 The following is a presentation of TFNN The Trader's Edge with Steve Rhodes At 1-877-927-6648 or internationally at 727-873-7618 The Trader's Edge Now Steve Rhodes. Good afternoon folks. Welcome to the April 6th. The wonderful Wednesday edition of today's Trader's Edge show. I'm your host TV 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 Yeah, let's make sure we have an extraordinary one of the easiest way to do that Just to always remember that life is happening for us not to us That's right. We need to make that one little two by four shift means we can find a gift in every set of Circumstance that life is gonna toss at us. Now today you and I we're gonna go check out 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 had just passed One o'clock in the afternoon. I do want you know, I'm absolutely grateful for your presence here But more important than that and that's this during this next 60 minutes. I'm here to serve you So feel free to pick up that phone would love to hear from you. It gives called 877 9276 648 and if you can't call in we've got your cover there, too Send me an email send it early, please send it to Steve at tf9.com and inside the subject And if you'd be kind enough to put radio show question, of course our tigers didn't well any in every ping will do So let's go ahead and get this show started on wonderful Wednesday, of course. This is tiger financial news network I'm Steve Rhodes. Welcome to last show right now I got all us indices trading the downside that I was up 249 points. Yes and p59 Nasdaq 1386 Russell 29 semis up 100 trainees down 603 Gold is off two bucks silvers off four pennies like recruit off 320 natural gas up 23 cents trade out of 626 and the 30 year treasury I've went one point and one tick trade out at 145 12 lead the charge dollar wise the upside You've got to regenerate pharmaceuticals up 13 bucks 2% public storage 10 bucks to an amperset You're not at health group one and seven tenths percent or nine bucks Lockheed Martin 9 bucks 2% Northrop Grumman 9 bucks or 2% to the downside Amazon up 101 at 3% Tesla's down 61 or nearly 6% striker Corp down $2. That's it. Oh something went wrong there. That's weird Okay, it is down $2. It's supposed to be in order Adobe's off 16 bucks Nvidia down 18 So let's do this. We're at the moment of truth. What is that moment of truth? Really, we come take a look at here's a couple different tools that you and I love to use We love to use our task marker profiles when it comes that spot follow to mix We love that 50-day exponential moving average So if you take a look at your chart on the left that blue line the center line is the 50-day Exponence moving average those red lines are the Bulbinger bands with a setting of 50 to 1 When so price is testing right now resistance the 50 day when price is below the spot volatility It says below its 50 day exponents moving average Markets are generally a bullish. So it's really key to watch that spot volatility So 50 day right now is printing out a 24 53. We're printing at 24 28 now at the same time That's a spot ball. It's this is this is like perfection with regard to me sharing with you a tool Many of you have that have listened for years You know, you're probably tired of hearing about it, but it is what it is But now we can see the importance of the of the 50-day because you have that the price testing the 50-day not breaking through it While on the right-hand side chart, you got the ES mini testing support the bottom of its daily profile So the bottom of its daily profiles with that number on a daily basis is a 44 52 So the spot follow to mix close above the 50-day the ES close it below the 44 52 level What's that going to signal to us? That's going to signal lower price Otherwise, so if you're short right now what you really want to be doing is paying attention to the intraday charts because you're looking to see If there's any kind of a turner signal, I don't know if there is or not Well, I do know that on the 16-minute time frame We saw a buy the D point or a Gartley buy pattern that looked like this Let's go back there because I had some problems with my system I wasn't showing the chart out here here is the ES mini so the yes many you've got the a to b equal CD pattern already Drawn in there you get to the one-to-one level and what happens? Well at 11 o'clock you get a nice bullish reversal candle that is the bullish engulfing So this is telling us that the markets are attempting to form a bottom on a short-term time frame While on the daily basis prices test in the bottom of its daily profile While on a daily basis the spot politics is testing the 50-day expense moving average So you got a bullish profile here on the 60-minute chart that says if you were to see two consecutive close below 44 59 50 is what we'll call it that would signal a move lower But really because you've got a bullish engulfing It's a low of the candles at it engulfed which could be the candle itself in this case here It was the prior candle the one that formed at 10 o'clock and that low that is your real key level of sport 44 54 50 if there's a close below that this pattern will have failed That's the a to b equal CD the Gartley buy pattern and then that's going to suggest to move to 44 23 What happens if this takes hold well if it takes hold if price can close above 44 64 That's the center of the boat. Well, let me make sure Yeah, 44 64 call 44 65 if price can close above that then what you should see is move to the top of the profile 44 80 now price can