 The following is a presentation of TFNN. The Trader's Edge with Steve Rhodes. Call now toll free at 1-877-MAC-27-6648 or internationally at 727-873-7618. The Trader's Edge now Steve Rhodes. Good afternoon, folks. Welcome to the October 30th. It is 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. Hey, let's have an extraordinary one. Yep, let's have an extraordinary day. 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 of means we can find the gift in every set of circumstances that life is going to toss at us. Not today, you and I. We're going to go check on the circumstance of these markets. We're going to go figure out what the bulls and the 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. During this next 60 minutes, I'm here to serve you. Feel free to pick up that phone. You can dial on in at 877-927-6648. If you can't dial in, we've got you covered. Let those fingers do the walking. Go ahead, send me an email, steve at tfn.com inside the subject. If you'd be kind enough to put radio show question. And in our Tigers Den, well, any ping will do. So let's go ahead and get this show started on a wonderful hump day Wednesday. Of course, this is Tiger, Financial News Network. Welcome to Lush Show right now. We've got a mixed market. Well, sort of a mixed market. You've got the Dow is the only indices in the green. It's a 27 points trade out of 27099. The rest are in the red. The Dow basically flat market though. The S&P is off a point. NASDAQ 100 down two. Now the Russell is not flat. It's off 10 points. She's trading out at 1658. The Wilshers off 32 points. That's a flat mark. Wow, the transport's down 228 points out there. That's a little over 2%. Spot volatility is basically as flat. It's trading out at 1322. Gold's up $6. Silver up three pennies. Light's we'd crude back 67 cents. Natural gas up 15 cents. Another 6% today. T bonds are up 21. Ticks to 30 year. Leading the charts to the upside. You've got dollar wise wealth care health plans up 13 bucks. 4%. And extra international ink up $11 or 15%. Netflix is up 9%, 3% to the downside. It's little fuse. It's blown its fuse. It's off 15 bucks. 8.5%. Public storage down 14 and change. CH Robinson. Worldwide 13. Boston beer. Sam Adams off 12 bucks. 3%. Of course I want to look at what you want to look at. We'll go to our first question. First question coming in from Brent in Martinez, California. And I won't read the entire e-mail to you. But Brent wants to go ahead and take a look at ticker symbol S-L-C-A. We looked at that last week. He did not get into this position. That is US silica holdings had a big gap to the downside with some big volume in it yesterday. And Brent I believe is looking at a larger A to B equal CD pattern out here. So we'll take a look at that by larger. We will go take a look at the monthly time frame. And if we take a look at the monthly time frame, put an A to B equal CD pattern out here. And this is going to help us with regard to a potential price projection area. The A point is the high out here in 2014. The B point looks like, let's see, $13.53, $13.48. $13.48 is at the low. Yeah, $13.48. That was from October 2015. And then your C point is the retracement into February of 2017, about an 80% retracement. So the one to A to B, one to one monthly A to B equal CD pattern Brent would take us to about $1.54 out there. I think I'm using the same numbers that you are as well. So that is one possibility, one price projection level out there. What else do we know about silica holdings? Hey, look, it's below the daily profile. It's below the weekly profile out there. So we've got to see some really good signs of a bottom from each of these charts out here. And so let's go take a look at them. Let's go see what the monthly time frame. They're using Stevie's other charts out here. And so as we take a look at those, here's our monthly time frame chart. So we've got the A to B equal CD price projection area. What we also know is that price on a monthly basis has been moving lower, doing less relative energy. So on a monthly basis, if we do see some type of bullish reversal candle, there would be two, count them two, patterns that would be completing and forming. You'd also want to see price get above Stevie's red line. So if you take a look at US silica holdings on a monthly basis out here, price has been below Stevie's green slash red line. The oscillator and change line since April looks like April. What was the year out here? Can I get it? Let me get it. There you go. It was April of 2017. I guess you could look to the bottom of the screen to figure that out. So that's going to be a real key deflection point Brent. And so even if we do get a bottom, you know, that's a level that you're going to want to see price close above. Let's go look at the weekly timeframe chart out here, see if there is any kind of pattern forming. We can also see that price is moving lower, doing it with less relative energy. This looks to be like week number six of a TD nine count pattern out there, but still a bullish reversal candle could identify a bottom. Now we have had three false alarms, two false