 The following is a presentation of TFNN The Traders Edge with Steve Rhodes Toll free at 1-877-927-6648 or internationally at 727-873-7618 The Traders Edge now Steve Rhodes Good morning folks welcome to the January 31st the wonderful Wednesday edition of today's Trader Zed 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 hoping others having a great day let's make sure we have an extraordinary one now the easiest way to do that so always remember that life is happening for us that 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 circumstances 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'll go figure out what those bulls and bears what those buyers and sellers are communicating to you and I at just past 11 o'clock in the morning I want you to know I'm absolutely grateful for your presence here but more important than that and that's this during this next 53 minutes I'm here to serve you so feel free to pick up that phone dial on in an 877-927-6648 now if you've got a question but you can't go in you can send me an email send that off to Steve at tfn.com inside the subject heading please put radio show question of course if you're inside our Tigers then well then 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 the show right now we got a mixed bag out there the mix is coming from two indices trading the upside the New York Stock Exchange up five the Dow is up 40 the S&P is off 40 the Nasdaq 100 is down to 60 the Russell's off eight semis are down 73 you've got gold trading out of 2066 that's about 16 bucks silver's up 10 pennies at 2333 like to recruit us off a buck 20 trading out at 7661 natural gas up 6 cents 2.13 is the print there the 30 treasury printed out 122 17 that's up 1.9 ticks leading the charge to the upside you've got Powell Industries I think he's speaking at about 230 today it's up 40 bucks 47 striker corp 20 bucks 6 manhattan associate 17 bucks 7 and a percent mckesson corp 16 bucks 3 super micro 13 bucks two and seven tenths percent to the downside it's rock ball automation down 47 bucks 15 percent broadcom down 25 2 percent market taxes down 22 8 percent roper technologies 21 bucks 4 percent service now is off 20 bucks that's a 2.5 percent move to the downside so we got movers and we've got shakers let's begin our day by taking a look at what let's go start by taking a look at the daily equity future contracts to see what they're doing give me a moment here we're going to switch our screens we'll get over to the white background screen in the upper left hand corner when we get there you will see the ES mini what you see about the ES mini it shows that that right now we've got a three river evening star candle formation I'll just simply expand out the chart now that would confirm this road's meant to midi cater top out there you also have a bar number eight pattern that formed yesterday today price would need to close above bar number five's close in order to trigger a TD nine count that close was 49 23 25 so you'll watch that no guarantee that the this will retain that evening star candle formation at day zen and if it doesn't you might get a TD nine count top out there what we do have was certainly as a new profile that new profiles got resistance up at the 49 40 level support down at 48 80 now the profiles on my white background charts this does happen periodically each of you know that we get a little bit different profile level so for example and I'll just read them to you on the black background chart we match at the lows 48 80 we match at the highs 49 40 where we differ is in the center of the box we've got 49 06 on the black background charts which would create a bare structured profile and on the white background charts it's a bow structured profile with support at 48 97 out there so what do you do I say we kind of don't worry about where the center of those profiles are at and you know where support and resistance is at a close below 48 80 would generate a profile change in trend signal out there this profile formed above the other profile that's a bullish uh indicate that's a bullish indicator from a profile standpoint let's go take a look at the nq the nq getting the snot getting the snot kicked out of it so to speak but what price is really doing it does have a rogment in indicator top that formed a few days ago back on january 24th of that bearish shooting star candle now the key level of sport that it's testing the bottom of its profile is at 17 352 17351 is what we call 17351 a price closed below that today it's hinting that we have a profile change a trend you need to close below support in order to confirm that message out there now i don't have any other support out here on the daily time frame that is a price were to close below the profile in other words actually the next level of sport is down at 15 984 out there that's not where i'm saying price would go if we close below this profile it's potential but that's not what i would be saying at least next now we take a look at the dowel the dowels trading higher today looks like it will go ahead and complete that td9 count top it just simply needs to close at day's end above 38 210 we don't know how the markets are going to respond after paul comes out between 230 and well really between two when he releases the statement certainly between 230 and is usually on to about 330 or so out there but right now you've got a td9 count top that's going to go ahead and confirm it it would complete tomorrow or a bearish reversal candle would confirm arrangement the indicator top no new profile here on its level of support other than the asset or changeline at 35 872 would be doubted 38 050 so you're going to get a top here we've got a top inside the we may have a top today inside the yes many we already have a top inside the nq and in the case of the russell 2000 the interesting thing here will be interesting to see where today's closes