 The following is a presentation of TFNN. The Trader's Edge with Steve Rhodes. All now toll free at 1-877-927-6648 or internationally at 727-873-7618. The Trader's Edge. Now Steve Rhodes. Good afternoon folks, welcome to the November 19th, the terrific Tuesday, or Taco Tuesday edition of today's Trader's Edge show. I'm your host, Steve. Perseverance Rhodes, who absolutely knows that each of us should always be pioneers of our future versus prisoners of our past. Hope everyone out there is having a great day. How about if we have an extraordinary one? Yep, let's have an extraordinary day and the easiest way to do that is to always remember that life is happening for us. Not to us. That's right, when you and I make that one little two-by-four shift, well, one, it could mean we're about to get hit with a two-by-four. No, it means you and I can find a gift in every set of circumstance that life is going to toss at us. Now today, you and I, we're going to go check on the circumstance of these markets. We're going to go figure out what those bulls and bears, what those buyers and sellers are communicating to you and I just passed one o'clock in the afternoon. I want you to know that I'm absolutely grateful for your presence here, but much more important than that. This next 60 minutes, I'm here to serve you. That means you can give us a call at 877-927-6648. We'd love to hear from you. We'll take a look at your instrument, multiple timeframes. Provide you with as much assistance as possible if you can't call in. Well, we've got you covered there. You can send me an email, but send it early. Steve at TFNN.com and inside the subject heading, please put radio show question, of course, and our Tigers did well. Any and every ping will do. So let's go ahead and get this show started. On terrific Tuesday, of course, this is Tiger, Financial News Network. I'm Steve Rhodes. Welcome to Lush Show. Now we've got a mixed market, a mixed bag out here. The Dow is off 108 points. Four tenths of a percent to the downside. The S&P is off. It's basically flat. It's down two and a half points. NASDAQ is flat. It's up eight points. The Russell is not flat. Up a half a percent. The weak dog is the leader out here. It's up eight points. Trading at 1,600. Semi's are off 10 bucks. Down six tenths of a percent. They're the leader percentage wise to the downside. Spotball till next up a couple percent. 27 pennies. Gold's up three bucks. Silver 12 pennies. Lights we crude off a buck 56. Natural gas down four cents. Treasury bonds up 19 ticks. Lead the charge dollar wise to the upside. Corona therapeutics up 31 bucks. 32 percent service now. 12 bucks four percent. Medicine's up 11 bucks. 19 percent. Tesla eight dollars two and a half percent. Downside leaders home depot. 12 bucks five percent. Co-star off 11. About two percent. Kohl's down 11 bucks. 18 percent. Yikes. Restoration hardware off eight dollars. Lamb research off five. So we do have things to look at. Of course I want to look at what you want to look at. No request yet. So let's just go take a look at the markets. What do we have going on? Well if you take a look at today's candle. Inside the Dow out here. That is a bearish reversal candle. It is a key reversal candle. And if we take a look at what that candle is doing or appears to be doing. Of course it is not the end of the day. And it's going to be important as to. Does the Dow. Candle. Generate. The bearish reversal candle that's in place right now. So what we can see here is you can see. One A to B. One A to B. Equal CD pattern. There's a large one out here. Which we'll go take a look at. But we can see we're in between the one to one and one to one point two seven two. Bearish reversal candle would confirm the old sell the D. Point. Of the A to B. Equal CD. So there's one of your A to B. Equal CD patterns. Let me just eliminate that one. You'll see the second one out here. The second one starting back on June the third. That's your A. Point your B. Point is. July 16. Your C. Point of that A to B. Equal CD August 15. Slow. And there you can see you're exactly. I shouldn't use the word exactly. Pretty darn close to exactly that one to one price projection. Twenty eight oh fifty seven. So I've got to confirm sell the D. Points of the A to B. Equal CD. All right. Stevo. So you say sell the D. Point should I unload and sell now. Well first you should wait to see what the end of day candle is. Then you've got to go to step number two. What is step number two. You've got to see price break through a key level of support. Let's go check in on that for the Dow. Here we take a look at the Dow. Where would you identify as the key level of support. Well. Because you're listening in between one and two. You already know the answer to that. You may not know the value but you know the answer. And you are going to say Stevie's red line. Or green line. That not because of Christmas just simply because red tells us that the price oscillator is below zero. The difference between two exponential moving averages 19 and 39. Whereas a green line tells us that the price oscillator is above zero. Nothing more bullish than a rising price oscillator above zero. And as we speak right now at 111 in the afternoon even though we've got a perfect sell the D point. But we don't have is a break of support. And so we still have a rising price oscillator above zero. And therein lies the rub so to speak. But if in fact price goes ahead and rubs against twenty seven eight forty nine. That's Stevie's green line and then decides to close below it. Well then what you've