 The following is a presentation of TFNN. The Trader's Edge with Steve Rhodes. Toll free at 1-877-927-6648 or internationally at 727-873-7618. The Trader's Edge. Now, Steve Rhodes. Good afternoon from TFNN. Welcome to the September 11th, the wonderful Wednesday edition of today's Trader's Edge show. I'm your host, Steve. Perseverance Rhodes, who absolutely knows that each of us should always be pioneers of our future versus prisoners of our past. Hope everyone out there is having a great day. Hey, let's have an extraordinary one. And the easiest way to do that is to always remember that life is happening for us, not to us. All right, when you and I make that one little two-by-four shift, it means we can find the gift in every set of circumstances 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 way more important than that. During this next hour, I'm here to serve you. So feel free to pick up that phone. You can dial on it at 877-927-6648. If you can't dial in, we've got you covered. Just send me an email. Steve at tfn.com inside the subject heading. Please put radio show question, of course, in our Tigers then. Well, any ping will do. So let's go ahead and get this show started on wonderful Wednesday. Of course, this is Tiger Financial News Network. I'm Steve Rhodes. Welcome to a last show right now. We've got the Dow trading up 109 points, about a half a percent, a little bit less than half a percent to the upside. Half a percent of the upside is the S&P. That's 15 points. NASDAQ 100 up 9 tenths of a percent or 67 points. Russell's up one and three tenths percent, 21 points to the upside. Another nice day as is as semiconductors are also having their 20 bucks or one and a quarter percent. So it's meaning green across the board as it should be, as it's to be expected as you and I have discussed here for days now. Of course, part of that is because of that spot volatility next, which continues to trade lower, should continue to trade lower down into the 13 points. It's at $14.70 and if that is what unfolds, well, what that means is you should anticipate and expect the markets to continue to move higher. You've got gold, which is basically flat. It's up a buck, 16. No big deal there. It's right now at 1500.80. It is below the bottom of its daily profile that says expect and anticipate a change in trend. You've got silver down three pennies. She's trading at 18.15. Light sweet crude is off the buck 50. That's down two and six tenths percent. So we've got plenty to look at. Of course, I want to look at what you want to look at. Lead the charge, by the way, to the upside this afternoon is booking holdings. That's up 22 bucks. Intuitive surgical is up 19. Google is up 15. Metler Toledo International is up $15. Zscaler, ZS is a ticker symbol down 21 percent or 12 bucks in change. Fair Isaac Corp. down seven bucks, nearly a little over 2 percent. Lenox International off six and Guardian Hell off a 5 percent out there. So the first question that came in came in earlier this morning, I mean like 4 a.m. or so, was a request to go take a look at light sweet crude. So to do that, we do a couple of different things out here. One, we take a look at four different timeframes, our 60 minute, our 120 minute, our five hour, which is 300 minute, and then our daily timeframe. Now in the daily chart, we have both the daily and the weekly profiles out here. Of course, when price is above the top of a box, we'll see a green bar. It tells you that price above resistance. When it is below the bottom of box, it tells you you have broken through support. Now, in the case of the day, we can see on the intraday timeframes, we've seen quite a move lower over the course of the last several hours, four hours or so. Let's take a look at the daily timeframe chart, get a feel for what it's communicating to you and I. Now, what we know about light sweet crude is that it had tried, it attempted to break a descending trend line. It closed above that level on the ninth, and then yesterday, it tested and rejected that area. And we don't know where the light sweet crude is going to close today, but if it does close below 5635, it's back inside the daily box. It will have been a false breakout of that trend line, and that would say to expect lower price. Now, expect lower price to where? We go right to the bottom of that profile. It would be in the 51-34 range between 51-34 and 52-34. That's what light sweet crude is telling us based upon its daily and its weekly profiles, as well as that trend line. If I had to pull over, if I were to, which we will do, pull over Stevie's white background charts by Ninja Trader charts with all my other proprietary tools out here, you can see the price is pushing right down into Stevie's red line. That's the oscillator and change line. So it is pushing into a support level right here. That's why the end of the day will tell you what light sweet crude is really going to do. If you had a hankering to be bullish, then right now would be the time that you would buy. I'm not suggesting that at all based upon the chart patterns that I don't see out here. I don't see something that tells me we had a significant bottom back here on August the 7th, and based upon the trend line reversal that we took a look at, well, the only way that I could give you a buy signal right now would be to look at an inter-day time frame chart. So let's go do