 The following is a presentation of TFNN The Traders Edge with Steve Rhodes Toll free at 1-877-927-6648 or internationally at 727-873-7618 The Traders Edge now Steve Rhodes Good afternoon folks. Welcome to the June 9th, the terrific Thursday edition of today's Traders 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 Let's make sure we have an extraordinary one of the easiest way to do that. It's to always remember that Life is happening for us not to us That's right. When you and I make that one little two-by-four shift It means we can find the gift in every set of circumstance that life is gonna toss at us now today You and I we're gonna go check on the circumstance of these markets We're gonna go figure out what those bulls and bears what those buyers and sellers are communicating To you and I just passed one o'clock in the afternoon. I do want you to know I'm absolutely grateful for your presence here But more important than that That's this during this next 60 minutes. I'm here to serve you So feel free to pick up that phone would love to hear from you. You can dial on it at 877-927-664 if you can't dial in Hey, we've got you covered there, too Let those figures do the walking go ahead send me an email send it to steve at tfnn.com and inside the Subjectating please put radio show question. Of course if you're in our Tigers Then lady pig will do but of course Stevie prefers the private pings these days with the Discord app out there So let's go ahead and get this show started on terrific Thursday. Of course. This is tiger Financial news network. I've Steve Rhodes welcome to let's show us a little bit of a mixed bag out here That mix coming from the some eyes that are up six points Otherwise the other indices are trading a bit lower and I do mean a bit lower the dows off 40 points or Little over one-tenth percent two-tenths for the s&p nine points two-tenths for the Nasdaq 125 points Half a percent for the Russell that's now in ten points and since we were together yesterday There's been one signal change and that is in the Russell 2000 We'll take a look at momentarily gold's off five bucks silver down 28 cents slice recruiters off 32 pennies natural gas up 12 Boutics and 30 or Treasury trading out 130 702 so I mentioned signal change So first we've got a consolidating market with the exception being the Russell 2000 What I mean by that is if you take a look for the upper left-hand corner Start out for the ES mini you can see that little rectangle formation out there We've got the same thing going on inside the endures same thing on a dow. How long does it last? No idea But if we take a look at the Russell 2000, which never really did establish a consolidation pattern out there It had an a to b equal CD pattern generate a bear sash candle yesterday That confirms a Gartley cell pattern that suggests that what price should do over time and that line is red Oscillator and change line should test each other So one signal change got a consolidation out here. What else do we know? Well, if we go to the play-by-play menu that means we'll just simply go look at a short term Set of charts out here the ones that are on my screen right now are the 30 minutes So we'll switch over to those and what we'll see here is we've got two bottom signals to count them That's coming from the ES mini and the a dow equity future contract So the beauty there is you have two TD nine count bottom patterns now market should rally from here They have rallied so far. We'll take look at resistance levels resistance levels for the a dow equity future contract We just put that's a bowler structured 30-minute profile back I'll just simply expand out the screen this way we'll take a look at the exact same thing So you can see the TD nine count for those of you that now when this topped out here This was at 730 this morning. It was a TD nine count pattern as well So for those of you not familiar with this pattern get familiar with it If you want an easy way to do that just sign up to mastering probability can do for 29 days Doesn't cost you a darn thing So here's this cool pattern it does now the bars are gonna when you do have a valid pattern It's gonna top or bottom with bars eight nine or the bar following nine in the case of the top Was the bar following nine the case of the bomb was bar number eight after bar number nine completes You know, you've got a valid count You just don't know if there's gonna be a higher higher or lower low out there to complete the pattern But what occurred at the just after that pattern formed right at 1230 was a bullish structured 30-minute profile form now when price closes above the center of its bullish structured profile It is presumed that buyers have enough strength to push price to resistance, which is at thirty two nine forty eight So that's the number to be watching out there No, of course the downside with some kind of flush to the downside you'd be looking at today's low low for the Dow equity future contract is thirty To six sixty seven if there were a close below that then that says we head down to the bottom of the consolidation That you and I looked at on the daily time frame the chart with regard to the ES mini not as easy to make a call It is a slightly. Yeah, it's not it's not a bullet. It's just a fair valued profile out here So you get the TD nine count the TD nine count There had already been a new profile that established out here as long as price remains above its red oscillator and change line It says the next battle which has already taken us at forty one oh nine if price can close about forty one oh nine Odds favor move to forty one twenty six if price can take out resistance of forty one twenty six Then