 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 morning, folks. Welcome to the April 26th, the wonderful Wednesday edition of today's Trader's Edge show. I'm your 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. Let's make sure we have an extraordinary one. And the easiest way to do that is to always remember that life is happening for us, not to us. That's right. When you and I can make that one little two-by-four ship, well, 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'll go figure out what those bulls and bears, what those buyers and sellers are communicating to you and I at just past eight o'clock in the morning. That's right. If you're listening at the normal time, we are recording today's show between eight and nine. So if you are listening live, we would love to hear from you. You can always send me an email, Steve, at tfn.com. But I prefer to hear from you by phone. So give us a call at 877-927-6648, of course, inside the Tiger's Demo, any and every 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 the show. Right now we've got U.S. Equity Futures kind of mixed out there. You've got the Dow futures up 35, NASDAQ up 97. That's about seven-tenths percent, and the Yasmine is up three. So they're basically flat, and the Russell's down nine points. Over an age last night, it was a bit of a mixed bag. The Shanghai was basically flat. The Hanks angle was up 139, and the UK was off 203. Over in Europe this morning, DAX is off 107, and the FTSE is down 28. Now, usually the DAX and the NASDAQ composite will follow each other. Directionally speaking, that is. Gold's up by 80 cents right now. Silver's up 22 pennies. Platinum's about 15 bucks. Copper's up by 2 cents. Natural gas is back 9 pennies. The Light's Recruit is trading out at 76.75. That's off 32 cents out there. US dollar index about 101.14. That is down 45 ticks right now. I do have a delay on that, so it could be about 10 minutes delay on that, so it could be off just a tad. So let's begin by, like we typically do, try to understand what are the market conditions as we speak right now. So for those market conditions, let's take a look at where we're at with regard to profile support, profile resistance. So here, this is a 30-minute time frame. And in a 30-minute time frame, we're looking at the ES-mini. And in the ES-mini on the left-hand side, it'll show you the market breast statistics. Here you can see that there are 227 instruments trading below profile, 98 above. That says that sellers are the ones with the edge inside the S&P 500. Let's go check out the NDX100. Inside the NDX100, we've got 22 above, 46 below. So we know for the 30-minute time frames is that sellers are the ones that are in control. So in fact, let's do this here. Let me get my 30-minute equity future charts out. And we'll go take a look at those, since we know both of those are embarrassed positions. And let's go try to identify, see if we can identify patterns or maybe where support is that. So let's start off that way. We'll switch panels here. Momentarily, it'll be four white background charts that pop up on your screen. So here's what we know about the ES-mini. This formed wave number seven and arrangement of indicator bottom at 4.30 yesterday afternoon. That led to a rally that was kind of sideways from about 10 o'clock on last evening. And then what price has done this morning is prices formed a TD9 count bottom right while it's testing the support of yesterday's low of that Rhodes momentum indicator bottom pattern. And you also have another Rhodes momentum indicator bottom that completed as we came on the air at 8 o'clock. Now, here's the key for the ES-mini. If price can close above its oscillator and change line, that's at 40.99. Let's call it 4100. If price can close above 4100, we should see a move up to where the counter trend rallies would end. And where they would end is at the bottom or at the center, I should say of its bullish structured profile that it closed blur. We've seen that test already a couple of times today. One was at 5.30. The other was at 6 o'clock. So we know that that 41.12 area is a real key area of resistance for the ES-mini, at least for its 30 minute time frame. So two bottom patterns that are out here. It is suggesting that it wants to rally. But in order to do that, it's got to get above that red oscillator and change line. In the case of the NQ out here, there's certainly an A to B equal CD pattern that was confirmed by that big old bullish and golfing candle that formed yesterday at 4.30. But I think the release of Microsoft or Google or Chipotle or all of them at that stage, that's probably not having a significant impact inside the NQ. But what happened was, is price moved higher last night until 10 p.m. And that's when we had a TD9 count top pattern formed. It was the following bar, number nine. That set up that resistance level up at 12, 996.50. Now, with that TD9 count top, we've got price below its red oscillator and change line, below its profiles. Whereas the ES-mini shows a bottoming pattern, we don't have that same thing inside the NQ. Will