 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. January 6th. Yeah, I think today is January 6th. It's definitely the magical Monday edition of today's Trader's Edge show. I'm your host, Steve Perseverance Rhodes, who absolutely knows that each of us should always be pioneers of our future versus prisoners of our past. Hope everybody out there had a great weekend. Let's make sure we have a great week. Thanks so much for joining us. You know, during this next hour here, this next hour, it's all about you. So I'd love to hear from you. I want to be able to take a look at the charts that you're looking at, whatever instruments. Try to give you another set of eyes as to what that instrument may be doing out there. And you can give us a call at 877-927-6648. If you can't call in, well, we've got you covered there, too. We make it pretty easy. Let those fingers do the walking. Send me an email. Steve at TFNN.com. Please put radio show question. Of course, in our Tigers Denwell, any ping will do. So let's go ahead and get this show started on magical Monday. Of course, this is Tiger, Financial News Network. I'm Steve Rhodes. Welcome to Last Show. Right now we've got kind of a mixed bag out here. You've got the dial that's out down 32 points. S&P is up two points, so it's flat. Nasdaq is up 21 points. That's a quarter percent to the upside, so that is not flat. Russell just turned green out here. Semi's are up 22 bucks. That's down 1 percent. So they are the big loser to the downside, so to speak. You've got the trannies off on nearly 1 percent. 98 points to the downside. Spotball of Tilnex is trading out at 1435. I believe that's still above its 50-day exponential moving average. Gold is up 14 bucks silver. Flat right now. Lightsweed Crude is up 11 pennies. Natural gas is turning a negative out there still. No bottom inside of natural gas. The 30-year treasury has gone negative. Now lead the charge dollar-wise to the upside. You've got Google up 29 bucks. Amazon 20. ABI Omed up 11. Or maybe just ABI Omed. Is that maybe how you pronounce it? I still don't know to this day. I needless to say it's up about 7 percent or 11 bucks. A trade desk is up 7, about 3 percent to the downside auto zone. Down 3 percent. That's $37 in change. Booking holdings up 16 bucks. That's less than 1 percent. Market tax is holding down 2 percent. 850 O'Reilly automotive. The devil down 66. So what do we want to begin? Maybe we should just begin by taking a look at the questions that have come in. That way more roll in. We've got more time to look at them. Ian wrote in early this morning and Ian says, I want to get your take on long-term. Want to get your long-term and short-term view on bonds this year? I know you're negative on the market. Not so fast out there. Are you positive on bonds? If not, where would be the best place to hide? I don't think there is a place to hide when the blank hits the fan out there. But just some things will perform better than others. But with regard to your question specifically, if we take a look at, let's start with the long-term. You want a long-term, you said, and you wanted a short-term view. Here's a long-term view. I just caught a little bit of Basil showing. He was talking about bonds as well out there. So it seems like we've got a lot of folks that are ready to maybe short the heck out of this. Now if we take a look at the monthly timeframe chart, what we can see here is that in 2019 this did top with a TD set-up nine-count pattern. TD set-up nine-count pattern or any kind of topping pattern, whether it's a TD set-up nine-count, whether it's an A to B equals CD, whether it's a road momentum indicator, whatever it is, whatever pattern it is that you trade, the next key thing is understanding where support is. So we basically use three areas to identify support. We use Stevie's green line. This is the monthly timeframe chart. And because any time price just pulls back to that, especially when the line is green and bounces off of that, which the long-term timeframe has, then the sellers have done what they were supposed to do. When you get a topping pattern, what you do is you push price down to support. If it busts through support, then we can say, okay, price is going to head down to where it broke out longer term, which would be 136 in 1730 seconds, but we cannot make that statement today. So longer term, you've got a top, but price is now bounced off of support out there. That's the monthly look. If we go take a look at the weekly look out here, so going from our longer term to our shorter term view, what do we have on the weekly timeframe? From its roadmap to indicator bottom to the high, does it with wave number seven. That's letter G on my charts out there. We've got these letters just simply, well, they're part of the Chapman wave tools, but only one small portion of it. The numbers that I use are for the TD setup counts out here. So in this case, price is trading below Stevie's green line, but you can see it's just really consolidating sideways, right? It's been consolidating sideways for a number of weeks out there, but a valid topping pattern. If we go take a look at the daily timeframe, what we're going to see, so we'll use the daily timeframe as our short term outlook. When we take a look at our short term outlook, what we can see is that price continued to push down to where it had broken out. Where it had broken out was that solid horizontal red line, 155, 1730 seconds out there. Now price is trading above