that. Let's go take a look at the 30-minute time frame chart for light sweet crude. Of course, we're taking a look at the October contract, and the only pattern that we have out here at the moment is A to B equals CD to the downside. The A point out here at the most recent high, that would have been it looks like at about 11 o'clock in the morning. That was yesterday. Yeah, that was yesterday. So you've got the A to B equals CD. We can see prices made the 1 to 1.618 price projection area. That's at 55.76. We're trading at 55.83 right now, but that doesn't mean just because we hit that level that this is a bottom, in fact, from an inter-day standpoint, that being 30-minute time frame chart. I could not give you the signal to go ahead and fire away based upon the fact that price is sitting at Stevie's red line on the daily time frame. You need to see some type of bullish reversal candle formation. It is not present. With it being not present, it says maybe price moves down to the next extension area of that A to B leg, and that would take us to about the 55.18 area. So we're just simply watching here from an inter-day standpoint for some type of bullish reversal signal to suggest you should at least see some type of bounce or counter-trend move out there. So LightSuite crew, that's what I see. I don't see a whole lot of reason to play in that area. I just, there's other vehicles that have generated better bottoming signals and so on and so forth. So hope that helps you out. I believe that was Vicki that wrote in earlier. Now let's go take a look at some other questions that I see at the moment. So let's go take a look at the equity markets. And it's interesting where we're at. In fact, let's go take a look at the cash indices. Some of you may have got this morning's 9 o'clock show. I was doing Larry's show this morning, as I have the last couple of days. Won't be doing it tomorrow or Friday, but I believe I'm back doing a show on Monday and Tuesday out there. Don't quote me on that, but I believe that that is the case. So what's interesting about the equity indices charts out here, let's take a look at the S&P as an example. Today is going to be or appears that it's going to be day number nine or bar number nine of the TD set up nine count. Now, what you and I know is that on bars eight, nine to the bar following nine, as long as eight, nine or 10 are making the highest high inside that pattern, that can be a reversal area. So it says we need to be on guard today. We need to be on guard tomorrow out here inside the S&P 500. Now, the S&P 500 has not done thus far. After Stevie's red line turned green about four trading sessions ago, typically you will see that level and price catch up to each other. That level right now being 2946. It's not my call just yet. I say it's not my call. I'm not making that call. I'm not suggesting you go short the market. I'm suggesting that we need to be paying attention today and tomorrow specifically for a potential for some type of retracement to begin, at least back to Stevie's green line. We'll take a look at the other cash indices as soon as we get back from this break. Steve Rogent here. If you're not currently using the TAS Profile Scanner when looking at setting up your trading opportunities, then your arsenal is short a mighty weapon. The TAS 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, TAS 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 TAS Profile Scanner to profit. 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And if so, where do you see strong support in the Dow in a good area to buy? So, look, we just looked at the S&B 500. Let's pull over the Dow Jones chart out here. And you'll see all the indices right now today. It looks like all of them, yeah, all of them are doing the same thing by the same thing. Well, some are in day eight, some are in day nine. Looks like no, it looks like we're all in day nine here. Nine count of the nine count bar out here. So you'll see yesterday was day number eight. Kevin, inside the daily chart for the Dow, we know on bars eight, nine, or the bar following nine. So that could be Thursday. There could be some type of high. Now, specifically in the Dow, first of all, I want you to sell tops and buy bottoms. And when this pattern shows up, that's what I want you to really focus on and pay attention to. Because you're asking the question, where's a good area to buy? How does the market communicate to you what its intent is? For example, when the Dow went ahead and formed a bottom down here on June 3rd, June 4th. And I remember everything looked like all heck was gonna break loose. The world was coming to an end. Of course, you and I knew that that wasn't the case. We just knew that the Dow was being stretched to the downside unreasonably. So we're still in it with less energy, even though it was making a lower low. That's how bottoms are formed. And then that's what creates that, so the rose momentum indicator pattern out there. You then get the bullish reversal signal on June 4th. That was your sign that, okay, the buyers were out there in force. They didn't tell us whether they were gonna win the battle or not. But we knew that the cavalry had arrived on shore. And that is very important. And that says, okay, the bulls now should have the ball. And you're gonna go ahead and take that move on the bulls out here. Price was above Stevie's red line