 The following is a presentation of TFNN The Trader's Edge with Steve Rhodes, toll-free at 1-877-927-6648, or internationally at 727-873-7618. The Trader's Edge. Now, Steve Rhodes. Good afternoon, folks. Welcome to the May 24th, otherwise known as the Terrific Tuesday. In addition to today's Trader's Edge show, I'm your host, Stevie Perseverance, Rhodes, who absolutely knows that each of us should always be pioneers of our future versus prisoners of our past. Hope you've been out there 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. We do not make that one little two-by-four shift. Well, which we can find a gift in every set of circumstance that life is going to toss at us. Now, today you and I, and 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 just past one o'clock in the afternoon. I do want you to know I'm absolutely grateful for your presence here. But more important than that, and that's this. During this 60 minutes, I'm here to serve you. So feel free to pick up that phone. Dial on in 877-927-6648. And if you can't dial in, hey, we've got you covered there, too. You can always send me an email. Send it early. Please send it to Steve at tfnn.com inside the subject. If you would be kind enough to put radio show question, and of course, our Tiger is dead waiting in every ping we'll do. So let's go ahead and get this show started on terrific Tuesday. Of course, this is Tiger. Financial News Network. I'm Steve Rhodes. Welcome to Let's Show, a sea of red out there. All the U.S. Indices that we track trading the downside. Dows off 320 points. That's 1%. S&P 78 on nearly 2%. 3% for the Nasdaq 100 to 379 points. Dowses off about 2.6% or 47 points. Nearly 3% for the semis. That's 83 points to the downside. 2.5% for the transports. Gold's trading out at 1864. That's up 9.10 or 16 points. Silver's up 1.5% or 32 cents. Trade out at 22.05. Light's recruiters up a buck. Natural gas is up a penny. And the 30-year treasury is up nearly 2 points. Trade out at 1.4208. Lead to charge. Dollar-wise to the upside is auto zone. Trade out at 1862. That's up 57 bucks or 3% or rather the automotive. Joining in on the party up nearly 4% or 22 bucks. America's Car Mart is up 25%. And Insulate Corporation's up 12 bucks or 6%. To the downside it is Google. 149 bucks. Nearly 7%. Amazon, 91 bucks. 4% booking holdings. 80 bucks. 4% Mercado Libre. 69 bucks or 90%. Tesla's off 40 bucks. So we've got some movers. Boy, do we have some shakers. But let's begin by taking a look at the play-by-play and go look at the equity future contracts. Let's change our windows. We'll go to our multi-panel set of timeframes out here. And really as we take a look at the EES mini, I'm looking for, was there any bottoms that formed early this morning? The two timeframes that pop up or the three timeframes, I should say that pop up on our four timeframes that pop up on our screen. You know, you give me enough time. I'll figure out those four timeframes. The five minute, the 10 minute, the 15 minute. So that's your ultra short-term. And then you've got the two-hour timeframe chart. And that's one that we're going to focus in on. And that was a TD9 count. So what we have here inside of the EES mini, the first bottom on the 200, on the two-hour chart here. Give me a moment. That took place on May the 13th, May the 12th, May the 12th. May the 12th, as we came into the close, you had a nice big old bullish engulfing candle confirming a rose mint and indicator bottom. Price moves higher. So we get a move down below that prior low out there. So there goes your potential theory of higher lows, higher highs, because that's not what took place. But yesterday, coming into the close, not yesterday, May the 20th, you get another rose mint and indicator signal. So the question is, is that low going to get taken out? Again, just as it did last time. I don't know the entrance to that, but what I do know is that we did get a TD9 count bottom. And that says that by 2 p.m., we will have a completed TD9 count. You can get a lower low during this session. We've got 50 minutes to go. Anything can happen. But bar number nine did complete with a bullish hammer candle. And so let's assume at this stage here that the TD9 count bottom is in. That did send price up higher towards its oscillator and chains on which is red. And that has been rejected. So what you do know, what I know, is that line is going to be a key level of resistance on any move higher. Currently, that's printed at 39.18. Then another resistance level above that. That's the two-hour timeframe chart that we're looking at would take us to 39.52. Likewise, if I can say likewise, I just did. If the low of today gets taken out, that is the low of that bullish hammer candle right now. And that's at 38.72. That would suggest strong momentum to move to the downside. That would suggest going back and testing the lows from the 20th, maybe taking them out. We don't have that just yet. So we want to watch this. Does this take hold? Does this start getting above resistance levels because it's below support areas, the bottom of its current profile, 39.14 on the oscillator and chains line. I don't know the answer to that. We just have to wait and see. As we look at the shorter intraday charts out there for some signals, that would be that 5, 10, 15-minute chart out here. What I don't have is really any kind of a bottoming signal. I don't have a topping signal necessarily either, but I don't have a bottoming signal there. And that