alarms, two false alarms with that Rhodes momentum indicator pattern. Because we did get a bullish reversal signal on a weekly basis, June 21st. You just had a little bit of a bounce for about a month and a half out there, but that didn't really lead to much. We had another bullish reversal signal on a weekly basis in September, September 13th. That didn't amount to much, which is what Brent takes me back to the monthly oscillator and change line as a real key level for U.S. political holdings in order to get above in order to generate a confirmed bottoming signal. Nothing here on the daily timeframe for you and I had to pay attention to at this stage of the game. So I hope that helps you out. In summary, I believe you were asking about the A to B equals CD price projection. That one to one area gets you down to a buck fifty four. You're trading at five thirty six right now. Let's go out to Denver and speak with Ron. Ron, thanks for calling. Thanks for holding. How are you today? Great, Steve. We're snowed in here. Snowed in? Oh, man. But anyway, I was wondering if you could comment about gold and then in particular, Barrett Gold, G-O-L-D. I own some calls on G-O-L-D that I just recently bought today. So Barrett Gold ticker symbol G-O-L-D out here. Let's go see what it is doing currently trading out at sixteen ninety four. And so it's got some resistance out here and the resistance, the first level of resistance just looking at market profiles. We'll take a look at a few other things, Ron. But your first level of resistance out here is about seventeen oh five between seventeen oh five and seventeen twenty one. Now today's high in this is seventeen bucks, even Steven. Now, the reason why I say seventeen dollars, which is the center of its profile is resistance is because it's a Barrett structured profile. So there are sellers and buyers there. But there's sellers and there's more sellers because there's sellers certainly at the top of the box at resistance level of seventeen twenty one out there. So you certainly say you're running into resistance out here. And that's what we can say with regard to the daily time frame. You've you've got these calls expire when I bought some seventeen calls that expire Friday. Friday. Now. Okay. Eighteen cents. Eighteen dollars. Okay. And then I have some they go out to the middle of December. Okay. Ron, hang on through this break. We'll come back. We'll continue looking at Barrett Gold ticker symbol G. Oh, L. D. We'll be right back. If you're not currently using the Taz profile scanner when looking at setting up your trading opportunities, then your arsenal is short a mighty weapon. The Taz profile scanner is a standalone piece of software that instantly filters over twenty five hundred global financial markets such as stocks, ETFs, commodity futures and forex. Heated by Steve Dahl, Taz 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. Also gain access to the webinar that Steve Dahl and Tom O'Brien just hosted the best way to use the Taz 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 Taz profile scanner under the services tab. Sign up today. 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. 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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 Tiger's 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 Tiger's Den are on the front page of TFNN.com. You can 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. Call now toll free at 1-877-927-6648 internationally at 727-873-7618. Folks are online with Ron in Denver, Colorado. Snowed and Ron how much snow did you guys get? We didn't get a lot only about four inches and day before yesterday and then another four inches last night. So it depends on where you're at. Got it. So that's eight inches. It went down to about minus five. Oh, hey, come on down and visit us here in Delray. It's probably 75, 85 or something like that. But hey, let's get back down there. Oh, okay. All right. Well, now's a good time. But let's take a look at bear gold. So here's what we established as we were going into the breakout here. And that is that prices trading above the daily bottom of its box above the weekly bottom of its box and that support. And those two levels are 1672 and 1668. So as long as price remains above that, I can't suggest you to go ahead and bug out, so to speak. Because, you know, these support levels may hold that 1705, 1721. Those are going to be critical areas for you. If I take a look at the daily timeframe chart using my other tools, I don't have any kind of bottoming pattern out here. All I really see is a series of lower highs and lower lows, even though it's been moving sideways for the past couple of weeks out here. So I don't see anything there. Now, with regard to time, if we look at that weekly chart here and we take a look at its sideways move last week was bar number eight of a TD set up nine count. So as long as price closes this week, below the close of well below this price, let me give you the price here. It's below 1775. You will have a confirmed TD set up nine count bottoming pattern out here. And