and green line. Really remained above that for its entirety until we got into the July 24th, July 25th time frame. July 25th, by the way, was a key reversal session. That is a bearish reversal candle. And that was confirming the rose momentum indicator top that had generated July 23rd. Then when the bottom forms out here, and this bottom forms, we don't know exactly when it's gonna have, we can monitor it to watch for this. But certainly on August 15th and the 16th, there was a 16th when the Dow generated that bottom signal. Again, the same pattern. It just is like rinse, repeat, do it over again. We don't have that pattern right now. We are not going to see rose momentum indicator top tomorrow. Not much I can guarantee you. We're nowhere near that. But what we do have is we do have that TD set up nine count to the downside where 27, 281, 65 is resistance. Typically when a nine count pattern forms and it's below a prior resistance level, you expect to see a turn in the market. Now, the turn in the market here for the Dow could simply take it out into Stevie's Greenland. It's 26504 right now. Two days from now, that number will be different than the number I give you right now. But it will be in the general vicinity, so to speak. Now, this is gonna be hard for us to call. This top should have formed. It's going to be hard for us to call. And I'll show you some of the reasons why. But what I want you to do is now is not the time to enter. That's for sure. You're not gonna enter when you're close to the potential of a topping signal out here in the markets. And all the markets are doing the same thing. That was the Dow. Here, let me pull over the New York Stock Exchange. Here you'll see the New York Stock Exchange. A higher high today. Bar number nine of the TD set up a nine count pattern out here. Let's take a look at, let's look at the semis. They're having a nice strong day out here. What are the semis doing? The semis have recycled, if you will, to wave number seven. That's letter H on my screen. We know there is no such thing as wave number eight. So we'll go ahead and get rid of that. We'll go ahead and change it out to blue out there. It's wave number D, wave number four. But really what it is is bar number nine today of that TD set up nine count. As price comes back into a prior high out there. Now look, these patterns don't always identify the top or the bottom. But when they do show up, we do pay attention. If you take a look at the bottom that formed back in the Maytime frame for the semiconductor, it was with the TD set up nine count. That was the signal. That was the pattern that is out there. That's the reason that we're focused and paying attention today, tomorrow. What do you do if you're long? Just make sure that you've adjusted your stops. Take a look at the transports out here. What are the transports? They are in bar number nine as well. Now in the case of the transports, Stevie's red line turned green. Typically the phenomena is at price in that level. We'll catch up to each other. That could be the buy point into the Dow or the transports out there. We just have to take things one step at a time. So it's impossible for me to give you an accurate forecast. I'd rather wait to see what patterns are playing out to then make that determination. If we take a look at the Wilshire 5000, where is it at? Bar number nine. So everything is at bar number nine. It's done it in unison out here, whether it's the Russell 2000, whether it's the NDX, whether it's a NASDAQ composite, it doesn't really matter. They all are doing the same thing right now. So why is it that Stevie is saying that this is going to be difficult in essence to really call a top out here? And I'd say the real reason is because the spot volatility index is not done doing what it needs to do out here. Yeah, it's that simple out here. What do you mean it's not done doing what it needs to do, Stevo? Well, what it really needs to do, it needs to get down to this yellow line on the very bottom of my screen. Yesterday was priced at 1310 or 1309. Today it's 1311. The spot volatility index is 1469 right now. Now, maybe it gets down there into that 1311 area. We see the markets move higher again tomorrow. Bar number 10, that's normal. And then the whole combination might come together. In fact, what we might see is we might just see the advanced client oscillator reading stall at 150. It's at 149.21 right now. I do not know what the end of day reading is, but there are plenty of what I call plus 150 failures out here. Last time we saw plus 150 failure, I really took place on June the 20th. We saw a bit of a move lower. Then a move higher again. That move higher generated a topping signal for the New York Stock Exchange in a way that prices moving higher, but its advanced client oscillator was not making a higher high. It was making a lower high. That too was a signal. That eventually led to a consolidation and a final breakdown. Of course, we know that the bottom that formed in the NYSE was the exact opposite pattern. The advanced client oscillator reading was making higher lows in the face of lower lows with regard to price. We don't have one of those patterns that is present right now, Kevin, inside the New York Stock Exchange, but we do watch the plus 150 area, but we certainly watch that spot volatility index. It really does need to push its way down to the bottom