i know it's an interesting twice i just thought i'd added a third time in there interesting fourth time because price right now has busted above it's got a bullish profile change in trend signal with price being able to break above the top of that profile it's been for more than two it's been for two consecutive sessions by the way the top of that profiles at 1993 the price is able to stay above that today it's going to be an interesting signal if price gets back inside that profile closes below the top of that profile well it opens up the door to possibly test support and support for the russell 2000 would be between this the equity future contract would be between 1914 and 1944 out there so in essence we've got we've really already got a top inside the russell 2000 you've got what looks like one that's going to go ahead and form today inside the dowel you've got one inside the nq and the es mini may form one at day zen so all that is suggesting that we may have a top in place out there let's go take a look at some intraday charts out here and let's go start with the nq see what kind of signals if anything we can pick up here turns out that on the uh five-hour time frame chart we see no bottom pattern the four-hour time frame chart bar number eight is forming right now i believe that this will complete at noon but let me make sure maybe it's 2 p.m it is at 2 p.m so the earliest in a td9 count bottom on a four-hour time frame chart to come from the nq is going to be at today's close on the two-hour time frame chart uh we do not have any kind of a bottom pattern in fact we've got a negated td9 count bottom on the 60 minute time frame chart road's meant to indicator signal present that needs a bolus reversal candle and certainly a close above its oscillator and change line that's at 17362 to get the type of traction needs to get up to profile resistance that's currently printed at 17455 you've got a 30 minute road's meant to indicator bottom that could form in the next 16 minutes a price can close it's got um so here's the cool thing about that pattern is that price closed below a bolus structured profile for 30 30 minute time frame if it's only a counter trend move the upside the es will find resistance between 17369 and 17381 that's our call for the morning right now watch those levels steve roads with tfnn we'll be right back if you're looking for potential trading setups in the stock market then rocket equities and options report is a newsletter you should try tom yobrion delivers options and equity trades when the markets present them using a combination of fundamentals and technicals sign up for rocket equities and options report today with a 30 day money back guarantee so you have nothing to risk for all the details and to start your subscription today visit the front page of tfnn.com tfnn educating investors you might think that if you want to be successful at trading in the stock market you're going to need a crystal ball after all it's impossible to predict the future right like any endeavor in life before you decide it's impossible get some advice from the experts you might find that it's not so impossible after all for daily market overviews that give you direction on the key indices selective stocks and commodities subscribe to the opening call newsletter at tfnn.com the opening call newsletter is written by basal chapman creator of the trading methodology known as the chapman wave the chapman wave up down sequence gives you an edge in identifying price turns finding the peaks and valleys in stock prices get the opening call newsletter by basal chapman in your inbox every day first time subscribers also get a 30 day money back guarantee if you're not satisfied let us know and you'll get a full refund within 30 days of signing up tfnn.com educating investors steve rhodes started his trading career as a student almost 20 years ago and the student has now become the master steve won the prestigious timer of the year award in 2018 and barely missed that mark again in 2019 finishing 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 tfnn has launched the tiger's den hosted at discord tfnn has been educating traders for more than 20 years with live programming hosted by a variety of professional traders during market hours the tiger's den available to all tigers and tiger's for just one dollar for the year there's no cash or added costs when you join our community of traders sign up today and become a part of this educational community of traders just visit the front page of tfnn.com toll free at 1-877-927-6648 internationally at 727-873-7618 let's go out to our first caller it's john and philly hey john thanks for calling thanks for holding how are you today steve i'm doing very well see about a real quick question i'd like to pose and then listen to your response off air if i may sure steve just reviewing the nasdaq 100 with the earnings reaction declines the nqh2 has had a nice move from the bounce high yesterday into this morning's low my question sir is there anything in the work that you do that suggests this low that we just made a half hour ago uh 17 285 if that's a low that's liable to hold into and through the fomc at 2 p.m and the jp uh presser at 230 uh that's my question if you could just share your two cents and your data i'd be much obliged absolutely hey john thanks for calling thanks for the question so the way that i would first approach that question that john asked is the mere fact i'd be looking at that daily nq chart out here because support is support and those profiles they work pretty well if we take a look at the nq coming off the td9 account bottom from october the uh 26 and we take a look at all of the pullbacks out there they typically had found i say typically because not all of them typically had found support at the bottom of their profile we had a confirmed profile change of trend back on