 The following is a presentation of TFNN. The Trader's Edge with Steve Rhodes. Toll free at 1-877-927-6648, or internationally at 727-873-7618. The Trader's Edge. Now, Steve Rhodes. Good afternoon, folks. Welcome to the November 13th. The wonderful Wednesday edition of today's Trader's Edge show. I'm your host, Steve Perseverance Rhodes, who absolutely knows that each of us should always be pioneers of our future versus prisoners of our past. Hope everyone out there's having a great day. Hey, let's make sure we have an extraordinary one. And the easiest way to do that is to always remember that life is happening for us, not to us. That's right. We now make that one little two-by-four shift. It 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 those bulls and bears, what those buyers and sellers are communicating to you and I just passed one o'clock in the afternoon. I want you to know that I'm very grateful for your presence here, but much more important than that. During this next 60 minutes, I'm here to serve you. So feel free to pick up that phone. You can dial it in right now at 877-927-6648. If you can't dial in, we've got you covered there, too. You can always send me an email, Steve at TFNN.com inside that subject heading. If you'd be kind enough to put radio show question, of course, in our Tiger's Den, well, any ping will do. 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 Last Show. Right now, what we've got is green across the board with the exception of the Russell 2000. That's down about three and a half points and the Transports are also down for a second day in a row. They're down 83 points. They're trading at $10,876. But the Dow is up $73. The S&P is up $5. The NDX is up $10 points out there. Spotify LatuneX is up $0.33. She's trading out at $13.01. Gold's up $8. Just a counter-trend rally inside of Goldilocks out there. Silver up $18. She's trading at $16.87. Lights recruit up $0.58. Treasury bonds up $10. Ticks lead the charge to the upside. It is cardlytics. Something like that. CDLX, the ticker symbol. Up 40% or $16. Mercado Libre up $12. LineCorp up about $10 or 23%. Kinzale cap group up 9 or 10%. To the downside, it's Amazon. That's the dollar leader. It's off $16. That's slightly less than 1%. Booking holdings down $12 or $6.10. Biogen, B-W-I-B, is off $7. In fact, we're going to start there with regard to the first question that came in. We'll go take a look at the general markets. But the first question coming in about quarter to noon today. This one from Mike Kay in Sarasota. I believe Mike is still in Sarasota. Mike writes in and says B-W-I-B, that is Biogen. Let's go ahead and put our three timeframes out here to take a look at this. His question is, where to get long for December 20 option play? Can we retrace 50% or more of the 10-22 breakout from here? What do you think? So if we take a look at, so we're looking at, to Mike, the three different timeframes to help us identify potential supporter resistance. And what is Biogen doing? And so there is a new profile, not a new profile. It's a profile that's been around for about eight or nine trading sessions. The daily profile that is for Biogen. And what we know is that so far today, where price is sitting right now is at 284. And that is the center of its bullish structured box. So you are looking for a 50% retracement. Now it's a bullish structured box out there, the bottom of which is 279.89. What we like to say is there's nothing more bearish than a failed bullish pattern. And that's what you would need. So what Mike is referring to with regard to a 50% retracement, although my retracement ruler isn't going to draw 50%, because I don't use that, that doesn't mean I'm right. Mike's wrong, not at all. All that it means is Stevie doesn't use that. I use 0.786, 0.382, 0.618. But that's okay. We can still take a look at this, engage it, because what Mike is really talking about is probably getting back. We might have even put the figure down here. No, you didn't, but maybe somewhere around 268 or so. The 0.618 retracement is 257.47 out there. And that's from the low on the trading day of October 18th. I'm not even sure if that's the date that you used or not. It doesn't matter. Here's what you'll need to know. Here's what you'll want to know. By the way, price is trading above the top of the weekly and the monthly profiles out there. So breakout mode, that's in essence what the chart here for Bowgen is telling you and I. However, let's bring over our other chart. So it looks to me like price is going to make its way down to 279.89. Whether it's going to hold that area or not, Mike, I don't know. That might be a place where you'd look to scale in on the trade. The actual breakout area, so there was a TD set up nine count. Didn't identify the top out here because bars 8, 9, and 10, so to speak, were lower than bar number seven out there. Nonetheless, price is still pulling back. It's below Stevie's green line, which is 295.89. And this suggests a test of the breakout area of 275.66. So 275.66, I think is your key number out there. And if price pulls back below that, then you're going to have to look for some type of pattern to the downside. But right now let's go with the information that we have and the information, Mike, that you've got is 279.89 should be support. Maybe