 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 afternoon from TFNN welcome to the June 26th the terrific Tuesday edition of today's Traders Edge show I'm your host TV 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 how about we have an extraordinary one yep let's go have an extraordinary day and of course the easiest way to do that it's to always remember that life is happening for us not to us that's where that 2x4 shift comes from because when we can make that 2x4 shift you know life happening to us instead it's happening for us it means we can find the gift in every single 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're gonna go figure out what the bulls and the 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 in right now 877-927-6648 if you can't dial in we've got you covered there too let those fingers do the walking send me an email steve at tfnn.com inside that subject heading please put radio show question of course our Tigers didn't any in every ping we'll do so let's go ahead get this show started on terrific Tuesday of course this is Tiger financial news network I'm Steve Rhodes welcome to less show right now the Dow down 115 points 26 611 is the print that's about four tenths of a percent to the downside six tenths of a percent to the downside of the S&P off 19 points NASDAQ 100 off 96 that's one and a quarter percent Russell 2000 down just a tad about three points out there some eyes off eight that's a half a percent so it's mean and red across the board spot follow till the X tradeout at 1625 that is traded above its 50 day exponential moving average we'll take a look at that and what the number is right now and what to look for at the close gold straight up six bucks silver down three pennies lights we crude up 14 cents lead the charge to the upside out here you've got Mesa labs up 21 bucks or 9% Boston beer Sam Adams up about 12 chipotle up 10 to the downside is Amazon no big deal 23 bucks the downside a little over 1% Google's up 23 that's 2% Shopify down 6% or 19 a buck a runes so let's begin by taking a look at the markets try to understand try to figure out try to gauge whether this is just your garden variety retracement or was this a top that we saw yesterday the day before or so forth so let's go try to figure that out first we take a look at the four indices out here let's start with the Dow the S&P the NASDAQ and then the Russell 2000 what we can see out here is the clear consolidating pattern especially we take a look at well now say especially but if we take a look at the Dow we've got the consolidation pattern we see that inside the S&P 500 in essence we see that inside the NDX 100 inside the Russell 2000 not the same thing but we do know that 1602 is a key level of resistance these are the monthly time frame charts that we're taking a look at now let's go take a look at a daily time frame chart let's begin by looking at the New York Stock Exchange and try to get the market breath the field of the market breath and what we see right now is we see a killer combo to the downside but I don't know if this is where the end of day readings will be and this is key it's an end of day reading we talked about this yesterday you need to see both what are both you need to see the New York Stock Exchange it's advanced decline oscillator reading close below zero right now it's minus 0.27 so it's basically on the zero number out here we do have the spotball of till next trade above its 50 day that number right now that print is 1573 we're trading at 1619 if the advanced client oscillator close below zero and the spotball of till next is over its 50 day expansion moving average what you should expect anticipate is a move up to about 1763 and the spot mix that'll go ahead and put pressure or should put pressure inside the New York Stock Exchange and continue to see that advance decline oscillator reading go down below zero now maybe where it's headed to is the minus 150 level that's the oversold reading whereas the plus 150 level which we have now seen a plus 150 failure out there it always says to be on guard when you see those plus 150 failures and the likelihood of the advanced client oscillator reading going to minus 150 if we see a close below zero is pretty good especially with that spotball of till next being above the 50 day so that's the first place or that's a place that's one place that you and I will look but what we can say is if this was 4pm instead of 111 in the afternoon all those subtle well I was going to say that but now you're looking at my screen you see a positive advance the client oscillator reading it's at 1.28 so here we would say it's a draw so it's really going to be the combination of both that you need to see in order to make a determination that just could be more than your guard variety type of retracement that is underway especially with price being up near the top of those consolidation levels let's go take a look at item number two item number two on Stevie's shopping list well that happens to be the TAS market profiles out here if we take a look at them I would say the TAS market profile that's more important day to each of us is going to be the NQ now that it's not that the ES and the ES and the Dow are both trying to form I can't guarantee in fact I will not guarantee that these are going to be the numbers well the same holds true for the NQ but they are the Stevie advanced Doppler warning system that we have employed here to identify what the markets what the message of the markets is what buyers and sellers are trying to communicate to you and I at 1.12 in the afternoon well here's the deal with regard to the yes many the resistance level now is 2969 the support level is 2881 I have reason to