 The following is a presentation of TFNN The Trader's Edge with Steve Rhodes Toll free at 1-877-927-6648 or internationally at 727-873-7618 The Trader's Edge Now Steve Rhodes Good day folks welcome to the December 3rd 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 is having a great day. Hey, let's make sure we have an extraordinary one and the easiest way to do that It's to always remember that life is happening for us not to us That's right. We need to make that one little two-by-four shift means we can find the gift in every set of circumstances that life Is going to toss at us now today you and I we're going to check on the circumstance of these markets We'll go figure out what those bulls and bears with those buyers and sellers are communicating to you and I just Passed one o'clock in the afternoon although it has just passed eight o'clock in the morning So if you're listening to the normal slot will make sure that this show is as pertinent as it can And thank you for listening during that time period But if you're listening here at live at 8 a.m. Would love to hear from you You can always give us call it 877-927-6648 if you can't call him what we've got you covered there, too Go ahead send me an email send it to Steve at tfnn.com and inside the subject adding please put radio show question Of course in our Tigers then will any and every ping will do so let's go ahead and get this show started on Fantastic Friday, of course. This is Tiger Financial News Network. I'm Steve Rhodes. Welcome to the show right now We've got all the US indices US indices the US equity futures trading higher the Dow is up by 79 points the Nasdaq up 57 the S&P 12 the Russell's up 11 In Asia last night a little bit of a mixed bag. It was the hang saying that finish lower We're gonna take a look at those indices out there in your in Europe right now You've got both the German Dax and the FTSE in the UK trading higher about a half of a percent gold is up Eight bucks silver up one penny. You've got late sweet crude trading out at 68 31 That's up a buck 81 the 30 year treasuries up six six. She's trading out at 162 17 so let's begin the day by just going and seeing what's going on in Europe We sort of have kind of a one-world market so to speak and there's certainly information that we can glean from what's going on there So we begin by taking a look at the Shanghai. That's in the upper left-hand corner What you should notice here is Shanghai confirmed a by the D point It did that when it generated this hammer candle right back here on November 10th That was also it had a already a confirmed TD 9 count pattern That still remains in effect out there and now it took place last night is price closed above its TD 9 breakdown level That's at 37 60 231 it also closed above the swing point from November 24th And that then and that was a resistance level because the bearish engulfing that took place on the following training session So now what the Shanghai has is an A to B equal CD to the upside you might ask me Where's that first target? We'll just draw the A to B leg in here and then we'll just simply move that to the C Oops, we'll try to move that from the C to D area Go right there and so about the 38 60 ish type area would be the one-to-one price projection But the Shanghai a week get much weaker than the US out here has a confer now as a confirmed A to B equal CD to the upside In the case of the hang saying this formed a TD 9 count pattern It did it back on November 30th since then we've had some sideways movement here What the hang saying is doing is targeting its oscillator and change line. That's at the 24 109 43 level That's where it's at right now It's not gonna hit that to the T as price moves up and down that line will also move up and down if we take a look at The Nikkei the Nikkei has a buy the D point. I'm sorry. It has a TD 9 count Yeah, just a TD 9 count in there So the Nikkei should also targets the oscillator and change line at 28 639 So these three core indices over in China are telling us what? They all have bottoming patterns the Shanghai should continue as a confirmed A to B equal CD to the upside the hang saying in the Hang saying in the Nikkei should also continue higher if we look at the DAX out here The DAX confirmed a buy the D point two days ago It did that when it created this three three river morning star pattern It's three candle formation it can be accomplished in four or five candles But this is a three river morning star candle support is the bottom of that pattern support is down at the low of 150 15 here you can also see the oscillator and change line had changed colors It did the same thing inside the Nikkei that adds to the idea That price should go target that level the oscillator and change line the case of the Hank saying going back to it It's also doing change line had changed colors and price closed above it That was telling us and and then a turn had turned green that was telling us about a bullish indication for it Now in the footsie all the footsie has is price pulled Ballot actually has a confirmed by the D point it did that a couple of days ago with that bullshit golfing candle What we know about the footsie is it form wave number seven? That's letter G as part of the Chapman wave count out there oftentimes can identify a top or bottom and price pulled right back To where it had broken out now set the 69 95 87 now prices trading between support We know that 69 95 87 and support and resistance, which is