 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 July 20th, the terrific Thursday 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. Well, it's to always remember that life is happening for us Not to us That's right When you and I make that one little two-by-four shift means we can find the gift in every set of Circumstance that life is gonna toss at us. Now today, you and I we're gonna go check on the circumstance of these markets We're gonna go figure out what those bulls and bears what those buyers and sellers are communicating to you and I at Just past 11 o'clock in the morning. I want you to know I'm absolutely grateful for your presence here But even more important than that and that's this during this next 53 minutes I'm here to serve you so feel free to pick up that phone dial on in an eight seven seven nine two seven six six Four eight and if you've got a question, but you can't dial in you can always send me an email Send that off early and send that to Steve at tfnn.com Of course inside the sub cutting if you'd be kind enough to put radio show question Now if you're in our Tigers then well than any in every ping will do so let's go and get this show started on Terrific Thursday. Of course. This is tiger Financial news network. I'm Steve Rhodes. Welcome to the show. Well, we've got a mixed bag The mix goes like this the dows up to 60 the trannies are up 61 That's seven tenths and four tenths and then New York stock you change up about a little over one a one-tenth or percent Are the US indices trading to the downside? S&P is off about three tenths or 12 points one and two tenths for the Nasdaq 100 one eighty nine Russell's off nine tenths 17 points a little over 2% for the semis. That's an 83 point move Gold is off $9 trade out of 1972 silver trade at 2509 That's a move of 1% to the downside 29 pennies lights recruit up 44 cents about six tenths percent to the upside Natural gas up 13 pennies. That's a 5% move and the 30-year treasury printed out 12609 That's one point and 13 ticks to the downside leading the charge now dollar wise the upside You've got market taxes of 14 bucks five percent Regenerate pharmaceuticals up 11 bucks one and a half percent Eli Lilly up 10 bucks two percent Johnson and Johnson nine bucks six percent Old dominion two of point three percent or nine buck runes to the downside It's netflix off 41 bucks nine percent monolithic power systems $29 five percent as beholding 26 bucks three and a half percent Equifax 24 bucks 10 tesla 21 dollars seven percent So we got movers and we've got shakers, of course I want to look at what you Want to look at let's start by taking a look at the market breadth out here Let's start with the shortest time frame that we have that's the 30 minute We have it for both the es and the nq s and p 500 right now shows that we are in positive or bullish market breadth Uh, you have 164 incidents trading above the top of a 30 minute profile 89 below Let's take a look at what's going on inside the ndx 100 So take just a moment to populate We'll look at the upper left hand side 31 above 20 below So for the 30 minute time frame market breadth for the es many and for the nq is bullish out there Let's look at the other four time frames those being 60 240 daily and weekly If we take a look at the daily time frame Weekly they are bullish for the s and p the 240 is bullish the 60 is 240 So no turn has been detected. They're just yet from a market breadth standpoint and the azdec 100 That is just so the 60 minute is got negative market breadth 240 daily and weekly have positive So that's where we're out with regard to market breadth for the nasdaq and for the s and p 500 Let's go out to our first caller. It is john in philly. John. Thanks for calling. Thanks for holding. How are you today? Do we have john good afternoon? Good morning, steve. Uh, john here in philly Perfect. Perfect. How are you this morning? Uh, very good, and I apologize in advance if my phone reception is poor That's okay And if it cuts out I will end this call Possibly without notice So if that occurs my apologies in advance Don't move your head. Just keeping that exact position right right right now. You got a good signal Exactly. I'm doing my best my friend. Okay, good. I'll get to help you Steve I'd like to just share with you and your listeners And reinforce in my own thinking The topic of the nasdaq 100 constituent Rebalancing that comes into play monday morning to open perfect And uh, steve, uh, this This topic, uh At least for me and our conversation here Will not impact or I won't suggest it will impact Uh, the trend Within the nasdaq 100 But I thought I would uh, uh, share this with you in advance Uh, so you've heard it So that you uh, so that everybody can contemplate Some of the implications sure sure Or we're talking about seven stocks, right? Or five stocks Exactly yes, yes, okay I have uh, every day. I've done an internet search looking for the reported Uh, constituent weighting changes And uh, either I am a very poor researcher on the internet or Uh, that information is being withheld to the public. Uh, it's one or the other. I don't know um What I will share with you is this If the constituent Waitings if they're changed in a meaningful amount Uh, the idea I share is that From monday forward The nasdaq index Uh, and the historical nasdaq index Will be akin to Oranges in the future and apples in the past meaning Steve if We do Say finacci retracement calculations Next week next month next quarter That we will be dealing with effectively two different items And as a consequence steve It's important to keep them keep in mind That say next week next month next quarter if we get pullbacks of the nasdaq 100 And we