 The following is a presentation of TFNN The Traders Edge with Steve Rhodes At 1-877-927-6648 or internationally at 727-873-7618 The Traders Edge Now Steve Rhodes Good morning folks. Welcome to the July 14th. 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's having a great day Let's make sure we have an extraordinary one now the easiest way to do that is 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 going to toss out Is now today you and I we're going to 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 do 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 and dial on it at 877-927-6648 Now if you've got a question, but you can't dial in send me an email Send that early send that off to steve at tfnn.com and inside the subject hitting Please put radio show question. Of course, if you're inside our tiger's dead Well, then any and every ping will do So let's go ahead and get this show started on fantastic friday. Of course, this is tiger financial news network I'm steve roads. Welcome to the show right now We've got that mixed bag out there the mix goes like this a dow's up 92 the s&p's up five the nasdaq 186 the semis are up six to the downside It's the rustle off 24 points the trainees down 86 you got gold Basically flat trade in 1962 will silver up 23 pennies. That's about a 1% move for silver 25 18 as the print lights we crude is back nearly 2% 75 52 as the print their natural gas It's off a penny and a 30-year treasury printed out at 126 24 that is down eight ticks now leading the charge Dollar wise the upside you've got united health group up 30 bucks That's a 6% move elephant self up 20 bucks 5% move Entech holdings up 46 percent 20 point move as mill holdings 2 percent move for 16 bucks Eli lily of 15 bucks 3 and a half percent to the downside Pool corporation down 18 bucks nearly 5 percent united rentals 3 percent or 15 bucks mercata lee bay 1 percent 13 bucks black rock 11 bucks nearly 2 percent shaved medical 12 bucks a little over 4 percent to the downside there But we maybe You guys are there may be Looking at giving I'm okay. I'm not sure what you're Native I'll just keep going here Um, I don't know if there's a problem in production or not. So let's uh, where do we want to begin? Tell you where we should begin. Let's do it like we have been here Which is take a look at market breath get a feel for where we're at market breath for the five different timeframes that we track So let's pull that over. Let's look at the 30 minute time frame first This will be for the s and p 500 the es mini and we can see that we're basically Neutral here. You got 136 above 135 below. So we've got a neutral signal for the s and p 500 And in the case of the nq, we have a bullish signal 34 above 19 below I'll pull up the uh, the other timeframes what I can just share with you right now. They're all bullish 62 40 That's uh, that's uh for the uh Sectors in the s and p 500 appears your s and p 500. That's bullish across the board Same thing with the uh, nasdaq. So the only issue was a break even a break even a kind of a tie with regard to up and down or above and below profile levels For the 30 minute time frame. So we know that market conditions right now from a profile standpoint are bullish Now, let's go take a look at what's going on from an interday standpoint Let's start by take a look at the es mini the es min out of daily base What do we know about it price above profile above a greenhouse that are in change line those conditions are bullish If we were to get a bearish reversal candle, we don't have any signal that we'll get that We'll see as we move through these charts here if we were to get a bearish reversal signal. What the heck happened there? Wow, that's weird Uh, that if we were to get a bearish reversal candle Then we would generate or it would generate a roachment to midi cater top in the case of the five hour time frame chart It does have a td9 count top out there, but price has been moving sideways It's really gotten no traction and a close above. I don't think it closed above Let me just make sure 45 51 50 this close was 45 51 50 It didn't qualify It's got a close above it a close above that 45 51 50 and it gates that signal Tells us about a strong move to the upside But right now it's held the four hour time frame chart td9 count is in the process of completing right now At 2 p.m. At 2 p.m. At 2 p.m Price must close above in order for this td9 count to take hold price must close above 45 38 On a two-hour time frame chart We're getting a signal here of a rogement to midi cater top this candle closes at 12 noon So we should have a pretty decent feel for it about 40 minutes from now The 60 minute time frame chart already has a rogement to midi cater top as does the 30 as does the 15 10-minute chart. I don't know what it's doing out here. Let me uh try just Reloading my 10-minute template out here and see if that just solves whatever went on. Yeah, there we go And that also has a rogement to midi cater top. So now now that on the short term basis We're trying to evaluate if there is going to be a top that forms Stevie suspects that there is a top that's going to form by next week Could form tonight could form today If a top is going to form we're going to see key levels of support on the interday time periods fail Now we're getting pretty granular here But when we take a look at a 10 minute and a 15 minute and even a 30 minute Let's take a look at those values first value is 45 40 That's both on the 15 and the 10 minute price is not busted through that So we don't have any kind of signal that there's any potential change of trend just yet The 30 minute level would be 45 28 75 and