suggests we could see price move back here. So what else can I share with you on the ES mini? Not much. At least not that I can see. Price is below that daily red oscillator and chains line. We've only had a couple of sessions. This is now the third session since the beginning of the month where price has been above that. Those have just simply been one hit wonders. So if price can close above 39.23 or so, that's the daily oscillator and chains line. That would be a positive. Otherwise, just expect some of the same, same old, same old. Now let's go take a look at the NQ. The NQ getting hammered out here down 3%. So as we speak, let's go see what kind of signals we might be able to find here. I believe it is a two-hour timeframe chart that also formed a TD9 count. Let's wait for this thing here to populate and just make sure. Let's also pull this back just a tad. Come on, populate, populate, populate. Come on, the folks are waiting here. Let's go ahead and pop. There we go. So now we've got a TD9 count. Not a hammer candle, by the way. It doesn't have to be a hammer candle. It just was on the ES mini. Let's expand out the two-hour timeframe chart here for the NQ. So what we basically have here is you have that nice Roadsman Dementicator bottom that formed on the F20. Today is the 24th. The price has basically been consolidating with inside that profile ever since. So if I were to ask you, what's the key level of support, you would say, well, that's easy, Stevo. It's going to be the low of that Roadsman Dementicator signal. And that would be at the 11, 491, 25 level. And where's the resistance? Well, you've got really two resistance areas. The first one, because we have a TD9 count, bottom that has formed, would be the TD9 count threshold resistance. And that would be at 11, 918. And the next level of resistance above that would be 12, 096. I would say it would be the close of a 12, 096. That would say to Peter, okay, maybe the chop-chop-fizz-fizz is over with, or at least you get a run up to the 12, 546 area out here. But right now what we're doing is we're watching support. You've got really two levels of support. 11, 551 is the bottom of the profile, but it's really low of that Roadsman Dementicator signal at the 11, 491 area that you would be watching. If we look to the other timeframes for other signals out here, what do we have? Not much. What I mean by not much is other than the TD9 count on the 120-minute time frame chart, I really don't have much more to report. So now let's go take a look at the Dow. In the case of the Dow, is it below yesterday's low? Is it below, is it traded below yesterday's low? I'm looking at the Dow equity future contract here. And the answer is it has not, and that's got to make you say, hmm, something to think about. Steve Roads with TFNN. We'll be right back. This is Australia's largest undeveloped gold project. We are talking a world-class gold project in a tier one mining district. This is a large-scale, low-cost project with significant existing infrastructure in a politically safe and friendly mining jurisdiction. VISTA Gold just completed the Mount Todd Feasibility Study, which resulted in a 7 million ounce gold reserve in a 16-year mine life. All of this combined with the approvals of all major operational as well as environmental permits. This distinguishes Mount Todd as an attractive, dearest partner, ready development stage gold project. VISTA Gold trades on the New York Stock Exchange under the symbol VGZ. Steve Roads started his trading career as a student almost 20 years ago, and the student has now become the master. Steve won the prestigious Timer of the Year award in 2018 and barely missed that mark again in 2019, finishing at number two for the year, an amazing accomplishment. Steve Roads is committed to sharing his techniques and knowledge with anyone who wants to learn, and he shares his vast amount of trading knowledge every day in his Mastering Probability newsletter. Steve's award-winning newsletter, Mastering Probability, is delivered every trading day with updates throughout the afternoon. Sign up for Steve's Market newsletter, Mastering Probability, and you'll receive access to seven of Steve's educational webinars absolutely free. At TFNN, all our newsletters come with a 30-day money-back guarantee, so you have absolutely nothing to worry about. Visit TFNN.com and try Mastering Probability, 30 days risk-free today. TFNN, Educating Investors. 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 to 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 TFNN, Educating Investors. Welcome back, folks. Let's go to our first request, our first request from John and Philly wants to take a look at the... a couple of different instruments out here. So the first we're going to take a look at is the Kansas City Week contract out here, the July contract. John, if we take a look at the monthly chart, let's just go through the different timeframes. Monthly chart is very bullish. What I mean by that is we do not have any kind of bearish signal out here. On the weekly timeframe, you are forming bar number eight potentially out here. You do have a Rhodes momentum indicator signal, but no bearish reversal candle with price above. It's weekly green oscillator and change line, which is 1198. Conditions are bullish there. In the case of the daily timeframe chart, it did top with both a TD9 count pattern and a Rhodes momentum indicator signal. And right now, price is pulling back