 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 day, folks. Welcome to the October 15th, the fantastic Friday edition of today's Trader's Edge show. I'm your host, Steve. Perseverance Rhodes, who absolutely knows that each of us should always be pioneers of our future versus prisoners of our past. Hope everyone out there is having a great day. Let's make sure we have an extraordinary one. And the easiest way to do that is to always remember that life is happening for us, not to us. That's right. When you now make that one little two-by-four shift, well, it means we can find the gift in every set of circumstance that life is going to toss at us. Now, today, you and I, we're going to go check 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, just past one o'clock in the afternoon. However, it's just past eight o'clock in the morning. So if you are listening at that one o'clock timeframe, thanks so much for doing that. We'll make today's show as pertinent as we can. And of course, if you're listening live, we would love to hear from you. So you can give us a call at 877-927-6648. If you can't call in, but you'd like me to take a look at something, go ahead, send me an email. Send it to Steve at TFNN.com. Inside the subject heading, please put radio show question. And in our Tiger's Den, well, any ping will do. So let's go ahead and get this show started on fantastic Friday. Of course, this is Tiger, Financial News Network. I'm Steve Rhodes. Welcome to the show. Right now, we begin the day as we take a look at the equity futures. We've got all of those trading to the upside. That was up about a half a percent, 162 points. NASDAQ's up three tenths or 49 points. S&P is up four tenths or 17. Russell's up a half a percent. That's 12 points to the upside. That's spotball tunics is well below its 50-day exponential moving average. That says the S&P has the wind at its back. If we take a look at what's going on internationally, some of the major markets out here, you can see all the Shanghai, the Nikkei, the Hangsang all finishing up, up 1.8, 1.5%. Australia was up 7 tenths were sent. And in Europe, the Dax and the FTSE also trading higher. Gold's off 19 bucks. Silver's down 20 pennies. Light's recruit is up 87 cents. Natural gas off 11 cents. Platinum is down a buck 60, so pretty strong out there. Hardly a move to the downside. Palladium off 21 bucks. You've got the 30-year treasury. She's trading out at 159.22. So let's begin the day. Kind of how I begin my day, I guess, the parts of it. Let's go take a look at what's going on in the international markets. We're going to change screens here. And this is one of the charts. There's many of the charts that you see here are included in the morning or the evening, a Mastering Probability newsletter. So here we got the Shanghai, the Hangsang, the Nikkei and the Dax along the top panel. We take a look at the Hangsang. The Hangsang, even though it's not shown here, it has a sell the D point. And as long as price remains below that green line, that Stevie's oscillator and change line, price is likely going to target $3601.80. Now price closes above that green line. That'll go ahead and put the Shanghai into full-out bullish mode so we would anticipate or expect that price would get back to where it generated that sell the D point. So right now it's kind of in neutral to bearish territory. That is not the case with the Hangsang. The Hangsang formed a roadside indicator bottom. It did about four or five trading days ago when price gapped up a rising window. And now price should target its TD9 breakdown level. That's at $25,900.68. The Hangsang absolutely in bullish mode as we speak right now. The same is true about the Nikkei. The Nikkei formed a buy the D point pattern or a Gartley buy pattern. Today price closed above that red oscillator and change line. It now has native B equal CD to the upside. In fact, each of these, the Hangsang and the Nikkei, well the Nikkei already has a confirmed A to B equal CD to the upside. That would look like this. Now I can't draw in the full A to B equal CD pattern. But if we take a look at just the A to B point, that's this blue line here. I can just move this over to the C point out there. And now that's just the, even though you might look at it and say, hey, geez, looks like Sunday night, Monday morning, the Nikkei could go ahead and complete that one to one A to B equal CD. Yes, but that does not mean it's a top. That does not mean it's a top at all. You want to wait for some type of bearish reversal candle. So the Nikkei is an A to B equal CD pattern to the upside. So too is the DAX. Now the DAX formed a Rosemont Dominicator bottom. It did it on trading day of October 16th when it generated that bullish hammer candle. So it too has a A to B equal CD pattern. No reason for me to go ahead and type that in here. But if a bearish reversal candle forms, and I'm not saying it's going to do it today, but if one forms, then that would create a Gartley bi-pattern. The footsie, that's in the lower left. This formed a TD9 count bottom. That did it on the trading day of September 20th. It is also now in an A to B equal CD to the upside out there. And so we'd be looking for a bearish reversal candle. In the case of the US dollar