 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 morning folks, welcome to the February 5th, the magnificent Monday 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. Now 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 2x4 shift, well it means we can find the gift and every set of circumstance that life is going to toss at us. 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 am absolutely grateful for your presence here, but even more important than that. And that's this, during this next 53 minutes I am here to serve you. So feel free to pick up that phone. I'd love to hear from you. 877-927-6648 is the number to call in now. If you've got a question but you can't call in, we've got you covered there too. You can always send me an email. Send that off to Steve at TFNN.com and inside the subject heading if you'd be kind enough to put radio show question. Of course if you're inside the Tigers then well then any and every ping will do. So let's go ahead and get this show started on marvelous, magnificent Monday. Of course this is Tiger, Financial News Network. I'm Steve Rhodes. Welcome to the show. Right now we've got almost a sea of red out there. The only thing that is green is spot volatilics, the semis and the healthcare sector, the XLV. You've got the Dow down 379 points, S&P's off 29, NASDAQ 101.17, Russell's down 36, Trendy's off 161. You've got the gold trading out at 2035, that's off 18 bucks, Silver's down 36 cents, trading out at 2043. Lights recruiters off 50 cents at 7178, natural gas down at penny at 206. 30-year treasury's printed out at 1202, that's off nearly two full points out there. Leading to charge, dollar-wise to the upside. We've got super micro computer of 46 bucks, 8% elioly, 40 bucks, 6% Idex Labs, 31 bucks, 6% ambidea, 21 bucks, 3% ST Lauder, 18 bucks, a 13% move there. The shakers to the downside is led by air products and chemicals off 39 bucks, a 15% move there. 3% for deckers outdoor, $29, QALIS is off 20 bucks, 10% in Humana, 16 bucks, 4.5% in Regenerent, 13 bucks. That's about a 1.5% move to the downside. Of course, I want to look at what you want to look at. What do you want to look at? Let's go begin our day by taking a look at the equity future contracts. Let's do it a couple different ways. Here's the daily equity future contracts that we're looking at. Well, we can see out here the ESMini on Friday negated a roadsman to indicator top. Needs another bearish reversal candle at the moment. It's a bearish sash candle. I have no idea what the candle will look like at day's end. If it's not a bearish reversal candle, it price remains above the top of that profile. That is support right now, $49.39. That's even active as support this morning. We've gotten down to $49.37.75. Closed below, getting back inside that profile would then open up the other profile areas and that's at $48.84 to $49.02. The end queue still retains its roadsman to indicator top. Has not taken out, what I mean taken out, close above $17.793.50. That's the roadsman to indicator top signal. That's a bearish shooting star. Get it closed above that. We had higher. Right now, prices back inside its profile levels are closed today below $17.683. Could bring the $17.351 to $17.462 area into play. In the case of the Dow, the Dow on Friday negated a TD-9 count top, negated a roadsman to indicator top, a bearish reversal candle today. Right now, you have a bearish sash candle as well. Would then go ahead and confirm another roadsman to indicator top. Price remains above the top of its daily profile. That would be the level of support on a downside move, $38.050. In the case of the Russell 2000, it looks like it wants to go target. It's lows from 2024 so far, the lows. That's at $19.0480, prices trading inside that swing point. That swing point we take a look at a daily timeframe is a swing point from January 17. So that's what's going on. We take a look at the daily equity future contracts priced in US dollars. We take a look at what's going on around the globe. We'll see where the new all-time high today, the ESMini priced in euros. New all-time high today, ESMini priced in pounds. Not so much in Yen just yet. Yen has made a new all-time high priced for the NQ today. Same thing with British Pounds, same thing with the Euro out there. So that is awfully strong. In the case of the Dow, new all-time high today in terms of euros. In case of British Pounds out there, close but no cigar in terms of Yen. The point of showing you this chart is that traders in those countries, they're thinking bulls out here. You are new all-time highs and they are loving it. So you've got a global flow of capital that's concentrating here in the US that ought to make any declines somewhat limited. Doesn't mean we can't get normal declines out there. But what we're competing against, you've got really two currents out here. You've got the US current that says, hey, I want to come in the shore. And then you've got the international current that says, hey, we like swimming out to