use our daily price charts And we do say finacci support calculations that sort of thing Those would by necessity be inaccurate to some extent right Right, I agree with that and And and therefore I just wanted to uh reinforce in my own thinking Share with you and your listeners that's starting next week That uh, we be there that we exercise caution In believing our technical calculations Specifically when it comes to calculating support levels Based upon the rally that has occurred thus far Because We will be dealing with apples and oranges. Absolutely. Hey, john. We're about to go to break. You're welcome to hold on through that break But we're headed there right now steep roads with tf and end will be right back Currencies commodities and bond markets are as important as ever right now with how they're driving the volatility In equity markets across the globe, which is why it's a great time to try out teddy keg stats tiger forex report Teddy keg stat breaks down the forex markets every monday using his 30 plus years of experience as a trading veteran of futures Forex stocks and options Teddy releases his weekly tiger forex report every monday morning with coverage of all the major currency pairs Including the dollar index the euro dollar pound dollar dollar swiss Dollar yen as well as many more and he also has weekly coverage of the crude oil market and the 30 year t-bonds As they both influence forex markets tremendously when you sign up for the tiger forex report You also gain instant access to teddy 60 minute webinar archive He just hosted forex strategies and fundamentals What is behind the tiger forex report for all the details and to start your 30 day tiger forex report subscription today Visit the front page of tf and end dot com tf and end 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 tf and end dot com The opening call newsletter is written by basal chapman Creator of the trading methodology known as the chapman wave The chapman wave up down sequence gives you an edge in identifying price turns Finding the peaks and valleys and stock prices get the opening call newsletter by basal chapman in your inbox every day First time subscribers also get a 30 day money back guarantee If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up tf and end dot 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. It is 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 tf and end all our newsletters come with a 30 day money back guarantee So you have absolutely nothing to worry about visit tf and end dot com and try mastering probability 30 days risk-free today tf and end educating investors Toll free at 1877 927 6648 internationally at 727 873 7618 Welcome my back folks. Uh, down's up to 50 s and p of 15 aztec one or down 203 Just as a follow-up john uh, john went ahead and hung up Thought he shared enough with everybody with regard to the rebalancing. So let me share This with with you john and with everybody else as well. So I had that same thoughts Um, you know, even this morning while in the shower the sona would have you saying and I've got if I'd love to figure out What those new weightings are going to be now? I started looking into this in the early part of of the week when uh when it was mentioned I was either this week or last week. I think it was this week and um, I too was doing some searching So let me tell you what I've what I have found so far First I found an interview. I think it was done on c nbc yesterday or the day before But it was with adina freedman the ceo for the naztec And she was really aloof with regard to Uh, the interview showed becky quick asking her a question about the rebalancing because she wasn't familiar with it And then asked about how that might impact things and she was very aloof with that But what she did say is that the rebalancing if you really want to try to figure out what they're doing You might want to try to investigate the details of the methodology behind the rebalancing for the naztec So I would do each of you can do a search here and just put naztec index methodology And what you should be able to do is pull up a pdf file. No, I I found that This morning I haven't had a chance to read through it But uh, and that might not be the document But I know that there is documents that are already printed and already laid out that talk about the annual Um methodology that's being used there the percentages one stock can't be more than x or what have you I don't know what those rules are john, but that's where I would start Uh looking and that was just simply based upon her comment And her comment was talking a little bit about that, but she was really aloof with regard to that So that's one element a great Thought process by one of our dinners mr. Bill inside the tigers den one of my wingmen always let me know when i'm on the wrong screens Right now. I should be on a screen that shows the qqe w So mr. Bill said, you know one way to resolve some of those issues just some of them right because this doesn't represent the naztec 100 but to try to get a feel for signals and I agree with this is to look at the equated version of the etf qqe w And that's what we do have up on our screen right now So as we take a look at qqe w might as well go ahead and do the analysis What you can see is that there's going to be a td9 count pattern that will confirm today That'll confirm as long as price is able to close above don't know whether it will or not But as long as price close above 109 64 you'll have a td9 count top All right if price doesn't rally and get back to the gap that it created you'll have a confirm roadsmintum indicator top You'll have a three river morning our evening star You'll have a gap to the