 is a presentation of TFNN, The Trader's Edge with Steve Rhodes. Call now toll-free at 1-877-927-6648 or internationally at 727-873-7618. The Trader's Edge now Steve Rhodes. Good afternoon folks welcome to the June 1st, the wonderful Wednesday edition of today's Trader's Edge show. I'm your host D.B. 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 of the easiest way to do that is to always remember that life is happening for us not to us. That's right we do not make that one little two by four shift means we can find the gift in every set of circumstance that life is going to toss at us. Now today you and I we're going to go check on the circumstance of these markets. We're going to go figure out what the bulls and the bears what the buyers and sellers are communicating to you and I at just past one o'clock in the afternoon. I do want you to know I'm absolutely grateful for your presence here. Should be more important than that though and that's this during this next 60 minutes I'm here to serve you so feel free to pick up that phone you can dial in at 877-927-6648. If you can't dial in well we've got you covered there too you can send me an email send it to Steve at TFNN.com and inside that subject heading if you be kind enough to put radio show question and then in our tiger's den well any pain will do but I prefer the private one. It's just easier for me to keep track of what your requests are. So let's go ahead and get this show started on wonderful Wednesday. Of course this is Tiger Financial News Network. I'm Steve Rhodes welcome to less show right now you've got the all the U.S. since he's traded the downside. Now it's off 286 about nine tenths percent S&P's out one percent or 39 points. NASDAQ 109 tenths 117 points. Russell a little over one percent or 21. Semi is off 2 percent 66 points. Trend is off 1 percent 142 points. Spotbiotics is trading just below its 50-day exponents moving average straight at 27-16 that would be bullish for the S&P 500. Gold's up three bucks. Silver's up 27 cents. Sleight's recoup is up two dollars and 13 pennies. She's trading at 116. I won 16-80. Natural gas is up 57 cents. Traded 871. Lead the charge dollar wise the upside. You got Amazon 35 bucks. You've got Salesforce up 15. Laredo Petroleum up 13. Service now is up 10. The downside booking holdings 33 bucks followed by Mercado Libre at 32 dollars that's four percent to the downside. Micro strategy off 28 and change about 11 percent. Albie Amaral is off 24 bucks or nine percent all the beauty down 19 bucks four percent. So we've got plenty to look at. Of course I want to look at what you want to look at. No request as we speak just yet. Oh I take that back. There's one that has come in. Let's go. Okay that's about an individual equity. Let's go take a look at the general markets out here. Get a feel for what they're doing. We'll change over and take a look. Actually let's just do this here. Let's go one by one through them. When I mean through them I'm referring to the futures contract. So we're going to take a look at the ES mini to begin with. Upper left hand side is the daily chart out there. We can see that price. Nice rallies run right up into resistance. But that was the top of its daily profile. It's at forty one sixty eight. If price pulls back further than its target should become the center of its bullish structured profile and or its oscillator and change line. Both of those are about the thirty nine eighty nine area five hour time frame chart. I don't have any kind of a topping signal price but no levels of support have been broken. The key level first there would be forty sixty one hundred twenty minute time frame chart. I don't have up to the top was wave number seven. That's letter G out there. That's part of very small part of the Chapman wave out there. We see that top price may be targeting its breakout level of forty fifty one fifty. That's coming from the two hour time frame. Sixty minute chart. Nothing out here to help us out that I can see that quickly. Nothing on the thirty minute chart out here. TD nine count on the fifteen minute roads with the indicator bottom on the ten minute chart. Same thing on the five minutes so we know that so the question so we have these intraday time signals five ten fifteen minute. What we want to really do is watch resistance levels to assess us with what the next move may be. Well the five minute chart prices testing that level of resistance as we speak right now forty ninety four. We're trained at forty ninety four. Price closes above that on a five minute bar. Tells us we had higher had higher to wear. Well I look for the next resistance level. I don't see one on a ten minute chart but I do on the fifteen and I would say that forty one thirteen would become the price target if price is able to close above that five minute. Profile take that back forty one ten. Would be the level that's the TD nine count breakdown level for the yes many on this rally that is transformed but that is unfolding as we speak now I say rally could just be a counter trend move folks and here is what you pay attention to short term time frame charts for