got is a confirmed sell the D point of the A to B equal CD point. However what you then need to do is figure out where's that next level of support in order to do your reward risk analysis. And for us that level is going to be twenty seven oh forty seven point eight one. Yeah we can get right. We can get granular if we really need to. Now you might say well how do you know that that would be a secondary support level Stevo. Well what the Dow did yesterday was it formed a TD setup nine count pattern and the beauty about that pattern is it helps us to understand where the breakout levels are for any instrument for any time frame. In this case we're looking at the daily time frame for the Dow and that level is that twenty seven four oh seven. There would be absolutely nothing wrong for price to pull back into that area. And if it did that would be one of your buy the dip levels as long as price stayed there as long as price held stayed. That's not the correct word. But as long as price held if price fails many closes below that and we're not in there. I'm not making that call just simply as long as we got this Dow chart up what would be the next downside level of support that price would target. Well that would be its prior TD nine count breakout error and that's at the twenty six seven fourteen. So let's summarize the Dow Jones industrials as we speak at one thirteen in the afternoon. We've got to sell the deep point. We've got a topping signal. However is it a top can't be a top until you at least break some level of support. And that first level of support up on the deck would be twenty seven eight forty nine give or take. Now that number is going to change as price moves upward down but you can use twenty seven eight forty nine if it's by a buck or two then it probably isn't very convincing. No conviction so to speak out there but that's that's the level those are the numbers you want to be watching inside of the Dow. Now do we have the same patterns we take a look at the S&P five hundred. Well let's go take a look let's go ahead and put the S&P five hundred up here. Let's see what it is doing. We know it's off about three bucks when we look at that candle. No bearish reversal candle. Now we can look at the same A to B equal CD patterns out here let's go ahead and do that. Let's pull this over here your A point pattern using the same the same swing point so to speak. June third is your A point July twenty six is your B point August fifth would be the C point and you can see where's price at. Well it's really right at the one to one A to B equal CD. Do you sell the S&P five hundred. That's the question as we go into this break. I'll give you the answer. Absolutely positively not. You've got no confirmation whatsoever and price could be targeting three thousand two oh two for all we know. We'll be right back. If you're not currently using the TAS profile scanner when looking at setting up your trading opportunities then your arsenal is short a mighty weapon. The TAS profile scanner is a standalone piece of software that instantly filters over twenty five hundred global financial markets such as stocks ETFs commodity futures and forex headed by Steve doll TAS understands that in today's technological world the use of top flight software applications and technical analysis expertise is essential to successful trading in today's market. You also gain access to the webinar that Steve doll and Tom O'Brien just hosted the best way to use the TAS profile scanner to profit. This webinar archive is available for all subscribers immediately upon signing up. All new subscriptions also come with a 30 day money back guarantee so you have nothing to risk. Start your subscription by visiting the front page of tfnn.com today and you'll find the TAS profile scanner under the services tab. Sign up today. You're looking to sell your current property for maximum value or you're in the market for a second home or investment property Tiger realty has the experience across all areas of real estate in the Tampa Bay area to help buyers and sellers make the most informed decisions across all price levels from the price you should be paying per square foot in certain up and coming areas to the type of cash flow investment properties are capable of creating Tiger real estate can help you make the best decisions when it comes to all areas of the market before you make one of the biggest decisions of your financial future called Tiger Real Estate LLC today at 727-329-8322 or email us at Tiger at tfnn.com that's 727-329-8322 call us today. Many of our new listeners have heard about the Tigers Den. The Tigers Den is a lively community where professional traders and investors can meet exchange ideas and information in a comfortable moderated atmosphere. Hear all of the TFNN shows plus see all of the charts as they happen live and have access to archives of all of those charts. You can test drive the Tigers Den 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 Den are on the front page of TFNN.com. TFNN has launched our brand new website. You can still visit us at the same TFNN.com URL but when you do you'll see a new and improved home page 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 TFNN.com now and experience all the upgrades. TFNN.com educating investors. Welcome back folks so we're taking a look at the S&P 500 before we went into that break. We know that the S&P has completed the one to one A to B equal CD pattern. The larger A to B that we were taking a look at that price projection was $31.21 and the price will just simply