we'd see the move to forty one forty one You get a TD nine count top that formed here in the ES mini at the TD nine count bottom on the thirty minute chart as well We don't have any kind of signals other than a TD nine count top on the NQ's Thirty minute chart, but note not so much with regard to the bottom That formed out here notes odds favor there was an A to B equal CD to the downside on the thirty minute chart That did confirm let's go see if we got that the A to B is all I'm going to do is draw that in here's a To be and then let's just simply go take that line move it over to our TD nine count top and see if we got done Oh, we did so you do have so you've got a a Currently by pattern inside of the NQ out here So it has a new profile that just formed as we came on the air So this is cool as long as price remains about 12 593 Well, we should see is to move up to the top of that profile. That's at 12 623 So you'll want to watch that level because if price closes above that then it suggests to run for this morning's highs back into the 12 What is that 12? 716 ish type area out there. So we got three bottoms. Do we get a bottom on the Russell 2000? Yeah, not likely. I don't think that that completed the A to B equal CD But just to make sure we'll draw on the A to B leg out here And we'll just simply carry that over to the C to D portion and see if we did This back, you know, I take that back my eyes were wrong We did get a so you've got all four 30 minute equity future contracts that have bottom patterns to a TD nines and to with Well, what was with the Gartley by the Russell 2000 just simply a by the D point pattern That was confirmed with this bullish a golfing candle at 10 30 Then you got reconfirmed down here at 12 noon This is a slightly bearish structure profile. So the resistance level for the Russell 2000 1886 as long as price remains above It's read also there and change line It's favor price trying to target that level so on the play-by-plays out here We've got short-term bottom signals should at this stage here at 1 13 the afternoon should push prices higher Can it take our resistance that I don't know and to a certain extent doesn't really matter Not really. I mean it might matter to you a tick by tick and you're a short-term interday trader out there But in the bigger picture what we took a look at is price just simply trading within a consolidation pattern Let's go to our first question first question coming in from Hector and the fuel injectors and Hector wants to take a look at ticker symbol FICE FIS FIS V that is Pfizer about here. So let's do this We're gonna go to a breakout here. You'll see on my charts out here Hector I'm not sure your question, but we've got a consolidation on the daily time frame fairly large one talking about consolidations We've got a confirmed a to be equal CD to the downside on the weekly chart and although it's not shown here Bar number nine did complete for Pfizer if I believe that bar number nine took place on the month of February of 2022 Steve Rhodes with TFN and we'll be right back I'm a blooming 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 this thing which is Mount Todd is an attractive dearest party 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 at number two for the year an Amazing accomplishment Steve Rhodes is committed to sharing his techniques and knowledge with anyone who wants to learn and he shares his vast amount of trading knowledge every day in his mastering Probability newsletter Steve's award-winning newsletter Mastering probability is delivered every trading day with updates throughout the afternoon sign up for Steve's market newsletter Mastering probability and you'll receive access to seven of Steve's educational webinars Absolutely free at TFNN all our newsletters come with a 30-day money-back guarantee So you have absolutely nothing to worry about visit TFNN.com and try mastering probability 30 days risk-free today TFNN educating investors 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 markets 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 877-927-6648 internationally at 727-873-7618 Welcome back folks. So Hector writes in and he says happy thirsty Thursday back at you Pfizer can you please work a possible by the d-point on a weekly a to b equal city to down Pattern and we will do that for sure. We really like this company believe that it's ready to run up with the market So what we have out here? I've got the screen up on the HR Do you see I turned off the price for both the weekly and the a monthly timeframe? The reason I wanted to do that is I had drawn in a consolidation pattern on the daily timeframe and that's by that yellow rectangular box out there so just as the Markets many of the markets are trading in consolidation patterns So too is a fives fiveserv and it runs for about 92 to 104 or thereabouts So that's what the daily timeframe Hector communicates to us And the reason I turn price off on the weekly and the monthly is because that's the message of its profiles So let's take a look at the profiles here If you take a look at we just start with the profiles around the May 2021 timeframe on the weekly so we're looking at the center panel chart see the next profile forms below the prior profile So it already tells from profile standpoint It's in a downtrend you get the next profile that forms it is below the prior profile You get the next one that forms next one being in the December 2021 time period until February farms below price tells us about a downtrend I don't have to look at price to understand what this message is doesn't tell us whether we've got a bottom or not You asked about the a to b equal CD pattern We