level number two would be 45 17 75 on the 60 minute chart It's at 45 25 And we're at 48.09 on the two hour time frame chart. That's as far as we'll go with regard to the details out there So we don't have any kind of topping signal or bar number three on a daily td9 count pattern But there is that rogement to midi cater signal I would say if we do get a rogement to midi cater top Odds favor that we may then see that top that lasts through october So at least something that you and I or we should at least consider now. That's the es mini Let's go see what the nq is doing out here. Let's pull up these charts It's going to take just a few moments here to populate I'm not sure but it's because of some of the things that i've got run in the background And there's just simply no way for me to change that as we speak I see so i'm having trouble I'm having trouble. There we go. What's happening? Um, do you guys hear me in the den? I don't know if there's an issue or not I hate to be talking to thin air out here, but uh, maybe thin air is all that's going to listen to me But i'm going to keep going so with regard to the nq you can see basically similar patterns to the es mini And that is how perfect makes mr. Bill prices moving higher Do we let doing a less relative energy? That's why we've got that roads meant to midi cater signal triggered But prices above that green oscillator and change line conditions are just simply all out bullish For the nq we took a look at market breadth. They're all out bullish now on a TD nine count pattern for the five hour chart Uh, there's none that exists the four hour chart will complete its TD nine count pattern at 2 p.m So watch that high whatever that is if there's a close above that that pattern gets negated no top on the two hour No top on the one hour You got a 30 minute top that says watch profile levels shoot it's so far above Support right now, but 15 717 would be the first area to be looking at and I don't see anything really on a 15 Or 10 in the basis boy this market's not going to top without the nq doing so Steve rose with gf and and Currencies commodities and bond markets are as important as ever right now with how they're driving the volatility in equity markets across the globe Which is why it's a great time to try out teddy keg stats tiger 4x report Teddy keg stat breaks down the 4x markets every monday using his 30 plus years of experience as a trading veteran of futures 4x stocks and options Teddy releases his weekly tiger 4x report every monday morning with coverage of all the major currency pairs Including the dollar index the euro dollar pound dollar dollar swiss dollar yen as well as many more And he also has weekly coverage of the crude oil market and the 30 year t bonds as they both influence 4x markets tremendously When you sign up for the tiger 4x report you also gain instant access to teddy 60 minute webinar archive He just hosted 4x strategies and fundamentals What is behind the tiger 4x report for all the details and to start your 30 day tiger 4x report subscription today Visit the front page of tfnn.com 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 and stock prices get the opening call newsletter by basal 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 Steve rhodes started his trading career as a student almost 20 years ago and the student has now become the master Steve won the prestigious timer of the year award in 2018 and barely missed that mark again in 2019 Finishing it number two for the year an amazing accomplishment Steve rhodes is committed to sharing his techniques and knowledge with anyone who wants to learn And he shares his vast amount of trading knowledge every day in his mastering probability newsletter Steve's award-winning newsletter Mastering probability is delivered every trading day with updates throughout the afternoon Sign up for steve's market newsletter Mastering probability and you'll receive access to seven of steve's educational webinars Absolutely free at tfnn. All our newsletters come with a 30 day money back guarantee So you have absolutely nothing to worry about visit tfnn.com and try mastering probability 30 days risk free today tfnn educating investors toll free at 1 877 927 6 6 4 8 Welcome back folks. Looks like quite the semi final match here Um with uh joe kivits in center playing looks like they're going into yeah, oh, they're playing a tie break right now for Thursday at any event Let's get to some requests that have come in the first request coming in from alton once take a look at slumber jay so alton's Email reads like this. Good morning, steve. If you have time, can you please review for us slumber jay? I'm in it. It's had a good run the last few days with good volume You notice in your basic charts a td9 count A td13 count What do you think and we're a support resistance? Thanks. Have a great weekend Okay, so first regard with regard to your question about support and resistance There's a new daily profile that formed today The top of that pox which is resistance is 57 62 the bottom It's a slightly bullish structured profile alton. So your bull zone your buy zone is between 54 83 and 55 76 on a daily basis We see an a to b equal cd to the upside no bearish reversal candle So this is still bullish just consolidated with inside its daily profile on a weekly time frame a close today about 56 21 Will be a close inside a swing point with volume The swing point had volume of 54 million shares You're at 67 million shares as we speak right now When you close inside a swing point if it does close about 56 21 today alton when you close inside a swing point with volume Odd's favorite you're going to at