to test a level of support. This is a key area out here. This is a 12, 23, 40. If price closes below that, then the next level of support would be 1179. And then below that, John would be 1123. If we take a look at the 195-minute timeframe chart, it top with a TD9 count pattern, but you also have a TD9 count bottom. In fact, as I look at all of these intraday charts, the two that have a bottoming signal would be the 30-minute. It has a valid TD9 count bottom, as does the 195-minute chart. So those lows are going to be really important. Why? Because if price closes below those levels, that tells us about a strong momentum to move to the downside. The 195-minute target would be 1168 to the downside. The 30-minute chart would be at 1192 to the downside. That's not the pattern that is in play right now, but it is something to keep an eye on, because that's what the message would be should price take out those lows. Now, with regard to resistance on those two timeframes, the 30-minute chart would be a 1244 or there about, 1245. That's its oscillator and change line. And it would be about 1295 or so. We'll call it really 1309 for the 195-minute timeframe chart. So that's what I see when I take a look at the July contract for the Kansas City weight. John, let's take a look at December corn out here. So we got ZC, we got December 22. This is going to take just a moment to populate. Folks, you already know this on a yearly basis. Price is well above last year's high. So we take a look at wheat, we take a look at corn, we take a look at everything. It's a big move to the upside out there. We're letting this populate. Well, this is populating. Let me go see if I can find cattle. Also, I'm going to get those at least going on my black background charts here. So if you give me a moment, that live cattle out here. Okay, so we got that populate. So now we've got the corn contract. So John, let's just do the same exact thing. We'll start with the monthly timeframe. You can see there was a TD9 count top out here. That was back in February of 22. There wasn't even really a hiccup price above that. Strong momentum move to the upside suggests higher price. The weekly chart is a bit congested out here. This has a, looks like a TD9 count top. Let me see here for December. It has a TD9 count and roge momentum indicator top. And price is testing support. The ultimate level of support here is 705.60. If price were to close below that, then what we would look at, that's a bullish structure profile. Then you'd be looking at a potential move to 627. So right now you've got the confirmed top. Price consolidating with insight, it's profile. What's the daily tell us? Daily tells us that price is trading below the bottom of its daily profile. Don't know if that will hold. It's 728.75. But if price does close below that today and or tomorrow, we go back and we at least test the lows. You would presume from May the 9th that if price gets below that level, which is 703.75, that can start your move to 653. You can see you've got some bottoming signals that are present, not confirmed on the 195 minute chart. It would need a bullish reversal candle. The 130 would need the same. So too for the 65. Those could confirm roge momentum indicator bottom signals. The 30 minute has got a TD9 count pattern, 15 minute. It's got nothing. So what's this tell us? Well, because you've got a nice TD9 count bottom, it's confirmed on 30 minute basis. John, if there's a close below this morning's low, that tells you we had lower. Otherwise on a continued rally from here, price should go and make its way up to the 725.58 level. Let me see if I can get. So the June contract is still the active contract, I believe for cattle. So let me see if we can get this to populate on these white background charts out here. And if not, we'll go take a look at the, we'll take a look at the black background chart, but we can get more information from these charts. So let's just give it. Oh, you want to take a look at August. Okay. Sorry about that. So give me a moment here. See if we can populate this here. It's going to take just a second. So sorry about that. That was called a Stevie screw up. And if you hang out with me long enough, you'll, you'll experience those from time to time. So August of 2022. Let's go ahead and let the cattle. Now what I can tell you is cattle on a daily basis. John, while this is populating, it is trading in between profiles. So your daily level of sport would be the 132, 39 area and 135, 75 would be your level of resistance here. Come on, populate, populate. So we can show John this area. There we go. There we go. So we've got the, that's just still got to finish. Just give it a second to complete here. So I don't have a, I have, okay, perfect. So the daily timeframe, and I know I should go like at the monthly here, but there's nothing on the monthly for me to share with you. The weekly, is there anything here for me to share with you? Let me open up the chart. It's got a Rosamund Dominicator top. Price could be targeting 127, 17. That's what the weekly chart, but before that happens, you have a buy the D point pattern on the daily timeframe. That's what I was really noticing. So there's tops of the TD9 count. Let's go ahead and draw the A to B line from that high down to the swing point low. That was from May the 2nd. Now what I'm going to do is I'm not even going to copy that. I'm just simply going to take this as we've got A to B, move that to the C to D. There you go. And while yesterday you had a nice big old bullish engulfing candle. Now John, what the issue is here for a live cattle is price needs to overcome that red oscillator and change line, which it has been below for quite some time. So we tried to do that earlier in the day. That level, by the way, that OUL level reads at 13283. So you have your confirmed bottoming signal. What you really want to do is at least get the momentum side of this trade to give you the go ahead. We don't have that as we speak just yet. If you did get that go ahead, then you're looking at potential resistance. The next resistance level of the upside 13365 and 13575 above that. Now that's coming from the daily timeframe charts. Let's see if there's any other signals out here worth noting. 