the top of its daily profile. It's very possible that price will make its way up to where it had broken down. That was at 16330. No guarantee that that's where it's going to go. We can see resistance in the 160 area out here, but right now price is trading above the top of its box, so the short term view is bullish. The longer term view is still bullish because price has just simply pulled back to Stevie's green line, tested support out there. What else can I share with you or tell you about bonds right now? If we go take a look at just simply the March contract, I guess it's not there. Maybe what I have to do is pull this up. Can I do that? I can do anything I want. So here's the, and what I wanted to really just do there Ian was just understand where are our 30 year treasuries in relationship to their 2019 high and low out here. And you can see it's trading in between them. So there's no breakout to the upside. So to speak, there's no breakdown to the downside out here. Just really more of a consolidation pattern. Your question I believe was, you know, where would you sell this puppy? And the answer to that question I don't have. I don't have just yet. Where is it that you would sell this thing? Let me take a look at. Let me take a look at this. Now, when I say that the short term is bullish, I'm not suggesting that you enter into a long-term bullish trade out there. I would say if you were going to try to take a position to short, it would be up at the top of its weekly profile, which is 159 and 1030 seconds out there. That would be the spot that I would be looking at to go short. Otherwise, I would stay out of this game, so to speak. And so to answer your question, there is a move to the downside. And we have every reason to suspect that there will be. The baby will get thrown out with the bathwater out there. So not necessarily any place to hide. And if there were a place to hide, we would see it. You and I would see it. How would we see it? Well, one way that we would see it, one way that Mastering Probability subscribers will see it this year is by really taking a look at what that global flow of capital, where is it headed to? Now, this is taking a look at just simply a number of instruments, the global flow of capital, since we came back to begin 2020. Right now, actually, the biggest performer is LightSuite Crew. LightSuite Crew is a big performer. Gold next, Goldman Sachs Commodity Index, but I don't know what's inside there. It could be gold and LightSuite Crew, basically flat for the doll and the S&P for the... Top Flight Software Applications and Technical Analysis Expertise is essential to successful trading in today's market. You also gain access to the webinar that Steve Dahl and Tom O'Brien just hosted, the best way to use the Taz Profile Scanner to profit. This webinar archive is available for all subscribers immediately upon signing up. All new subscriptions also come with a 30-day money-back guarantee, so you have nothing to risk. Start your subscription by visiting the front page of TFNN.com today, and you'll find the Taz Profile Scanner under the Services tab. Sign up today. 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And so when I was answering Ian's question, first he said the message was, part of the message was that I was bearish on the market. So let me, and then I just mentioned that comment and so let me make sure that I'm clear on that. So we take a look at the charts out here. In this case, I'm just taking a look at one of my tools. It helps me in a second understand what's topping, what's bottoming, where are things at, just using some of the tools out here and some of those tools being that road momentum indicator top and bottom signal. So Ian, you and everyone else should be concerned of the number of different topping patterns that we have in place for the indices out here, both inside the cash indices as well as the S&P sectors, let alone the futures contract. And if we go all the way over to the right hand side and you know how we use the TD set up nine count pattern, we know that when that pattern forms its tops or bottoms, it is typically done on or what we'll call a valid pattern would be done on either the higher low on bars eight, nine or the bar following nine out there. So we've just started a new year. We don't know what 2020 is going to bring, but when we take a look at the right hand call there, you're going to see eight and you're going to see a star. What's the star telling us? Excellent question. The star is telling us that it's a valid pattern. It's telling us that the high so far is still in place out here. And so when you take a look at the yearly time frame, we've got a number of different topping patterns and signals. We've got the monthly and daily signals out here. So this is absolutely a time for caution, especially as we come into that seasonal time period where we begin to see the market pull back. The question is when it does or if it does, how are we going to know if it's just a retracement, if it's just a normal pullback or some type of change in trend out there? And very much like we took a look at the weekly time frame for the treasury bonds out here. I was looking at the left hand panel when I said, hey, and if you really want to sell, then that price bounce up into resistance. The resistance level we found was 159.10. That was the top of the weekly profile. Now, the same thing would really be in place, the opposite, right? Where would you buy? Where would