 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 day folks welcome to the January 27th a terrific Thursday edition of today's Trader's 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 and let's make sure we have an extraordinary one and the easiest way to do that Well, it's to always remember that life is happening for us not to us That's right when you and I make that one little two-by-four ship Well 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 with those bowls and bears with those buyers and sellers are communicating to you and I just passed Eight o'clock in the morning. That's right. Yeah, we're recording all the shows this week between eight and nine So if you're our listening in at the one o'clock time frame, thanks much for doing so We're gonna try to make this show as pertinent as we can for you But if you are listening live, we would love to hear from you So you can give us call it 877-927-6648 if you can't call in but you're listening between eight nine And would like me to take a look at something just go ahead and send me an email Send it to Steve at tfnn.com and inside the subject And if you'd be kind enough to put radio show question, of course in our tigers then will any and every ping We'll do so let's go ahead and get this show started on terrific Thursday Of course, this is tiger financial news network. I'm Steve Rhodes. Welcome to let's show right now We've got US equity futures pointing higher the Dow is up by 44 points and Aztec 190 That's about six tenths of a cent the S&P 16 and the Russell's up five If we take a look at what went on overseas last night It was a sea of red in Asia the Shanghai down one and seven tenths percent That's 64 points the Nikkei three percent to the downside 841 points there two percent for the hang saying that's 482 points over in Australia the S&P 200 there one and seven tenths percent 123 the Dax in Germany right now is off 15 points and the footsie is up 52 We take a look at gold. She's right now to 1906 It's testing the bottom of its bullish structure daily profile I believe silver trade now to 23 oh three out there We take a look at the 30 year Treasury out 14 takes train at 154 and a quarter and the US dollar index It's on a roll. It's up by what's up 10 minutes delay. Yeah, they're 97 10 out there It's up by seven tenths of a percent. So what do we want to begin? I tell you where we should begin Let's deal with the we had the the Fed announcement yesterday with regard to what they're thinking or doing out there and in most people believe Most people believe that the pullback that we've seen in the markets is because of the Fed Because of the Fed deciding that it's going to eventually raise interest rates. Are you in that camp? Well, let me tell you what camp you should be in it's called the camp of facts out here and the camp of facts say I don't know where people get that information from or I do know whether I know I know where they don't get the information from They don't get the information from a looking back at stock chart patterns out here so the very bottom panel of this screen is the there's a Fed discount rate and Which right now is left unchanged at point two five out there and the top portion is the Dow now What I want you to take like is go back in that 2003 we saw interest rates rise What do we see take place inside the Dow? Do we see it actually tank and move to the south with higher interest rates now? Yeah, let's not 2003 that was light years ago. So let's not focus on 2003. How about let's come to 2016 the Fed began raising rates in 2016 what did the market do? You can take a look at the blue arrow. It went to the upside So the mere fact that people believe that because we're raising interest rates that the market is going to tank They clearly just want to ignore history now I'm not saying that patterns can't change because certainly they can but let's just look at the factual information It's right in front of us. You tell me is the threat of raising interest rates going to tank the market Is that what's going on? Well, I would say factually the answer there is no so good. We get to start there So then so where do we go from here? Let's I don't need to save that. So don't say there we go. Okay What the heck is going on here? Okay, so now let's go back to the market So we know that the market's moving lower Really is or look if it's being driven because of that the threat of rising interest rates If that's the only thing then what we need to do is go out there and find bottoms, right? It's the market making about now each of us know that the market did generate bottom signal on Monday that big huge day to the Downside back to the upside the reason that we know that is because some of the patterns that you and I trade are the a to b Equal CD patterns and what you and I do What you and I know is that the pattern the a to b equal CD patterns not going to complete until you get a Bullish reversal candle. Here's the a to b equal CD on the ES mini effect Let's just simply expand this out So we're all only looking at the exact same chart out here and see what we know because there's is new information for me to Be able to report to you this morning So here's the a to b equal CD pattern the one-to-one level is at 4,504 Is that the place where you should have bought just simply by the d-point the one-to-one area? Absolutely positively not Why because you want the cavalry to arrive to tell us That they're attempting at least to form a bottom out here If you don't get to the one-to-one if you don't see that the one-to-one levels Has price going to go target the 1.272 area that was 44 39 Do we get a bullish reversal candle there? No, we didn't where to price go to the 1.618 layer area Do we get a bullish reversal