 The following is a presentation of TFNN The Trader's Edge with Steve Rhodes at 1-877-927-6648 or internationally at 727-873-7618 The Trader's Edge Now Steve Rhodes. Good morning folks welcome to the May 5th the fantastic Friday Edition of 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 everyone out there's having a great day Hey, let's make sure we have an extraordinary one and the easiest way to do that is to always remember that life is Happening for us not to us That's right When you and I make that one little two-by-four shift means we can find the gift in every set of circumstance that life is going to toss out Is now today you and I we're going to go check on the circumstance of these markets We'll go figure out what those bulls and bears what those buyers and sellers are communicating to you and I at just past 11 o'clock in the morning now. I do want you to know I'm absolutely grateful for your presence here But even more important than that and that's this during this next 53 minutes I'm here to serve you so feel free to pick up that phone You can dial on it at 877-927-6648 now If you got a question, but you can't dial in go ahead and send me an email Fire that off to Steve at tfn.com inside the subject heading. Please put radio show question now If you're inside our Tigers then well than any in every ping will do so let's go ahead get this show started on Fantastic Friday, of course, this is Tiger financial news network. I'm Steve Rhodes. Welcome to the show Well today we've got a sea of green yesterday was a sea of red You've got all the US indices trade to the upside all the sectors in the S&P 500 trade to the upside the thousand 462 One of four tents one and six tenths for the S&P or 63 one is seven tenths for the Nasdaq one under 219 One and nine tenths for the Russell. That's about 33 points the upside semis up a little over 1% 35 points there 20s up one and a half percent 216 points gold is off 38 bucks Silver's down 77 cents lights recruits up nearly three bucks That's a gas up about four pennies the 30 year Treasury printed out 1328 that is off one point and eight ticks Now lead the charge dollar wise the upside you've got Mercado Libre up 32 bucks a sign of group 18 Bill Holdings 15 Broadcom 15 and into it up 13 to the downside is bio rad Laboratories down 18% or 81 bucks monolithic power systems 52 bucks 11% e-pam 21 bucks 8% Altassian 15 bucks 11% Paylossity 12 bucks 7% so we got some movers and we've got some shakers But we're gonna begin the day by taking a look at those questions coming in about you know What's going on the market so we're getting ready to take off top side if we broke it out We've got large a to b equal CD patents the upside so the easiest way for me to answer that question since it is Friday And it is the end of the week. Let's go look at the weekly charts. What are they telling us? Well, if we take a look at That's the daily charts. Let's go take a look at the weekly charts. There we go. Now. We got the weekly charts So where are we? Well this week the ES mini has formed a new profile that new profile is within the prior weekly profile Now, you know what message that has that we started today by 10 when we started the 11 o'clock update by taking a look at consolidation after consolidation after consolidation after consolidation That's the message of this profile here is to expect the consolidation pattern to continue like nonetheless right now There's resistance inside the ES mini at 4206 the high so far this week 4206 That's resistance until gets taken out Don't know whether there'll be an a to b equal CD the upside even if does get taken out You really need to get a close about 4243 25. That's number to have on your pad of paper We get a close above that then we can start talking about an a to b equal CD the upside inside of the ES mini But not until then we take a look at the NQ Beautiful day today, you know Apple and we took a look at the ND X 100 the top 10 yesterday As the markets were moving lower out there. We didn't see any significant damage. That was going on We had that roads meant to mitigate her top and Apple which ended up holding the trend at day Zen But inside the NQ it also has resistance at the top of its bearish structured weekly profile that level 13349 what's the high of the week 13 370 so we didn't spike above it, but we are trading right now at 13255 now that has a new profile that formed a few weeks back and that profile suggests that Prices should continue to move higher. That is if price close above 13348 Inside the Dow the Dow is consolidating with inside its weekly profile the resistance level here is at 347 98 in order to Trigger an a to b equal CD pattern the Dow equity future contract would need to close above 35 475 and there are also 2,000 on a weekly basis all that it's done this week is pull back to test trend line support There's two trend line support areas It's basically tested both of those is trading below profiles out here So we're not talking about a to b equal CD patterns the upside in it It has the potential for a to b equal CD patterns to the downside, but right now That's not what we have what we really have is a consolidation going on inside these markets out here and not just the equity markets We took a good gold and silver and the US dollar