believe it's not 2881 but I'll let these market profiles go ahead and play out and figure this out it likely takes the next 24 hours but it could take longer but here's what we know if these profiles are cemented in stone well what we want to really be watching is the bottom of the NQ the bottom of that box is 7649 we've already tagged that level but we're trading just slightly above right now at 7660 so 7649 is a key number if we see the advanced decline oscillator in NYSE close below zero spotball utility index close above its 50 day NQ close below the bottom of its profile brand new profile 7649 and assuming that this is the profile that I see later this evening as well well then what we have is a change in trend signal or a deeper retracement now that's already been signaled to you and I by the Russell 2000 that is the panel on the very right hand portion of my screen because yesterday was a close below the bottom of its new profile that was 1539 we're trading at 1532 out here the Dow equity futures contract really there's no here's a deal as we take a look at his profile here's the here is the the the non here is the what do I want to say what word am I searching for I don't know what word I'm searching for here's the disconnect apparently that was the word I was searching for you could have a message where the NQ and the Russell 2000 which typically are the leaders of the gang would be signaling to you and I okay message is ready to take a deeper retracement but in the case the ES mini in the Dow equity futures contract that cannot be the case well it could be the case but it's not the case it can't be the case I said it can't be the case that means it can't be the case not until you see a close below the bottom of their profiles that's 26373 for the Dow and as we said 2881 but Stevie thinks it's a bit higher than that inside the ES mini Steve Rhodes with TFNN the doctor the doctor of love will be right back TFNN has put together the best lineup of live content for traders buy traders every market day featuring some of the most knowledgeable and respected minds in the business TFNN broadcasts five days a week live from 9 a.m. until 5 p.m. Eastern time we have live programming every market day during market hours every morning Larry Pezzavento kicks off the trading day live at 9 a.m. and breaks down the opening bell with trade what you see at 10 a.m. Tom and Tommy O'Brien host the TFNN bull bear trading hour followed at 11 a.m. by the team at TD Ameritrade and thinkorswim with fast market Basil Chapman host the Tiger technicians hour at noon Steve Rhodes at 1 p.m. with the traders edge Dave White at 2 p.m. 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lose don't let another day pass you by without trying out this amazing piece of software that will revolutionize how you look at the market and how you place treats sign up today call now toll-free at 1-877-927-6648 internationally at 727-873-7618 welcome back folks so earlier in the day and I posted a comment about the U.S. dollar index this is the September contract and what we can what we know it out here is the is the A to B equal CD pattern that was completing or was forming yes I can't say completing because we never know whether the C to D leg is going to be a one-to-one move or an expansion which is why when I go ahead and I use this tool you'll automatically see it show you the one-to-one price level which inside the U.S. dollar index was 95-44 the one-to-one point two seven two ninety four ninety four the way that you and I identify whether or not the pattern is complete is very simple the cavalry arrives in this case here with the U.S. dollar index making an A to B equal CD to the downside you're sitting there anticipating knowing knowing knowing full good and well that the U.S. dollar index is down around the one-to-one the level and so you're knowing you're out here you're looking for some type of bullish reversal signal that's what you have now today you have that today as long as the U.S. dollar index close to just one tick above it's open the open 9550 so anything above that would then generate a key reversal session out here this also happens to be a bull sash at the moment I don't know where the candle is going to close but what I can say is that today's action has exceeded yesterday's high and yesterday's low we're at an extended condition I'll say extended because we're completing the one-to-one level out here and then so this says that U.S. dollar index looks like it's getting ready to move higher or at least bounce down this is a Gartley by pattern by the way and if we take a look at look I don't want the I'm not cherry picking or anything here the A to B equal CD pattern if we take a look at it to the upside here's the A to B equal CD pattern that it completed it was a one-to-one level almost perfect 9771 was the number and here's your key reversal session by the way at the high on May 23rd hint hint hint hint key reversal session bearish a engulfing candle as well and price got up to 9771 now I don't know how the heck that works I just know that it does work so there it completes the perfect one-to-one A to B equal CD but more importantly you get that bearish reversal candle which has now led to the A to B equal CD to the downside now in the case of all Gartley patterns let me just go ahead and remove them we know the two that are out there each Gartley pattern has a five different potential outcomes out here that was the A to B equal CD that was not a good to the upside that was not a Gartley pattern but I do want to take a look at the potential Gartley by pattern that is forming now this way for those of you that track the U.S. dollar index you'll get a feel for what it is doing well one it