index on Wednesday, this generated Rosemont Dominicator top. It did that when it generated this little bearish and gulping bearish-ash candle. Now Price has only been able to pull back and test and reject the top of that daily profile. So even though we've got a topping signal here, Price has not busted through any levels of support. We're looking at the daily timeframe. And therefore its message is neutral. I would say it's just neutral right now. And neutral because Price is below that green oscillator and change line. You get above that, it'll go from neutral to neutral to bullish. We take a look at the Euro. The Euro generates a wave number seven. That's letter G. That's courtesy of Basil Chapman. It completes an A to B equal CD to the downside. Now, the reason I say it completes it is because of the bullish and gulping candle from three days ago. So this suggests higher price. That would go ahead and weaken the dollar. The yen is strengthening the dollar. It continues to move higher. It's had a nice explosive move overnight. I don't see it. And it's got an A to B equal CD pattern as well. So a bearish reversal candle in the case of the yen would generate a sell the D point. So in summary with regard to what's going on around the markets, we can say this. The Hang Seng is bullish. The Nikkei is bullish. The DAX is bullish. The FTSE is bullish. The US dollar index is neutral. The Euro is bullish. And the yen is absolutely bullish out here. I don't want to say bullish. That's going to go ahead and strengthen the US dollar index. So that's what's going on internationally. Now let's go take a look at what's going on in the US by take a look at the equity future contracts out here. So here we'll go ahead and move over since I'm on this screen. We'll change over to this set of charts here. You've got the ES in the upper left-hand side. Now what the ES is doing, and we'll switch over to my other, my black background charts, but the ES mini, just like some of those other international markets that we're looking at, has an A to B equal CDT upside. So too does the NQ. Quite frankly this morning, so too does the Dow. And not so much in case in the Russell 2000. So I've got A to B equal CD up patterns that are in place for at least three of the four equity future contracts. So the question is, okay, where do those A to B equal CD patterns take us to? Let's go switch over to my black background charts. We'll go over to the TAS market profiles. Here's the daily timeframe. We'll just simply expand the chart out. So here's the ES mini. I'll go ahead and pull this back just a bit. You can see the A to B equal CD, but you're going to see a couple of patterns out here. One, you're going to see a square that represents a consolidation pattern. So the top of that consolidation pattern is in approximately the 4470-ish type area. The one-to-one A to B equal CD takes us to 4478. I am not saying that that is where price is going to stop, but I am saying at this stage, at least at 8.14 in the morning, that is where price is targeting. If we take a look at the NQ out here, let's pull that back. In the NQ, you've got an A to B equal CD pattern. Even if that B point was passed with lighter volume, it's past it. And so what we're taking a look at here is the first price projection gets us up to 15.219. I've drawn in a small rectangular or square consolidation pattern as well. The 1-to-1.272-A to B equal CD would take us up to the 15.391 level. Right back for this break, we're going to go out to California. We're going to speak with Brent, and we're going to be talking about Goldilocks. Steve Rhodes with TFNN, we'll be right back. What's separating you from the most successful men and women on Wall Street? That's right. Information. Having all the information gives us the perspective we need to place the right trades at the right time. The TAS Profile Scanner is the premier market profile-based scanner. Powered by its acclaimed TAS proprietary algorithms, this feature rich scanner instantly filters over 2,500-plus global financial markets, such as stocks, ETFs, commodities, futures, and forex. 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So if you could take a look at some, oh, different time frames, and then we should look at, I guess, daily just to see if we're, you know, some account that would make sense for it to be pulling back. If not, is there some level on the shorter term, you know, charts like 30, 60 minutes that would, you know, set up for a potential bottom? Sure. Sure. Okay. So let's take a look at Goldilocks. This is the daily time frame chart that I have on our screen here. And I have the daily profiles. We're taking a look, folks, at the December contract. And what we'll see out here is that Goldilocks actually completed an A to B equal CD pattern. So the A point that I'll use out here, this is kind of the junior, the smaller, the conservative A to B equal CD pattern. That's the low from September 29th. That's the A point. The B point is out here at the high of October 4th. Come on, work with us here. It's going off my keyboard. There we go. There's our B point. And the C point two days later on October 6th. So we'll see that yesterday. We had that, or two days ago, we hit that level with a wide-ranging