january the second out there and price continued to move lower what we don't know right now is whether or not price is going to find support at the bottom of that profile and the bottom of that profile is the first level to watch john if price was able to hold 17 351 a to be exactly uh but 17 351 as we're coming into the two o'clock time frame there's your answer that yes we've hit a bottom at least coming into uh the uh the press release or the press conference that that will be held out there the other elements of that i would say if that area if price is going to continue to rally would be watching that 30 minute time frame chart out there i think we talked about that as we went into break i want to expand this out that way you can pay attention to both the daily and the 30 minute chart so if a rally is going to further itself it's 11 20 of this bullish candle that's in place right now in a 30 minute basis dollars 10 minutes to complete hasn't completed but right now you wouldn't have a roadsman to indicator bottom pattern you can see that what price is doing here john it's it's it's dealing with that uh selling area that red oscillator and change line a red oscillator change line tells us for this time frame that we have a following price oscillator below zero those are bearish conditions period unless a bottom is forming well we do have that bottom forming so who's going to win the buyers and the sellers i don't know but if we do get it close above 17341 that's that oscillator and change line that's the first positive that a further rally should ensue and then we take a look at that 30 minute time frame chart we know where resistance is at and because that was a bullish structured profile then we know that if it's only a counter trend move right now that we're dealing with 11 21 price will find resistance between 17369 and 17382 a price is able to close above 17382 on a 30 minute basis that tells us about a further rally and that further rally would take us to 17442 now that 17382 levels probably the next key to the answer whether or not this the current little under the the current rally that we have will hold or not so that's the first place that would start or those are the numbers i'd be taking a look at inside the nq to go another step further what we could do is we could take a look and see how are the instruments in the side the nasdaq 100 at least the top eight or so uh how are they trading right now so why don't we switch over to those charts it's going to take a moment here to set up but uh what we will have it set up now it's going to show up on your screen right now are the second eight not the first eight so we're going to change screens here i'm going to try to change screens okay we're cosco we don't want to be on cosco we want to be it's really hard i think this is it no that was back to cosco okay i told you i was going to probably screw it up and sure enough i did not just got to try not to screw it up again i think then it's this one here we got there we go okay so now we got the top eight instruments out here just looking to see if we get any information to help answer john's question so we take a look at apple out here what do we know you know what we know right now is prices back inside the bottom of its profile level that top was at 187.42 uh this would suggest if it uh stays below 187.42 a run towards the 181.62 man fold so that's suggesting lower price microsoft microsoft is actually testing support right now john that's at green offset and change sign and that is at 404.80 to be exact out there and prices at 404.65 so we're basically sitting on support um amazon shows a potential td9 count top but in order for that to form today price has got to close above 158.51 we're trading below that as we speak right now um so to have a real clear signal on that with regard to the top uh broadcom does have a rogment of indicator top and a price able to close below the bottom of its profile today that'd be in 1187.38 that would suggest a run to 1062.61 td9 count is in place for facebook looks like facebook wants to go target 370.95 so apple saying lower facebook saying lower amazon i'm not sure about just yet microsoft i'm uncertain about just yet broadcom it says lower google is found support john so that can add to the idea of a stalled end queue at least at this stage here so google google or google whichever you prefer i prefer google it formed a completed a td confirmed a td9 count top yesterday and its pullback it's a disappointment to shareholders found support at its breakout level 143.35 that's a key level there john if price were to close below 143.35 that would really tell us that google has a change in trend signal out there and in the case of tesla i don't have any kind of a uh well i do have a td9 count bottom that's right tesla has a td9 count bottom and only a close below that january 25th low would negate that and tell us about lower price out here so it does have a bottom but what tesla has to do is first get above the 197 and change call 198 that red oscillator and changeline so to sum it up it does appear i so we got the levels that really on the 30 minute and the daily time frame for the end queue out there i don't know if maybe this little exercise here taking a look at the top eight really helpless or not although predominantly i'd have to say there well it's a mixed bag there too because we can see that some interests are really sitting at support so that was the best i could do i hope that helped answer that question for you and thank you as always for the recall for the call and any request out there speaking of requests why don't we go take a look at our first one before steve gets too far behind this one coming in from sat p and sat wrote any take a look at ticker symbol ups t now give me a moment we get over to that screen so that i'm not talking about one thing and you're looking at