might have some other market breath data for the 30-minute charts out here So let's go check on those see what they're communicating to us in this case here We've got the S&P 500. This has got some bearishness to it's got 77 instruments trading above a 30-minute profile and 242 trading below profile out there, so So you've got some bearishness there, so we should pay attention to look at the 30-minute charts Let's take a look at the Nasdaq 100 as well See if this is in a similar setup and it appears that it is you've got 14 instruments above 47 below So on the end Nasdaq, it's only the 30-minute from a market breath standpoint That says that we should pay attention. So let's do this here. Let's move over to the charts the white background charts We'll pull up those Instruments, these are gonna be the daily time frame that show up on our screen. Let's go back Let's actually take a look and dive down into the details though of both the ES and the NQ So we've got the NQ up on our screen was a 30-minute chart that showed that it had negative market breath So that's what we're gonna start. So what's the Nasdaq doing for its 30-minute time frame? Turns out it forms a roadsman to indicator top that gets confirmed at 930 right at 930 What does price do? It pulls all the way back to its breakout level of support 13 136 with certain 163 25 Exactly what you would expect or anticipate If the market was bullish That you would see a short-term time frame chart now We're looking at 30-minute went to negative market breath out there and price pulls all the way back to where it last broke out That's the cool thing about the it's one of the cool things about the TD 9 system You've got an objective a very objective Line to identify both breakout and breakdown areas where price is likely to make countertrend moves to so far That is what's taking place. So what this tells you and I and this is very important on either side of that trade is 13 163 25 is a very key level to watch on a closing basis if price were to close below that that will At least signal move back to the most recent low from about 12 30 to morning on February 17th That's down at about the 13076 level what is more like than a transpire now is a move higher That move higher should take us into the bottom of that profile close to the oscillator and change line right around the 13 242 area that's the message from the 30-minute time frame chart for the NQ Remember the other time frames out here are bullish. So if we look at that 60-minute time frame just as an example What do we have out here? Not much. I do have a wave seven top out there. So we do have that But how that was to have that, you know, that's that's present And so if the if the breakout here in the 30-minute chart fails This is going to tell us that really still gets us back into the prior lows out here Which is down at the 13076 area what's important understand about the NQ. Let's see. What else is important understand about the NQ right now Let's look at the daily time frame So on a daily time frame, what we know about the NQ the NQ today made a higher high has not taken out yesterday's low Yesterday's low did not take out the prior days low the prior days low did not take out the day before that low out there So what we see out here is actually more of a series of higher highs Than anything else inside the daily time frame for the NQ remains above the top of its profile Continues to run into resistance at its oscillator and change line and needs a bearish reversal candle at day Zen to then confirm a Rogement-Demindicator top out there. So that's what I see when we take a look at the NQ Let's switch over and go take a look at the ES mini see what kind of signals it's giving us for its 60-minute time frame As well as the 30 we did look at the 30 that was also In a task market breath bearish crossover. So these charts here will populate momentarily and as soon as they do we'll go focus in on Well, either the 30 or the 60 I just want to see which one pops up and give us any kind of message if any kind of message exists at All so on the 30-minute time frame chart go on calculate where'd you pull back to so it actually pulled back and closed below Its breakout level so its breakout level was 41 74 50 So not as strong of a chart pattern as when we took a look at the NQ now That sort of makes sense because didn't the ES mini had a negative crossover for the 60 minute as well So the ES mini is weaker than the NASDAQ out there So what is the ES mini on a 30-minute basis doing? It's a great question. I'd have to say what the ES mini is planning on doing is getting back to test its recent lows That's about 230 in the afternoon on 17 and that's down at about the 41 48th level We get back to this break. We'll take a look at the 60-minute chart for the ES mini see if that has any Information out there, and then we'll take a look at the GDX and the gold contract for Dano inside the tiger's den 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 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? Visit the front page of TFNN comm 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 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 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 comm 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 it number two for the year an amazing accomplishment Steve Rhodes is committed to sharing his techniques and knowledge with anyone who wants to learn and he shares his vast amount of trading knowledge Every day in his mastering probability newsletter Steve's award-winning newsletter Mastering probability is delivered every trading day with updates throughout the afternoon sign up for Steve's market newsletter Mastering probability and you'll receive access to seven of Steve's educational