those signals. Let's go take a look at the end queue out here. Take me just a moment here to get this to populate. The NASDAQ. Futures trading right now at. Where are they. So there we go it's about about twelve five thirty eight. So that's a beautiful twelve five forty one is where they're trading. I think this is needs to just update these charts out here. So that is. So yesterday and on Friday where price found resistance was inside that bearish structured daily profile bearish in structure because the center where you have both buyers and sellers will call fifty fifty there. Hundred percent sellers at twelve ninety nine eighty five because the center is closer to the top than is the bottom which is eleven eight seventy five bearish in structure more sellers in that range well. So prices hit resistance. No topping pattern like the ES many for its five hour time frame chart. And price is consolidating with inside its profile. The two hour time frame chart this also had wave number seven letter G that was at the high about six o'clock in the morning that was six o'clock in the morning on the May 30th out here. Price could be targeting twelve two forty four that's its breakout level. That's for the two hour time frame as we take a look at these charts out here very similar fifteen minute ten minute five minute also have bottoming signals. So therefore what are we going to want to watch for. Well I'd say we're watching the fifteen minute chart at this stage here. The reason is because prices traded up in resistance at twelve five forty nine. So if you were to see a close of twelve five forty nine that tells us that we have higher price higher price to wear excellent question. The answer would be twelve six forty three fifty that would then become the next price target. So watch twelve four five forty nine so far is sold as resistant or is resistance a close above that. Is that going to suggest the twelve six forty three area becomes a target. Let's go take a look at the Dow equity future contract out here. The Dow equity future contract what we'll do probably after this segment. We'll take a look at the task market breath out there I believe it's still bullish for the daily. Time frame out here we take a look at the Dow equity future contract it did close above yesterday and on Friday the top of its daily profile. So now it's getting back inside so was the breakout a false breakout. If price close about thirty two eight seventy five the answer that is no if you close below that the answer that is yes price may be pulling back to about the thirty two oh two. Thirty two oh one two level out there. It's an intraday time periods fifteen ten and five minutes. The fifteen minute and the five and a half. Bottoming signals. So what are we going to watch for I say thirty two seven eleven. The price close about thirty two seven eleven you should see moved to thirty two eight oh four. That's coming from the Dow. Let's finish this off here pretty quickly. See if we get the Russell two thousand here before we go to the break. It to and I believe closed above the top of it. Yeah it not only close above the top of its daily profile it's been above the last four trading days. So the pullback in the Russell two thousand may just simply be an old test of resistance at eighteen twenty four level if price gets below that then you could be looking at seventeen eighty eight on its short term time frame charts out here is the five in the fifteen minute chart. That's a watch eighteen forty eight eighty. The price close of eighteen forty eight eighty you've got rally on for the Russell two thousand that's what's going on on the four equity future contracts. This is the road to a T. F. and Ed will be back in just a few coming inflation. We are purchasing powers eroded. There's no better place to protect your hard earned money than ain't gold. This the golds flagship asset is the Monk Todd Gold Project in the Northern Territory of Australia. This is Australia's largest undeveloped gold project. We are talking a world class gold project in a tail one mining district. This is a large scale low cost project with significant existing infrastructure in a politically safe and friendly mining jurisdiction. This the gold just completed the Mount Todd feasibility study which resulted in a seven million ounce gold reserve in a 16 year mine life. All of this combined with the approvals of all major operational as well as environmental permits. This distinguishes Mount Todd as an attractive, dearest pot ready development stage gold project. This the gold trades on the New York Stock Exchange and the symbol VGZ. 