bar. Wide-ranging bars are typically not out. A to B equal CD patterns complete. Yesterday was just a small-bodied candle. And today we've got a bearish and golfing candle. And that is suggesting that, of course, it's all going to depend, as you know, on the end of the day candle session, not what it looks like at 8.20 in the morning. But right now you do have a sell the D point pattern or a Gartley sell pattern. So we have to acknowledge that, be ready for that. What does that mean? So that's the first pattern that's out here. You ask the question, where is price likely to find support? Or where might be the first level that would find support? And I know you want to take a look at the short-term timeframe charts, which we will. But I think it's the daily chart that may give us that information. And that is, will price hold 1768.20? That is the top of its daily profile. Price has been above it for two days. What we can see about 1768.20 is that is acted as resistance. It's been at resistance from October 1st. It was tested one, two, three, four times. Four times before price broke through that. Now, if price gets back inside there Brent, that means a close below 1768.20, that could set up and move back to 1748, even to 1734. So before I go switch over to another set of charts, any questions about this chart? Oh, that's great. Thank you, Steve. Okay, so 1768.20, thereabouts, is the first level that we'd be looking at. Now we're going to go take a look at our multi-time frame charts out here. And our multi-time frame charts, we're really looking at the inter-day. So we're looking at the bottom panel in the upper right. In the upper right, we'll start with the 30-minute timeframe. We'll see that this is bar number 8 of ATD-9 count. We know that it could be bar number 8, 9, the bar following 9. That could identify a bottom out here. So we might have a bottom that forms between 8.30 and 9.30 this morning. Now the key thing here is I'm just going to expand out the chart. Even if we get a bottoming pattern, we want to keep an eye on the oscillator and change line. We can see that the oscillator and change line has acted as resistance ever since 9.30 in the morning yesterday. And so if there's going to be any kind of bottom signal, which there may be, price would likely go ahead, Brent, and move up to the oscillator and change line. It's currently printed at $17.82.90. No idea what it's going to be printing at $1.22 in the afternoon. But if price is able to overcome that, then that would be a somewhat bullish signal because support would have held the top of the daily profile. You get a bottom signal here. Now the first TD-9 count that formed was about midnight. Let me see when that actually was. That was at, no, it was 9.30. Why was I thinking? Oh, it was about one o'clock in the morning and it started moving lower. So you didn't get a TD-9 count bottom that eventually failed. We can see this nice with move. Another TD-9 count Brent that formed out here at four this morning, that failed to produce a result. So will this one produce a result or not? What I can share with you and everybody else in the audience is if price is able to close above that red oscillator and change line, then the answer would be yes. Now I wouldn't have an answer until then. If we go take a look at other intraday time periods. So that was the 30. The 60-minute show is also bar number eight of a TD-9 count. If this TD-9 count does not hold, the price gets below 17.68, the next level to be looking at would be 17.5980. Or in that range, because as we look at the two hour and the four hour chart, we see that its TD-9 count breakout levels are at 17.5790, 17.5790, 17.5980. So those would be the levels to be looking at both the 60 and the 120 and the 30-minute. Each have those TD-9 counts that are present. All are in bar number eight right now. So there is reason to be on the lookout for that. In the case of the 60-minute timeframe chart, as well as the 30-minute chart, we see that the oscillator and change line change colors. We haven't seen the test of that. That's what we typically see. So that's what the short-term timeframe charts are showing. So support should be, we could see a bottom form again between now, seven minutes from 8.30, but between 8.30 and 9.30. And as long as price holds at 17.6820 level, even though it's a potential Gartley sell pattern, I'm not convinced that this is the end of the move for gold. So Brent, from that information, what questions do you have? That's great to hear. I've been looking. You know I like to do the Friday, the last day of the auction. Yes. The calls in this case on the GLD stuff. This is very useful. This is what I'm looking for. I'll just be looking for those levels and a potential bullish reversal candle and maybe take a shot at that. Perfect. Perfect. Yeah, I think that's a sound approach here. And let the market prove itself to you. So we get a TD9 count. Let's say that we do. Just go to the short-term timeframes, look for some bullish reversal candles, and then go ahead and fire away. This term to see on the 120 million, is that getting to be, looks like maybe bar seven, or if it's kind of a ways into that one as well, I think, right? Yeah. So it is also going to form bar number