has bottomed at this stage at least it's given us the bottoming signal that's assuming you get one tick higher today this would then say the U.S. dollar index is going to go ahead and bounce or should bounce to the point 382 retracement that would be 9226 the second level if it can get past that when it gets up to that level it should allow people off of the elevator that's normal and others may wish to get on where to ride it up to the point 618 retracement will be 9681 look you got to take things one day at a time one moment at a time but as we speak right now you've got the bullish reversal signal inside the U.S. dollar index out there now I'm going to try this I don't know if I should try this it really screwed up my system last time it's back up Maria asked me a question earlier with regard to where did I think the ES mini would actually pull back to and I gave her the number inside it gave everybody inside the Tigers 10 the first number of 2910 now where does 2910 come from it's going to come from two different places always like when two places give me the same number Maria because it just says oh really we should pay attention here so I had suggested to Maria that one of the places which would just be by the way inside the ES mini nothing more than your garden variety retracement here because no levels of support and I'm referring to the daily timeframe have broken but here what we can see when we put up the ES mini and we've got you know we go back to we got years we had 25 years worth of data here what you can see the blue horizontal line is the daily horizontal trading range number that's 2910 what Maria and I and now the entire world here at TFNN knows is that we've seen 39 opens or closes at that 2910 a level out there so that is the first place that I am looking for for support on this pullback inside the ES mini remember the ES mini and it's daily profile we were looking at and my other system was giving us a 2880 or something like that reading but I have two systems and unfortunately during contract rollover time periods which were in essence in while more data is being gathered out here you never should sometimes the two Twain's don't meet meaning that we have different levels out here and the different level here Maria on this chart which I think is especially during rollover seems to be a bit more accurate as new profiles are forming is 2910 that's a new bottom of box out there that's a black number at the bottom and then you have a 2918 steve's green line now look if the if price continues to pull back 2918 won't be the number on steve's green line but it's within this 2910 2918 is range out here that would become support close below that then that says okay you've got a change in trend and quite frankly the change in trend inside the ES mini out here and says that price could pull all the way back to the breakout or that's a red dashed line that gets us back to the June lows basically inside the ES mini but we have to take things one step at a time and by taking things one step at a time you did hear me say that the Russell 2000 you know was that wasn't pulling back that much if we take a look at the Russell 2000 here's what you and I know we did notice that it was trading below the bottom of its task market profile but what it's also doing right now is it's really testing this key level of support here so if you take a look at its key level being steve's red line but it was called 1531 we're trading at 1531 40 out here 15 yeah we're just going to stay with the 1531 number so a clear close below 1531 you wouldn't want to be long the Russell 2000 equity futures contract Russell 2000 industry because now what we would have is we would have two key levels of support failing and you've got steve's red line which on the daily chart is actually red right now that you can see other areas where it's green green as good red is bad when you close below it because as you have a falling price oscillator below zero and that too then brings the breakout area coming back to the trading session at the lows of June out here so June's not over it's only the 26 but these are the messages of the market that is the interesting thing because we don't have your traditional topping signals or topping of patterns out here can take for example the NQ if I pull this over the NQ right now is trading below the close of bar number three so what does that tell steve that tells steve it tells you it tells each of us that there's a TD set up nine count pattern that is apparently underway will will not be underway if at the day at the close today's closed in the NQ there's a close below 7702 so then that pattern goes away there's no way to be equal CD that I'm gonna draw out here because the retracement is just simply too shallow so but watch the price level of 7616 inside of the NQ that should be its next level that's one level of support the other levels out here well we'll go take a look at those we've got a caller on the line it's Brent in Martinez California Brent thanks for calling thanks for holding how are you thank you for taking the call steve how are you I'm very good thanks I'm always happy to hear from you and you want to talk gold so tell us what you're taking a look at how I can help you I've been waiting for a potential top in this I took a chance this morning about quits on the GLD it's working at the moment it looks like it's you know it's the account with moments of shooting star but it's one of the chief there the counts themselves and some of the things you look at might indicate that that's the case so Brent we're just about to go to a heartbreak I didn't realize that when I took it so to be pleased to be patient just hang on through this break listen to lovely