 is a presentation of T F N N. Traders edge with Steve Rhodes toll free at 1 877-927-6648 or internationally at 727-873-7618. Traders edge now Steve Rhodes. It is December 6th. Thanks so much for joining me. I'm your host, Stevie Perseverance Rhodes, who absolutely knows that each of us should always be pioneers of our future versus prisoners of our past. Hope everyone out there is having a great day. Let's make sure we have an extraordinary day, an extraordinary weekend, an extraordinary life and the easiest way to do that. Well, first it's to make sure you're not a prisoner of your past. But then it's also to realize that you're not a prisoner of your past. Not to us. That's right. When you when you and I can recognize that 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 figure out with 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 them absolutely well. So feel free to pick up that phone. You can dial it in at 8779 276648 if you can't dial in. You can always send me an email Steve at tfnn.com inside the subject heading. Please put radio show question. Of course, our tiger is done. Well, any 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 Rhodes. Welcome to less show. So all right, let's go ahead and get this show started on fantastic Friday. It's pretty much big time, so to speak. New York Stock Exchange is the weakest end to see only up 1%. That would be 126 points out there, but it's moving higher with less relative energy. Hmm something to think about. You've got the spot volatility trading below its 50 day exponential moving average, giving the leverage liquidity leverage back to the bulls that straight out of 1348 to 1666 still hasn't broken through a key level of support. So just consolidating in between support resistance will take a look at that Silver's moving lower, less relative weakness out there on its daily time frame. It saw 43 cents trade out at 1653 lights recruit is tested the key level of resistance that we've been taking a look at for a couple of weeks out there. Can it take that out? I don't know, but we'll go take a look at that area. It is in wave number seven. It's going to turn. It's going to turn here soon. Not necessarily get 110. It's 109 right now, but maybe over the next couple of days and if it breaks through that resistance, well, then it's telling you of a change in trend, and that's where we're going to lead into our first question that came in from Robert B. Would you simply go right from lights? We'd crew to his question. His question was or is me. See this here came in a bit earlier. Would you take a look at the daily or weekly time frame? I don't really have a position. However, I'm interested in going long when the time is right. So if we take a look at XOP first, let's put up our three excuse me time frame charts out here daily, weekly, monthly, just get a feel for where price is trading relationship to support resistance of its TAS market profiles. And right now it's trying to. It's a brand new profile that formed yesterday on a daily base would say something to think about. Maybe price might move higher, higher where well the top of the weekly profile is at 24 43. So that would become the next target. But before it gets to 24 43 out there with regard to the XOP boy, we really need to make sure that this thing has bottomed. Why? Why would Stevo say that? Well, folks, if you take a look, you know, here you've got markets at all time highs or close to all time highs. The XOP that's the S&P oil and gas exploration and production ETF out there. It made its high. Well, actually it's high was made us all time high was back here in June of 2014. It did make a lower high earlier back in 2008. But really where I'm going with the lows is the lows. Well, they're really not the 2008 lows anymore than the 2019 lows. But if we do take a look at that swing point from November of 2018 at the 2290 level and price did make its way back in 2016, January of 2016, that's where it found support. It is below that level right now, Robert. So it's a well, let's go take a look at the other charts out here. But that's not a beautiful story out there. The other problem that I believe it is the monthly chart, Robert, that's going to give you and I the signal that a bottom may have formed. This is going to be or should be or could be. It's too early in the month to really say that. But this may be, that's what we're going to do with it. May and be be a bar eight of a TD set up nine count pattern out there. Price is also moving lower doing with less relative energy. So if this month we could see some type of bullish reversal candle out there, well that could be a signal of a longer term bottom. But the real key here is going to be a close above Stevie's red line. Stevie's red line is priced at 2308. That is on the monthly time frame and Robert, that is where price needs to clear whether you get in the trade now or if you get in the trade for a few points. You know, it's about 10% give or take. Not bad if you can catch it. But so let's go back and look at the other charts. You had mentioned weekly time frame chart. I believe the weekly time frame chart has been trying to form a bottom or did form a bottom a while back. Let's go take a look at it, see what's going on here. Price was moving lower doing less relative energy back into August 30th. Now price is trading above that low and we did get a bullsash candle this week just depending on where the XOP closes. So that's trying to really confirm that roads momentum indicator signal on the weekly time frame. So the weekly is saying if you're looking for a