the NQ take its cues, so to speak, from the ES-mini and the Dow equity future contract and the Russell 2000? I don't know. Here's where the real battle is at. The NQ is suggesting to you and I that what it may want to do is head down to the 1,200 level out there. But the Dow is saying, why would it want to do that, Stevie? I just gave you a TD9 count bottom, a Roadsman to Mindicator bottom, and what's cool about the Dow equity future contract is price is bounced right up into where it would give you a change in trend signal for its 30-minute timeframe. That change in trend signal is up at the 33,722. That is a TD9 count breakdown level. We talked about how the Dow equity future contract on its 30-minute basis has just formed a TD9 count and Roadsman to Mindicator bottom. And now we can say with certainty, we know we were taking a look at the ES-mini and say, hey, the oscillator change line is a key level of resistance. And it most certainly is. However, 33,722 is another number you want to have on your pad of paper. We get it close above 33,722. That's a signal that we should see a further rally. That further rally could take you all the way up to 33,978. I'm not saying that's where it's going to go, but I'm saying that is where the target would be if we get a close above 33,722. Now, what you sort of need to see here is synergy. You need to see the Dow taking out a resistance level while the ES-mini is doing the same and then obviously preferably the NQ as well. Now, the Russell 2000 has reconfirmed another Roadsman to Mindicator bottom. It's run into resistance. That's the top of its profile. That's at 1750-60. So a close above 1750-60 on a 30-minute basis is going to suggest to run to 1761-80. A close above 1761-80 and there's something more going on here. So that's the four equity future contracts for their 30-minute timeframes. And to summarize here, we've got confirmed bottoms in the ES, the Dow, and the Russell 2000, but we don't inside the NQ. And I'd really have to put together a weird A to B with CD pattern on a 30-minute chart to say that that's what's actually born inside the NQ. So who's going to be the one that's telling us and giving us the signal? Well, maybe we might find out by the end of today's show. Steve Roadsman, TFN, 877-927-6648 or 70 email Steve at TFN.com. If you're listening in between 8 and 9 in the morning, we'll be right back. 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 Kegstad's Tiger Forex report. Teddy Kegstad breaks down the Forex markets every Monday using his 30-plus years of experience as a trading veteran of futures, forex, stocks, and options. Teddy releases his weekly Tiger Forex report every Monday morning with coverage of all the major currency pairs, including the dollar index, the euro dollar, pound dollar, dollar Swiss, dollar yen, as well as many more. And he also has weekly coverage of the crude oil market and the 30-year t-bonds as they both influence forex markets tremendously. When you sign up for the Tiger Forex report, you also gain instant access to Teddy's 60-minute webinar archive he just hosted, forex strategies, and fundamentals. What is behind the Tiger Forex report? For all the details and to start your 30-day Tiger Forex report subscription today, visit the front page of TFN.com. TFN, educating investors. Are you looking for a way to consistently add winning trades to your portfolio? Tom O'Brien is here to help. Tom O'Brien has been successfully trading markets for over 30 years. 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For daily market overviews that give you direction on the key indices, selective stocks, and commodities, subscribe to the opening call newsletter at TFNN.com. The opening call newsletter is written by Basil Chapman, creator of the trading methodology known as the Chapman Wave. The Chapman Wave up-down sequence gives you an edge in identifying price turns. Finding the peaks and valleys in stock prices. Get the opening call newsletter by Basil Chapman in your inbox every day. First-time subscribers also get a 30-day money-back guarantee. If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up. TFNN.com. Educating investors. Levels or patterns to be watching and observing. First of all, actually there's three really that we can look at. So let's look at the very shortest term time frame. And that's the 15-minute chart here for the NQ. I'm going to go ahead and expand this out. So on a 15-minute basis, you can see that nice roads meant to mitigate our bottom pattern from yesterday. It's about 415. But here what I want to pay attention to is the TD9 count that just recently formed. So that took place at 8 o'clock and this is on again a 15-minute time frame chart that we're looking at. So that low is a really important low and that's at the 12, 885 level. There's a 15-minute close below that bar. Odd's favorite, we make it our way all the way back to the lows of yesterday. So that's why you want to pay attention to that TD9 count pattern. Right now what you have is price just consolidating with inside this 15-minute profile and a key resistance level