candle there? Not technically price made it down to the one-to-two level That's when that bullish hammer candle That's just a candle session right here from January 24th form that completed a Gartley by pattern in a Gartley pattern What you're looking for is an a to b equal CD to the downside that completes That gives you that completion signal in a market where there is an uptrend that would be considered This would be a considered a Gartley by now It could be that what we really have out here is just a good old-fashioned Consolidation because what the ESMini has done is simply got back to the October lows those have held and And we know that at the top we have kind of you know a double topping So this could be a very large consolidation could be not saying that that's but it's a pattern that is present right now As we both take as we all take a look at it So we've got the completed a to b equal CD to the downside We got the reaction to the sell-off yesterday now was that fed driven or was it driven by something else? I believe it was driven by something else, but we're not going to go into it at this stage out here But nonetheless it just stick with the patterns that are in play because this show is really all about patterns that we look at Each and every day each every afternoon or morning and so what we now have here what we didn't have yesterday We didn't have it until 6 0 1 last evening is other than the support of the bullish hammer candle Which is plenty and that's fine, and that's that by the way that low is 42 12 75 if we do see a close below 42 12 75 we have an expression Which is if you're long you're wrong and that's when you close below a hammer candle and that would then say we'd have Lower price we can take a look at where those lower prices might be out here But right now we're dealing with the fact that we have a bottoming signal and we now have a new profile that is forming Is bullish and structure it has changed a couple of different. I'm gonna get rid of the a to b equal CD pattern out here So let's not believe her that so now you can clearly see the bullish structured daily profile And where price found support this morning it got down to a low of 42 63 the bottom that profile is 42 58 perfect now With regard to bullish structured profiles and the opposite would be true for a bear structured profile If price is able to close above the center of that level that's at 43 96 That then is going to suggest because at the center of the profile is where both buyers and sellers reside They believe there's fair value in this range of 42 58 to 46 25 and if buyers can push it up above 43 96 They should be able to make a run up to the 46 25 level But there is a pit stop at least in between then and now we come back for this break We'll go take a look that Right back What's separating you from the most successful men and women on wall street? 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Watch online at tfnn.com or on tfnn's youtube channel And become the investor you were born to be tfnn educating investors Call now toll free at 1-877-927-6648 internationally at 727-873-7618 Welcome back folks so we're taking a look at the daily es mini out there take a look at the new profile by the way This new profile that's attempting to form will not be confirmed until this evening So it could change positions could change positions during the day But right now we do know where buyers and sellers are lined up The buyers are the support levels at 40 to 58 and the sellers are lined up at 46 25 Now i've mentioned that price if price is able to close above the center and right now that's not a condition That's present. It might be at 118 in the afternoon. So you're going to want to understand. Where's the es mini trading? Is a trading above 43 97 we'll call it and if it is Then the next move is not to 46 25 the next move is to 44 72. What do you mean stevo? Let me just pull over this white background chart here. This is a daily time frame And the reason that I say 44 72 or thereabouts is because that's the oscillator and change line the oscillator and change line When it changes colors, which it did on the trading day of looks like january 19th What we typically see Is price and that line catch up to each other? You would really see that when do you typically see that stevo? You will you typically see that when you get some type of bottoming pattern? Well, we know that we've got that with that bullish hammer candle the gertly buy pattern or the buy the d-point whichever way you like to Take a look at it and term it And so this then suggests that we should see and move up to that 44 72 level now Look as price moves higher or lower that number is going to change. So that's just a A general idea now if price is able to get up to that level 44 72 And rejects it that would be the next place to put on a short position If price closes about 44 72 Well, then the message would be where would be the next place to put on the short position Or what would the market be communicating to us the market then would be communicating to us that as long as this profile remains An effect out here the price will then go target the 46 25 level if you ask me which the area I would prefer to short i'd say 46 25 but We have to take things one step at a time out here now So the es mini and let me just do this here. So we really have kind of the same patterns that are going on But with regard to new information the new information is from the es and inside the nq the nq also Attempting to form a new profile now Let me do this here I'm going to so you can see the a to b equal cd to the downside makes a 1.1 point 1.272 expansion forms that bullish chamber candle on the same day that was on monday end of 24th Now what i'm going