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 it 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. Are you looking for a way to consistently add winning trades to your portfolio? Tom O'Brien is here to help. Tom O'Brien has been successfully trading markets for over 30 years. A frequent contributor to TD Ameritrade Network and CNBC. Tom O'Brien founded TFNN over 20 years ago to help educate investors just like you. Tom's Daily Market Newsletter Market Insights is published every morning when the market's open to give you the competitive informational edge you need to succeed. These newsletters are packed full of Tom's advanced technical analysis and are geared to deliver comprehensive strategies for a successful portfolio. Get Tom O'Brien's newsletter Market Insights today and try all of our products and newsletters 30 days risk-free with our money back guarantee at TFNN.com TFNN Educating Investors. Total free at 1-877-927-6648 internationally at 727-873-7618. Now folks let's go to the first question the only question we've got at this stage here from Dennis G. Dennis G writes in he says what do the charts say about the waste management WM is a ticker symbol there you own it now thanks Dennis G. So Dennis if we take a look at the monthly timeframe chart what you'll see out here there was a TD9 count top that TD9 count top led to a test of support it's full of structured monthly profiles down to 140.08. Now price is just consolidating with inside that profile it's still below its green dots that are in change line 162.16 so I can't make the call that it's going to run up to the 168.04 level if we look at the weekly timeframe chart it formed looks like wave number seven and a TD9 count top on April the 29th so far that has led to a pullback with price still remaining above the top of its profile so its message even though it's got a topping signal out here Dennis is neutral if price gets below 149.80 then you can see a pullback to 143.16 level so neutral on the weekly consolidating on the monthly and the daily which formed erosement and indicator top I don't have a bottoming pattern doesn't mean it hasn't bottom it means I don't have a bottoming pattern and right now price is just consolidating with inside its daily profile and that is from the range of 155.70 to board 161.70 so you're long what you're really looking for here is first a closer of 161.70 that would then get us to the 168.04 level and then finally what you would want to see is a close above the high which is at 170.18 out there on the intraday charts Dennis I wish I had more to share with you there's not really a ton of information that I see nothing worthwhile to just spew information out here that is meaningless so I won't so with regard to what the charts are saying here the daily may have bottomed but I don't have a bottoming signal out here it will have bottomed if you get a close above resistance for two consecutive sessions that's 161.70 so I hope that helps you out thanks much for taking the time to write in much appreciated um Mark D writes in and Mark writes in he says uh if you'd be so kind to give me your analysis on Enbridge ENB I think is the ticker symbol out here uh ENB that's we're gonna go with but um let me I gotta check this out on my other system actually just to make sure I've put in the correct symbol out there because it might not be ENB ENB uh yeah okay perfect so it is so it's populated so let's read the question here I currently own some shares in the stock on the Canadian exchange but the chart seemed to look a bit different on the Canadian exchange versus the US exchange could be a currency thing there possible the monthly chart because this certainly going to be priced in US dollars the monthly chart seems to look better on the Canadian exchange so I'm kind of confused could you please give me a quick analysis so I know whether or not to stay put or bail out so I can only obviously give you what's coming off of the US exchange if you didn't know that I don't have the Canadian exchanges uh that I've purchased so I don't have their detail to take a look at it but most certainly we can take a look what's going on on the daily time frame daily weekly monthly and intraday time frame so first from a monthly standpoint this looks pretty darn bullish to me whoops sorry I'm gonna do that I meant to do this expand out the chart what I mean by that is simply that price is above the top of its uh profile it is above its green oxygen change line the month of may was a test rejection of that green line so this suggests that price should continue to motor on higher the weekly time frame chart shows a price of consolidate with inside its weekly profile that's down at a low of 4202 which was tested about uh four weeks ago and that looks like resistance is going to be tested that's 4675 so you're looking for a close of a 4675 on the end bridge capital still looks pretty good out here no no real nothing that I see to be concerned with just a consolidation with inside the profile levels that's on the weekly basis the daily time frame chart what do we have out here not much but what we do have is prices above the top of its profile it might by not much as I don't have a bottoming pattern doesn't mean it has a bottom in fact with price trading above the top of its daily profiles it has for last for training sessions I'd have to say it is a bottom but what we do have also is a oscillator and change line that has changed color now typically the way that that pattern will work not always but typically the way that that pattern will work is when you get a topping pattern which could be a td9 count top that wouldn't