least go test the high Perhaps take it out. So that says what we should see out here You got 57 62 to still deal with but you also that if you can get above that That tells us about a run up to 59 45 So the weekly chart is telling you its intentions are to test the top of that swing point The monthly chart has a confirmed a to b equal cd to the upside The b point was the month or the b point that i'm using is the month of june of 2022 344 million shares were traded when that was taken out that was taken out with 354 million shares So there's a one-to-one a to b equal cd in slumber jay that should take price up to 68 61 But prices dealing with right now are the sellers that reside at 56 85. Those are the monthly sellers that are out there So You're stalling that makes sense to steve and when we take a look at it But it looks to me like slumber jay at least at this point in time is telling us that it wants higher price Now let's go look at those white background charts. What are we going to see on the white background charts? I don't know. Let's go find out. So here we take a look at the daily Daily chart out there alton made reference of the td9 count on the daily time frame that form were completed on july 10th The very next session prays close above that high that tells us about a strong upward momentum move A strong word strong word a strong upward momentum move that is in place and is going on right now Yes, I understand you've gotten to bar number 13 out there, but that doesn't mean that that's a top so alton, um, maybe um That that does not mean that it's a td sequential So right now so no no we do not have that kind of signal out here slumber jay looks to me like it wants to continue to Fire, but it's just simply dealing with that resistance level the top of the a monthly profile 56 85 if price were to close below 54 83 the bottom of its new profile Maybe but really price could just be testing that green oscillator and change another new profile is not showing up on this system Right here, but it is new profile that you can rely on so alton. I helped that. I hope that that helps you out Uh with regard to number of days. Let's do this here. Let's let's further help out now Number days the upside five consecutive days the upside it doesn't do more than seven typically It's not unusual to see a pullback take place here. What you should expect is a two day pullback So today is probably just bar number one and I expect you would get a further pullback come Monday no guarantee But that would be the likely outcome there and then it resumes. It's moved to the upside Our last thing we can do for alton is take a look at the seasonal pattern if we can find one for slb So let's go see what this is doing s Slb see if this pops up. I hope that it does there we go So in the case of slumberj, we have a total amount of 41 years worth of data and here on that seasonal pattern This says we're still in the favorable seasonal cycle Which doesn't typically end until about the end of next week out there july 24th So it does look like to me slumberj wants to continue to move higher alton I hope that that helps you out and thanks much for taking the time to write in Dan inside the tigers den wants to take a look at tick symbol rx Is it rx rx rx rx that is a symbol now Let me get you okay. I'm on the white background charts rx rx So if we take a look at it dan you've got the a to b equal cd to the upside that's clear out here And so the b point had volume there of what 2.5 million shares that was passed with 80 million shares out there, but nonetheless It looks to me like you're getting a sell the d-point pattern potential sell the d-point pattern today Currently shows up as a dark cloud cover candle prices trading out of 1204 It needs to close somewhere halfway in between the body of yesterday's candle if it closes below that halfway point That would be a dark cloud cover candle that would then confirm a sell the d-point pattern You can see it had a td9 count bottom. Here's a to b Or I'll get it somewhat approximately. I'm just going to pull this over to the c-point What should be about What is doing like that for right now and so you can see it made more than the one to one But a various reversal candle should that form would tell you about a short-term top and price here Wanting to pull back to test that oscillator and change line which would be about 9 36 on a weekly time frame rx rx What do you have out here? Here you have a a to b equal cd as well Now that b-point had 13 million shares obviously you're at 115 right now No reversal signal here just yet, but the daily is one to be paying attention to the monthly prices trading above 1067 That's the top of its profile. It has a road's momentum indicator bottom. Everything looks good on rx rx dano It's just that daily time frame chart that might be signaling to us a move lower A just simply a test of that green oscillator and change line However, lastly, let's take a look at a 30 minute time frame chart out here Well, we don't have here at a 30 minute time frame chart as any signal of that pullback starting now Why is that? Well, I've seen the most recent profile the one that just formed here is above the prior profile That's a bullish outcome. You need to at least see a close ball 1173 to suggest that maybe that pullback has begun So I hope that helps y'all with regard to rx rx your second request was to take a look at I In mb out here. So let's go take a look at i in mb. That is a trading out at 1060 i and mb. What do we see with regard to patterns? We see a road's momentum indicator top We see a td9 count top And what we also see is price pulled back did it what it was