areas here are 12, 9, 27, 12, 9, 43 and 12, 9, 76. That's where those battlegrounds are at inside the NQ. Now if price closes below that, you then have TD9 count patterns that form both on the 2-hour and the 5-hour chart out there. So those lows are really important. That low specifically, so write this down on a pad of paper, that is at 12, 8, 0, 6, even Steven. If we got a close below 12, 8, 0, 6, then Odd's favorite would come back to the daily time frame that where price is headed to is its bullish structured profile support area. And that's between 12, 705 and 12, 777. So again, take this one by one step by progressions out here. We're looking out to the downside. Before we're at the break, we were looking to the upside and what needed to take place out here. So the very first place that and I think would be the NQ that will lead us up, lead us down, which is why I'm kind of uncertain about that, those set of 30-minute charts out there. Here with regard to leading us down, price would first have to take out the TD9 count on the 15-minute chart from this morning. That would then signal we're likely headed lower, at least back to yesterday's lows, where we know we've got TD9 count, bottom patterns on the 120 and on the five-hour time frame. So that's what I would be looking at. Now let's take a quick peek here at the ESMini. So let's get those charts to fire up. And while those are firing up, I don't know if I can do this. I'm going to try to do this. Let's just take a look at the market breadth out here for the S&P 500. We're going to start with the ESMini. Now, market breadth as we speak right now for the ESMini for the S&P 500 is bearish for all four time frames that we monitor, weekly, daily, 240, and 60. Remember, the 30-minute was also bearish. Let's take a quick peek in on the NASDAQ and see where we're at here. In the case of the NASDAQ, it's a mixed bag, and the mix is coming really from the weekly chart, which is still bullish. And when I say bullish, I mean there's 26 instruments trading above profile, 25 below. So this is very close to a negative crossover as well. And I'd say if we get that negative crossover, combined with what's going on inside the S&P 500, the ESMini, we're headed lower. In the case of the NQ, likely back to those lows of yesterday or to that profile support level. Okay. So we've got that established. Now, we take a look at the ESMini charts. We closed below the bottom of its profile yesterday, unlike what we did inside the NQ. So what's that mean? Well, if we close below 41.18 today, that's an indication of a change in trend, and that we should have lower. Now, yesterday's one-day rate of change in the spot ballot index was 11.07%, I believe. But I do know it was above plus 10%. When you get spot-big index ratings above 10 plus 10%, you typically get a bouncer or bottom very next trading session. Well, we've already gotten the bounce. So we've seen that out there. That bounce may extend itself throughout the day. Here, what we can see on the intraday charts, we already covered the 30-minute that has that Rhodes-Mint Dominicator and TD9 count bottom signal. The 60-minute is trying to do the same. But it's got another 38 minutes left before we can get the call on that one. We don't have a bottom pattern per se inside the 15-minute, the 10-minute chart does have a Rhodes-Mint Dominicator bottom, and that suggests we moved to 41.08. So we've got one call in the ESMini to 41.08. I would say on the 30-minute chart, if price does close above that, I'll set a change on which is trading just above right now. We called it 4100. It's really at 40.99.82, but you can't get there. So we'll call it 4100. So a 30-minute close, we've got eight minutes, less than eight minutes before we get the 830 mark out there. You close above that, then 4108 becomes the target area. At least that's what visually sticks out to Stevie out here. We can see all kinds of oscillator unchanged resistance levels out there. Really not much else for me to report on here. Let's go take a look at the Dow Equity Future Contract. Let's go see what it is doing out here. So we'll pull that up, try to get whatever signals it might have. So this is populating here. Dow Equity Futures, as we speak right now, they're up 56 points. The high of the day so far for the Dow Equity Future Contract has been 33, 738, about 30 points higher than what we're trading right now. In the case of the Dow Equity Future Contract, much like the ESMini, it also closed below the bottom of its profile yesterday. So a second consecutive close below 33820 will signal a change in trend. Now as we take a look at the 5-hour timeframe chart out there, I don't have any kind of a bottom signal, we do on the 4-hour. The 4-hour, take that back. So the issue with the 4-hour chart, in order for bar number 9 to complete, and this does not complete until 10 o'clock, so it's possible, but in order for bar number 9 to complete, it must close below, this is at 10 o'clock. It must close below 33678, otherwise the pattern here goes away. The 2-hour chart does have a confirmed Roadsmen Dominicator