take place the earliest would be tomorrow so it would be to thursday through tuesday of next week when that pattern could form after that forms out here as price makes its way back to its prior swing point high of april the fifth then you could see retracement or pullback and that pullback might take you to 45 32 if we look at the intraday charts out here we've got a td9 count top on the 195-minute chart prices within side the profile so it may get down to 4565 or 4592 a possibility nothing to share with you on the 130 or the 65 the 30-minute chart did form looks like a rose meant to mitigate her top and price pulled back to support and that was its breakout level 4594 out there so overall your question you're confused about what the chart is saying on the us exchange versus on the toronto exchange perhaps i can't answer that but the monthly chart looks good the weekly chart also looks good but you've got resistance at 4675 the daily chart says you should head higher i just want to be cognizant of that change in color on the ascending change line and that says we should see that line and price catch up to each other i just don't know how it's going to do that could be sideways movement while line moves higher so i hope that helps you out thanks so much for writing in no other questions that i see at this moment let me just look here real quickly through the uh yeah i don't see anything look at ruby i don't think that message was for me so i don't see anything inside the tiger said but if you do every quest please feel free to go ahead and write that write your request in so let's go take a look at what i want to take a look at next excellent question so let's do this here let's go change back to the black background charts for the moment oops like steve could you look at what can we look at gold absolutely so that's from the seagull out there and so to look at goldilocks let's go ahead and take gc we're in the august contract out here let's get that populated we'll look at the daily and the intraday time period charts out here for goldilocks but what we do know about gold here is that gold i got back to the bottom of its weekly profile the weekly profile for gold i believe it's 1835 let me just check on my other system here just to make sure give you the right number gold gold gold here we go um uh i got different profile levels when i was no that was the weekly profile so the weekly profile it's a brand new profile 1835 20 so price got to that level seagull held it and that's positive out there so if you can't bust it to the downside what is price going to try to do perhaps bust it to the upside well to do that the upside here is going to be 1879 that is the 1857 30 to 1879 that is the barest structured portion of its daily profile so that's your resistant zone if price can clear 1879 that will be a positive outcome and that would then suggest to move to 1944 now you can't see that on the charts here because i'm looking at the black background chart to give me that next price target level the five-hour time frame chart although i don't have a bottoming signal price is above its profile levels and that suggests it could be making a move gold that is to the 1867 area 120 minute chart bottom with looks like wave number seven that's letter g out there and price is above its profile level so that suggests a further move higher 60 minute chart at a rose mentor indicator bottom resistance there is 1854 40 seagull so that's the key level of resistance the 30 minute chart s rose mentor indicator bottom 1859 70 is the resistance level so hopefully you're writing those numbers down on your pad of paper out there two very short-term topping signals one from the 15 minute chart one from the five minute chart so you could see a pullback retrace from the 15 minute chart that profile is below price that is a bullish message for that time frame see rolls with tf and n will be right back if you want to take advantage of this sector now is the time to subscribe to my gold report the gold report is a comprehensive look at the metal sector as well as the markets that move gold which is the currency and bond markets new subscribers get a 30-day money back guarantee so you have nothing to lose every monday morning i published a gold report with coverage of gold silver bonds the xiu hui gdx as well as more than 30 different mining equities to see for yourself the types of profitable trades that are recommended within the gold report sign up now by visiting tf and n.com don't miss out on the next great gold trade sign up today tf and n has just launched their new trading room the tiger's den hosted at discord tf and n has been educating traders for more than 20 years 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folks dow down 247 recipes off 36 let's go to our next request from david h in tom ball texas david writes in please take a look at accidental petroleum o x y is the ticker symbol out there can you give me the support resistance levels for and the oscillator and changeline okay you got a two question out there episode depends on what time frame you're looking at but here we've got our