continue to move higher until these sellers show up. At this stage of the game even though the candle has a red bar it is not a bearish reversal signal and therefore the sellers really haven't shown up. Not the way that we would need them to to confirm some type of topping pattern. Now we could also see the S&P 500 yesterday form bar number nine of a TD set up nine count that went ahead and created a breakout support level at 3065. Stevie's green line is a 312. So figure 3111, 312. Today you would need to see a close below that to go ahead and confirm the sell the D point of that A to B equal CD which would then give you a price projection of 3065 at least your first price projection to the downside. At this stage here all prices done in the S&P 500 for the most part is test Stevie's green line the oscillator and change line. There is nothing more bullish than a price oscillator that is rising above zero and that's what that green line is telling us. It is the thing. It is the one line out there that can assist you with understanding whether the pullback is just a normal retracement or is at the beginning of something deeper and at this stage here it's nothing more than a test of support. Now we don't have to just stop there because to understand the S&P 500 you and I have a special tool that special tool brought to us by the folks over at TAS market profiles and if we take a look at the TAS market profiles and market breadth for the weekly daily 240 and 60 minute timeframe that would be in your upper right hand corner you're going to see each of those dials are in the green and what that means is that there is positive or bullish market breadth. If we take a look at the NDX 100 as well we can see all of those dials are also in the green. I don't have it for the dial I wish I did those 30 stocks but I don't. We can't take a look at some of the other sectors in there for example you take a look at the XLF XLF healthy as can be I mean all those dials are on the green nodes. If you take a look at the XLK again 60 to 40 daily weekly everything looks bullish the health care sector everything is bullish those three sectors make up a significant portion of the S&P 500. If you go take a look at the XLP that is all bullish out here the XLU the utilities OK here you've got something that's in a bearish mode sort of expected out there if you take a look at the industrial sector in the industrial sector the 60 minute has a bearish crossover meaning it's in the red section out here but for the most part in order for the S&P to get rolling to the downside you're going to need to see the XLV the XLK the XLF start to give you early signals in its shorter term timeframes and it just simply is not there as we speak are you she want to close this application I am and we will let's go to our first question our first question here coming in from Willie Willie I think this is the first time getting a question from you thanks for taking the time to write in and what Willie wants to look at is that the euro US dollar want some comments on that so let me go pull up the charts for the euro US dollars should have probably done that ahead of time but it's hard to do that when you don't know what the question is but we're almost there so let's go take a look at it and we'll begin by and we may just end by taking a look at the daily time frame here for Willie and for you so what do we know about the euro US dollar one it's trading out at about 1.107 I may have a little bit of a delay here but here's what we know price Willie is trading above Stevie's red line in fact what the euro did was generated a bullish message yesterday well how did it do that it did it two ways the first way with Stevie's line changes color out there as it did on the euro US dollar Willie was in November the 12th just a handful of trading sessions ago but when it does change colors what it tells you and I there's going to be an impending test the key test the bullish or bearish test and what that bullish or bearish test is is price and that red line are going to catch up to each other and that is exactly what took place on Friday and on Friday you got the confirmation that the euro was still in a bearish mode well that changed yesterday and it changed yesterday because not only did price close above Stevie's red line it closed above the resistance of its daily profile out there that then suggests that what the euro should continue to do is bounce bounce to where well you're going to have to go back to the prior highs right now the only resistance I really have out here or decent resistance would be the bearish engulfing candle that formed on November 14th that would appear to be the price target right now for the euro US dollar we take a look at the daily time frame for it so well Willie thanks for writing in you say you are long I see that now and I have no reason to suggest that you would do anything else but stay long at least for a short period of time and I do mean a short period of time now I don't know what that means short period I mean keep your eyes glued to the screen out here what you don't want to see is price closed below one point one zero four nine because I'd be back below Stevie's red line but more importantly back inside the TAS market profile out there and it might suggest that you're not on the proper side but you are right now on the proper position the real reason I say caution is I've got several friends and I know it's hard to believe I even pinch myself just knowing that I have several friends out there but what I was really going to say is I have