signal on a weekly, you sort of have it, but you must know you've got this resistance 2443 2290 perhaps in the week, the daily chart out there. You did mention the daily. I should show the daily for you and on the daily time frame. Well nothing out here that's going to give us a clue of a bottom coming from the daily. Just simply price right now is dealing with a resistance level. If it doesn't clear that resistance level fact right now, it must have been some sellers in the XOP because price is right back below the top of that profile 2111. That is where the sellers are. So if you're going to buy this and price close below that, well then try the 2017 area. That's where buyers reside. That's the bottom of that daily chart out there. So Robert, I hope that helps y'all. Thanks so much for writing in. That bleeds us or leads us right into LightSuite crude. I had mentioned this earlier as we were doing the opening subscribers that we were in a long position in LightSuite crude. We ended up taking our profits using a stop that took us out of the trade. It was on this big bar here, this downranging bar back on what was the day out there. No big deal. It was a big flush to the downside and what it did was it took some time to get the profits. But not all of them. We made some money out there was on November 29th. Our target was always 5960. In 5960 was the TD set up nine count resistance level where price had broken down. You can see it made that bottom with that TD nine count back on October 3rd. So that was the bottom utilizing that pattern. And now the key is can price close above 5960. You will see letter G above today's session that could extend to the top of the chart. So that's the top of the chart. We've seen part of Basil Chapman's wave program, but it's not the it's not the Chapman wave in its entirety for that. You've got to use a whole you got it first to sign up for Basil's workshops, even though he just recently did one you can always catch the archive. I'm sure of that if you were to sign up. But in any event up here, you're in wave number seven can be a top of the chart. 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 25% of your trading opportunities. So if you're not currently using the Taz profile scanner when looking at setting up your trading opportunities, then your arsenal is short. 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Many of our new Tiger Real Estate is a lively community where professional traders and investors can meet exchange ideas and information in a comfortable moderated atmosphere here all the TFN shows plus see all the charts as they happen live and have access to archives of all of those charts you can test drive the Tigers then absolutely free for 30 days and greatly enrich your knowledge of these markets and how to make your money work for you details on the Tigers then on the front of our brand new website you can still visit us at the same TFN .com URL but when you do you'll see a new and improved homepage with a much simpler navigation 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 TFN .com now and experience all the upgrades TFN .com educating investors call now toll free at 1-877-927-6648 internationally at 727-873-7618 350 S&P 33 Andy X-193 points out there we'll go ahead and take a look obviously at the equity markets but let's go to our request line out here and our request line was to take a look at gold, silver and copper so what are we going to start with so what do we know about silver first it's getting crushed today but let's take a look at where prices trading in relationship to its profiles and here we'll just simply well it's below the daily profile that was 1691 out there okay it breaks one key level of support where's the next level of support we'll just take a look at our Tas market profiles they can help us to identify support and what you will see here is on a weekly basis the level of support to say now I'm using last week I believe it was last week we rolled out of the December contract into the March contract for silver during rollover period where I've got lack of data so to speak out here better to use my Etchestech version of the silver contract different than the continuous contract this way you and I have market profiles that we can use that we can rely upon in this case here this is a bullish structured weekly profile in the bottom of that is 1658 the low so far has been 1658 how does that work folks remember at the bottom of the profile is where buyers are at at the center of the profile is where both buyers and sellers are which is simply going to call the 50-50 and when the buyers this case here at the 50-50 level the center of the box are closer to the bottom of the box that's very important because then you have a large group of buyers that are down there and because it's bullish in structure if we are to see a close below 1658 out there that would spell curtains I'm not sure what kind of curtains but the kind of curtains that move prices to the downside now move it to where well if we take a look at the weekly timeframe chart out here again I have been cautioning folks for a while now about being careful about gold about silver about the equities that are in there because of the significant topping patterns that are present if we take a look at the weekly timeframe chart for gold we're going to see silver I should say we're going to see that back in November of 2018 this bottom with the roads momentum indicator signal that actually occurred on December the 7th out there when we saw that bullish reversal candle and in essence and then price moved