that would be another reason why I'd say, hey, look, okay, it's Wednesday. I don't know how gold is going to react gold, the precious metal, obviously nor do I know how gold bear gold is going to respond. But I there's enough signals here to I don't want to talk you out of the trade. You know, what you're going with is a mere fact of you're taking this trade based upon not a bottoming pattern yet, but just simply based upon price moving back to key levels of support for daily and weekly. Okay. I figured gold would be the catalyst to move the stock and gold is up this morning. So I think it depends on to me near term depends what gold is going to do. Yes. So then if we take a look at gold here, what gold is doing is gold. So far what it's done it's made its move today up to Stevie's red line and that is held as resistance. Even if price got above Stevie's red line, 1509 is a key resistance level out here. So and when we take a look at the precious metal gold, it has a falling price oscillator below zero. So here's the deal. If you see gold sell off after the Fed announcement on its rates out here, you know, but get out with as much as you can. Because the chart here for gold is suggesting at 121 in the afternoon that even though it's rallied five bucks or whatever that is right now, that was nothing more than a countertrend rally up to resistance. Okay. I appreciate that very, very much. Hey, my pleasure. My pleasure. Best of luck to you. Thank you. Come on down and join us when you get tired of that snow. That was Ron in Denver. So we were going to what are we going to do? Oh, I know we want to take a look at our next question that has come in. This one coming in from Bob. Bob wants to take a look at natural gas. Bob says, I'm ready to go short. I don't think it can get through here. So if we go take a look at natural gas, oops, let me change this to the December contract out here and what's natural gas doing. So if we take a look at profiles, if we take a look at a weekly profile, Bob, you're looking at the level of $2.68. And if you see a close above that, then you really need to see some type of topping pattern inside of natural gas out here. So yes, prices made it up to a resistance level. But the question becomes, do we see any type of topping signals or patterns out there in order for you to go short? So let's go take a look at natural gas using some of Stevie's other tools out here. We take a look at the December contract for natural gas. Here's the thing that it's also doing, Bob, is even though it ran into resistance at the top of the weekly profile, that is important. Prices trading above $2.64 out there. $2.639 is the actual price using the TD set up nine count where price had previously broken down. Yesterday's close was right on that line. Today we're trading above it. I don't know what it's going to be at the end of today, but if there is a close above $263, this is suggesting to you that natural gas has a change in trend. And if we use the A to B equal CD pattern out here, like Brent and I were for U.S. silica holdings, this is a large A to B equal CD pattern out here. The one-to-one level would get us up into about the $2.86 area. That would only be one-to-one. This would be suggesting actually the A to B equal CD pattern based upon the explosive move over the past five, six days out here that price would make a run for the 305 area. That's with the daily timeframe. Now there is no topping signal. This is one of the reasons we went to take a look at this chart and say, OK, is there some type of topping signal? What Bob might be looking at is prior high out here, the so-called B point of the A to B equal CD position. And he's saying, hey, this may not get above that swing point out there. OK, so let's just say that Bob is correct in his analysis out here. I'm not saying that he's not, but if he is correct, what we should see is we should see key levels of support in short-term timeframes fail to hold as support. So those are going to be these red horizontal lines on my screen out here. Bob, we're taking a look at the 30-minute timeframe chart, the 60-minute timeframe chart, and the two-hour timeframe chart. And on the 30-minute chart, prices trading above a key level of support, that would be $2.62. Just below that is $2.60, and below that $2.55. I'd say if you see a close below $2.55, then you're probably onto something. But at this stage of the game, there's a TD set up nine count top on the 30-minute timeframe. So you can see where it's just been moving sideways out here. But what you don't have, what I would prefer to have for you to go ahead and consider a short position is to see short-term levels of support in natural gas fail. And we just don't have it as we take a look at the chart. So hopefully that analysis assists you with what you're thinking. And I certainly see one of those key levels out there, which is the weekly top of that profile, that is resistance, but still no other topping signal. So best of luck to you. Any other questions, let me see here that have come in. We do have one, but I see Ruby was the first. She wants to take