close above the top of the profile then it says you've got more run to the upside Where's that where is that price? Well, we'll take a look at the yes mini charts themselves the multiple time frame charts So here's what we know we know that that 50 day expense movement average is a very key level to be observing for the spot Volatility so we know that the bottom of the profiles are also or the top of the profiles are also very key levels But for your day, you already have the setup. That's a beautiful thing now Let's switch over and take a look at the yes mini and take a look at its intraday time frame chart So we can get a feel for what's going on there We're gonna try to not screw this up and change a panel so that I'm not talking and everybody's saying what what what? Also, here is the there is our eight panel chart for the ES mini now On a so we've already covered the 60 mature. Oh the 60 minute also has a teeny nine count bottom So you've got two does two bottoms mean it's a better than one note doesn't mean that now You can also see they got the oscillator and change line printed at about 44 70 So closing above that as well as closing above the top of that profile for 60 minutes 44 80 would then suggest to move to 45 27. You don't have that message right now It's what to look for. We already know the downside Because we've covered that with that a to b equal CD pattern on a 30 minute chart out here Do we have any kind of a bottoming signal and the answer is? Yeah, you had a seventh wave move turns out that took place at 10 30 this morning So again just supports and that was the low of the session so far so closeable that would be a secondary Signal of the market wanting to move lower Whereas this could hold 44 71 25 the top of its 30 minute profile has been a level of resistance. So you would watch that 120 minute time frame chart nothing not as if 240 nothing not as if and the five-hour chart as well So it's going to be all about the daily support and your 30 and 60 minute charts when it comes to the ES mini Let's go take a look at the end queue out here done the end queue I'll just switch over to the set of charts that uses some smaller time frames. I've in other words I Yes, that is true Dan. I'll cover that here momentarily. So let's go over take a look at the end queue and here I've just got a different set of charts. I Got rid of the daily or the weekly and the monthly and I just have the daily and then multiple time frames So again, we're just looking for some bottom signals here So the daily time frame price has not made its way back all the way to the bottom of that profile So that support level which would be at 14 391 the actual low of the day so far has been 14 420 Five-hour time frame chart bar number seven no signal 120 minute chart this next bar here closes at 2 you couldn't get a TD 9 count bottom This is in bar number 8 TD 9 count already on the 16 minute chart. So we'll watch that the low the lows of the day get taken out that gets negated 15 minute charts got bottom signals as of the 10 as as the 5 minute chart out there So Steve Rhodes with TF&M will be back in just a few Steve Rhodes started his trading career as a student almost 20 years ago And the student has now become the master Steve won the prestigious timer of the year award in 2018 and barely missed that mark again in 2019 finishing at number two for the year an amazing accomplishment Steve Rhodes is committed to sharing his techniques and knowledge With anyone who wants to learn and he shares his vast amount of trading knowledge every day in his mastering Probability newsletter Steve's award-winning newsletter Mastering probability is delivered every trading day with updates throughout the afternoon sign up for Steve's market newsletter Mastering probability and you'll receive access to seven of Steve's educational webinars Absolutely free at TFNM all our newsletters come with a 30-day money-back guarantee So you have absolutely nothing to worry about visit TFNM.com and try mastering probability 30 days risk-free today TFNM Educating investors What's separating you from the most successful men and women on Wall Street? That's right Information having all the information gives us the perspective We need to place the right trades at the right time the task profile scanner is the premier market profile base scanner Powered by its acclaimed task proprietary algorithms this feature rich scanner Instantly filters over 2,500 plus global financial markets such as stocks ETFs Commodities futures and forex this powerful suite of tools leverages instant trade filtering and strategy formulation to show you emerging trades Before they happen for a limited time You can save $100 off your first month by using the promo code upgrade and you still get a 30-day money-back guarantee So you have nothing to risk Level the playing field with the task profile scanner which you can find under the services tab at TFNM.com Sign up today 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 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 TFNM.com or on TFNN's YouTube channel and become the investor you were born to be TFNN educating investors Free at 1-877-927-6648 internationally at 727-873-7618 Welcome back folks. Now it's down 232 S&Ps off 56 So we're looking at the 30-minute chart here still Dan in the Tigers down and posted a just a statement Which was that yesterday we had a spot ball tonics was up a little over 13% of one day rate of change That is today right now. We're up about 15% and