 The following is a presentation of TFNN, The Trader's Edge with Steve Rhodes, 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 December 8th, the wonderful Wednesday 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. Let's make sure we have an extraordinary one. 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, it 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 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 just past one o'clock in the afternoon. I do want you to 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. You can dial on it at 877-927-664. I would love to hear from you. If you can't call it, you can always send me an email. You can send it to Steve at tfnn.com and inside the subject heading, please put radio show question, of course, in our Tigers. Well, any and every ping will do. So let's go ahead and get this show started on a wonderful Wednesday. Of course, this is Tiger Financial News Network. I'm Steve Rhodes. Welcome to the show. Right now you got a mixed bag out here. The Dow is off 61. The S&P is flat. It's up two points. The Nasdaq is flat 27 cents. The Russell is not flat up 19 points. Summaries are off 33. Trendy's down 56. New York Stock Exchange up 34. Wilshire up 120. Those are about a quarter percent to the upside. It's that spot follow. Tilted is key and we'll take a look at that in a few. Gold is flat. Silver is down 9 pennies. Lead the charge dollar wise. The upside you got E-PAM systems. 79 bucks. 13 percent. Booking holding 74. 3 percent. Roku about 70 percent or 36. Mercado Libre 27 or two and a half. Hubspot 23. 3 percent. To the downside, it is auto zone. 50 bucks to an app. New Bay Corp down 35 percent or 34 bucks. Charter communications 16 to the downside to an app. Costco off to an app. That's 13 bucks there and Casey's general store is down about $13.6 percent to the downside. Let's go to our first caller. It is Brent in Martinez, California. Brent, thanks for calling. Thanks for holding. How are you doing today? I'm doing great Steve. I thought I'd catch it early. Oh, thank you. Yeah, I don't thank you for doing that. Now is it GGB? Is that what we're looking at? There's, I think we may have talked about this in the past. It's Grigale, a Brazilian steel company. Okay. Iron ore company. The reason I'm calling here is because there's still much going on with this. I mean, just technically on a lot of different levels that there's ABC D patterns that are completed. I should have expansions on the C to D leg. Yes. So basically those are kind of completed. But I mean, there's no barge reversal, so there's not really a reason to. Yes. Definitely be getting out of the trade at the oscillator and change line turn from red degree not too long ago. That test hasn't been done. So there's things to kind of be cautious about or be watching. But then there's also things that look bullish. So I just wanted to see if there are some levels up above. I need to be watching as well. That's kind of a question. Sure. So good point. So yeah, we can see the extension or the extension of the A to B equals CD pattern on the daily chart. You're already above the 1 to 1.618 level, but you're absolutely right until a bearish reversal candler to form. We don't have any indication that this should really, you know, this would be no place to anticipate a short term top. Now, when I look at the weekly chart, panel number two, we can see that right now prices taken on the resistance of the top of that profile. It's trading above at 517 is the top of the weekly profile five right now. It's trading at 521. So I'd say on Friday, if this close above 517, that would be a bullish outcome. If we look at what's transpired here to the to the downside on the monthly basis price came all the way back to the bottom of its monthly profile. So 447. So I've got a level of sport that is held there. I don't know if there was a bottom signal on the daily timeframe or not. You're in a bullish. You were inside a bullish structured weekly profile price closed above this. This is suggesting to us. We'll go look at our other charts that this wants to continue to move higher. The confirmation would be a close this week above 517. And then, of course, a second close next week above it as well. But right now, as we speak at 111 in the afternoon, things look awfully bullish for a GGB. That is Gerdo, say ADR. And let's go take a look at my white background charts out here. So we're only in bar number five. No, I don't have so it did form a roadsman to indicator bottom pattern. So I was making that low back on November 8th. It was this gap to the upside on November 11th that went ahead and confirmed that pattern price. A couple of days ago, three, four sessions ago, took out his TD9 count breakdown resistance at 483. That is a positive. I don't have a change in color on my oscillator and change line. So no reason to suggest that it really has to pull back to that level on a daily basis. Brent, the next area of resistance that I have is really 703. That's not taking a look at swing points and so forth out there. Like I see a set of swing points around 620, that could be resistance. But the daily looks good, the weekly as we take a look at it. Also, when it was pulling back, it was testing and then rejecting its breakout level, which was at $4.27. So this looks good. Once it gets through here, I see that $6.20 area where you might find some resistance. But this suggests that it wants to run back to the highs. The monthly timeframe