a look at the December hogs out here. So let me see if we can go find that. Give me a second. I'll tell you what, Ruby, we're coming up to a break in about a minute. So during the break, I'll get all that set up for you. But in the meantime, let me go take a look at this next question that came in. This will be a little bit easier probably to get to. It's Apple. And the question here is, what do you see for Apple going into earnings? So Apple's got a brand new profile that formed today. And Kumar, that is $2.38, 238.93 is the bottom of its box. It's a bullish structured box. The top of the box is 249 out here. So I don't say I do see yesterday's bearish reversal candle. So we're going to go take a look at Stevie's other charts out here and quickly see if there was any kind of topping pattern in play as it was making that bearish engulfing candle. And yesterday was bar number eight of a TD set up nine copper right now. That pattern is going to go away. I don't see a top on a daily basis inside of Apple out here. And this suggests that price may just pull back to 238.93. Now below that, which suggests 215.13, Steve Rhodes with TFNN will be right back. 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During that break, I read Kumar's question a little bit further and so he's got some puts in this. And, you know, so, look, if you're asking, what is it that we see today on the daily timeframe chart? You know, yesterday's bearish reversal candle, key reversal candle. You know, price could easily get down to $238.93. It doesn't have to do it today. It could do it by Friday. You know, but if I look at the weekly timeframe chart, this is the one that is a little disturbing to me and is going to suggest that I'm going to suggest that you go ahead and take your profits at this stage. If we look at the longer-term or weekly timeframe chart, we can see that what Apple's done is it appears to be completing both a TD set-up nine-count pattern. In fact, it did. It already did that. Last week was bar number nine. We've made a higher high this week, but we know inside this pattern that higher high can certainly come on the bar following bar nine. But that's one pattern that's out there. We can also see the larger A to B equals CD pattern. Now, it's only Wednesday. If you're asking me to make my decision as 1.31 in the afternoon, I've got to go with the information that I've got here. And at this stage, we've got a bearish reversal candle at the completion of that one-to-one A to B equals CD pattern. And again, we won't know until Friday what kind of candle forms. But if it were to be a bearish reversal candle, that was your sell signal in April. Now, sell signal meaning price would go ahead and take its way down to the Stevie's Green Line in the 230 area right now. It's printing out at 230.56. So I don't like what I see on the weekly chart, on the monthly chart for Apple out here. It doesn't mean that these patterns are going to work. But if we take a look at the monthly timeframe chart, this is going to be or should be bar number eight of the TD Setup Nine Count out here. And price is moving higher. Do it with less relative energy out there. So rather than be safe than sorry, you don't have much time left on your hands. You say you are in the money. I say based on what we're taking a look at, go ring that register. Now back to Ruby who wanted to take a lean hogs. Ruby, my apology. I was trying to get lean hogs up on my other system so we could see if there was some kind of bottoming pattern or topping signal or anything. And I just couldn't do it. So here's the weekly timeframe chart for you. And price is trading right at the point of control. The center of its weekly market profile. That level for lean hogs for December is 64.42 out here. You're trading at 64.32. So why does it say daily? What the heck is going on here? Hold on a second. Really strange. That is strange. It's my data box. It says top D. Let me see. Let me see here. What do we got? Wow. Okay. So hold off on that. Yeah. What's happening here, Ruby? What's happening here? So I've got the same profile. Skip what we just said about the weekly, okay? Let me just open up the daily because it appears that. I'll have to go take a look at that weekly chart and see what the heck is going on. But what price is doing, still the same thing. What I was referring to with regard to market profile clearly appears that it was the daily profile. So glad that I look there. And price is sitting right at that area. This could be a level of support. But your question is, can I look at it to sell to take some profits? Thanks. This is a bearish structured profile out here. And even though price for quite a while was above that level, which is $67.27, you're now below it. You're at the area where both buyers and sellers on a daily basis believe there's fair value out here. Any significant close below this is going to go ahead and take price down to $58.72 out there. So you're in the sideways consolidation. On the short term, I don't really have anything here on the short term timeframe for you. Ruby, I wish I had more information. That's