something else now we're up to the ups t charts perfect that's helpful and the question is is there upside potential ups t so we take a look at the chart here what's the very first thing that we can communicate to sat p about this instrument we can say that it has resistance between 3481 and 3641 it's clear as can be it was clear before the profile formed it was even more clear after that profile form because prices found support there so your question is what's the upside potential it's between 3481 and 3641 as we speak right now what's the downside potential i'd say it's 30 oh one the bottom of that daily profile we're looking at the weekly time frame chart the weekly time frame chart prices trading with inside his profile but below that green oscillator and change line only a price for to close above that would really suggest that okay maybe upstart out here can maybe even take out that 3641 level we would go jump to that conclusion just yet but right now this is suggesting lower price as well by trading below that weekly oscillator and change line we'll finish taking an upstart for sat p when we get back to the spring hold report as a precious metal gold is still king it continues to hold the most effective safe haven and hedging properties across the global major trading hubs of the london otc market the us futures market and the shanghai gold exchange the gold report tom obrien publishes his weekly gold report every monday morning for subscribers consisting of coverage of the xau hui gdx the dollar bonds the south african rand as well as 25 different mining equities with specific buy sell recommendations the gold report new subscribers get a 30 day money back guarantee so you have nothing to risk subscribe to tom obrien's gold report newsletter now at tfnn.com sharpening your skills as an investor is like getting better at playing a musical instrument you have to practice sure but you also need excellent instruction from experts at tfnn you'll get advice and guidance from the authority and technical market analysis and it's not just dry tedious text either tfnn airs live 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can look over the shoulders of tom o bryan and the other tfnn hosts while they analyze charts during their live tiger tv programs and join an interactive trading community with hundreds of members exchanging ideas interact with other tigers and tigers as they share trading ideas news analysis and discuss the market action all trading day even at night and on the weekends the tiger's den at discord is accessible on mobile or tablets as well so it's always at your reach to sign up today and become a part of this educational community of traders just visit the front page of tfnn.com 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 so uh sat p uh what i found for you is really the chart to be paying attention so the daily weekly monthly show all kinds of resistance up above uh suggesting potentially lower price out here that confirmation will come from your 30 minute time frame chart 30 minute time frame chart for derogement to mitigate our top it did that at the 12 30 yesterday uh price has pulled back and has formed a td9 cal bottom it completed that pattern at 11 o'clock this morning the price is going to close below that td9 cal bottom uh that's at the 32 21 level that's going to tell you that you've got lower price coming at you uh resistance here real resistance on the 30 minute time frame for upstart is really at the 34 83 level you got you got 33 35 33 73 34 11 and then the key one at 34 83 so that's what we see we take a good upstart doesn't look like it's got a ton of upside potential out there and that proof of that will come from that 30 minute whoa what did steve do there and that proof will come from that 30 minute time frame chart out there sat had a second question he wants to take a uh entry into tikka symbol l i t l i t right now trading at 4201 this thing has been moving lower with a vengeance out there and so the question is do we see a bottom this has a had a td it has a td9 cal bottom that was formed on the trading day completed on january 29th and price right now is trading below that low that low is at 42 34 you close the name below 42 34 you don't have any kind of bottom pattern and says this could be a while you are in wave number seven on the weekly time frame chart the earliest confirmation of that seventh wave move would come next friday out there the monthly chart is suggesting wants to make move to 28 75 so i don't see a bottom on the weekly i don't see it well that wouldn't be confirmed until late next week certainly don't see a bottom on the well i see the bottom on the daily the question is where his price is going to close looks like it's going to close below that now it's just a strong downward momentum move i think lit you're looking at sat p maybe around the 28 75 level at least the way that those charts are printing right now so thank you for those two requests out there much appreciated let's move on and go take a look at occidental petroleum for alton his question is buy seller hold well what we have out here in occidental is price had a td9 count top we can see that out here that was a that which formed back on december 26 pulls all the way back to its breakout level of support it pulls back there on january 18 pulling back to your breakout level can be a buy point that's proven to be the case and right now what you're dealing with here alton is resistance at 58 86 the top of that daily profile out there so if you're looking for a buy point and you are gung-ho on occidental petroleum with a pulling back where it should find support is between 57 11 and 57 55 if i look at the weekly time frame chart the rally ran into resistance at the oscillator and change line so pulling back further that would make sense to stevie out there and on monthly time frame chart just a