commercial we'll be back and we're gonna hang out with Brent in Martinez California just a few if you haven't checked out the newsletters page of TFNN.com what are you waiting for all of the TFNN newsletters are informative up-to-date affordable and a must-have for every trader looking to gain a competitive informational edge in today's markets TFNN newsletters cover every aspect of the markets to offer you the very latest in market news plus new subscribers get to test drive our newsletters risk-free for 30 days from all aspects of the markets including stocks bonds metals commodities and tech there's a newsletter to fit your needs exclusively from TFNN stay informed each day you trade and get the competitive edge that will help you stay ahead of the game visit our newsletters page by going to TFNN.com and click the newsletters button near the top of the page TFNN.com educating investors 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 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information in a comfortable moderated atmosphere here all the TFNN shows plus see all the charts as they happen live and have access to archives of all those charts you can test drive the Tigers Den absolutely free for 30 days and greatly enrich your knowledge of these markets and how to make your money work for you details on the Tigers Den or on the front page of TFNN.com TFNN has launched our brand new website you can still visit us at the same TFNN.com URL but when you do you'll see a new and improved homepage with a much simpler navigation whether you're watching Tiger TV live in high definition or just accessing your newsletter subscriptions we even have new pricing in six months and yearly options check out the new TFNN.com now and experience all the upgrades TFNN.com educating investors 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 we're talking with Brent in Martinez California we're gonna take a look at gold out here I've got the current contract up on the screen and what Brent and I don't know is what the candle configuration is going to be at the end of the day right now it's not a shooting star before I went to break it was the reason why right now it's not is it simply because it's got too much wick at the bottom of that candle but you're asking about you know going short in essence we can see that there is a couple of patterns Brent that appear to be forming first if we consider that gold was trading in a consolidation with the consolidation high being February 20th out there at the 1361 level that price was tagged on June 14th and failed and then it was tagged again on the 19th and failed we know we've got a fairly good bottom with three connections down here those connections being April 23rd May 2nd and May 21st what that does folks is that gives us a measured move price projection which would be in the 1448 level we don't worry about getting to exact with it so far the high today 1442 out here so Brent there's one pattern that is out there that we want to be paying attention to the five hour time frame chart out here shows one of those roads momentum indicator tops as where price is moving higher doing less relative energy you got that bearish confirmation on the five hour time frame chart yesterday you've had follow through today in price trading below Stevie's green line which is 1425 so if this is a top and the five hour chart is what we're going to use right now to measure the depth of the retracement right now Brent you're watching the 1402 level 1402 is the top of the daily profile that could be support doesn't have to be you'd want to see a close below that if you do then our eyes would ship to the bottom of that five hour time frame it is possible that we get new profiles in the five hour time frame between now and whenever that might happen but right now we have to go with the numbers and those numbers would be 1402 as we talked about below that 1375 and finally where the breakout began which is not unusual for something to pull back to the breakout area and that breakout area is a price point of 1349 we find that breakout area on the five hour chart because of its TD set up count pattern that is out there so that's what I see when I take a look at that time frame if I look at an intraday chart here for the gold contract Brent I don't have any kind of a bottom out or a bottom out here I do have the topping signal which was price moving higher doing less relative energy so we had that in the five hour on the daily and this would say to keep our eyes glued to its breakout area now its breakout area took place at 11 o'clock in the morning this is on June 24 so this is yesterday and that low is 1408 60 so that would be a level that you would want to see broken through trade below to give you that continued momentum to the downside as far as the daily time frame chart and trying to show some type of topping signal we're gonna have to wait to see what tomorrow's trading is like what I mean by that is that today looks like it will be day number bar number eight of that TD set up nine count on the daily time frame and therefore bar number nine would have to occur tomorrow or could occur tomorrow and bar number nine would be in effect as long as there's a close above 1396 90 tomorrow so we'll know that for the most part you know by the end of tomorrow whether that was whether today's high was the top it could be tomorrow it could be Thursday or it could be not at all but Brent what I what I like about the what I like about the trade is that your your back is up against the wall so to speak not your back obviously but the back of gold and if we take a look at the primary trading ranges inside of gold on a weekly basis what we can see is this 1426 60 level was