Dan wrote in no bounce And I'd say no, that's not true Dan. I would say no bottom But with regard to a bounce out here So the blue arrow shows where price up closed that as we came into the end of the session last night So that blue arrow and we can see that price was trading inside a bearish structured profile out there So what took place is price moved lower into the 9 o'clock time frame and at 9 30 You got a nice little a bullish reversal piercing candle Just suggesting that buyers were trying to defend the bottom of that profile and from there you actually got an 18 point Bounce so you get an 18 point bounce and then Europe opens and as soon as Europe opens 330 The bank the you know, they you know, it hits the floor so to speak And so markets continue to move lower Then you get your next signal which was a TD 9 count bottom that took place at 8 30 this morning What really took place at 8 this morning That was the bar following bar number 9 And then what you got was you got a a little bit of a bounce not an 18 point bounce But you got a little bit of a bounce But price was unable to take out the top of that profile the top of that profile then was about 44 90 The exact number was 44 86 And so now you've got your next attempt the key here because you've got a wave number 7 You've got the a to b equal cd pattern, you know, it exists on the 60 It also exists on the 30 minute time frame And so the real key level here Dan everybody else that's looking is 44 70 It says 44 69 88 the yes, but he can't trade to that price level So 44 70 if price can clear that that's going to then be a suggestion that price could make It's way up to 45 27 likewise you take out the lows of the day You've taken out those short term bottoming signals So you get a bounce or a bottom You just have to also be paying attention to the other signals on the charts And certainly in a market like like we're in right now You've got to be paying attention to when Asia opens and when Europe opens because they can take hold And certainly put pressure on our market So I hope that that helps answer the question a bit out there And let's go to we've got a several questions four questions so far that are in five Questions because there's one inside the tigers then to take a look at an instrument facebook So, uh, let's do this First uh first question came in from david h david from i believe this is david from tom ball texas And he wants to take a look at At tesla So let me get the multi time frame charts up on our screen out here I think we've got this ready to go one of the reasons I went to it So tesla he says hey steve with tesla Trading at approximately 10 50 on a technical basis. Do you see tesla trading at 9 50? Or 11 50 by april 14. So the question is moving higher or lower So when we take a look at tesla out here the monthly chart, you've got a roadsman Dement indicator top but price still above that green asset and chains line So it signals neutral on a weekly basis for tesla Let's pull this back just a tad roadsman to indicator top price above the top of its profile as well as the top of its Above the green asset and chains line. So weekly signal is neutral So neutral on the monthly neutral on the weekly the daily time frame actually negated a td9 count And it looked like what tesla wanted to do is get back to its highs from november 4th But uh, there's been a change in plans out there and sometimes there are and right now david the change in plans are That tesla is below its green asset or change line that suggests a further retracement A further retracement back to support and it's back inside its daily profile. So if tesla closes below The level of 10 52 today That's the top of the profiles was where the asset and change line is that's going to suggest that tesla should go target 9 69 to 9 90 you asked about 9 50 So i don't even think it gets us down to 9 50 until you close below the bullish structured Daily profile, but that is where tesla should head to Let's take a look at its daily time frame Let's take a look at other time frames as well out here as we shorten this Chart up the 195 minute chart roadsman to indicator top below support the profile level says it wants lower price 130 minute chart the same thing target here is 998 87 You are in a td9 count bottom pattern here Or one that should be complete one that will complete at 150. So you're 122 right now. So that says you could see a bounce you've got on the 30 minute chart You've got a td9 count bottom that is going to complete at 130 roadsman to indicator signal needs as well as reversal candle So intercession right now You've got tesla that's trying to form some type of bottom But still i get back to this david if price closes below the top of its profile That's at the 10 52 ish level out there and the screen outside change line The signal is that price will move back to 9 90 to 9 69. What happens if price closes above 10 52? Well, then david you've got neutral you don't even have neutral You would be in a bullish mode on the daily time frame and then i'd say yeah that 11 50 comes into play out there So i hope that is clear to you and that that information helps you out Just narrating the charts for its different time frames out there So thanks so much for writing in there was a question inside the tigers And i want to forget this to take a look at facebook So let's go ahead and let facebook go ahead and populate on our screen out there And in the meantime i'm going to go take a look at it on the black background charts out