monthly weekly daily time frame charts out here and we can see on a monthly basis you've got a td9 count top that was confirmed as we ended the month of may now if price closes above that that being the high and the high rate now for oxy is 7404 that'll be a strong momentum message but you do have resistances at 83 35 oscillator and changeline 42 78 weekly chart oscillator and changeline is down at the 65 51 the top of its profile 60 is 60 57 if there were to be a move to the downside the countertrend moved to the downside should find supported 55 22 that's the center of its bearish structured weekly profile daily time frame shows a confirmed roadsmanship indicator top from yesterday but price only pulled back and tested and so far rejected a green oscillator and changeline 68 63 by the way david that's level price were to close below that we'd be looking to move potentially back to 64 98 to 60 56 td9 count top on the 195 minute chart but price is holding support there um if price closes below on this bar right now and this bar is not going to close until 4 p.m so oxy cells off close below 69 96 that probably signals moved to 65 94 62 82 it's not the message right now just something to be aware of the 130 minute chart from the rogment to indicator top has supported 67 46 the 65 minute chart price pulled back to its breakout levels port as it did on the 30 minute chart so i don't have anything else to share with you out there i would say so the weekly i'd really be watching the weekly chart out here for a uh weekly in the daily in the weekly says i'm not done headed higher but we've got that monthly td9 count top you can exceed the high it depends upon the close so um right now oxygen petroleum still looks pretty bullish when i look at the monthly the weekly and the daily time frame charts out there there are some caution signals so i hope that that helps you out thanks much for writing in that was david again in tom ball texas flip once take like a ticker symbol ter so let's get that populated on the screen out here i don't know what ter is as if i'm supposed to remember all of the uh stock symbols out there teradine though is what we're late we're going to take a look at here for flip and a teradine right now is trading out at 106 63 um let's let this continue to populate is it done yeah yeah okay so now as we take a look at it it's got a monthly roadsman to mitigate your top but price is held support if price held support be in the top of its monthly profile 96 62 you get below that and you're headed lower maybe it's 88 84 maybe it's 81 46 maybe it's 56 42 i don't know the answer to that i just know that right now you've got a top in support has held the weekly time frame as a roadsman to mitigate your top price below its breakout level there's no bottoming pattern or signal out here this is suggesting and price keeps finding resistance at that red oscillator and change line so flip that's not really a great scenario price could get all the way back to 77 57 so the weekly chart says hey i don't like that looks pretty ugly monthly charts got the top but support is held the daily chart actually has a bottom so you've got a roadsman to mitigate her bottom that formed out here a couple of days ago with the gap to the upside but price is running the resistance out here flip see the resistance at the 109 53 area that is the top of its daily profile so you know where the battle is to the upside it's right there 109 109 53 now price may be pulling back to the 103 31 maybe it's even 100.22 but what you want to watch with regard to so i'm going to do this off the screen what i mean by that is the swing point low flip is a trading day of may 28 that had volume of 2.1 million shares the high of that bar is 102 1 the low of today's bar is 105 34 so you'll want to watch if price is pulling back into that swing point with more than 2.1 million shares that's going to suggest lower price coming at you now that's the daily time frame as we take a look at that pterodine on the other intraday charts out here just looking for anything of importance 130 minute td9 cal top but support is held at 106 40 so short-term bullish out there 65 minute chart td9 cal top same with the 30 minute same with the 15 minute chart now the 15 minute form to td9 cal bottom we're seeing a bounce from here price is above its top of its profile which should should see a further bounce bounce to where i'd say about the 107 86 area would be a good target to a as far as a move to the upside so bottom line out here with regard to pterodine is really going to be that 109 53 level if price can go close above that then you're off to the races those races would take you to 113 43 if you close above 113 43 then you oh uh then you're yet then you're on the way to higher price 131 37 or so so hope that helps you out with regard oh that was uh shoot i don't know you know this this i gotta tell you my uh i think my phone updated and i do not like what it does out here it takes these messages that i've got in it just distorts the heck out of everything man where'd that message go i'll be a son of a gun there was a request to take a look at