The 30 year bond out here. There's a lot of consolidation. So let's not forget that so there's my there's that's what the market outlook is With regard to the equity future contracts those four of course We can take a quick peek here at the daily time frame what's going on a daily basis I've just drawn into one consolidation pattern inside the ES many you can visually see it inside the NQ right here The the consolidation pattern for the Dow. It's it's it's not that easy to draw in here So I'm not I'm not convinced about that. We do have two different profile levels inside the Dow This is the June contract and we can't see that price did find support this week at the bottom of that profile That was at that 33 to 20 33 to 28 level out there So that's what that's what I have to share with you with regard to these charts What else can I share with you great question? So let's take a look. What do I have to take a look at New York Stock Exchange? Yesterday we discussed how the New York Stock Exchange its advance the client oscillator That was courtesy of Peter from Park City had had was trading into the oversold territory Oversold territory is at the minus 150 area. How do you get to minus 150? The advanced client oscillator takes the advanced decline line and then it takes a look at the difference between the 39 and 19 period Exponential moving average that is what that is represented by now The advanced client oscillator still is below zero when it remains below zero It tells us that sellers are the ones that are in control of the general markets out there So that's that's the signal the signal is we got to oversold status over oversold status I say we're bought out. I didn't oversold status if I did, you know what I meant And now that condition is just being worked off if we get back above that zero threshold line Then the ball shifts and when I say that ball shifts it puts it back in the position of Buyers having the upper edge out there If we take a look at the spot ball of tics Well, the spot ball of tics price is below that 50 day expense moving average at 1911 and that does give buyers the edge out Here we take the worst price trading relationship to it's a apogee pivot points still got some resistance got some proof for the Yes, many the as many is targeting that level. That's at the 41 and 55 area Likely we'll get up there The question is doesn't Peter out at that point in time the NQ is trading above apogee That says I'll be looking for any pullbacks to find support at that 13 234 level out there anything else that I can share with you on these charts I think the answer here is no, so let's move on. Let's move on to where excellent question Let's go move on to the intraday charts here. Well, I tell you what we're gonna go to a break We've got several questions that have come in Roger wants to look at Apple S&P gush Hector once looking cat and John Deere Roger wants to take a look at NSC and I see a couple other requests in the den So let's go to request so we get back to this break Currencies commodities and bond markets are as important as ever right now with how they're driving the volatility in equity markets across the globe Which is why it's a great time to try out Teddy keg stats tiger 4x report Teddy keg stat breaks down the 4x markets every Monday using his 30 plus years of experience as a trading veteran of futures 4x stocks and options Teddy releases his weekly tiger 4x report every Monday morning with coverage of all the major currency pairs Including the dollar index the euro dollar pound dollar dollar swiss Dollar yen as well as many more and he also has weekly coverage of the crude oil market and the 30 year t bonds as they both influence 4x markets tremendously when you sign up for the tiger 4x report You also gain instant access to teddy 60 minute webinar archive He just hosted 4x strategies and fundamentals What is behind the tiger 4x report for all the details and to start your 30 day tiger 4x report subscription today Visit the front page of tfnn.com tfnn educating investors You might think that if you want to be successful at trading in the stock market You're going to need a crystal ball after all it's impossible to predict the future, right? Like any endeavor in life before you decide it's impossible get some advice from the experts You might find that it's not so impossible after all for daily market overviews that give you direction on the key indices selective stocks and commodities Subscribe to the opening call newsletter at tfnn.com The opening call newsletter is written by basal chapman creator of the trading methodology known as the chapman wave The chapman wave up down sequence gives you an edge in identifying price turns finding the peaks and valleys in stock prices Get the opening call newsletter by basal chapman in your inbox every day First time subscribers also get a 30 day money back guarantee If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up tfnn.com educating investors Steve rhodes 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 rhodes 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 Toll free at 1-877-927-6648 Internationally at 727-873-7618 Looking back folks here. We're going to get to the request here in a moment What I want to do is go over to the equity futures and and