 The following is a presentation of TFNN The Traders Edge with Steve Rhodes All now toll-free at 1-877-927-6648 or internationally at 727-873-7618 The Traders Edge now Steve Rhodes Good morning folks welcome to the February 23rd the fantastic Friday 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 and let's make sure we have an extraordinary one now the easiest way to do that Well, 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 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'll go figure out what those bulls and bears what those buyers and sellers are communicating to you and I at just past 11 o'clock in the morning. I want you to know I'm absolutely grateful for your presence here But even more important than that and that's this during this next 53 minutes I'm here to serve you so feel free to pick up that phone would love to hear from you eight seven seven nine two seven six six four eight Now if you've got a question, but you can't call it. We've got you covered You can send me an email send that one off to Steve at tfnn.com Inside the subject heading, please put radio show question. Of course if you're inside our Tigers dead Well, then any and every ping will do so let's go ahead and get this show started on Fantastic fabulous Friday, of course, this is Tiger financial news network. I'm Steve Rhodes. Welcome to the show We start our day with a mix bag the mix goes like this You got the Dow trading upside 135 S&P is now flat Nasdaq 181 Russell's off five some eyes down 65 trainees up 115 Gold's up 12 bucks silver's up a penny lights recruiters off a buck natural gas down 12 cents in the 30-year treasure Printed out 118 19. That's up 17 ticks our leader in the clubhouse to the upside dollar wise is comfort systems comfortable up 9% 23 bucks regenerate 18 bucks nearly 2% Carvana 34% 17 bucks their Hyatt hotels 11 bucks and block is up 11 That's a 16% move the shakers to the downside booking holdings 362 buccaneers. That's a 9% move Mercado Libre 231 bucks 12% super micro 137 bucks 14% micro strategy 4% 30 bucks Fox factory holding down 19 That's a 30% move to the downside. So we got movers and we've got shakers But let's begin our day by switching and taking a look at the equity future contracts Let's dive down into the intraday signals out here. We're gonna change our screens momentarily We'll be on those white background screens You've got multiple time frames daily isn't up your upper left and then all the way down to 10 minutes in your lower Right, so we just start with the 10 minute time frame chart bar number 8 This says in the end queue you could get some type of TD night out bottom between 1110 and 11 to 30 out there So you want to watch that that would suggest a rally up towards the 18,000 050 ish rains 15 minute time frame chart is not an agreement with that call nor is the 30 minute time frame chart Nor is the 60 minute time frame chart nor is the 120 minute time frame chart So another area of potential support out here I would say I'd focus on the five hour time frame chart and the reason is because that has that's going to complete a TD 9 count top at 2 p.m Well bar number 9 already completed. So it's got that confirmed pattern So if we're looking for support to the downside if the 10 minute time frame chart does not generate a TD 9 count bottom And I would say the next area for the end queue to target would be in that 17909 ish type area out there That's the ocelerant change line for the five hour time frame. That's what's going on. We take a look at the end queues Let's go take a look what's going on inside the ES mini. It's going to take just a few moments here to populate While it's doing that Oh, you know, we'll do we'll do the ES mini Mr. Bill had a question about the VIX and VIX futures out there and just the VIX in general So as long as you're at the ES mini, we're gonna stay here I won't go take a look at that But we take a look at the ES mini up the left-hand side just in this case You know, let's do reverse order since that's what's populated You got the daily time frame if it did generate a bearish reversal candle today and at the present time at 1110 It's showing up as a shooting star No idea what it's going to look like at five o'clock tonight But if it were to be a bearish reversal candle that would confirm erodesment and indicator top now Even if it did that price is still above profile in the green oceler and chains on so the condition would even be would be Neutral even with a top out there because being above resistance. That's just simply bullish If we take a look at the five-hour time frame chart just like the NQ has a TD 9 count top So too does the five-hour time frame chart for the ES mini now in this case here price hasn't even gotten below The prior bar is low out there. So I'll tell you what the price target would be is 5075 that's not what I'm telling you is going to be the price target. What? It price does get below the low of the prior bar out there then I'd say we had to 5075 But it hasn't done that yet. We've taken out the high of that prior bar out there So that shows sure the 240 minute time frame chart. It's got supported 5084 120 minute