another island out there. That's what their intent is, at least as of this morning. Let's go take a look at the weekly time frame. In fact, to do that, let's go switch panels out here. Let's go over to the white set of charts. We'll have both the daily and the weekly up there. Sometimes that can give us a better overall view of what we're looking at. That's not the chart that you have up on the screen just yet, but you'll have that here momentarily. And that is daily and weekly. So you can see on the weekly charts, that's a bottom panel out there. We don't have any kind of tops really anywhere, forgetting about the Russell 2000. I'm really focused on the ESNQ and the Dow. If you take a look at that bottom panel, it negated a TD9 count pattern. Weeks ago, we're above profile, above the green asset and change line. It simply is bullish. The same thing is true with regard to the NQ, although it almost looks like a shooting star. Not too much of a wick at the bottom. So it remains bullish. It's above all profile levels, above that green asset and change. Now, on any pullbacks out here, those weekly asset and change lines become the real downside price target. That's assuming there's no daily profile levels below where we're trading out there. So that's not what's in play as we speak just yet, but there are levels to watch on a move low. If we take a look at the Dow, the Dow also no topping patterns, no topping signals out there. It's level of sport. I think we've covered it on the weekly basis. We're at about 38, 113 out there. So the weekly charts for the ESNQ and the Dow are just simply strong, very bullish signals out there. Each of those are in a breakout, bullish, bold, bullish, bullish, bold. That's pretty smart. How about a bullish mode signal out there pattern? All right. So we've got that. What else do we want to take a look at before we go to break? What's to take a look at the other side of the market? Let's look at the bearish side, if you will. The bearish side of the market or maybe from the daily timeframe. I set a charts out here. We go take a look at that. Advanced decline oscillator for the New York Stock Exchange. Turns out we're getting very close to the oversold level. We were not too far from this level back here. We saw that nice bottom back on January 17th. And you get to oversold with that indicator. It gets below minus 150 or minus 137 as we speak right now. So further flush in the markets to the downside ought to get that into oversold conditions out there. That's kind of interesting. Just what we're looking at is really a one day pullback as we speak right now. But nonetheless, that's something to be paying attention to. But as we speak right now, it is sellers that have control of the market with that indicator. The same is said about the VIX index here. The VIX right now trade them up is 50 day exponential moving average. That's a lower left hand chart that you're looking at. The spot VIX moving average 50 days at 1366. We're printing right now at 1425. That says that sellers also have the upper hand here. Steve Rhodes with TFNN. We'll be right back. If you're looking for potential trading setups in the stock market, then Rocket Equities & Options Report is a newsletter you should try. Tommy O'Brien delivers options and equity trades when the markets present them using a combination of fundamentals and technicals. Sign up for Rocket Equities & 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 Basil Chapman, the 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 Basil 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. Well now, toll free at 1-877-927-6648 internationally at 727-873-7618. Folks hope everybody had a great weekend out there. Crazy weather going on across the country. You got to take a look at that weather in California. I know they're trying to finish the Pebble Beach Pro Am Tournament today. I think it was 55 degrees and raining as we speak right now. That's pretty uncomfortable temperatures to play golf. And we had some crazy weather here. Friday, Saturday was the nicest day of 2024 that we've had out there. I was able to get out and play my first round of golf in 2024. I've been dealing with a real bad back problem. I fell when I was in Japan and just really, really torqued it. And it's been a struggle to get it back to normal out there. And then yesterday, kind of like things fell apart for about three hours and then it turned out to be beautiful again. So crazy weather out there. But let's go take a look at our first request, folks. That's from Duncan Steve inside the Tiger's Den. Let's take a look at Marvell. MRVL is the ticker symbol out there. And we take a look at it. There is an A to B equal CD to the downside pattern. Now the one-to-one price projection for you on Marvell. Not too far away from where we're trading. 