will definitely get to that But now you've got the new profile that wraps around the prior profile low below the prior low the high above the prior high That is a message of a consolidation. Well now if we take a look at the monthly time frame chart You have a message of a consolidation as well So even though you're saying you think this is gonna get ready to take off with the market You're in this big consolidation so your buy point out here We don't have to go any further the buy point on the consolidation is going to be down at the bottom of the consolidation So we'll go look at the a to b equal CD to the downside on the weekly time frame chart But I'm telling you right now your buy point in this because until we know if the consolidation breaks is now towards the bottom And I'd say that'd be around ninety two forty six in the daily timeframe the bottom of its daily profile I don't have any signal to suggest that price is gonna get down there but that's where I would be looking you've been looking at this now if I take a look at the Seasonal chart four five sir. This is a courtesy of the folks over at season X out here The red vertical line on this chart tells us where we're at right now What I've done is this tab taken this back 35 years Hector and Patty and then what I've selected is the mid-term election Seasonal cycle and when we take a look at that you can see that this too is telling us about a consolidation a consolidation that Likely last through at least Through September ish. So you may not price may not get down to the bottom of consolidation So that I don't know whether it will or won't but we've got messages of a consolidation coming out of our yin yang out There whatever a yin yang is now let's get back to your specific question Let's get back to the weekly time frame chart. Let's turn price back on Let's turn on the a to b equal CD pattern and here your a point out here Hector is gonna be the high from the week That began April 26 Your b-point or certainly the one that I would use would be the low from the week that began August 2nd Your c-point was about a point six when a retracement was really 65 percent That was a high from august 16th now one to one was 98 41 And on this trading week the week that began November 29th. That was a confirmation That was your first buy the d-point. It was a bull sash candle It was a bowler structured profile and quite frankly it looked like price was just simply going to break out because we had two Weekly closes above the top of its profile out there, but it did not break out. Why well What it ran into as price ran up there was a descending trend line So now, you know, you had one the first buy the d-point pattern price ran right up into its descending trend line We'll turn off the descending trend line right now Then what happens it gets to the sending trend line and moves lower moves lower and gets down to 1.272 A to b equal cd. And what does it do? It creates a bullish engulfing candle right here That's the confirmation of a buy the d-point a currently buy pattern out here. That's the week that began February 21st Then what does price do? Well, let's turn the trend lines back on runs right back up into the trend line doesn't win Well, it's doing it as we speak right now. It did it Back here after that the bullish engulfing candle on april the 25th. So hector If there's going to be movement to the upside And the only hector i'm only a talking hector out here What do you think has what price has to bust through to give you a confirmation that maybe there's a chance of upside action out there? Yeah, pretty easy pretty evident. It is that descending trend line out there So you've got confirmed a to b equal cd patterns on the weekly chart You've got two of them one at the one to one level one at the 1.272 area Again because of a consolidating pattern out there in the daily the message of the weekly profiles the message of the monthly profiles Let's come over and take a look at the monthly profiles. Let's turn price back on here Let's turn those trend lines on there price when it did find a bottom found found a bottom at the bottom of a rising trend line Let's change screens here right now What you will see momentarily is on the monthly time frame You have a td9 count bottom that took place right here the week or the month of february 2022 So if price closes below that that being 89 91 Then that tells you that the consolidation is broken and where price will likely head to first You'd have a measured move, but you also have a td9 count breakout level of 68 45 So you guys might like this stock you might really like it down at the 68 45 level We don't have that message and in fact the only message right now is you're looking for an entry point in here It's between 92 46 94 13 I would say in that range just realize that to the upside This thing is really going to have to prove itself to you but thankfully because those trend lines out there You and I now exactly understand what buyers and sellers are seeing and doing with regard to Pfizer So hope that helps you out. Thanks much for taking the time to write in and you and patty Have a thirsty thursday is well in fact don't have a thirsty thursday have a wet thursday Yeah, and i'm going to you know do that with my old h2o out here Hmm, but tonight that could be a different story We don't have any other questions that have come in. I don't think i've got anything inside the tiger's den So that says what do we do next out here? Me know because we're kind of in a boring marketplace with regard to sideways action Anything in the den is anything that anybody in the den would like me to pull up that we can do a little bit of Analysis on if so