chart this bar completes that noon right now You've got a bearish reversal candle it could take price back to the 5073 level We're at support on a 60 minute time frame. It looks like the 60 and a 30 are gonna give us some very good signals here Those signals being 50 95 50 a price closes below that on a 30 minute time frame We are likely headed lower out there the 30 minute time frame It's got both a TD 9 count and a roadsman to minute kid or top and now the question is will support hold I don't know the answer to that But I would say as we go into perhaps the last segment of the show We should be able to move back take a look at some of these charts and get a bit of an update So that's what's going on here inside the ES mini as I mentioned Mr. Bill asked about the spot politics future contracts and so forth. So let's just stick with the theme here of the s&p 500 Let me see. I think I Might have opened up some charts for that. Did I did I did I here we go Vicks charts? There we go So now with regard to Vicks futures What I've done and I'm not sure exactly what your question was a mr. Bill so I've just kind of taken it and we'll just go here the number of people like to trade the volatility indexes It's very difficult to find a great pattern there for folks to trade The best one that I have found is you trade UVXY or you've went at which whatever the symbol names are You get down to like a two or three minute time frame chart You get market profiles and you pay attention to those that's what I found is a great way But first it's important to also understand what's inside the UVXY. It's not the spot It's not the cash index out early the industry out here. It's the futures contracts and right now It's two future contracts and you've got to pay attention to that sometimes there'll be two sometimes there'll be three Maybe there will be one right now the March contract represents 74% of the weighting inside of UVXY So don't be paying attention to the spot ball to next you for trading UVXY 26% of that weighting is in the April contract And so you'd really want to be paying attention to those with regard to the spot ball tonics What I have found to be the most reliable although the last week here somebody'd have to say as Stevie You're reliable is a little bit shaky. It's on shaky ground and that's true We're gonna show you there But here the lower left hand chart out there that blue line is a 50-day exponential moving average That's really a key area. I did some research on this a deck over a decade ago And what I did was I just simply tested all exponential moving averages in the spot ball to next and which moving average And price need to be above or below to give us a a great signal on what that meant for the S&P 500 Whoo, so that was a mouthful out there So let's go switch over to those charts in order to do that what we're gonna do is we're gonna go take look at the black background chart So if you give me a moment, we'll switch over to that set of us screens. We will go to This now we know we're already done. We've already taken a look at that. So here is The spot ball to dex at the bottom of the screen the red line is the 50-day exponential moving average the green and red Rectangles squares whatever shapes they end up being show time periods where the spot ball to next is above or below the 50-day Expense moving average. 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Just visit the front page of TFNN comm Call now toll-free at 1-877-927-6648 internationally at 727-873-7618 Good back folks. So we're taking a look at the spot ball of children. It's we're taking a look at the 50-day exponents moving average For the spot ball of children when prices above or below that level the green Boxes they represent when the spot ball takes is below the 50-day expanse moving average So when it's below I like to say that the S&P 500 is likely gonna move sideways to higher when it's Above it's gonna move sideways to lower. Well, if you take a look at the last since February 12th out there That's when the spot ball takes closed above the 50-day Actually, we've seen the S&P 500 move higher. So it's a divergence for sure But if that spot ball takes were to close a day below 1390 right now, we're at 1417 Everything would line up when I say line up line up for a further rally with this condition remaining here It just says we should certainly be cautious. Okay, let's go get over to some of the requests that have come in I want to get too far behind on that We're gonna switch back to those white background charts and the first thing we're gonna take a look at is Rivian so give me a second. We'll get over there first thing you're gonna see here are the equity future contracts We and mr. Bill I hope that provided with the information we're looking for if not right back to me Let me know specifically if you would what you were looking for and and I'll get to that for you So let's go take a look at Rivian our IV and is the ticker symbol out here This individual is looking for a bottom in Rivian as we take a look at the daily time frame We don't see any kind of a bottom out here. No bottom signal bar number three Wave