6501, we're at 6618 out there. You can see that bar number eight is also forming today, Steve. So what is needed here? There's a couple of things that are needed. First of all, bar number eight is really going to complete. Bar number nine, in order for it to complete tomorrow, needs to be a close below the close of bar number five. That would be at 6770. But what it also needs tomorrow or the next day is a spike below the low from February the 1st. And that February the 1st low is 6551. If you were to get that, then you could see a TD9 count bottom pattern formed between today. You've got to get those things take place first though. That's part of the formula. Then you could see a bottom unfold between today and Wednesday out there. So you want to look for that. Now that one-to-one price projection is 6501. If price gets down there, there's no reason to think that it won't. By the way, this A to B equals CD pattern. That B point, Steve, was not passed with volume. The B point out here I think was 14 million shares. When that was passed, it was passed with 10 million shares. The next day was 11 million shares. The next day was 11 million shares. Today so far it's two million shares. So it has been passed with volume. That's a net positive, but you still need some type of pattern to form out here. If you're looking for some type of buy entry signal out there, so short of that, I would just be patient out here. If you get to that A to B equals CD pattern without a TD9 count, then you're looking for a bullish reversal counter to confirm that bottom. We take a look at the weekly timeframe chart. Roadsman to indicator top price right now might be C or should seek out support. There's two levels of support on the weekly timeframe, Steve. Those are at 63.21. That's the top of its new weekly profile out there. The fact that that profile formed below price is a bullish message. And above that, you got the A to B change line currently printed at 64.22. The monthly timeframe chart last month ran right up into resistance at its TD9 count breakdown there at 73 bucks, but you're trading above its green A to B change line and the top of its profile. It's really signaling to you and I. It really wants to try to bust out above that $73 area. But first things first, you got price below profile levels on the daily and A to B equals CD pattern on the downside and confirmed top on the weekly chart. So you're looking for price to get back to support or form a daily bottom pattern out there. Steve, oh, that is what I see when I take a look at Marvell. Hope that helps you out. You also had a twofer wanted to take a look at the SMHs out there. The SMHs, you're trading above Friday's high. That's a bullish signal. And on a daily basis, price is trading with inside its daily profile. It's a bullish structured profile. Price should go target that 19590 area. That's the top of the daily profile. I do not show a, well, I take it back. I see a sell the D point pattern that had formed out here. That formed back on the trading day of January the 26th out there. That pattern has now been negated because that gap has been closed or appears that's going to be closed as we speak today on a weekly timeframe. SMHs are bullish. They're above profile levels. They don't have a topping, a confirmed top or anything. They're above the green ossiter and change line. Things look very good here. And on a monthly chart for the SMHs, they look very bullish as well. They negated a TD9 count top a couple of months ago. So everything looks good there. You've got a confirmed sell the D point on the daily timeframe. However, that's being negated today. So no more topping pattern here on the daily chart. And what we do have is a consolidation with inside his profile. So Duncan, I hope that helped you out with the SMHs as well. Let's go to our first caller. It is Ron in Denver, Colorado. Ron, thanks for calling. Thanks for holding. How are you today? Great. Great, Steve. Thank you for taking the time. My pleasure. I bought about 5,000 shares of GRRR Gorilla Technologies a couple weeks ago at around 51 cents. This morning they brought out some very super numbers. Their revenue has exploded. Earnings before taxes jumped up. I just wondered, at what point do I start bleeding off some shares? Good question. So at the moment right now, Ron is singing a dance in the happy dance out there. It said quite a move today with some big volume behind it. So it's gone from the start of the day or it got down to low 61 pennies, open to 62 right now trading at 98 cents. That's a big percentage move, isn't it? Yes it is. Of course in July or no April or so it went up to six bucks and came straight back down. Yes. So I don't know what this maybe if this was a reverse merger or something because they actually show a high of $51. No, I think it was just numbers. They came out with super numbers. They did some successful data collection using AI with the police department in London. They've had some real good success in London and Egypt and their numbers came out really nice and they've got a 76% profit margin. Well, that's a beautiful trend. I don't know, we'll see. But I just wondered what target would be the first place that people want