that oscillator and change line See how it had changed colors here So today is pretty much or very close to a test of that level a test rejection of footsie would be negative It suggests that price might go back and retest that breakout level of 69 95 the US dollar index out here This I it's just rolled over into the March contract out there So this I have a synthetic version of the US dollar index and it shows that price is just consolidating Inside its daily profile. So that's what it's doing. I'm not gonna ignore. I'm gonna ignore the profile levels that are out here The euro is has has what this has a by the D point that was confirmed with a three river morning star pattern As long as price remains above its oscillator and change let it should target that one point one six zero level and inside the yen out here It's found support it has held support which was established back on November the 10th, but it just simply formed that bullish engulfing candle out here So it's held support looks to me like the yen wants to weaken get up to about the 114 11 area that will put a little bit strength inside the US dollar index if that unfolds. So in summary here Support levels have held. We've got bottoming patterns suggesting higher price. What does that mean for the US markets? Well, it means when the US we should see the same kind of things out here in the US We'll go take a look at its equity future contract. So what do we know about it? There's really only two bottoming patterns that have completed out here and that is for the Dow That's the bottom ym that formed a TD 9 count. You can see its oscillator and change line has recently changed color So price net line have a date with each other right now That line is printed out at 35 162 the same holds true for the Russell 2000 it to formed a TD 9 count It's also during change line also recently changed color. So price should target that level 2274 I'm not saying it pre at targets that level today, but it should target that level now the Dow Ym just went ahead and inserted the new market profile that formed out here and it did form and it's really an interesting one It's a bowler structured profile. It shows you support here at 34 322 and prices sitting right now at the center of that a bowler structured profile So here's my experience my experience is this when price closed above the center of a profile by the way the center level Let me give that to you 347 17 odds favor that price will go target the top of the profile But before price get to the top and it's way up there It's up at the 35 900 level has me scratching my head just a tad But before price can get up there its first target is going to be that oscillator and change line in a 35 164 so the call on the Dow and the Russell 2000 is much easier because of the bottom patterns in the case of the The nq it's not it has an a to b equal city to the downside hasn't completed it prices still below the bottom of its daily profile We'll call the the the bounce that's inside the market right now We're going to use the nq as our key out here Everything remains in a countertrend bounce at this stage here and that's unless we see the nq close above 16 134 the center of its property That's right Information having all the information gives us the perspective We need to place the right trades at the right time The TAS profile scanner is the premier market profile base scanner powered by its acclaimed TAS proprietary algorithms This feature rich scanner instantly filters over 2,500 plus global financial markets such as stocks ETFs commodities futures and forex this powerful suite of tools Leverages instant trade filtering and strategy formulation to show you emerging trades Before they happen for a limited time You can save $100 off your first month by using the promo code upgrade and you still get a 30-day money back guarantee So you have nothing to risk Level the playing field with the TAS profile scanner which you can find under the services tab at TFNN comm Sign up today Are you in the market for buying or selling real estate in the Bay area including the surrounding st. Petersburg Tampa and Clearwater markets Tiger real estate LLC is a firm that has extensive experience in the Tampa Bay area whether you're looking to sell your current property for maximum value Or you're in the market for a second home or investment property Tiger realty has the experience across all areas of real estate in the Tampa Bay area to help buyers and sellers make the most informed Decisions across all price levels from the price You should be paying per square foot in certain up-and-coming areas to the type of cash flow investment properties are capable of creating Tiger real estate can help you make the best decision when it comes to all areas of the market before you make one of the Biggest decisions of your financial future call Tiger real estate LLC today at 727-329-8322 Or email us at Tiger at TFNN.com that's 727-329-8322 call us today Sharpening your skills as an investor is like getting better at playing a musical instrument You have to practice sure but you also need excellent instruction from experts at TFNN You'll get advice and guidance from the authority and technical market analysis, and it's not just dry tedious text either TFNN airs live financial content streamed live on TFNN.com and TFNN's YouTube channel with Tiger TV Live every market day from 8 30 a.m. To 4 p.m. Eastern for free each host is an experienced trader and gives their take on the