signal. Price right now dealing with its profile resistance, which is at 33738. I'd write that down on my pad of paper. The other interday charts, each of them have bottoming patterns out here. So the next key resistance level for price to move higher, we said 33738, that came from the 120-minute chart. It's 33722, let me make sure. 33722. So 33722 is a key level that I've closed above on the 30-minute chart, says price could run all the way to 33978, but let's use that 33738 level. Let's use that 120-minute profile resistance area and if price closes above that, then we're looking at that move to the 33978, or at least that becomes a target. Now the cool thing here is because there's so many interday bottoming signals, what you know, what I know is that we get a close below today's low and it could be for whatever timeframe. Well, it's called the 15 or the 30-minute timeframe, but a close below 33583, that says that we had a lower out here inside the Dow equity future contract. So that's what we've got. We take a look at those instruments out there, spot ball analytics. So let's change over, take a look at the black background charts for a moment. Let's finish, take a look at the market conditions. So we've looked at Taz market breadth out there. That's not the only thing that provides us with a feel for what the markets are going to do. And this is where it gets a little bit complicated. Complicated because we take a look at that spot ball utility index. What price did yesterday as well as this morning is it has tested and rejected that 50-day exponential moving average. 1960 is the current print on that. I would expect that if we're entering a change in trend and bearish phase of the market out here, then what we're looking at is price would need to close above that 1960 level out there. Now that may take place today. And if it does, that combined with the ES and the Dow trading below the bottom of their daily profile, that just simply adds to that change in trend signal. Now the next level of support for the ES mini is out at the 4081 area. If you take a look at the very right hand, a bottom right hand panel chart out there, that's the ES mini that's using my synthetic version of the contract out there. And the reason I'm using that is because I can get those weekly profiles. We just rolled over really into the June contract. There's not enough data to really generate that. So 4081 would be the next level of support on the way down for the ES mini. The New York Stock Exchange, the Advanced Decline Oscillator, it is now below a zero threshold level. So this is in a bearish position, so to speak. But it's slightly bearish because that spot ball utility is still below that 50 day exponential in average. We'll be right back. 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Tfnn's Gold Report is available to all Tigers and Tigresses for just $1 for the year. market update chart we got some other requests out there as well from Dan inside the tiger center folks I would love to hear from you as well makes the show run nice and easy and gives you the information you're looking for and that information is ARWR that Dan is looking for so let's change over to those white background screens and we take a look at ARWR that is a trading well closed out I should say ARWR closed out yesterday at 33.58 and that was a nice gap to the upside that's confirming an A to B equals CD that's a gigantic volume day that it had yes you don't see it here but volume there was about 3.6 million shares as it took out a swing point that had one million shares and it closed above its TD9 cal breakdown resistance area so what I'll do on my other screen out here is I'm going to go ahead and draw in the A to B equals CD pattern out there Dan so I can give you a different price objective so the one to one gets you up to 38.42 but folks what I want you to notice is this C to D I'll just draw that in the C to D retracement here okay that's taking a look at of this whole A to B leg the C to D retracement was only a 25 percent retracement less than a 0.382 now I'm going to go ahead and usually I require I require the pattern basically requires about a 0.382 retracement we're going to go with this one here and what this should do Dan is this should do more than the one to one this should get us up into the so the one one is 38.42 1 to 1.272 target 4080 and 618 is 43.83 so knowing that knowing that we've got a nice road momentum and TD9 count bottom on the weekly basis what we also know is the next battle for you the next battle for it is 37.71 and 37.71 is the TD9 count breakdown level for the weekly time frame so Dan will close above that I'm not talking about this Friday not that you wouldn't like it to be this Friday but a close above 37.71 is going to be another Bose message for ARWR and that would then suggest that its next target area over time would take us up to 48.48 or 49.50 out there on the monthly chart the monthly chart says 38.41 is a resistance point that number is going to move higher as price moves higher so we're dealing with price targets around 38.42 38.41 37.71 