webinars Absolutely free at TFNN all our newsletters come with a 30-day money back guarantee So you have absolutely nothing to worry about visit TFNN.com and try mastering probability 30 days risk-free today TFNN educating investors Free at 1-877-927-6648 internationally at 727-873-7618 Welcome back folks. We got the chart for the yesterday the 60 minute time frame on our screen out here I don't have any really great signals Unless it's really the NQ that's providing the best information. So if you're trading intraday today, I'd focus in on the NQ We know that price pulled back that support level and you'd be watching its patterns for its different time frames out there Let's go get to our first question out here, which is really John put a comment in here He said he's anticipating selling for the S&P the other markets going into May 5th And so with regard to my comment for that It would be best you've got a topping pattern inside the yes many a sell the d-point pattern You've got the roadsman to indicator signal that's been triggered inside the NQ But is waiting for a bearish reversal candle The Dow needs a bearish reversal candle to confirm a sell the d-point pattern and the Russell just simply is Consolidating with inside its profile. So we won't worry about the Russell So really the NQ and the Dow It would be best if those generated Topping signals the other thing would be the New York Stock Exchange. Let me just pull that up here So just as far as comments there though the reason I'm going to bring up the New York Stock Exchange I'm going to switch panels here for a moment So go back to the black background screens They'll come back to these ones that are popular right now The reason why I want to look at the New York Stock Exchange is because now that we're back here in the black screens That's the New York Stock Exchange as far as a closing basis is up at the top horse of screen What's down below it in the center there is the advanced client oscillator again That's the difference between the 39 and 19 period exponential moving average of the advanced decline line Well now what we can see here, and it's a really useful piece of information We have seen higher highs inside the New York Stock Exchange With lower highs in the advanced client oscillator And so that's a reason John to be paying attention to New York Stock Exchange Why because if we're this can lead to a fairly decent decline out here You can see the other instances where I have those on my screen out there now It's best if the spot ball tonics is below its 50 day exponential moving average in order for there to be any kind of real Traction to the downside we don't have that we're not even close to that just yet But now let's move over and take a look at the New York Stock Exchange chart This how I would put that together with regard to those comments knowing that we also have this pattern So now we just simply expand out the New York Stock Exchange. What do we see here? Well one we see an a to b equal cd pattern to the upside that right now would look like this We'll just simply draw this in here. So there's your a to b point or approximately I'm just going to move this over to the sc point out there And so that says that we get back up to the at sixteen three hundred level Do I see any other kind of topping signal here inside the New York Stock Exchange? There is no other pattern There's no other a to b equal cd pattern that I could draw in here. We are in bar number six So John I would say this here if we could get a topping pattern inside the New York Stock Exchange The only one that is present right now could be a TD nine count, but that is now Tuesday So Tuesday so Wednesday be bar number seven Thursday bar number eight and Friday bar number nine So we could get a TD nine count top between Thursday and Monday of next week So you may be on to something I'd watch that based upon the pattern So we just took a look up with regard to advanced client oscillator and the price moving higher inside the New York Stock Exchange And maybe that will be the key to the signal that you're looking for which is they pull back into the May 4th Time frame out there So I hope that that helps you out with regard to those comments last thing that I could provide to you It's really the seasonals now That's just 10 years worth of data for the S&P 95 years worth of data is what this looks like This suggests a top right around maybe around the April 22nd Time period so this is kind of falling into what we just looked at inside the New York Stock Exchange And then just simply a swift move lower into the 29th of April and then moves higher into that May time frame Out there, so that's kind of the market what I will share with you in the S&P 500 It is April the month of April the second most on average over 95 year period of time It is the third most it's the third most profitable month of the year The first one is July the second one is December and just behind it is April out there So we're in a very seasonal favorable month here the month of April All right, so now let's go take a look at some of the so thanks for your comments out there Hopefully the information I shared with you is helpful to you as well Let's go take a look at the GDX and the gold contract for Daniel. Let's start with the GDX out here I Didn't share with it a divergence is Peter. I just I just went over that so your look is a screen up right now Still it's not so the divergence is right there I just point this out real quickly before I move over you've got the divergence. That's what that's really what that whole segment was About you had a divergence with regard to the advanced client oscillator making lower highs While we have price making higher highs out there And that's the red you got to still wait for a top inside