market while taking calls and questions live from around the World from the moment the market opens until the closing bell sounds Tiger TV has eight different shows with expert hosts to help you make the Right moves with your money watch online at TFNN.com or on TFNN's YouTube channel and become the investor You were born to be TFNN educating investors Call now toll free at 1-877-927-6648 Internationally at 727-873-7618 Sorry about that folks I seem to have a issue with my clock here It's a little bit off from the actual show segment and I was talking as we were going off the yard So I've just switched over to our black background charts And we were taking a look at the Dalwit Cootie future contract and on my white background charts Which we've got the December contract will be rolling over To the March 22 contract next week out here. It has different profiles out here So you'll see as you take a look at this black background screen So on the white background screen was bullish in structure on the black background screen It's bearish in structure. So which one is right to a certain extent. They're both right I don't have any way of reconciling it. We just simply use that information The bottom though is at 34 322 and that's the same on both and the top is at 35 900 And that is the same on both. So it's really all about the center Where is the center of that profile out out here? But right now that doesn't necessarily Matter to us because we know that as we're looking at that white background chart as we wanted to break last time Price should first target that oscillator change line in that 35 160 level now The ES mini doesn't have a bottoming pattern But what it did do and it did this yesterday the day before was it tested and rejected the bottom of its weekly profile So a key level of support has changed and I say a key level That's such a key level that if price and close if price close to blow that today That'll tell us about a change in trend signal. Otherwise, that is the buy the dip area now There's a new profile that is also attempting to form here I'm using my advanced stopper tool and this will not be confirmed until Sunday evening But right now we do know where buyers and sellers reside buyers at 45 19 sellers at 47 17 And both buyers and sellers are happy when prices at the center in the center right now It's exactly where prices trading are very close to it at 45 85. We're trading at 45 84 Basically now I was referring to the NQ and I was saying look at this stage here Even though we've got some bottoms in on the Russell and the Adele That everything I'm looking at everything right now being a countertrend rally unless unless we see the NQ close above 16134 16134 is the center of its bullish structured profile When you close below that and you do it for two consecutive sessions It tells you about a real break to the downside Then what it tells us is that countertrend moves will typically Find resistance at either the bottom my experience is more so more often than not it is the center Again, that's where both buyers and sellers believe there's fair value inside that range But that is typically where the countertrend rally would end 16134. What happens if price closes above that? Well, good good question the answer would be price would then go target the oscillator and change line Which is at 16 331 now the oscillator change line is held as as held as resistance all week long even last Friday out there And so that's going to be a key area and if price could then close above that level Then we'd be looking and move to 16609. So that's why I say just countertrend move now If we take a look at what's going on the short term here and then we'll get to some of the questions that have come in We'll just go to the 30 minute time frames for the equity future contract So the key levels that need to be crossed and it's on each of them are the td9 count breakdown areas Those are the green horizontal lines. So in the es write this down in your pad of paper 45 89 if there's two consecutive closes about 45 89 on the 30 minute chart out here That's telling us about a move to 46 34 in the case of the nq if there's two consecutive closes on a 30 minute basis Above 16 0 27 75 that tells us that the nq should target 16 348 Wait a minute Stevie you said 16 348 and you said on the daily was at 16 331 So use that as the range out there as to the price target And i'm not saying that it does that today Just giving you the price target and the ceiling that has to be broken Inside the dow the ym the ceiling that needs to be broken is 34 7 28 and inside the russell 2000 It's 22 15 now in the case of both the russell and the nq during this session right now They're both and really the es is trying to test that level Doesn't have to do it during this session as long as price remains above that green Oscillator and change line It should continue to pound away at that resistance level But those are the areas to watch that'll give you a clue right now if you're listening to a 22 What's going on this morning and at 1 22 in the afternoon You'll know whether or not price is trading above those levels And then now you can see whether price is coming to fruition hitting those target areas Did i give you the target in the russell i don't think i did Let me give you this so the target upside target if price can close above 22 15 will be 22 50 22 52 20 so that's what's going on in the markets overall just to get a genet all the markets here But we do have