consolidation with insiders profile levels out there so you are looking for your question was buy sell or hold i don't see the sell just yet necessarily so we're going to eliminate sell when i buy it wouldn't buy near resistance so i guess the answer is going to be hold on that one alton so i hope that that helps you out and of course always depends upon the time frame uh that that one is trading out there to really answer that question but devon had a second question uh devon alton had a second question was devon energy you know eventually i'll uh i'll get my act together we take a look at this also a buy sell or hold signal now we're going to say buy out the daily time frame with regard to devon energy td9 cowl bottom prices uh closed above the top of its daily profile trade above the oscillator and change line it's in a buy mode out there on the weekly time frame price has resisted at 43 35 so if you get above 43 35 that'll add to the buy mode certainly for the daily time frame your battle would be between 45 44 and 46 44 on a monthly time frame chart i don't have any kind of a signal here under the consolidation with inside profiles we've taken out last week's high we've taken out last week's low so you got an outside reversal bar right here at the moment but uh they're not really providing us with a ton of information but the answer is this is on a buy and that is a devon energy out there now the 30 minute time frame chart is on a sell right so if you look at a 30 minute time frame chart out here it's got a td9 count top uh it has a um at prices below profile support so watch 42 46 on any move lower watch uh 43 20 on any move higher a price able to take out 43 20 tells you on the 30 minute time frame chart this is more than just a counter trend move for that time frame salt and hope that helps you out thanks much for both of your requests uh duncan steve wants to take a look at dba dba is an etf that holds all kinds of uh of commodity instruments out there dba turns out is going to complete a td9 count top today duncan that would suggest a pullback to support well right now price is trading above resistance that will become the first support level and that's the topic it's daily profile 21 53 if at day zen price closed below 21 53 then we're looking at a move back to the 21 16 level maybe even 2105 the weekly chart on dba is bullish bullish because prices above profile and above that green oscillator and change line that says we have a rising price also above zero those are bullish conditions the monthly time frame a consolidation with inside the profile it would negate that uh that that comp well it's got a td9 count top out here okay so that's what's really in place out here so in order to really get moving to the upside price you're going to need to see it close on a monthly base above 22 38 now in the case of dba what i know that it's gotten the number one holding of dba we're going to change screens here we're going to go to the black background screens i can't pull up all my multi time frame charts right now to take a look at a couple of these commodities but we can take a look at the daily time frame charts here with my e signal system so if you give me a moment and each of these commodities are inside the dba first of the largest one largest waiting i believe as of last night was coco that's your lower right hand panel chart out here so we can see that coco has a bullish profile change in trend signal out there i don't recall if coco's got another kind of top out there but this is what you want to see to be long dba if we take a look at live cattle so i don't have live cattle in here that's the next largest holding coffee is then third which has got about a little over 12 waiting in the case of coffee bullish on the daily but price is really found resistance yesterday at the top of that weekly profile so 196 17 that's a level that you want to see coffee close above if it does suggests further moves higher out there you've got coin and soy and sugar so here if we take a look at sugar we can see that sugar is consolidated with inside his profile if price can close above 24 14 that'll be good for being long dba i mentioned soy soybeans formed a buy the d point pattern yesterday had that nice bullish and golfing candle at the 1 to 1.618 a to b equal cd price is back inside his profile i shouldn't go target the sell zone between 12 36 20 and 12 51 40 out there so there's your review of there's your review of dba i don't know that you can just completely rely upon that daily td nine count top there we'd really have to do some research instead what you really got to do is kind of get a feel for what each of these instruments are doing here because at least um at least the top six or maybe 10 out there because that'll probably at least the top six that probably gets you over 50 of the waiting out there but i do hope that that provided with the information that you were looking for and as always thanks so much for writing in no sugar in your coffee right now 24 14 that's your resistance level hey folks stay tuned when we come back to this break we're going to take a look at rmd for david h we're going to take a look at the currencies we're going to take a look at bitpoint and anything else that maybe somebody's written in about steve rhodes with tf currencies commodities and bond markets are as important as ever right now with how they're driving the volatility in equity markets across the globe which is why it's a great time to try out teddy keg stats tiger forex report teddy keg stat breaks down the forex markets every monday using his 30 plus years of experience as a trading veteran of futures forex stocks and options teddy releases his weekly tiger forex report every monday morning with coverage of all the major currency pairs including the dollar index the euro dollar pound dollar dollar swiss dollar yen as well as many more and