provide at least some parameters out here So it's a 60-minute time frame charts that I've got up on my screen right now The reason I've got this up here is we have two td9 count tops that are going to be completed at 12 noon So and when I say completed they've already confirmed that's for the dow and that's for the russell 2000 Now assuming that we don't make a higher high between now and 12 noon I don't know whether we will or we won't I'm going to give you the numbers if we do Then these numbers are not applicable if you were to see a close above at this stage here for the dow equity future contract A close above 33 683 that's telling you it's going to head higher now that head higher would take us up to 33 8 97 May take us beyond that that would be the next battle. So watch that level inside the russell 2000 the area to watch Is 17 62 90 the price closed above that we get back to the highs of yesterday afternoon about the 17 78 ish area In the case of the es mini it will um It it's trying to generate a td9 count top It needs to spike above the current high But it needs to do that between now and 1 p.m And that high currently is 41 41 75, but you know that and so you need to see a spike above that Um That's not like the threshold levels that I gave you for the dow in for the russell 2000 So if it does spike above that between now and 1 p.m We're likely to get a td9 count top there as well In the case of the nq you're only in bar number seven right now So that says you know, we're not going to see anything there until days and the nq is the one that really is Powering things higher Out here real quick. Let me check on the 120 minute charts for you Let's bring up all of them. See if we can find any kind of synergy here On 20 minute equity futures. Let's pull these up and then we'll go over to the request So you've got some parameters to to look at and that are establishing. Yeah, so here On the 120 minutes. It's the es the the dow and the russell 2000 that are going to Confirm td9 count top. So this this candle here that we're in completes at nine at dead nine at 12 noon So you're going to get a confirmed es many td9 count and you're going to get a ym Confirm td9 count and you already have a confirmed one on the russell 2000 So the russell 2000 confirms its count of completes a pattern by 12 noon out here. So in this case Again, the nq is the hold out here and it says i'm not done running higher Out here. Remember, it can be the bar following bar number nine that identifies those tops And lastly, let's just pull up the 30 minute charts. See if there's anything here I think there's at least one But let's just take a quick peek here on the 30 minute time frame And on the 30 minute time frame. Well, we can see here as soon as these charts pop late. Come on Come on delayed delayed. So you've got the es made negated its td9 top immediately the dow's got one right now And that's it So I think it's a 60 and 120 that are going to be a bit better for you in the case of the dow If you get over that high that we're taking a look at on a 30 minute basis out here That's going to negate that signal and say we move higher the s many is suggesting that we move higher Anyway, so that's what we're taking a look at for the equity future contract to help establish what the markets are Taking a look at doing doing doing the rest of the day roger writes in a roger wants to take a look at apple And roger, I was trying to follow your email you came in yesterday So thankfully I was able to locate it We're going to change panels and take a look at a to b equal cd pattern swing points was You were you were looking at more of a traditional versus let's say the stevie methods that I use out here So let's take a look at the apple And so the first thing when you were take a look at retracement I'm going to the bigger time frame here and on the bigger time frame where we're just simply take like What does apple's message now that bigger time frame being the monthly time frame? We're going to go from its swing high That's from uh january 2022 all the way down to the low of uh january 2023 And we can see uh that what apple is doing right now This is a monthly time frame it's early in the month But it is trading above both the top of its profile 168 79 and its 0.786 retracement Now the volume that it's going up against is 2.1 billion It's early in the month no way to for us to extrapolate whether we're moving in with volume or not volume We'd have to look at the weekly and the daily to try to assess that But nonetheless, this is telling us that what apple wants to do is get back to that 182 94 level Now if we look at the weekly chart, so we're going from right to left on the weekly chart It's pretty easy for us to draw in an a to b equal cd pattern now that b point out here Which is the week that began january 30th? At volume of 480 million shares that's never been passed with volume So we're coming up with a lighter volume. Maybe today would be the day I doubt it died. It's not going to be today. It would need another hundred some odd million shares So that's not gonna that is not likely to happen That's not going to happen But nonetheless, you do have an a to b equal cd pattern You don't always get the confirmation But the pattern is present and that pattern shows a 41 