130-minute nice roads meant to be indicator bottom out there. The same for the 30-minute chart. 30-minute chart forms a TD9 count top and pulls back to support. So if price is going to head lower because we've got that nice TD9 count top out here and price pulling back to test that oscillator and change line after changing color and after forming the top, right now if price can hold this, that is a buy signal for the 30-minute timeframe. So that's in essence what you're kind of looking for on the short term to see some type of signal here that that just holds support, holds support and then takes off from here. And should price take off from here, that level of resistance would be on a 30-minute base to be 13397. If you clear that, then you're looking pretty good out there. Is there anything else here to take a look at on live cattle? I don't see anything. So John, I hope that helps you out and sorry that you weren't able to get through on the call line out there. I think we've got some other requests. So let me go back and take a look at those, see if I can get this here. Who asked me? Many of you are welcome, John. No August you put in there. Somebody was asking me for something. Darn it. What was it? Was it Zoom? Somebody asked me for Zoom. My apologies. It's hard for me to... Yeah, I think it was Zim. Zim is what it was. So now let's... I'll tell you my perfect, perfect time for a break. I remember we looked at Zim yesterday. Didn't we see on Zim? That thing looked like it wanted to head higher. That's my recollection. Let's go get the charge up on the screen. When we come back to this break, we'll go figure out what Zim is doing. So you wrote the TMP. If you want to take advantage of this sector, now is the time to subscribe to my Gold Report. The Gold Report is a comprehensive look at the metal sector as well as the markets that move gold, which is the currency and bond markets. New subscribers get a 30-day money back guarantee, so you have nothing to lose. Every Monday morning I publish the Gold Report with coverage of gold, silver, bonds, the XAU, HUI, GDX, as well as more than 30 different mining equities. To see for yourself the types of profitable trades that are recommended within the Gold Report, sign up now by visiting tfnn.com. Don't miss out on the next great gold trade. Sign up today. You can join our community of traders. In the Tiger's Den, you can look over the shoulders of Tom O'Brien and the other TFNN hosts. While they analyze charts during their live Tiger TV programs and join an interactive trading community with hundreds of members exchanging ideas for a variety of professional traders during market hours. And now they are expanding their reach with the Tiger's Den. 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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 guardleys, ABCs, butterflies and much more. The Art of Timing the Trade Charts is designed to help you when scouring 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 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 TFNN.com. For more information, just click the Think or Swim banner on the front page of TFNN.com. Welcome back folks, Dow's off $260, S&P's off $70, and it is Zoom, not Zim, that we're going to go take a look at. It looks like a pretty damaged stock to me. Top's out here on a monthly basis. It gets up to that $600 level. That tops with the TD9 count top. And now what we've got is a TD9 count bottom that's going to complete this month. That's going to be a month of $65.81. So you're going to have that confirmed monthly TD9 count. That looks pretty nice. Weekly, if you get a weekly bullish reversal count, you're going to get a confirmed rogement and indicator bottom. So certainly the monthly and weekly are trying to form a bottom in the daily already has. The daily formed a rogement and indicator bottom on May the 13th when price gap to the upside. A gap to the upside is your friend that is a bullish reversal signal out there. Now price is just consolidating $85.09 to $100.25 after that huge run-up to the upside and then move back to the downside which is really what a damaged stock looks like. You probably just have a consolidation at this stage moving sideways in between that zone of $85.09 to $100.25. I could be wrong on that. And if I am going to be wrong on that, what we're going to see is price clear and close above $96.17. $96.17 is the top of its $195-minute profile. It's near the breakdown levels or near the breakdown levels of the $130 and the $65-minute chart. So that's your real significant resistance zone out there, Dan. If price can get above that, well then maybe we take a look at the move to the $125 level and above that, then