up in a top back in February of 2019 forming that TD set up 9 count price comes back test the breakout area 1483 there was a close below it for one week you need to see two candle closes below any level of support to tell you that it has broken out there that was not the case price found support where it should have and makes a move to a TD 9 count top that does that the week of September 6 now what we have here is an A to B equal CD to the downside gigantic A to B equal CD to downside the B point was taken out with that wide-ranging bar the week of November 8th folks this chart is scary not that scary but it is pretty darn scary if you're trying to take long positions in silver you're not just a trader out here the target to the downside and usually metals in their A to B equal CD they'll overshoot but the one to one is 1568 now at 1525 is where the breakout began on a weekly basis in silver that is likely where it is headed to because 1568 is the one to one it overshoots well why doesn't it overshoot to go back to the point where it should have a lot of support what's going to occur here I don't know what the timing is it is going to shake the bulls out of gold and silver and they are never going to want to own it and that's when you and I are going to want to own it and probably hold on to it for quite a while but right now when we take a look at the longer term charts of gold in silver we did gold and it showed similar which are we don't need to go there we'll come back to we'll come back to high grade copper but first we've got a caller on the line I see that so let's go to Ron in Denver Ron thanks for calling thanks for holding how are you today great Steve thank you for taking my call my pleasure I'm going to take a look at Visa I was interested in getting in call position take me out to January on Visa and I just wonder it's been trading flat for a while it looks like it to me like it wants to get a little stronger and I just wanted to which how it looks to you so you've got resistance if we just take a look at and start with the daily weekly monthly profile levels the monthly profile shows you got resistance at one eighty seven oh five you're trading at one eighty one right now and the daily and it's a bare structured daily profile says one eighty four eighty five hasn't really participated today and knowing that you've got resistance up there just at least it it smells to me like caution so to speak when I take a look at the Visa chart let's see if there's anything else that I've got here that we can take a look at shows us tops or bottoms or anything the daily time frame no no pattern there to speak of let me take and really that's what it would be but let me just take a look at the weekly time frame out here see what we've got you know the weekly shows a rose momentum indicator top that was September 13th that high out there is one eighty seven eighty five price on a weekly basis is below Stevie's green line this may be bar number eight of a TD set up nine count on a weekly basis that suggests caution to you Ron I guess when I take a look at this and we look at the patterns that are present inside of a visa on the daily which is not much other than resistance but weekly we should certainly see that top out there I'm not so sure that this and today's action out here you know you're flat in essence in visa today so maybe that's maybe that's I appreciate that and I'll hold off but could I ask you one more it's in the gaming industry yeah should have a big Christmas it's a eight activation a TV I okay and what you're looking to do the same type of thing going into January and calls I know that they got hit I think because of this Hong Kong thing okay this affected them because they used to get to round eighty five and so yeah so I don't know where they have to be careful or they'll get shut out of the Chinese market right but they got a lot of games okay I believe you I believe you this military game now coming up yeah yeah so here's the deal with regard to activation and just from a from a profile standpoint here you're looking for activation to trade higher into the end of the year and so ideally first you'd like to see price trading above resistance it's like driving down the expressway you know and I'm sure you know where you live in Denver there's probably there's probably if you travel the same road each and every day there's probably areas where there's congestion doesn't matter if the sun is shining or it's raining or it's snowing out there but once you get past that congestion you sort of know your home free and that's what understanding where the resistance levels are well prices above the resistance level on a daily time frame so we already like this chart better than Visa resistance here was fifty three sixty and then on the monthly time frame price above resistance which was fifty three thirty so that's your support level out here the weekly it's trading with inside the profile fifty six twenty six to fifty one twenty two so resistance out here be fifty six twenty six it's equally distributed that box being the center is pretty much in the center so no reason to be too alarmed by it there are sellers of fifty six twenty six but doesn't mean you can't take the trade out there on the daily I'm not seeing anything here to be aware of other than back at its which might be an all-time high the high from November so Ron I just have to say and looking at the chart patterns out here this would be the better of the two to take the style trade that you're looking for I appreciate that and I'll give it a shot we'll see how it