supposed to do test and now reject its green Oscillar and change line dan the overall signal that I would have to give this is neutral Neutral simply because you still have a top that has not been taken out But neutral because now support has been tested and that has held prices I got a uh a new profile out here that formed yesterday So your resistance level one resistance level is 10 99 the second resistance level You can see on the weekly time frame is that td9 count breakdown area. So that's been tested this week at 10 58 So that has been rejected the bottom of the daily profile 11 34 on the monthly chart so far has been rejected So neutral is what I've got to say here neutral Just because the td9 count resistance level on the weekly was rejected doesn't mean that's a top and just because Prices struggling at the bottom of the monthly profile does not mean that it is a top either But we do know that price is struggling at those resistance areas out here So overall dan I've got to give this a neutral signal We try to see does uh real quickly here while we're going to break. Let me see if I have a seasonal chart I am B And the answer is we do not But that's okay. I think our view of the chart was uh sufficient So we get back from this break here We're going to take like a lightspeed crew for john the york stock exchange advanced client oscillator for peter And the golf guy wants to take a good shorting the nasdaq 100 gold report 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 xa u 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 tfnn.com 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 catch or added costs when you join our community of traders in the tiger's den You can look over the shoulders of tom o'brien 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 tigers as they share trading ideas news analysis and discuss the market action all trading day Even at night and on the weekends the tigers 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 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 in 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 Educating investors Don't forget you can listen to tfnn live on your mobile device 24 hours per day Go to tfnn.com and hit watch tiger tv That's tfnn.com and hit watch tiger tv Looking back folks still a mixed bag out there the dow up 108 s and p's up eight nasdaq 102 rustles off 22 Trendy's down to 84 out there. We're taking a look at lightspeed crew. This is for john c Inside the tiger's den and we have switched so we have rolled over into the september contract So what do we know about lightspeed crudel first from monthly time frame a price is just simply consolidating with inside His profile. It's really consolidating between the bottom of its profile and his green oscillator and changelon That's between 69 61 and 82 77 the weekly chart shows the larger consolidation pattern Price is trading with inside its profile. It's at the center of that profile right now Which is up to the 76 10 area close above 76 10 should take us to 8109 the top of the profile The daily time frame negated a td9 count top yesterday The pullback so far today is nothing more than a pullback of support and support is the top of the profile at 75 47 There were two consecutive closes above that oftentimes old resistance becomes new support We should know that by day's end, but as long as the top of that profile At 75 47 holds then that becomes support out there So the pullback no big deal so far. We take a look at the daily time frame now on a shorter term time frame The 30 minute chart let's expand this chart out. See what we see out here I don't see much of anything other than I see breakout level at 74 32. We are trading below profile You do have a buy the deep point pattern here that was formed at that 1130 session with that bullish piercing candle So price should target 76 14 or thereabouts That's the 30 minute time frame chart as we take a look at a 60 minute time frame chart price right now sitting at support Support being 75 38 the bottom of its profile the 120 minute chart Sitting at support the bottom of its profile the 240 price sitting at its breakout level 75 23 So I would say at this stage here In order for lights we could to suggest that it wants to pull back to test the 72 97 level You need really two things the first thing that you're going to need is at least a close back inside This profile sets a close below 74 75 47, but I'd also say you really need to see it close below 74 96 and 74 96 is the bottom of that five hour time frame chart out there I would say if that level fails then we're likely headed back to the 72 90-ish type area out there So that's what I see john when I take a look at lights we crew and I hope that that helps you out Well, you know one thing else that one other thing that we could do one thing else that we can do Another thing that we can do out here just out of curiosity Um, what is light sweet cruise light sweet light sweet cruise Seasonal pattern. So let's see how many years worth of data. We have 32 years worth of data out here boy Lights we crewed looks like it's about ready to seasonally speaking. That is enter a consolidating period looks like it's supposed to top Right around now out there, but that's that's over the last 30 years How about the last decade the last 10 years out here the last decade says we should be headed lower at this stage here So john, I hope that helps you out. I would rely upon the profile readings the numbers that we took a look at As opposed to that seasonal chart out there So thanks much for taking the time to write in peter wants to take a look at the new york stock exchange It's advanced