some questions that have come in that probably take us to some of those other instruments So let's go take on the first question the first question is coming in from marty And marty wants to take a look at a gold stock btg So let's get off of this screen here. Let's get back to our black background screens And what we're going to do is we're going to put up the three time frame Chart for what i'm actually doing one other thing first, which is trying to get that going on my My white background screens. Okay, we've got that in place now. Let's take a look at btg btg and the question from marty is gold stock btg looks like Like looks to be a buy what do the charts tell you please so in the case of btg We want to go to my white background chart here momentarily But we can see that prices below the bottom of its daily below the bottom of its weekly and the level of support is the monthly time frame Now this is a bowler structure profile And whether there's a pattern there or not prices pulled back to support And so the key area that you're watching here marty is going to be three dollars and 71 cents Now it's the early part of the month out here But if price closes below that that's not really a good scene So that's the first thing that we know There's no a no real a to b equal cd to the downside pattern I mean I could draw one in there if I were to draw one in it would look like this though So let's do this the the a point that's easy to find that would be out here on november the 11th The b point would be the low from november 23rd and the c point would be the high From november 26th So it has made the one to one level and that is a bullish hammer candle out there So marty in that instance here you do have a buy the d point pattern Okay, so we've got that established a buy the d point pattern established on the daily With price and support on the weekly the bottom of that monthly pro i'm sorry the monthly Which is the bottom of that profile 371. Let's pull over the other charts out here See what other information we might be able to gleam So at btg did much like many of the gold stocks as they negated their td9 counts in this case here It also closed below its breakout levels for it at 384 So That could be a level of resistance But price should go ahead and make a move Up to the four dollar and 16th cents. So you're asking me what are my charts show? That's what that tells us. Let's look at the monthly chart out here. See if there's any kind of a signal there There's nothing good here. I'm sorry. Did I say monthly the weekly chart? It does have a rose middicator bottom and that formed back on october the uh the week of october the 8th And so price is just pulling back. We just don't like that It's uh below the bottom of that weekly profile and a red oscillator and change line the monthly chart out here I don't really have much Well, we do know that the profile levels held So if you're looking to take a stab at this, let's go to the short-term charts. What do we got under 30 minutes? Not much Not much under 65 Not much on the 130 not much. Oh on the 195 There's 295 minute bars in a trading session You do have a valid TD 9 count up this suggests at least a move to 393 But if you're looking for a recent enter you do have a buy the d-point. That's a gartly buy pattern marty So you've got what you need out there. Just make sure you use a stop and use some proper position sizing So thanks much for writing in hope that helps you out and have a fantastic friday The next question coming in from tim tim writes any system long uh advanced micro devices amd So let's get that up on the screen out here and continue reading the question Could you please review support resistance levels for the daily and weekly time frames? Absolutely If it's a slow day, could you look at um at core atk r as well same parameters Thanks, uh, so much for everything you do you you bet you totally rock. Uh, you're you're funny. You're you're great Okay, so let's go take a good advanced micro devices which has closed below now for two consecutive sessions Below the bottom of its bullet structure profile. So tim very much like we were looking at in the nq It'll only be a counter trend rally if it does rally Up into the 150 346 level price close above 150 346 Tells us we're back on our way to the 157 60 157 67 level price above the top of the weekly and monthly profile So support is way down there. We're not even to give you those figures because I don't know that support We'll look at the white pack about charts as soon as we get back to this Are you looking for a way to consistently add winning trades to your portfolio? 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Uh, so we're waiting for the jobs report data To come out here see if it impacts the markets, but right now we're taking a look at amd for tim and so tim I hear so we take a look at now my white background chart. You're going to see wave number seven That's litter g that's a topping signal You see a roadmap to mindicator confirm top with that dark cloud cover and now we've got price below For two consecutive sessions below the bottom of its uh, bullish structure daily profile out there So that suggests that that price wants to move lower lower the breakout air is at 118 13 Now what price is not done here tim has not been able to take out the swing point from last friday On november the 23rd out here. No, that wasn't last friday. That would have been Before but it's that swing point either way now Not