of that Bollinger Band, where tops can form in the marketplace out there. That would also say, hey, we could go take a look at shorter-term timeframes. On the shorter-term timeframes, are there any signals out there? That's an excellent question. To answer that question, we just pull over Stevie's market analyzer. Now, I know that the data here is going to be a little bit small, but you can see some of the futures contracts that we take a look at. You've got the equity futures. You've got gold, silver, light-sweet crude, natural gas, and the 30-year treasury. In this case here, you've got your 30-minute, your one-hour, your two-hour, your five-hour timeframes out here. So what I have listed is what is the market condition. You'll see on the 30-minute chart, everything is in a breakout bull mode in the equity futures contract. Same thing in the one hour. Same thing in the two hours. Same thing in the five-hour timeframe. What does that mean? That means that prices above all levels of resistance out there. And in doing so, what we don't see on a 30-minute timeframe, a one-hour, a two-hour, with the exception being the Dow. We could take a look at that. Or the five-hour, we don't see a Rhodes momentum topping signal. So the short-term timeframes, which is where you would see a top form first, doesn't have it out there. Maybe this time the TD set up nine count is not going to show us a top, but where a new level of support would be. Steve Rhodes with TF and that. It's not going to be easy to call this next top. Not too easy. We'll be right back. 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. I'm Steve Rhodes, author of Mastering Probability. And for the last 12 months, Timer Digest has been tracking my newsletter signals, which have earned me the ranking as their number one market timer in the nation for the S&P 500 for the last 12, 6, and 3 months. 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This segment is brought to you by Think or Swim. For more information, just click the Think or Swim banner on the front page of TFNN.com. Welcome back, folks. So, well, one of our donors asked to take a look at the market breadth for the NASDAQ. And what we do have here, Coda, is the market breadth for the NDX100. And that comes to us via our folks over at TAS Market Profiles. And so here what this is helping you and I understand for those 108 or nine constituents that are inside here, this is the weekly timeframe, by the way, that we're looking at first here. We've got 50, or it has 50 issues trading above the top of its box and only 18 below the bottom of its box. So percentage-wise, nearly 50% above the top and 17.5% below the bottom. This is really strong market breadth. This is a weekly timeframe. So the market breadth inside, and this flipped on September 1st, I believe, was when it switched back to bullish out here. In between that, we had a bit of a little consolidation. If we take a look at the daily timeframe, out here you're going to see that this punched through to the bullish side back on August 29th with its crossover. Here you've got 62%, 61%, I apologize, of the constituents trading above the top of the daily and only 20 below the bottom. It's why yesterday I was saying, don't be short, don't be short the NASDAQ or don't be short the S&P 500. The market breadth was just too strong out there. And so there were no cracks in the armor, so to speak, out here. The pullback that we saw in the NDX100, that was normal natural because TV's red line had turned green. We'll go ahead and pull that NQ chart up there again so you can take a look at it. So what was unfolding was normal and natural. What you and I talked about for the cash indices and our expectation that that will also unfold. But we've got to really navigate this one step at a time out here. Here take a look at the four-hour timeframe chart out here at Coderwood. It's going to flip back and forth a little bit more often, but here as of yesterday, 12 noon, this thing is in bullish mode out here. And if you go to the shorter term one hour duration, this shows us again yesterday at 2 p.m., everything went back to bullish. So market breadth for the NASDAQ100 is very strong. And this is based upon our reading of the TAS market breadth system out here. If we take a look at the S&P 500, give me a moment, we'll pull up that chart, that tool out here. You're going to see, you'll see it if I can actually grab it. Here we go. So here we're going to take a look at it. Just let's do the same thing. Hopefully that's okay with you. If we take a look at market breadth, again, market breadth, when you are above resistance, that's what this is doing, or below support. Above resistance, it's bullish. It's in a breakout mode. Below resistance, it's bearish. It's indirectly speaking, it is in a breakdown mode. You've got of the, you've got 48%, 48% of the issues inside the S&P 500 on a weekly timeframe are above resistance and 11.13% below the bottom on a weekly basis. This is super strong market breadth. It could get stronger certainly, but it's super strong market breadth. The weekly daily timeframe, you've got 64% above the top of a daily box and 16 below the bottom. It's why any dips are being bought out here. It's just super strong market breadth. Somebody is telling you that the market breadth is weak out there. I don't know what it is that they're looking at. Well, they're