there See if there's anything that sticks out now I don't know what the question was about facebook others steve can we look at facebook? Which we are and facebook right now is trading out at 223 55 It is trading with inside its daily profile. So when we look at facebook gear We're looking to see what do we see so you've got a nice td9 account bottom on the weekly time frame And what price did let me just expand out the chart. We'll take a look at it We'll pull this back just a tad and it really kind of gets back to really dance question this morning about the lack of a bounce In the in the es mini we found out no there was a bounce It's just a you know paying attention to time frames and profile levels here If we take a look at the weekly time frame you get the bottom and that says price should go up and test that oscillator and changeline That's exactly what took place Last week sort of and it's certainly taking place this week So it's a red oscillator and changeline on a weekly basis intermediate term time frame if this level holds Then it says that its counter trend move could be over a price for to close above 228 06 Now it's not going to be exactly that number if price moves higher But a close above that would then suggest it runs up to 242 69 If you close above 242 69 in facebook you have an intermediate term change in trend Why because we're looking at a weekly time frame chart. So that's the weekly chart for facebook The monthly chart here price below the bottom of his profile. It's got a rogment to indicator top That says that long term facebook could be targeting 115 51 Now you get a nice bottom pattern out here on a daily time frame You had a rogment to indicator signal gets confirmed with a hammer candle You gap up the very next day the hammer candle is march 15th the gap up on march 16 You actually get a td9 count top and that was negated here on april the fourth That was really suggesting to us that facebook should make a run for 248 Well, actually there's nothing that's changed here other than the fact that facebook is back inside its profile levels And it could be targeting the bottom of that profile Which lines up with its oscillator and changeline if price were to close below 212 28 the sedali time frame Then you'd be looking for facebook to pull back to 194 52 So right now Uh because you're back inside its profile level It's not really clear as to which direction wants to trade in so that we look at the short term time frame charts And see if there's any kind of let's say bottoming signals out there And the only one is coming from the 90 minute. I'm sorry the 30 minute time frame Which just formed a td9 count bottom has a rogment to indicator signal bottom But doesn't have that bullish reversal candle and it's below the profile So even though it's formed a bottom it has not proven itself to us right now s and p I hope that that helps you out with regard to facebook How would I conclude this at this stage here? I'd say more likely than not Price goes and targets the bottom of that profile in the 212 28 How will you know that if the low of the day fails? Then you'll know that because that's the td9 count on the 30 minute time frame chart Hope that helps you out s and p inside the tiger's den. We get back to this break. We'll go to our next question Professor jim and let's take a look at uh A theory you're you having fun trading the markets But having trouble finding like-minded individuals to discuss your trading and investment ideas with Become an apex creditor in the trading markets and join the tiger's den trading room only at tfnn.com The tiger's den is an exclusive trading room where successful traders from around the world come to exchange trades and ideas Join the den and surround yourself with these sharpest minds in the trading world Subscribers to the tiger's den are also the first to have their questions answered live on air And can privately chat with our tfnn hosts live during their shows Interact with other tigers and tigers as they share trading ideas news analysis and discuss the market action all trading day Subscribe to the tiger's den risk-free with our 30 day money back guarantee And become part of the tfnn trading community tfnn educating investors You could be making money off the stock market and if you're already making money off the stock market You could be making a lot more Check out tfnn and tiger tv and get expert investing advice to give you the power to control your financial future Go to tfnn.com and find the newsletter for you whether you're into trading gold metals futures Currencies or options? You'll get advice and analysis to help you seriously get ahead tfnn also features trading services with a 30 day money back guarantee for new subscribers As well as tfnn's tiger den trading room trading software and educational webinars for all trading levels And make sure you check out tiger tv for free on tfnn.com Or tfnn's youtube channel for live financial content from 8 30 a.m To 4 p.m. Eastern on market days stop watching on the sidelines while other people get rich and become the investor You were born to be tfnn educating investors tfnn is excited about our 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 trader's 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 guardleafs abc's 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 tfnn.com This segment is brought to you by think or swim for more information Just click the think or swim banner on the front page of tfnn.com Welcome back up folks. Let's