yesterday, but the day before was pushing into it with the higher volume yesterday was slightly Less volume, but it hasn't busted that out. So here's the deal if you see a close below 145 30 that's your signal that it's going to go target the 118 13 level out there the resistance 151 36 the bottom of the daily profile the real resistance would be 153 46 the center of that bullish structure profile So that's what i would be watching for on a weekly chart out here You are going to form bar number eight of a td9 count So that can be a top you still have to form bar number nine in order to do that But that most certainly can be a top out there and on the monthly chart I don't have oops Going to get to the monthly first The monthly chart I don't really have anything to suggest that a top is in or anything along those lines But the daily and weekly are just saying to be cautious So that's what I see when I take a look at amd now We're going to take a look at the other instrument atk are momentarily, but i'm just going to switch Let me get that actually going here atk atk are I hear my CPU is fiery enough. So typical during like a jobs report Let's go take a look at what's going on here in the market So a little bit of a movement in gold Just a few bucks at this stage here the equity markets have taken off You got thou futures up 120 nasdaq 114 s and p21 So that's really kind of following along the theme of what we have them taking a look at as we went through the Markets out here so far. So let's go back to the request and take a look at atk are which is At core ink so at core ink i closed above the top of its daily profile yesterday, which is 108 31 It's above the top of the weekly and monthly. So this suggests to me that's likely you go retarget It's a swing point from november 22nd. That's in the 113 at the bottom and at the highs at 118 49 So let's pull over atk are the white background chart See if there's any other signals out here And the viola there is so when it was making that high that we were looking at that was erodesment to indicator signal That was confirmed as erodesment to mitigate her top on the next day the 23rd When it generated that bear sash candle and so price is really kind of neutral You're above the top of the profile just slightly below the oscillator and change line But you have a topping signal so on a daily basis the signal here atk are is neutral We look at the weekly time frame chart the weekly is also neutral It has a confirmed erodesment to mitigate her top But price is above that green oscillator and change line and as long as price remains above that tim That's telling you about a strong momentum move out there now price gave up and closed below 105 65 That's the weekly oscillator and change line that would suggest lower price That might take us out of the neutral zone and lastly if we look at the monthly There's nothing out here to assist us with so with regard to atk are it's in neutral territory as we speak right now And thanks much writing in and have a fantastic weekend the next question. Let's go see where there's another question that we have in here and Whoops, let me get over there. Where's that it's from. Oh great. It's from brent in martinus california brent writes in So he's up early. It's 8 5 34 in the morning there and he sent in the email At 7 30 my time He brent gets no sleep. Okay, so, uh, let's see here. Uh, could you please look at, uh At the act of gold and oil contracts when gold yesterday at the lows with the call option and gld Was looking at oil yesterday as a possible long as well. Do you think this is a bottom in oil or a bounce? Or we can look at both the multiple time frames Great, so we'll do that for you brent. So to start with oil And i've been looking at it myself There's no Real well, I don't see a bottom pattern on the daily time frame, but here's what we do see I'm going to look at the multiple time frames. So oil yesterday What it did was it was able to get back to test its rising trend line on the weekly basis So as long as that level holds so prices come back to an area of support. It's not a profile level of support Um, it is a profile level of support brent if we were to look at the monthly chart So we spent a little bit of the morning taking a look at a couple instruments like the nq And maybe it was amd or something talking about when you close below the bottom of bowler structured profile The opposite is true as well brent if you close above the top of a bearish structured profile any moves lower Should find support at either the top of that profile or again because it's bearish in structure Really the center and that's exactly what took place yesterday 62 63 is the center of that profile. So there are two levels of support that have held Now with regard to lights weed crude It is attempting to form a new profile right now And so the resistance level is at six between 69 15 and 70 83 now I will not know until sunday if this profile is going to take hold but brent If it has presented itself even i'm if i'm using my advanced stopper tool That is where the buyers and sellers exist So when I take up a long position lights weed crude right now Probably not knowing that the daily is trading into a resistance level You did ask me to take a look at multiple time frame charts So i'm going to do that it'll take me just a moment to do this I need to change screens and need to change my Worksheets out there. So that just takes a moment, but we're getting fairly efficient