to do here is i'm going to turn off the a to b equal cd pattern We don't need to believe the labor that and now when i do that you can clearly see well Let me just turn off price. I'll make it even more clear for you to see again remember this profile Does will not be confirmed until this evening the reason won't be confirmed is because i'm using steve's super doppler tool that tries to seek out profiles As they are beginning to form out here And so now you can see that bullish structure profile supported 3,900 Resistance at 14 874 and we're both buyers and sellers believe there's fair value within side this range that 14 0 95 If price is able to close today about 14 0 95 the signal that's being generated for you and i's that it wants to make a run for that 14 874 level but like the es mini It also has a has to deal with its oscillator and change line now It doesn't really have to do perform its test. What do you mean by that steve? Well, what i mean here is if we take a look remember I've shared with you that when the oscillator and change line changes colors what we're looking for is information and that information is what happens when price Test that oh you well And here if we take a look at the nq It actually formed an a to b equal cd to the downside with this bullish hammer candle the one that formed here on january 10th That then took price right up to that red oscillator and change line That was really the sell signal out there because that was telling us we had a falling price oscillator below zero That is a bearish pattern We didn't know whether or not the bottom of the profile would hold but certainly once that bottom of the hammer candle gave way Then it was a move to the downside remember you close below the bottom of a hammer candle The expression is really expression. I like to use is if you are long you are wrong out here So because that test has already taken place with regard to the oscillator and change line Really the nq doesn't have to move up there But if the es mini is uh in all the markets do decide to rally here and I believe that they will Um We may see an early morning flush, but I do believe at this stage here. We're likely to see this rally and fold Out here and so for the nq the area of the level you want to be watching If if i'm correct with regard to the rally unfolding out here is a move to 146 94 ish or so That's the oscillator change line if price able to close above its oscillator and change line Then what we'd be looking at is the signal for a move up to that 14874 level now That's assuming again that this profile remains in place out here So you've got two new profiles attempting to form tomorrow morning when we're together We'll know whether they have taken effect or not if your newsletter subscriber Hopefully you'll know by this evening out here now the dow and the russell 2000 their profiles have already completed They've already confirmed and so in the case of the dow as I mentioned yesterday It's the third largest profile in relation to points from top to bottom That has formed since 2007 Why'd you stop in 2007 because that's as far back as I look that was plenty enough data out there And so what you're watching for inside the dow Is a move to the 33 30 74 level that's the center of its bowler structured profile and they closed above that Yes, they was tested it was rejected a close above that is hanging the signal It's intent to try for the 360 54 level Like the es It also had a recent change of color That had not been tested Excuse me So the first area that it would need to then take out to suggest that huge move higher Is it approximately the 34 778 level remember as price moves higher that number will move higher Um, I don't know by how many points, but uh, you know, I do like 34 77 because I like those james bond movies out The way I say 777 that's not that's that's that's that I was thinking the one-armed bandit out here And uh, so that's where so that's what you should be looking at whether it's at 8 24 in the morning Or whether it's 124 in the afternoon or certainly the close at the end of the day Now in the case of the dow equity future contract, if you wait for a close above the center of its profile, uh, which is at, um 34 374 In the oscillator change size 34 782 that's not really a great reward risk trade out there But at least in helping you interpret the markets and what its intent is That's what's going to be helpful to you now in the case of the russell 2000 just to finish off the equity future contracts out here It has an a to b equal cd to the downside. It also has a td nine count bottom here Let me show you those patterns out here We'll pull this in there. So you've got two patterns two bottoming patterns That is just having two bottoming patterns make it more likely of a bottom than having one or just three better than two I don't know the answer to that And what I do know is that you've got bottoming signals now in the case of the russell yesterday It generated for us a bearish message out here now the profiles that I have on my White background charts ninja trader are slightly different than the ones that you just saw in the black background chart Both are really helpful to us and what took place, uh Yesterday, so yeah, this is today already. Yeah, okay And what took place yesterday is price tested and rejected that red oscillator and changeline Again a bearish message But on the white background charts what price did was it pulled back in the test at the bottom of its profile, which is 1953 So the bother profile in the white background charts is 1953 the back black background charts is at 1982 Which one is correct? They're both correct out here. We got to use them both So ideally if you see a close back above 1982 we're trading 1982 