go from where it's 88 degrees to where it's about half of that, which is Toronto Uh to Toronto Canada and speak with michael michael. Thanks for calling. Thanks for holding. How are you today? Yeah, okay. I'm not in Toronto in Niagara Falls I thought you were in agri-falls. I don't know why they wrote toronto down here, but uh Probably even colder. I'm glad to speak to somebody at the tfnn You know, I got thrown out of a larry's new cafe the abcb cafe in london today Because I uh used nio youth from the bank 11 on the black and arizona roadkill Which was which was the daily menu and uh, unfortunately, I got booted out. So I figured I'd give you a call Okay, sounds good. Well, you want to take a look at ung, which means we really want to take a look at natural gas Uh, what are you doing with ung? How can I help you out? I'm underwater on this thing I uh this thing overshot all all Targets I didn't expect to see a double top here in this so um I was wondering if you have any tv nine counts on your your software there Perfect. Well, we do so now you're in bar number nine today in the daily time frame And uh price is moving higher do it go ahead Could you post it, please? It is uh, it should be you should be able to see this the only chart that's up on the screen right now So you should see it either in the tiger tv or on uh, or in the den out there And so you're so easy when you pay a dollar per year to join the tigers then do you get access to these to your um your task market profile charts in real time You get you get access to anything that I post Uh inside the tigers den during the show this morning I had a doctor's appointment and so what I left up for what I left up for everybody inside the den Were the four 30 minute time frame charts that showed all the uh patterns It showed all of any profiles that had formed out there So when I have instances where I'm not going to be let's say using a computer And because of this new uh because of this new uh tiger's den system that we've got I'm able to do that So, uh, don't know how often I'll be able uh to do that because I'm usually pretty busy during the day But uh, so you know, but you do get access to this and you can see it And so what this tells us when we take a look at the daily time frame chart out here Is that we should see a top form between today and tomorrow No, it doesn't guarantee it, but we should see a top We should see a top and and what that should do then Michael It probably should pull back and target its oscillator and change line and that's printing out at 579 right now Tomorrow's high. I don't know whether today's high or tomorrow's high is the important high The highest high between today and tomorrow is the key level Because if price begins trading above that high, whichever it is This pattern will get negated and that'll tell you about a strong moment to move to the upside in the daily time frame Now we go from the daily time frame charts here because we are in bar number nine We look for short term Signals to suggest that the top is forming on a 30 minute basis. You have a td9 count top prices below This is the upper right hand chart. I'll just simply expand this one out for everybody make a little bit larger Easy for everybody to see out here And so this is suggesting to us because prices below the bottom of its 30 minute profile And you're in bar number seven that price should go target six dollars and eight cents That's going to be your first key level if that level gets tested and holds out here Then it says suspect with regard to whether or not there's a top or a change in trend today If price closed below that that says okay bar number nine is taking hold And you should see a run to the 580 level 60 minute chart 60 minute chart same type of thing different pattern roads meant to indicator pattern And that says six dollars and six cents is the area to watch for support I don't have a topping signal per se. There's probably an a to b equal cd pattern on the 120 minute Chart out here right now price is testing support But you've got enough from a topping signal standpoint on the 30 in the 60 minute chart that If you do see a close, I'd say below 606 right now today That's going to be an indication that this td9 count bar number nine is going to take hold or should take hold And you should see a move back to 579 does that now and it's really now what I don't know is inside a ung This is the may contract. I don't know if with inside the ung it's may and june Or what contracts are in there if I do change over to ung and I'll do that here momentarily because you specifically asked about that But the chart patterns are likely going to be different That's why we'd like to take a look at the underlying instrument when we take a look at the ung though You can see that today is also going to become bar number nine. So it's following along that Trip as well. This michael says ung should pull back to about 20 dollars and 14 cents Don't don't quote me to the t that's just what it's printed right now on that oscillator and changeline So does that information help you out? No, it's it's promising. Yeah, it's promising. Um Okay, it just I this is a domestic This is out of the henry hub nimex And this is mostly domestic natural gas Okay, and we're into the shoulder season, which is the physical storage season where they build up inventory, you know So it's very unusual that yeah such a big spike here, you know Well, the thing is though I mean And I just go back to even like on the ung on the daily