at this So here what you're going to see pop up are eight different time frame charts here for lights weed crude And we're just going to look at the intraday charts now each of the intraday charts here for lights weed crude Have bottoming signals the 60 minutes got a rogement to indicator bottom as does the 120 as does the 240 The five hour time frame chart also has a rogement to indicator bottom So it's telling us that it is trying to form that bottom brent The only reason I say hey, I don't know if I take that trade just yet is because of that bearish structure daily profile But do the intraday charts support a possible bottom? Yes, do the daily time frame charts support a possible bottom? No, but the weekly and the monthly are saying yes So I hope that's not confusing But that's what the charts are communicating to us Do I see anything else that is worthwhile to report on as we look at it? I would say No, not really it's going to be that 69 15 73 level that will tell you whether this is a bottom or not out there and uh Oh, you also wanted to look at uh gold. So let's go take a look at gold. Let's do really the same thing So let's uh stay on this set of panels out here and let's go to its eight time frame chart So in the case of goldilocks Gold formed a td9 count bottom So you took that trade I would close out that trade if you see a close below yesterday's low Because that would be suggested that we had lower out here Um, but you do have a valid bottom when we take a look at the intraday time frame charts out here the 30 minute Has a bottom pattern in place out here and you do have three One two three higher lows that I see so that's a positive The oscillator and change line for the daily time frame change colors a couple days ago So because we have a a a confirmed td9 count bottom price in the oh you well should test each other right now That's in the 1802 level if I look for a bottom signal here on the 120 minute time frame I don't see it. I do see one on the 240 and a rosewood dominicator bottom is trying to form on the 5 hour We just don't have the bullish reversal candle as we speak So with regard to uh gold it does look like it's bottom both gold and silver I'm real quickly here. I'll change to a different set of charts And what you'll see on both td9 count bottoms Oscillator and change lines of the change color price has a target with both of those levels see rosewood tf at end We'll be right back Are you having fun trading the markets but having trouble finding like-minded individuals to discuss your trading and investment ideas with Become an apex predator in the trading markets and join the tiger's den trading room only at tfnn.com The tiger's den is an exclusive trading room where successful traders from around the world come to exchange trades and ideas Join the den and surround yourself with the sharpest minds in the trading world Subscribers to the tiger's den are also the first to have their questions answered live on air And can privately chat with our tfnn hosts live during their shows Interact with other tigers and tigers is as they share trading ideas news analysis and discuss the market action all trading day Subscribe to the tiger's den risk free with our 30 day money back guarantee and become part of the tfnn trading community tfnn educating investors Are you in the market for buying or selling real estate in the bay area? 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Thanks so much for doing that We are recording this today between eight and nine trying to make it as pertinent as we can for you We had the jobs payroll data come out And not really a substantial change in the markets out here still all the us equity future contracts trading to the upside Gold's up a nine buck silver up a nickel out here Let's go to our next question our next question coming in from the tigers down And they really kind of goes into we just took a look at gold take a look at the gdx As we take a look at the gdx it actually as they confirmed a to b will cd to the downside With the first price projection being 29 59 It's confirmed because the b point which took place on november 26 had volume of 21 million shares It was passed meaning closed below on the trading day of december 1st and that was with 30 million shares So you've got a confirmed a to b equal cd to the downside however And here's the caveat typically the mining equities will follow the direction Of gold so if gold is bottomed and gold is going to trade higher Than maybe the a to b equal cd pattern doesn't complete maybe I don't know whether it does or it doesn't We'll get a fairly decent feel for it today I suppose and also we have to pay attention what gold is doing with regard to additional support So you've got 29 59 as an a to b equal cd the bottom of the weekly profile is 29 30 So those would be the support areas to watch as I take open up the white background chart What we're going to see is that yesterday's price action negated its td9 count and a td9 count bottom That bottom needs to occur on bars eight nine to the bar following that well did occur on the bar following nine But yesterday was closed below that and that says that price could pull back to 29 17 That's its next td9 count breakout level. So that's what the gdx is telling us But we really need to be paying attention to goldilocks to see what its intent is if gold trades higher Odds favor that if gold is bottom is really what I should say the nods favor that so too has the gdx Even if