downside And so the issue for qqe w folks from a daily standpoint is going to be that green oscillator and changeline Pulling back and testing that does not make it a top that just makes the retracement back to support A close below that says all of a sudden the qqe w has lost momentum the number to watch One 10 53 today that number will change by pennies as price moves up and down But use that as a pretty good guideline the weekly chart for qqe w will complete a td9 count top this week That says if price takes out this week's high the current high I don't know whether this will be the high come the end of day tomorrow enough But right now it's 1208 price takes that out when I mean takes it out I mean close above it the following week tells you about a strong upward momentum move for the weekly time frame Monthly chart is the weak link out here because it doesn't show any sign Of bearishness it shows that it wants to go tackle 1863. So how do we how do we make hay out of that? I think longer term that's in fact what the qqs are telling us but shorter term and shorter term could be between now and december Between now and and not december between now and october We could see a market in the nasaq that wants to move lower now. Why that time period? Well that time period because Let's just pull this over here because of the seasonal pattern or a seasonal pattern, right? There's several seasonal shoot whenever I do this. Okay. I got to put this on a different I don't know what what this is doing with my screen, but let me put this on a different screen Um, we'll go back and we'll take a look at it Give me a moment here shift screens screens. There we go. So here. This is a the nasdaq 100 over a period of 37 years That's all the data that we have the red line the red vertical line is today It gives you a ton of information over 37 years tells you the worst days for the nasdaq 100 our mondays and fridays best day wednesday If we take a look at the um monthly chart worst month september all the other months not too shabby This tells us that over a 37 year period. We are now in the unfavorable seasonal cycle What's that mean? That just means we're in the unfavorable seasonal cycle and if price starts taking out highs out there or taking out Topping patterns. Well, then that tells us that the seasonal cycle hasn't kicked in. Maybe it's a different seasonal cycle Maybe it's only a 25 year seasonal cycle. Well, the 25 year seasonal cycle says we should still expect to anticipate a mark to move Lower into october. Well, maybe it's not a 25 year. Maybe it's the 15 year cycle that's out there If we take a look at a 15 year cycle says we don't really top until next week And then we move sideways, but basically we top we move sideways into august Then we take a nice with moved down into the october november time frame How about a 10 year cycle out here on a 10 year cycle says basically the same thing says we top out here Shortly, maybe the end of this week really next week We move kind of sideways and that could possibly be the case how we know if that's the case or not Well, now we go back to the nq charts out as long as i'm on this screen We take a look at the daily time frame for each of the equity future contracts So we do have rebalancing going on but what we do have That we can rely upon our task market profiles. So perhaps during this time period here where john I meant the uh Where john was talking about the rebalancing inside the nasdaq 100 And not being able to compare apples to apples because we have different constituents or different weightings with inside there What we can do is at least rely upon support and resistance levels and that's where the a task market profiles come in So we already took a look at the qq e w you already know for me This whole week We've been talking about potential top for the s and p and for the nasdaq just those two indices at this stage here But we'll go take a look at other ones So now what we've got is we've got a new market profile A new market profile is attempting to form attempting to perform because i'm using my advanced Doppler tool So what does that mean that means that uh right now? We know that the support zone for the nq is between 15 586 and 15 681 The price closes below that it signals to us or at least two consecutive closes below 15 586 That would signal to us. We likely have a change in trend now. We won't know this till tomorrow We won't know if 15 586 is really the support level or not this profile could go away It has already shifted There's also a new profile and the e s many the s many has resisted at 46 0 9 and its support zone is between 45 0 7 45 24 I know rebalancing going there, but still you would be using that to identify the bottom We have valid potential tops inside the e s and the nq you get various reversal candles today And both of them on a daily basis will generate rogeman dominicator tops The uh russell 2000 will go take a look at that. I believe that may also have a top You can see there's the a to b equal cd patterns That still need to be completed. Perhaps the russell has a target of 20 30 The dow has a target of dow equity future contract has a target of 35 6 33 So far the high 35 5 16 is that close enough? Probably not out there, but if we switch over to my other charts And i'm going to switch greens here momentarily we get to the white background charts Let's see what other patterns might be going on if anything for the dow and the russell We take a look at the russell 2000. We see wave number 6 s letter g Today is likely going to form bar 8 of a td 9 count pattern That says we could get a confirmed td 9 count top and the russell 2000 tomorrow To potentially join a rogeman dominicator