two things so maybe that was david he wanted to also look at new month mining which i didn't do that so that's what we've got going on on tera data i believe you had another question an iphone and i tell you it's really screwed up it could just be in a snyphone 10 should be okay but it is uh if i said it screwed up that's an understatement out there just not you know just not that big gun you know give an apple another thousand bucks for basically a phone uh any and we go okay skip over this um so we're waiting for new month mining here to populate if you give me a moment i think there's also another question inside the tiger's den um tier please i don't know maybe major eight co i don't know what that means so i don't think that's for me okay net now okay thank you so we take a look at new month mining out here man oh man no that's not that's any m geez what what's new ne m let's get the proper symbol up there it's gonna make it much easier for me to i know it's really tough for you folks when i uh i'm talking about one chart or set of charts and i'm on the wrong screen and of course you're looking at yourself sideways saying what's he talking about it's even worse when i type in the incorrect symbol so new month mining what do we have out here monthly time frame our prices held support support is the top of its monthly profile for new month mining that level 66 23 no topping pattern as we speak right now on the weekly time frame you do have wave number seven that was the top that was out there that's letter g uh and uh prices pulled back in this below the bottom of that weekly profile so old support becomes resistance we saw that last week that is 69 83 no bottoming pattern or anything out there the daily time frame we take a look at new month mining uh was there an a to b equal cd to downside visually to me it looks like the answer is no we'll draw the a to b leg and what i mean by no is i mean it just simply hasn't hit the one to one price target but let's see steve's eyes could be misleading that would be not they weren't that misleading so no i don't see a bottoming pattern but price is above the top of the profile and price was testing the top of the profile today that level is 67 34 so it may have bottom just without one of the patterns that i use to help us identify bottom signals out there so if price could hold that 67 34 level things remain bullish 195 minute chart did top with the td9 count pattern prices pulled back to its oscillator and change line of 6703 doesn't hold look for moved about the 65 51 area nothing else really of significance on the other intraday charts out there so hope that helps you out david in town ball texas your question on new month is it a confirmed abcd down on a weekly basis i will answer that question for you we get back to the spring 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 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david delivers his weekly newsletters every friday with updates throughout the week you can get the technology insider at tfnn.com for only $37 and 50 cents sign up for david's newsletter the technology insider and get an inside look at everything the technology sector has to offer try it risk-free today with our 30 day money back guarantee tfnn educating investors biotech is booming but for how long whether you think biotech bull has room to run or has run its course trade labu or labd directions daily s and p biotech three times bull and bear etfs visit direction investments dot com slash biotech 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 866-476-7523 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 foresight fund services LLC this program is brought to you by vista gold traded on the nyse American and tsx under the symbol vgz welcome back weekly chart for who i'm lining up on my screen right now and david from tombalt texas is asking the question is this a confirmed a to b equal cd to the downside and the answer there is clearly no why is that well in order to be a confirmed pattern and we'll talk about a to b equal cd you've got to at least pass the b point of the a to b equal cd to the downside well the b point out here was established the week of the week that began may 16th so david in order to get a confirmed a to b equal cd one you need to see a close below that low that's 63 68 and you'd like to see it done with more than 29.4 million 29.5 million shares out there it could turn into an a to b equal cd to the downside but your question was has it and the answer is no what it has done though it does have a confirmed a to b equal cd to the upside what do you mean steve well your a point out here is going to be the low from march the 16 so let's go put this in here the b point is all the way out here it's the high that came in on may 17th that high had volume of about 51 million shares and what was passed it was passed with 60 million shares now the c point is going to be the low from november the 29th that also sets up a nice little trend line out there i mentioned that the b point which was from may 17th 51 million shares when it was passed was past the week of march 7 60 million