client oscillator. So we're going to do that that has achieved Oversold status. So another reason why the market should begin to sell off a bit to work that off So let's get over take a look at that pattern here. Here's the new york stock exchange. That's in the upper panel The panel number two is the advanced decline Line the interesting thing here about the advanced decline line as it is broken through a descending trend line Something to think about But if we take a look at the advanced client oscillator, which uses the advanced decline data It just simply takes a look at the difference between the 39 and 19 period Exponential moving average of that daily data because we're looking at daily chart And now what we can see here is yesterday the day before price closed above plus 150 When you close above plus 150 it generally speaking it tells us about Higher price that we will see in the future doesn't talk about tomorrow It doesn't talk about the next day. It talks about maybe in the coming weeks or months out there So that is a bullish signal It also tells us that price has gotten to an overbought condition and overbought condition needs to work its way off Well, that's what's going on as we speak right now. If we take a look at the new york stock exchange Let me further. Let me see here. How can I do this? I know I can do it. I just have to figure out how to do it. So Now that's not it Need your reaction daily weekly monthly, let me try this here And I'm gonna know momentarily. Yeah, that is okay. So to pull up the new york stock exchange We just want to take a look at consecutive days higher consecutive days lower out here So if you would just give me a moment to um right now, it's popular with the gold contract I need to let that take place and I'll put the new york stock exchange in here And then we'll come back and we'll take a look at it. Go ahead populate it. Would you populate it Come on. Here's Louise. Maybe I've got too much data in there. And why That didn't work And why sorry about the delay here. Okay, so we got that now it's going to populate that so what else can I see here? now we do have the So anyways, it's working off its overbought condition. That's really that's the message there's two messages That message and the fact that we should still expect to anticipate higher price That's what they're getting above that plus 150 reading means now. Let's go take a look at the new york stock exchange charts We'll take a look at daily weekly and monthly. We're looking for the we're looking at the consecutive closes higher And lower out here. So we're going to really take a look at the daily type frame and on a daily basis out here yesterday was bar number five of consecutive Daily moves higher we do oops not showing hold on go live Okay, so now we're live out there. So now you should be able to see this chart And we've seen some seven consecutive day moves a six consecutive day moves But it's typically three to four bars out there and then we see typically a two bar pullback So the new york stock exchange it has to work off that overbought condition Peter I would expect in the anticipate that what we see here is a two at least a two Bar pullback out there. So I hope that that helps you out And uh, let's go to our call. Let's go to dave and frammingham dave. Thanks for calling. Thanks for holding. How are you today? Do we have dave? Do we have dave? Yeah, I'm right here. Ah, perfect dave. Sorry. I couldn't hear you there. How are you today? I'm fine. How are you? Excellent. Thanks much for asking So the mining etf the gdx is what you're calling about dave. What can I do? How can I best help you? Yeah, could you tell me an entry point here for that? Sure. Sure. Well, I'll do my best to tell you an entry point. So we've we've had the gdx that formed a nice little Rosemont indicator bottom It's got an a to b equal cd pattern that's underway here and as far as where could price pull back to so I believe this is This is the fifth. Yes, it was day number five of consecutive closes hired today could be bar number six of that I'll just back. I'll pull over this chart here first. So I want to take to take a look at that We just reviewed this in essence with the lat the new york stock exchange So it's going to be bar number six, which is pretty unusual. We did have a five bar move out here back on march The third this says that we should expect to anticipate a retracement So the first level that I would give you dave is a two bar pullback I don't know what that price would be But if you do get a two bar pullback, you might want to consider at least beginning a position inside the gdx If this is a very bullish market, which I expect to anticipate that it is all we should really see is a two or three Day consecutive pullback here. So that's at a price level and it's not It's not in force yet today But that's the first thing that I'll be waiting for and we shouldn't see the market We should see the gdx begin to pull back. Do me a favorite day Hold on through this break We'll take a look at the other charts for the gdx and I'll answer any other questions that you have as well Steve roge with tfnn will 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 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 and 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 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 lary 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. 