as I take a look at it. So right now, on the monthly basis, prices... Well, it's actually trading just above its green oscillator and change line. So on a monthly basis, it looks like a close above 516 would also... Brent, I don't see anything bearish about GGP. Not that it can't turn that way, but we're looking at it with the information that we've got right now. And I just don't see anything out here. Well, that's nice to hear. I'm at a lower price. I mean, I think around $4.50. I've got a fair amount of shares. I think it's a really nice dividend. Right now, I think it's a little over 10%. At one point, it was about 12%. It paid a special dividend. It was really nice. It's a 29-cent dividend. So yeah, it's been a good stock. I just was having a little trouble there for a while. I can better. I just wanted to... What you just did, I mean, it took care of it. That's what I was wanting to know, like what level you're watching. There's a positive. I definitely want to stay in the trade. I just do some things I know how to be cognizant of and kind of watching. Yeah, but right now, everything looks good. If nothing here changes, yeah, this thing wants to move higher. So nice trade as always. And is there anything else Brent that I could do for you? I think that's it. I know John from Philly. He's in some of these teas in Valley and Rio. I think those are the ones I was looking at. I've done some trading with, but I just decided to go with this one because I think the valuation is pretty intriguing to me. I mean, they just made $70 billion in revenue last quarter. It's a solid company. I think it's something that should be a higher price in my mind. Fundamentally, and technically it shows it can do that. I was hoping that he could identify for me. I appreciate that. Yeah, and I just pulled Valley up on the chart here. And so if you're going to use that as a... This is right now trading above the top of its bearish structured weekly profile to close this week above $13.13. It says it wants to continue moving higher as well. Hey, Brent, we're about to go to a hard breakout here. Always good to hear from you. Thanks so much for calling, and we'll look forward to speaking to you again soon. That was Brent in Martinez, California. See you, Rhodes with TFNN. We'll be right back. 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 TFNN, all our newsletters come with a 30-day money back guarantee, so you have absolutely nothing to worry about. Visit TFNN.com and try Mastering Probability 30 Days Risk-Free Today. TFNN, Educating Investors. 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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 tech, 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 4.00 p.m. Eastern. For free! Each host is an experienced trader and gives their take on the market while taking calls and questions live from around the world. From the moment the market opens until the closing bell sounds, Tiger TV has eight different shows with expert hosts to help you make the right moves with your money. Watch online at tfnn.com or on TFNN's YouTube channel and become the investor you were born to be, TFNN Educating Investors. Call now! Toll free at 1-877-927-6648 internationally at 727-873-7618 Welcome back, folks! So, we've got a question in the Tigers. Then two of them went from John and Philly, and John is asking what resistance is oil dealing with? And John, it's really simple. There's only one number, and that is $72.51. And $72.51 happens to be the top of its daily profile. So, as we take a look like we've crude, we noticed that as it was pulling back, it was testing some key levels of support. Where are those levels? Well, on the daily timeframe, you can see the rising trend line. I just pulled this back here to the right. So, you got a rising trend line. You had a larger rising trend line on the weekly timeframe. And then on a monthly basis, that price broke above the top of that monthly profile. Price went all the way back to its prior swing point. That was run from back in October of 2018. And then on the pullback here, because that was a bullish structured profile, if lights we crude from a monthly perspective was going to maintain its bullish condition, price needed to find support at the center of that bearish structured profile. $62.63. And that's exactly what it did. It actually got down to a low of $62.43. So, $0.20 below. You've got to love how these profiles actually work. So, support has held in the case of lights we crude. And the question is, will resistance fail? I don't know. But the resistance level, the only resistance level that you're really dealing with is at that $72.51 level. I can go take a look at my intraday charts. They're not going to provide us with any additional information other than that. So, that's the answer to your question. If price can close above $72.51, then we're likely looking for move up to $75.97 and then $79.30. Now, this is a bullish structured weekly profile. So, just the opposite of what we looked at on the monthly basis. As price approaches that $79.30, the question is, will price be able to take that out? Or is that where price will reverse? But right now, you've got to deal with this simply where the sellers reside. That's at $72.51. John, thanks for the question. I hope that helps you out. And thanks so much for writing in. The next question inside the Tiger's Den, in fact, that's the only question that we have at this stage. Nothing coming in by email is to