shares so actually what newmont mining has is a confirmed weekly a to b equal cd pattern that suggests price will take a move up to excuse me the 94 91 level out there so i hope that helps answer your question about the a to b equal cd pattern if it doesn't my apology we'll continue to work at that for you let's go to our next question this one coming in from the tigers din and the question there was a take look at nordic american tankers so let's go switch charts out here we'll go see what nordic american tankers tankers is doing the monthly time frame chart not much consolidated with inside its monthly profile and that's between the ranges of at the bottom 159 at the high 276 out there so just a little good old-fashioned consolidation on the weekly chart what do we have here you've got a nice road to the indicator bottom that's still in play right now but prices below the bottom of its bullet structure weekly profile this week number one so that's not really that good it may be price might be targeted in the february lows out there that is a possibility for sure the daily time frame says hey not so fast guys and gals i just formed bar number eight of a td9 count and if tomorrow for nordic american tankers price closes below 221 you're trading at 204 right now you will get bar number nine you will have a td9 count bottom right at about just above perhaps td9 count breakout support of a buck 88 and that suggests them we should at least see a bounce in nordic american tankers and that price target would be the oscillator and change line currently at the 235 level so let's hold this back here so the weekly monthly says consolidation with inside profiles weekly says i got a bottom but you don't like being below the bottom of this weekly profile but it's only wednesday the daily says i'm going to go ahead i'm in a temp to form a td9 count bottom that should be completed by friday of this week by the way friday may do the show record the show i should say between eight and nine in the morning out there so please join join us then 130 minute chart nothing much there 65 and has a road to the indicator and td9 count bottom so if this is not a counter trend rally you will see a close above 207 does it have to close above 207 today no but if it tests 207 and backs off that would not be what you're looking for you're looking for a close above 207 and then that should take us to higher ground out there so that's what i see when we take a look at nordic american takers looks like it's trying to form a bottom that could take place between today and friday of this week out there so hope that helps you out thanks so much this was my question steve abc this is my question premise steve how about nordic american takers total disconnect they're making three x daily shipping rates versus last year yet the stock is back to low end of the range levels yeah i so fundamentally uh dan i don't know you know i don't i don't know enough about that marketplace so to speak and the for me the most fundamental pattern out there is what are buyers and sellers doing that's what you're an expert at you know that's what that's what we do out here is try to take a look at you know with a number of different matrix we don't we don't explicitly use one you don't hear me speak about one single tool and that's like the be all to end all now i wish i had one single tool that was the be all to end end all um and i don't so what we have here is just a matter of we use these technical patterns we watch what buyers and sellers are communicating to us many times we don't fundamentally understand that you're asking that question today we had matt yesterday was asking questions about the footsie out there and i thought about matt's question about the footsie a little bit more you know the footsie in the uk right with brexit and all we know that we know that uh you're everyone in europe is concerned or trader-wise anyone with dollars would have been especially when you take and look at the euro which we believe is for at least a short-term bottom out there uh but money's got to flow somewhere and it flows where it has confidence and so you know maybe people are going into the footsie uh we know people are going to the us dollar which is not really what we want to see because people go into the us dollar when i say people sovereign entities and so forth maybe people too but uh there's always a rush and move into the us dollar before war starts like world war one world war two um question mark world war three out there so again we're just paying attention to what buyers and sellers are doing right now you know what we're seeing is we're seeing global capital flows go into the us dollar in a big way out there so um yeah i can't answer that question for you dan i get the question i just don't have way to answer it but uh it does look like uh to the extent that the fundamental aspect is what you're saying i'll lead you to saying you want to be a uh be a buyer out there well then you know look for this td9 count bottom to form um really want to let bar number nine complete tomorrow um i would say and then you know in 188 would be a nice