top in the e s and the nq The dow needs a bearish reversal candle to basically sell the generating cell The 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 xa u h ui g dx 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 tfnn has just launched their new trading room the tiger's den hosted at discord tfnn has been educating traders for more than 20 years with live programming hosted by a variety of professional traders during market hours And now they are expanding their reach with the tiger's den available to all tigers and tigers for just one dollar for the year There's no catch or added costs when you join our community of traders in the tiger's den You can look over the shoulders of tom o'brien and the other tfnn hosts while they analyze charts during their live tiger tv programs And join an interactive trading community with hundreds of members exchanging ideas Interact with other tigers and tigers as they share trading ideas news analysis and discuss the market action all trading day Even at night and on the weekends the tigers den at discord is accessible on mobile or tablets as well So it's always at your reach to sign up today and become a part of this educational community of traders Just visit the front page of tfnn.com 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 tfnn airs live financial content streamed live on tfnn.com and tfnn's youtube channel with tiger tv Live every market day from 8 30 a.m. To 4 p.m. Eastern for free Each host is an experienced trader and gives their take on the market while taking calls and questions live from around the world From the moment the market opens until the closing bell sounds tiger tv has eight different shows with expert hosts To help you make the right moves with your money. Watch online at tfnn.com or on tfnn's youtube channel And become the investor you were born to be tfnn educating investors Don't forget you can listen to tfnn live on your mobile device 24 hours per day Go to tfnn.com and hit watch tiger tv. That's tfnn.com and hit watch tiger tv Welcome back up folks. So I found this here during the break. I again having a chance to pull the back up This is the nasdaq index methodology nasdaq 100 index. This is coming from the nasdaq website out here It talks about rebalancing throughout this the calendar rebalancing and so forth So this might be a place just simply to start with regard to With regard to trying to figure out how that rebalancing might take effect out there Let's get on to some questions some additional questions that have come in This would come in from nicholas and nicholas asking where's the next level of support on the smh's turns out. Well I'll I'll I'll show you that visually in a moment here. We'll take a look at the smh is yesterday Price generated a roadsman to indicator top was a bearish reversal candle bearish engulfing candle that confirmed that roadsman to indicator top And uh, nicholas is exactly right. We need to understand where support is that out here on a weekly base You can see you're going to get a td9 town top completion this week If we did get a bearish reversal candle that would confirm a roadsman to indicator top as well And on a monthly basis prices running into the swing point from january 2022 that did 160 million 160 million shares were done there this month. We're in the 20th 76 million this is pushing into a swing point with light bulbs the smh's are signaling to and I That they may have topped out here But if they're going to top they've got to bust through support And the question was where is that next level of support? And the reason I'm going to switch charts here is because there's a new profile that is formed or has formed this one is formed support out here 15397 below today 15391 So to answer your specific question, nicholas, where's the next level of support for the smh's it's 15397 You were correct earlier when you sent the email to me You thought that the first level of support would be 155 94 and then the second level would be 152 46 And he was just simply looking at profile levels in 150 14. You are absolutely correct on that It's just that now What you can see and you're referring to those old profiles that are in there Now we've got new information for us and that's the new profile So the answer to your question was revealed by those new profiles That even I didn't have until we pulled up this chart here and that's at 15397 I would say if the smh is closed below that then the next price target becomes 149 and change That's the weekly oscillator and change line 140 oh four is the top of the weekly I'm sorry top of the monthly profile out there. So that's what I think that we're looking at watch 15397 Nicholas, thanks much for the question about the smh's and support because that's going to be very helpful To helping us identify what the market's intent is The next question coming in from Leonardo this was sent in a couple days ago. I meant to get to yesterday my apology But it was with regard to the cues Leonardo had been in the cues He sold that out and a specific question is do I see the tqqq pulling back to the $25 area? Well, I can see it. But boy before that happens There's a lot of support levels that have to fail So why don't we do this Nicholas for your purpose? I'll take a look at the tqqq But we're really going to go take a look at the end cues out there and take a look at What is it that we need to be watching for today? But in in in the tqq instance out here that is confirming a roadsman to indicator top at this date because of its gap to the downside Its next level of support is 4094 and that is well, let me just make sure that there is no new profile out here Let me just put this on my other screen. I