works over the next month and a half sounds great hey have a great weekend I appreciate that very much thank you sir you bet that was Ron in Denver Steve Rhodes with TFNM will be right I'm Steve Rhodes author of Mastering Probability and for the last 12 months Timer Digest has been tracking my newsletter signals which have earned me the ranking as their number one market timer in the nation for the S&P 500 for the last 12 six and three 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 is trained by the S&P 500 and I'll teach you the exact set of tools that I use that is transformed me into one of the best at what I do sign up for Mastering Probability today by clicking on the newsletter tab on the homepage of TFNM.com and get immediate access to workshops where I take you step by step how to use an extraordinary set of tools as well as provide great market calls to sign up today the path of least resistance is David White's daily trading newsletter and if you're looking for active trading ideas then now is a perfect time for a 30 day free trial to this powerful daily trading advisory service David uses his years of trading experience to offer his subscribers his trading ideas each morning in his path of least resistance newsletter using a combination of equity trades along with options David keeps his subscribers up to date with all pertinent market information with intraday afternoon updates when warranted don't miss out on this great chance to get a 30 day free trial to David's daily newsletter the path of least resistance with no obligation to pay anything David has been delivering solid recommendations for his subscribers recently and if you'd like to see the type of newsletter he delivers every morning then visit the front page of TFNM and you'll find the path of least resistance under trading newsletters for all the details and to start your 30 day free trial today log on to TFNM.com now TFNM is excited about their new software charting program the art of timing the trade charts in collaboration with Tom O'Brien and using his best selling book the art of timing the trade your ultimate trading mastery system David White has programmed an outstanding piece of software that will complement any traders methodology using this first of its kind program the art of timing the trade charts allows you to scan thousands of stocks for Fibonacci formation setups including guardleys, ABCs butterflies and much more the art of timing the trade charts is designed to help you when scouring the markets for stocks just beginning to form the trading patterns that many investors spend days weeks or even months searching to find and right now we're offering licenses available at only $79 a month we are so confident that you're going to love this new charting software that will even give you a 30 day unconditional money back guarantee don't miss out on this incredible new piece of software get your copy of the art of timing the trade charts today by visiting 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 dot com so the question is where's copper headed to so let's go take a look at the doctor out here and what I've got up on my screen right now for john inside the tiger's den is that the synthetic version of my contract is going to be the more reliable set of profiles for us and well you can see that's occurring today the two right hand panel charts are daily and weekly that price is above both of those profile levels so just like Ron and I were talking it's nice for price to get over where sellers are at where resistance is we'll find some other sellers I'm sure but with regard to these charts with regard to profiles the explosion has taken place or the the traffic jam I should say really the traffic has now cleared up and price can move to higher levels price in the case here on its 6240 daily weekly above all profile level so no reason for price to stop however not so fast we say not so fast we want to go and be able to identify support resistance out here and when price is above resistance levels of our task market profiles what do we go to next either larger time frame which we probably could do we could put the quarterly up here and figure that out we're not going to do that we could do that but we're not going to do that or you go to horizontal trading ranges I don't have the time to do that we could do that out there but we could just look at the daily and weekly charts and start looking for any TD set up resistance levels that we're going to do because that's a simple thing so let's pull over that daily time frame the question is will high grade copper target the 280 level well low behold we've got this nice explosion but because good old Tommy DeMarc are utilizing a portion of his system and I mean only a small little nugget the easiest piece the reason why we selected this well I select this for a number of reasons but one of them because it's easy for you to do for you to calculate that's the beautiful thing you don't have to be a technologist a technician to be able to figure this out you just have to be able to count and take a look at close versus close and close versus close whether it's going up or whether it's going down that's a beautiful thing and the beauty of it is it sets up levels of support and resistance and the next level of resistance is $2.74 out there and this level here was created well it takes us back to the high of May 21st out there it actually formed and completed on June 3rd when price bottom with a TD set up 9 count that's a beautiful thing isn't it well Stevie says it's beautiful thing you may not think it's