take a look at Snap. And that is Snap Inc. SNAP is the ticker symbol. So, let me get my white background charts rolling here too. Rolling, rolling, rolling. And then we could take a look at anything that they might be signaling to us. So, that would be SNAP. But right now, we can take a look at SNP, who likes Snap. Now, we know, of course, you must be all in on Snap with those call letters out there. What you're going to like is you're going to like today's action. And today's action shows that price is trading above. Well, it's old daily profile that had a bearish structure. There's a brand new daily profile that is in place right now. This is formed. The top of it was 51. You're at 54.36. This is looking good. We'll take a look a while, because I didn't. I put in snazzy. SNAZ. And SNAZ, apparently, I put in SNAZP. You can get the old fat fingers. So, we just got to wait just for a few moments here to let my white background charts populate. And now let's go take a look at this for SNP, who is in SNAP. So, let's pull this over here and go see what it's dealing with. So, your next level, your next battle, okay, so now we see the battle ground. So, this has got a nice Rosamundicator bottom. It's got a TD9 count bottom. It's got everything that you want. And now, today, what price is dealing with is its breakdown resistance area, 54.77. The actual high today, let's see what the actual high today is. Not that it really matters, but we're going to go check it out anyway. 54.79. So, that's really the battle ground. If price can close above 54.77, you're on your way back in to trying to fill that gap. Maybe get up to 77.52. I wouldn't jettison the position or anything. You're just up against you. It's just good to know where the battle ground is at. It's kind of like you and I, what we have out here is we have an unfair advantage by knowing that. Now, if we take a look at the weekly timeframe chart, you know, I could put an A to B equal CD pattern. If I did, I can't do it on this chart here, you're going to get a confirmed, well, it appears you'll get a confirmed by the B point with this nice bullish engulfing candle. That suggests that we should see a move up to 60.73. And on the monthly timeframe for Snap, it's just getting back inside its daily profile out there. So, it says that last month's close below the bottom of that profile may have been a false break to the downside. So, we like Snappy. It's just got to deal with 54.77. If it can take that out, you're on your way to higher price out there. So, hope that helps you out. Thanks so much for writing in. Let's go to our next caller. It is Victor in Paramus, New Jersey. Victor, thanks for calling. Thanks for holding. How are you doing? Good, good. Where do you think Stitch Fix will go? Will it go to 1138 or not? Well, let's pull up the charts out here. So, it's trading right now in 1955. It's below its daily, weekly, and monthly profiles. So, you're asking where might it go? Let's pull over the other charts out here, see if we can try to find some kind of other resistance areas or support levels. So, we'll look at the daily first. I'm going back here. I think a weekly gap I was looking at. You're looking at weekly. Well, here, I just want to give you on the daily, where we're at on the daily first. Now, on the daily, price is negated. It had a TD9 count bottom. That formed a couple of days ago, and today's move lowers the gain of that pattern. It's triggered a roadsman to indicator signal. We've got a gap to the downside. If you were to get a bullish reversal candle, not necessarily today, Victor, but maybe over the next couple of days, that could be a bottoming signal. You're asking, of course, is it going lower out here? As I put up the weekly timeframe charts, the next target level will be $12.30. So, I think you mentioned $11 or so. Yeah, right on. Yeah, $12.30 to $11.30 is a gap on the weekly there. So, yeah. So, $12.30 is the TD9 count breakout level. Since price is below the first breakout area, which is $23.25, and there's no bottoming signal, it looks to me like $12.30 is where it's targeting. So, yeah, I concur with your 11-ish type range, $12.30 would be the level I would be looking at first, and then the first area of support, though, on a monthly timeframe is going to be $1,501. So, $1,501 could hold your $1,955. Now, what you want to do is, as price pulls back to that $1,501 level, come back to the daily timeframe chart. If you see some type of confirmed bottom, that would be your entry into it. If we don't, then what that's communicating to us, Victor, is price should go target $12.30. Anything else that I can answer for you? Yeah, yeah, give me a plan at tier. What do you think of these days? It looks like it might be forming some kind of bottom here. What is it? What was that? I think 1840 was like the lowest. What symbol? From high to low on Fibonacci. I think we hit the lower number on the Fibonacci. You know what I mean? The 1740 or whatever. I'm saying where do you think we're going with plan tier? PLTR. Oh, PLTR. So, let's go take a look at this. PLTR. PLTR. There's like the next IBM in my mind. Well, you've got a, so let me put it over here, PLTR. So, you've got a brand new profile that is forming today. So, your resistance level is 2007. You're thinking that this might go down to where? No, I think it hit its bottom because if you did a Fibonacci from the early high to the early low, I think it hit the lowest Fibonacci level and bounced off of it. You know