there's an intraday spike down to 275.66 to test the breakout area. That is where Biogen, B-W-I-B, ought to be able to find support. So I hope that that helps you out. Thanks so much for writing in. Let's go to our next question out here. The next question coming in from, let me a second here to pull it up, from Sylvia. And Sylvia wants to take a look at ticker symbol SMG. SMG is Scott's Miracle Grow. So Sylvia is looking, I believe, to get long Scott's Miracle Grow considering Miracle Grow is going long wrong. Okay, so here's what we know about Scott's Miracle Grow. Number one, four or five, six, seven days ago, price closed over the top of its daily profile, 102.56, that's bullish, suggests further momentum to the upside. Where would that momentum take us to? Right now price is just trying to regain. And it's only Wednesday. We don't know whether price is going to reject the center of the weekly profile, which is at 107.96 out there. That's really that 107.96 area is going to be a key area for you to be watching Sylvia because if a countertrend rally is going to end, and that's with the weekly chart, we're going to go look at patterns that are out here. But if the countertrend rally is going to end, that typically would be about where it would occur. You're trading at 107.93, 107.96 would be the area that I would be watching there. Price is in between the profiles on the monthly basis. So let's step back for a moment. Let's actually go take a look at the current daily timeframe chart. So the current daily timeframe chart here, what this shows you Sylvia is that yesterday, Stevie's red line turned green. And what that means is that means that the price isolated, the difference between two exponential moving averages, which I use, 19 and 39, that the price oscillator, that's the difference between those two, reach the zero threshold level. Now there's a phenomenon that typically occurs over the coming trading sessions. I wish I could narrow it down to how many. I can't. I just know that it should happen. This is what you should anticipate. And if you're trying to get into Scott's Miracle Grow, now is not the time to enter that trade. And this is where it's going to get complicated. But we should see price pull back to this green line area. The print right now is 102.57. That's not going to be the exact price when that test occurs. But that should unfold. It may not happen for four or five days out there. We'll be right back. If you're not currently using the Taz Profile Scanner when looking at setting up your trading opportunities, then your arsenal is short a mighty weapon. The Taz Profile Scanner is a standalone piece of software that instantly filters over 2,500 global financial markets such as stocks, ETFs, commodity futures, and forex. 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Whether you're watching Tiger TV live in high definition or just accessing your newsletter subscriptions, we even have new pricing in six months and yearly options. Check out the new tfnn.com now and experience all the upgrades. tfnn.com, educating investors. Welcome back, folks. You've got the Dow Up 70 S&P is up for, hey, in the production room, can you guys get my charts here to show up inside the Tiger's Den? That would be great if you could make that. It makes it a little bit easier for them to follow along with what I'm looking at out there. So we're going to switch back right now and take a look at the chart. Let me see here. I think I've got to make sure that that's actually working now. Yeah, okay, so you should be seeing my charts. They're not in the den. We'll make sure that the production team gets them up there. I should hear a few clicks and I don't hear any clicks out there. But anyway, but let me just continue taking a look at Scott's Miracle Grow. Now, we had mentioned, we were taking a look at the, let me get to the right chart here, that my concern is in taking a look at the weekly chart, Soviet, knowing that price had broken through the bottom of that bullish structured box. And when we pull over my other weekly chart, now you and I can clearly see why you and I should have some concern. When this did make its top out here and it made its top on August the 2nd, it was with that TD set up nine count pattern. And so it just, why it's a difficult call is because this could clearly be just a counter trend rally in that move with price getting ready to pull back in the 8950-ish area. And the only way for me to know that, or for you to know that, is really to watch what happens at the 107.96 area. So here what we have is we've got a clear topping signal. We just looked at it from a weekly timeframe. And then when we take a look at that weekly timeframe, we can see that price broke through a key level of support, the bottom of that weekly profile. And now, if this is just a counter trend rally, which is really what the daily chart is suggesting right now, or at least that there should be a pullback out here, not that it starts today, okay? Just want to make sure. I'm not saying that it starts today. It might not start until Tuesday, you know, because it's in day number six, and you've got seven, eight, nine, and 10. So you've got four more days, right? You've got Thursday, Friday, Monday, Tuesday. So maybe it doesn't start until Tuesday. Maybe it's Monday. Maybe