retracement on that b to c leg This tells us that more likely than not this will do more than a one to one a to b equal cd With the one to one price projection level 177 11 the one to 1.272 186 14 I think that's more like the outcome that matches what we're taking a look at on the weekly time frame out there If we look at the daily, what do we have on the daily? Well, the daily is going to really show the same a to b equal cd pattern looking on the weekly So there's no reason for us to clutter that chart price is trading above the top of its profile out there You've got really great volume and it's 56 million shares today As I mentioned earlier yesterday the downside it was 81 million shares So we're going to do more volume or it should do more volume than 81 million shares as this thing's most of the upside Now you were taking a look and I believe you were trying to put in Fibonacci expansions So I'm just going to take a look at a Fibonacci expansion from the swing high out here The most recent set of swing points that I've got that that really stick out at me That's the high from the trading session of February 3rd down to the low Of march the second and when we take a look at the expansions of that We are now above the one we're now above the 2.0 expansion and that says we head to the 2.618 expansion That gives us a 179 level So what apple is really signaling to you and I at least at this stage of the game here And I'll flip over to the other charts as I move up to the 179 177 186 and 180 294 all of those suggesting that we move higher now Let's go switch over just to complete the look at the apple out there So hope roger that that helped you out. I tried to follow along as best as I could With your with your charts. That's so easy for me to see it on my phone out there Now let me go ahead and switch over to this set of apple charts Give me a moment This is going to be a multi panel even has the yearly on it and hear what we know about apple So are we in a total breakout mode was a stevie's interpretation of what the charts were communicating to us down I said, we're just in an all breakout mode. No, that's not what I said I was just telling you where prices likely to head to if we take a look at that monthly chart You've got a td9 count enroachment of indicator top not until those highs get taken out Will we have a breakout message if we take a look at the weekly chart You've got you are now in bar number eight of a td9 count That says that apple should top between this week and two weeks out from now Where we're going to get the signal for that that that might happen Well, the daily would be a good place in the daily negated enroachment to indicator top And so not until we get the next bearish reversal signal on the daily time frame Will we perhaps consider that this td9 count top is likely to perform? So it looks like apple Um, you know, it is bullish right now, but it's not like ultra bullish because of that monthly Roadsman to indicator wave number seven and a td9 count top that is present there So roger, I hope that that helped you out and thanks much for the request out there We've got a request to take a look at gush and gush is for s&p Just want to understand the profile levels. I believe that we're out there So let's switch over to the gush chart. So I believe we can get this done before we go to the Uh Before we go to the breakout there gush So we take a look at gush s&p the aster and change line 111 47 profiles are all above it on a daily time frame 1741 So there's no support to the downside. You're below profiles on the weekly time frame Profile was at 127 75 out there aster and change on a 123 66 in the monthly chart for something like gush Totally useless zeroed with tfnn be right old report As a precious metal gold is still king It continues to hold the most effective safe haven and hedging properties across the global major trading hubs of the london otc market The us futures market and the shanghai gold exchange the gold report tom o'brien publishes his weekly gold report every monday morning for subscribers Consisting of coverage of the xa u hui gdx the dollar bonds the south african rand As well as 25 different mining equities with specific buy sell recommendations The gold report New subscribers get a 30 day money back guarantee. 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So let's take a look at a question coming in from hector and patty. Hector says happy fantastic friday back at you Caterpillar a to b equal cd down by the d point is it valid from april 27th? So let's figure out where april 27th is that april 27th So this is where hector is looking at this this candle session Out there and that candle session is not a bullish reversal candle So you can see the a to b equal cd that i've got drawn in here on the Weekly time frame. So no reason for me to redraw that in Um, that would be used in this swing point right here from the daily standpoint from uh, February 24 So the a point would be up here at the high of january 27th and the c point would be this high From march the 6th. So i'd give your a to b equal cd We're beyond the 1 to 1.272 and no that does not confirm that to pattern what did confirm it though Just so you know was this a candle session right here and this was a bull sash candle So it was