basically as we speak right now What you should at least then see is move up to the oscillator and change line It is currently printed at 2031 So the russell 2000 is likely where you would get the most amount of information For a further rally because what it generated for us yesterday Is a bearish message, but right now we're going to say some and support is held Whether the bottom of the profile on the white background charts or the black background charts is correct What held was the bull sash candle bar number eight of a td9 count and that low is 1925 20 That's what price has to close below to suggest low price out But our price is able to close above 2031. That suggests that the rally is on If you roll into a tfn 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 A frequent contributor to TD Ameritrade Network and CNBC Tom O'Brien founded tfnn over 20 years ago to help educate investors just like you Tom's daily market newsletter market insights is published every morning when the market's open to give you the competitive informational edge you need to succeed These newsletters are packed full of tom's advanced technical analysis And are geared to deliver comprehensive strategies for a successful portfolio Get tom o'Brien's newsletter market insights today and try all of our products and newsletters 30 days risk-free with our money back guarantee at tfnn.com tfn educating investors You could be making money off the stock market and if you're already making money off the stock market You could be making a lot more Check out tfn and tiger tv and get expert investing advice to give you the power to control your financial future Go to tfn.com and find the newsletter for you Whether you're into trading gold metals futures currencies or options You'll get advice and analysis to help you seriously get ahead tfn also features trading services with a 30 day money back guarantee for new subscribers As well as tfn and tiger den trading room trading software and educational webinars for all trading levels And make sure you check out tiger tv for free on tfn.com or tfn's youtube channel for live financial content From 8 30 a.m. To 4 p.m. Eastern on market days Stop watching on the sidelines while other people get rich and become the investor. You were born to be tfn educating investors tfn is excited about our new software charting program the art of timing the trade charts In collaboration with tom o'Brien and using his best-selling book the art of timing the trade your ultimate trading mastery system David white has programmed an outstanding piece of software that will complement any trader's methodology Using this first-of-its-kind program the art of timing the trade charts allows you to scan thousands of stocks for Fibonacci formation setups including guardleaf abc's butterflies and much more The art of timing the trade charts is designed to help you when scouring the markets for stocks Just beginning to form the trading patterns that many investors spend days weeks or even months Searching to find and right now we're offering licenses available at only 79 dollars a month We are so confident that you're going to love this new charting software That will even give you a 30-day unconditional money-back guarantee Don't miss out on this incredible new piece of software Get your copy of the art of timing the trade charts today by visiting tfn n dot com Folks so we've got a great question inside the tiger's den It's uh from ruby and she's asking about the e s mini on a weekly time frame out here So that's your upper right hand panel chart out here. I'm not going to expand it out at the moment Because oh and her question is basically this if you take a look at the retracement from low to high So we're looking at the 2020 low out here Which in the e s mini was 20 109 and a quarter up to its high The high from a january 3rd the week that began january 3rd 4808 in in 25 the retracement level so far Is is just above slightly just above a 0.236 retracement and her question is Isn't that a bullish signal for the market not being able to even do a 0.382 retracement Let alone get to the 0.618 area and ordinarily I would say the answer would be yes out here In the reason I would say ordinarily and so we can see the 0.236 levels at 41 71 out here 0.382 3777 So I'd say yeah, that's a that's a conclusion that you can absolutely draw out there But the I think the other conclusion or something to really consider out here Is that last week what we saw inside of the e s mini was a change in trend signal The change in trend signal ruby just take yourself back to february of 2020 out here And the week of february 24th, we saw a close below the bottom of that profile What we've seen since the march 2020 bottom is every pullback has found support at the bottom of the weekly profiles Those have been from a weekly perspective the by the you know deep the by the dip out there So if we get it closed this week below 45 49 25 out there What it's really signaling to you and I I believe is that the move lower is not done That doesn't mean that we don't have nice counter trend rallies. In fact, you could have a gigantic Counter trend rally out here just simply from a profiles perspective if you look at the dow Here if we expand out the dow it could get to Of course, it could do anything at once but just simply from a technical standpoint It could get all the way up to 360 54 The top of that profile I'm not saying that's where it's going right now because we don't have that signal out there But coming back to your question. Yes, I understand exactly what you're looking at But that would then also mean that what I would have to do or we would have to do is ignore the fact that a key Level of support that since march of 2020 has always