it doesn't start at all. But watch 107.96, because if this is just a counter trend rally out there, well, you might get more than just a test of Stevie's oscillator and change line. And what I have seen is, because at the 107.96, that's both where, in essence, sellers, sellers are very close to that area. 107.96, we know they're at the 106.29 level. So I would, I know you want to go along. I would say this one is a difficult call for me. If I look at the monthly timeframe chart, monthly timeframe chart, you know, it's in between support and resistance. And resistance is 110.12, and support is 97.86 out there. So that's the best I can do for you, Sylvia. I hope that that information helps you. Let's go out to Ron in Denver, Colorado. Ron, thanks for calling. Thanks for holding. How are you today? Great, Steve. Warmed up nicely here in Denver today. Oh, good. The smell is gone. I would like you to take a look at Cisco CSCO. Yeah. I like it long-term. They're supposed to bring their earnings out tonight. And I just wondered what the chart looks like for you on a short-term basis and a long-term. So let's take a look at long-term, because you had mentioned that you were looking at Cisco from a long-term standpoint. And here's the problem that Cisco has. And that's this, that if we take, if we come back, well, really you could almost start from, you could almost start from here, from August of 2018 on a monthly basis. So our long-term basis, price was rising with less relative energy out there. And we can see along these highs out here, you can see the bearish engulfing from May of 2019. We can see another one in August of 2019. And each of these are confirming the road momentum indicator top. So I don't know what Cisco's going to, you know, how the market's going to respond to their numbers, but there's a significant or major topping signal in play for Cisco on a monthly basis that Ron could take price down to $31.45. Over what period of time? I don't know. It's in play. Price is below Stevie's green line. So the monthly or the longer-term chart says to both you and I, hey, hold off here. Now, when I take a look at the weekly chart, and I haven't gone to our market profiles out here, but when I take a look at the weekly chart, we can also see a road momentum indicator top. Price moving higher, doing less relative energy. Price moves lower. And if the move that you're seeing yesterday and today, this is a weekly. Last week, I should say last week, and this week, is just a countertrend rally. Well, that's what it's signaling to you and I. I remember the chart that we were looking at just before Cisco out here, Ron, was Scott's Miracle Grow, or Scott's whatever the name of the company is. And I was talking about how when my oscillator and change line changes color, tells us the price oscillator is at zero, and there's a phenomenon that price and that line will catch up to each other for a test. Well, that's exactly what transpired here in Cisco. It was the week of October 4th, where the line went from green to red. It's taken two, four, took five weeks, five bars, if you will, for that test to unfold. And last week's bar in Cisco was a bearish signal. Price bouncing up to that line, rejecting it. And that's what we have in place right now. So the message here on a weekly basis and the monthly basis is anticipate lower price, $43 there. And if I just look at profiles, yeah, prices above the daily profile. Oops, shoot darn. So that's nice. Let me go grab that chart here. But, you know, I'm getting these other signals that are more reliable. See, we use the market profiles just to help us identify support and resistance. So that's how I use them. And you know, it's important for us to understand where those levels are at. What we do is we use my other tools to help us identify tops and bottoms. Now, on a daily basis, on October 10th, what Cisco did was it formed a nice road momentum indicator bottom. Okay, it did that. But now what we've also seen is the counter trend up to resistance on a weekly basis. So based on that information, and not to have confused you at all, but obviously each time frame chart that we're going to look at is going to give us a different signal. So let me just summarize this for you. The monthly chart says be careful because you've got a major topping pattern. The weekly chart, which also has a topping pattern. The rally that was caused by this nice bottoming signal in the daily has hit the level where a counter trend rally would end. And that's what I see when I take a look at these charts. So based on that, what would be the trade that you would take out there? Would you take a trade? Well, I was going to look at a trade out about three or four months. And on an option place, on an option play, but I'll guess I'll wait for see if it does a little pullback after the earnings. Yeah, I think at this stage, I mean, the best information that I can share with you was, hey, yeah, there was a bottoming pattern on a daily basis, but when we take a look at those longer term time frames, which is what you were considering, they are suggesting that all that this was was a counter trend rally. Now they're coming out with earnings. Let's find out who's right from a chart standpoint out here. Yeah, they changed their business model. They went from hardware