not looking at this. One thing we can be certain of. They're certainly not looking at the bullish crossovers for the S&P and for the NDX100. And yes, this is not going to call the top and it's not going to call the bottom. But assuming that you've missed those two things in the middle of the sandwich, this tells you it's pretty meaty out here. Take a look at the four-hour timeframe chart. Again, bullish market breadth, the one-hour timeframe chart. It's been bullish market breadth in the S&P since September the third out here. So market breadth is very strong. Market breadth in the New York Stock Exchange, let me close that out here, is also very, very strong. That advance decline also that are getting up to the plus 150. It's plus 151.26. The fact is a close above 150, and that's possible today. Any close above 150, the plus 150 level tells us that we have higher prices to come. Doesn't mean tomorrow. But whenever you see a reading above 150, and you go back and you research this, you will see that we have seen higher prices. Now, of course, somebody could say, man, that's fairly easy to make that decision, Steve. Oh my goodness, we're only 1% away from the all-time highs out here. I know, but still go back and take a look at it. Now, I don't know if I have on this chart here the advanced decline line. Let me see if I do. It may be on another chart out there. It may be during a break. No, I do have it here. So let's go ahead and put that up. So where are we on the advanced decline line? We're at a new all-time high today. So again, when you are a new all-time high in the advanced decline line, it tells you that market breadth inside the entire community, inside the New York Stock Exchange of stocks out there is extremely positive, is extremely bullish. And that's what it's telling us. This is also the advanced decline line, the lack of any kind of divergence. Divergence would be the advanced decline is not making higher highs in the face of price making higher highs. That pattern doesn't exist out here right now. So we're very market breadth positive out here. It's why we take a look at the seasonal cycle, but we don't use the seasonal cycle as religion. We use chart patterns. We use chart patterns, simple tools. That took me a long time to figure out and learn. That's for sure. But listening to the show and me sharing with you what it is that I share with you, it means you don't have to invest those thousands of hours. You can just pick up the work where I've got it, figure out ways to improve upon it. And trust me, I'm certain that this can be improved upon. It's always about improving things out there. Always. But right now, all the signals to all of the listeners out there, to you, Kota and the Dan, who was asking about it. I don't see anything but strong market breadth everywhere. Again, market breadth is not going to help us to identify a top. The advanced decline I said reading at the plus 150, that's a different story because that has a history for us to go back and say, okay, this is the time where the sphincter muscle, the bulls needs to tighten up just a tad. Tighten up just simply means make sure you put stops in place. I can't know for certain what the exact next move is going to be. I don't know what sweet might come out. By the way, the tweets typically come out between noon and two. And they typically kind of, I guess historically somebody went back and did a study on this. I think it was Bloomberg or something. I read an article somewhere over the past week or so. And one o'clock seems to be the average tweet time out there. So I don't know what might impact the markets next, but with the market breadth so strong out there, taking short trades is just really not the signal that's being present out here. Doesn't mean we're going to ignore those topping signals. It's just a signal as we speak out here. That's why I said calling the top of this time right now specifically is not going to be an easy thing to do. We've just gone through this little checklist here. I'd get a little more comfortable and maybe try to identify top if that spot ball utility index was down in the 1311 area at the same time that we're getting to a TD set up nine count. I'd certainly feel much better with calling the top or bottom if the roads meant the indicator signal was present, but it's not and we just have to go with what we've got out here. If we take a look at the ES mini, this says to you and I, it's headed to 3014, 3030. If we take a look at the NQ, picking close above 7881, it's going to make another run for its all-time highs and the Dow equity futures contract is already headed back to its all-time highs. Steve Rhodes with TFNN. 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. 