been the by the dip And we don't have that right now. And so therefore I think longer term what this is telling us is we're not done Heading lower out there. So hope that helps in answering that question out there If not just type something else in the in the den chat and we'll we'll get to that you're you're welcome So let's go to our first caller. It's brent and martin is california brent. Thanks much for joining us at 5 32 in the morning How are you doing? I'm doing great. Steve. How are you today? Excellent always good to hear your voice And so goldilocks is where you and I are going to spend some time Um, I've got up the four core charts out here daily weekly monthly and quarterly So how can I best help you? I'd first like to thank you for what you just went through with all the you know equity features And all the different levels to be watching and I was feverishly Jotting all those numbers down. So thanks for that. Good. Good. Good. And then Okay, I wasn't dyslexic My question on gold is I know you had a levels around like in the 1830s It didn't hold. So is this now just kind of more bearish or is there any Hope for this, you know, I guess even on a shorter term to maybe Find some kind of bottom Sure. So if we take a look at the gold now, we'll just begin with these charts here Um, I'm in at the moment. I'm trying to get over to my other gold charts as well So we can take a look at them and try to answer these questions So what you and I know right now is that price is testing It's trading just slightly below the bottom of its bullish structured profile and that's at 1808 30 We're trading at 1806 right now. So if at the end of the day, so I wouldn't be surprised to see gold hold That 1808 30 level, but we're going to go take we got to go really take a look at the intraday charts here because price has moved lower since Since I I put together the the newsletter this morning But price is trading both into that support level Brent and the an arising trend line So I would answer the the question this way if it was a question, which is a close below 1808 30 today Would then open up the door to a move to 1763 or 1790 And now all I'm doing folks is I'm just take a look at the support and resistance levels for the daily and the weekly time frame Be closed below the bottom of a weekly a daily profile and then go to the next time frame higher That obviously is weekly and then I would go from weekly to monthly and so forth So I don't think we have a uh the information yet to let us know whether this is going to hold or not But it's up against two levels of support And as I say if it does close below those odds favorite move to the 1790 1763 level So Brent before we move off of these charts here What questions do oh, and I don't know if you're gonna are you are you able to see the charts in tiger tv? Yes, I am steve. Okay. Perfect. Okay. So is there any questions that you have about these or something else that you see that we should look at I guess from a trading standpoint For you if you would want to see kind of the close for the day Is that what you would do before or if you saw enough of a rebound off of that level? Then you would try to make your a long trade or what would what would be your trading strategy? Absolutely. So great question. Thank you for asking it It would really be Knowing that we're into a strong area of support if I could see some bottoming signals on the intraday time frames That would be my signal And so if we take a look we just start with the 30 minute chart out here We don't have a bottom signal yet. We did about an hour and a half ago It was a bullish hammer hammer candle that uh formed at seven o'clock And that was confirming a roadsman to indicator signal but price is now below that So we know right now and it would still stretch it still has those roadsman to indicator signals I would need to see another bullish reversal candle Now what we also know is that the key level of resistance here from a 30 minute standpoint Brent is at 18 12 50 So you'd really want to see price close above that but to really get a determination Of that low holding and it being a and it being a good low a solid low out here Is a close above 18 16 10 And 18 16 10 is the td9 count breakdown resistance level And if we take a look at what transpired here overnight during the early this morning We did have gold rally right up to that level and fail. So 18 16 10 Is really going to be a key level for you to observe. I would say Brent if price closes above that Then we're rally on and rally on perhaps to take us back to the 18 33 or maybe higher than that So and I'll just expand out the 30 minute chart here Any questions about this chart or what what we've discussed there? No, that's great. Steve. Thanks for providing those numbers. Okay, perfect. So everybody you're 18 16 10 Is the key level? So if you're watching the show at at 130 70 afternoon and price is trading above that Then gold is likely to rally further now Brent as we take a look at the 60 the 120 the 240 the 5 hour time frame chart The only potential bottoming signal that is present at the moment is on the 240 minute chart And that is in bar number nine of a td9 count now What we know is that the low conform on bars number nine, which does not complete until 10 o'clock That makes that 30 minute chart more valuable to you Um, but then the next four hour chart would be two o'clock this afternoon because the low can form On the bar following bar number nine So how I would be putting this together here, uh, Brent if you had if you had these patterns that you were watching I would be again be focused on that 30 minute chart looking for the bottoming signal out there Any questions about these charts? Now that's great. Steve. Thank you. Okay, perfect. So