number five. I don't see a bottom on the weekly time frame. You're at all-time lows on the monthly time frame I don't see anything here. So I say stay away from Rivian Yeah, I don't see anything. I don't see anything out here Did this really set did some shares really go off at 180 bucks or so Or was that like a reverse split or something and then even no bottom signals out there yet another request Which was to take a look at mobile. I m bl y is the ticker symbol out there there You're looking for a bottom as well if we take a look at m bl y what we can see is that today Is going to become bar number eight of a TD nine count pattern So this has got some potential for you in a weekly It's going to be bar number eight of a TD nine count pattern now as I take a look at just simply the daily time frame charts out here We haven't seen a close above a prior high Well, quite frankly, we haven't seen it for for a while We haven't seen it since February the ninth out there So you've got rogement dominicator signals been triggered that needs a bullish reversal candle TD nine count the blow can occur and bars eight nine or the bar following nine On a weekly basis, I'd say you want to at least get a bar number nine to form out there So come back and take a look at this towards the end that we keep monitoring the chart I would say Because he's talking you know bar number eight down the weekly you still can get a TD nine count Even if we get a little bit of a rally out there So between the two and you'd give me a long list and I don't have time to do all those up for you But between those two I would say the one I'd be paying attention would be a mobile EMB l y um Hector and Patty wrote in and it kind of an interesting question out here And their question was how does the market perform during during the Olympic years out here? So You know then here's here's our seasonal set of charts I've got it selected right now for the S&P 500 which the S&P 500 I go back to 1928 as the beginning year So one of the I'll just let me just clear this out and then I'll start from the beginning out here So one of the cool features that the folks at season X provide for us on our seasonal data Is we can select whichever years we want so my recollection and I didn't get your message Until just like about five minutes before the show start and so at some point in time So then I have to ask you Hector and Patty summer Olympics or winter Olympics So the Olympics used to be every four years right But at some point in time in the last couple decades it started switching to every other year right was a summer and then winter Right, so we've got the two years So I'd really have to go back and truly study that but one of your other questions was During Olympic you first get them up with Olympics and then Olympic even years Well, I think all Olympics are uneven years. I could be wrong about that I'm probably wrong about that, but I think I might be right about that. Oh, so which one is it Stevie? I'm not sure but I think most Olympic years are even so what I can do is one of the tools I'll find I'll get to it. Don't worry. Just just stick with me If if I can select even years so we can take a look at odd years There's one easy shot another one would be even years If I knew which ones to delete here that weren't truly Olympic years on the even ones I would do that for you Hector and Patty But so here is even years just for blanks and giggles out there What we can see is that this tells us during those years We pretty much are in a consolidation pattern up until about the middle of April and then we typically see the market move Lower market moves lower into about the middle of June. We get a nice little rally into the end of August And then the lows that typically form sometime in October So that's what the even year cycle looks like taking us back to the year 1928 for the S&P 500 out there So that's the best that I can do it doesn't want the events area here So there's also a number of different events that we can choose another miscellaneous. Unfortunately. It's got Super Bowls It's got solar eclipses lunar eclipses AFC NFC, but it doesn't have it doesn't have the Olympics out there So with and other than doing a bunch of work, which I would do if I had the time I just don't have the time so Hector and Patty. I hope that that helps you out Let's go take a look at our next request is coming in from Jack inside the Tigers den Jack would like to take like a chicasable GCT out there and we take a look at GCT. No idea what it is We don't really know to need to know what it is. We're agnostic to what the instruments are We're just following along with the chart pattern. So the chart patterns here You've got a roadsman to indicator top on the daily time frame That's basically led to a consolidation if you will with inside his profile and the profile range is from 27 30 up to 33 33 It actually price did spike all the way down to test its breakout levels for them daily time frame You can see that Jack and that was at 224 25 out there So What do we have? We've got just simply consolidation with inside profiles in a daily top How about in the weekly time