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This is with dave in frammingham, massachusetts So the first area dave is asking for an entry area into the gdx So the first one we covered before we went to break was the potential of a two-day Two-day consecutive pullback and that might be the entry area If I were to try to give you a price projection right now There would be two And i'm looking at the daily time frame chart prices closed above the top of its bear structured or its daily profile It's been above it for now three sessions So old resistance could become new support. So a price area would be 31 30 That would be the first price area now if we get a two-day pullback And price hasn't gotten down to 31 30. Do you take that trade? The easy way to answer that question would be to look at some type of interday chart and look for some type of pattern there That would confirm that it could be as simple as a pattern of seeing Higher lows and higher highs perhaps dave I don't know if you you know what if you're a technical trader or not Steve do you see the 30 50 getting filled at all the gap there like Back in the round match there It's filled the gap. I'm wondering if there's still a gap there at 30 50 So, uh, I guess I I would it's always the potential Yeah, do I see it do I see it right now? I wouldn't that's not what I would be hoping for That's not what I see right now now The reason I say that Is is because we've now cleared the profile and really opened up the daily time frame chart for the gdx Let's look at this together So what we've got here is what do we have here? We've got really a nice solid bottom on the daily time frame and we've got an a to b equal cd pattern So at this stage here, it looks to me like this could be a very significant bottom And I'm going based upon that really based upon taking a look at gold itself and gold has had a two month pullback And if this is a significant bottom Then then then that was it then the low that we saw in june Or maybe was the first of july or what have you that that's a low that we won't see for quite some time to come But it's not a guarantee as you know Right And so the the one thing that where the gdx is struggling right now Dave is at the bottom of its weekly profile And in order for so to to give a definitive answer I would say that price will not come back to fill that gap I would need to see the gdx close above 33 25 and 33 25 is the center of its bowler structured profile If this is only a counter trend move then where price would find resistance is either at the bottom the profile 32 29 Or the center at 33 25, but at price close above 33 25 That tells me that we have a definite change in trend here And not just should price get up to 35 15, but we probably have seen a significant bottom inside the mining equities We're talking about a significant bottom But to answer your question get a pullback there. Yes to answer your question Where's that entry point price wise? I'd use 31 30 day wise I'd use a two consecutive hour pullback and move anything else that I can find on my charts right now Does is any questions about that information? No, that's good. Okay I was just kind of curious here because I kept kept on looking at that gap if it's going to get filled gaps get filled at some time, you know Yeah, so like you're saying it may not fall back Yeah, and gaps can eventually get filled. It doesn't necessarily mean that they have to right, you know, the other thing that I would do And and I I don't have the time to do this right now But to the extent that you can pull up a chart and you can look to see if there's other gaps that have gone unfilled in there That might also help You answer that question in your mind. I don't know what the gdx. I was looking at the march 13th gap Right and I get that get filled March 13th, so let's uh, let's come back to march 13th. Um It went up for three days after yeah Gapped up and then it's pulled back for one day like you're saying it may pull back. Maybe monday Yeah, it didn't back up that that gap did not get filled You know and I guess I haven't done this study to go back to take a look at but but one thing with that That phrasey ology of gaps get filled You know on each individual stock chart go back you can see the gaps or you should be able to see the gaps Fairly easily and and see if in fact that's the case for that stock chart because each you know the gdx Is is so influenced by what's happening in gold or gold and silver out there that you know There may be open gaps. So things look pretty bullish out there and uh, uh, yeah, you should want to enter into the gdx At least at this stage of the game Okay, thank you very much. Thank you. You bet. You bet. Nice to hear from you. That was davin frammingham Uh, so the golf guy had asked about shorting the nq out here I'll get to his messages or his message But let me first get really to the nq charts and let's take a look at this version here But let's take a look at the question it says Can you check the sqq or more so the nasdaq if you're charting Shows a nasdaq pause Might the sqq be the one to look at so the nasdaq pause would go like this We're take a look at the nq and we're looking at a weekly time frame chart And as we take a look at the weekly time frame chart, we see two different things You see the a to b equal cd pattern that is in play out here And what you also see is this week is going to become bar number nine of a td nine count pattern So earlier in the show I said I suspect that we're going to see some type of Top in the market and it could be that july top that leads to a low in october So I don't want to discount that but that says that that top Should take place this week or next week. Okay, so we're on a weekly chart a golf guy or uh We're on a weekly chart that has a potential of a td nine count Now it's going to form the td nine count top The question is is