what I mean? Well, let's see. Let's go take a look at our Fibonacci numbers out here. And I'm going to do that by taking a look at the monthly chart. It's from its all-time low. It's IPO low, all the way up to its high out here. And 0.786 retracement level in the next area is about $16 in change, 1667 or so out there. So, it's really when we take a look at the real Fibonacci retracement out here, it would suggest that it actually has lower to go for. We're going to use that as our tool because prices below the... PLTR. Yeah, I used 17. I went for the yearly low. I didn't use from the IPO date. PLTR. Got it. Got it. Yeah, I understand. The way that I would do it is the way that I just did it, which is the flow that I see on the chart to the high and then take a look at it. But let's just take a look at Palomtyr as well on my white background chart here. Well, I've got a few moments. You've got to buy the D point out here. So, that took place yesterday with that Three River Morning Star. So, it does look like on a daily basis, you've got a bottom. And Victor, if price goes above $20.07, that would just simply be the confirmation of that bottom. So, hope that helps you out. Thanks so much for your call. It was good to speak to you. And have a wonderful Wednesday. Folks, you can give us a call as well. We'd love to hear from you at 877-927-6648. Of course, you can always send me an email. Steve at tfnn.com. We'll be right back. Fun trading the markets, but having trouble finding like-minded individuals to discuss your trading and investment ideas with? 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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 We're now on 59 SMPs up for NASDAQ 118. Let's continue our journey and take a look at their requests out here. I think we've got some from the Tiger's Den. The first one is going to be Nike. NKE is the ticker symbol. Now, that didn't put down what the request was for. So I'm just simply going to go through the chart. So we can see here, Nike is consolidating with inside its daily profile as well as its weekly profile. So your resistance level is in the 177 to 179 area. And support is about 159 164. Let's pull over the Nike charts out here. The other Nike charts see what other signals we might have. So let's begin with the daily time frame. And then the daily time frame here, what do we have? We've got not much. And I mean, literally not much. So just this sideways movement that don't have any signals out here to suggest that the sideways movement is going to end. At least that's coming from the daily chart. How about the weekly chart out here? The weekly chart has a confirmed Rogement Dement Decatur top. So I'd watch 165. 76 as a key area of support. The price gets below that 159.10. And below that you're looking at 128.70. That's not the call, but you do have that Rogement Dement Decatur top in the sideways movement. So we don't see anything suggesting that that is going to change anytime soon. The monthly chart out here says, hey, I don't know what you guys are talking about. I still am strong like bull. And it is trading above its oscillator and change line at 294 and above the top of its profile, bar number seven that formed last month. So this says that Nike maybe could form a well, a bearish reversal candle would confirm a Rogement Dement Decatur top here. So let's just call the chart right now bullish. But what's controlling this movement are the weekly and the daily timeframes. And there's nothing here that suggests that the sideways movement is going to change. So I hope that helps you out whoever it was that requested that. And thanks so much for the request. The next request I believe, or at least this is the order I'm going to take it in is M.U. That is Micron. M.U. is Micron is trading out at what right now 8569 in between its daily profile, bullish structure that is 8270 for sport 8771 is resistance looks to me like it's going to go target the 8771 prices in trading inside it's a monthly profile. Let's see if there's any other signals out here for ticker symbol M.U. The other the other piece of information we have is prices trading above its oscillator and change line that's green that puts us into a bullish condition however we are consolidating inside of that daily profile M.U. should go target the top and that's the 8771 that's what the daily chart is communicating to you and I at 1.32 in the afternoon the weekly chart is communicating to you and I price wants to go tag that 9068 level that's its TD 9 count breakdown level and if price can close above that then you're back to its all time highs where that roads and a communicator bottom form this has an A to B equal CD to the downside that completed on the weekly time frame so you've got a currently by pattern this so 9068 looks like that's in the cards for you eventually for ticker symbol M.U. that is micron technologies I hope that helps you out whoever was looking for that the next request was for Roku so let's go take a look at Roku Roku trading out at 257 and change 257 70 or so price right now is taking out the top of its daily profile so it's an indication of a change in trend there was a new profile that formed yesterday or today this is above price that is a bullish signal the next price target profile wise will be 301 98 that would be the bottom of its weekly profile because it is bullish in structure the level that you would want to be watching for a counter trend move would be 326 24 that's level that