eight. Now the bar eight, in the case of a two-hour timeframe chart, will not complete until 10 a.m. So this bar just started as we came on the air at eight. But that's why, you know, so you know that this has a potential bottoming signal. And that makes really Brent, I would say the 30-minute chart, the one to really be paying attention to, right? If there's going to be a turn, we'll see it take place there first. So that's what I'd be looking for. We're watching. Okay. All right. Thank you so much. You have a great weekend and thanks so much again for your help. Hey, my pleasure. And thanks so much for calling. That was Brent in Martinez, California. Let me check, folks, see if there's any requested of coming by email. There are two. So let me get to those questions out here. Let me change screens as well. Sometimes I forget to do that. And I start talking about one screen and the other ones are showing. So this is from Alex. Alex writes, and he says, hey, Steve, with the S&P and Dow roughly 2% off their highs. So he's talking about the equity market. So let me get back to those charts out here. Give me a moment. Here's our equity future. Actually, this is actually a good chart to take a look at. So we'll see if it's a good chart as we finish reading Alex's question. But this question goes on like this. The Dow roughly 2% off record highs in Nasdaq and positive about 4% behind. If those averages make new highs in October, would that change the seasonal low in October leading to a year-end rally all the best? So let me read this again. If those averages make new highs in October, would that change the seasonal low in October leading to a year-end rally? I don't really get the seasonal low. So when we come back from this break here, I'll try to answer that question as best as I possibly can. We'll be right back. Are you looking for a way to consistently add winning trades to your portfolio? Tom O'Brien is here to help. Tom O'Brien has been successfully trading markets for over 30 years. A frequent contributor to TD Ameritrade Network and CNBC, Tom O'Brien founded TFNN over 20 years ago to help educate investors just like you. Tom's Daily Market Newsletter, Market Insights, is published every morning when the market's open. 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Using this first-of-its-kind program, The Art of Timing the Trade Charts allows you to scan thousands of stocks for Fibonacci formation setups, The Art of Timing the Trade Charts is designed to help you when scouring the markets for stocks just beginning to form the trading patterns that many investors spend days, weeks or even months searching to find. And right now we're offering licenses available at only $79 a month. We are so confident that you're going to love this new charting software that will even give you a 30-day unconditional money-back guarantee. Don't miss out on this incredible new piece of software. Get your copy of The Art of Timing the Trade Charts at cfnn.com. Back folks, so back to Alex's question or at least the way that I'll answer Alex's question out here. And so what we're looking at, many of you that are watchers of the Traders Ed Show or some of the segments that I do with Tom on Monday afternoons are very familiar with the annual seasonal cycle pattern. And so what Alex, I believe, is first referring to is here we anticipate a bot in the forms of spending any time focused specific on the date. It's just a guideline out here. What we're looking for in the October-ish time frame is some type of bottoming pattern. And then when we get that bottoming pattern, what that says is that we should see the markets move higher into the end of the year. So now we take a look at the Dow Equity Future contract. This generated a confirmed Gartley buy pattern. It did it on the trading day. So it's done it a couple of times. It did it first on the trading day of September 22nd to this little three river morning star pattern. That was the bullish reversal candle. Now what that did that candle session that set up support and support would be the low of the pattern that happened to be the trading day of September 20th. That low being 33, 478. That's the key level of support. It doesn't matter that was breached, for example, was breached on October 1st but that was a test and rejection of support. There was also a bullish chamber candle that formed out here on October the 6th. So we have a second confirmation of the Gartley buy pattern. On a Gartley pattern out here, there are typically five different outcomes. The first four are retracement levels. So let's take a look at those retracements or I'm going to try to if I can get there we go. So let me get the retracement tool out here because we want to try to understand so here's the retracement. What level are we at right now? So we go from, oh, I've got the expansion. Give me a moment here to change the tool setup. Sorry about that. Yeah, it should be the default. Now we're going to go from the A point to the D point out here and that's going to be come on. There we go. That's approximately right there. So what we can see is right now as we speak, I mean right to the tick out here is that the Dow equity future contract has made it back to its third price objective of a Gartley