to bleed off some? Yeah, so that's a really great question. What I'm going to have to say so it's got a nice bottom out here. This bottom was a nice TD9 count Rosamund Dominicator. I even see a wave number seven bottom. So it got all of them. And today right now this thing has crushed through a couple of different TD9 count breakdown levels. So we'd love to see this day above 85 cents today. Assuming that it does, I don't see any reason why it shouldn't. The next area of real congestion that you get to is the day of September 20th. And on September 20th this gap down was 6.5 million shares. Now you're up with 45 million shares today. But that's really the first area of resistance out here. What was the price of that date? Well, so the range would be from here. The high, then being the high of that day was a buck 23. And the low of the prior day was a buck 41. So that's really kind of a potential turbulent zone. In other words, Ron, maybe you haven't been there. I've been there. You know, where you buy on, let's say in this case here, you had people buying on September 19th, the very next day it gaps down with some pretty decent volume out there. And those people were trapped. And as that thing got down to, you know, 40 cents or what have you, those folks were saying, shoot, if it ever gets back here, I just want my cash back. And that's why that becomes a potential zone. I've been on that tune many times. Yeah, so not necessarily where you would want to exit. Because this thing's got a nice bottom on a weekly basis. If this can close the week above 81 cents, the weekly signal is telling you that you've got a real nice change in trend. So, you know, I guess my question, if I did, if I asked it already and I forgot the answer, I apologize. But when you got into this trade, what was the intent? I was waiting for some very good news because I thought what the company's doing, I really think they've got a chance to make a mark. It's so international in what they're doing. I just, I thought I had a chance to come back around two bucks. Okay, if you have any hesitation, I'm going to give you the best trade advice that Tom O'Brien could give you. Go ahead and cash out and get your principal back and let the rest of it ride. Ride Sally Ride. Ron, congratulations on this trade out there. And I'll look forward to seeing you again. All right. Gold 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 O'Brien 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 O'Brien'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 in technical market analysis, and it's not just dry, tedious text, either. 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Join us live Monday through Friday during market hours for exclusive content that moves with the markets. At TFNN, we bring the trading floor to you. Our seasoned hosts are here to answer your calls and questions live on the air. Check out the Tiger's Den for just $1 and follow us on YouTube and become part of our vibrant community. And remember, at TFNN, we're so confident in the value we provide that we offer a 30-day money back guarantee on all new premium newsletter subscriptions and services. You have absolutely nothing to risk. So why wait? Tune in live to Tiger TV and transform your trading journey because when you know better, you invest better. Join us and experience the difference today. TFNN, educating investors. That's TFNN.com. And hit Watch Tiger TV. Folks, so Ron was asking a great question and I don't have those charts being shown that Gorilla GRR out there. And it reminds me of that book, Reminiscence of a Stock Trader. In this case here, Ron may have the entry price that we'll never see again. So he was potentially thinking long. He was looking for some good news. Boy, did he get that good news today out there. But never a bad idea. At some point in time to get your principal back off of that trade and just let something ride, especially when you've got some confidence inside the company and the technicals are supporting that idea as well with regard to what shareholders are thinking. So I do hope that that helped you out, Ron. Let's go to our next question out here. This is coming in from Dan inside the Tiger's Den. Wants to take a look at some of VFC that is VF Corp out there. So on a daily timeframe, I'm going to switch charts. I'm going to take a look at the daily timeframe. I'm going to switch screens, what I should say. I see an A to B equals CD to the downside. Looks like maybe 1 to 2, 1 to 1.618. It was this bullish hammer candle back here on the trading day of January 18th that confirmed that pattern. Price then rallies from there. It's above, trading above all kinds of resistance. Profile resistance, I should say. Had been above, it's also done changed. But right now it's below it. And you start closing below red also to change line. That tells you market conditions and price offsetter below zero. It opens up the door for potentially getting to 1564. So here's how I would say on the daily timeframe chart. As