the New York stock exchange for that pattern to really mean anything And we don't have that as we speak right now that could come between Thursday and Monday of the next week No, let's get over and take a look at the GDX. What do we have inside the GDX? Well one we have an a to b equal CD to the upside now It's not confirmed on the monthly basis, but it gives you the pattern it gets us up into about the 3041 level on a weekly basis That same pattern exists now the weekly swing point did volume of 104 million shares It was passed with 115 million shares So we know the monthly is not going to give us or does not appear will give us the volume For a confirmed a to b equal CD the weekly does and that gives us that price projection I'll give you the exact number. I've got it on my other screen out here I believe the exact price projections 3841 now that would be the one-to-one a to b equal CD It's only a 57% retracement on the weekly time frame chart and prices along the strong side meaning the C to D Leg is on the right side of price. This is a stronger move than the a to b leg So the weekly chart for the GDX suggests a target of 3841 However, it's really headed up likely more towards 41 62 of the 1.272 a to b equal CD expansion level I don't have any kind of a topping pattern per se on the daily time frame Just simply price joshing around pulling back testing areas of support, which right now is really the top of its profile 3442 So that's what I see when I take a look at the GDX if we take a look at its daily dance steps out here We know it's called the a steamy two-step, right? It's not the Texas two-step. And what do we have? We had a two-day decline that is your typical knee jerk reaction time frame for moves lower out there And so would not be surprised based upon that confirmed a to b equal CD the upside that the GDX continues to move higher Now it would be helpful for gold to participate. So let's go take a look at the gold charts out here We take a look at the gold charts. Those will populate here momentarily up in the upper left hand corner You've got the monthly chart now the monthly chart, you know Maybe it's gonna go test the swing point from back in March of 22 up to 2140 level the weekly time frame It has an a to b equal CD to the upside 2130 or so being a price target. It's the month It's daily time frame chart that is the little booger right now and that's because it formed a roadsman to Mindicator top. It did that a couple of days ago. We got that bear sash candle So far that has only led to a consolidation a price movement with inside its daily profile in order for gold to give us a signal And I think that it may I just don't know exactly when out here But it now right around now would be the time period for gold to start failing However, what the US dollar did was it found resistance at the top of its profile even after having formed a bottom so what gold would need to do to suggest that we would have a Four week decline is that's what I'm looking at. It's just not ready to point to that at this moment out here Gold would at least need to close below 1974 20 the bottom of its a daily profile. So right now you've got a top You've got prices consolidating with inside a bowler structured profile out there. That's what we have So I have to say it's still a bullish market. We take a look at the daily time frame for Goldilocks We did have a pullback on that five hour time frame chart. Look at that That was a roadsman to mitigate her top a teeny nine count bottom right a breakout support of 2002-50 and in this case here price can overtake that greenhouse that are in change time We're looking at 2044 90 as its next move. 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That's gonna get you up into this bearish structured profile area for Advanced micro devices out here. You'd love to see this close back inside his profile and that's up at the 9108 level we're trading below that right now But a close above that 9108 should then be the signal that price is headed to 95 27 now If price were to close below yesterday's low out there and not talk about today tomorrow or or or later That's would negate this signal that would need require a close below 88 30 and suggest move back to 83 59 The weekly time frame chart has native B equal CD to the upside out there It does not have a bearish reversal candle But on a pullback if there were to be up for the further pullback eighty five seventy or so would be the price target We've got a nice TD nine count on the a daily time frame the monthly out here It's just consolidation with inside itself profiles on a daily time frame. What is AMD been doing out here? We've seen five consecutive lower closes Last time we saw that was back here on February 22nd and that led to a move higher So you've had five consecutive lower closes You've got the daily TD nine count and for all intents and purposes What we should see here is a rally inside of AMD so seagull I hope that that helps you out and provides you with the information you were looking for the next request is from the It's my email and this one is from Roger and Roger Wants me to look at Netflix and Tesla earnings today after the market and earnings tomorrow after the market and he really wants to focus in on the 30-minute time frame chart. So let's do that first. Let's take a look at a 30-minute time frame chart for Netflix out here Let's pull this over See what kind of patterns if any we can identify here for Roger So there certainly was an a to b equal CD pattern that was confirmed with this bullish hammer candle So that was a by-the-d point pattern that took place at noon on the 17th. That was yesterday So noon yesterday you got that bottom pattern Now you've got an a to b equal CD at the upside but no bearish reversal candle out