nice confirmed A to B equal CD to the upside so all looks good Dano in ticker symbol ARWR that's Arrowhead Pharmaceuticals Dan is our pharma king inside the Tigris Den he's wired to it which is a beautiful thing let's take a look at the next request out here and that's for DocuSign DOCU DocuSign yesterday Dan formed or completed a TD9 count bottom so let me see where DocuSign is trading in the pre-market out here closed at 49.15 it's trading at 49.89 so Dan what we would suggest is when you do form a bottoming pattern a TD9 count is one of those that was the bar following bar number nine what price should do it should bounce up towards its oscillator and change that should actually tag that oscillator and change line that's at the 52.20 level that line is going to change up and down just a tad will change up as price moves higher so you get a nice weekly a daily TD9 count bottom whether price can take out that oscillator change line I don't know the weekly chart shows our prices testing breakout supported far 49.70 well we're no we're trading above that as we speak right now so that's a key level of sport that may in fact hold also and we know on the monthly timeframe price pulled all the way back to its breakout level of sport who would have believed that from all the way up at that 320 ish level all the way back to that 45.92 but that was the breakout level that's why we utilize those TD9 count patterns out here so to summarize docuSign you should get a bounce today you should get a bounce that takes us up to its daily oscillator and change line out there and then from there if it can get above that then we'd be looking at perhaps move up to 55.74 so that's what's going on with docuSign and thank you very much for the request Dan oh inside the Tigers that wants to take a look at meta so we can definitely take a look at that we'll look at all instruments out here um although I do have to close today's show I won't be able to do the very last segment it's like about a three or four minute segment out there I will not be able to do that at a doctor appointment I need to get to so here we've got meta and we take a look at meta close below the bottom of its profile yesterday as we speak right now meta is trading out at close at 207 trading at 211 211 44 so it's trying to regain uh its profile level so Dan oh the first thing is is if you're thinking of going short and so this where it's trading right now would be or could be the area right it's the bottom of that profile 211 34 we're 211 45 but here's the opposite side of that Dan oh if price closes above 211 34 it says yesterday's move lower was a false breakdown you know Stevie requires at least two days one yet wonders I love those songs but they don't typically produce the results that you're looking for out there and that would really be the case here inside of meadow so watch that 211 211 34 area if we look at the weekly time frame out here you have a new profile that is formed those profile levels out here Dan oh resistance 222 11 center of the box is 206 20 and 190 28 is the bottom out there we don't have a topping they don't really have a topping signal or pattern out here inside of uh inside of facebook that doesn't mean that i can't pull back and it won't pull back watch again a second close blow 211 34 Dan oh then that says 197 90 would be the target level the monthly chart is very bullish out there price is above profile and it's trading above its oscillator and change lines so on a 30 minute time frame so i think what you need to do you're looking at going short i'd i'd i'd i'd let this open up take a look at and i also kind of put this together with how the nq and the esr trading so hopefully uh dan oh what you did was you caught the opening of the show where we spent really that first and maybe second segment looking at the nq looking at the internet charts and providing with levels to watch the upside and to the downside in the case of meta it's going to generate on his 30 minute time frame i'm assuming it's going to generate because it's trading at 211 right now it's going to generate a bullish reversal can that's going to confirm a roge middendicator bottom and it's going to be trading above its 30 minute profile so this may have more to go that more to go could take you up to this gap okay so that could be that 211 we're already trading inside there so it have to be the bottom of the gap it's at 2 12 45 zero to a tf and n 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 tf and n dot com the opening call newsletter is written by basal 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 basal 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 tf and n dot 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 chau or chad directions daily csi 300 china a share bull and bear etfs china a shares in either direction visit direction investments dot 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 8664767523 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 sharpening your skills as an investor is like getting better at playing a musical instrument you have to practice