long as price remains below that red offsetter and change line, 1564 is a potential door for price to go target. I say potential because what I want to do, and you can put this on your chart too, Dan, and you probably already have it on your chart. We'll also go change the screens out here. And that's going to be the rising and falling trend line. So just clear rising and falling trend lines that price is trading within. So not only is that 1564 level, it could be just a tad lower than that with regard to that rising trend line. So that's what I see with regard to the daily timeframe. If we look at the weekly timeframe, it looks like you just have a good old fashion consolidation. No, I take that back. It's trading below the bottom of its bullish structured weekly profile. That bullish structured weekly profile supported at 1721. So that says 1551 may be the target. So then we've got rising price channel. You've got 1564 as a profile level and 1551 on the weekly as an oscillator and change line. And on a monthly timeframe, price made a move to where it would find, where a counter trend rally would end, Dan. And let me just expand out the chart and explain that. So if we take a look at VFC, VFC was trading below the bottom of its bullish structured monthly profile for two consecutive months. Those were October and November of 2023. Then in December of 2023, we get a nice little rally here. Where's that rally run into resistance? The center of that bullish structured profile. The center level is where you typically find, if it's only a counter trend move, where you find those moves will end. In fact, that's what's taking place here thus far. And we've seen price pull back. And you are below the bottom of that profile as well, the monthly profile. So that's what's taking place in the game. It looks more likely than not, VFC wants to trade lower before it finds that next potential level of sport. The rising trend. I've seen the chart. Oh, shoot. I thought that I had the blackwood. So you see those rising trend lines. Okay. Sorry about that. Thank you. Thank you. Thank you. Let me move back over here to the white. Let me expand this out. That's the end. Oops. On the second year. Pull this back. You can really see it right now. You can see that bullish structured profile. That bullish structured buy zone was in 1852 to 2027 level. And right here in the month of December, price gets right up there and it starts pulling back out here. So I would and we're trading below profile level. So the monthly, the weekly and the daily at this moment in time, 1134 the fifth out there is suggesting lower price. So that's what I see. We take a look at those VFC charts. Hope that helps you out. Phil wants to take both Goldilocks and Silver. So to do that actually, and hopefully I remember to do this, I'm going to switch screens again though. And so just so you can see the rising and falling trend lines, both Gold and Silver have them. They're not going to be on this chart, but they will be on my market update charts. We'll just simply expand those aren't here. You can take a look at the daily timeframe for Gold. You can draw these trend lines in yourself. I'd suggest you draw these trend lines in. Will Gold hold here? I do not know. But I just want to first make sure that everybody understands Gold is trading into potential support while the U.S. dollar is targeting potential resistance up at 104.66. In the case of Silver, Silver is trading into profile support and that's down at the 22.37 level. And if Silver closes below that or moves below that, what we have here is rising potential rising trend line support. So the first thing is this system, my eSignal system, I've got an automated tool that picks up those trend lines, makes things easy, peasy for Stevie. I don't have a similar tool like that for my trader charts out there. And then we give us different pieces of information. So on the daily timeframe now is we take a look at those white background charts. You already saw the black background. We're trading below profile support, but again running into trend line area. In fact, the trend line fails to hold the support. The question should be, where is price headed to? I would say it's headed to 2001-30. That's the daily timeframe. Weekly chart would say it's headed to 2003-10. And that remains in effect as long as price remains about 20-58 out there. So that's what I see when I take a look at the daily and the weekly charts. On a short-term basis, 30-minute timeframe chart has a roadsman to indicator bottom. Price was stretched to the downside, and the reversal candle price right now is trading above the top of its profile. This is a 30-minute timeframe that we're looking at. It's only 11-36. But a 12-noon close above 20-37-70 would suggest at least getting back to its recent highs up in the 20-44-50 level out there. Did I change screens? I did. Oh, good. Stevie did that. At least I got that one out of my system. So we know that we saw Gold fill with the trendline support. Got a 30-minute