here It prices back inside this 30-minute profile what you'd be looking for ultimately is for 32907 to hold that's its breakout level but 32867 to be another area for it to hold as well If price were to pull back further I'd also be looking at the volume on that 30-minute hammer bar that did volume of 344 through had a call 345,000 shares this last bar that was completed did 324,000 shares if price pulls back were to pull back test rejects at high 32976 do a lesson 344 or 345,000 shares that would be a rejection of a swing point on letter volume that would be signaling a move higher now This could easily be setting up a the c-point of an a to b equal CD to the upside But let's look at the other time frame charts here with regard to earnings because maybe it's really not the 30-minute chart That's going to give us the clearest picture of what it may be signaling to you and I So when we take a look at the daily time frame here Roger what we see is a TD 9 count top We also see that price has been dealing with a swing point out here from the trading session of April 12 volume there was 3.9 million shares yesterday you were moving lower 6 million shares so far today You've already got two and a half So this is pulling back with volume and the price were to close below 3304 we should see 324 13 and maybe even 304 14 So the setup right now you've got a top in place for Netflix a consolidation with inside its daily profile Volume is pushing the lowers that pushes into swing points out there It's signaling that it wants to move lower with 324 being one level of sport 304 being the next level the weekly chart says I don't know what you guys are talking about the day a monthly chart is saying the same thing It's saying that it wants to rally so let's go with I would say Intra day, maybe Netflix has a little push to the downside the question is doesn't hold support You also wanted to take a look at Tesla's out with earnings tomorrow I believe is what you said so we take a look at Tesla You also want to look at the 30-minute chart here So we'll pull that over first see if there's any kind of chart patterns and all I see when I take a look at a chart Here for Tesla's a sideways consolidation So it's not really provided us with a ton as to what it might do with regard to earnings call tomorrow If we do take a look at the daily weekly and monthly time frame charts, well, we'll see on the daily is what? It's a great question. What do we see? It's not that Well, I What do we see here? So I see a test of this swing point a few days ago about a week ago the swing point that I'm looking at out here is March 14th that swing load did 143 million shares the first time it was tested It was with 145 the next time it was tested it was with 129 the next time it was tested it was with 142 so 142 was also testing 167 So all the test of the downside out here Roger with regard to that swing point have been on lighter volume They've all had rejections the problem is that Tesla is consolidating with inside its daily profile So we don't have a great signal here other than just that consolidation It says watch 188 78 as resistance to 179 28 as support on a weekly basis a consolidation with inside of profiles on a monthly basis It consolidates with inside profiles, but it does have that by the D point pattern as does the weekly So weekly is not bearish monthly is not bearish and the a daily Not really bearish either so I would have to go with I don't see a clear signal inside of Tesla Roger if you're trying to do some type of option play out here. Let's see if Tesla. Let's try to figure out what information the Seasonal T ETF TSL Q. Oh, here we go. I don't know what Stevie was looking at So what we have out here is 12 years worth of data for Tesla What I can share with you is this at the April over the last 12 years April has been the fourth Best performing on January is number one followed by June although They're really close neck and neck followed then by August and then April so you're in a favorable seasonal cycle out here Roger that's the best thing that I've got for you But with regard to the chart patterns, it's really consolidation with inside their profiles daily weekly and Monthly I do hope that that helps you out. Thanks much for taking the time to write in the next question from the Tigers Den it is from ELO and ELO wants to take a look at ticker symbol BX so let's get over to it and Pull that up on our screen and BX is trading out at about nice nice gap to the upside today It's really trade at 90 72 Which is not what's showing on my white background screen. So sorry about that little bit of a data feed It's not going to change anything Because what you now have is a confirmed A to B equal CD the upside I would imagine you've got volume at the swing point level Well, actually that would be right here So the swing point at volume of six million shares so far today this airman has done six million shares Let's just draw in the A to B equal CD. Whoops. Why did I do that? Let's hit the right key Stevie. So a to B and I'm just going to move this over here Let's move this line over. I'm going to try to move it over One more time. There we go. All right So this is completing the one-to-one move of the A to B equal CD. You have both a competing You potentially have a competing rising window that's bullish and this is currently showing a shooting star But it's not a shooting star when I take look at my other chart So you've got a gap to the upside this would suggest to me that this will do more than a one-to-one A to B equal CD You've got resistance at the center of its barestructured weekly profile So here's a little booger and you've got resistors between 92 94 and 99 oh one when we take a look at Blackstone out there So they're coming out with earnings Watch today's