you've got a change in trend with all those bottoming signals out there for both the monthly and the weekly timeframe. So hope that provides you with the information that you were looking for inside of Zoom. $92.85 the upside? Well, the $95.10 certainly in $95.83. Those are levels that have been hit so far and those are the TD9 count breakdown areas. So hope that helps you out. Nancy wanted to take a look at Apple so AAPL is a ticker. So I'm just going to take a moment here for this to populate. And I believe that Nancy is looking for Apple as to where it should go from here for the rest of the day. Oh, you know, oh man you're not asking for anything, are you? For the rest of the day? Okay, well, when this populates out here we'll see what the 15 minute chart and the 30 minute chart communicate to us. Maybe I need to go down even lower. But let's just see what these things telling. So Nancy, what you got yesterday on the daily timeframe was a confirmed by the D point pattern. But what we can see here, I'm just simply going to expand this out. So as we expand this out, we can see that what Price did was ran right to where it should have, which was that red oscillator and change line. So first things first upside potential would be that oscillator and change line. That would be 142. Am I saying that's where Price is headed to? No, I am not. But what I can say to the downside, the likely Price target would be the bottom of its new profile, bullish in structure below the prior profile so Apple is not out of the woods by any stretch of the imagination. But 136.04 would be your downside Price target. Now let's go see what the intraday charts here are communicating to us. Not much. Not much. Not much, not much, not much. Hmm. You know, and I appreciate it. I wish I could give you what it's going to do the rest of the day and I don't think if I go find out what's going on on a five minute basis or a 10 minute basis, then I'm going to get a whole lot more information out here. So what can we do? What can we say? Let me see. I've got a different screen open. You don't see it. I'm just going to see if there's some other profile levels. So if you give me a moment for that, and then we'll go ahead and switch over. Okay. So let me switch over. Here's what we're going to do for fancy Nancy out here who's really asking for a lot quite frankly which is, you know, where's Price going for the next couple of hours here inside of Apple. So I mean to do that I'd have to really look at a number of different things. None of which I can really do in just a couple minute time frame and make everybody happy. So did I I didn't even get the right screen. Change windows, get to the black screen. So here's what we're going to do Nancy. We're going to go to this black background screen here where I can easily just change the time intervals and we can take a look at what's going on. So at this stage here prices below profiles on a five minute basis. When you're below that you're below support where my price is 10 to. I just simply have to go to the swing point which has not been tested and that took place this on a five minute base at 10 15. So that's between the level of 137 33 up to 137 90. The volume there was 1.4 million shares. You'd like to see price pull back on the lighter volume out there. That's the five minute chart. So that five minute chart says it still needs to get down there and test that swing point. I don't know what will happen Nancy when price test that swing point should it test that swing point. Let's go ahead and go to the last favorite time frame. That would be the 10 minute chart out here. And on a 10 minute basis. You can see that the rally ran right into resistance. The bottom of that. Daily profile. Old support being. In this case here new resistance in that profile form above price that was a bearish message for Apple. So this is suggesting that price should test. It's already doing it. So it's doing it right now. That's testing. Let's go draw a line across here. So I give you that price real easily. And we're looking at the high of that swing point was at one thirty eight twenty five now. The volume on that on a 10 minute basis names was two point nine million shares. You tested it with one million. Then one point one million. And this bar here which is going to complete in five minutes. You already have six hundred thousand shares about one point two. So you are testing this swing point on lighter volume. The point's not reacting your upside resistance level. I would ask you what do you think it is. You would absolutely tell me one forty nine. So the five minute the ten minute chart they're just suggesting to us a price going to go test that swing point in case the ten minute it's already done on lighter volume. But we haven't seen much movement there. And on the fifteen minute we're below profile so there's nothing else that I can provide to you to assist you with what the Apple's going to do during the day out there. So I do hope that that helps you out and thanks so much for the question. Although and I just gave you the really the question. So I do hope that helps you out. Let's go to our next question. This one coming in from Mike P. and Mike went long and video. So let's go take a look at the Nvidia charts out here and B. D. A. and let's go over to my well as long from the black screens here. Well the white one is popular and B. D. A. whoops let's try that again. I guess I did OK. So I did it right now Mike. Looks