time frame And if you just simply were to use just just use the oscillator and changeline Yeah, you know when price is above that and it's green It's very difficult to short something. It's not that it couldn't form a top But that's going to be your first level of support on a pullback and as long as that level holds It was nothing more than a retracement back to support They don't always hold but you want to pay attention to it. And so I look I can see Somebody that's an aggressive trader trying to take a short position in natural gas Uh, that's how you're recommending that but I can I can you can justify because of the td9 count But what you have to realize is with price above that green oscillator and changeline This signal is neutral to bullish out here. It's not a bearish signal So Okay, I thanks so much for calling in Okay, thank you very much You bet that was mike in uh, Niagara falls, which is uh, what a beautiful place that is Uh, so now let's go to our next question. The next question was to take look at ethereum ethe So we're going to go ahead and get these charts here populated. Let me try to uh, get over to My black background charts and now let's read the question for ethereum This is the etf by the way for theorem. I can't pull up a theorem The coin itself So, uh, let's take a look at tim's question is you're looking for an entry point to go along ethereum Please look at the daily and weekly timeframes out here So if we take a look at the daily timeframes, you've got a td9 count That's really the most important time frame I think for us to look at because of the topping pattern out here and you're looking for an entry point tim So you get that nice td9 count top forms on march 29th Price pulls back and now you're below that green oscillator and change line like Mike and I were talking So when you're below a green oscillator and change line, it says you've got a further retracement Turns out in the etf ethe This is pulling back into its bullish structured daily profile. That's between the range of 2383 to 2442 So this is the range area where you could look at beginning to position in price for to close below 2383 Then you would anticipate a pullback to its breakout level of 2081 So 2081 would be the ideal level, but we don't have a signal yet that says that that's what's going to happen So you got to look at that 2383 to 2442 level Now what we do is go take a look at the intraday time frame chart See if there's any kind of bottoming signals well 15 minute the answer is yes td9 count The 30 minute the answer is no no bottoming signal the 65 minute You've got a td9 count that's going to complete here in about 12 minutes 150 Is the time frame, but that's the uh, that's the bar following bar number nine So I pay attention today's low if uh, tim if price starts trading below today's lows and ethe After 150 in the afternoon, then you know, you've got lower price coming to you and instead of being 2442 It's likely 2383 or it could be that breakout level But you do have a couple of instant a couple of time frames in ethereum that are trying to form a bottom Nothing it has taken hold just yet and I do hope that that helps you out Thanks much for writing in and best of luck to you steve roge with tfm. We get back from this break We've got questions from john from first station from ethe And we're certainly going to get to all those questions. 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It can seem impossible to keep up with all the information David white's investment newsletter the technology insider is designed to give you all the information You need to understand the technology that shapes today's markets and tomorrow's future David white has made his living staying on the cutting edge of technology His weekly newsletter will give you specific recommendations for value tech stocks As well as entry prices target prices and stops to set for each trade Dave delivers his weekly newsletters every friday with updates throughout the week You can get the technology insider at tfnn.com for only 37 dollars and 50 cents Sign up for david's newsletter the technology insider and get an inside look at everything the technology sector has to offer Try it risk-free today with our 30-day money back guarantee tfnn educating investors Biotech is booming but for how long whether you think the biotech bull has room to run or has run its course trade labu or labd Directions daily s and p biotech three times bull and bear etfs Visit direction investments.com slash biotech today An investor should consider the investment objectives risks charges and expenses of the direction 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 four-side fund services LLC Don't forget you can listen to tfnn live on your mobile device 24 hours per day Go to tfnn.com then hit watch tiger tv That's tfnn.com then hit watch tiger tv Back folks, let's go to john's question out here. This is john. Oh in wisconsin Anna john writes in a steve I shorted a freeport mac ran fcx around 49 bucks freeport mac ran is trading 48 10 right now Your target for this trade is to have it moved down to 44 or so Which it traded to on march the 15th With good volume this is also the area of the 50 day expense moving average Do you see a td9 count or anything in your work that supports your short trade? So absolutely so with regard to is the support of the short trade on the daily time frame Is the erosement to indicator top prices moving higher doing less relative energy and on the trading day of march 28 That's