that taking place that topping pattern taking place this week or next week Well, the cool thing about being on a weekly chart is we can now go to the daily chart We can step down one time frame and see what signals we have out here Well, what signals do we have we have price moving higher doing less relative energy And we know if a various reversal candle forms that will then confirm a roads meant to make a top We don't know whether price will break through support But we do know then that we would have a weekly and a daily top and then golf guy I would say that would be the time to go ahead and take that position Earlier we were take a look at the nq and I was looking at shorter term time frames 10 and 15 minute Charts and I was providing maybe you got that information a level that price would at least have to close below In order to suggest that maybe that top is starting right now Here when I take a look at these So watch the five-hour chart on the end. Well, no watch the Four-hour chart on the nq at 2 p.m It will complete a td9 count pattern out there Does that td9 count in the next two in the two hours that proceed that does that take out any levels of support What was the level of support that we were looking at that was key? I want to see if I have those charts back up on our screen still We do and I believe that the number that I provided was 15 Now I think it was for the es many that we did that it was the es many that we did that for Clearly was the es many where does price need to bust through To suggest that maybe that top that we just took a look at is getting ready to start I'd have to say 15 690 25 even though it comes from that 15 minute time frame And that would be a pretty good first place to start out there golf guy So hope that helps you out with regard to the nqs out there I don't see right now is being the time to go ahead and take that short Yvonne writes in she wants to take a look at a snowflake out there sn o w is the ticker symbol So let's see what is the question out here love your show Please analyze snow and baba have a great day when I take a look at snowflake It's trading above the top of its profile It's trading above its green oscillator and chains on it's trading into a swing point that has volume of 6.5 million shares It's doing it so far with 2.5. That's pretty decent volume looks to me like snowflake wants to go tackle that swing high That's up at that 193 94 level and if we close above 182 92 at least as of 11 50 That is the message. We come back from this break. We'll finish looking at snowflake Be right back If you're looking for potential trading setups in the stock market then rocket equities and options report is a newsletter You should try tamio brian delivers options and equity trades when the markets present them using a combination of fundamentals and Technicles sign up for rocket equities and options report today with a 30-day money back guarantee So you have nothing to risk for all the details and to start your subscription today visit the front page of tfnn.com 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? 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So we'll take a look at snowflake out here Daily has told us it wants to go tackle the highs price of pushing Into that swing point with volume the weekly chart just shows us a consolidation With inside its bowler structured profile and that's between 160 344 and 188 86 you close above 188 86 Price should make its way up to 206 74. That's the bottom of its monthly profile That's what I see when I take a look at snowflake right now. Let's look at your second request Which was alibaba. We take a look at alibaba. It's got a b point out here that was passed that was from uh June 16th 25 million shares there that was passed yesterday with 24 million shares the day before 24 million shares as well. So alibaba may in fact be setting up an a to b equal cd to the upside the weekly chart The swing point had 101 million shares. You're passing it with 105 So on a weekly basis alibaba is generated a small a to b equal cd to the upside So that's really confirming what in essence we were looking at on the daily time frame So a to b will move this line over here to the c point that should take us up Basically to its td9 count breakdown area and that is in the 100.91 level. I think that is hold on Yeah, 100.91 looks to be the price target or approximate price target for alibaba So hope that helps you out yvonne. There was a request to take a look at What was that a aspn? That's for dan inside the tiger's den And aspn is right now has a td9 a daily td9 count top dan And what that says is that price should pull back to test that oscillator and change line We're printed 847 849 the price should pull back and test 832 if price closed below 832 That doesn't mean it's a major top It just means the price will test the next level of support and that would be an 814 if price closed below 814 Well, then we're back to the 774 733 ish range out there on a weekly basis You've got a daily td9 count top the weekly hitting the top of its profile level So not to be So makes makes all the sense in the world right get up to a resistance level on a larger time frame You should see topping signals on a shorter time frame That's what we've got but right now conditions are neutral on the daily time frame because price is above The green oscillator and change line and the top of its daily profile Thanks so much for all the requests out there all week long much appreciated I want everybody to have a fabulous a fantastic weekend. I know I'm going to you should too And I'll see you back here on marvelous Monday. Take care folks. Be safe