a beautiful thing but I think it's beautiful thing in fact when it makes a high out here on the trading day of July 19th that doesn't with a TD set up 9 count and you can see how this resistance area John has really been nice resistance so yeah you got a nice wide-ranging bar today but but let's realize where resistance really is right now and it said $2.74 and I know you're just looking for $2.80 probably that prior TD 9 count high back here on July 19th but if price can close above $2.74 and do two consecutive bars daily bars we're looking at a daily chart right now then price can move all the way up to its next breakdown area and that would be $2.92 so beautiful moves yes price above resistance but now what you and I know is there's really a more important level of resistance at nothing to do with the TAS market profiles and it's sitting there at $2.74 so I hope that that helps you out with regard to what we see on the daily time frame chart for a high grade copper I believe there was a request to go take a look at rig lots of things lots of moving parts going on so I'm not sure who requested that and hopefully it was a request but if not well I'm requesting it then we're going to go take a look at rig transition out here transition right now trading above its daily profile so free to roam to further higher prices above the weekly profile which is $5.15 and trading in between a monthly profile brand new that formed here in December a bullish price can close above $5.57 your trading at $5.74 that's probably pretty close right now it's suggesting that transition rig wants to trade up to its resistance level or $7.38 that is the top of the weekly profile let's not stop there let's go take a look at the daily time frame see what we see here well what we see here is that transition or ticker symbol RIG is going to close or appears like it's going to close above resistance $5.40 so a second close above that looks good but jeez Louise at $5.96 you've got resistance as well out here now this bottom with a nice little TD set up nine count bottom it did it at the bottom of its profile it did it with a hammer candle hammer candle telling you that the market was or this market instrument was trying to form a bottom voila it did that's a beautiful thing price now above its resistance area out here it does look to me like on the daily time frame this still wants to head higher but $5.96 is going to be the next resistance level so if we can clear that that would be a beautiful thing let's look at the weekly time frame chart what's the weekly chart shows for ticker symbol RIG not much not much so there's nothing here I say not much it's not the pattern I didn't I didn't do the wave count on it we could but what we won't we don't need to the daily and the profiles are suggesting to you and I that price wants to go higher we don't need to the weekly chart I don't have anything either so we're just going to have to resort to the daily but whoever requested RIG or if somebody did or if you didn't well RIG looks like it wants to continue to move higher I do believe we've got another request out here we do this from Brent in Martinez California Brent wants to take look at ticker symbol S CPE out here because you always need those continuing professional education credits if you want to go ahead and maintain CPA, CPAs need CPEs you got to love it but this is Calon Petroleum Company out here now what I really should do is read Brent's question out here so looks like it's bottom of the daily and weekly were made the weekly can is looking fairly bullish your thoughts would be very helpful have a great weekend you have a great weekend let's all have a great weekend so here's what we do know about Calon Petroleum however you want to refer to it with regard to trading into its resistance levels it's above its bare structured daily profile Brent that was $3 and 95 cents the center was closer to the top which was 384 and the bottom of support was 362 this is suggesting higher price on a weekly basis prices getting back inside the range of its weekly profile the bottom of which was 393 now there's resistance at 428 this is a bullish structured profile as price had closed below the bottom of that profile last week and the week before so we had two bars there a counter trend rally would find resistance around 428 it's trading at 405 right now so just watch that area if price can clear that with some conviction then the top of that profile is where price would be headed to that would be $5 even Steven the monthly time frame chart nothing here price well below its profile levels not a daily time frame if we take a look at it all I have and that's all you need is a TD set up nine count pattern that form bar number eight was on November 21st that was the so called bottom as we speak and if price can move oh I've got CPS CPE sorry about that Brent but say CPS formed a nice a TD set up nine count bottom for those of you that care it does help if you actually type in the correct symbol doesn't it it's a beautiful thing okay so now we take a look at CPE cheese forget about this profile I don't know why this profile is different but I don't see that bottoming pattern the roads momentum indicator bottom on this daily time frame chart out here but that's okay in the profile we're going to rely upon is the e-signal version here the one with the black background chart on a weekly time frame what do we got in the weekly time frame let's just do a quick wave count see where we're at on the wave count was there a wave number seven there was wave number seven so you got a wave seven