it has a little bit of work to do to the downside out there So hope that helps you out that was somebody in the den I apologize I don't recall who but I want to make sure they got to that and let's get to the last question that is in here And we're ready to take more Although we don't have that much more time left in the show But this one coming in from david h and this is david in tom ball texas happy friday and happy friday to you Please look at dollar general. Can you give me an entry point? So dollar general's ticker symbol is dg So let's pull that up here and this had a terrible day yesterday And the reason why I say it was terrible is not only did it have some good volume of 3.4 million shares for it It was a close below its bowler structured Daily profile and if we get a second close below that today here david that suggests lower price Now lower price would be where well when you close below a bottom of weekly profile My eyes immediately go to hey, what's going on in the weekly basis as we can see It's trading with inside a bearish structured profile Now this could be the first week where we see price closed below $2,2091 That's the center of the bearish structured profile My experience is when you close below the center of a bearish structured profile More often than not price will make its way down to the bottom So we're and i'm not saying that this is the buy here dav uh david What I am saying is that price should go target 206 24 Below that we then take a look at the monthly set of profiles Which are down between 193 and a quarter 199 84 now Let's pull over the white background charts see what additional information david and I can glean One of the pieces of information that we can glean here as we open this chart is that price is likely to target 209 50 209 50 is its breakout level now. Maybe that holds. I don't have a bottom signal in here But that could be an area where it would hold and if it does you go over to the short term time frames like 30 65 130 195 to look for some other kind of bottoming signal there But if price closes below 209 50 that tells us about a run back to its td9 count bottom That took place on october 4th out there and really their support area would be the low of october 6th and that would be 203 80 so at this stage here It looks like price wants to head lower the question is which of these support levels will hold If any of them we don't know that we have to let price play out What we do know based upon this is we don't see a bottom You are looking can you give you an entry point because we don't see a pattern that suggests that there is an entry point just yet The weekly time frame for dg shows 204 28 as a breakout level That was tested on a move lower after td9 count and wave number seven top back in august the 13th And you can see price got back here and there's no bottom pattern that formed as price is getting back in the weekly But in essence bottom is or bottom can be when price pulls back to where price had broken out from Just like a top can be where price is broken down from And price gets back to that level. So with regard to dollar general David, I think you've got to wait for a bit watch as price gets to those areas if it gets to those areas Please, uh, you know get back to me. We'll we'll we'll we'll Evaluate it then but dollar general looks like it wants to continue to move lower I don't know what it's doing in the pre market what we could find out real quickly here Dollar general dg is a ticker symbol. It's trading out at 216 close yesterday at 215 81 So not really doing too much out there So thanks much for writing in bob a and the tiger's den wants to take a look at ticker symbol pr pr qr So we're going to do that get that fired up on our three time frame charts out here pr qr Thanks for the request bob So as we take a look at it it is trading below the bottom of its daily profile Suggest to you and I that price because it's trading with inside its weekly profile at 619 Maybe it's target to the downside at 628 that is the top of the monthly profile So pq rq pr qr. Boy, did I screw that up? I did P pr oqr has written the name That's how do you pronounce that? proker Okay, proker therapeutics in any event. So you're at 628 to 619 ESA potential support area. Let's pull over the other charts the white background charts So look at the daily first. Let's actually expand it out. We're looking for any kind of a signal out here We're looking for a td9 count of one exist. Oh son of a gun it does so Now what you've got here bob is you have bar number eight that formed yesterday Bar number nine has to complete today and this is at a breakout level 667 now bar number nine order to complete today It must close It must close below 706 if you get that Then what you have is a td9 count bottom at a breakout level of support along with an oscillator and change let us change colors And that's priced at 727. So that becomes the price target if price can close above that Then you're looking at 777 777. Yeah, like we're playing a slot machine out there Uh, and if you get above 777 811 833 But you do have a valid bottoming pattern That is or appears to be forming in prq r. It needs to complete that pattern today Let's look at the weekly time frame charts and the weekly chart out here Other than just potentially trading back to the bottom of its profile I don't have much if we look at the monthly time frame. Is there any kind of signal out here? There is not not that I see at this date now the signal is priced to trade above the top of the monthly profile So that is a positive. So, uh, what do we got on a short term charts? 