go ahead and type that in in the meantime What else do we want to look at a signal cbx? Thank you very much. So let's go take a look at chevron cbx I think we're on the white background charts. Let's just leave it there Let this thing fill in out here and see what we've got with regard to cbx I know that x on mobile formed a td9 count top That doesn't mean that it's going to turn down and let's go see what uh chevron is doing here It's in the it's in the process of populating prices by the way prices above the top of its daily Price is above the top of its weekly and actually Yeah, actually we're gonna we're gonna swell come back to the uh white background charts in a moment out here flip But what I want to do because we've been talking consolidations out here turns out that chevron was What the heck happened go along let me see if this works Yeah, okay perfect now. This is the monthly timeframe for chevron Which shows that we have been in a consolidation pattern in essence that began in october of 2008 Now that is a long consolidation The bottom of the consolidation is down around the 74 60 area in the top of the consolidation was up at around the 135 level and guess what happened in the case of chevron Busted through the consolidation in february 2022 So longer term what chevron should do is fulfill that minimum move which is equal to the consolidation pattern Chevron should be headed up to the 212 level. We come back to this up Break out here. We'll look at those white panel charts and take a look at the current signals particular simple c vx 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 metals 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 xa u hui gdx as well as more than 30 different mining equities To see for yourself the types of profitable trades that are recommended within the gold report sign up now by visiting tfnn.com Don't miss out on the next great gold trade sign up today Tfnn has just launched their new trading room the tiger's den hosted at discord Tfnn has been educating traders for more than 20 years with live programming hosted by a variety of professional traders during market hours And now they are expanding their reach with the tiger's den available to all tigers and tiger's for just one dollar for the year There's no cash or added costs when you join our community of traders in the tiger's den You can look over the shoulders of tom o brian and the other tfnn hosts while they analyze charts during their live tiger tv programs And join an interactive trading community with hundreds of members exchanging ideas Interact with other tigers and tiger's as they share trading ideas news analysis and discuss the market action all trading day Even at night and on the weekends the tiger's den at discord is accessible on mobile or tablets as well So it's always at your reach to sign up today and become a part of this educational community of traders Just visit the front page of tfnn.com tom o brian has just announced a live timing the trade webinar friday june 10th from 9 a.m Until 2 p.m. Eastern time join tom o brian for five hours of live education as he teaches you his trading methodology Right from his best-selling book the art of timing the trade your ultimate trading mastery system in this live webinar tom o brian will be teaching you his entire trading system including quality volume abc structures Fibonacci confluence zones cause and effect swing points and more we will be limiting this class to 40 attendees So please do not delay and reserve your seat today for this special live event with tom o brian All attendees will also receive a physical copy of his book the art of timing the trade an 88 dollar value Mail to you along with the free month of his daily newsletter market insights of 169 dollar value For all the details and to reserve your seat today visit the front page of tfnn.com tfnn educating investors This segment is brought to you by think or swim for more information Just click the think or swim banner on the front page of tfnn.com Welcome back folks. So uh, we will take a look at the chevron on the black background charts We looked at that monthly consolidation pattern long one right from 2008 through the present time You got a consolidation breakout gives you a measured move up to the 210 levels We look at the monthly chart out here. We can see that bar number nine is going to form This month that says that we could see a top form between this month and next month Remember the high can form on the bar following bar number nine. So how do we know which one it is stevo? Excellent question. The answer is let's look at the weekly chart If the monthly is going to top we should see a topping pattern on the weekly chart The weekly is going to top we should see a topping pattern on the daily chart Can to follow the progression if the daily is going to top we should start seeing intraday time signals for A cash for cash for for stocks We use a four different intraday time periods because they all are divisible by the 390 minute day You have 295 minute bars. You have 330 minute bars. You've got What is it five uh 65 minute bars out there? When it comes to uh 12 30 minute bars and that would be 24 15 minute bars equally time bars It's why we use these different time frames out here Well, the weekly chart shows us what does not show any kind of topping signal It is still bullish. It has triggered a roadsman to indicator signal But triggering that doesn't mean anything jellybean. What it means is that pay attention And pay attention means if you get a bearish reversal candle Then the pattern is confirmed and you have to start looking at support levels Well, the first level of support is going to