really april 10th patty and a hector that confirmed that pattern and that set up when you get a bull sash candle It would be the low Of the uh of the candle formation out here And so therefore support is down at 208 94 and that level was tested now There was the only volume of about four million shares that was tested with some big volume 7.7 million shares on that day that you were looking at april 27th So you're you're close. No cigar though But you do have a buy the d-point pattern on the a daily time frame and right now price is consolidating with inside its profile of 211 43 to 221 39 you also ask about john dear de is the a ticker symbol So let's go ahead and get that up and um And here the question is dear an a to b equal cd down to again april 27th So april 27th. Give me a second here april 27th is this Nope This one right there. No, that's a 28th. So the 27th the bar on the 27th Um for for dear. No, that is not a bullish reversal candle out there. Let me uh I do here Let me up. Oh, oh, I know what I did. Sorry Um, sorry folks with multitasking So just kind of like so they were really here. You can see the a to b equal cd to the downside basically making about a 1 to um About a 1 to 1.618 real close to it And so this was confirmed a couple different times So the first a to b or buy the d-point hector and patty on the daily base was confirmed here on april 10th In april 10th, you had that nice big old bullish and golfing candle And that's what you had here on the trading day of april the 28th So maybe your question was did that that candle session Form a by the d-point. It was the session afterwards technically, but is that low the valid low or support it is 37185 out there Now look in the case of john dear, you're trading below the bottom of it So weekly profile not exactly great out here the monthly Um, I don't have a reason for it to continue to head lower But that trend line sure looks appetizing, you know, we're trading below profile on the daily time frame So john dear is far from out of the woods so to speak So hope that helped you out with both those instruments Thanks so much hector and patty and have a fabulous friday and a fantastic weekend Let's get to our next request the next request is for nsc And that is from roger and so i'm going to switch over to the other charts out here And roger is looking to possibly exit some long positions. So we take a look at that this instrument What do we have out here? Well, you've got a consolidation with inside the current profile or trying to get back inside the profiles What I really should say 207 07 You have a td9 count top Took price lower Into a swing point the swing point had volume of 1.4 billion a million shares And it came down with 1.5 million shares And yesterday I was testing that swing point with 1.3 million shares So I don't know that this is this is in somewhat in somewhat of a consolidation oriented type pattern Roger the daily time frame says if you're looking to take this off What I would do is I would wait to see assuming that it closes above 207 07 today What does price do as it gets towards this swing point low? This is the swing point from april 21st. The low is 211 43 Is moving into that with more than 3.4 Million shares and if the answer is yes, well, then it's likely to at least get to 213 38 Maybe even take out that swing high at 215 18 If it's moving in with light volume Then 213 38 would likely be the resistance level out there You've got a wonderful td9 count bottom on the weekly time frame But the issue there has price been unable to clear that oscillator and change lines So 210 14 would be another area to consider taking price off at the monthly chart just not helping us much at all You're likely to get a close higher today. That'll give you a two-bar potential two-bar knee jerk reaction out there That's certainly the way that has been on a couple of these rallies out here for it So I would expect to see a I wouldn't be surprised to at least see a one to two-day pullback That begins on monday or tuesday of next week. So I hope that helps you out With regard to nsc bob and spokane Want to take a look at ptr a petra? So let's go see if we can load that up here. Where did stevie put that? Here we go. So this is ptr a Uh, let me actually I'm sure that some of these are off just a tad with regard to where they're trading I show a buck 39 notice a buck 39 I don't recall the question might have been just to look at it trade above the top of the daily profile It formed a rogement to minicator bottom It does that in april 27 You're potentially going to get a confirmed rogement to minicator bottom On the uh on the weekly chart But what price really needs to do is get back above 152 It doesn't have to do it today But you're looking for price to close above 152 on a weekly base So then suggest a rally up to 243 nothing on the monthly time frame out there Um, really that much else that I can I provide to you bob Other than let's look at a 30 minute chart. I do see a td9 count top So here if this is going to head higher today You'll need to see it close it today or tomorrow or Monday I guess I should say it would be a close above 142 That's the td9 count top It hasn't broken down or anything if it did break down price would pull back to 130 or 127 Would be the out