all that I've got. I give you all that I've got out there. And best of luck with your decision there as well. So let's see if there's some other questions that have coming. If not, we'll just cruise around. Stevie's charts get a feel for what the markets are communicating to us. So I don't see anything else. So what we're going to do, what I'm going to do is I'm going to switch over to the other daily timeframe charts out here. And in doing so, what I'm going to first do is we're going to take a look at, let's start with the S&P 500. So let's take a look at the S&P 500. But I know normally you and I, we take a look at the equity futures contracts. And we'll do that again. But if you take a look at, if you're wondering, is there a signal out here? Is there a signal of a top inside the S&P 500? And the answer, my friends, is yes. Yesterday was a bearish shooting star candle. And today you're getting follow-through out there. Now, the pattern that we're taking a look at is the A to B equals CD pattern. Now, this is the A to B equals CD pattern that is coming off of the low out here from, so your A point was out here on October 3rd. Your B point was October 7th. Your C point was the October 8th low out there. So it's made the S&P that is, it's made a one to about 1.618 A to B equals CD pattern. And so in this case here, you've got a topping pattern inside the S&P 500. So what Stevie says at this stage is I would not be surprised to see the market sell off after the Fed announcement, not necessarily right after the Fed announcement by the end of the day based upon the topping pattern inside the S&P. If we take a look at the Dow, the Dow is up 8 points right now. What's the pattern inside the Dow? You've got a Gertley cell pattern. That bearish reversal signal pattern out here has not been taken out. So we do have a active Gertley cell inside of the Dow, Jones Cash, indices out here. If we take a look at the NDX100, we were just looking at Apple that said caution. Well, the NDX100 completed a one to one A to B equal CD pattern. When I say completed, it's because of yesterday's bear sash candle. So you do have a topping pattern that is in play inside the NDX100. Now this may just push price back to 79.85 as you're next by the dip because that's Stevie's green line. You'd like to see price close below that to confirm some type of top out there. But nonetheless, you do have a completed pattern. How about in the Russell 2000, cash in to see out here, what did price do? Price yesterday got right up to its breakdown level of 15.8130 and since then has sold off. Does the Russell 2000 have a topping pattern? And the answer, my friend, is no, it doesn't. Not like an A to B equal CD. Not like a TD setup nine count. Not like a wave number seven out here. But price did hit resistance in essence to the T and is sold off. And so that alone could say the end of the countertrend rally is in play for the Russell 2000. So we can go with a checkbox that says, yeah, the Russell 2000 has indicated atop. Now let's take a look at the transports out here. Having a horrible day. What did the transports do? Well, they did not complete an A to B equal CD pattern because there was no bearish reversal candle yesterday. Today is a different story. Today is a gap to the downside. No, this pattern here, the A to B equal CD pattern I'm looking at out here. This is probably like a one to two or beyond that. That would be a one to two point six one eight one to pie out there 314%. That would be the only A to B equal CD pattern that I could draw for the transports. But today is generating its bearish reversal candle for it. So now we are basically what five for five out there. Let's go take a look at the socks and looking at the cash indices out here. If we take a look at the socks, what did it do? So it didn't completely get up to the one to one price projection. That would have been 1716. That's what we're looking at. And now we have a bearish and gulping candle yesterday bearish and gulping candle. This qualifies for Stevie as a sell the D points. And now what the indices have done, at least the cash indices, they are six for six. And we could go on folks. If we take a look at the Wilshire 5000 out here, the Wilshire 5000 today appears to be confirming. A sell the D point of the A to B equal CD. Is there a top out here is the question? You tell me. What do the cash indices tell us? We'll be right back. The interest paid is 7% yearly paid on a monthly basis. According to bankrate.com, the best rate for a four year CD in the country as of February 20th is 3.1%. A $50,000 investment at a normal four year CD rate of 3.1% would give you income of $1,550 per year or $6,200 over the four year period. 