chart that's also found a bottom at the same time, but that was unfolding here. So continue to watch that 30-minute timeframe chart for additional signal information out there. I hope that that helps you with regard to Goldilocks. Now let's go take a look at Hi-Ho Silver. If we take a look at Hi-Ho Silver out there, we can see we already talked about profile support where it's at right now. Trendline support, which is now just a bit lower. The weekly chart says, hey, I'd like to go back 2163. Monthly chart, we don't have a data for the March contract in order to generate any kind of profile information, so that's not really assisting us at this stage of the game. Let's go take a look at an intraday chart for Silver as well. And here we take a look at the 30-minute timeframe chart fill. What we don't have is that confirmed bottom. We have that with regard to the most reversal candle inside of Gold. We don't have a similar candle formation inside of Silver. Price right now is trading below that red oscillator change line and the 30-minute timeframe. That oscillator change line is currently printing at 2238. So close at 12 noon below. That's going to suggest you go test the morning lows. And of course we know that below the morning lows is that rising trendline support. That's what I see when I take a look at Gold and Silver out there. Of course we probably have to take a look at the U.S. dollar index to kind of get a feel for what's going on there. And of course you know that what we like to do during this hour is to take a look at the euro, the yen and the pound. So hopefully we'll get a chance to do that but I've got a couple of other requests in right now and I want to go ahead and get to those. And this one coming in from 777 Jack. He wants to take a look at GCT out here. Let me make sure I'm on the right screen. We are and we're about to go to breaks. Let's do this Jack. We'll take a look at GCT. When we get back from this, we'll get back from this commercial break. We'll be right back. 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For all the details and to start your 30 day Tiger Forex report subscription today visit the front page of TFNN.com TFNN Educating Investors Everything in the Universe is governed by the Fibonacci sequence. This mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market. To stay on top of stock patterns you can take advantage of sign up for the Fibonacci 24-7 newsletter at TFNN.com When you subscribe you'll get a weekly report from veteran day trader Larry Pezzavento on stocks you need to pay attention to and you can trust Larry's analysis. After all he's got 45 years experience as a day trader. Larry will also provide daily charts, videos and data on the key markets that he's tracking. Expect notifications from Larry on market movement you need to act on at any time. First time subscribers also get a 30 day money back guarantee. 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Distributor and head fund services LLC This program is brought to you by Vista Gold Traded on the NYSE American and TSX under the symbol VGZ If you're interested in the Q right now would love some more so if you're inside the Tigers in please feel free to add a few or give me a call at 877-927-6648 you may even be able to get an email in if you can squeeze one in Steve at tflan.com But right now we're taking a look at the charts here for giga cloud technology this is for 777 Jack out there either loves James Bond or playing that one-armed bandit out there perhaps it's both but if we take a look at giga cloud what do we know it's got a daily TD9 count top it confirmed that pattern and a Roadsman Dominicator top that confirmed that back in the early part of January on the 10th now that high it's also got a wave number 7 top that high is going to be your real key level of course Jack you didn't need me to tell you that that high out there but I am telling you that that high is at 2645 volume there you've got 7.9 million shares in the daily time frame today you're up with 1.5 a couple hours of trading so you're moving up with lighter volume nonetheless that's your top you close above that high again that high is 2645 giga cloud we'll start heading further to the clouds but right now you've got a daily top you do not have a daily top on the weekly time frame the weekly time frame negated its TD9 count top it did that a couple of months ago back in or a couple weeks ago back on January the 26th we look at the monthly time frame chart TD9 count top completes this month we're going to go ahead and switch screens out there so as that is taking place out here and this is kind of interesting those of you that are fans of Larry which basically should include everybody Larry would be looking at this chart and saying what look at that bounce now I don't have any idea that this trade up to 62 bucks at some point in time during the month of August out there was this a reverse merger and you know I'm assuming right now that was real trading out there of course that's