bottom a nice three river morning star pattern on its weekly time frame and this would say that price would target five eighty four five dollars and eighty four cents is the target between five and five eighty four for ticker symbol CPE that was for Brent California great 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 twenty eighteen set up tax free zones across the country where you can build and hold for ten years and pay no tax on the profits which makes these lots valuable the investment is anywhere from thirty thousand to seventy five thousand the interest paid is seven percent yearly paid on a monthly basis according to bankrate.com the best rate for a four dollars and eighty four cents is three point one percent of fifty thousand dollar investment at a normal four year CD rate of three point one percent would give you income of fifteen hundred and fifty per year or sixty two hundred over the four year period that same fifty thousand dollar investment in the Tiger first mortgage program would give you thirty five hundred per year or fourteen thousand over the four years what should you prefer sixty two hundred of fourteen thousand of interest on your investment if you'd like more information about the TFNN newsletters that's eight seven seven five one eight nine one nine zero if you haven't checked out the news letters page of TFNN dot com what are you waiting for all of the TFNN newsletters are informative up-to-date affordable and must have for every trader looking to gain a competitive informational edge in today's markets TFNN newsletters cover every aspect of the markets to offer you the very latest in market news to test drive our newsletters risk free for thirty days from all aspects of the markets including stocks bonds metals commodities and tech there's a newsletter to fit your needs exclusively from TFNN stay informed each day you trade and get the competitive edge that will help you stay ahead of the game visit our newsletters page by going to TFNN dot com and click the newsletters button near the top of the page of TFNN dot com educating investors biotech is booming but for how long whether you think the biotech bull has room to run or has run its course trade L. A. B. U. or L. A. B. D. Directions daily S. M. P. biotech three times bull and bear ETFs visit direction investments dot com slash biotech today and investors should consider the investment in the direction shares carefully before investing the prospectus and summary prospectus contain this and other information about direction shares to obtain a prospectus or summary prospectus please contact direction shares at eight six six four seven six seven five two three the prospectus or summary prospectus should be read carefully before investing an investment in the funds is subject to risk including the possible loss of principal the funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor we hope to see you for next time. See you next time. Click on the T. F. N. .com. .com. .com. .com. .com. .com. .com. .com. .com. .com. Hi, okay, I guess you I guess you're saying you can hear me. Yeah, you can hear me J. Good here. Okay, perfect Thanks. So currently we got the dial up 346 the S&P is up 32. Let's go to our next request out here which was for ticker symbol CHW Y and So that is chewy and the question for for Hector is Says you call the nice bottom in this puppy scary candle appeared how do How does chewy look now? So let's take a look at that chewy. I didn't call the bottom That's for sure. It would have been Stevie's tools that would have called the bottom that in this case here for chewy Is the roads momentum indicator bottom that be they push price lower? They did it with less relative energy You can see that I know it really began out there were a couple different times that it began once was September 28th the next was October 1st Of course that was just a warning shot across the bow those didn't matter because there was no bullish Reversal can't remember folks you and I were methodical about this We don't care about the news. Well, we might be interested in news But with regard to the charts none of us can hover over a candle and remember exactly what happened out there We don't need to we just need to know chart patterns in the case of chewy moves lower It does with less relative energy forms a bullish reversal candle out here does that with the piercing candle on November 20th That's really what called the top price right now is trading really just with inside its profiles Hector. There's nothing There's no problem. You're probably referring to the candle of December 5th out there where it was a wide-ranging bar to the downside But what price never did was broke through any levels of support So right now all chewy is doing is trading with inside its consolidation range of 20 to 61 to 24 73 but it's trading at 24 88. Voila now prices potentially going to close above a key level of resistance And if it can do that what it's suggesting to as long as you've got two bars with closes above that is 28 27 becomes your target Hector out there so chewy still has a nice bottom looks like it wants to add to 28 27 Hasn't traded long enough for you and I to go take a look at the weekly and or monthly charts It just doesn't matter. There's not enough data for you. I'd really be able to Make any call there the next question. This one is coming in from from sat P and the ticker symbols by Indy beyond meat Stevie still has not tried beyond meat Stevie will not try beyond meat I like my vegetables as vegetables. I like my meat as meat seems kind of simple out there