buy pattern. The first one being the 0.382 retracement, the second being the 0.618 and the third being the 0.786 retracement. Even though I don't know that this was a part of Alex's question, here's what we do know. Typically if price is able to get above the 0.786 retracement well one, that pretty much negates the idea of the markets moving lower. The idea of it doesn't mean that they can't and if price gets above the 0.786 retracement on the Dow equity future contract, we're looking at 34 971, that says we should go at least back to outcome number four. Outcome number four is a move of a move. We're going to take Tom O'Brien and I'm going to have to pay him a dollar royalty for using that but that move-of-move would take us back to 35408 level. The fifth outcome is that this turns into an A to B equal CD to the upside. If you're wondering what that would look like I can put that in here for you. So the A to B equal CD to the upside for this Gartley buy pattern, I would use the June 21st low, the reason I'm going to use that is because that's the lowest low on my screen right now. For the high out here I'm going to use the actual high out here and it would be that day from October the 1st. So the 1 to 1 A to B equal CD would get you up into the 36028 level. The 1 to 1.272 36747. So those are the areas where price here's the thing Alex, as we have confirmed by the D point patterns on all four of the equity future contracts out here. So the seasonal low would appear to be in. However, if this is the market that we're looking at, that doesn't always have to be a caveat, but in this case here, we always have to go back to remember and recall what kind of market are we trading in because that is the most important thing. And to answer that question, all we have to really do, I'm not sure which tab it is. I think it's this tab. Well, no, it wasn't that tab. I'll come back to that in a moment. But as we take a look at this Alex, the markets are just trading in sideways consolidations rather large than what we're looking at today. That all prices trying to do everything that we've seen here is really get back to those all time highs, get back to those sideways consolidations. Now the cool thing, as you know, Alex about the consolidation pattern is if new highs are made this then in addition to the A to B will CD pattern that we just drew and we could draw in many different A to B equal CD patterns to the upside. The cool thing about the consolidation is if price is able to take out with regard to the markets overall there has been no change in trend signal and that's really what this chart here is all about because this shows just simply the bottom of the weekly profiles. And in order to get a change in trend signal we need to see a close below the bottom of the profile. The reality is as you know you need to see two consecutive closes because the first close below a level of sport may just simply be a false flag, a false move out there. And in the case of the NQ which did close below the bottom of its weekly profile, the week that began on September 27th it didn't get follow through to the downside. So we've got signals of seasonal lows that are absolutely in. But at the same time the markets are trading these consolidations so let's not get too far over our skis out here. And in the case of the Dow Equity Future Contract we saw that it's at a critical level of 0.786 retracement level. That should then make us say well let's go look at the Dow charts since we know they're at a potential point where price could turn down. Let's go look at their short-term time frame. So to do that folks what we'll do is we'll go switch over to Stevie's eight panel charts. This gives us our multiple time frames. Now it gives us our large time frame such as the Dow on its monthly basis no topping pattern in place here. Price should simply pull back, test that green oscillator and change line. So from a monthly a monthly standpoint it's outright bullish. In the case of the weekly chart this form to buy pattern. Price pulled back tested its breakout level support $33,623. Price is likely targeting $35,567. We've already talked about the A to B equal CD pattern. Price is trained above the top of its daily profile. So the Dow Equity Future Contract looks bullish. Now if we look at the short-term time frames out here it's still this bullish. So we don't have any topping signals only potential topping signals on the five-hour time frame chart and that's a TD9 count pattern. But all the other TD9 count patterns are failing miserably here. So this looks like a continued rally to the upside. But to answer your question about the seasonal bottoms are in or in a consolidation pattern price should really make its way up to the top of those consolidations. And Alex if price closes over the all-time highs just use these consolidations as their measured move price target. So I hope that helps you out. Thanks so much for writing in and have a great weekend. The next question coming in from Johnny D. Johnny writes in Do you think that this move up is a counter? So Johnny writes on the newsletter you show the EES and NQ are in A to B equal CD up pattern. So we really kind of covered even the, I think we've taken a look at that. With that