frame the weekly time frame looks to me like if we've got a completed a to be equal CD pattern, let's pull this back a bit and Yeah Hard to say if we really do or not The reason why I say that folks is because the B point for the a to be equal CD Not what I would do is that print probably start down here in September The B point that I would use would be this candle right here from January 12th of This year the problem is that's also the low There's no lower low that takes place after that high So, you know using the same bar for an a to b equal CD. I just don't like doing that out there That's not basically Not saying that you can't it just so I don't know if there's need to be completed here in the upside What we do know is we had price push all the way down test support That was a green answer and change line on the weekly time frame So this remains bullish out there and on a monthly while the monthly time frame says that GCT May come to a slowdown here at the end of the month Why because this is the this is it gonna complete a TD 9 count top So though monthly's got a TD 9 count top the dailies got a consolidation roads But demedicator top in the weekly Steve's uncertain of so it looks to me like I would be watching If the monthly chart starts pulling back you've got to watch that 2425 level if you get a close below that We probably have some kind of change in trend signal and then we want to come back to the weekly time frame chart Understand where price is trading in relationship to that oscillator and change line But you break 2425 you probably close below that as well. So seven seven seven I hope that that provided with the information you're looking for on GCT, which is giga cloud Technology so we come back from this break. We're gonna take a look at Berkshire Hathaway PGR Las Vegas Sands, I believe LBS LRN for Duncan Steve EKT for Mike and Pennington and the GDX For Hector and Patty Steve Rhodes with TFNM. We'll be right back as a precious metal gold is still king It continues to hold the most effective safe haven and hedging properties across the global major trading hubs of the London OTC market The US futures market and the Shanghai gold exchange the gold report Tom O'Brien publishes his weekly gold report every Monday morning for subscribers consisting of coverage of the XAU HUI GDX the dollar bonds the South African Rand as well as 25 different mining equities with specific buy-sell recommendations the gold report New subscribers get a 30-day money back guarantee so you have nothing to risk Subscribe to Tom O'Brien's gold report newsletter now at TFNM.com 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 TFNM You'll get advice and guidance from the authority and technical market analysis And it's not just dry tedious text either TFNM airs live financial content streamed live on TFNM.com and TFNM'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 TFNM.com or on TFNM's YouTube channel and become the investor You were born to be TFNN educating investors Are you ready to take charge of your financial future? 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That's TFNM.com then hit watch Tiger TV Welcome back folks. What's Stevie do here? Eko, you know that's right came by email just my apology folks for the Nope, that wasn't it. I just had a request ekt Hmm, you know So Mike Mike if you're listening Mike and Pennington ekt for some reason I don't get I don't get anything on that So if you want to write back to me, that'd be great and I'll try to Yeah, I'm not getting that symbol so there must be a mistype there, but that's okay So now I just wanted to at least throw that out there. Let me know and hopefully Mike is listening So let's go to our next request which was that take a good Berkshire Hathaway BRK out here So bar number seven of a TD nine count So we don't see any kind of a topping pattern as we speak is probably an a to b equal CD But let's just take a quick peek here Yeah, there certainly is an a to b equal CD pattern if we were to generate a bullish reversal candle That would say that would generate a sell the d-points a short of that and you got a gap to the upside out here So I don't see any kind of a topping signal at least just yet the weekly time frame you've entered bar number eight Mr. Z that says you could get a top between this week in the next two the monthly chart says I don't see any kind of a topping signal here It just looks like it's all out both so the daily weekly and monthly are all in a breakout bullish mode We say that because price is above profile resistance in each case and prices trade above greenhouse that are in change line Those are just simply breakout bullish conditions now Berkshire Hathaway in its dance steps here coming off of the October lows We haven't seen too many pullbacks out here. In fact, if we take a look at the list since January There's only been there's been two one-day pullbacks and one two-day pullback out there and even coming off of the October Low from last year There was one four-day pullback So typically pullbacks will last from two to four consecutive sessions They go beyond four that's typically telling us about a change