sure but you also need excellent instruction from experts at tfnn you'll get advice and guidance from the authority and technical market analysis and it's not just dry tedious text either tfnn airs live financial content streamed live on tfnn.com and tfnn's youtube channel with tiger tv live every market day from 8 30 a.m to 4 p.m eastern for free each host is an experienced trader and gives their take on the market while taking calls and questions live from around the world from the moment the market opens until the closing bell sounds tiger tv has eight different shows with expert hosts to help you make the right moves with your money watch online at tfnn.com or on tfnn's youtube channel and become the investor you were born to be tfnn educating investors this program is brought to you by vista gold traded on the nyse american and tsx under the symbol vgz folks so the question that dan had inside the tiger's den is what doctor are you going to see is it the eye doctor and the reason he asked that was because he didn't really want to take a look at docusign he wanted to look at ticker symbol docn which is a digital ocean so we'll do that momentarily i just wanted to get back here to dano who's taking a look at potentially shorting meta facebook out here and i just want to make sure you put that together dano with regard to what's going on inside the equity future contracts here the 30-minute chart we look at for meta showed that that's likely going to form a roach mint and indicator bottom which is the same pattern that we have out here inside the es mini right now the russell 2000 as well as the dow equity future contract and right now you've got inside in the case of the nq it's trading above the top of its profile for its 30-minute time frame now of course it's only 843 but a close above 12941 at the nine o'clock hour is going to suggest that we could see a further rally with 13015 being the level for you to uh for you to take a look at so let's go to our first caller it is a mr z inside the tiger said john thanks for calling thanks for holding how are you this morning steve i'm very good thanks for doing this show early and your steve i wanted to follow up on something you've discussed in the past 15 minutes with a question please yes you showed a what i think you refer to it as a synthetic e mini s and p contract weekly charts yes and that chart is just a chart that you stitch you i think using your words you calling it stitching together previous previously expired e mini s and p contracts with occurrence to come up with with your objective of coming up with both daily and weekly past profiles yes steve um since oh goodness gracious since uh the end of march since yes the last week of march we had a nice squeeze rally new buying short covering into march 31st and subsequently the mini s and p the s and p cash index the sp y etf they've all just gone sideways and yesterday's break yes came down and held some uh i guess it would be the middle bar of your cash market profile work correct my my question to you is given that prices come down to that level the weekly profile if that level is broken and price holds below so if we get the combination of break and hold below what does that likely signify as you see it 38 79 so we're taking a look at the upper left hand panel folks so each of these here are the are the synthetic version of the future contracts and that allows me as john said to stitch together all the prior ones and provide better profile levels than if i use the continuous contract here so in the case of the espany john's question was very specific and that is if price closed below 40 81 which is the center of its bearish structure that's the real key here john why i immediately gave you the figure of 38 79 my experience is that when price closes below the center of a bearish structured profile that's the signal that sellers really have the upper hand and they should be able to push price back to support we have that same kind of pattern john inside the nq so if you look to the chart to your upper right now that's showing in tiger tv or inside the tiger's den you'll also see that that is a bearish structured profile so if on friday the es closed below 40 81 that says 38 79 is a target if the nq closed below 12 886 that says 11 9 60 becomes the target in the case of the dow equity future contract it's got a bullish structured weekly profile you can see that it's held trend line resistance and so i would say that if the es closed below its center line and the nq does simultaneous so that would signal to me that the dow would then pull back towards the 32903 or a bit lower to try to get to that rising trend line in the case of the russell 2000 geez who knows out here um you know i just watched the uh it's got a little bit of a trend line but that's what that does that answer your question right there please absolutely and thanks for doing that by the way but what i wanted to uh do was interrupt you rudely no ask you to elaborate uh on something you've just said i'm wondering and of course if i understand it correctly steve the generation