selling motives and all this to a lot more software and subscriptions and so forth. We'll see if that helps in the long term. I thought long term it would help them. And that's why I wanted to look at it. No, sure. Cisco from a monthly standpoint was in a long term consolidation from back in 2007. And that's this yellow rectangle, Ron, that we're looking at on my screen out here. And what Cisco did was it made that measured move. So typically when you break a consolidation, the move is equal to or greater than a consolidation. We can see that Cisco did that. And then it created that topping signal out here. So I would just be careful with Cisco. Wait to, you know, give me a call tomorrow. Let's take a look and see how Cisco is trading after their earnings. See if there's any new information. All right, my friend. Okay, we'll do. Thank you very much. Appreciate it. You bet. Thanks for the call. In Denver, Colorado, we'll be right back. In the nation for the S&P 500 for the last 12, 6 and 3 months. Timer digest also ranks me as the number one market timer for gold as well. The fact is markets can be timed. And I'll teach you the exact set of tools that I use that has transformed me into one of the best at what I do. 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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. That was up 61 S&Ps, up for NASDAQ 100s, up for points as well. And before I go back to the questions that have come in, let's just kind of get an overview of what's going on right now in the market. Try to make it easy, peasy. We'll come back and spend more time on this after we've answered all of the questions. But if we take a look at the Equity Futures contract, and I share with you what has transpired thus far today and why these tools that I use, I believe are so important to both you and I in being able to identify what the markets are doing. The oscillator and change line, and you've watched this on Tiger TV, I'm now looking at, don't worry, I'll get it out. I'm now looking at, or you're looking at, we are looking at, the ESMini, that's the top panel, the NQ center panel, Dow bottom panel. You've got all three of the Daily Equity Futures contract. So the only thing that I have out here right now from a tool standpoint is our TAS market profiles are, no, I don't have those, this is our TD set up nine levels of support or resistance, along with the Chapman Wave counts out there, and the oscillator and change line. And that's really the key. Ron and I were taking a look at the oscillator and change line, we were doing that, we do that on all of the instruments that we look at. And the reason why that's so important, why that line is so important, it's the following. When you start to see price pull back, the question should be, okay, it's pulling back, but where's support? Is this just a normal and natural retracement back to support? Or is this the start of something more? And how do you answer that question? Well, the key is you've got to be able to have reliable levels of support that must be broken in order for there to be a change in trend to the downside, likewise. You must have reliable levels of resistance that when broken tell you about a change in trend to the upside. And that's what you and I do, and it's nice to have these objective tools to be able to do that. So if we take a look at what has transpired so far in today's market for the ES, the NQ, and the Dow, it has been nothing more than a test of support. The oscillator and change line, Stevie's green line, it can be red out there, it changes colors like a chameleon really helps us because, boy, when that line is red and price is rejecting any bounces to the upside and it continues to move lower, those are what you would call bearish confirmations. That the move higher was just the counter trend move out here. We're not dealing with counter trend moves at this stage of the game, we're trying to identify as the market broke through any levels of support that are key. And these are the areas that you'll want to be watching during the Dow. So we're going to take a look at the ES, the NQ, and the Dow is 27.539. And folks, any time the market pulls back into those levels and it's just testing it, just testing it, it's all it's doing is just telling us about a normal retracement inside of the markets. And that is what's going on when we take a look at the daily timeframe charge for the ES, the NQ and the Dow equity futures contract out there. So we'll come back to those areas. I want to make sure that I get all the questions in if I can because I really appreciate when you do send me questions. First, it makes the show go smoother. Second, I've got to immediately take a look at something and give you my assessment. But all I'm doing is over and over and over again using the exact same tools to reach a conclusion. And if I can be consistent then anytime about an instrument and we go through this it should be easier for you. And most important really is I believe in these tools you should believe in them too. They are the tools that led me to that number one market timer rating out there. So we know that these tools work because you and I put these to use against 100 plus other great market timers that are out there. So we're just going to use them consistently and hopefully you're