I've answered your questions with regard to gold You have yeah, I mean it varies always always very thoroughly With all the numbers I wanted. Yeah, I could answer more Perfect. So the last thing that we'll do here folks before we uh before we let Brent go back to sleep out there Yeah, so go take a look at those Take a look at those black background charts and the black background chart We're looking at here is just trying to understand what is gold doing in the major currencies And as we speak right now gold's trading lower in terms of dollars Gold is lower in terms of euros gold is lower in terms of yen Gold is lower in terms of pounds. So the sellers right now, Brent. They have the upper hand But again, it closed about 18 16 10 they will have lost that upper hand So Brent, thanks much for calling and uh, we'll look forward to speaking to you again soon All right. Thank you so much. Steve. Have a great day and a great weekend. You bet She roads with tfn folks will be back in just a few moments Are you having fun trading the markets? 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That's tfnn.com then hit watch tiger tv Welcome back up folks. We're recording the show today and again tomorrow between eight nine If you're listening live, we'd love to hear from you. You can give us a call eight seven seven nine two seven Six six four eight right now. We've got all the u.s. Equity futures are pointed a bit higher That was up about 90 points the nasdaq 104 S&P 23 and the russles up nine So let's get to some of the questions that have come in The first one coming in from hector and the fuel injection by the way before we get hectors a question out there Microsoft had staged a really nice move didn't they yesterday? And of course and this this just shows you the importance of those market profiles. Where did price find resistance? Right at the bottom of that profile once you close below that old support can become new resistance That's what we've got So what you're going to watch in the case of microsoft clearly Even though this was not what was called about is 308 16 level if price able to close above that Where's going to price head to next boy? That was a wonderful question wasn't it? 350 9 and above that 320 202 but right now what you know is that microsoft's rally yesterday And then the sell-off is priced went right to the level of Resistance the bottom of that profile. All right now. Let's get to the question the first one coming in from hector and patty and what hector and patty want to take a look at is uh amt american tower out here, so let's get that up on the screen and the question is Yeah, we will have time to do two of these instruments out here. So amt and pld are backing down Patiently waiting to buy the bullish turnaround a to b equals cd points out there Okay, so i've got the i've got the gist of it. So if we take a look at amt Out here american tower. Here's the a to b equals cd pattern that hector is taking a look Let's just simply go right to the white background charts right now Well, I will say this or where price ran into resistance yesterday hector and patty is a 253 86 253 86 happens to be the top of that daily profile. Now the bottom is a 243 25 and you close just below But you're back inside this swing point that formed out here a couple of days ago This was the monday swing point that had volume there of 2.7 million shares just so you pulled back into a lighter volume 2.3 million shares Okay, now let's get to the white background chart. So with regard to the buy the d point That's the daily type frame that we're looking at you already have that signal You have that signal because you have that bullish candle So that january 24th candle was a bullish piercing candle And again, you've got this slightly bullish structure profile price did close below that But you do have your signal now Because you've waited this far and because you know that 253 86 is resistance here And you're looking at this for more of a longer term position. I would just wait Well, you get two choices you can buy it right here I don't know what to straighten out in the pre market or you can wait for a close above 253 86 To give you a suggestion that a key level of resistance has at least failed. That's what the daily chart tells us What's the weekly chart tell us? Weekly chart says uh, man Hector and patty you really should see a close above 249 44 tomorrow Because if you don't price is broken through a key level of support It's breakdown area and that could be suggested to move back to its march lows out here Which is in the 200 range on a monthly basis. You've got a confirmed roadsman to indicator top. So Here's the bullish side. Here's the bearish side The bullish side is prices pulled back on a monthly basis into the support level The support level because it's bullish and structure is between 229 37 and 239 99 So the monthly is saying, okay, we're back at support. That's good Still have the topping signal But whatever you get a topping signal all that really indicates to you and I's price should make its way back to support Levels and there can be multiple support levels and if you listen to this show, you know that in fact there are So the daily so here's how I would trade it knowing that knowing all this information out here Hector it would still be a close above 253 86 would be your buy point Oh, it would be a signal that this is likely to continue to head higher out there clearly on a Like it has a potential on a yearly basis to have a td9 count top out there But let's not focus on that just yet your second request was a take like a turquoiseable pld So let's get that punched up on the screen for us An actor did I answer your question? I think I did I hope I did and if I didn't then