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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, including the possible loss of principal. The funds are designed to be utilized only by sophisticated investors such as traders and active investors. Distributor, Foreside Fund Services, LLC. Don't forget, you can listen to TFNN live on your mobile device 24 hours per day. Go to TFNN.com and hit Watch Tiger TV. That's TFNN.com and hit Watch Tiger TV for the latest market information. Code, I know you were showing the NYS, the NASDAQ composite out there. So the only thing I can pull up here for you for the NASDAQ composite is it's advanced decline oscillator reading out here. I do have a way to get the advanced decline date. I couldn't do it during the commercial out here. But I did see that you had posted something with regard to that. But here what we can see about the advanced decline oscillator, it too is rising out here. It's almost back to a high from back in January of 2018. So again, this is market breath very positive here inside the NASDAQ composite, but that doesn't mean that this thing is not also possibly making a top. We have to just simply pay attention to those TDES set up a nine count out there. And where we will see some type of if there is a change in trend, we'll see it typically, we'll see it show up for example on the intraday time periods. So as one example out here, let's just go to the NQ as that example and let's stay here. So for the NQ what you need to start seeing are the levels of support being broken. These are breakout areas of support. So inside the NQ as an example, that level is going to be 7805 to 7798. The 7798 was tested earlier this morning. That was a breakout area was tested, it was rejected in price and screamed to the upside. Of course, we had already known that the NASDAQ so the NQ, here's where things get a little bit tricky. So in the case of the NQ, what we can say is that yesterday and Stevie's green line, when that line changes color, red to green out here tells us of an impending move in price. It tells us of an impending connection between price and Stevie's green line at this stage here. Now the NQ itself has not generated a TD setup a nine count pattern. So maybe the futures will provide us with better information out here. But it's only the NQ, the ES I can see has taken off this screen here to my right for my other screens, the Dow has and the Russell has, but the NQ itself hasn't. So here's the divergence so to speak. What the NQ has done that the others haven't done is come back and pull back and in essence tested that level. When it tested and rejected that level yesterday that was a bullish test says that price wants to be higher and what we do is we put that together with what else was going on inside the markets yesterday inside the NQ specifically which was the NQ broke above its consolidation on September 5th. On September this 9th a few days ago on Monday price pulled back to test that level when you break above a resistance area consolidation top of the consolidation would be resistance you love to see price come back and test it and reject it to tell you it wants to move higher. That is exactly what took place yesterday during the day most certainly price was below that area but by the end of the trading session that's what's important price had rejected the top of the consolidation. We had another test of that area this morning price has rejected it. This says to us that if the NQ is going to do what normal breaks of consolidations do this is where things get tricky here then what we should see unfold is a measured move up to 80 to 35 I don't make these rules up I just share with you the rules that exist out there and they work really good. So what's that nine count malarkey about out there this is where we're going to have to be watching like those inter-day time frame charts to be looking for signals out there early signals in the case of the Dow it's broken through that consolidation appears to want to head to 27 548 the measured move it could go beyond that because measured because consolidation projections price projections are equal to or greater than the consolidation of only put in the equal to consolidation and inside the Russell 2000 who knew how it was going to happen but it has happened it's at 1567 it's just got another 30 points to get up to the 1605 level now that would be ideal I'm not saying this is what's going to happen because it would be one heck of a move out there but that would be ideal complete the consolidation form TD set up the nine count pattern do it tomorrow on bar 10 get the spot volatility next down to the 13 ish range out there then that could be the perfect setup for the next decline out there but right now everything continues to point to higher highs and let's not get caught up in the fact that the NQ hasn't made a higher high meaning taking out the September 8th or 9th levels out here it already did its bullish tests yesterday and the day before and once again this morning so that little puppy could easily go ahead and power itself up at least get to the top of its daily profile at 80 3175 but right now I think well that I mean that is a resistance area it's really 7951 to 8031 out there so that's that's the markets that that's really the take on the message of the markets it says okay we just need to be careful be observant because of the patterns that are in place here there's nothing that says exit there is most certainly nothing that says go to the short side of the market out here and just says be cautious and just simply continue to adjust your stops okay so what else is it that we want to take a look at there's no other questions that we have I take that back December hogs Ruby wanted to take the look at December hogs and see if we can get that up on our screen out here so give me a moment to get down to the December hogs and so you say December I happen to have up here November but we're going to change that out for you so let's go take a look at the December hogs