allowing to pass along to you this great set of tools so that it can assist you in your trading and investing and it can assist your family, your children, your grandchildren, everybody out there. Because when in this world we talk about wealth inequality or when people talk about wealth inequality this is the easiest way to bridge that gap. Right? There's three ways to accumulate wealth other than the inherit or marry into it. You either start a business and you're an entrepreneur and you do it the same way to do it. Two, you do it through appreciation and real estate, fixed type assets and then third you do it through markets. Doesn't matter to me whether it's an equity market, a commodity market, a currency market. These tools are agnostic to the actual instrument that we're taking a look at and if you just use them the same way they will assist you and from time to time the messages will be mixed. Like we were running out, we take a look and you don't want the counter trend rally in Cisco could very easily be over. Now it'll be interesting where the charts the charts know more than you and I do about how it's going to react Cisco that is to the to the news. So the release of numbers out there. I don't know the answer but we do know that we've got kind of a the longer term or intermediate term is saying not so fast out there. Okay, so enough about that spiel. Let me go, we've got three questions in here. Let me get to these. Let's get right from Sarasota. He's back. He's looking to also take some calls on the XLE. And so if we go take a look at the XLE again, let's just start off take a look at three timeframes for the XLE daily, weekly, monthly, just understand where is price trading relationship to support or resistance here on the daily base right now prices testing will call level one support, which was old resistance at top of the daily profile 5976 low today has been 5954 close below that Mike then from a daily perspective, we would say price would target 5915 or 5854 it's an equally distributed daily profile. But right now, support from a daily base at the top of the daily profile is held and that looks good. However, when you're gonna go take when you and I go take a look at the weekly timeframe chart, we're like maybe not so good. Why? Because the top of the profile was 6007 you're back below that right now. So the weekly is saying, you know, I'm not convinced about this bullish move you're asking me is it a good time to go along here. We can say that the weekly chart is on the fence because it's really sitting on the fence so to speak and the monthly timeframe chart is saying are you kidding me? Well, it's not exactly saying that but here's what it is saying. It is saying that it is rejected this the month of November, obviously that it's rejected resistance, which was the bottom of its monthly profile at 6086 out there. So that just tells us support and resistance again to summarize monthly is saying you haven't proven anything to me weekly is saying in a last week may have just been a one week aberration I like to see two bars above resistance in this case here be two weekly bars so we won't know till Friday and the daily is sitting there saying well I think I've held support but my friends on the weekly and monthly side are saying hold your horses now let's start from the monthly going backwards out here Mike and we take a look at the monthly chart what else do we know about the monthly chart well what what price is done over the last many months is tested and rejected it's read oscillator and change line that's bearish when you get up in you because it tells us we still have a falling price oscillator below zero and so generally speaking that is bearish so the message from the week or the monthly charts from both its market profiles the oscillator and change line it's still bearish the weekly time frame chart what is its signal to you and I its signal to you and I is it's sort of bullish there was a road momentum indicator top it confirmed with the gap upon the week of September 13 out here but I see declining highs on the weekly time frame for the XL E and Mike PS day resistance we take a look at where price stopped on a daily basis right at its breakdown level 61 52 we'll be right back if you're in the CD market and looking for a secure investment the Tiger first mortgage program may work for you the security for these first mortgages are building lots in the tax opportunity zone in St. Petersburg Florida the tax act of 2018 set up tax free zones across the country where you can build and hold for 10 years and pay no tax on the profits which is 75,000 the interest paid is 7% yearly paid on a monthly basis according to bankrate.com the best rate for a four year CD in the country as of February 20th is 3.1% of $50,000 investment at a normal four year CD rate of 3.1% would give 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investors distributor foresight fund services LLC 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 for the latest market information welcome back so we were taking a look at the energy sector the XLE for Mike and Sarah Soda and so that rally off the bottom by the way so and Dennis is asking me a question here and so Dennis take a look at this this is the XLE on a daily basis so the TD9 count actually confirms on the