entry i don't know that we're going to get that we're 204 so we could but um so i guess that's how i would put it together you've got a good fundamental reason to look for a bottom pattern inside of nordic american tankers and this is the best one that i can find right now so i hope that helps you out uh Steve while we're on tankers can we take a look at sting i'd love to hear some of sting's music out there stng but instead we'll go take a look at the ticker symbol stng and the question is where would you see this move higher getting to so let's wait for this to populate out there this being the charts and then we'll try to answer that question and it looks like quite a run out there so the answer to your question is real simple 4045 so that that's what i say right now and 4045 is this td9 count breakdown level that comes from the monthly chart now the problem there is that the folks on the weekly side are saying hey they're waving your hand they're saying hey um uh i just formed or i am forming a td9 count top that should complete this week because it's the bar following bar number nine so here's what you've got to take a look at whatever this week's high is and i don't know what it's going to be so far on sting or stng the high has been 3565 but it could have a higher high whatever that high is i'm not saying so and i'm not saying sell because i don't have the signals that say sell other than the weekly chart says be careful now the beauty of that td9 count pattern is if we see a close above a td9 count especially the following week tells you about strong momentum move to the upside and that would then get you the 4045 level otherwise anticipate some type of retracement now you would likely see the daily time frame tie into the weekly time frame the week has got a top we should see a top on the daily today is going to be bar number seven of a td9 count that says you could get a topping signal between tomorrow thursday and next tuesday that ties into the weekly time frame chart out there in all instances price are above price is above their greenhouse certain change lines daily and weekly so that is still a very strong momentum move to the upside i don't see anything else here in the church to make it so with the 30 minute chart does have a td9 count up it says you could some short for the top up here see what you would see if it ended up looking great 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 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a full refund within 30 days of signing up subscribe to the Fibonacci 24-7 newsletter today tfnn.com educating investors don't forget you can listen to tfnn live on your mobile device 24 hours per day go to tfnn.com then hit watch tiger tv that's tfnn.com then hit watch tiger tv folks so uh we've got about two minutes here to wrap things up uh the wrap-up let's go take a look at you know things to really pay attention to today and i think one of those elements to pay attention to is going to be that spot follow techniques so let's go take a look at it i believe there was some requests to take a look at that in the early stages of the show anyways and really the key level out here to be paying attention to granted you got equity futures us ses mini future up 35 points right now but the spot follow techniques has tested and rejected that 50-day exponents moving average and as long as that condition remains out there the bulls are the ones with the ball in their hands i mentioned about a new profile that is attempting to form on the daily time frame you can sort of see it on the very right hand bottom chart out there the top of that profiles at 4004 the centers at 3965 and the bottoms at 3886 when when a profile forms below price and again we won't know until 601 this evening if it has taken shape out there but when a profile forms below price that is a bullish message out there when a profile forms above price it's a bearish message it's not that price get back get back in those side those profiles but i'm delivering to you or what the markets are or the charts are delivering to us is that the 50-day exponents moving average so far prices test and reject that level that level by the way just so you know into this really means where is it at the end of the day not at 155 p.m. 2737 is the number a price closer below that conditions still remain bullish now what's going on is the market has to work on that extremely overbought condition as we mentioned the new york stock exchange the advanced client oscillator and friday closed at a 337 level folks that it's only been up at that area like five times going back to 2000 and going back to to the beginning basically out there so extreme oversold conditions doesn't mean it's a market top it means it has to work off that condition so when you put that together the spot volatility index this is suggesting we could be seeing the b to c could be seen the b to c of an a to b equal c we will know more tomorrow on terrific thursday but stay tuned folks your favorite polar bear david whites up next tom o'brien will bring us on home i'll be back with you on terrific thursday you have a wonderful day