to be testing support. That is the bottom of its list. That levels one sixty fifty. You really prefer not to see price close below that level out there for closing below that. You know it may just go down to test the swing point from last Friday was last Friday no may twelve that was not last Friday may go down and test that swing point that's in the one sixty one. I'm sorry one fifty five sixty seven level seventy one million shares so you're pulling back with lighter volume you are trading in a support out there that's on the daily time frame the market. I really like to get lower down to one forty nine forty nine or so to complete the A to B equal CD pattern and then form some type of bullish reversal candle. And then it might be off to the race of the upside by generating a by the D point. We just don't have that as we speak right now in the monthly charts as I want lower price and the lower price that it wants to get to its rate of one sixty one thirty seven is one thirty four fifty nine. So the only way that's going to happen is we're going to go down to the bottom of that candle for may twelve out there. Of course you are long so let's go look at our white background screens out here I don't know what your time frame is for being long. Let's go see if there's any kind of short term signals to assist Michael P out with. You went long at BD one sixty one earnings are out tomorrow. Okay. So what else can we I mean you can see where some of the one thirty four fifty nine. Comes from Mike that's a really nice road here the the dailies got a nice roads meant to indicator bottom so that's helpful so that really tells you that a price that goes below that age wealth level it's current to the downside but right now you just got a consolidation with inside that daily profile that range out there again to the upside is one eighty nine fifty into the downside is that one sixty fifty see roads with T.F.N. will be back in just a few. 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to end that you know Mike as I look at the intraday charts out here everything trying to form a bottom so there's definitely the intraday and the daily are really attempting to form that bottom you're in at a good price out here I would just simply watch the the profile low as well as that swing point that swing point again had volume of 71 million shares you're in it right now with 37 million shares so you'd like to see that volume stay light there but you got to you know earnings coming out tomorrow I wish I had better signals on the weekly and the monthly for you and I just don't have those so thanks right in and I do hope that helps you out we've got a request from my Brent in Martinez California Brent wants to take look at natural gas out there which basically folks that you could look at your UNG chart and but it's natural gas and it's the July contract that we're looking at what I don't know inside UNG if it's only July that is that makes up that count makes up that ETF or is it July in some other month out there but as we take a look at the July contract the monthly looks more bueno no bot topping signal at all should continue to move higher the weekly chart it's negating as we speak right now this week it is negating a TD nine count top out there and that would suggest a strong move to the upside it is really the daily out of your Brent that's the chart time frame that you want to be concerned with why prices making its way back to roads with the indicator top so we know there's resistance there that's at 905 you are going to complete bar number eight today this says you could complete a TD nine count pattern or could yet you could form a TD nine count pattern tomorrow and complete it on Thursday that requires tomorrow that the natural gas contract for July close above eight dollars and forty cents if it does that the TD nine count top whether it's today tomorrow or the next day's high that I don't know but you would have that topping signal back where price also found resistance and form that roads meant to mitigate a signal now the cool thing here is you don't have to exit the trade or anything because prices above the daily oscillator and change line which is green the daily top of its profile out there so it really gives you a neutral signal and then wait to see if in fact the TD nine count pattern takes hold the green oscillator and change line if you got that then I would likely jettison that position but longer term monthly and weekly are saying looks good it's just the daily that saying it might want to go ahead and put buyers into a little bit of a time out now what I will do is just switch over to the black background charts for you and take a look at the UNG it'll take too long here to populate and so on the UNG see if there's any kind of signal there worthwhile for us really I'm just going to look at the volume as prices coming into that swing point area that we're looking at on the daily time frame in the volume on the daily time frame that's interesting I look at the UNG that's why so back on that high of May 5th is that the actual high here there was May 6th was the actual high May 5th out here that had a volume of 9.5 million shares you traded up into a yesterday with light volume 7 million and today you're at 4 million shares out there now in the case of the UNG it has tested that swing point high and it has rejected it but is that enough I would wait for the underlying instrument natural gas back out to the natural gas