analysis do you think that the move up is a counter trend move or a resumption of the uptrend? So I think I answered that question too Johnny and that really we're just into consolidation. So is it a resumption of the uptrend? I think it's a resumption of the uptrend perhaps to the top of those consolidation patterns. But I can't I would be disingenuous to say I know what's going to happen after that. Instead I would prefer to show you the patterns that are in place out here so that you can anticipate what the market is likely going to do. And then your next question so I think we've answered that I hope that we have but if not Johnny write back to me and during the show here we'll go ahead and try to answer that. I also wanted to take a look at BMY for a potential long position. That's Bristol Myers Squibb. So let's take a look at BMY and I'll get that fired up on my black background charts. We're going to change over to that so give me a moment to change screens out here it's a little bit of housekeeping so we'll get the black background charts up on our screen while that while you're taking a quick look at that I need to change over to another set of charts out here so that we can appropriately take a look at Bristol Myers Squibb which Johnny is looking at for a entry into it we'll see if we can come up with that. So this is Steve Rhodes with CFNN if you're listening at 138 in the afternoon thanks so much for doing that try to make this show as pertinent as we can for you we'll be back to the normal program you know we're on Monday. Steve Rhodes with CFNN Are you having fun trading the markets but having trouble finding like-minded individuals to discuss your trading and investment ideas with become an apex predator in the trading markets and join the Tiger's Den trading room only at TFNN.com The Tiger's Den is an exclusive trading room where successful traders from around the world come to exchange trades and ideas join the den and surround yourself with the sharpest minds in the trading world Subscribers to the Tiger's Den are also the first to have their questions answered live on air and can privately chat with our TFNN hosts live during their shows interact with other Tigers and Tiger's as they share trading ideas news analysis and discuss the market action all trading day subscribe to the Tiger's Den risk-free with our 30-day money back guarantee and become part of the TFNN trading community TFNN Educating Investors Are you in the market for buying or selling real estate in the Bay Area including the 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point so here we've got the task market profiles we've got the daily weekly and monthly profiles and so let's first see what it is that we can learn from this so the very first thing Johnny that you should know and it's clearly not just the profile levels but we've seen actual price action is we know that the bottom of that daily profile is a significant battleground level now it's only been one test of that level and that is on the trading day two trading days two trading days ago and two three trading goes on October the 12th but you can see how price tested rejected level so 5883 is going to be a big battleground what else do we know if we go back to the prior profile there was a bullish structured profile bullish instruction because that center much closer to the bottom then to the top remember the top you have sellers the bottom you have buyers and in the center you have both buyers and sellers that believe that that's where fair value is at now when price gets below the bottom of bullish structured profile you anticipate that a counter trend move finds resistance at the center of that profile that's exactly what took place on September 29th so important information with regard to the profile so here's what we know right now as of 843 in the morning the battleground is at 5883 the question is though is there bottoming patterns or signals so let's pull over steve's white background charts because on the white background charts that we that's where we really get those patterns other than a to b equal CD patterns now you can see Bristol Myers Squibb has just been on a steady move to the downside it has had a couple of bottoming patterns along the way one would have been out here on the trading day of September 23rd when it generated a bullish and gulping candle and that was confirming a TD9 count but see how price never was able to get above that red oscillator and change line yet another TD9 count pattern that formed out here on October 1st price never able to take out that oscillator and change line so that's going to be a key level well yesterday price did close above it but what price also did yesterday was it confirmed a roads meant to Mindicator bottom now we've seen a couple of these confirmed here and they have failed so if your question is is there a bottoming pattern in place on a daily basis for Bristol Myers the answer is yes do I know how price going to deal with 5883 the answer is no but if price could close above that you're then looking to move to 5977, 6047 and eventually 6134 6134 is where you get your change in trend signal so the daily says bottom right and now this big sell off what does the weekly tell us I don't know let's