let's take a look at the daily time frame chart look for its daily profiles and what we have out here so it's possible Ruby that that lean hogs have found a bottom very possible now it's although it's hard to read on my chart the bottom of the daily profile is 6066 the bottom of the weekly profile is 6076 so you got a 10 cent difference there but here's what you also have today now I happen to I'll see if I can pull up on my other charts see if I I don't know if I've got December I'm going to hope that I do give me a moment here just well let me just try it this way H well one night I'll know momentarily no it did not like that so with that being the case how else is Stevie and so here's here's what I want to do I share with you a Ruby today is a key reversal bar it appears to be a key reversal bar it depends on the close you see the open was 6177 we're trading at 6177 in order for it to be a key reversal it has to close higher by at least one tick the high of yesterday and the low of yesterday have been exceeded but in order for it to be a key reversal bar to at least get back in the range and say the price is going to go test the top of the daily profile or center of the weekly at 6716 you'd like to see some type of bullish candle that bullish right now it's just a doji candle it's a true out doji the open in the and where prices trading right now are exactly the same so doji the doji is at the market is tired whether it's at the upside or at the downside now where that where dojis have the largest impact this coming from Stevie is coming from from my years of knowledge and studying the doji the doji candle out here they work better at support and resistance for identifying turns out here the middle Schmiddle they don't mean a thing so we're close we're close Steve Rhodes with TFNN right back since 1984 Bazel Chapman has been using the Chapman wave methodology to advise traders of his expert market opinion while originally hand drawing charts from the late 1970s into the 1980s Bazel noticed that prices under most circumstances virtually always had a certain number of likes to the upside before declining sharply Bazel found that computer software which included the standard market technical indicators enhance 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 Bazel 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 Bazel's daily trading newsletter by visiting the front page of TFNN.com cancel it anytime during that trial and pay absolutely nothing get your two week free trial to Bazel'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, GDX, the dollar as well as more than 30 different mining equities as of September 3rd gold report subscribers have 5 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 you know what's cool taking something that's good for you something specifically formulated to help with weight loss better sleep stress reduction and the need to detox Nicar hunter and gatherer ancestors found all their nutritional requirements for health in their wild environment but today 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, baddie and amino acids and 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 molecules because like sunlight air and water life cannot exist without them that's right page 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 hour right here on TFNN welcome back folks so we're taking a look at cosan limited out here for ruby and the tiger stand ruby price is running into a possible resistance level the resistance level being the top of its weekly profile $14.99 now it's only Wednesday but as prices pushed into the prior swing point which was from the week that began July 29 that had 3.7 million shares you're at 1.7 as we speak right now from a daily standpoint that high is again $14.99 August the first volume of $7.87 10 of you are pushing into it $409,000 doesn't mean it can't push through it and above that level it's just you'd like to see it do it with some volume out there this chart here is not updating it just is grabbing through yesterday so my apology for that but as we take a look at it knowing that it's moved to a higher high today is going to be day number 8 day number 8 of that TD set up 9 counters we also have a topping pattern at a prior high with lighter volume so not saying to short this but does have an indication that we might see a retracement or a pullback into the 14 40-ish type area out there maybe 14.05 the top of the daily profile but here with regard to COSAN Limited it's up against support the final issue we'll take a look at out here for a set is a ticker symbol what is it? SMAR let's go take a look at SMAR the question is can I buy a few shares here so what you're looking for is some type of bottoming pattern to have taken place this too is not picking up today's action only yesterday's and so I don't have a bottoming signal here just yet so let's do this oh I take that back yesterday was wave number 7 letter G so if you are so it's pretty simple you go ahead you take the trade you take a few shares and you put your stop below yesterday's low do the proper position sizing and you're going long because of SMARTsheet singing in the key of G folks thanks much for being here stay tuned David White's up next your favorite polar bear Tom O'Brien 3-5 I'll be back with you tomorrow wonderful Wednesday and a moment of silence as always on this day take care