 Welcome back, folks. Dow. Dow Industries right now at down 57. You get the NASDAQ off 38. S&P's off 12.5. Let's go over to our man, Mr. Steve Rhodes, as we do each and every Monday at 20 past the first hour. Don't forget, folks, Steve does an outstanding show every trading day here. One to two Eastern Standard Time also has a great newsletter, Mastering Probability. Now, the way you can get his newsletter, you come over to our website at TFNN. You're going to see it right under Featured Content. You hit Mastering Probability. You hit Subscribe button. You can get that for one month for $149. You can get it for six months for $695, which is a savings of $199. You can get it for a year for $1195, which is a savings of $593. They all come with a 30-day money-back guarantee, folks. Everything to gain, nothing to lose. Steve Rhodes. Well, Tom, I never would have believed it if I hadn't seen it from my own eyes, which is the running of the Kentucky Derby twice. Today, we had the Kentucky Derby in the markets, and it was maximum pressure that was leading until about 6 o'clock. In fact, it opened at maximum pressure, led right from the gates last night when the equity futures opened up at 6 o'clock. They held that race until 6 o'clock this morning, and then apparently disqualified twice in a row. Did you get a chance to see that race? I did. I did. Did you? Yeah. I saw it from a distance. Man, I was at a restaurant, and there was a TV off in the distance. I could see that the horse set led, which was maximum security, was out in front all the way. I didn't think that it would make it the entire way there. I never saw the replay. I just have been too busy with stuff. What was your take on the race? What happened is that when they were going around the turn, what they think happened is that the horse heard the crowd and jumped over two lanes. Then the guy tried to get them back. He did get them back, but it was too late. He hammered those horses, man. You can't do that. It's a cut-and-dry deal, too, folks. I was looking at it and it says, man, you can't go over lanes, because the horses die like that. People die in two seconds. Absolutely. It's unfortunate, man. But bottom line is that, imagine two tons coming at you. That mud was amazing, man. Absolutely. So today, we're talking about maximum pressure, which we saw with the Dow Moving Lower. The chart that's up on my screen right now, the Dow Equity Futures contract, I won't know for sure. But the horse today could be a hammer candle. That's today's candle session that we have out here. But we won't know until the end of the day. As we speak right now, it is. If the wick on the top of today's candle starts to expand too much to the downside, it won't be a hammer candle. But if it is, the interesting thing about that, Tom, is that we've got an A to B equal CD that formed. If we use as our swing point, and I'm using the May 1 swing point, that's the A point, and I'm taking a look, folks, at the Dow Equity Futures contract. My B point was really just the following day on May 2. And then Friday's move higher set up that C point of the A to B equal CD. Now, this is a four day pattern. Nonetheless, if we take a look at what this was projecting, it was projecting a minimum price move, the one to one, meaning folks, the distance between the high that we used for our A point and the low that was May 1 and then the low on May 2. That gave us our price range that once a C point formed, and we didn't know this coming into the close on Friday, but if we just simply add that same distance to the high in the Dow Equity Futures contract on Friday, which was 265.18, gave us a price projection of 259.75. Now, Tom, the way that I do these A to B equal CD patterns, because it was one of the patterns that I learned very early on, and I used to trade them right when the one to one level was hit. And then what I learned was that A to B equal CD patterns only complete at that one to one level 60% of the time. So then being a curious individual, I simply want to understand, Well, how am I going to know? You know, if it's 60 to 40 are okay odds, but I wanted to improve my odds. And what I was able to identify was that that D point finished, or was more likely to finish when you saw a bullish reversal candle to the downside or an A to B equal CD to the upside when a bearish reversal candle formed. And so what we have here, just simply even off of the move from the low on March 25th, if we do get a hammer candle today in the Dow Equity Futures contract, we have what's referred to as a Gartley buy pattern. Now, in a Gartley buy pattern, there's basically why I like to say five different potential outcomes. And those first four outcomes are nothing more than retracement of that A to D leg out here. And so drawn on my screen and folks, those those retracements are your point 382 retracement. By the way, that was at 26 to 21. We're well beyond that. The point 618 retracement level is 26401. We're trading at 26407. Yes, we got beyond that. But that is a natural level. So if this is nothing more than a true counter trend rally, the Dow Equity Futures contract and this is what it could be, could be at that counter trend move here. But if it's a hammer candle, and yes, today would really be a wide ranging bar, this would suggest to me that price is going to go at least test the highs of last Friday, which is really at about the point 786 retracement level 26528. Anything above that gets us back to our as you coined it 100% move of a move out there. And I owe you a big royalty check, because I like to use that. I think it's a great expression. And it really helps people to understand that price has made it all the way back to where that pattern began. Now, the fifth outcome, and we don't know this yet, and we wouldn't know this unless price was able to overtake those highs, is that the Gartley by pattern in this case here actually turns into a new A to B equal CD to the upside. And folks, just to give you the conservative price projection on that, you know, just go ahead and use this, what we would be looking at just the one to one level would take us up into the 27246 area. So that's one pattern that's out there that I'm watching. And if we take a look at the we talked about this last week, Tom, we are headed into what's referred to as the unfavorable seasonal cycle, the so called expression of selling may. But what we're seeing take place just since may began is not unusual when we take a look at the seasonal cycle that has occurred over the last 87 years. And what we can see is that really between the first of May, and the third week in May, around May 19th or so, we see a lot of this up and down movement. So what we're actually seeing today is really kind of normal out here or the new normal. And so this jockeying around so to speak, I guess bringing in the vernacular from from a Kentucky derby, you know, could go on for another couple of weeks out here. The thing that I want folks to focus on, let me just share with you at least this one chart. And the question is because there are topping signals that I have in most and all of the equity futures contracts. But this chart here for the ES mini really tells the story. And the story is this time there's six green arrows on this chart and this is using the TAS market profiles and it's using the daily profiles all in blue horizontal levels. And in order for there to be a change in trend, we are going to need to see a close below the bottom of the box. Each of these green arrows show simply buying opportunities where price pushed down to the bottom of the box. Clearly today was a buying opportunity as in last night as another as another attempt to try to close below in the level here folks is 2895. Look, I don't know what's going to happen overnight. What I do know is if we see a close below 2895, we've seen a change in trend in the market. And right now it's wild to Steve is that, you know, if we do let's picture that the market is up the rest of the week. Yeah, then you actually have a hanging man. You know, yeah, yeah, absolutely. Absolutely love it. Listen, folks, you're going to get Steve's newsletter to come over to our website at TFNN. You see red and the featured content, master probability. Steve, have a great one. Safe one. Look forward to the show tomorrow. Thanks. Stay right there, folks. Come right back.