should be on the white ones. Am I on the white one? And I'm not I'm on the black background screen. So let me switch over to those but here So there is a new profile. Okay, great. So on the tqqq The new profile bullish and structure is between the range of 43 22 and 44 bucks So that is your support level on the tqqqs. Could this be a buyer? It could It could I'm not telling you to buy it though But your support zone is 43 22 to 44 bucks even steven inside the tqqq I'll switch now over to those white background charts here in a moment You'll be able to see the roadsman to indicator top and we're also going to go take a look at the nq charts So here you can see the gap to the downside and that there was a roadsman to indicator signal that had been triggered Now let's go take a look at the nq. Let's take a look at the uh Let's take a look at daily and the intraday charts out here You can see on the daily type frame you could generate a evening star pattern three river evening star That would confirm a roadsman to indicator top. So what's that mean? That means a level of support here inside the nq remember There's a new level of support right there. We're looking at a new profile level So only a close doesn't show on this chart because i'm using my advanced doppler two on the black background charts 15 586 that's the number right now to write on your pad of paper tomorrow Morning, we'll know if that number is a solid number or if it has shifted Let's assume it's solid and price closed below that then the next price target area is 15 344. That's on a five hour chart Five hour chart has a roadsman to indicator top prices below profiles. That is the target zone The four hour chart has a roadsman to indicator top price below profiles 15 479 is its target The 120 minute chart negated a td9 count bottom His price target is 15 676 you close below that that suggests lower price lower price 15 546 The 60 minute time break chart has made its way to or almost to It's one to one a to b equal cd pattern If we get a bullish reversal candle the next 24 minutes That would be a 12 noon on this hourly chart You would have a garly by pattern and that would then suggest a counter trend rally up to about the 15 8 43 level Where i'm going with that is the red oscillator and change line on a 30 minute basis I've got nothing although if there was an a to b equal cd on the 60 minute There certainly was on the 30 minute. So the 30 minute has a confirmed by the d-point pattern That says we should expect this rally to move up to 15 785 if i'm not mistaken We saw the 30 minute profile was in a bullish moe and at least at the time. Let's see if it still is Is this it? Well, that's not it. I probably Get rid of it. Did I get rid of it to not hog resources? I did so I can't go back I mean I can but i'm not going to at this stage here and going to waste resources But 15 785 is likely where price is headed to and then if the price can get above that You've got a further rally and that gets at 15 8 43 area So leonardo do I see getting back to 25? Those are the t q q q's There's so much other work that has to be done before that takes place Let's just take things one step at a time Alton wrote in and he want to take a look at intel out there So let's go take a look at the charts for intel intc is a ticker symbol and let's also Read alton's question And the question goes like this If time permits, can you have a take a look can you take a look at intel? We are on counts I'm considering adding some to get exposure to semiconductor Next how do you see it and where are the battles ahead so the battles ahead so prices trading below support The battles ahead are 34 19 34 54 and 35 18 and 35 18 is the big battle The big battle i'm looking at the daily time frame Alton and the reason why that's the big battle is price has been below the bottom of Bull structure profile for more than two consecutive sessions been for really a couple of weeks out there on a counter trend move That is the key resistance level 35 18 a close on a daily base above that level Says it wasn't a counter trend move and price moves up to 37 11 Is now a time to buy when you're below support on a daily time frame? I'd have to say the answer is no you are above support on a weekly time frame And support on a weekly time frame is out at 3301 3301 is the top of its weekly profile Where's this next battle? It's next battle. It would really have two of them One battle is a swing point it's trading into so the top of that at 37 level would be a battle and in 40 42 Steve Rhodes with tfnn we'll be right back. We'll finish take a look at intel for Alton and try to come up with maybe where's an area for Alton to consider adding or beginning a position inside of intel 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 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 and stock prices Get the opening call newsletter by Basil Chapman and 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 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 Pesavento 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 china a shares hot or not? If you trade china a shares now may be time to take a closer look Trade chau or chad Directions daily csi 300 china a share bull and bear etfs china a shares in either direction Visit direction investments.com today an investor should consider the investment objectives risks charges and expenses of the direction shares carefully before investing The prospectus and summary prospectus contain this and other information about direction shares to obtain a prospectus or summary prospectus Please contact direction shares at eight six six four seven six seven five two three The prospectus or summary prospectus