trading day of October the second and when that was confirming it was also testing the breakout level 5638 support so was generating a signal to you to us to all of us that the XLE was likely forming a bottom now what we know is that when the nine count forms you would typically see in this case here at the bottom would form either on bar eight nine to the bar following nine number ten now in this case here we can also see if we go back a little further that the XLE was also bottoming with roads momentum indicator pattern back on August the 28th prices pushed lower doing less relative energy so in essence another confirmation of a strong area of support out here and then once price gets above Stevie's red line out here it's an indication that price wants to move higher now Dennis I know you and I could do this after the fact right now or Mike who's probably listening in or looking in but the level once price gets above the oscillator and change line in this case here I don't have the market profiles on this chart but what we would say is what prices targeting based upon that bottoming pattern is where price had recently broke down and that's what that solid green line is now was established by the TD set up nine count sixty one fifty two so that was that was in place well that went in place on the trading day of October 2nd it was the day of November 5th four five six days ago out here trading sessions ago when price gets up to that level and does what stops dead in its tracks how important is it for you to understand where support and resistance is if you're in a trade what you can anticipate out here now what was also taking place on that date Dennis Mike was Stevie's red line had turned green the day before green with envy November the fourth out there so what does price do it it hits resistance it backs off we know there's the phenomena associated with price testing that line the oscillator and change line when it changes colors that's exactly what took place yesterday and so now Mike what you've got going on is price is yesterday was a test and rejection today is a test and rejection on the bearer side yesterday was the bullish side out here so can I suggest to you to take a long trade in the XLE right now the answer is I cannot because now on a green line just tells us that prices likely to move back to another reach to another support level so where would that support level be well here we can come back to the daily time frame chartness where so this is where we're kind of stuck in in in Middlesville so to speak because when we go look for that next level of support well price actually found it on the daily time frame 59.76 we're trading at 59.85 so not by a lot okay nine cents right now but prices still above that but a close below 59.76 Mike we're looking at 59.15 or 58.54 out there if price were to close above Stevie's green line around 59.94 right now all that that would tell us Mike is that you know maybe price going to take another run for the 61.52 area but you've got resistance you know where the numbers are I hope this helps you out with regard to XLE and then the use of Stevie's tools out there and Dennis said that was just kind of live so hopefully that helped you as well as well with regard to understanding how to utilize this tool out there and no problem for double dipping so to speak Mike we'll even let you take a triple dip but it would be a triple lindy if you're going to do it now Alan writes in and Alan says please do stock analysis on symbol VMC Vulcan Materials so let's go take a look at Vulcan Materials and then I guess in order to be able to take a look at Vulcan Materials although you can't see Mary enough because it's on my camera but if you did I'm doing these at Star Wars or is it the Star Trek I think would be Star Trek right I'm kind of bad on both of those series by the way but I think would be Star Trek where they would do maybe the Spock he had the Vulcan ears didn't he maybe this is Spock's stock out here for all I know but you want me to take a look at get to it already Stevo enough with the jibber jabber out there but so for taking a look at Vulcan Materials which we are we know the prices trained below the daily the weekly bottom of its profiles out there so not necessarily the most bullish thing that we could take a look at the monthly is above the top of its profile so you say the equity is broken out and I'm telling you man be careful I think it's broken down but you say broken out an impressive looking 12 year cup and handle and that's the problem we could go out to breakfast and I like that but I don't know the cup and handle pattern out there so I basically I suck at that and I can't suck it like suck a tash but but you're long okay you're long you're in the money I see that okay so that's good so you just want to really know when you want to when you should buy more when you should buy more this so let's take a look at the other time frame charts how out here when you should buy more and sounds to me like maybe you're a long-term trader out here well remember the week or the monthly chart is trading above resistance the top of its profile out here that's why I say we don't use the profiles to help us identify a top or a bottom just simply support and resistance but understanding where support and resistance is is