those targets to the downside. So overall looks pretty good You do have some resistance up in that buck 52 level and that's where price should at least navigate to So I do hope that that helps you out Now the next request coming in I don't I don't have this setup So we're going to have to set these things up one at a time. It is spok It has to be okay. This is for defining time inside our tigers den spok Don't recall if I've ever looked at this, but we are today spooky. It is the uh spook spock Holdings out here. So no idea what's inside there I sure want to know if we take a look at this you could get a Arrosement to indicator top today You could also get a wave number seven top today That is letter g and you have a new profile that formed yesterday in 1307 is the resistance level It is a bullish structured profile defining time. That says you have support between 1213 and 1232 So it looks like you're getting a topping pattern today on a weekly basis says I don't know what kind of topping pattern you're talking about the monthly says I know exactly what kind you're talking about and that's a td9 count top Now that td9 count top is going to go ahead and complete this month The monthly chart is going to get a swing point from january 2021 1.5 Million shares last month you moved into with five million shares. So that's that we should test the top Well, it's done that this month this month though. You're already in with 1.3 million and only four and a half days of trading First 1.5. Wow This thing is really taking a run for it. So it's the daily that you've got the uh concerned with out here And you just need to close but yesterday's high to negate those concerns Otherwise, maybe you just have a consolidation with price pulling back to 1213 to 1232 defining time I hope that helps you out steve roads with tf and we're going to get solar edge the cash indices We take a look at azn. We'll be right back You might think that if you want to be successful at trading in the stock market You're going to need a crystal ball after all it's impossible to predict the future, right? Like any endeavor in life before you decide it's impossible get some advice from the experts You might find that it's not so impossible after all for daily market overviews that give you direction on the key indices selective stocks and commodities Subscribe to the opening call newsletter at tfnn.com The opening call newsletter is written by basal chapman creator of the trading methodology known as the chapman wave The chapman wave up down sequence gives you an edge in identifying price turns Finding the peaks and valleys and stock prices get the opening call newsletter by basal chapman and your inbox every day First time subscribers also get a 30-day money back guarantee if you're not satisfied Let us know and you'll get a full refund within 30 days of signing up tfnn.com educating investors Everything in the universe is governed by the fibonacci sequence This mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market To stay on top of stock patterns you can take advantage of sign up for the fibonacci 24 7 newsletter at tfnn.com When you subscribe you'll get a weekly report from veteran day trader larry pesavento on stocks You need to pay attention to and you can trust larry's analysis after all he's got 45 years experience as a day trader larry will also provide daily charts videos and data on the key markets that he's tracking Expect notifications from larry on market movement You need to act on at any time first time subscribers also get a 30-day money back guarantee If you're not satisfied let us know and you'll get a full refund within 30 days of signing up Subscribe to the fibonacci 24 7 newsletter today tfnn.com educating investors China a shares hot or not If you trade china a shares now may be time to take a closer look trade chAU or chAD Directions daily csi 300 china a share bull and bear etfs china a shares in either direction Visit direction investments.com today an investor should consider the investment objectives risks charges and expenses of the direction shares carefully before investing The prospectus and summary prospectus contain this and other information about direction shares to obtain a prospectus or summary prospectus Please contact direction shares at 8664767523 The prospectus or summary prospectus should be read carefully before investing an investment in the funds is subject to risk Including the possible loss of principal the funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor four-side fund services llc This program is brought to you by vista gold traded on the nyse american and tsx under the symbol vgz Folks our next request coming in from gs mic inside the tiger's eyes looking for a short for solar edge So mic what stands out to me? So two days ago price tested a td9 count bottom There's also a bullish hammer candle. It was the candle session from march 20th now There was volume there of 1.7 million this tested it and rejected with 2 million so it did with uh higher volume Or nearly would have expected that swing point low to be tested again Maybe that happens in the future But right now you had this big gap to the upside yesterday And price is trading with inside its new profile that new profile range. That's where price found resistance