he also has weekly coverage of the crude oil market and the 30 year t bonds as they both influence forex markets tremendously when you sign up for 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sophisticated investors such as traders and active investors distributor four side fund services llc this program is brought to you by vista gold traded on the nyse american and tsx under the symbol vgz at the resmen ink ticker symbol here is rmd this is for david h his question is will this head towards a 210 230 area so when we take a look at the monthly time frame chart and that's where i want to start uh because what we can see here is prices run right up into resistance that's at 192 91 and the reason you know so when i take a look at this daily chart as an example i see topping signals i don't have a confirmed top out here so the question i always ask myself when i see something like that is why did price stop where it did and that's what helps us to take a look at a multiple set of time frames out here and that's where the monthly chart because on the weekly chart it's all out bullish and my answer to david for the weekly chart would be absolutely this has a confirmed day to be equal cd the upside gets us up into about the 212 213 area but david is dealing with some options out there and we don't know how long it's going to take to get up there what we do know is that at that 192 91 level or thereabouts because that's going to change as price moves up there's your significant resistance point if price can get above that that's what you're looking for not seeing that chart son of a gun sorry about that thank you well actually on this chart here so long everything in life's happened in force we can also see here that's really his question is will price be able to deal with this gap out there and so if we take a look at that gap the gap starts at the price point of 199 61 so we'll stay here on this chart for a moment and at 219 75 that's where we've got the gap now when this gap to the downside big volume that volume was 2.8 million shares a few days ago this was moving higher with 2.4 million shares so it has the ability to move higher with volume as well as it gets to that but right now so you've got that gap 199 61 is a natural resistance so you've got that monthly let's go take a look at the white background charts now let's switch over and make a nice smooth move over to the white background charts you'll see on the monthly chart out here David I'll price run up in that oscillator and change line and you could get a bearish reversal candle today and if you do then on the daily time frame that's going to suggest that price should at least pull back to 185 84 so you've got a weekly confirmed a to b equals cd pattern you've got resistance on the monthly says I need a timeout the daily saying yeah you might need a timeout to pull back to test support one level 185 and change the next level 1863 out there so I hope that that did a better job of answering your question for you sorry that I blew it the first time around I'm hoping that I didn't blow it the second time around Peter would like to take a look at the currency pairs out there so let's go take a look at hold on a minute hold on a minute maybe we have a caller we do we've got Brent de Martinez California hey Brent thanks for calling thanks for holding how are you today oh I'm doing great Steve I appreciate you taking the call how are you I'm doing well I think uh I think I blew the call on amd yesterday apologize it's all right I just wanted to look at your crystal ball I guess it must have been a lot of focus yesterday or something yeah yeah I think it was the eyes they definitely out of focus definitely out of focus but let's see if we can do let's see if we can do better with mosaic MOS the ticker so I believe uh so tell tell the folks what you're doing and how I can help you I don't have a position again this is another one I'm watching like we looked at that sqm which did kind of break that level today so that's probably going lower but I just wanted to and I'm not doing anything with either one until they make a bottom but there's another one that I think today to sit at you know 52 week lows so I just was wondering if you see anything in that charts that or where would a spot be to maybe be looking to sure to take a long sure perfect perfect so thanks for the request out there one of our dinners big b uh also was interested in mosaic and he's he's looking at it from a long standpoint so this works out nicely so here's what we can say about the daily time frame chart for mosaic on the trading day of uh january 18th this completed a td9 count bottom that led to a consolidation with inside his profile profile resistance was tested at 32 58 so we know that that is a very key resistance level was also taking place as price was testing the top of that profile on january 23rd it was also testing that red oscillator and change line that continues to act as resistance so we need to see a close of the red oscillator and change line for sure to suggest that there may be a bottom out there and preferably a close above 32 58 but the question is is this potentially a bottom since price now the swing point actually took place on january 17th oh whoa whoa hold on a minute i take that back it was january 18th that volume was 6.6 million shares yesterday you closed inside that candle with 4 million shares today so far this has done 874 000 shares so it's really pulling back on light volume we just multiply that times three that gets us about 1.6 we're talking about 6.6 so ideally you would like to see a test and rejection of that low and that is 3133 today's low has been 3133 right to the t out there Brent what do you do in that instance where you haven't gotten below it but you've gotten right to the tick does that impact your decision at all just curious now i was looking at that that's