several friends that are in the financial market that's not kind of hard too hard to figure out and I was speaking with one of them last week Thursday I think it was and he and he's big in the when he is firm he and his firm they're the guy Gantuan guys in the debt marketplace worldwide and I'm not going to I'm not sharing with anything that's confidential and what he shared with me is that what's going on in China right now is they are issuing all kinds of debt in euros now I just throw that out there to you Willie you're trading the currency pairs out there so you you know maybe that piece of information might make you say hmm something to think about I throw that out there to everybody else that's listening why would you be why if you were it doesn't matter whether you're China or not but why would the Chinese government be issuing debt denominated in euros hmm something to think about but if you were going to issue debt that eventually had to be paid off would you want to pay it back with a weaker or a stronger currency meaning the euros out there it's interesting it is interesting anyways just something to think about but Willie right now for you I'm agree I'm in agreement I see a continued upside move inside the euro US dollars thanks for writing in and I look forward to hearing from you again we've got another question as well that has come in and this is from John in Sarasota and his question is about ticker symbol we'll just punch it up here on the screen but over the break we're about to go to a break out here we'll spend some further time taking a look at the other charts but it's ticker symbol P. R. O. S. Y. process I believe is the name it's trade out at fourteen oh two out here it looks like it is a IPO taking us back into the September timeframe so there is no weekly or monthly data that's going to help John and I but he wants to know where is this heading we'll do the best we can Steve Rhodes with T. F. N. you back in just a few I'm certain you are or strive to be one of the best of the best at everything you do in life it's the most common trait that we tigers and tigers share if you're looking to become the best of the best when it comes to managing your money let me teach you to do what most wealth managers tell you can't be done which is how to time the markets I'm Steve Rhodes author of mastery probability and for the last twelve 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. and P. five hundred for the last twelve six and three months timer digest also ranks me as the number one market time 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 transforming into one of the best at what I do sign up for mastery probability today by clicking on the newsletter tab on the homepage of T. F. N. dot 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's 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 TFNN 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 TFNN dot com now 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 where Fibonacci formation setups including Gartley's 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 dot 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 dot com welcome back folks so we were taking a look at that ticker symbol let me pull it back up here on our screen for John and Sarah so to ticker symbols P. R. O. S. Y. I would hear in John's question is you know where's this thing headed to so let's go take a look at Stevie's white background charts a boy. Not a lot of let me see if I can pull this back and generate what a bummer this is going to be there we go so here's what I can share with you John right now we can see that the price was pushing lower doing less relative energy on November 14th I'm going to just simply boil it down to you like this it's headed to fourteen twenty five straight at fourteen oh two right now fourteen twenty five is where price broke down that was on October twenty fifth that set up a TD set up nine count pattern out there I can see because of the limited amount of trading that is done is kind of screwing with my TAS market profiles out there if price can clear the fourteen twenty five level it could make its way up to about fifteen dollars in change out there but fourteen twenty five John is what I would be looking for for ticker symbol PROS why out there and best of luck with that trade let me see if there is any other questions out here. Yeah Pat writes in so it's going to take a look at Pat can Steve can you show the DeMarc Chapman wave counts and the Q's on a daily basis so I don't I can only show the TD set up nine counts Pat but then I'll do that for you with regard to the QQ Q series ETF and you want the wave counts. Let me just pull over my automated system we continue to make programming changes to this for you but here this just automatically populates formula I think it's not doing right now is carrying over the current count. Let me let me do it let me do it manually out here because you're asking for this what you're saying daily weekly and monthly. Let me start with the TD set up nine count with regard to the QQ Q series today is going to be the day after bar number ten. You can see here is that what price has done so far today it's pulled back and tested support that is Stevie's Green Line that's a 202.75 level out there so it remains bullish although it does have a potential topping signal from the daily timeframe with regard to wave counts out here I've got it in probably wave number B or wave number two on the daily timeframe out here let's go take a look what the weekly timeframe shows us shows