when you got your signal To go ahead and short the stock the only thing it would have traded would have negated that would have been a close above its high And that high was 5199 now Here's what you're dealing with I understand you want this to get to 44 But this is now pulling back into a bullish structure daily profile The volume that it's really testing out here john is from march 29th Now you don't see the volume on my white background charts I can share with you that the volume on that trading day was 15.7 million It's 143 and the volume is 7.8 million So this is pulling back into that swing point with lighter volume Into a bullish structured profile out there and you would need to close and then even if price does move lower Your next level of support is its breakout level and that's at 46 76 now At the same time that the daily is testing support So too is the weekly and again support here is at green oslater and changeline The green oslater and changeline on a weekly basis 48 10 granted It's only wednesday but price right now is testing that level So you've got two areas of support that are holding the questions What do we see on the short-term time frame charts out here? Do we see anything that suggests that john should jettison the position on a 65 minute time frame chart? You've got a td9 count bottom and a close below that low which would be 47 60 would say stay with the trade Price likely to get back to 46 76. You got to take this one step at a time That's the only bottom signal that I really have out here that I see immediately as I take a look at this But you know, I know you'd like this to get to 44 bucks But you've got a new profile that formed Be feared that your target though, you know, and you're talking about the march 15th type of target out there There's been a lot of new information that presented itself before that and that's where these task market profiles are very helpful So you know what this is doing right now You're back at support on the weekly you're back at a strong level support on the daily and with light volume out there So you've got to make a determination Whether you want to take the money and run or you want to just go ahead and let this play out But just simply know you are absolutely back at support So hope that information helped you out and we'll look forward to speaking to you again Joe writes it and Joe wants to take a look at derivian our ivn is the ticker symbol So let's get that going on our multi time frame screen Let's go ahead and read the question. So we know what it is. We're looking for this. Hey, steve I'm in rivian today for a long position of 41 buckaroonies Should I hold or sell and take a loss? Well, the good news is that 41 49 So you don't have to take a loss. So that's good. So you've got some money out here So with regard to rivium, come on go ahead and get all these charts going. There we go So what do you know about rivian? You've got two nice bottom patterns out here So do I understand why you've taken this trade first on a weekly time frame? And at the low is this form a nice roadsman to indicator Bottom and it did that with that nice bullish piercing candle the week of march 18th out there Now what price has been unable to do is clear a key level of resistance Which is going to be at the top of its weekly profile at 71 50 on a daily time frame You had a td9 count and a roadsman to indicator bottom. I'm going to simply expand this out Pull this back just a tad and you had also wave number seven you got a three four out there What price was unable to do is take out resistance at 59 14 It's pulling back right now You'd like to see this hold this red oscillator and change on if it closed below that Says it's going to go target that march 15th level out there So you've got the bottom signals only thing that negates that is a close below those lows Those lows by the way are at 33 46. You're at 41. You probably don't want to feel that kind of heat Let's look at the short-term time frame chart. So 195 minute td9 count pattern that is forming right now 130 minute chart No bottoming signal td9 count on the 65 td9 count on the 30 minute Enrollment to indicator signal on the five minute 15 minute time frame chart out there. You'd love to see You'd love to see 4207 and then 4482 Fail to hold as resistance Should you sell right now knowing that your back gets support that I said and change on in the daily time frame And you've got those bottoming signals on those intraday charts I believe the answer is no But you're looking for a price to really prove itself to you 41 84 is a level you'd like to see price close above Then 4207 and then I'd say 44 83 if you get that then you're out of the woods But I don't know what the reasons were that you took that trade But I don't see the reasons right now to jettison that trade And I do hope that helps you out joe and best of luck to you with With ribion eddie writes in and eddie's question is with the es forming a td9 bottom And considering we are selling off again before the fed minutes Do you think we can bounce when the minutes come out since their brain already spilled the beans about? And you want to take a look at apple so as well So how do I answer his question? Well, first I'm going to go ahead and populate this chart The second thing I'm going to do actually I'm going to go switch back over to the black background charts So give me a moment here to change the windows because I want to make sure That it still has that bottoming pattern and the bottoming