you buy something? You would buy an instrument that's pulling back into support. Well, let's go take a look at the daily profiles out here. And the weekly profiles, quite frankly, that are attempting to form inside the equity futures contracts just so you get a feel for what's going on. If we take a look at it, just look at the left hand panel right now. The bottom of the daily profile is 32.16. It's trading, the ESMini is trading out at 32.37. The top of its daily profile is 32.41. So if you were going to sell, and there's reasons, there's absolute reasons to sell, it would be in the 32.41 to 32.44 area. Why? Well, as I mentioned, there's a brand new weekly profile that's attempting to form. Now, the problem with using these weekly profiles is that we just recently had the rollover of the contract from December till March. And so the data that's being used to generate these weeklies and what we have up on the screen here happens to be the March contracts for the equity futures contract using Stevie's advanced tools out here, the super Doppler tool, to help us identify new profiles that are attempting to form. So if you do take a look at the ESMini, there's a new box using the March contract of 32.44. But let's see what happens here from a weekly perspective. Let me go change this. Well, that's the NQ. Let me just do it for the NQ. Let me just do this here. Let me just change the... We're on the daily time frame. I want to just turn those daily profiles off. So let me just do that. I'm just showing the top and the bottom of the box out here. So now I'm going to turn the top and the bottom of the weekly profile on. This is using, so you've got top and bottom. This is using my synthetic version. So the synthetic version allows me to stitch together all of the... It's slightly different than the continuous contract out here. It allows me to stitch together everything in a very organized format. So I can go back historically and take a look and put whatever tools I want and profiles out there. So here we can see that you've got the... Using all of the data, it says, ah, Stevo, don't be even thinking about the weekly profiles. Now when I change over to this, you're going to see in the NQ, panel number two, oh, I'll be a son of a gun. It actually disappeared. It was there. Let me switch over to the ES Mini. Okay, all right, go ahead. That's the way the universe works. Decides it's going to go ahead and stick its tongue out at me. That's okay. Won't be the first, won't be the last. So now let me switch over to the ES Mini and we'll see here. It's profiles on the synthetic version. The weekly should pop up here after it calculates. Now here what you're going to see is the top of the new weekly profile. Using all the historical data is $3187. And prices above that level. Whereas when I go back here, take a look at the March contract. Same tool that I'm using, by the way, out there, my super Doppler tool. This is showing that price is trading with inside the box, $3244. So what do you do from here? You've got this data. You've got to do the best you can and use all the data out here. If you're looking to sell into this market and I can justify doing that, I can justify it and we can go take a look at that. Then the $3244, then use the top of the daily box, $3241. And quite frankly, if price closes above $3254, that's the 2019 high out there, then that's telling you you're on the wrong side of the trade. Now, luckily for you and I, we don't have to just rely upon the ES Mini profiles. We can go take a look at the NQ and the NQ is trading above the top of its daily box out there. So that is certainly in a version of a breakout mode. When I say a version, what do you mean by that? A version? You tell me there's different versions out there, Stevo? Yeah, well, when I say a version, $8843.50 is notated on this chart. That is a 2019 high. Now, market can't break out. It can't break out. It can do whatever it wants. I say that it can't break out until at least it's trading above the 2019 highs, $8843.50 in the NQ, $287.21 for the Dow, equity futures contract YM, $1687.80 for the Russell 2000 equity futures contract, $3254 for the ES Mini out there. So, okay, Stevo, how is that going to help you? It just says these, and if you take a look at the Dow, it's trading in between profile. I guess the point that I want to be able to make to you, Ian, is the following. There are many bearish patterns out here. Many signals. But until we see price breakthrough support, just like the Dow, not the Dow, but we took a look at the long-term Treasury bond. We saw the monthly chart. We saw a topping pattern. Price pushes way back to support, and it holds out there. That support becomes buying opportunities until it starts to fail. And when it fails, we get two closes below support. That tells us we're headed lower. We've got to look for the next pattern to the downside out there. So, hopefully that helps you. I'll let me go on to the next question that came in, and this one was coming in from Jim, and Jim wanted to take a look at ticker symbol MJ. MJ is the alternative harvest, so it's a pot ETF out there. And, Jim, specific questions, can you look at MJ and let me know if you're seeing any bottoming patterns? So, let's look at, here's the bad news. We'll start with the bad news, because we'll take a look at our three different time frames using our market profiles. The bad news is, price is trading below the bottom of the daily, bottom of the weekly, bottom of the monthly. Price right now is also trading below the 2019 low. No, I take that back. But it's trading below support. Support of the bullish and golfing candle from a few days ago. We'll take a look at it at 1657. So, Jim, that's the bad news. I'm going to go see if I can find any good news for ticker symbol MJ alternative harvest. We'll be right back. We'll be right back. The path of least resistance is David White's daily trading newsletter. And if you're looking for active trading ideas, then now's a perfect time for a 30-day free trial to this powerful daily trading advisory service. 