a key area that's the swing point that takes you back again on a weekly basis back to August 26 beginning of August 26 2013 and that that high also the high out there was 1434 which we've tagged so a move back to key resistance that is held for last six years give or take you're right up against that 1426 level out here so I definitely get and understand the trade if we were Brent if we were not just throw this out there and I want to get your input if we were to say that the GDX might be generating a signal for us and what we know is that this has already completed a TD set up 9 count it did that yesterday a slightly higher high today and and prices pulling back now it's first level to pull back to is going to be 2448 we've got to go look at profiles out here but right now that Stevie's Green Line 2448 and below that then price comes all the way back to its breakout area which is down from the trading system June around June 13th at the 2275 so anyone that's in the long trade my reminders just adjust your stop so that's what I see Brent when I take a look at the daily the weekly the five hour the 60 minute timeframe chart out there does any of that help you out absolutely Steve it always does we're kind of on the same page I mean I just try to pick a point that risk reward wise has you know yeah things in my you know best in my favor and I felt like this morning I had a decent chance I was willing to take a shot at it there's no doubt I mean the set up is there the setup is there it was either gonna work or not yeah yeah no look and that's what I that's what I love about the the trade that you took it's nice that you did it with options you know the I mean it's it's it's all it's it really all makes sense so price up a resistance and the cool thing is is you'll know soon enough like I would say you'll know by Friday if not sooner if if this was the it was the right move that it even if the trade doesn't work Brent right it was the right move yeah you just have to give it a shot and they don't all work we know that but try to give yourself the best chance and that's all I can do absolutely I didn't have a quick question for you before as I kind of sign off here it's I think you already might have looked at it yesterday I think Ruby asked about it I was looking at something that was potentially making a bottom that's natural gas I wasn't looking to trade out specifically but this there's some different stocks in that area that I have interest in and so I if you could maybe go over that one more time I'd appreciate it and catch the whole thing so yeah thank you so much for your gold analysis and you want that as much appreciated have a wonderful day and always appreciate your help my pleasure always good to talk to you that's Brent in Martinez California who is taking the short side of the gold contract and for all the reasons that you and I looked at so best of luck on that trade so let's go take a look at natural gas for Brent and Ruby and anybody else that might be interested in trading that I'm trying to get my other charred up things are pretty slow so I can see after the show here I'm gonna have to reboot everything I don't know what's going on but if you give me just a minute I'm at the D's I just got to get to the ends out here oh you know we've got a caller on the line let's go to Ron and Denver Ron thanks for calling thanks for holding how are you thank you Steve thank you for taking call sure my pleasure I bought some puts yesterday and it put spread on Tesla TSLA it had a declining moving average and seems like every time it bounces up it bounces up to that moving average and comes back and it looked like it would bounce against resistance and I just wondered how far do you think it could fall I just bought it till Friday got it okay so if we take a look at Tesla out here and we just start by looking at its TAS market profiles Ron let's start with that if we take a look at the daily timeframe that's the chart that's up on my screen right now support is 210 23 this is a bullet structured box and resistance at 229 I see we've got a break coming so I just stick with me Ron we come back we'll look at Tesla again provide you with all the information that you need this Steve Rhodes with TSL and we'll be right back it's amazing to think that Tom O'Brien started his weekly gold report 17 years ago with the first issue published April 7th 2002 when gold was trading at under $300 per ounce gold peaked at more than $1,900 in 2011 and after spending many years consolidating at lower prices gold may be poised for its next big run Tom O'Brien publishes his weekly gold report every Monday morning for subscribers consisting of coverage of the XAU, HUI, GDX, the dollar, bonds, South African Rand as well as 25 different mining equities with specific buy-sell recommendations as of April 1st of this year the gold report currently has eight active positions with an average unrealized profit of almost 8% for each open trade new subscribers get a 30-day money back guarantee so you have nothing to risk for all the details and to 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your copy of the art of timing the trade charts today by visiting TFNN.com don't forget you can listen to TFNN live on your mobile device 24 hours per day go to TFNN.com then hit watch Tiger TV for the latest to market information welcome back folks we're on the line with Ron and Jennifer we're taking a look at Tesla and so Ron here's the first thing I noticed during that break on the chart for Tesla and it's the weekly time frame that I am looking at and first the very first thing I noticed was a couple weeks ago this big key reversal bull sash candle out here on a weekly base this was the week of June 7th