go find out so the weekly chart again we're looking for some type of bottoming signal do we have that well the answer is it turns out that this week is going to form bar number 8 of a TD9 count pattern and what we know about that is that bar number 8 can be the bottom now bar number 9 has to complete and all that means is next week that Bristol Myers Squibb would have to close below 6023 in order for that pattern to form so yeah this has potential we see the oscillator and change line change colors four weeks ago that tells us that we should expect and anticipate price not line to catch up to each other 6285 let's take a quick peek at the monthly chart out here for Johnny what do we have in the monthly not much so we won't spend time there that takes us into our intraday chart such as the 30-minute chart so here on a 30-minute chart when price is going to make a bottom what we typically look for is those intraday charts to give us those same signals as well well the 30-minute chart did it it gave us both a TD9 count bottom it did it at 1030 looks like yesterday two mornings ago and a roads momentum indicator bottom now a price is not done is taking out a significant level of resistance that would be at 5884 but that is where price should target if I take a look at the 65-minute chart also bottoming signals if I take a look at the 130 also bottoming signals the 195 the same thing so yes Johnny you and everybody else that's listening that was interested in taking a long position in Bristol Myers Squibb now is the time to do it you know and then just watch for that 5883 battle that's going on let's see what it's trading at as we speak right now with the market speaking up so let's get over I get to this chart right here BMI let's put it in BMI and what was that level that we were looking at well here's what it's trading at 5788 so 5788 5880 so it's really on the up just you know just 18 pennies right now so watch that 5883 but yeah all the signals are there that it is absolutely trying to bottom will it bottom will it hold I don't know but you've got a good reward risk trade here with regard to the reward risk where's price targeting the target that I would use for this would be that TD 9 breakdown level of 61 34 so I hope that helps out Johnny thanks so much for listening as well as being a subscriber to the mastery probability let me take a quick check here folks to see if there's any other questions that have come in there are not any other questions so the question is where do we go from here Steve can we take a look at Feng well there's our next question and the answer is we can so FANG is the ticker symbol that we're going to look at and let's get this up on our three background charts about our black background charts it shows our TAS profile so what do we know about FANG I can't recall I think this made a top out here and on October 11th and all prices done is pulled back to test the top of that profile out there top of that profile be 10595 so if in fact it did form a top we're going to go find out in a moment it's really neutral to bullish because there's been no level of key levels of support that have broken but let me pull over the FANG charts out here can't recall if they did form a top or not let's go find out when I say form a top I'm referring to one of my topping patterns so what do I I don't have that I do not have a topping pattern that formed out here period I don't have an A to B equal CD I don't have a CD nine count top I don't have a Chapman wave top I don't have any kind of a top out here that this is formed and all prices done is pulled back to test and reject support and that's both the top of the profile as well as the screen oscillator and change line so price should make a run back for the highs from a few days ago on a weekly basis what do we have going out here for FANG again no topping signal here so this suggested it wants to move higher and on its 30-minute time frame chart this form with that wave number seven that's letter G it did it at 10 o'clock in the morning back on October 13th so yeah everything here looks pretty good now if price were to close below so support you know where support is at right and we seem that it's been tested and that is held if you see a close below 105 95 then even though I don't have a topping pattern out here doesn't mean that hasn't topped just means it hasn't topped with one of Stevie's patterns that we use and if price close below 105 95 that could signal to us and be that this is getting ready to move back to 94 73 93 13 I know you've had some good profits in this here so don't let some of those profits vanish so hope that that helps you out and thanks so much for writing in now what I'm about to do here is I'm going to go ahead and change charts because I know that there's a call there's a call coming in it's just a mental telepathy thing I'm just kidding it's John and Philly hey John thanks for calling thanks for holding how are you doing this morning Steve oh I'm very good I I tell you I love when you do this show at this eight 8 a.m. time slot excuse me time slot it adjunct to getting prepared for the day well great well thank you and thank you for listening and in all your kind comments and I know that you wanted to take a