pattern was a by the d-point that we took a look at for the For the es mini and it was a 60 minute time frame and the answer is it is still held So the bottom is in there So you're saying so do I think that when the minutes get released at 2 o'clock that the market could bounce The market has to prove itself to you and right now you're trading between support and resistance on a bottoming pattern out there If price were to close about 44 80 At 2 p.m. It's 148 right now that would be a nice signal But that would only be one bar above that level Uh, it is so all that I can share with you eddie is you've got a valid bottom signal on a 60 minute time frame We might have had it on the on one of the other charts out there I don't remember what the time frame was but here you've got a key level of support And that key level of support that you really should be watching is going to be the low of the day And again that low is at uh 44 54 50 Price close below that the es mini should go down to at least 44 23 maybe it's lower than that and if price can close about 44 80 Then you should see a further rally inside the es mini. So now let's go switch charts You were asking about apple let's go see what the apple charts are suggesting at this moment in time And here that's going to be again multi time framed out here An apple on a daily basis testing support the support in apple is the bottom of its daily profile 170 79 So I guess the question is what kind of volume does apple have as this pulling back into that support level? A ap l i'm going to look at this on a different screen As soon as it populates I don't really have what it's going against so to speak I mean it was going against I guess 90 million shares You're back with 49 million shares wasn't a swing point It was just the trading day of march 24th as prices moving up. So you're pulling back in apple on light volume So what's it doing on the short term time frame charts td9 count on the 65 should get priced to 174 16 Out here on the 30 minute chart for apple What steve you got doesn't look like I've gotten much Just open this back up well prices back above its oscillator and change line and it's testing It's a 30 minute profile. So even though I don't have a bottoming pattern Out here if price closes about 172 27 on the 30 minute basis 10 minutes to go That would be a bullish signal out there, but it will only be one bar above that level If it had two bars above it any then we'd say, okay, you're going to see more of a rally Or you're looking again at an intraday time frame chart out there. So I So, I know you'd like the answer The answer comes from the charts that we take a look at right now. We just know it support resistances act And I can't do much more than that. So eddie. I do hope that helps you out Thanks much writing and always good to hear from you and have a great or a wonderful Wednesday Hope you're right 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. 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That's tfnn.com then hit watch tiger tv Welcome back folks. So eddy had asked about nvd as well and very similar to apple eddy And that is the short term time frame charts 15 30 65 each have bottoming patterns out there Says price is trying to bounce the key level to be watching. So the first level is 246 70 You close above that price should continue to move higher move higher to where I'd say about the 251 level You close above 251 you've got more rally left You take out the lows of the day because they are td9 count patterns on those interday time frame charts That tells you that nvd has headed lower lower would be down to the 231 72 area out there So let's go back to our black background screens out here in my e-signal charts and we'll just simply Summarize what is going on inside the market. It's really basically where we started Which was this set of charts here left hand panel lower left hand panel spot follow tunics price gets up to the 50 day Tests and rejects it the es mini gets back to support the bottom of its daily profile Tests and rejects it now what I don't know is what it's going to look like at day's end But right now if you're asking me what has the mark? What is the market doing? It is simply pulled back to support and the bowler's trend Remains in effect that would change if we see the es mini closed below or at least from a short term basis That would change if price closed below the 44 52 level and the spot follow tunics We're to close above 24 50 the caveat there is the spot follow tunics does that you're going to have another Day with a one day rate of change above plus 10 percent and again You have to be watching for a bounce slash bottom to form Overnight out there. Can I do the update on the nq charts out here? I can so let me Well, I think I can I think I can let me see if I can get there quick enough nq interday charts Change the screens out here and really it's the same kind of setup for the nq And that is this and that this being that the daily time frame Which is your left hand panel chart basically got down to the bottom of its profile at 14 391 It actually got down to a low 14 for 20 You've got a td9 count bottom now at 120 minute chart the 60 minute chart bottom pattern on the 30 minute chart Bottom pattern on the 15 minute chart bottom bottom pattern on 10 and on the five minute chart for the nq's Folks stay tuned your favorite polar bear david whites up next tom o bryan He'll take us on home. I'll be back with you on a terrific thursday have a wonderful winst You