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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 Chart today by visiting TFNN.com. Welcome back, folks. We're studying the chart of ticker symbol MJ. That's the Alternative Harvest ETF. Before I went to break, I gave you a figure of 1657. Now, that was the weekly bullish engulfing candle. We can use the low of, in this case here, the two candles. That was on a weekly basis. There's a daily bullish engulfing candle as well. And that's at 1611. So your go-no-go is a close below 1611. It's not looking good. But let's go find the good news out there. So I want to make sure you have those numbers. You asked, is this forming a bottom? If we take a look at the daily timeframe chart, what we can see here is there is a rose momentum indicator bottom that formed back on November 20th. And that low has not been taken out. And maybe all that's going on in the case of MJ is just to pull back to test DV's red line. That number is 1636 as we speak right now. Stock is trading at 1649. So the answer is on a daily basis, you have a valid bottoming pattern. To the extent you want to take a trade in it, now would be the time or a test of 1636. You don't want to see this close below that 1611 or certainly what you really don't want to see now close below is a low from November 20th. That would be your key area to be looking at. So is there a bottoming pattern on the daily? There is. Is there a bottoming pattern on the weekly timeframe? Let's go pull the chart out here. Take a look at it. We can see that price has been pushing lower, doing less route of energy. There's your bullish engulfing candle. So the weekly is saying, yeah, this is really trying to form a bottom. Price is trading above Stevie's green line, which is $15.95. So again, just watch out for that daily support, that low out there. With regard to the monthly timeframe, as we take a look at it, what we're going to see is that this could be or should be bar number nine on a monthly basis of a TD set up nine count out here. So it's possible that the lows will get taken out so that bar number nine, the month of January, or it could be the month of February, bottom could form on either bars nine or the bar following nine. So you've got bottoming signals out here. The monthly chart, if you're looking for the long term, is saying be a bit more patient out there. So Jim, I hope that helps out with regard to MJ. Thanks so much for writing in. And happy new year to you. Next question coming in from Raymond. Raymond writes in, he says, I've got a position in crowds or CRWD. So let's go take a look at crowd strike. That's what that is. Let me pull this up here. Sorry about that. Let's get to actually get that on the chart so you can take a look at it. Nice day here today with big volume behind it. 17 million shares so far trading above the top of its daily profile, which was 51.66. So it looks like what price is doing. Well, shoot, it's taking out the top of its bearish structured weekly profile, which was 52.73. Let's take a look at the question. I've got a position in at 51 bucks. My upside target is around 60. Okay. And I'd like your opinion of the target. So let's go take a look at targets for crowd strike. So CRWD, see if there's any kind of bottom signal. Sure. They're saying bottoms back here with a TD set of nine count and a road momentum indicator bottom. It does that on October 23rd and the 24th out here with regard to resistance, resistance right now on the daily base. So if you understand the 60 and there you just simply be using your Japanese candlestick tools, you're looking for where's that next area of resistance. It would really be the high for the trading session of November 30th. If that's what the approach that you want to take and that high is 59.50. So it's close to 60. If price able to close about 59.50, then your next targets to the upside are 63.61. That is where price broke down when it formed that last TD set up nine count bottom and above that would be 69.46 out there. So crowd strike on a daily. I see your 60 area slightly below that, but I also see some further upside potential that price can take out that. I don't remember what it was, 59.50, something along those lines. If I look at a weekly timeframe chart out here, this bottom is the TD set up nine count bottom. It does that last year. So you've got a nice bottoming signal inside of crowd strike on a weekly basis. And on a monthly timeframe, you know, may not be enough data because of this as being an IPO out here. It's not enough data to provide us with anything. Yeah, there's really not. So you've got the additional upside targets. Best of luck with that trade. And a nice move on your part. And that was from Raymond. Let's see if we have any other questions. I don't see any other questions. So let's go ahead and surf around. I don't see anything inside of the den. If there is, please retype it in again for me. I would appreciate it, but let's just continue surfing around the market. We see what, so I'm just trying to, let's take a look at, just look at some of my tools and charts here. See where we go. What is this? Well, that we already talked about. Apogee and perigee. So let's take a look at where the markets are trading in relationship to that important pivot point. 