be the oscillator and change line In the case of chevron, you would need to see a close on a weekly base below 177 17 As 131 in the afternoon on uh june the 10th out or ninth out here We don't have that so this chart here suggests that price wants to continue to move higher And it's likely now next month maybe that we would see the top of that gets us up in a 210 ish type level out there There is a td9 count top on the 195 minute chart but prices held support the bottom of its profile So with regard to chevron overall right now as we speak things look good You don't have a top on the daily time frame. We didn't talk about the top You didn't get to wave number f that's wave number five You could get a wave number seven top or short term top out there But right now as we speak for june the a ninth everything looks pretty good with regard to chevron So hope that helps you out. Thanks much for the request out there That was for flip inside the tiger's den got a request out here to take a look at x bi So let's go ahead not the fbi who would want to take a look at those guys out there, man if they proven to be a Yeah, well, we'll just we'll just skip it. I guess they've always been that way. Haven't they xbi those what we're gonna take a look at We're gonna let these charts here populate and that is the s and p biotech etf And the question is let me see what the question is looks like it broke out of a three-week consolidation Is now we're testing the top of the consolidation today Where does price go from here? So with regard to the consolidation pattern that you're referring to Let's get to the black background charts I can type that in we can take a look at that And uh, so I I'd say on the daily time frame I see what you're looking at on the weekly chart the center chart out here Kind of hard, you know, but let's take a look at the daily time frame I believe this is what our dinner is looking at and it's really the consolidation with inside the daily profile From the center to the top. I mean that really does that stand out to you? Also as being the consolidation. I think that's what you're basically talking about So let's go ahead and draw that rectangle box in the reason Now we're going to draw that box in just simply from that profile standpoint is because once you get a break of the consolidation Which we've had then you get a measured move equal to or greater than that So we're just simply going to go ahead and copy this paste it move it to the upside out here To the upside would then say that price should move up to about the 77 15 area So I believe that's a consolidation pattern that you're you're speaking about if i'm wrong Just go ahead and hit me upside the head with my two by four price right though price right now I should say on a daily basis back inside that consolidation So that's not really what you want to see you'd like to see price I'd say close back above 72 20 or so today if not You know, you're back below the top of that profile if you're back below the top of the profile There's no reason for price not to get back to support And you now know clearly where support is at Each time price got down to the center of that bullet structure profile. That's where it found support So it's very clear for us to know that 66 93 is your key level of support inside of ticker symbol xbi Now let's go take a look at the uh, let's go take a look at the larger set of charts out here Our multi time frame charts our white time frame charts. Let's go see what they tell us Well on a monthly basis, you had a td9 count and roadsman dominicator Topping pattern out here this negated a td9 count bottom So actually xbi is saying man look out because I may want to head lower out here Now it did find support to break out level of 64 30 if I would support there back in january 2019 back in march of 2020 And then again last month So here's what you know, and here's what I know if we see a close blow 64 30 What do you think the odds are the price is going to go down in target 44 65 I say the odds are really good So we do not have a bottoming pattern inside of xbi for the monthly time frame says just simply be careful What kind of pattern do we have on a weekly time frame for xbi? Well, I can clearly see an a to b equal cd to the downside That was confirmed with this hammer candle the week of may 13 So you do have a buy the d point pattern and prices just We'll say trading within the range of the bottom of its profile at 65 32 up to the top of the profile At 75 94 if price could close above the top of its profile something as you notice here So big upy if you take a look at this weekly chart When was the last time we saw price close above the top of a profile? Well, the answer there would be is when it wasn't a bullish run because price has not been above the top of a profile out here Uh, well really since the profile that formed in february of 2021. So what you now know You now know That if price were to close above 75 94 that's something that has not done for quite some time And that would give you a change in trend signal out there So that's something also to be watching for on this a buy the d-point pattern that it has and the daily time frame for xbi Has a nice rogement and indicator bottom So whereas price likely headed to if it closes back inside its profile excellent question I would say probably to its oscillator and change line and the center of that profile Again, that's in the 66 93 to 67 74 ish type range now Their price can clear the top of that pro weekly profile now because we know that that's really important You're kind of cool, isn't it? It's it's nice when charts lay themselves out like this doesn't always happen But when it does