a stinker somebody bought this at 62 bucks and this thing got down to $4.14 but if we go from the high to the low what you'll see on that monthly time frame at the same time that we are getting a TD9 count on the monthly you're up at that .382 retracement level usually it's a floor it's a floor on the elevator where people would get off of that train now of course they've done that on the daily time frame chart so you have seen a bit of a of that move lower but let's come back to the white background screens out here and see if there's anything else that I can assist you with and I'd love to say yes so you got to your trade look it's I would say that the high that TD9 account high is very likely to get tagged even with lighter volume and the reason is because what we're taking a look at is prices above its green oscillator and the top of its daily profile those are bullish conditions they got bullish on the daily bullish on the weekly they're still bullish on the monthly chart except you're getting up to you've got a couple different types of topping patterns out there so I hope that that helps you out Jack and thanks so much for the request I'm not sure if this was a request or not it might have just been a question beside the dead but Stevie's going to take it and that's a take look at ticker symbol CBM and the question was is this going to 308 and then 322 so I wanted to be able to share with that individual don't recall who it is I just wrote it down that you've got your resistance level at the top of its daily profile which was tested and rejected this morning and that's up at 296 now you've got new support which is the bottom of the profile at $2 and 62 cents so watch those two areas a close above 296 is going to suggest you get back to the you get back to test its highs now there is an A to B equal CD pattern the B point out here is from a trading day of November 15th 644,000 shares that were that were traded that day it was passed on December 26 December 26 it passes it with a B point I pass it with volume that's this candle right here out here and so you've got a confirmed A to B equal CD pattern the upside that confirmed price projection is four bucks even Steven that's the one to one that's the initial price projection level out there however we take a look at the weekly time frame chart we can see that sell side corp is struggling to clear its TD 9 count breakdown level that's at 299 and even if it does that what we've got is resistance on a weekly TD 9 count so in order for this to truly get its momentum to the upside you need to see a weekly close above the level of $3.23 but we can say here daily we're up at resistance 296 weekly we're up at resistance 299 those are areas you're looking for it to clear and if it does clear those areas then we're back up towards those those highs if it can close above that weekly TD 9 count then that A to B equal CD to $4 is likely in the cards out there so whoever requested that I hope that that assisted you with regard to at least knowing where those profile levels and other resistance points are at if I didn't see earlier can we take a look at Alcoa absolutely I did not see it so thank you very much for the for the follow up on that and can you check out Coa Alcoa is down today it is down today what it's doing is testing a key level of support and that's the bottom of that bullish structure daily profile so as we open up that chart we can see that the buy zone for Alcoa is between 2693 and 2751 out there what price needs to do now trading into a swing point the potential B point of an A to B equal CD to the downside that's from the trading day of January 19 6 million shares traded hands that day so far we are down with 3.7 this has got the volume as opposed to that area however the buyers are lined up those buyers they are lined up between the price point of 2635 and 2693 you close below that 2635 level that's going to generate an A to B equal CD to the downside with or without volume out there and then you've got the next level of support would be down at 2389 the weekly chart for Alcoa if you close below this red oscillator change line likely pulling back into its buy zone the buy zone between 2492 and 2605 if we take a look at the monthly time frame chart you've got a nice td9 account bottom price also pulling back to its buy zone and that's between 2458 and 26 hold on sorry about that it's between 2458 and 2761 so that's what I see when I take a look at Alcoa it's trading back into support if I break those support levels we could be looking at a further move lower let's go out to Philly and speak with John John thanks for calling thanks for holding how are you today Steve I'm doing very well thanks for taking the call and appreciate your help I want to ask you about soybean futures specifically Steve I wanted to ask if you could help me now and in the next days and weeks please with the new crop soybean futures that ticker symbol is Zebra Sammy X-ray 4 ZSX4 yeah Steve just to let you know here I've spoke long