32, 37, 50 for the ES mini is the number. We're trading at 32, 37 right now. If we see two closes on a 30 minute basis above 32, 37, 50. It's telling you that price wants to continue to move higher. This could be a place. We gave you what 32, 44, I believe, was the top of its daily profile is a place to go ahead and sell the market. If you were looking to do that, this would be another spot 32, 37. Fairly nice, wide-ish ranging bar during that last half hour coming into the 130 timeframe. So I'd be cautious with regard to that. That's not typically how you like to see an instrument coming into an area that you want to sell. You'd prefer to see smaller body candles, smaller body candle tells you there's less conviction than one that in essence opens at the bottom of the candle, closes at the top. And when you take a look at the past several hours, it's the widest ranging bar that's out there. The Dow is up above its key level of resistance, 28, 570. The NQ, well above the top of that resistance level at 87, 76, and the Russell is down below. So what is Stevie's saying? Stevie's saying, look, folks, if you see the ES mini above 32, 37, that's giving you a signal that it wants to trade higher. If we take a look at what's going on inside, just simply what's transpired this year already, only a few days into the trading session. But I had mentioned earlier when we're taking a look at T-bonds, it's important to understand where were the highs in 2019? Where were the lows in 2019? Where is price trading in relationship to that? Because if price is trading above those highs, it's telling you that you have some type of a breakout that is going on. Of course, you want to be able to identify other levels of resistance out there. So here we can take a look at nine different instruments. On the very left-hand side, you've got the ES mini, the NQ, and the Russell and the Dow. You can see that the NQ is above. It's 2019 high. So he or she is sitting in a nice bullish breakout level. We really referred to that when we took a look at how price was trading above the top of its daily box. So now you got a twofer. You've got two signals inside the NQ that are saying, not so fast, not so fast out there. If you take a look at New York Stock Exchange, Russell, and the Summys, you can see they're trading below their 2019 high. So no breakout going there. You look at the S&P, the Dow, and then the Nasdaq Composite. Well, one of the three is breaking out. You can see that is the Nasdaq Composite. In fact, on a closing basis, it found support. At that 90-22 level, that's a 2019 high. Gold right now is trading above its 2019 high. That's 1560, 760. You'll want to pay close attention to that. And then we take a look at silver well below the 2019 high. No breakout going down there. And bonds we had referred or we had touched on that a little bit earlier. If we take a look at market breadth out here, one way to take a look at market breadth is look at the New York Stock Exchange, the advanced decline oscillator. That is panel number two. What we know is that when that oscillator reading is below zero, which it is not right now, right now it's a 2019-14. So above zero, the basic interpretation should be that buyers are in control. When it's below zero, sellers are in control. Now, when price goes up above or below on day one, you've got to have a follow-through on day two. But right now, on a daily basis, the market breadth of the New York Stock Exchange is bullish. Steve Rhodes, and that ain't no bull. Steve Rhodes with TF will be right back. The best rate for a four-year CD in the country as of February 20th is 3.1%. A $50,000 investment at a normal four-year CD rate of 3.1% would give you income of $1,550 per year or $6,200 over the four-year period. That same $50,000 investment in a Tiger First mortgage program would give you $3,500 per year or $14,000 over the four years. What should you prefer? $6,200 or $14,000 of interest on your investment. If you'd like more information about the Tiger First mortgage program, you can call me at 877-518-9190. That's 877-518-9190. To get to the next round of the Tiger First mortgage program, you'll need to check out the latest news subscribers. Get to test drive our newsletters risk-free for 30 days. 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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. Don't forget, you can listen to TFNN live on your mobile device 24 hours per day. Go to TFNN.com and hit Watch Tiger TV. That's TFNN.com and hit Watch Tiger TV for the latest market information. Welcome back, folks. That was off 11 points right now. Somebody says still the big leader to the downside of 22, the trannies are off 109 points out there. Let's continue surfing around some of the charts. He keeps calling 877-927-6648 if you'd like or send me an email. Steve at TFNN.com. Let's take a look at the VIX just for the heck of it. Where's the trading? So it's trading still above its 50-day exponential moving average, which is 1368. That would be a level to be watching. So when it's above its 50-day, nasty things can happen