in trend or strong momentum move to the downside I have to say usually nothing works a hundred percent out here and the perfect example on Berkshire Bathaway with six consecutive days of the downside that was back on August 22nd I would suggest we're head to the downside then you get a signal of seven consecutive moves the upside on September 14 So how do you read that? I don't know. I don't know how to read that to tell you the truth But right now we know we are in day number seven to the upside Any pullbacks or retracement as long as price continues to hold that also turn change onto this the daily time frame We're looking at that said 410 conditions will just simply remain a bullish out there So I got everything's bullish out here with regard to Berkshire Hathaway now in a very short-term time frame And what I mean by that is the 30 minute you've got a roads meant to Mindicator patting price here is still above profile Resistance so it's somewhat neutralized But because price is below that green oscillator and change line a it's lost its momentum the lost its momentum Well, maybe wants to really test the next level of support which on the 30 minute time frame is 415 81 out there So that's what I see in our view of Berkshire Hathaway. Thank you very much for the request our next request coming in from No, mr. Z as well ticker symbol here is P. G are so let's get PGR Upon our screens and see what it is doing looks like bar number seven from a daily standpoint looks like it's wave number seven Pattern was negated today. I don't see any other kind of a top Now if there were to be a bullet a various reversal can of today John there would be a roads meant to Mindicator top But you really also need to see a close below its oscillator and change line and at a daily base That's one ninety eighty four adjust that eighty four by a few If you did see a close below that then this will have lost its momentum and suggest that it's getting ready to retrace Back a little bit further on a weekly time frame wave number seven That needs a lower high to confirm that pattern so earliest would be next Friday bar number eight You could get a top that's between this week and two weeks out But we don't have that topping signal in a daily So it doesn't appear to be today as a time frame and the monthly time frame chart says it's got more room to run To the upside so I'd be paying attention to the daily and the weekly right now Really the daily knowing that we are in a potential TD nine count wave number seven kind of a top type area out there But that is not I'm not saying short this I'm not saying sell this What I'm saying is watch it because the chart patterns look pretty good And we know what to look for if something is going to change out there So if that helps out on those two symbols and as always thank you very much for your request out there We've got a request to take a look at Las Vegas sands LBS out here. So let's get to that and Hmm, I did not write down who requested that that symbol. Sorry about that whoever that was But if we take a look at Las Vegas sands, what do we know? What do we know? This negated a TD nine count top last week it did it on February the 15th. They after Valentine's Day So that's a positive and now we've just got a consolidation with inside his profile Now there's a new profile for Las Vegas and formed a couple of days ago 5323 is your support level and 5505 is the resistance area. No top that I see you Well, let me take pull this back. Maybe there's a sell the d-point pattern. I May have spoken too soon Yeah, there's a sell the d-point pattern. I mean it would look like this Let me just make sure that it it pretty much completed here. Here's your a to b I'll just simply move this over to the c-point. There we go. Yeah So this does have a so this this generated a sell the d-point pattern That's resulted in a consolidation on the daily time frame for Las Vegas sands. So as long as that I'd say as long as the low the current lows hold and what I'm referring to is a low from February 20th And that low out there was 52 62 as long as those lows hold price wants to go target 58 58 That's the weekly TD nine count breakdown resistance level. It's got to plow through 55 92 and 55 92 is the center of its monthly profile. There's sellers that are located at that area out there So here's the playbook If you can close about 55 92 You are on your way because you will have been you'll be over the top of the daily profile You will have gotten over the center of that bear structured monthly profile and the weekly then should take us up to that 58-58 ish area when I take a look at Las Vegas sands So my apology for not writing down who made that request But I do want to say thank you for doing that and let's move on to our next one and that next one is LRN and LRN is from Duncan Steve and Duncan. We take a look at LRN on it's So on the weekly time frame That's where I want to start and the reason is because that generated a roads meant to mitigate our topping pattern last week Now you could end up with a weekly hammer candle So that's kind of interesting now if you do the cool thing about a hammer candle Steve