happen, it just makes it easy peasy with regard to what's the market or what's this stock chart communicating to us so If we get a close above 75 94 the daily time frame would suggest to move up to the 94 19 level over time So does that answer your question with regard to what's going on inside of xbi? We've taken a look at the daily the weekly and the monthly time frame charts I don't really think we need to spend too much time on the interday charts out there I think we have this relatively pegged so I do hope that helps you out Thanks much for the request out there and would love to get more requests We'll just check the email line out here and see if we've got anything And the answer is no we do not so let's go figure out what it is. We want to take a look at let's uh Let me go back here and see what was going on What do we want to look at? Oh, how about let's go take a look at these sectors with inside the s&p 500 That seems like a logical thing to do. Why is that a logical thing to do stevo? Because I couldn't come up with anything else and it's helpful So now we take a look at trend lines. We take a look at consolidating patterns out here You can see in the s&p 500 the spy We took a look at that with regard to the es mini descending trend line Take a look at the xlk price just simply trading with inside its profiles out there and a descending trend line is resistance Descending trend line resistance for the health care sector xlv It's actually also got support with a rising trend line the xly Price finding resistance at the trend look at all those nice descending trend lines out there Think that'll help us if we ever see the market try to break out to the upside Yeah, the signals here couldn't get any clearer and the market's in an overall consolidation Market out here. Is there anything breaking out inside these sectors? Just the energy sectors the way it looks to stevie See roads with tfn. We'll be right back 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 83 22 or email us at tiger at tfnn.com. That's 727 329 83 22 call us today The technology around us is changing every day with so much happening. It can seem impossible to keep up with all the information David white's investment newsletter the technology insider is designed to give you all the information You need to understand the technology that shapes today's markets and tomorrow's future David white has made his living staying on the cutting edge of technology His weekly newsletter will give you specific recommendations for value tech stocks As well as entry prices target prices and stops to set for each trade Dave delivers his weekly newsletters every friday with updates throughout the week You can get the technology insider at tfnn.com for only 37 dollars 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 the 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.com Slash biotech today an investor should consider the investment objectives risks charges and expenses of the direction chairs carefully before Investing the prospectus and summary prospectus contain this and other information about direction chairs to obtain a prospectus or summary prospectus Please contact direction chairs at eight six six four seven six seven five two three The prospectus or summary prospectus should be read carefully before investing an investment in the funds is subject to risk Including the possible loss of principal the funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor four-side fund services LLC This program is brought to you by vista gold traded on the nyse american and tsx under the symbol vgz Welcome back up folks. So we got a little bit of a sea of red out here now We got all the us indices trading the downside dows off 143 s and p's off 26 That's four and six tenths respectively nasdaq 100 about eight tenths. That's 94 points russles down one One one percent that's off 18 points of summaries off a half a percent or 14 Trend is down 60 points. That's 91 points to the downside. You got gold off five bucks silver down 32 cents out there Let's go to our next question. Our next question was to take a look at ticker symbol Give me a moment here. I don't remember what it is, but it will when I pop it up on my screen out here Oh, this is the wrong one. Give me a second here. Let's get to the proper Proper tab that is going to be right about here. Another request was to take a look at IMPP So IMPP has been traded for that long This is a energy company on a weekly base of this form day nice road's momentum indicator bottom and td9 cal bottom So this suggests it's trading right now at 81 cents This suggests and that price should at least go target the bottom of its weekly profile And that's at a buck 40 that's based upon the bottoming signals on the weekly time frame The daily time frame says well before I do that I've got a short term top in place and that's going to be that today is going to become bar number nine of a td9 count So it says the high of today or the high of tomorrow should be the high of that pattern And you should see price pull back to about the 40 cent level out here on impp So that might be your entry area Into this because you got that nice weekly Bottoming pattern out here. You can see on 195 minutes chart out here that price also made a td9 count top It did it right at the td9 count breakdown resistance level of 996 out there So that suggests a pull back to about 61 pennies out there So it looks like IMPP is getting ready to pull back that might be just simply setting up your next buy opportunity the next request was to Take look at fxi So that is fxi. We're going to switch panels out here I'll get those populated on the white charts out there