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Don't forget, you can listen to TFNN live on your mobile device 24 hours per day. Go to TFNN.com and hit Watch Tiger TV. That's TFNN.com and hit Watch Tiger TV for the latest market information. Back up folks, so the question that John and Tiger's done was actually asking was about ticker symbol, not the actual equity markets, ticker symbol T-M-H-C out here. That stands for Taylor Morrison Home Corp out there and the question is, is it a major top? Now, let's send gap down today. Good volume behind it. So far about 2.5 million shares out here. Price below the daily profile, above the weekly and above the monthly. So this will be support levels. Those being 2299 and 2076. In order for us to say there might be a major top out here, we need to see some topping signals and patterns on the longer-term chart. So let's go take a look at the monthly timeframe chart. Let's work monthly go to the weekly and voila, we take a look at the monthly part, monthly part or chart, but it's really the chart we're looking at. What we can see is we can see that last week was a confirmed TD set up nine count and now price has sold off. We can also see that that nine count pattern has been confirmed right where you had breakdown resistance 2592 very much like what we just looked at in the Russell 2000 cash in to see out here. Now the Russell 2000 did not have any type of other topping pattern just simply price getting up to resistance. So here you've got a valid topping pattern. John, the first conclusion that we would draw here is when you see these topping patterns is sellers should be able to push price down to support. So the level of support inside the monthly timeframe for TMHC is going to be 2163. 2163 is above the top of that weekly profile which is 2076. We say 2163 because that is Stevie's green line at this stage. Now obviously as price moves up or down and or sideways out here, Stevie's green line number will change but so roughly the 2160 areas where price should move to next out here is at a major top. It's a significant top that's for sure. It ain't no bottom. We know that and because it's got a top and you're at a prior high just short of a prior high out there, worth noting and paying attention to. Let's go take a look at the weekly timeframe chart out here. What the weekly timeframe chart for this equity for good old Taylor Morrison home suggests. Well last week happened to be a TD setup nine top out there. Price is already below Stevie's green line so the weekly chart is really confirming what you and I just discussed on the monthly timeframe chart is that price should have lowered. Now the weekly timeframe chart says 2277 is its next price target. That is where price broke out using that TD setup nine count. If price closes below that what it does is it adds to your case that this is a major top out here. That's what the weekly timeframe shows the daily. I can just see simply by looking at the daily timeframe chart out here. It's going to be hard to I did unless there's a TD setup way. Count out there. This thing has just been a huge stair stepping program. There is an A to B equal CD so let's go draw that what let's go see what that would look like out here and we can see the bearish reversal. Well a number of A to B equal CD patterns. So instead because of all because of all that let me just look at the weekly the weekly A to B equal CD. Look there's A to B equal CD patterns out there. So we don't we don't need to go through this exercise. You know just be futile today out here. So hey the answer to my the answer to your question isn't a major top it's a top it's a top on the weekly it's a top on the day on the monthly chart out there and this suggests that Taylor Morrison Home Corp has got further to go to the downside so hope that that answers your question. Let's go to our next question out here and folks really thanks for for sending these email requests or calls like Ron from Denver John and the Tiger Zen Ruby and the Tiger Zen it just makes the hour well first it goes by very quickly but then it's also just so helpful to you I think and others out there because we get to look at all these different charts and things up about that the World Series Game 7 tonight you got to love it you've got to love your sports enthusiast there's nothing like Game 7 doesn't matter whether it is the Stanley Cup or the the World Series the you know Game 7's they're a beautiful thing but the next question so I don't get to sidetrack because I could get sidetracked as you know Dennis G writes and he says earnings after the close today for universal income it was 1130 right it was 1130 and it was only the seventh inning six or seventh inning it was a school night we got class in the morning folks out there but so I prefer it to not be you know extra innings because once you're in you're in you know what I mean whether it's still one o'clock in the morning you know what I mean whether it's still one o'clock in the morning or what have you and then even what Dennis is asking about is O-L-E-D and he's in the money which is a beautiful thing he's asking should he take profits out here well here's what we know about universal display at this stage of the game at this stage of the game price on a daily weekly and monthly time frame are trading in between their TAS market profiles the daily resistance level is 184 year 172.42 we'll get up to the top of that box out here the weekly is a nice bullish structured weekly profile we're going to go