in the stock market. And it is right now. We've got these topping signals. So let's actually zero in on the NQ. I think that that's what we should do because that's the strongest of the four indices. So we need to see what it's doing for different timeframes out there. So to begin with for the NQ, actually, let's take a look at this. We can see that price ran into resistance in an area where it should have. This is taking a look at a monthly timeframe chart. By the way, what you're looking at are daily, weekly and monthly horizontal trading ranges. Those of you that are longtime listeners here at TFNN, Bud Rolfs is the individual that taught us about primary trading ranges. He uses that tool differently than I do. I've utilized a portion of that automated it so that the system automatically picks out the horizontal trading range boundary levels out here. And in my case, because as Bud had taught us, we're always taking a look at the open or closed, the body of a candle out here. In my case, therefore, I don't carry the dailies over and say the dailies have to be equal to the weeklies. That's why you see some different numbers out here. But what you can see is just this congestion in the 88, 40, 89, 27 area. You're looking at the upper right-hand corner and that's a resistance level. Okay, so your resistance. That's important to know. Let's go take a look. Let's start on the 30 minute and work our way up. So we're going to take a look at 30 minute NQ. What signals did it generate for us? Well, first, at about 5 o'clock this morning, it generated a TD set up nine count bottom. That bottom is very valid. As the cash market opened, we saw a little bit of a thrust to the downside. But all that that was doing was creating a nice big old bull sash candle out there. More importantly was price was able to break above, close above resistance, which was its TD nine count breakdown level, which was 87.90. That's what identified the bottom. Now price is above the second breakdown level, which is 88.24. This is the 30 minute time frame. If price closes above 88.49.75, it's third 30 minute breakdown area. It's just telling you that price wants to continue to move higher. Nothing bearish when we take a look at the daily time frame, not the daily, the 30 minute time frame for the NQ. How about the 60 minute time frame? Well, the 60 minute time frame did complete a rose moment to indicator bottom. It did it before a key level of breakout support, which was 87.16. And this suggests at this stage here that price inside the NQ could make a run all the way up to where it broke down on a 60 minute time frame, which was 89.06. But as we speak right now on a 60 minute time frame, nothing bearish about this chart. In fact, just more bullishness about that chart. We go take a look at the two hour time frame chart, the 120 minute time frame chart for the NQ. We know that price held support at 87.16. TD9 count breakout area. Price should find resistance at the top of its current two hour chart, which is 88.55. But it's above the center. We can see that Stevie's green line had turned red as that area was being tested. That was on the prior bar out here. So it looks like to me, this is communicating to us, 88.55 is its next price target. Now it doesn't tell us whether it's going to do that between now and the end of its session or overnight or anything along those lines. So here if we take a look at the 240 minute time frame chart, we can see that price held support. It's TD setup breakout support, both at 87.07.50 and 87.16. You can see the bullish reversal candles that occurred as price was pulling back to that support level. That makes these, it just shows you the power of understanding a TD9 count and its support or resistance areas. In this case here, price is above Stevie's green line. This is the four hour time frame chart. 88.61 is the next upside target. That's about another 30 points under 30 points to the upside that's using the four hour time frame. We've got the five hour time frame because we have that five hour energy drink out here. In this case, we can see that price also found support, 87.07. Price is right now trading right up into resistance. That number is 88.37. 88.37 is the number to be watching. So the five hour time frame chart says, hey, here's my consolidation zone. 88.37 at the top, 87.07 at the bottom. You see price closing above 88.37. Well, it's at least telling you price should move to 88.64, the top of the five hour time frame. Of course, every time frame is going to give us new information. So it depends upon which time frame it is that you're trading. But what's really what we're trying to do is we're just saying, hey, look, the NQ is this lead dog out here. He is the strong one. So let's go take a look at it and try to figure out what it's doing. So the level, I'd say the level to be watching right now is coming from that five hour consolidation where price is traded in between support and resistance of its CD9 count levels. On the daily time frame, we can see price if this is just a counter trend rally, then it's going to stop right now. Because that's where Stevie's green line is at. So you've got Stevie's green line on the daily basis lining up with a breakdown level on the five hour time frame, which also tells us if price continues to move higher that we're probably going to make a run back towards the all time highs if not beyond that. So that's what we have on the daily time frame. But I can make for those that are