us no topping signal it'd be in wave number C again you know even the next version of the software rolls out to me it'll go ahead and update it'll go ahead and update the current count it's it's waiting right now to confirm the current count but I can see wave number three letter C would be it as far as the TD nine count only bar number six on a weekly timeframe we take a look at the monthly chart out here it'll be wave number or bar number four at bar number three bar number three from a monthly perspective and the accounts on the wave count to the upside could be either GB or C so I've got three different accounts that are present out there so that's the information I think Pat that you are looking for I hope that helps you out thanks for taking the time to write in so no other questions so far none I think in the dead although I was asking a question earlier for some additional feed oh they're hogs Ruby wants to take a look at hogs so let's go take a look at hogs and John if you want to respond to my other question just assist me what you're looking for in XOP and some of those other symbols I'd be happy to take a look at that now Ruby I believe you said you took a long position did you say long let me see here I bought February hogs this morning at the close of the four hour timeframe gap can you see a counter trend rally from here so you're asking about the four hour timeframe and that's not going to unfortunately let me just provide you with what I can provide you with on a 40 four hour timeframe and it's not going to be much Ruby my apology but let me just let me just give you my read with regard to lean hogs the February contract trading out at 70.22 and what I see out here is I see more likely an A to B equal CD to the downside perhaps a currently by pattern and that would the first the A to B equal CD because prices trading below that B point out there so it doesn't matter to me whether it's volume or no volume out here once you pass that swing point you know that's the pattern that is in play and so the one to one level would be 6821 to 1.272 6591 ideally price will move down there and I know you're long right now I'm just going to I'm just simply going to give you my call I think it's a pretty decent call and something for you to consider out there but decent calls have gone awry the reason why I say it's a decent call is I just want you to take a look at the explosion off of the C point so when you do you do anybody do when you use the A to B equal CD tool what you should do is really the first and most important thing is make sure that because some people will do it with their own line tools out there make sure that you're using the exact now when I say exact I don't mean exact I mean exact the exact angle of the A to B point if you are trying to understand the strength or weakness of that CD move now my tool automatically does that for us and so what we can see Ruby what you and I are looking at out here is we are taking a look at how price is trading along the left hand side of that exact C to D angle and what that tells you is that the move down is stronger on the C to D leg than it was on the A to B leg and therefore it just provides you with caution and today is no today right now as we speak it's a doji candle out here that's certainly not a bullish reversal signal and instead I would be I would prefer to be able to report to you hey this just confirmed a Gartley by pattern but it's not there yet it has more work to do the downside as well as generate that bullish reversal signal and that's what I see with my little eyes when I take a look at lean hogs for February so I hope that that helps you out and thanks so much for writing in at John what he's looking at is several different instruments and those instruments being in and the question is X O P F C G I easy X E S any indicators or count suggesting bottoming potential so let's go take a look at X O P the first one out of the gate out here let's get that ticker symbol fired away because John is looking for signals we're just going to stay with our ninja trader charts because when I take use my E signal charts out there there what they're providing you and I with are the easy way to take a look at the TAS market profiles and so to answer your question well first I've got to get this thing lined up the answer John is today is going to be looks like bar number five of a TD set up 9 come and bar number five is pulling right back into two potential support levels one being the bottom of the profile 2057 the second being the breakout area from September 4 2009 at the 2069 level so that's what X O P is suggesting to you and I it's pulling back into a breakout area prior bottoms this area you know should hold and if it doesn't hold boy it's telling us about some more significant problems inside the X O P we'll go take a look at what those more significant issues are on the monthly timeframe chart as soon as we get back from the spring see roads with TF and F. 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you can call me at 877-518-9190 that's 877-518-9190 if you haven't checked out the newsletters page of tfnn.