check see if there's any bottoming signals out here to help Dennis answer that question with regard to hey what's O-L-E-D going to do after the bell out here and as long as price stays about 165.23 you're okay now you're in the money I don't know if that means you've got call options I don't know what you've got doesn't really matter out here so with regard to O-L-E-D all that talking I forgot to put the symbols in on the other charts out here let's go look at the daily time frame see if there's any other signal that you and I can find on Stevie's Ninja Trader charts out here all the other tools and so when it made a bottom I don't have I don't have an effective bottom that I like to see out there there was a TD set bank out but the low came in on bar number seven so I'm hesitant to call it a bottom out here and this looks like price just simply moving in between support and resistance with support at that 160-46 resistance like we talked about at the 180-15 and then even more resistance up at 180-261 that is where price broke down on its TD set up nine count so you're close to resistance again I don't know your timing on this when this made its high out here O-L-E-D and this would be helpful to you Dennis it did it with that Rhodes momentum indicator pattern out there price movement that you're doing less well than the years you're shooting star that was the week of the day of September 7th the following day follow-through on September the 10th that created a bearish engulfing it created a three river evening star so it told you prices were headed lower we don't have that same pattern in the opposite direction now telling us that prices are headed higher it's not that they can't but you are up near resistance and if you're and is there a tell there's no tell right there so there's no tell and that's what we look for our tells is there a tell on the weekly basis well let's go look at it on a weekly basis this is a perfect example of utilizing the support resistances breakout support breakdown resistance areas if you take a look at what happened on a weekly basis also confirming a Rhodes momentum indicator top of what did price do sellers were able to take price right back to support where was support support was 165 36 as price got down there this is the week of the week of the week of October 4th a nice hammer candle so this is suggesting that price could bounce to 191 40 that's on a weekly timeframe I don't know if you have the time to sit that one out and on a monthly basis here's the problem with O-L-E-D last week well it's not a problem and I'll explain why we come back from this since 1984 Bazel Chapman has been using the Chapman wave methodology to advise traders of his expert market opinion well originally hand drawing charts from the late 1970s into the 1980s Bazel noticed that prices under most circumstances virtually always had a certain number of legs to the upside before declining sharply later Bazel found that computer software which included the standard market technical indicators enhanced the degree of accuracy and calling price returns as well as market trend calls thus was born the Chapman wave sequence using the Chapman wave methodology along with other indicators Bazel Chapman advises his subscribers of his expert market 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out there again I don't know your time frame so I don't know your time frame I don't know if it's a call option expires in a couple of days so it makes it even more difficult for me so hopefully that helps you out try to be as much help as I can I do see a bottom on that weekly time frame though and that would be a key area to watch so as we go into this last minute here folks as you know the feds going to come out in roughly about five and a half minutes or is going to tell us what they've decided I don't have a real so the tells in the market you and I went back and we were going through each of the cash indices out there we have not take a look at the equity futures contracts out here but in the cash indices all kinds of tops you and I looked at them I don't have that by the way inside the ES mini so we got a conflict out here so the equity futures contracts are not showing the topping signals not true with ES mini but with regard to the ES mini and the NQ it's not there and maybe today is lower low and we get a higher high tomorrow the next day creating wave number seven that would be letter G it's possible that there's native equal CD to the upside 3105 so if there's a tell out there it's coming from the cash indices and if there is a tell that there's a change in trend out here one of the things that we will see is we will see levels of support on the cash indices and inside the ES mini was already tested today and that was at 3025 and that held likewise resistance is held and that's 3037 to 50 that's your sideways market I don't know which way it's going to move but if it sells up it will not be a surprise based upon the messages from the cash indices folks thanks so much for being here look forward to seeing you on trick or treat Thursday I'll wear a costume don't worry