I believe that is the uh long position for one of the chinese Markets out here if i'm not mistaken It's just it's uh, it's hard to find the actual index that that Actually trades within but here if we look at the daily and the weekly time frame charts They really tell us I think the message which is what that message is that price is traded right into resistance Descending trend line resistance now There's positive here Is that this is the first week above the top of its weekly profile? Just like that last instrument we looked at and I apologize. I don't remember what it was Now at the top might have been xbi Here you've gotten a change in trend signal The only thing getting in a way is this descending trend line out here But if you get a second now, this is only going to be what looks like the first week above the top of that profile You get two weeks above there. It's telling us about wanting to change trend and maybe even trading all the way up to 41 Uh 66 out there But you really have to take a look at the underlying instrument and I do not know That it's easy to do that because I think it's made up of a I just don't know I know I've tried this in the past and haven't been able to do it But I haven't tried it for a couple of years out there And and I'll really tell you what I mean because there's a request coming in for you to take a look at a rkk One at kathywood's etf. So when we do that I that is very easy because we can go take a look at not just the etf We can go take a look at the underlying instruments to get a feel for what's going on So right now here is fxi and on a monthly basis. Uh, what does stevie have not much the weekly? Shows us a confirmed roadsman to indicator bottom. So that is suggesting that does want to move higher And that's what we really looked at other than the descending trend lines Oh, you got a td9 count top inside of xs fxi for the daily time frame That's going to be a completed pattern today Now the oscillator and change line had changed colors recently So price that line should catch up to each other I don't know what formation that takes the line is currently about 31 91 or 30 Yeah, 31 91 and the uh price at 3303 But what you're looking for here is if you can get price to get down there test reject that green oscillator and change line That would be your buy point area and I apologize. I don't recall what the request was Uh, because again, there's just so much stuff that feeds through the main, uh, den It's just hard kind of hard for me to really keep tracking and do a show Out there. I mean I can I can multitask I just can't triple or quadruple multitask so to speak but fxi I'd watch for price and how it reacts at that oscillator and change line For your next piece of signal information. So I do hope that helps you out. I believe there's also requests I got to go find this one. It was if I had time What was it kweb so kweb was oh, no it was arkk So let's go do that. That was that was that's arkk was from one of our listeners out here. Michael p Michael p says, uh, where do you see a downside target for arkk? So, uh, let's do this here. So let me change, uh I get those charts up on our screen out here Michael will answer his first question specifically by looking at the actual etf So we look at the etf out here. Here's arkk. Oops. Yeah, I've got that on the right thing. Do I yeah So arkk, you know other than probably an a to b equal cd to the downside pattern I'm sure there's one that's out here price is just consolidating with inside its weekly profile Your question is where do you see a downside target? That's easy I would have to say it'd be the bottom of his profile. That'd be at 36 86 But really the oscillator and change line has been holding as support and currently today that's printing at about 4102 So I'd say really I I guess I'd change that to 40 38 between 36 86 and 40 40 38 for arkk But before you do that what you really should be asking yourself, Michael Is the following? What are the instruments that make up arkk doing now? This was taken from probably about two weeks ago So it was likely shifted a tad as prices shifted shifted a tad. What the heck you talking about stevo? Here are the top eight holdings or here were the top eight holdings a couple weeks ago We can easily go find out what they are and put them in order out here But what we're looking for and tesla was number one I don't know that tesla is is number one today tele doc was number two roku was number three zoom was number four coinbase was number five exas number six square So you kind of see it So what you're looking for here michael to really answer the question is you really want to understand What's going on underneath the covers out there? We take a look at tele doc It's got a nice a rogement to indicator bottom wave number seven bottom consolidation with inside his profile roku Rogement to indicator bottom consolidation with inside his profile zoom on the other hand Is zoom the heck out of its profile now? There is no topping pattern inside of zoom out here And that should suggest that it should have hired a wave number seven rogement to indicator bottom A price should go target 122 89 The oscillator and changeline here has changed colors michael so I would say this as opposed to making a taking a long trade in arkk which sounds like you're doing I keep my eyes right now glued on zoom see what it's going to do It's broken through profile levels out here. That's a positive If price pulls back and tests rejects that green oscillator and changeline that would be your buy Area for that and that might be a better buy than the overall etf itself We take a look at coin base as an example I don't have a bottoming pattern