please write back to me And we'll make sure that I do prologous is what pld is which is pulled back to the bottom of its bullish structure daily profile So the key level that has been tested several times over the last week or so has been this one Well, let me give you the right number here Is a 151 74 now you closed 151 72 yesterday Um, that's okay, but let's take a look at the pld prologous ink on the date now There's no a to b equal cd pattern here That has completed it would have to close you'd have to see a close below 149 82 But we know as prices sitting at support on a daily time frame support at the weekly time frame bottom of that profile Is 150 83 and it's above the week above the profiles on a monthly basis. So there's the potential of a bottom Let's see if there's any other kind of pattern out here And the answer is there is not and yesterday you can see the oscillator and change line had changed colors yesterday The day before and yesterday was a bearish result of that test It could get back to bullish if you saw close above 155 40 today But the breakout level then this is so the next level of support If price does close below the bottom of that the daily profile Hector is going to be 144 36, but if it closes below this hammer candle that would be right now your b-point Yeah, that would be the b-point of the a to b equal cd So level to be watching there is 149 82 Then you'd have your a to b equal cd to the downside and we could take a look at that So I hope that helps you out with regard to prologous pld is the ticker symbol And thanks so much for the question this morning to get in up early with us next question coming in from susanna And susanna wants to take a look at when you do your analysis of bitcoin Absolutely and uvxy that one's a more difficult one. Let's go take a look at the bitcoin Let's take a look what bitcoin is doing. We'll do a couple different charts out here But we'll take a look at that bitcoin is getting ready to roll over from the january contract to the february contract if you where did it go Should be here we go So now you've got both contracts out here in the susanna One of the things that you want to know is where support and resistance so on both contracts I'll give you the number in the case of the january contract We're looking at 34 993 of support resistance 38 200 the case of the february contract What we're looking at supports at 35064 and resistance is 38 242 for training the future contract What you're going to be trading here is the uh is the february contract So that's what I'd be paying attention to your other question is well, what else is uh bitcoin doing So if you give me just a moment here, we're going to switch over to my eight panel charts And you'll be able to take a look at bitcoin from multiple timeframes. Now what you'll see What happened there? um sorry come on down there Okay, so on the upper left hand side Really the the monthly and the weekly have continuous contracts up there It's the only way that I can enough data to take a look at it So what we know here is that what bitcoin Is doing it has a td9 count bottom on the weekly basis And if price closed below last week's low last week's low by the way is 36 150 That's going to signal to you that price should continue to head lower If price is able to hold that level then a key area key bottoming signal will have held So that's the level to be looking at tomorrow on a daily time frame. I don't have any kind of bottoming signal There's not an a to b. Well, there's an a to b equal cd down pattern But what there's not as a bullish reversal candle, so we don't have a confirmation of a bottom What we have is just simply price consolidate in between support and resistance out there So that's what the daily time frame is telling us on a 30 minute chart out here So interday if you're trading this if price were able to take out close above 36 9 50 That's going to suggest a continued move higher So that continued move higher, you know that your real key resistance level is going to be 38 242 So that's one price target another price target of resistance levels at 37 183 the top of the 60 minute profile Another level of resistance 38 4 15 td9 breakdown level on the 120 minute time frame So the most important thing for you to watch in susanne. I don't know if you're an interday trader I would be watching a fit point 36 9 50 price able to close above that you should see further rally inside of C roads with tm today The reality is that navigating financial markets can be risky Markets can be chaotic and difficult to understand Having the latest market advice can help you turn this chaos into a key for creating winning trades At tfnn we understand that it can be hard to find reliable market news That's why each of our market experts offers their very own market newsletter A must-have tool for every trader out there striving to find an edge in today's markets tfnn newsletters cover every aspect of the markets so you can analyze the market before you trade Try any of our great newsletters risk-free with our 30-day money back guarantee Just visit the newsletters tab on the front page of tfnn.com tfnn educating investors You having fun trading the markets but having trouble finding like-minded individuals to discuss your trading and investment ideas with Become an apex predator in the trading markets and join the tiger's den trading room only at tfnn.com The tiger's den is an exclusive trading room where successful traders from around the world come to exchange trades and ideas Join the den and surround yourself with the sharpest minds in the trading world Subscribers to the tiger's den are also the first to have their questions answered live on air And can privately chat with our tfnn hosts live during their shows Interact with other tigers and tigers as they share trading ideas news analysis and discuss the market action all trading day Subscribe to the tiger's den risk-free with our 30-day money back guarantee and become part of the tfnn trading community tfnn educating investors Are you looking for a secured investment? 