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 plus new subscribers get to test drive our newsletters risk free for 30 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.com and click the newsletters button near the top of the page tfnn.com educating investors biotech is booming for how long whether you think the biotech bull has room to run or has run its course trade labu or labd directions daily smp biotech three times bull and bear etfs visit directioninvestments.com slash biotech today an investor should consider the investment objectives, risks, charges and expenses of the direction chairs carefully before investing the prospectus and summary prospectus contain this and other information to obtain a prospectus or summary prospectus please contact direction chairs at 866-476-7523 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 foresight fund services LLC don't forget you can listen to tfnn live on your mobile device tfnn.com then hit watch Tiger TV that's tfnn.com then hit watch Tiger TV for the latest market information welcome back folks we're taking a look at ticker symbol XOP that's the S&P oil and gas exploration and production ETF and one of the things that I mentioned was the monthly timeframe chart as we were cruising into the break and one of the problems with the monthly chart is prices trading in essence near it's all-time lows that actually occurred last month but below key levels of support swing points taking you back into November of 2008 that's where price is trading below for the S&P oil and gas or glass exploration and production ETF out there the other issue is that what price and any bounce out here price has found resistance and Stevie's red line it's red on a monthly basis and that's where price is trading below zero now if we take a look what it's also doing though first it looks like it's going to be bar number seven of a TD set up nine count price has been moving lower doing less relative energy if by the end of the month in XOP you see some type of reversal and a bullish reversal candle out there well that could confirm that bottom and then what you'd be looking for is a close above 24.02 to suggest here on the daily timeframe yes price did pull back to support whether it's the bottom of the daily profile or that breakout area but without some kind of bullish reversal signal John I would be hesitant to say that yeah this has found some type of a bottom out here based upon the patterns that are present you would also ask about another ticker symbol out here let's do that let's see what this is FCG and it looks really similar but not exactly the same so let's go ahead and put FCG up on my Taz profile see if there's anything out there to guide us along the path here so price hasn't pulled all the way back to 10.05 that is the bottom of the daily profile but it is trading right now below the bullish structured weekly profile and that's not really a great thing out here we take a look at FCG let's pull over my other charts today's going to be bar number seven bar number seven of a TD set up a nine count we know that bars eight, nine or ten could be the bottom of that pattern so you know watch that for a for a potential bottoming signal out here you'd obviously like to see price hold that 10.05 level if that is the way that things are forming in the case of it's monthly the energy sector out here in the energy sector this is going to also be bar number seven looks like this month here of a TD set up nine count so maybe the longer term charts John are telling you and I that the bottom inside this environment doesn't come until maybe December or January when the monthly's form those TD set up nine count patterns last one inside of FCG on a monthly basis the last pattern it was bar number eight that had confirmed that led to a bounce for a period of many months out there so hopefully that helps y'all we can take a look at the others after we get through a couple of other requests out here if you would like Jimmy and I believe a few others want to take a look at natural gas out here so let's go take a look at that gas let me do three charts out here so combination of things here if I pull up the so we'll start with natural gas by looking at the monthly time frame the monthly time frame what we can see is this at bottom with a nice TD setup nine count pattern it did that back in looks like July but let me give you the exact month out here local so that was on August okay it's my eyes you know from a monthly perspective gave us nice bottom price went ahead and last month closed above its red line suggesting a more bullish outcome out here and so far what's really taken place for those of you following natural gas it just pulled back and tested support $2.51 that's on the monthly time frame weekly time frame says hey price could pull back to 243 and still be no problem out here that would be Stevie's red line the top of its weekly box is about 237 let's trust the 243 level out here if I look at the daily time frame what I don't see out here guys and gals any kind of bullish reversal candle and instead what it looks like is more of an A to B equal CD to the downside that is unfolding let's go do that I can't do that I don't have that tool on into trader 8 just yet so instead let me come back to natural gas let me see on my synthetic contract do I do I do I do I do I do I or don't I we're going with don't I so we got natural gas let me roll over here into the January let's do that into the G20 not the G20 but you know the G20 on the contract let's go take a look at natural gas and take a look at that potential A to B CD pattern and it's and it's this one here let me just kind of exploded out for you and this is what this is what we've got to be looking for your A point out here on November 5 your B point on November 13 and your C point out here on November 15 and one to one for natural gas could take us back into about the 242 level out there so you know here's the deal Jimmy here's the deal and everyone else