But I don't know I say get a salad with your burger Yeah, doesn't that sound or put lettuce and tomato on your burger out there or put burger on your Imitation burger. Okay beyond that. Okay, let's get beyond that out there Actually was just kind of stalling because I couldn't get the ticker symbol up on my other charts but the question is can you please look at beyond and See the profiles and if there's a bottom should I wait or cannot buy a few shares? Well price is trading below the bottom of its daily profile bottom. It's daily profile 7607 straight below the bottom. It's weekly profile 80 98 not enough time for this to generate any kind of monthly Time frame profile but price almost back to where this thing began trading from an IPO standpoint out there If we take a look at beyond meat There was a skyrocketing think of how many people this thing trapped up at the highs in the 200 to 240 it's trading at 75 buckaroonies out there Holy schnikeys out there now if we do take a look at what does beyond me doing well? right now today it's trying to form a bottom Price moving lower doing less relative energy Yeah, it's trading below the bottom that box But you do have what appears to be a roads momentum indicator bullish reversal candle That's called the three river morning stars So yeah sat P if you want to go ahead and take a few shares No one not to haven't cleared resistance of any sort out here, but you do have the bottom signal That's what you are looking for you would just go ahead and make sure that your stop was The average true range over the last 10 days is 404 Multiply 404 times 1.27 or 1.618 that becomes the size of your stop If you risk 1% let's say it's on a $10,000 account That would be 100 bucks take 100 bucks divided by what might be somewhere around 5 and that would be 20 shares That would be your 1% risk Maybe you just do half of that but do the math that was just quick math in my head and my My abacus could be misaligned or something like that I would rather you do the proper position size remember folks It is all about position sizing when you are trading when you are trading investing doesn't matter for what time frame It's all about position sizing. Why did my mom? I lost my mouse. No wonder. There we go Let me try to get it back. Where where are you? Where are there we go? Okay, okie-dokie. So there we go for beyond me now What we probably should do out here is take a look at the markets. We've gone through all the questions out there Is the ES saying in the key of G so Maria And that's like the perfect segue We haven't even covered the equity markets But this is the segue into covering the equity markets and Maria wants to know has the yes mini formed wave number seven That would be letter G as we take a look at it It already has at least according to the tools in the way that I calculate it So it's either in G. Okay, right now, or it's an a a or G Well, what this did do out here folks I'm gonna try to pull this together Maria for you by taking a look at the daily in the weekly and then the Dow But the under the covers of the Dow to see what we see out here now Here's the a to b equal CD pattern which completed with the bearish and golfing candle last Friday the day after Thanksgiving When we were all digesting so too were the markets and the markets digested by generating a bearish and golfing candle out there And then while law we saw that move to the downside on Monday and then on Tuesday We take a look at the yes many didn't get all the way down to its breakout level up 3063 But got down to a level pretty close now prices trade above the key level out here Maria Probably about 31 43 that is Stevie's green line I'll tell you the reality folks if the yes mini close below 31 43 This may just be a countertrend rally It's a suggestion that resistance will have held likewise Maria if price closes above that Probably well with the ties will get tested, but it would appear that we would go in or it would go and take out its Even further take out its highs out there. Where would it go to with regard to the yes mini? Well, I'm glad you asked that question the answer that question would be Well, where are the horizontal trading ranges here are the Daily weekly monthly horizontal trading ranges and they would suggest a move Maria up into the 31 84 ish area That's what the yes mini is looking like those are the patterns What do we know that took place this week as price pulled back it tested that diagonal trend line the yellow line out there This signal there M is that this is a real breakout, right price gets above resistance a resistance line comes back Test it rejects it. That's what happened this this week And and now it could be off now the races when I say off the races may just be another 30 40-point sire in a 31 84 Especially the close above that 31 43 level Stevie's green line out there. That's what it looks like to me Now if we go take a look at our TAS market profiles, we incorporate that so we can cover what Jay would need out here Well, that's 31 58. So we've got resistance in the yes mini 31 58 And and if price can clear that as well then it should be up to that 31 84 ish area out there But folks before we go to this breakout here I'm just gonna put this chart up on my screens on a chart It's one of my tools helps us identify tops and bottoms. This is all of the stocks in the doll 30. Look at the monthly column Says M. RMI look at all of those tops Even if the markets continue to move higher, we may have some real troubles in River City real troubles We'll be right back Since 1984 Basel Chapman has been using