contract here because we didn't look at those intraday time periods so we should do that and as supposed to be just talk about it and then have you guys wonder what that I'm talking about we'll go right to those charts 30 minute Rosemont and indicator top has led to a consolidation with inside its profile no damage done same for the 60 minute the 120 minutes Rosemont and indicator top and price with inside its profile but just slightly trading really on its oscillator and change line out there so not a clear signal but if price does close below that level you could be looking to move back the 50 area nothing for the 240 nothing for the 5-hour time frame chart so I would prepare for a TD9 count topping pattern to form between today and Thursday hey Brett thanks so much for writing in let me just make sure I get your question could you give your analysis UNG I can see an A to B equal CD pattern on the weekly for the UNG without an expansion the C to D leg so what Brent is looking at here so let's go back to simply so I could address what he pointed out to us and share that with you as well he's looking at an A to B equal CD pattern he said inside of UNG specifically from the weekly time frame but again what we know is the UNG it's really about the current components that are with inside that contract that are going to be the driver but the A to B pattern I'd use December 28th is my A point the B point out here is the high from October 4th the C point looks like it was a low on December 20th we're in the so it made the one to one A to B equal CD pattern creates a bearish engulfing candle on a trading day out here Brent of April 18 you're now above that level and you're at the 1.272 expansion area so it's negated a prior sell the D point pattern so that looks bulge but still we've got to pay attention to that daily natural gas TD9 count in my opinion so thanks so much for writing in always good to hear if you move that was Brent in Martinez, California no other questions um I'll take that back we've got a question here from JT in New York JT says which of these two shipping companies would you buy Nordic American takers are GNK so I don't know the answer to that question but let's go take a look at both of them and see if either of them suggest that we should buy them let's begin by taking a look at Nordic American takers now Nordic American takers is going to take just a few oh actually you're still on the black charts let me go pull those up by the white background charts here populate Nordic American takers as you can see right now gapping down this morning trading below support which is 28 cents that's the bottom of this daily profile trading below its weekly profile trading with inside the monthly profile so that's what I know at this stage of the game your question is which one should you buy let me just quickly see what does these charts for GNK look like out here that is a well GNK looks better I can already tell you that because price and the daily basis of consulting with inside its daily profile not trading below the bottom it's trading slightly above the top of its weekly profile and it's trading above the top of its monthly profile so simply profile wise out there JT the chart that looks better is Genco shipping let's go back and take a look at now that I've got the white background charts for Nordic American takers up on our screen let's go see if there is something on those charts that provide us with some assistance and as we take a look at the daily timeframe out here which was trading below the bottom of that daily profile I don't have anything out here to really assist us price to get back to 188 so I don't see a buy signal don't see something on the 195 minute chart I don't see any kind of buy signals for any time frame for Nordic American tanker and a price close of low support today and tomorrow we're probably looking to move back to the one 88 level so that that chart we we'd like it if it formed some type of bottom signal I just don't see it at this stage or at least during that you know 30 seconds that full 30 seconds that I gave it but I didn't see anything and I think if you would seen something somebody in the den you would not 2x4 across my head and said wait Stevo wait a minute you're not looking at everything now we're going to let this thing populate this is going to populate with that Genco shipping trading company and here we're looking the signals we're looking at here for JT is do we have some kind of top that's for me do I have a TD nine count road's meant to mitigate a signal do we have anything now this week price gapped up triggered a road's meant to mitigate a signal but that just requires a bullish reverse reversal candle to confirm the pattern we're trading above the top of the weekly profile so price may continue higher now the daily shows why we're resistances that and that's that roads meant to mitigate a signal that formed out here with the bearish engulfing can on April 20 and price in essence is trading into that now that was on the daily time frame for G&K the volume up at that high was 1.4 million you're moving into a 1.04 million right now so looks like that high at least wants to get tested but if you get a close-up of that high that high is 26 bucks even Steven G&K is likely off to the races see roads with TFN we'll be back in just a few sharpening your skills as an investor is like getting better at playing a musical 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