and at the time that it was doing that what Tesla was doing was making a longer term a move of a move a measured move coming all the way back to a prior swing point also happened to be an area where you had a TD set up nine count breakout pattern and so price held that from a weekly perspective right now price is trading above Stevie's red line that's at 2 17 40 and this would suggest to me on a weekly chart that price wants to continue to move higher so I'm looking at the bigger a slightly bigger picture than a daily first and if I look at the weekly time frame chart we can see the prices above the top of its box out there which was 2 16 20 so now from two different to chart patterns what we have our two confirming signals that Tesla wants to actually move higher whether it will or not it's a different story but right now it's up above resistance and you had that nice little bottoming signal I don't really have a clear weekly pattern so I'm looking at the don't really have a clear weekly pattern down there other than pulling back to support but pulling back to support is certainly something that we pay attention to now the current profile in the daily time frame that's a left-hand panel of my chart this profile formed above the prior profile meaning that the bottom of the current profile which is 2 10 23 was above the prior bottom and the top which is at 229 29 is above the prior top so if anything I think at this stage here the message is your downside on this is in the 2 10 area now to 10 happens to be another signal coming from its daily oscillator on change line which is 2 10 52 right now so I don't see a I see more of a move higher in Tesla then I do a move lower in but then now the trading range might just be sideways between 2 10 and 229 out here so that's what I see when I take a look at Tesla out there does that help or what am I missing what I got a small game here I'll just step out of it and play it safe because I didn't know where you know it did hit that support and bounce a little bit today it dropped off hit that support and bounce so maybe I'll just play if it didn't go through that support and you're talking about support of a moving average line that you're using yes yeah okay but which is fine you know if it bounced off again it kicked up against that moving average yesterday on mine okay that's why I put the put on yeah like it seems like gets up there and you know hits that and then what bounces down it did bounce down today but went down to support and bounce back up yeah I at this stage here you know okay I'd probably be more comfortable with the with the trade if I saw some clear topping signals in the markets I don't really need to kind of see what the end of the day is the weak link out here in the markets in essence has been the Russell 2000 and although it's not a moving average you know it's tagged Stevie's red line and is trading above it so in other words prices pulled back to a key support level all right you better take care yep take care that was run in Denver so back to natural gas out here and so let's go take a look at the I believe was a September contract that we had up in natural gas Brent and actually it's hard to see yesterday's candle I'm gonna pull over the continuous contract in essence is gonna generate the same message for you although slightly different what's that message well first of all price was moving lower doing less relative energy so you got the rose momentum indicator bottom signal yesterday when that bull sash candle formed and price also closed above Stevie's red line yesterday so that's a beautiful thing ordinarily what I would share with you is that price should go ahead and move up into it's a you know it's next daily profile well price on the on the September contract is trading below the bottom of that box which is 2.287 so you really need to see price close above that that's a bullish structured box to then suggest that price will go tag 2.373 but if we put up the other contract that is valid for trading right now thank you John in the den if we take a look at the August contract where are the profiles here this is what I'm waiting for to punch up on the screen see we're within profiles here different contract more information and so Brent what I'm going to suggest to you at this stage based upon yesterday's bullish reversal signal is that you should see natural gas trade up to first level is going to be 2.329 that's the center of its bear a structured box different than the box that we're looking at for September and above 2.32 2.413 that would be the top of that profile any close above 2.413 is a change in trend message so you got the bottoming signal the rose momentum indicator bottom now what you've got are some other levels of resistance that need to be dealt with as price continues to move higher so hope that helps you out with that trade let's go to a couple of our request by listeners out here sending emails the first coming from Rob Rob wants to take a look at and I'm gonna try to do this Rob I did this before this one my system kind of crashed out here it wasn't because of you it wasn't because of the system wasn't because of the symbol that you want which is new month maybe I didn't type in new month I just tripped in new and got a symbol out there but I know you want any M so let's go take a look at this Ron says Hey I've got a position a long position inside a new month I wanted my take on a price target an exit your initial target was around 42 that's to the upside been moving up your stop using the expansion using the average through range expansion of the 10 day that's that's what you got to do Rob that's that's the best thing that you can do out here but specifically take a look at new month