should be read carefully before investing an investment in the funds is subject to risk Including the possible loss of principal the funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor four side fund services LLC This program is brought to you by vista gold traded on the nyse american and tsx under the symbol vgz Take a look at the seasonal stock chart for intel This is for alton who wrote annie's looking to uh, this the question was basically where What's it? You know, where's a price level to uh begin a position inside of intel We know that intel did form that td9 count top on a daily time frame We looked at that it's all it's generated a sell the d-point on a weekly time frame out there And here we could see intel has entered its unfavorable seasonal cycle as well That began a few days ago right around july the 16th that unfavorable seasonal cycle runs into october 27th out there So I'd just be careful here alton You know, you asked me to give you a price if I was going to give you a price out here We go back to these white background charts I'd have to say I'd be looking maybe at the breakout level of 30 68 But I really want to understand what's taking place at the hammer candle from june july 6 Is price breaking that with more than 41 million shares? If it does then you've got an a to b equal cd to the downside We don't have that pattern right now, but we're certainly not at a level of support. We're below support We're going into an unfavorable seasonal cycle here. So I would be cautious with regard to intel So I hope that helps y'all and alton. Thanks much for taking the time to write in Lee b wrote in and he wants to take like a spidey spd e s p s d p i So, well, let's take a look at this. Let's see what this is s d p i It is the superior drilling products out there perfect. So Lee's question is Currently long and would like your opinion on a short to intermediate term cell point Okay, so short to intermediate term cell point when we take a look at these stock charts out here for s d p i That's for superior drilling products. I could see why they're superior looks pretty good to me on a daily time frame You're trading above the top of its profile. Uh, it has a roadsman to indicator signal triggered Um until it gets a bearish reversal candle This thing wants to continue to move higher. You're long. So congrats there And if you did get a bearish reversal can on a daily time frame that would then be your short term signal That price is getting ready to pull back pull back where well First we get to get that daily But the areas we'd be looking at would be the oscillator and change line of the profile levels Currently 145 of 141. That's not what we're saying If I look at a weekly chart, you can see a nice a to b equal cd pattern is underway That needs a bearish reversal candle to confirm atop the b point out here on a weekly basis did volume of Like to tell you what it did volume of 647 thousand shares when it was passed When it was closed above it had done 403 363 1 million shares So we're going to say it's got that confirmed a to b equal cd at the upside again You need a weekly bearish reversal candle to confirm atop there And the monthly chart price is above profile above the center of its bullish structured profile And lee you've listened to the show long enough You know what i'm going to say next when you close above the center of a bullish structured profile You typically go to the top of that profile. That says over time Superior drilling products is likely to go tag 238 Do I don't see any sign of any kind of a topping pattern here for sdpi? And you're above resistance areas the only level of resistance that is left for me to take a look at is at the 238 area On a consecutive days up and down out here. You are in looks like day number four to the upside We've seen as many as six out here recently So we should see some type of pullback that begins. I'd say by monday or tuesday of next week out there So lb. Thanks so much for writing in I guess lastly. I just see if this does have a seasonal pattern It's certainly it does. I don't know whether we have the seasonal data sdpi That's really what I was trying to say. I just didn't do a good job of it, but it does have it So let's take a look how much do we have how many years we have nine full years And uh, this is kind of in the sun favorable seasonal cycle that typically lasts through about the august time frame But when we took a look at that stock chart, it doesn't give rats patootie about that seasonal pattern because that's not the pattern that's in right now So we'll just ignore superior drilling products with regard to its seasonal Patterns out there because it just doesn't like those All right next question coming in from bobbin's bocan inside the tiger's den bobb wants to take a look at petra Ptr a is the ticker symbol actually Let's actually find out what the name of that is that is pro terra and not too far off So let's take a good pro terra. Let's get the stock charts up on our screen That would make things much easier and that's not the set of stock charts We want let's try to find the correct set of stock charts tb traded out of buck 73 And it's in bar number nine bar number nine bobb You know what that says that says we should see a short term top form between today And tomorrow and that's short term top should take us back to support Support on ptr a is all the way back to 139. That's the top of its profile The ultimate level of support would be a buck 32 was a bare structured profile You closed by yesterday the day before that tells about a strong moment to move to the upside But we have a topping pattern that is also going to form today complete tomorrow Unless that gets