look at the NQ so what is it that you wanted to play now to assist us very specific question pull up the NASDAQ futures NQZ one contract on the two hour charts all I get yeah son or not hey John we're about to go to we're about to go to a break so hold on that thought until we get back see roads with TFNM be back shortly the reality is that navigating financial markets can be risky markets can be chaotic and difficult to understand having the latest market advice can help you turn this chaos into a key for creating winning trades at TFNM we understand that it can be hard to find reliable market news that's why each of our market experts offers their very own market newsletter a must have tool for every trader out there striving to find an edge in today's markets TFNM newsletters cover every aspect of the markets so you can analyze the market where you trade try any of our great newsletters risk free with our 30 day money back guarantee just visit the newsletters tab on the front page of TFNM.com TFNM educating investors are you having fun trading the markets but having trouble finding like-minded individuals to discuss your trading and investment ideas with become an apex predator in the trading markets and join the Tiger's Den trading room only at TFNM.com the Tiger's Den is an exclusive trading room where successful traders from around the world come to exchange trades and ideas join the den and surround yourself with the sharpest minds in the trading world subscribers to the Tiger's Den are also the first to have their questions answered live on air and can privately chat with our TFNM hosts live during those. Interact with other Tiger's and Tiger's as they share trading ideas news analysis and discuss the market action all trading day subscribe to the Tiger's Den risk free with our 30 day money back guarantee and become part of the TFNM trading community. TFNM educating investors are you looking for a secure investment which pays you on a monthly basis the Tiger first mortgage program may be the program for you the best rate on a five year CD in the country right now according to bankrate.com is paying 1% per year a $1,000 per a $100,000 invested the Tiger first mortgage program pays 7% per year paid monthly on secured high value buildable properties in St. Petersburg, Florida the investment is for four years paying 7% per year a $7,000 per a $100,000 invested your investment is secured by high value real estate in St. Petersburg, Florida your investment can be anywhere from 100,000 to 500,000 you want to make 1,000 per year on 100,000 invested or 7,000 per year on a secured Tiger first mortgage the Tiger first mortgage program may be just the program for you the Tiger first mortgage program pays 7% per year paid monthly for more information you can call 877-518-9190 that's 877-518-9190 don't forget you can listen to TFNM live on your mobile device 24 hours per day TFNM.com then hit watch Tiger TV that's TFNM.com then hit watch Tiger TV welcome back folks we're taking a look at two hour time frame chart for the NQ we've got John on the line and John sorry about that that you were cut off by the commercial but please proceed now there is a difference I believe between your charts and my charts and sometimes with these two hour time frame charts or four hour time frame charts will show different bars so I am only in bar number E to the upside whereas and I believe on your system you're at bar number F but go ahead please and proceed with the question Steve you've just identified a little difference it's quite subtle the difference is simply this the chart that that you've shown Chapman wave count from the 2 a.m. Wednesday low at 14 586 50 alternate way of counting begins with the lowest like that now there's only one way to count this I start with the low p.m. on the Chapman wave on this time frame and Denner's welcome Chapman wave peak G cell signal tool now at today down can you tell me what levels need to be broken looking at a larger time frame be it the five hour chart or the daily charts what levels have to give way for us to conclude oh hey these these highs here today be it at 2 a.m. this morning or from here a tradeable high that's my question for you we're out of time but I'll give you the number watch 15012 that's the td9 breakout level for the 30 minute time frame folks have a terrific Friday weekend we'll see you on Monday building wealth trading in the stock market seems impossible to most people they think it's too volatile and risky most people aren't going to take the time to educate themselves on how to do it right but you're not most people are you at tfnn you'll get the guidance you need to refine your strategies and techniques to invest like a pro because you'll be a pro all tfnn subscriptions books software and courses are available at tfnn.com and I'm even going to tell you how to get them for less use tfnn's tiger dollars and you'll get up to a 20% bonus on your purchase and once you apply them to your account tiger dollars are automatically used for all future or recurring charges tiger dollars also never expire are fully transferable and are a great way to add savings to your newsletters or services become the investor you were born to be at tfnn.com tfnn educating investors