yesterday So you want to watch that? mic That resistance 299 44 So that would have been that could be so if you really look if you got a hankering for shorting it There would be more up towards 299 44 than 286 Then we're trading right now, which is 286 0 5 But the better place to shorten from would be the top of the consolidation up and around the 320 ish type barrier out there So and if you look at the weekly chart, you've got a consolidation The bottom of that profile has been tested many times over the last year plus and that bottom is 274 14 So I see a consolidation on the monthly the weekly and the daily out there And consolidations are best sold from from the top of the consolidation versus where it is that you're at right now So I do hope that that helps you out. Let's go to a caller. We've got john and philly. Hey, john. Thanks for calling Thanks for holding. How are you today? Steve, I'm doing very well Excellent. Thanks for your call cbs the uh, yeah, I'm calling you about something. I've never asked you about And that is the healthcare Stock cbs. Yes Charlie victor sammy If you could do a deep dive on the the monthly weekly and then daily My what what I'm investigating is Whether or not We've got any data that suggests we're nearing the end of a decline phase Yeah, um, just remember, of course cbs is not only, you know, a national pharmacy chain But it owns etna healthcare which makes it as much a health insurance company as a pharmacy And uh, I confess I don't understand What's going on Fundamentally with sales and profits To drive the stock from 112 down to uh, 70 where it is now But uh, I am interested in uh, seeing if there are clues Of a monthly weekly and or daily decline About completing Perfect So if we take a look at the patterns that I would use to help us identify a bottom When it comes to the monthly it's an a to b equal cd pattern to the downside It's in bar number six. It's trading below profiles And its next price target area would be where it broke out from and that's down at 56 19 It's trading out right now in the 70 area So the monthly says lower price the only way that the monthly chart would say something other would be for a bullish reversal candle to form Let's go to the weekly chart If I could draw that a to b equal cd pattern in a monthly I'm most certainly can draw that same pattern on the weekly so we know we have that Do we see a bullish reversal candle? The answer is no Instead what we see is price is trading below the bottom of its bullish structured weekly profile It's been below for the last three weeks. It's below a red oscillator and change line This says that it wants lower price The way that the weekly chart right now would generate a bottom pattern because you're only going to be in bar number three So there's no pattern there It has triggered a roadsman to indicator signal If we were to get a bullish reversal candle that would then say it Well, we at least have a bottom on the weekly time frame No idea exactly how it would affect the monthly at this stage of the game and the daily time frame Price is moving lower do it less relative energy trading below profiles trading below red Well, it's trading just above its red oscillator change line right now. So this did gap to the upside. So, okay So you have a gap to the upside john in the daily time frame then has confirmed a roadsman to indicator top Now what I would say is more likely what's going the outcome here on a further rally for cbs Was that it would run up towards its profile levels? That's a bullish structured profile And so if this is only a counter trend move price would find resistance at 74 22 It couldn't be 73 69 but 74 22 would be the real key level of resistance to hold So on a daily time frame, you do have a buy signal We don't know whether it will what that will turn into we don't have anything on the weekly We don't have anything on the monthly um This was day number three to the downside or yesterday I should say it was day number three to the downside with regard to cbs. It does a lot of three bar Need jerk reactions at least a one or maybe two bar move to the upside. So that's what we're at right now So based upon that information, what you're thinking You know, I I like when I'm seeing uh, apparently on that monthly chart just doing the fib numbers We're not quite down to the 5 7 8 6 of the three-year programs. We'll get close I do like this idea on that weekly chart here The chaplain wave leg f lower. So that's a pretty far advanced chaplain wave counts. And then you've got that daily with the uh Rows is that the rmi rows momentum indicators. Is that what you call it? I do I do. Yeah Yeah, yeah. Yeah. Yeah. It uh, I just look at all that and say, yeah, we've got a candidate for a bottom Uh, this is and you know how I work steve. I've always taken to heart the um I think it was the quotation attributed to paul tooter jones Yes, uh, where I think he was Being interviewed times. Yeah, and he said yes, indeed I did in fact catch the exact bottom of this that or the other market Having bought unsuccessfully Uh, picking trying to pick that bottom six prior times So, uh, as I look at it as a bottom picker, I'm tempted to uh, Say, hey, this is a candidate for a tradeable low. This is where this is the first time I've seen