worth its weight in gold out here now with regard to Vulcan materials so far this is top with a TD setup nine count it did it last month that pattern is in play now what's transpired is what's supposed to transpire which is prices supposed to push its way back to support now the month is not over but if price were to close below Stevie's green line 13621 if you want to know where the next buy area is it's well below the price you're currently holding because it's 100.50 so if you were just simply a long-term trader out there you're watching this month and watching to see if it closed below Stevie's green line 13622 because it does have a top in place and we know that support is down at 121.72 the top of its monthly profile so the monthly chart for Vulcan materials says just be careful what's the weekly chart tell us I don't know let's go find out weekly chart does the same thing not really the same thing but the same thing from the standpoint tops with a TD setup nine count Dennis you're asking me hey is this a good standalone tool if you if you were this tool is so easy to to calculate on your own Dennis easier if it's a weekly monthly daily chart than like a five-minute chart obviously but if you are and you don't need to be a technologist you don't need to know anything about charting other than where an open or close of a candle is and then the ability to be able to measure is this close greater than the candle four bars earlier for up counts or is the close lower than the bar four bars earlier for a down count now when you get that nine count the hair on the back of your neck should start to be able to stand up you should be on guard you can look for signals you can look for candlestick signals you can look for steve's green line but if you didn't have that and all you had was a nine count and you were long this you know you would start to make sure that you tighten up your stop to let the market take you out you don't have to take yourself out you know you should anticipate that there would be a pullback to where well at least the steve's green line count formed on a weekly basis that TD nine count price is already below steve's green line suggesting a further pullback and a pullback to where the breakout area 135 37 so far that has held but you still got a real valid topping signal and a counter trend rally would peter out so to speak at 147 25 steve's green line we'll be right back basil Chapman has just announced a live 90 minute webinar he'll be conducting for subscribers to his daily trading newsletter the opening call which will be taking place Tuesday November 19th from 5 till 6 30 p.m. eastern time titled a comprehensive review of the Chapman wave techniques and market outlook ahead for 2020 this is a great time to sign up for a 30 day free trial to the opening call while gaining access to Basil's live subscriber event taking place later this month with some stock picks up 15 to 30% this year alone Basil will review many of the Chapman wave techniques that helped in their successful analysis as well as providing the 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That was a 113 S&P is up six and so let's go back to finish off for Alan VMC. So Alan here's what we determine before we went to that break. You've got topping patterns on the weekly and the monthly but each of those topping patterns is priced down to test a level of support and so far on the monthly and the weekly those levels have held. If those levels fail then that says you've got more downside correction and we can take a look at those task market profiles to determine where they're going to go to but with regard to your existing position what you should anticipate over the coming days out here is we can also see that VMC it loves the TD9 count it made a TD9 count on the TV's red line. 139.50 or give or take you know chop the sense off you're 138.12 so I would just simply start top start start adjusting your stop here I would not be looking to add this until you had some additional proof out here and for me the additional proof for you because TVs red line is red you need to see a close above that and even if you do that would then say your next upside move was 149 so we know on the weekly and the monthly it's held support that would suggest to me that on the daily basis price you get up to test its resistance area and that's going to be your 139 and change area so help that helps you out with the VCC the last question here coming in from Kay we've done pretty good let me see if we get to Kay's question where is that oh my goodness where did it go there we go well is the ticker symbol AAPL I'm just gonna I I'm not I don't have time to read your question but prices above the daily weekly and monthly time frame TAS market profiles on a monthly it's in bar number nine of a TD setup nine count and prices moving higher doing less relative energy out there says that we could see a top in Apple this month or in December out there we look at the weekly timeframe chart and show us any kind of a top so that would push more towards probably the December timeframe and to however the caveat is if it's going to top then today is it because today is day number 10 of a TD set of nine count folks thanks so much for being here I look forward to seeing you on terrific Thursday have a great next day