candle and but here's the thing even if you did end up with a with a bear shooting star You still have to account for that gap and there's no way that that would be that gap if I colored it in with From a candle formation. There's no way that would be a bear shooting star So it always makes it a little bit more complicated out here. You've got a a Like just nothing else that I see out here ELO when it comes to Blackstone Steve Rhodes 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 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.com educating investors 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 TFNN.com when you subscribe You'll get a weekly report from veteran day trader Larry Pezzavento 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 TFNN.com 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 CHA U or CHA D directions daily CSI 300 china a share bull and bear ETFs China a shares in either direction visit direction investments.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 eight six six four seven six seven five two three The prospectus or summary 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 And folks so the only request we have inside the It's coming from the tiger's den it's from dan inside the tiger's den and dan wants to take a look at trigger symbol gf ai That is guard force ai Trading out right now dan at about 22 55 the level you want to watch today. I believe is 22 72 Now you're looking at my white background screens Um, it does not again. There's a little bit of a delay here with regard to its data feed Price is actually trading at 22 55 So the top of the profile top of the daily profile again is 22 72 If price closes below that it's been tested for the last couple of days That would then signal to me that price likely to pull back to support now It's going to be three levels of support on a further pullback And we're only suggesting that is a likely outcome with a close below Uh, the 22 72 level that first one would be about 1957 dan That's the oscillator and changeline below that you have a bullish structured profile That's between the range of 14 22 and 17 0 6 So that's your Support levels should we see a close below the top of that profile as I looked at the other time frames The weekly chart has a nice roadsman to indicator bottom And there the level that you're looking at is resistance is the top of its profile the top of its profile is 23 60 So to the upside did really love to see a close this week above 23 60 last week The close was 23 34 So you really got to get a close above that 23 60 level To suggest that there is some kind of change in trend some type of breakout that is unfolding out here On the intraday charts for example Which one has a top the 65 minute the 130 minute charts? They both have tops out there one's a td9 one's a roadsman to indicator top both have found support So that's a positive at the bottom of those currently current and active profiles out there So you know what level to watch? You know that a price close below the top of that profile now volume today is about 396 000 shares so far That swing point that we're looking at was 2.3 million shares out there. Nonetheless a close below The top of that profile opens up at least a test of that oscillator and changeline So dad, I hope that that helps you out. I don't see anything on a 30 minute chart or anything Worth really taking a look at out there that would provide you with additional information So thank you much for the request. I don't have any other request at the moment And you are most welcome out there. So let's do this Let's um, it's going to take a moment here for the charts to populate But since it's the ndx that is the one that is I'd have to say truly holding the markets up Let's go take a look at the ndx 100 charts out here Now I've got them. I just need to find the right tab Trading ndx charts. That seems like the right tab to stevie This is going to take just a moment here to populate and then what we're going to do is actually change screens and go over to The top holdings with inside the ndx 100 So let's get that going apple being the number one. So we're going to look for here any kind of signals Are they atop? Or any other signals that we might find out here. So let's start with apple as we take a look at apple Let's open up the chart and I see the other ones are still populating. Just give this a minute here Sorry about that as we take a look at apple. What do we see? Whoops. Let's try that again To stevie acting too quickly. So we take a look at apple out here Apple will negate a roadsman to middicator top with a close today above 166 84 We're 166 13 or or close to that apl. Let me see where it's trading 160 165 80 165 80 which is above the top of its profile So let me give you a couple of numbers here for those of you that trade apple You're just going to use apple as a monitor for what's going on inside the markets apple is traded above the top of its profile So that number is 165 75 So put that down on your pad of paper If apple remains above that it's overall signal is neutral to bullish if price closes below that level Well, then we could see just simply a price back to support Which would be between the 160 32 and 160 141 level now volume wise prices pushing to that swing point From april the fourth that had volume of 46 million shares in two hours of trading We've done 21 million shares prices pushing into that swing point with volume Or certainly at 1146 it appears to be with volume And so that says that price should be back up Even if it closes below 166 84 today it should be back up to test that swing point anywhere between 165 11 And 166 84 out there So we do have a top in place It could get negated and prices pushing into that swing point that form that top