taken out So whatever the highest high between today and tomorrow is if that gets closed above on monday Tuesday of next week tells about a strong momentum move and that would then tell us bob about a move to 243 But it looks like that moved to 243 is going to be put on hold After tomorrow's session and we get a pullback out there And maybe then you would be taking a look at adding to a position or beginning a new position inside of ptr a The monthly chart doesn't provide me with a ton of information at this date here What it does look like to me is that that this And i'm not even going to go there and we're not going to go there stevy So we've got enough information on the daily and the weekly out here It looks like you're getting ready to form a short term top should pull back to test support And then if support holds you should see a move up to 243 That's the top of its weekly profile. So I hope that helps you out Thanks much for taking the time to write in i've got another question here from tom g tom nice to uh hear from you It's been a while et he ethereum is what tom is writing it about and the question goes like this You just exited et he yesterday you're looking to see what do you think about a re-entry point? Hope all as well it is been away from the markets for a bit Well, I hope you're doing well and thanks much for coming back to the markets and more importantly for uh, uh, sending me a Email question. So with regard to ethereum out here if it's pulling back The first level of support for ethereum that I see is 1115 And 1115 is that green oscillator and changeline? So that's your first level of support below that would be the market profiles and the current daily market profiles run from 982 at the bottom 1013 at the center and 1044 at the top if I open up this stock chart on a daily time frame what I don't see When I don't see is a topping pattern doesn't mean you shouldn't have exited the position This means I don't see it on the daily time frame out here So no guarantee that we get that pullback when I look at the weekly time frame chart for ethereum What it is doing is it's trading above prior swing points You already know that looks like you want to target the 1354 level that's its next td nine count breakdown area It did form a nice roads meant to man td nine count and wave seven bottom That was back in january of this year out here. So it looks like this once said to 1354 your specific question was Looking to see what you think for a re entry point and the monthly is Suggest that it wants to trade higher 1901 being the price target because price is above that oscillator and changeline So you want a good entry point? Who wouldn't like a good entry point and I'd love to give you a good entry point Can I find a good entry point? Steve roge with tfn and we'll be right back. We'll take a good theory and we're looking at the 30 minute chart right now That's got a td nine count pattern So let's take a look at that. We'll get back to the spring If you're looking for potential trading setups in the stock market then rocket equities and options report is a newsletter You should try tom. 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We're looking at ethereum for tom g. He's looking for an entry point He was long ethereum now I don't have a topping pattern on the daily weekly or the monthly time frames out there So it makes it a bit trickier What I'd be looking for some type of pattern on the short term time frame such as I mentioned There was a td9 cowl bottom that had formed out here. This took place at 3 30 yesterday afternoon We've seen a rally not until that bottom gets taken out That low by the way is a 10 99 if that were to get taken out and it could because price is below profiles right now If that gets taken out you would then generate an a to b equal cd to the downside With a price target of around 10 30 or so 10 30 to 11 10 11 out there now the reason I was looking at the 10 number is because At 10 44. It's the top of the daily profile. So the first level of support tom is going to be 11 15 Well under 30 minute basis the level of support was a td9 cowl bottom pattern that had that uh, That had generated here But beyond that on a daily time frame it's 11 15 and below that 10 44 So at this stage here, I would I'd still sit on my hands and see how that 30 minute chart plays out there We've had two consecutive rallies two consecutive day rallies. So not really a reason maybe we're going to get a two to three bar Pullback that would be pretty normal It looks like three bars two to three bars is the normal time frame for most instruments as well So I'd I'd wait for tomorrow perhaps on a monday to relook at that. So I hope that helps you out tom Thanks much for taking the time to write in. What's the lesson? What can I leave you with? What can I leave you with and I don't know what the answer is there? Let me look at these 120 minute time frame charts make sure i'm on the same page so The 120 minute charts are the ones that are most interesting to me at least for the esenq and the russell to get rid of some noise out here In the case of the es mini prices below support So it could be signaling to you and I wants to get down to 45 44 We're below support. We broke a pattern on the 120 minute. It was a td9 count bottom your below support Which is profile so 15 676 is its target you get below that on 120 minute time frame And I can tell you I don't believe we have broken through since the bottom A 120 minute time frame td9 count to breakout level out there. So watch that 15 676 25 level For the enq lucho important folks stay tuned for great program and I'll be back with you on fantastic friday Please have a terrific thursday Take care