price would need to clear in the case of Roku now roll over the white background charts what do we see out here daily a nice roadmap indicator bottom with that piercing candle back up from two trading sessions ago so this is suggesting wants to make a move to 333 34 the weekly chart out here boy you've got to confirm what looks like you don't have a confirmed A to B equal CD to the downside and this is not going to form a TD nine counter does not appear that it will so you want to watch the 279 and change area call 280 a close up to 80 would be a positive and then the monthly time frame chart out here nothing that's really going to system so the daily you've got to confirm bottom this suggests that price should continue to move higher and on the daily chart it's a 333 34 level that price wants to go tag so hope that helps you out the next request was to take a look at ARW are so let's put that up on our screen ARW are that is right now trading where 74 19 and it is above or trail would brand new profile foreign here as well that is today the top of that profile is 73 23 so Dan a close above 73 23 would be a beautiful thing now on a weekly basis you want to see a close above 73 46 that's resistance so forget those two closes what then it is signaling to us that's arrowhead pharmaceuticals is moved to 86 63 the top of its monthly profile let me pull over just the daily time frame that's all I've got on this set of tabs out here see what other information that we can glean you like it because price is also above its green oscillator and change line so stand above that daily profile says to me you go back to its swing points in the 84 85 ish type area out there so ARW are looks pretty good and of course you want to see this close the week above 73 46 so hope that helps you out and thanks so much for the request the next request coming in from Hector and the fuel injectors let's go pull this up Hector wants to take a look at Newmont Mining NEM is a ticker symbol out here so let's get this up on the screen Hector says Newmont Mining has a beautiful weekly AB equals seating down which began in May final last week it showed life and a turnaround may be poised to have a nice two month run higher is it finally time to load up the wagon for a two month hole so I am already long Newmont Mining so I just simply want to make sure that they throw that out there price right now is trading into the top of its daily profile on a daily base that's 5613 price closed above it yesterday if you get a second close above 5613 today that would be a bullish move and that would suggest that we should see a run to 5871 5871 is a top of its weekly profile price can take that out then we're looking at 6045 to possibly 7222 let's pull over I've got a daily weekly chart here for Newmont Mining let's see what other information we can glean from it so this bottom with a TD 9 count you can see the TD 9 count right at the breakout support level of 5364 that is the reason that Stevie is long Newmont Mining and again if price can take out for a second consecutive session the top of that daily profile then Hector we're looking for a run to 5947 5947 is the top as the breakdown resistance level if price can close that then Newmont Mining would be generating a change in trend signal so we always have to take this one step at a time I know you're asking hey what does it look like for the next two months right now all I can do is give you the roadmap ahead where there's resistance where the sellers are of course right now today it's dealing with that the top of the daily profile but a price close above that we know the signal is 5947 the weekly chart out here we take a look at Newmont Mining you're referring to an A to B equal CD to the downside I would harken back and say not so fast the reason that I would say not so fast because it has a confirmed TD 9 count bottom on its weekly time frame now the pullback in price was nothing more than pulling back to test that TD 9 count and to test that bullish structured weekly profile so support is held the resistance level here Hector and Patty the price needs to close above is $60.18 is this a back your truck up I don't believe in the back your truck up I believe in the 1% rule out there because you want to live to play another day out there so you know overlevering can get you into a S load not a Stevie load but another S kind of load of trouble out there but if you're asking me has Newmont Mata has Newmont Mining bottom well the daily and weekly are saying it has so Hector and Patty Patty thanks so much for writing in have a wonderful Wednesday and we'll be back in just a few minutes folks Steve Rhodes with TF&M Are you in the market for buying or selling real estate in the Bay Area including the surrounding St. Petersburg Tampa and Clearwater markets Tiger Real Estate LLC is a firm that has extensive experience in the Tampa Bay area whether 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 and investment properties are capable of creating Tiger Real Estate can help you make the best decision when it comes to all areas of the market before you make one of the biggest decisions of your financial future call Tiger Real Estate LLC today at 727-329-8322 or email us at tiger at TF&M.com that's 727-329-8322 call us today technology around us is changing every day with so much happening 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 Friday with updates throughout the week you can get the Technology Insider at TFNN.com for only $37.50 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 L-A-B-U or L-A-B-D directions daily S&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 666-476-7523 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 four side fund services LLC and now we have up on the screen here is gold pricing dollars euros yen and pounds and when things are rallying you like to see this moving higher in all currency values and you like to if it's moving lower lower in all currency values right now today we don't have that we've got gold moving slightly higher in terms of dollars very left hand panel lower in terms of euros higher in terms of yen higher in terms of pounds higher in terms of pounds so you know the buyers have a little bit of an edge but not much of an edge out there but that's why we're not seeing gold moving really on traders desks out here let's go switch from this set of charts and go take a look at our multi time frame charts for the gold contract so momentarily we'll have that up on our screen the upper left hand corner is going to be the monthly time frame monthly shows a TD9 count top it's just led to a sideways movement out here the weekly chart shows a buy the D point that took place at its breakout level at 16 86 out here price just trading inside its weekly bullish structured profile the daily shows a TD9 count bottom the oscillator change line change colors a few days ago so price and that are basically going to test each other out here the 1795 level it's really 1802 that you're watching your price can close with 1802 we should be on the way to 1875 our price test and reject 1795 90 90 or so now that says we might go back and test 1773 if we look at the 30 minute chart out here not much helping us price headed up to resistance level 1786 90 1787 20 is resisted on the 60 price of trading the resistance right now on the 120 the same not the same for the 240 out here so that's really all about that's all that I see out here right now Ruby so I hope that that helps you out and thanks so much for the request let's go to our next question this one coming in from Nancy fancy Nancy that is and give me a moment here we got to switch screens let's get back to our have done pretty good today right I don't think I've screwed up too much or maybe at all that's in my changing of these screens the old changing of the guard and Microsoft MSFT is what Nancy wants to look at and Nancy says hey Steve Arrino if you haven't already covered it would you give me the support and resistance on Microsoft near to two weeks well I can't tell you how long these support levels so resistance levels will hold I can just tell you where we're at right now what we're at right now in the case of Microsoft is a brand new profile that formed today this is on the daily time frame your support levels 326 53 the resistance level is 339 28 if price were to close below 326 53 then we'd be looking for 321 90 to hold that is the bottom of its weekly profile and a price close below that then Microsoft has got some other issues going on and we'll take a look at what those might be actually give me a moment here to change those screens as well in the moment radio charts okay so what else isn't that I can see out here so I see an A to B will CD to the downside in the case of Microsoft and yesterday was a gap to the upside it's already Johnson would say very interesting so Microsoft did here in Nancy is this going ahead and completed a Gertley by pattern let me show you the patterns the A to B equal CD this was a good old one to one level and it was yesterday's candle that gap to the upside that's the bullish reversal signal and that suggests a currently by pattern that suggests but now you've got a little battle brewing that's at that 339 28 level the top of its profile now all of Gertley by patterns have five different potential outcomes those first four outcomes just going to go ahead and get rid of the trying to get rid of those first four outcomes are going to be retracement levels Victor and I we're talking about retracement in this case here we're going to use the high from the trading day of November 22nd down to the low that's out here from December 3rd so the first level would be the point 382 well you got above that yesterday so check that off list next area is at 337 84 that's a point 618 you also have resisted 339 28 so there's your battleground above that you're looking at 343 above that you're looking at 350 9 or there about looks like I didn't actually grab the exact high out there but back to its all-time high and the fifth outcome would be an A to B equals CD to the upside out there so you've got a nice bottom here looks like Microsoft should go at least tag 339 28 let's pull over my white background charts if there's any other information oh there is so in addition to an A to B equal CD Microsoft generated a TD nine count now we see the resistance so we know the profile resistance turns out that at 339 45 very close to the top of that daily profile is its TD nine count breakdown level that is likely we're pricing to target and pricing it above that we go back to targets all-time high so Nancy I hope that helps you out I know you're asking me for the next two weeks out here I can only give you the play-by-play today the levels of support or resistance whether it's made a bottom which in this case here we have proven that it has let me just look at the weekly chart for you out here and remember the weekly was pulling back to support when something