and it doesn't matter how cold it is out there right now what traders are communicating to you and I is that that looks like natural gas still wants to head lower out there so I hope that that helps you out with regard to natural gas and if you take a look again at the bottom of the weekly profile is about 248 so figure this out 248 area is likely where price is targeting to the downside hope that that helps you out Tucker Jimmy and the gang out there let me see I don't have any other questions so why don't we why don't we kind of circle back around try to get a feel for what the markets are doing we talked about the S&P we talked about the Dow is is giving us different messages right the Dow was giving us a message that said hey sell the D point but needs some conviction needs to see a level of support being broken the S&P is saying sorry topping signal but no confirmation out there so what else is it that you and I can take a look at well one of the things that Stevie is watching stock exchange not that you and I can trade it because you and I can't trade it but we can do is we can take a look at some of the signals being generated there and one of the signals being generated it formed yesterday was what I will call a a zero threshold failure but what the heck is that well if we take a look at the advanced decline oscillator that is panel number two in my chart out here on the line when price is below that or when the oscillator is below that it's telling us about sellers being in control it's below that that's not what's important on Friday price got up to the zero line the question was yesterday would we see a turn back down and the answer is we did it's a warning shot that's all right now we'll cover the opening call which will be taking place Tuesday November 19th from 5 till 6 30 p.m. Eastern time titled a comprehensive review of the Chapman wave techniques and market outlook ahead for 2020 this is a great time to sign up for a 30 day free trial to the opening call while gaining access to Basil's live subscriber event taking place later this month Basil will review many of the Chapman wave techniques that helped in their successful analysis as well as providing the sectors and stocks that he thinks will be of importance heading into 2020 for all the details check out the opening call on the front page of 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 a $1,300 and the 10 year treasury is hovering at around 1.5% 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, gold coins as of September 3 gold report subscribers have 5 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 what's cool taking something that's good for 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, fatty, and amino acids in 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, Paige. 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 Nico and Paige of Living a Primal Lifestyle. Buy it today for just $89. 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. Welcome back, folks. So before we went to break, we were taking a look at the New York Stock Exchange, the Advanced Decline Oscillator Reading, and I was pointing out to you how it had turned down below zero. Now, if you're watching this on Tiger TV, you're going to see a number of red arrows pointing downward in that bottom panel. Those are each lining up with the arrows in the chart for the New York Stock Exchange out there. And then down below that is the spot volatility index, which we haven't spoken about today. Coming down below zero tells us that sellers are in control of the market for the New York Stock Exchange. So the wider swath of the market out here. But here's the deal. Each of those red arrows, you'll see a couple of green arrows at the bottom, those green arrows at the bottom coinciding with the other red arrows out there. But those are telling us when the spot volatility index was below its 50-day exponential moving average, which it is right now. Real rocking and rolling to the downside doesn't take place until you see price trading above the 50-day exponential moving average for the spot volatility index. That's a mouthful. That price level is $14.29. Just be aware that there is a signal out here that works really well, but in tandem with that spot volatility index. Now, to finish the day out, Brent is writing in and alerting folks to the potential of a bottom in the pot sector. Can it be growth specifically? People have been calling about this or writing in about this for weeks out here. Today, if we take a look at it as Brent has pointed out, today is a key reversal candle. Key reversal candle where both the prior days high and low have been exceeded. That is the case out there. And as long as there is one tick to the upside, the opposite of the trend direction out there, that becomes a key reversal session. It happens to be a piercing candle as we speak right now. And it is confirming the potential of a three drive to a bottom pattern. This is the first time for all of you pot charters out there, when we're taking a look at canopy growth, I don't know about the others, where it's giving you a potential signal. Ideally what you'd like to see, there's no other pattern Brent that I have out here, but it is a three drive to a bottom and it is being confirmed with a bullish reversal candle, a key reversal bullish candle out there. And the question is, will price be able to take out its oscillator and change line of $16.43? But there's hope for all of you that want to invest in pot. They have a great day, folks. We look forward to seeing you tomorrow.