oh is that if price closed below that The saying goes the expression goes if you're long you're wrong now The cool thing about that is if you did get a clue if it is a hammer candle I don't know if it is or isn't you'll need to you know check back at the end of the at the end of the day today But if it is and price were to close below 54 81 the cool thing about that is you would know where prices headed to or should be headed to and that would be the Area of 5129 that's where the bars are located based upon that weekly profile now if if sellers are able to overrun those guys Then they take price all the way back to 43 77 That's the TD 9 count breakout area on the daily time frame What I don't have here is any kind of a bottom signal doesn't mean it hasn't bottom just means I don't have a bottom signal and what price is doing we can see we're trading above yesterday's high So no reason so it's both certainly today should continue to rally The question is what will happen as it rallies up towards 5831? 5831 happens to be the oscillator and chains on a change colors four days ago price test and rejects that that means closes back below it That says that we continue to head lower out there. So at a weekly time frame Nothing more than what we've already shared with you monthly time frame At the end of the month this could also be a rogment of indicator signal But as long as on a longer term basis monthly basis as long as price remains about 53 and change right now It's 53 30 conditions are still bullish Meaning you'd have to go to neutral both sign the price above Profile and it's green outside and change line to neutralize the overall signal. So LRN Stride ink out there likely gonna go target 5831. 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Visit the front page of tfnn.com tfnn 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 Pezzavento 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 Will the S&P 500 continue to climb for bold trades on us large cap stocks in either direction trade SPXL SPUU or SPXS Directions daily 500 bull and bear leveraged ETFs Direction leveraged ETFs an investor should carefully consider a funds investment objective risks charges and expenses before investing a funds Prospectus and summary prospectus contain this and other information about direction shares to obtain a funds prospectus and summary prospectus call 866-476-7523 or Visit Direction Investments.com a funds prospectus and 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 Folks, so let's it was I aka is the request from a Mike and Pennington So let's get back to that and thanks for responding. I see somebody else in the den I gave me that as the answer as well. So we take a look at I aka Here's what we know We know that this had a roadsman to indicator top and a TD 9 count top and the high of that pattern was 1098 yesterday's close was 1097 so if we get a close of a 110 98 today, we're trading above it that negates those signals, however There's a wave number seven signal that's been triggered. Let me open up the daily time frame chart for I aka See where that one began right there Okay, so you're gonna have that needs a lower high to confirm that top But right now it's in a bullish breakout mode out there. Your question was take profit or add, okay Not add and I'm gonna have to get an ad at a resistance area Weekly time frame here in bar number nine is going to complete it a weekly TD 9 count and On the monthly time frame chart you're in bar number eight So it looks to me like this is getting ready or getting close to a top now I don't have a signal for example on a I take that back Let me see you don't have a signal even on the 30 minute time frame chart the 30 minute time frame chart negated a TD 9 count top out there so take profit or Take profit or add so we've definitely concluded no ad The thing is I don't know what your long-term horizon was and you know on this Mike So that becomes difficult You won't get a change in trend the earliest change in trend signal You get would be too consecutive close be low one on I know to the bottom of the daily profile out there And if you got that then price would take you back to 10607 that might be the extent of it So I do hope that that information helps you make that decision though Hector and Patty wrote in they want to take a good GDX on the GDX their question is what do we need to see in the GDX to get bullish for its weekly or its monthly Time frame out there, you know, and it's a great question We take a look at the charts out here first of all on the daily time frame chart You've got a TD 9 count bottom that TD 9 count bottom has led to just simply a consolidation with inside his profile So we know we've got that there on the weekly time frame chart There is no bottom signal a bottom signal could be a test and rejection of a swing point And that swing point would be from October the 6th out there now price is still trading with inside that swing point So we don't have to worry about volume or anything along those lines What has not been tested is that low of 25 62 if that could be tested and rejected on a weekly base with less than 113 million