Uh, it's a setup where you can at least buy And probe for a bottom knowing full well that you don't have a bottom yet in place Perfect. Perfect. Well watch that 74 22, uh level for you and uh, john, is there anything else that I can do for you? Steve you have a nice week on thanks for your help You bet that was john in philly Um, so we took a look at uh solar edge I will yeah, we looked at solar edge and we went to john so now let's get to roger's question Which was to pull up the cash indices just see if we see anything here So with regard to the cash indices make sure in the right about we are The dow could be targeting its oscillator and change line all of these could be targeting their oscillator and change line 33 725 for the dow the s and p 41 33 and the nasdaq on a daily basis sitting at it right now The exact number for the uh oscillator and change line is 13 193 38 If we close above that we're at 13 199 right now That's going to suggest that we get back to its high out here that form that the three river evening star pattern And that's up at the 13 Uh 229 level price close above that indicates that cell pattern out there Um, the uh russell 2000 is above its oscillator and change line So it says more counter trend move the semis are likely targeting their oscillator and change line That's up at the price point of 29 93 The transports are trading above that so a further counter trend move the nasdaq composite already above its green oscillator and change line That says it wants to target the high from just a few days ago that high at 12 261 and york stock exchange likely targeting 15 388 roger. I hope that helped you out. We come back for this break. We're going to take a look at azn for mike In florida, italy and then we're going to look at wheat for honor If you're looking for potential trading setups in the stock market Then rocket equities and options report is a newsletter. You should try Tommy o'brien delivers options and equity trades when the markets present them using a combination of fundamentals and technicals Sign up for rocket equities and options report today with a 30-day money back guarantee So you have nothing to risk for all the details and to start your subscription today Visit the front page of tfnn.com tfnn educating investors You might think that if you want to be successful at trading in the stock market You're going to need a crystal ball. After all it's impossible to predict the future, right? 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Just visit the front page of tfnn.com Welcome back folks. We're taking a look at the stock chart for Astra Zeneca Mike has a friend who's got some nice profits and this is considering Aware to exit so if we look at the monthly time frame chart the right hand side, it's bullish You're above the top of its profile you're above a greenhouse that aren't changed on you don't have any kind of a topping Pattern you do have a signal. It's a rogement to indicator signal But you need a bearish reversal candy if you look at the weekly Although it's not confirmed meaning that the b-point was taken out with volume this did have a td9 count that was negated This is bullish and you've got an a to b equal cd pattern that gives you a price projection of 81 99 So you're asking where is it that maybe would be a place to exit 81 99 ish would be a level Now the daily time frame did generate wave number 7 s letter g a rogement to indicator top And a price did close below the bottom of its bullish structured profile But you're back inside it now. So I would have a real hard time saying sell now If price can close above 75 35, that's the greenhouse that are in change line That will tell you price is going to get back to that 76 20 area And as price moves higher into this that gap what would need you need to look at volume of about as it moves That swing point about 4.4 million shares you're 1.2 today But right now you're consolidating inside that daily profile mike I don't see a reason to sell as far as that price target area. It's up around the 81 99 level Let's take a look at our next request It was a take look at the wheat charts out there and in case of wheat looks like we do have a bottom if we look at the daily time frames w at is what was requested But that requires us to look at the july september and december Contracts for wheat each which have td9 count rogement to indicator tops price right now is trading above the top of bare Structure profile for the july contract and what wheat also has It's got those beautiful td9 count bottoms for july and december of i'm sorry to July and september of 2023 Let's get over and take a look at this next request Which uh, see if i can get there quick enough. Uh, this one was uh cbx we have for cbx cbx Is going to form a td9 count bottom today that should take price up to 163 85 Price did hold its bullish structure daily profile lastly Ibrx let's see if we can get this one into come on stevie. Let's do it ibr and let's azn shoot ibrx stay in this You got to love this your only bar number six on a daily basis this little rocket ship and that rocket ship wants to continue To add higher its next resistance level about seven dollars and 45 cents folks. Have a fantastic weekend I'll see you on margillus magnificent monday. Take care. Be safe out there