enough to know that this time of year coming into late winter as South American harvests are just getting under way and we're in advance of U.S. planting season if a crop futures contract is in a bear market making lower lows I'm always in those instances doing bottom probing buys and such as the case with this contract I'd like to ask if you could tell me the details of your work on this and ask you a personal favor and that is to track this in the coming days and weeks to see if in fact we do carve out a bear market bottom perfect okay I'll be happy to do that we're going to the break here I'm happy to go through the charts I don't know if you're going to hang up or stay on remember soybeans contract well I'll keep an eye on it for you as well over the coming week and we'll reference it during the show so folks stay tuned we'll be right back we'll take a look at soybeans for John in Philly we'll be right back 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 to predict this 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 Basil 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 and values in stock prices get the opening call newsletter by Basil 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 everything in the universe is governed by the Fibonacci sequence this mathematical principle is responsible for everything from the most aesthetically pleasing artwork patterns in the stock market to stay on top of stock patterns you can take advantage of sign up for the Fibonacci 24-7 newsletter at tfnn.com when you subscribe you'll get a weekly report from veteran day trader Larry Pezzavento on stocks you need to pay attention to and you can trust Larry's analysis after all he's got 45 years experience as a day trader Larry will also provide daily charts videos and data on the key markets that he's tracking expect notifications from Larry on market movement you need to act on at any time 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 subscribe to the Fibonacci 24-7 newsletter today tfnn.com educating investors are you ready to take 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difference today tfnn educating investors welcome back folks we got the November bean contracts up on my screen out here we see we take a look at the weekly time frame that you had a TD9 account bottom pattern complete last week so good reasoning for John to be probing and looking for a bottom out there now if this week price close below that level that level the low of last week was done at 11.75 that will negate that signal and suggest we have lower price out there so but right now we've got a bottom pattern on the weekly time frame so what's beautiful about that is you have a rogment of indicators and on Friday what price did was negated a rogment of indicator signal and a by the D point pattern when price close below the bottom or the low of the bullish and golfing pattern out there that was down 11.73 and a quarter it still has a rogment of indicator signal present so if you get another bullish reversal candle that would then tie into the weekly chart that has a bottom and you have a bottom pattern there now I'm going to switch over to the intraday charts because the intraday charts do not have a weekly time frame chart up there so I want to be able to show you this now we take a look at the intraday charts when you're back towards an area where there's a bottom you look to the intraday charts for other bottom signals John turns out that on the five hour time frame chart you have a TD9 account a rogment of indicator bottom right now price is taking on resistance that's that oscillator and change line that's currently printed out here at the 11.75 level you clear that are you likely going to rally towards 11.92 out there is trying to complete a bullish reversal candle this candle isn't complete till another four minutes from now but it looks like you're going to have a bullish piercing candle again that oscillator and change line and profile levels becoming your resistance areas you're getting a turn a confirmed rogment of indicator bottom on the two hour time frame chart you have the pattern on the 60-minute chart but not a confirm oh I take that back you do have a confirmed bottom there as well we don't on the 30 we do on the 15 and now you've got this little TD9 account top on the 10-minute time frame chart out here and price is testing a level of support so this is great this is live you get to watch this if price holds a support level and that support levels 11.71 65 you might be getting your signal as we speak right now none less and of course you would expect this you've got battles up top that oscillator and change line profile levels but if you're asking weekly charts got the nice bottom pattern and you've got everything you looking for on those intraday charts to at least continue to probe to the pull of side folks stay tuned for all the great programming I'll see you tomorrow on terrific Tuesday have a magical Monday and thanks so much for your help take care