shares Combined with the daily TD 9 count that may be the weekly chart there Hector and Patty would be confirming That move if on the other hand price were to close below And it's still possibility 25 62 would do with more than 113 million shares Well, what we'd get we would get a confirmed a to b equal cd to the downside on a monthly time frame There is no pattern out here. There's just price trading with inside his bullish structured monthly profile So what we do know here Hector and Patty is the buy zone on the monthly basis is between 23 53 and 25 54 Not that it would form a bottoming pattern there, but that's your buy zone based upon the profiles so I would say Testing at least that swing point low and rejecting it on a weekly time frame That would then add to the idea that the weekly has generated some kind of confirming message inside the gdx But then the real answer there is we need to go take a look at the top 10 holding see what they're doing Daily and weekly to really get a feel for that. So Hector and Patty, thanks for the question I hope that that provided you with the information you were looking for And I have a fantastic weekend the next request coming in from a guppy McGuppy is asking the question is natural gas still bullish So let's go take a look at the charts and see what the charts have to tell us I won't get back there momentarily. So here's the natural gas charts out there We did get that nice little rally yesterday right when we were doing a review of it as price was pulling back and making a TD 9 count bottom pattern that worked out pretty good But now today not so good now to answer your question McGuppy, right? Is it still a buy? It's still a buy from the standpoint It has still it still has a buy the d-point pattern The only way that gets negated is a close below the low of the candles that made up that pattern And that would require a close below 1.633 If price closed below 1.633 Stevie here will bail from his long trade in natural gas now The april contract that's the active contract the april contract at least as of yesterday Exclusively was make made up the UNG out there So I've got the two ETFs that you can trade on that boil and the UNG So it still does have the bottom but the question is what's going on in the short term, right? Yesterday we took a look at a short term timeframe chart. I think it was a 60 minute chart had a TD 9 count bottom We said, okay, that was the a buy. Well, shoot on a 30 minute timeframe chart You may get a confirmed rogement to indicator bottom in the next 47 so we've got 13 minutes out there How's that for quick math now what you really need to see here on the on a 30 minute basis of a guppy I would say would be a close above that red oscillator and change line That has capped any kind of counter trend moves at this stage here So wait to get a close above that on a 30 minute time frame And then if you do I don't know if your question was because you're looking to get in or or whatever it might be But this could be a bottom signal here interday with regard to natural gas As on the daily base was pulling back to test support Which was that red oscillator and change line the other element here and the reason why the guppy's asking why I'm in the trade Why subscribers are in the trade why maybe you should be in the trade Because here's the seasonal pattern with regard to this is over a 33 year time period You can see we've got bottom signals on the daily time frame out here And we are in the favorable seasonal cycle and so it's worth a shot out there May not work out, but we have all the reasoning To go ahead and take that trade. So I hope that answered your question McGuppy vick wanted to take a look at ticker symbol f w Rd so to do that I've got to get back to a different set of charts and then actually find it Like where did steve put that did he put it here? He did not Did he put it here? He did so now let's take a look at this for vick. I believe you took a long position in this I think you said yesterday maybe or today Well, what you'd love to see today is you'd love to see this candle formation maintain itself right now You've got a bullish piercing and candle all it has to do is uh finish halfway into yesterday's bar in order to retain that beer bullish piercing candle pattern Why is that important because you got a road's meant to be indicator signal And that at least could give you a bottom and price would be above that red oscillator and change line That would suggest that we should rally up towards the 44 72 level on f w rd the weekly time frame You are in a potential wave number seven bottom But we got got td9 account bottom It's going to confirm this week and it will complete next week So I like what you say I like what I see on the daily time frame I like what I see on the weekly time frame the monthly time frame looks disgusting. So let's not look at it Okay, perfect. Now if we look at a short term time frame chart This is for vic on f w rd. You got a nice road's meant to be indicator bottom as well earlier this morning This is a suggestion at least to rally up to 40 51 So I'd say if you get it closed by 40 51, you're starting to