let's come back and take a look at the three time frame charts out here new much one of these stocks has been around for a long time so we may be able to get we may be able to get some horizontal trading range that data out here for you so we're gonna we're gonna try that looks like Stevie's got to do a little bit of work on that with the minute to go let me come back to the three time frame profile here above daily above weekly headed above monthly quarterly resistance of 3946 out here now no bullish we are bearish reversal signal today if anything you had that nice gap to the upside gaps our friends on June 20th with volume 19.9 million shares but here's what I really think you want to do today it appears to me Rob and to peak D in the den that today's going to be day number eight of that TD setup nine count that says today's high could be the high maybe it's tomorrow maybe it is a day after for it to be tomorrow and for this count to take effect out here you need to see a close tomorrow above 3758 so you can just kind of note that on a pad of paper what happens when you get to a nine count does it automatically guarantee that you're gonna find a top or a bottom heavens to Betsy no but it is worth paying attention to how worth is it paying attention to well if you and I had been looking at Newmont on May 6 we would have said geez Louise you've got a road momentum indicator symbol going signal going price moving lower doing a less relative energy out there then you had a TD setup nine count that confirmed on that day then the next day you get the bull sash remember we were just looking at natural gas the bull sash reversal signal after roads went to indicator bottom this is how you buy bottoms never buy low never sell high sell tops and buy bottoms and this is how we do it this is how we do it so tomorrow could be so just keep moving your stops up as we speak just keep moving your stops up see roads with TFN but 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 is 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 timer digest also 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I'm always scouring the market for the next great trading opportunity. Sign up for your 30 day free trial to my daily newsletter market insights today by visiting the front page of TFN.com go get them folks. The path of least resistance is David White's daily trading newsletter and if you're looking for active trading ideas then now's a perfect time for a 30 day free trial to this powerful daily trading advisory service. David uses his years of trading experience to offer his subscribers his trading ideas each morning in his path of least resistance newsletter using a combination of equity trades along with options. David keeps his subscribers up to date with all pertinent market information with intraday afternoon updates when warranted. Don't miss out on this great chance to get a 30 day free trial to David's daily newsletter the path of least resistance with no obligation to pay anything. David has been delivering solid recommendations for his subscribers recently and if you'd like to see the type of newsletter he delivers every morning then visit the front page of TFNN and you'll find the path of least resistance under trading newsletters for all the details and to start your 30 day free trial today log on to tfnn.com now. This is David White stay tuned because coming up next is the power trading hour right here on TFNN. I just want to go back to Rob's question he was asking about Newmont and another reason to really continue to move those stops. Rob I know you're using the 1.618 expansion I think I switched to the 1.272 out here or maybe even less if we take a look at where just using just using these tools same tools that we use over and over and over again if we use them enough and you see how they work you might say to yourself something to think about maybe I should even go take one of Stevie's courses out there in any event out here we would have said coming off of the bottom that where Newmont was headed to was the price point the first price point where it broke down back on July 27, 2018 out at 3863 3860 I can extend this green line I don't need to for our purposes but we know that price hit that level and that's a reason to be tightening up your stop out there inside of Newmont mining. Another question coming in here from Hector the fuel injector Hector wants to take a look at harmony and Hector's question says hey Stevo happy taco and thirsty Tuesday back at you. Harmony today HMY's candle looks like a change of direction what do you think? So it is certainly a key reversal session it is coming and this will be a TD set up nine count out here so the answer is yes what does this say? Hector this says that price should first pull back to 206 below 206 there may be something else going on a deeper retracement let's go take a look at harmony let's put that up here instead of Newmont HMY's ticker symbol so you've got one level where price should pull back to here we've got a 205 so 206 205 is very key level out here because 205 is the top of the box 206 DB's red line and a close below that says you'd be looking at about 183 on a pullback so yes you've got a TD set up nine count bearish reversal candle and so just simply trade accordingly am I saying the short the mining equities out here no I did not say that I did not say that we need to see more than just today's action to be able to confirm that speaking about today's action folks stay tuned because your favorite polar bear the world's favorite polar bear my favorite polar bear David Whitey's up next and an Obi-Wan Kenobi he'll finish things off from three to five have a great Tuesday we'll see you on wonderful Wednesday