the only thing i really saw on the charting is that that td9 count bottom and then it is testing and i didn't see the volume is quite a bit less so yeah yeah it's a tricky one i i yeah i don't know if you would just wait to see it get above that you know the oscillator on change line or yeah i'm just a little tricky when i i just i don't see a lot of strength in it and just looking at what happened with that and when we looked at a couple days ago sure i'm kind of just going to be patient at this point so and that's really what the weekly and the monthly time frame charts are suggesting as well the monthly time frame chart is trading below the bottom of its profile hasn't taken out any prior swing points but if it did close below and this is the price point here if it did close below today's the end of the month if it does close below 3144 and we're at 3140 right now if it closes below 3144 it actually triggers an a to b equal cd to the downside now the volume on that june 2023 candle session was 95 million shares so far this month we've done that oh it could pass it with volume so your instinct i think was right on because this would generate a very large a to b equal cd to the downside i'm not going to measure it but 1151 would become a price target on the monthly time frame chart that's the td9 count breakout level and uh so yeah so i think at this stage here both for big b and and for you and everybody else i think we need i think we need some more information and the information we might be getting today is that this one's lower price so that's that's what i see at this moment in time but let's continue to monitor this for a couple of days that sounds good yeah i think patience is in order and it's interesting when you put up that chart at light it looked a lot like sqm and i think they're kind of in the same area i think they i know okay okay exposure to lithium and so that seems to be an area that's kind of ties in the whole ev equation that you know there seems like there's been some you know at least talk of weakness there and so all kind of makes sense to just be patient here absolutely hey brent always good to hear from you thanks for the call much appreciated thanks for answering my question about hey what do you what do you think here when price just gets right down to that swing point on on the penny uh we think we need to ask david white i'd love to be able to just give a call and ask him that question out there and maybe tom maybe tom would know because i actually don't know the answer to that when it just i think you know usually i think you got to get just below it it definitely is it's something you can look at and maybe it will make a turn here we'll see it's i i have a feeling i think it'd go lower enough so i'm gonna just kind of you know step aside at the moment perfect perfect all right brent thanks for calling have a wonderful wednesday and we'll look forward to speaking with you again soon that was brent thank you thank you thank you so much you bet you bet we come back to this break folks it'll be quick but we're gonna go ahead and take a look at the currency pairs out there we'll take a look at the year old the end and the pound we'll try to take a look at 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take a look at the currency pairs out here let me get my act together let's go take a look at the euro the yen and the pound real quickly so we saw the us dollar index weakened quite a bit early on we saw gold go trade up into resistance atop of its profile what the euro was doing was it was rallying right up in that oscillator and change line now it just recently turned from green to red testing rejecting that after that happens that suggests lower price that suggests that the euro is going to go ahead and get weaker and the us dollar index is going to go ahead and get stronger out there we take a look at the yen or well i take the uh uh yes if we take a look at the yen the yen here is trading below its green oscillator and change on the daily time frame it's telling us that it has lost its momentum it's trading below that on the weekly time frame this is saying that this wants to strengthen while the us dollar weakens out there and we take a look at the great british pound the great british found on its daily time frame also found resistance at its green oscillator and change line so it's traded into a resistance level as well so if we take a look at both the euro and the great british pound we can see on the daily and the weekly time frame chart our prices trading between support and resistance depending on which time frame it is that you're looking at out there so i don't know you know more than that we can see a lot of sideways movement in the yen and in the euro out there of course the question might be hey stevo if the yen is going to go ahead and get stronger is that going to impact uh gold i'm pretty sure peter would ask that question so anticipating that i went ahead and just set this chart up for you peter the top portion is the yen the center portion is gold the bottom portion is the correlation a three-day correlation between the two we can see since july it's a coin flip 50 50 so don't let the japanese yen impact your trading with regard to uh with regard to uh gold that is at least that's that's my thinking let's quickly flip back to those white background charts see if we can squeeze at least one more in and uh oh jeez wrong thing back ah stevo here we go oh my goodness gracious sorry about that folks stevie screwed up here but there were some questions about uh bitcoin and uh something else or so i'll go ahead and post that into the den since i believe those came from the uh den so folks have a wonderful wednesday be safe out there uh stay tuned for the fireworks that's likely to start at about two two thirty this afternoon and i'll see you tomorrow on wonderful wednesday thank you