get out of the woods with f w rd And to finish this segment off here jane wanted to take a look at n video Our question was do we think this might rally further today out here? If we take a look at n video, we don't have any kind of a topping pattern on the week daily But on the weekly you're going to complete a td9 count top this week Monthly says, I don't know what top you guys are talking about glad to watch the weekly out here now on a daily time frame we had Price gaps up. I don't have a topping pattern associated I just have price pulling back and testing support and holding support and that was at 775 89 just below that at 77287 jane was another bottom pattern out there So right now this looks to me like if at 12 noon, it's 1150 right now This can close above its green answer and change like the 792 64 The answer to your question would be yes. This should rally further Steve Rhodes with tfnn would be right back 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 basil 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 and stock prices Get the opening call newsletter by basil Chapman and 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 Pezzavento 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 Are you ready to take charge of your financial future? tfnn is your gateway to the world of trading and investing Whether you're starting out or scaling up tfnn empowers traders and investors of all skill levels with top-notch investing systems strategies and techniques It's time to protect and grow your money with insight you can trust Join us live Monday through Friday during market hours for exclusive content that moves with the markets at tfnn We bring the trading floor to you our season hosts are here to answer your calls and questions live on the air Check out the tiger's den for just one dollar and follow us on youtube and become part of our vibrant community And remember at tfnn. We're so confident in the value We provide that we are for a 30 day money back guarantee on all new premium newsletter subscriptions and services You have absolutely nothing to risk So why wait tune in live to tiger tv and transform your trading journey because when you know better you invest better Join us and experience the difference today tfnn educating investors Folks, so we have seen gold take off just a little bit during the show out there With the us dollar index not really doing much the us dollar index I'll just simply expand out the chart now I do have a 10 minute delay on this chart here But you can see us dollar index really hasn't done That much today if we take like what gold is doing again. This is the daily time frame chart We can see the gold is really trading in between a couple of things one It's trading in between a rising and a falling trend line You can see that price is about to get up towards that falling trend line out there And prices trading into it's consolidating with inside its profile So you'd really need to see a close above 20 54 80 to get a potential profile change in trend signal You need two consecutive closes above that But we can see that gold is trading into a potential resistance zone for its daily time frame Now if we go take a look at the four hour time frame chart And we can try to identify where its resistance level is that We're going to see that that is at its TD nine count breakdown area So the top of that daily profile you may have written that down Maybe you didn't the top of that daily profile is 20 54 80 20 51 90 is the TD nine count breakdown resistance level It looks to me like price is going to go target that as well So it really boils down to does gold close above 20 54 80 if it does that could be hinting of a change in trend signal Otherwise, we're just simply again testing support testing resistance and and so on So that's what I see. Oh, what did I you know, we got that chart up there good We've got that 10 minute chart. Is there anything else here that I need to pay attention to? I don't think so. So let's get to our last request coming in from a guppy McGuppy wanted to take a look at amazon AMZN is the ticker symbol out there I didn't have to tell you that his question is I think it might have been Uh, what is looking for a long position and now would not be the time to do that And the reason that I say that McGuppy is because if we look at the daily time frame chart for amazon What we're going to see out here is on the trading day of february the 12th That generated roads meant to mitigate our top now price of trading into that swing point That swing point did volume of 51 million shares you closed into a yesterday with 55 million shares That said that at least the top should have been tested and that top was 175 39 the high so far today 175 75 volume today is 20 million shares. That's 20 going into 51 So it's going to be close with regard to the volume You need to see a close above that high that high being 175 39 in order for this to get its daily mojo back Folks, thanks much for being here all week long and certainly on fantastic friday. Have a fabulous weekend I'll look forward to seeing you on magnificent monday. Be safe out there. Take care