the Chapman wave methodology to advise traders of his expert market opinion Well, originally hand-drawing charts from the late 1970s into the 1980s Basil noticed that prices under most circumstances virtually always had a certain number of legs to the upside before declining sharply Later Basil found that computer software which included the standard market technical indicators Enhanced the degree of accuracy and calling price turns as well as market trend calls Thus was born the Chapman wave sequence Using the Chapman wave methodology along with other indicators Basil Chapman advises his subscribers of his expert market opinion each market day with his opening call newsletter Right now you can get a two-week free trial to the opening call Basil's daily trading newsletter by visiting the front page of TFNN.com Cancel at any time during that trial and pay absolutely nothing get your two-week free trial to Basil's newsletter the opening call today by visiting TFNN.com If you're a trader in the market looking for exposure to gold or gold mining equities Then now is a perfect time to sign up for Tom O'Brien's gold report. The summer is over gold is trading back above $1,500 and the 10-year treasury is hovering at around 1.5 percent Tom O'Brien has been writing his weekly gold report for almost 18 years There's no one that knows more about how the gold market trades and how gold mining equities react new Subscribers get a 30-day money back guarantee so you have nothing to lose every Monday morning Tom publishes his weekly gold report with coverage of gold silver bonds the XAU HUI GDX the dollar as well as more than 30 different mining equities as of September 3rd gold report subscribers have five active open positions with an average unrealized profit of almost 38% for each position to see for yourself the types of profitable trades that are recommended within the gold report Sign up today by visiting TFNN.com You know, it's cool taking something that's good for you Something specifically formulated to help with weight loss better sleep stress reduction and the need to detox Nicar hunter and gatherer ancestors found all their nutritional requirements for health in their wild environment But today our food sources no longer contain the vitamins minerals and nutrients our bodies need to stay healthy and strong That's why we need primal edge daily nutrition It includes a special blend of ionic soil-based vitamins minerals baddie and amino acids and an easy to use liquid form Primal edge is powered by highly concentrated folic and humic acids nature's preferred delivery system They've been called miracle molecules because like sunlight air and water life cannot exist without them. That's right page They ensure we receive all the nutrition we need to be healthy and thrive We take it every morning primal edge Formulated and approved by Niko and Paige of living a primal lifestyle buy it today for just eighty nine dollars Click on the primal edge banner on the front page of TFNN.com This is David White stay tuned because coming up next is the power trading hour right here on TFNN Folks let's come back to Jay's market profiles We just touched on them briefly the Dow that is panel number three from the left to from the right You can see it's trying to form a new daily profile. It keeps shifting. So we're not gonna rely upon it right now But we do have profiles that we can rely upon the ES mini as we talked about resistance at 31 58 The Russell 2000 has hit its resistance level. It's backed off a bit 1636 out there So you've got two at resistance now if the current profile inside the Dow is accurate I don't know if it is or it's not using my using my Leading indicator and even if it's not we can go back to the current one the one that was there yesterday and where price would have stopped In some type of countertrend move would have been either the bottom or the center line and prices right now is trading Basically at that center line. So we've got three instruments at or near resistance the NQ not at resistance It is above the top of its daily profile, however How does this work isn't a beautiful thing don't you love Stevie's green line or red line? Because where is price stopped in a Stevie's green or red line support of resistance? Why yes, it is So now what we've got as explosive as a move as this has been and em We do have wave number seven inside of the NQ on a daily basis We've got an a to b equal CD pattern and we have price moving right up into resistance So we've got all four contracts at resistance. So just be careful. Look at things look bullish They they absolutely do you got the spot ball of tunics below its 50-day exponential moving average that's somewhere around here Where is it? Where is that? Where is that Vicks chart? Where is it Vicks symbols? There we go So you can see it's well below Well, well, well, it's yeah, it's well below 1397 is the number. It's at 1356 So things look bullish out there But again folks and we showed you this just before we went to that last breakout here 16 of the 30 Dow stocks if you take a look at this column it says mrmi all of these topping signals Look at the weekly. You've got plenty of weekly topping signals By the way, you've got a bottoming signal here in McDonald's if you were looking at McDonald's to your portfolio You should go explore that chart with regard to the Dow. Hey folks Thanks much for being here today all week long. I look forward to seeing you on magical Monday Stay tuned your favorite polar bears up next and have a coke with your favorite polar bear. Take care. Have a fantastic weekend