65 as a bottom signal price needs to close above 689 To suggest a potential breakout Nothing on the 130 Nothing on the 195 out there. So back to the daily. I would watch this. It does look like it has a bottom Out here that could have already formed just depends on today's price action. So bobby I hope that helps you out. Thanks much for writing in And we just have a few moments here before we go to our commercial and come back to the Last uh last segment out here. So just a quick pop in and take a look at what's going on in the market So equity futures have traded off a bit. Let me try to get over to the equity future charts out here We're going to go take a look at those short term time frame charts here momentarily as we're going to the break Take a look at that screen that screen shows us what? Again shows us the power of the td9 count both the breakout and the breakdown levels Look at those green horizontal lines. They've been tested and so far. They've been rejected But a price flows above them. What's that going to tell us especially too close of Those levels say we're headed higher The reality is that navigating financial markets can be risky Markets can be chaotic and difficult to understand Having the latest market advice can help you turn this chaos into a key for creating winning trades At tfnn we understand that it can be hard to find reliable market news That's why each of our market experts offers their very own market newsletter They must have tool for every trader out there striving to find an edge in today's markets tfnn newsletters cover every aspect of the markets so you can analyze the market before you trade Try any of our great newsletters risk-free with our 30-day money back guarantee Just visit the newsletters tab on the front page of tfnn.com tfnn educating investors Are you having fun trading the markets but having trouble finding like-minded individuals to discuss your trading and investment ideas with Become an apex predator in the trading markets and join the tiger's den trading room only at tfnn.com The tiger's den is an exclusive trading room where successful traders from around the world come to exchange trades and ideas Join the den and surround yourself with the sharpest minds in the trading world Subscribers to the tiger's den are also the first to have their questions answered live on air And can privately chat with our tfnn hosts live during their shows Interact with other tigers and tigers as they share trading ideas news analysis and discuss the market action all trading day Subscribe to the tiger's den risk-free with our 30-day money back guarantee and become part of the tfnn trading community tfnn educating investors Are you looking for a secured investment which pays you on a monthly basis? 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That's tfnn.com and hit watch tiger tv Welcome back folks. Let's finish the show. Take a look at marvell and palantir. This is for hector And patty. They are the fuel injector. So in the case of marvell out here Hector the signal is that it wants lower. Oh, you've got the wrong screen. Sorry about that Give me a moment here Let's get to the right screen. Let's get to the black background screen. There we go So now when we take a look at marvell, you can see that we have three now consecutive close below the bottom of its daily profile 7199 tonus wants lower price So the lower price area initially that we'd look at on the weekly chart is the uh, Bowler structured weekly profile says between 60 to 64 In 66 49 the monthly chart nothing there to really assist us Let's look at the white background charts and as we pull this over here We're going to see on the daily time frame. You have a confirmed roadsman to indicator top Price below the bottom that profile suggests price pulls back to the 67 15 area That is his breakout support no bottom signal At the stage as it gets there But that's where price should at least target and then below that the other areas that we looked at on the weekly chart Out here, you're going to form a td9 count top and if price closes today below 71 70 Its message is that price should pull back to 62 64 to 66 49 and below 62 64 would be 52 79 We're not making that call just yet But we are making the call that if price does close below 71 70 hector You should expect that this will pull back further again. That's 62 64 66 49 level out there So that's what's going on. We take a look at marvell real quickly here Palantir pl tr is the ticker symbol out here and pl tr has an a to b equal cd to the downside Now it's completed the one to one level out there You can see that or I apologize the one to 1.27 Levels what it got to yesterday But that's not a bullish reversal candle and not until you get a bullish reversal candle Does palantir become a buy but if you do get one of those Then hector go ahead and fire away, but we're not there just yet folks Thanks much for joining us all of you that joined me early from eight to nine Thanks so much for doing that of course those of you listening from one to two very much appreciate it I'll be back at the normal time frame slot on monday tuesday and wednesday of next weekend and thursday We'll do the eight to nine and friday. It won't be a show folks. Have a fantastic weekend. We look forward to seeing you on monday. 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