takes gets back to support daily time frame see some kind of bottom pattern in case of Microsoft we have on the weekly basis out here is there any other signal not as if zilch nothing so yeah that's that's our call right now Nancy and I hope that that helps you out thanks so much for writing in now Jimmy wasn't asking me about the spy but he did put the spy inside the Tigers den and so what I thought it would do is just go share with you what the spy did yesterday but all of you already know what the spy did it was pushing higher into a swing point with what volume not a little bit of volume but major volume that's right the swing point for the spy out here and the trading day of November 22nd in volume of 72 million shares and what did it do yesterday it closed inside it with 95 million shares now I'm not a great mathematician but I know that's over 10% maybe like 15% or so with regard to volume maybe it's even 17-18% so a pretty good move in the spies now when you close inside a swing point with volume what that tells us especially for as long as so you don't have to have that same volume today you're already pushed into it with volume and as long as price remains above that low that low is 467.35 this man also close price close above the top of its bearer structured profile which is a bullish signal so this is really suggesting to you and I that what the spies should do is go tag the top and that's at the 354 level and I know there's a lot of people itching to go short go take a look at the spy go take a look at the volume and make sure make sure that that's what you want to do right this very second out there and maybe it is but the information is coming from the spy says hey not so fast now if we take a look at the rest of the market out here some other tools or what have you let's go take a look at the New York Stock Exchange advance the client oscillator you know I shared with you as this was getting down to the minus 150 level this isn't an oversold territory this is back on the trading day of December 1st closed down in the minus 293 level boy that gets bad we haven't been that oversold since the October since the February March 2020 debacle but what we really have out here and we really need to pay attention to that is we have substantial significant gigantic ginormous market breath that market breath has taken us up above that zero threshold level of the advance client oscillator that is panel number two it closed above it yesterday a second close above it today puts the New York Stock Exchange back in the hands of the bulls out there of course we probably should go take we will we'll do it during the two o'clock update we'll take a look at our industry charts we'll go ahead I'll try to remember to take a look at the New York Stock Exchange but this market breath has been so strong we could see a is wide thrust indicator signal and that's an important that is a important bottoming signal now we don't have it just yet and it's something that won't go into the whole scenario for you but we may have that to and if we do get that but that tells us is we do head higher into the end of the year we get back to this breakout here we do have everything up towards resistance those are the daily profiles from our task market profiles here's those charts right there it will go take a look at what needs to take place in order for us to get short to smart zeroed with TFNN we'll be right back 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 and 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 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go into the mathematics of it but just here you can see the blue lines at the bottom or at the 0.382 level price has to get but the indicator has to get below that and then within 10 days it's got to get up to 0.615 area and that's what we've got marked out here so we'll be watching that what I can't share with you is the market breadth over the last couple of trading sessions has been ginormous out there and that's what has taken us from that minus to 50 level up to above zero right now which again puts the market in the hands of the bulls so one of the things you'd like to be looking for is a failure here and so if at days then that New York Stock Exchange advanced decline line gets back below zero that might be an indication of a end of a counter trend rally the other thing that's going to want to watch for is that spot follow right now price is getting very close to the 50 day expense moving average that currently is printed at 2033 prices at 2055 folks at price close below 2033 it's saying don't go short don't go short now now if that level holds combined with the top of these profile areas holding pull up those TAS daily equity future contract that's 4717 the ES 16 456 in the NQ 35 900 in the Dow and 2282 for the Russell 2000 whether I get it but I get at least taking a stab at the short side out there but we've got other indicators that are saying you know be careful might be very very careful at this stage of the game so just make sure that you're using a stop out there and take a look at those short term timeframes see if there's any key levels of support that have failed as I look at the ES mini right now the answer is no one level to watch for be 46 6625 folks stay tuned you got two more great hours hey join me tomorrow please at 8am will be recording that show from 8 to 9 Friday I'll be off back with you on Monday have a wonderful Wednesday folks we'll talk to you soon