with volume It just says okay be careful with regard to apple in the case of microsoft microsoft had a td9 count top A td9 count top that just simply led to a sideways consolidation That consolidation will continue if price continues to close below the top of its profile, which is 288 61 But a close today above 288 61 for microsoft Well, that would then put this in a neutral position And if the price were to close above 292 08 it gets back to a bullish condition. So top here But but price is done It's just holding support and trading with inside a support zone in the case of amazon No top in place out here in the case of nvidia NVIDIA has a rogment dominicator top that top would get negated with a close above 280 even steven You're a 278 90 you're trading above the top of its profile It's not exactly a bearish setup even though it's got a top. It's more neutral than it is bearish googley one google Yesterday with its gap to the downside formed a rogment dominicator top But like the other ones it is just consolidating with inside of its profiles no levels of support to have broken tesla, we already covered meta facebook out here. What do we have for facebook? It's trading out. Let's pull this back would be easier to see what facebook needs Is a bearish reversal candidate confirm a rogment dominicator top other now It's lost its momentum a bit But that doesn't mean that it's not going to continue to move higher out here So we don't have a top when it comes to a facebook it bearish reversal candidate would go ahead and form a rogment dominicator top and then finally let's finish it up. I'm not sure if uh if Broadcom is in fact the eighth weighted instrument sometimes it's switching between that and pepsi or cosco Or cisco, but either way it is one of the top weighted stocks inside the endx 100 We take a look at the chart here for broadcom what we see as a rogment dominicator top The price basically consolidating in a sideways range Price has gotten back to where price has broken out from to a certain extent this gapped up on march third With 4.6 million shares and pulling back is pulled back with 1 million 1 5 1 5 1 4 1 3 it doesn't exactly suggest that it's got the bottom To push things lower out there even though it's got that top. So we do see just to summarize What do we see here for the top eight or approximately the top eight holdings with inside of the uh Ndx 100 we most certainly see tops that are in place out here They have been taken out if they do obviously those get negated and tells we move higher out here But what we haven't seen is much in the way of selling the retracements have been pretty Thin pretty narrow at this stage for those instruments out there But I still say keep an eye on the nq So right now we've got the dow down 101 93 actually the s and p's off six nasdaq 100 is down 15 That's one tenth percent of the downside brussels off 11. That's a big mover to the outside That's off six tenths were sent and you've got the semis up eight points right now to 30 74 Gold is up 14 50 silver's up 22 cents Lights be crude is up 48 pennies natural gas up 7 cents and the 30 treasury printed out at 129 31 Steve Rhodes with tf and n will be right back If you're looking for potential trading setups in the stock market then rocket equities and options report is a newsletter You should try tom. 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Just visit the front page of tf and n.com Back folks. So, uh, we will probably leave the show where we began which was take a look at the nq out here So those are the charts that you've got up on our screen As we speak right now the 30 minute time frame for the nq is still in a bearish crossover mode There are 11 instruments for a 30 minute chart trading above profile 47 below profile out there and prices testing his breakout level of 13 163 now the 60 minute time frame Still remains bullish when I say remains bullish are 60 instruments trading above profile 22 below So it seems to me like what we have is a choppy market 30 minute again coming back and testing that support level 13 160 325 you want to watch that today like a hawk that may be signaling something to us if price breaks through that Now the reason I say that and the reason that john inside the tiger's den was just simply started off with a comment of looking for a pullback I would have to say is more so because of this chart This chart here is the dow cash index and what I've drawn in here are two Different channel lines. We've got a rising price channel. Those are the blue diagonal lines and we have a descending price channel And what price did last week what it's done this week, which it has done several times It's made its way up to that descending price channel line If price closes above that if I close it above that that would mean well Let me get a data box out here that would say that would mean a close above last week's high Which is 34 082 94 if we get that then we likely have a change in trend signal Now the other resistance level that the Dow hit is the horizontal trading ranges. So those are the green ones up at the 34 152 level what price actually got up to as a high last week was uh, what did I say was a 34 082 First 34 152 So you can also see that we've got a consolidation inside of the dow The cash in to see that is that's running between 31 5 30 and the 34 152 area and price run into resistance At a descending price channel and if that in fact holds well, we could see at least a further move lower With 31 5 30 being another price target to the downside. So I'll leave it with the best that I can And hopefully that works for you, but stay too. We've got great programming lined up I'll be back with you tomorrow on wonderful Wednesday. Please have a terrific Tuesday And be safe out there. Take care. We'll see you