aggressive traders that now would be the time or approximately now would be the time to begin that position to the short side. Am I recommending that? I'm not. I don't see the short term time frame signals that are also supporting that. And if we look at the weekly time frame out here, what's the weekly time frame going to tell us? Well, weekly time frame just simply says that it's just bullish. Until price closely below Stevie's green line, which would be 86-42, what the NQ is saying on a weekly basis is I want to make a run to at least complete my one to one A to B equal CD pattern. And that would take us up to 90-45 and some change out there. So there's our NQ. We know we've got some resistance both between its horizontal trading ranges, as well as Stevie's green line on the daily and its TD set-up nine-count breakdown level on the five-hour time frame. But price is just up at resistance. So again, for those of you that want to take an aggressive stance, which I can definitely understand, I'm not going to do that, but I could be dead wrong here. We can justify that now would be the time. Let's say continue to pay attention and watch the NQ out there. We could do the same thing for the ES mini, but we won't. Let's go take a look at some other instruments that I think folks have some interest in. Let's take a look at gold. If we take a look at gold, here we're taking a look at its horizontal trading ranges, both its weekly and its monthly. We can see that last night as the Gold Futures contract opened up, price gapped up about 1561. 1561 was the weekly resistance level. I don't know where price ends this week. 1601 is the next monthly horizontal trading range. So you can see that's your resistance level about 1601. Price closes under 1561. You're just back inside the range, which basically then communicates to us that right now gold would be trading between 1600 or close to that in 1462.70. That would be its monthly set of horizontal trading range boundary lines. Right now we got the Dow down $3.33. The S&P up $3.13. We'll be right back. Since 1984, Basil Chapman has been using the Chapman Wave methodology to advise traders of his expert market opinion. While originally hand drawing charts from the late 1970s into the 1980s, Basil noticed that prices under most circumstances virtually always had a certain number of legs to the upside before declining sharply. Later, Basil found that computer software which included the standard market technical indicators enhanced the degree of accuracy in calling price turns as well as market trend calls. Thus was born the Chapman Wave sequence. Using the Chapman Wave methodology along with other indicators, Basil Chapman advises his subscribers of his expert market opinion each market day with his opening call newsletter. Right now you can get a two week free trial to the opening call Basil's daily trading newsletter by visiting the front page of TFNN.com. Cancel it anytime during that trial and pay absolutely nothing. Get your two week free trial to Basil's newsletter of the opening call today by visiting TFNN.com. 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Buy it today for just $89. Click on the Primal Edge banner on the front page of TFNN.com. This is David White. Stay tuned because coming up next is the power trading hour right here on TFNN. Folks, Dow trending just slightly green. We're at $23.23 out there. So as we go to the two-minute wrap up right here, let's take a look at it. We didn't talk about natural gas. I think I mentioned it earlier. Natural gas is not a buy. Not a buy. Not at least just yet. We take a look at this. This is why we utilize some of these tools out here. Stevie's Green Line, Red Line. Very important. You can see that what price did today was nothing more than a counter-trend rally right up into resistance. Stevie's Red Line. Now Red Line is, when price is moving lower, is more bearish than the Green Line. The Red Line tells us the price oscillator. That's a difference between the 19 to 39 day exponential moving average of price, but it tells us the price oscillator is below zero. The expression is there's nothing more bearish than a failed bullish pattern out here. Well, bullish from the standpoint, price is unable to get above $2.16. That is Stevie's Red Line at the moment. That was a rejection. It says it wants lower price. Now, the good news might be that we could see a low here in the next couple of days out here. Friday was a wave count number six, letter F. Don't worry. I'll eventually figure that out. Could be a letter F out there. That was your 1 to 1.618A to B equals CD pattern. No bullish reversal candle. So maybe it's getting close, but right now it is no cigar. And so I would not suggest being long natural gas, at least in taking a look at the daily time frame chart for it. Silver, we mentioned, is kind of flat out here. It's up about three pennies trading out at 18, 19. It's trading just slightly above the top of its box out here. It's daily profile. Today is going to be bar seven of a TD set up nine count. The last high that formed out here in Silver took place back on bar number eight of a TD set up nine count. That was back in August. So that says that tomorrow, if it's going to follow that pattern, could be a top. For hi-ho, Silver. Folks, thanks so much for being here. Stay tuned. My favorite polar bear, David White. I believe he's back from a nice rested vacation. Tom O'Brien, take us on home. We'll see you tomorrow on Truthing Tuesday.