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That's 877-518-9190 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. That's tfnn.com then hit watch tiger tv Well back now folks, so we're going to finish off the show looking at the uh biotech sector for the s&p 500 That ticker symbol is xbi And the left hand side on the daily time frame you can see a completed a to b equal cd to the downside It completed what it generated. That's nice bullish engulfing candle on the 24th like most of the markets generated bullish reversal signals there And so the 24th is really a key level for many stocks out there and certainly the indices So you already have I confirmed by the d-point rich has a long position at this stage out here And so you like that bottom signal what you didn't like is really yesterday's action Which was a test and rejection of the oscillator and change line now price was pulling back with A bit lower volume than the trading day of monday out here But what you're really looking for here rich is a close above that oscillator and change line Because it's a uh as a profile which has supported 88 59 and resistance of 98 42 in the center said 93 51 You really want to see a close above 93 51 today if you get that price has then moved to 98 42 If the bulls can handle those sellers And that means take close above that Then you're looking and moved to 115 64 So the daily has a nice looking a chart pattern out here the weekly not so much We take a look at the weekly chart. It's likely telling us over time It wants to target 77 79 so no bottoming signal here on the weekly if we look at the monthly time frame chart Also no bottoming signal and you don't like this because price has closed below the bottom of its Profile for the monthly time frame. However, this is the big however What price has done here rich is it's tested its breakout level of support 89 45 and this is a monthly td9 count bottom So the low this month could hold so if you put this together and by the way this formed with a td9 count top So now you've got the exact td9 count bottom What the x-ball is signaling to is it most certainly does want to try to form that bottom And what you really need to see is a close above 98 42 today So folks, thanks much for joining me again between eight nine. Let's do this again tomorrow morning I'll look forward to it and uh, and hey, we've got a treat for you coming up next I've been the warm-up band for basal champion. He's building for tommy. 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You were born to be tfnn educating investors This is tfnn the tiger financial news network update Good morning folks. This is steve rhodes coming to you live from the shores of well It is sunny del ray beach florida. This is your 9 a.m. update Currently you have the u.s equity futures pointing higher the dow futures up 183 points and aztec 140 s and p futures up 35 Russell's up 14 if we take a look it went on overseas last night. It was a sea of red in asia Down 3% in the case of the niké 2% for the hang sang but over in europe right now They're having a party you've got both the dachs and the footsie trading the upside Gold's trading out at 1799 silver 2289. Let's go take a look at our nine panel market update chart out here We begin by taking a look at the es many which by the way is attempting to form a new Both structured daily profile. This will not be confirmed until tomorrow But right now, you know, you've got supported 42 58 And uh resistance at 46 25 if the es many closes today about 43 96 You should see a move to about the 44 74 level The problem for the es many is a spot volatility because it is falling But it's still above its 50 day exponents moving average which said 21 83 So any rug pulls to the downside those could happen and it could happen quickly The nq is also attempting to form a bullish structured profile On this case right now price is trading above the center Which is a 14 095 and it closed about 14 095 is going to suggest to move to 14 701 The us dollar index is strong like bull In fact, if it closes above the top of its weekly profile this week 96 91 It's telling you wants to move up to 98 55 Gold is pulled back right now It's trading below the bottom of its bullish structured profile Maybe signaling to unite wants to go target the 17 90 level silver sitting at support The bottom of its daily profile, which is at 22 80 22 88 lights we crude the last level before this is gets on to an amazing breakout area is the top of its quarterly profile And that's at 8903 that is its price target natural gas always struggling not always struggling We're struggling with resistance at the top of its descending trend line and the top of its daily profile What's going on From a Intra day standpoint is we've got the a to b equal cd pattern to the upsides And it's really the dow that's got the confirmation because this was a td9 count top earlier this morning Price is above that high from five o'clock this morning So the dow you should expect to move up to about the 34 492 to 34 651 level es many of targets are 44 13 44 38 the nq 14 475 to 14 584 and the russell 2001 to 2014 The question is What happens if and when they sell the d-point on the 30 minute charts form Where does price pull back folks? Stay tuned. You've got some great programming vassal champion filian for tommy o bryan I'll see you tomorrow on fantastic writing at about 8 0 6 in the morning. Take care folks