or the scheme the calculation of the taz market profile data is dependent upon seeing both price and volume of a uh traded security and given that we can't get a taz market profile on a cash index that doesn't have volume associated with it but take the s and p cash index the s and p 500 we've got the spy etf sure which does have volume obviously my question is is the weekly taz profile that you can generate on the spy etf does that i'm not interested in the very specific data points but i'm wondering does the weekly taz profile give a similar message as the message given by your synthetic e-mini s and p futures contract the so great question and i put up those spy charts up on the screen so folks you can see the daily the weekly and the monthly charts out here and the only thing that the weekly chart offers us is it tells us that right now price is consolidated with inside its profile so it gives us profile support and resistance levels unlike the es mini weekly which we looked at john that was a bare structured profile this is more of a slightly bullish structured profile but with regard to the number on a weekly chart inside the spy on a further move lower that target would be 39807 and below that it would be the 38593 area out there and on a monthly chart we can see that we have profile supported 38573 so i say the 385 number would be a strong support area on a further pullback and i think you can get that message really by going back to those weekly equity future charts and using the center of those profile levels out there but that does that provide you with the information you were looking for yeah to my question precisely i thank you uh have a good rest of your day thanks again steve you bet that was john in philly out there and uh so um i don't recall i don't think we were really looking oh do cn i'm we get to that before i've got to bolt out of here to head to the doctor's office so do cn for um for dan i don't think we took a look at that we didn't yeah so here it is so no that's not it where did steve put it good lord that's not it i swore i put it out there okay so uh steve swears he did something there we go so we take a look at the do cn and do cn yesterday confirmed a a to b equal c to the downside big volume behind that move yesterday when i see big volume was 2.4 million shares it was taking out the b point that did volume of 1.9 million shares dan the one to one price projection out here is 2868 so i don't have that written in and we can see that you have breakout support at 2571 and we can see that on the weekly prices trading at its red oscillator and change line 3098 so you've got a confirmed a to b equal c to the downside i would say the price target is between 2571 and 2868 folks thanks for joining me here this morning i've got to take off but i'll be back with it the normal time tomorrow and have a wonderful wednesday folks and we'll see you again soon take care of them as a precious medal gold is still king it continues to hold the most effective safe 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powering higher even as the activation blizzard deal looks to get blocked by the uk you have google giving back almost all the games right let's jump over these socks as we come into the nine o'clock hour google shares up by 40 pennies but boy you want to talk about action man put it on a five minute they beat across the board last night but not exactly to the way that microsoft beat that's for sure man you spike up to an area of about 109 you did get a high of 110 60 on google shares and it was a slow crawl man by six o'clock last night you were barely positive by a dollar markets started trading lower this morning at about 10 at about six in the morning so i'm up at six in the morning i'm checking out google checking out microsoft big numbers from microsoft man we'll get into those during the nine o'clock hour 105 64 we had a 102 handle man google down almost two dollars from where they were last night what if they had missed right it's always remarkable expectations but boy you take a look at expectations okay this equity just traded from a price point in march of 90 bucks came into earnings at 105 so yeah all things considered you're trading right now at about 105 barely positive by 40 pennies on google shares microsoft different story you jump over to microsoft shares up almost 25 bucks look at this thing man catching a bid yet again and we got market tire as well you get the s&p up by 11 we're trading at 4104 far off the highs that we had yesterday of course with the sell off but check out microsoft man you're talking about a move from 275 up to 302 we're trading at 297 91 right now from microsoft shares you jump over to chipotle grill they are crushing it as well man chipotle up by almost 140 dollars on their numbers so decent numbers google maybe the canary in the coalmine tough tough reaction in the market for some pretty strong numbers stay tuned folks we'll be coming back for the nine o'clock update we'll come back for the morning market kickoff it's wednesday and markets in positive territory we right back