out here. Maybe there's an a to b equal cd to the down So i'm not going to take the time to go take a look at that, but there might be one Probably isn't but there might be one out there either way. This is just consulting with inside its profile as well Exas that looks basically horrible. I don't see a bottom there square. I'm not seeing much of a bottom You're gonna looks like you may get a td9 count top and you those are the first eight Instruments inside of arkk we can look at the next eight instruments out there We'll pop those up on the screen here. We're going to go to a break in about 12 seconds. So path path that That looks pretty good too Um So really I think you got crisper. That's going to form a td9 count top today. We'll complete that pattern tomorrow Draft kinks that looks pretty good out there. So maybe michael the better bet Is to take a look at the instruments with inside kathy woods etf Figure out which ones have the best patterns if that is some reason a etf or you know that you want to play But you gotta you gotta admit kathy woods that the instruments inside her etfs a lot of times They don't make a whole heck of a lot of sense. Of course make a lot of sense to steve We'll be right back 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 You might think that if you want to be successful at trading in the stock market You're going to need a crystal ball after all it's impossible to predict the future, right? Like any endeavor in life before you decide it's impossible get some advice from the experts You might find that it's not so impossible after all for daily market Overviews that give you direction on the key indices selective stocks and commodities Subscribe to the opening call newsletter at tfnn.com The opening call newsletter is written by basal chapman creator of the trading methodology known as the chapman wave The chapman wave up down sequence gives you an edge in identifying price turns finding the peaks and valleys in stock prices Get the opening call newsletter by basal chapman in your inbox every day First time subscribers also get a 30 day money back guarantee If you're not satisfied let us know and you'll get a full refund within 30 days of signing up tfnn.com educating investors Everything in the universe is governed by the Fibonacci sequence This mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market To stay on top of stock patterns You can take advantage of sign up for the Fibonacci 24 7 newsletter at tfnn.com When you subscribe you'll get a weekly report from veteran day trader larry pesavento on stocks You need to pay attention to and you can trust larry's analysis after all He's got 45 years experience as a day trader larry will also provide daily charts videos and data on the key markets That he's tracking expect notifications from larry on market movement You need to act on at any time first time subscribers also get a 30 day money back guarantee If you're not satisfied let us know and you'll get a full refund within 30 days of signing up Subscribe to the Fibonacci 24 7 newsletter today tfnn.com educating investors 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 Let's go to jim and palme harbert jim. Thanks for calling. Thanks for holding. How are you today? I'm doing really well. Uh quickly. I know we only have a couple minutes. Um, I had watched the e-mini I missed the move this morning. I sure I sure at 4104 As you were talking right after one o'clock it looked like we had a you know, we had a bottom And so I want to know how close to put that stop. I've actually moved my stop down to um, 40 93 And I but I don't want to get that taken away. I Do you do you see on your charts? I mean I see that 40 81 75 right there support for the day low of the day Well, so are we the signal? So now I'm trying to figure out you went short. So here's what you've got Here's what you're really looking for and I've got the 30 minute chart up on my screen out here And the 30 minute chart formed a td9 count bottom and it did that at 11 30 this morning So your real key level that you need to see price close below Is going to be the low of that bar and that's at 40 81 75 So that's your support level if that gives way then price it had lower To where you know, I'd say the bottom of the profile is a I'm not I'm sorry the bottom of the consolidation Which is around 40 71 So you're not that far away from that level if this td9 count pattern holds Then uh, you know, we should see another bounce that bounce would take you up to the 4108 area That's what the 30 minute chart is communicating to us because you're really trying to manage this granularly If I take a look at a fact, let me just change screens here real quickly If I take and I'm looking at the other interday time periods Which would be the next ones would be 15 10 minute and 5 minute charts out here What I don't have is any kind of uh signal the 10 minute chart So the 30 minute chart have roads meant to mitigate her bottom the 10 minute chart has a roads I'm sorry had a td9 count this has a roads meant to mitigate her bottom So what it's telling us is that level that low of 40 81 75 is a real key area for you Um, okay, what I don't know I would go check the the 5 and 10 minute volume as prices push down to these areas I can't do that because we're going off the air and if you're great, I didn't think about that But it's kind of interesting. They're on the eight minute chart. There was a eight We went to td count eight just between noon and 115. So that's what I jumped on the air. My apology. Thanks for calling Have a terrific day and that applies to everybody else. We'll be right. We'll be back. Uh, we'll see you tomorrow. Take care folks