 Educating Investors. 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 afternoon, folks. Welcome to the July 8th. 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's having a great day. Hey, let's make sure we have an extraordinary one. 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, which we can find the gift in every set of circumstances, 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're going to 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. I do want you to know I'm absolutely grateful for your presence here. But more important than that, and that's this. We're in the next 53 minutes. I'm here to serve you. So feel free to pick up that phone. You can dial on it at 877-927-6648. If you can't dial in, we've got you covered there too. Let those fingers do the walking. That means go ahead, send me an email. Send it to Steve at tfn.com. And inside the subject heading, please put radio show question. Of course, inside our Tigers did well any and every 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 Let's Show right now. We've got all the US indices that we track trading the downside. A little bit of a sea of red out here, but we're going to go figure out what in fact that means. You've got the Dow down 81 points, quarter of a percent. S&P four-tenths or 16 points to the downside. NASDAQ five-tenths or 66 points. Russell seven-tenths, 13 points. Eight-tenths for the semis. That's 21. Eight-tenths for the trannies. Now that's 110 to the downside. Gold's up 90 cents. Silver's up or off basically flat. Let's recruit up a buck 72. Natural gas off 21 pennies. 30 or treasuries off one point and 16 30 seconds. She's print out at 136.29. Leading the charge right now. Dollar wise the upside. I rhythm technologies got a good rhythm going up 25 bucks or 22 percent. Tesla 13 bucks the upside nearly 2 percent. Kura Sushi. Well, I didn't know we had a publicly traded sushi company out there. Now there is a, if you're in New York City, there is a great sushi bar. It's called Kura. I'm positive it's not the same company out there. It's kind of a little local place. In fact, there's no sign outside. Just a little typical curtain that you'd have out there. But if you're in the New York area, I absolutely recommend going to that one. It's a, that's a great sushi bar. But anyways, Kura Sushi's up 13 bucks or 25 percent. Steve likes to see that. Tesla's up 13 bucks. McKesson Corp is up 11. Humana is up 10. The downside is booking holdings off 27 bucks. WD40 is the next one. That's $26. Actually, that should be up the number one. That's down about 26 bucks or 13 percent. Mercado Libre off 19. Pool Corporation down 12. Estee Lauder down 10. So we've got some instruments to look at across. I want to look at what you want to look at. Let's begin by trying to answer the question. Hey, Steve, what are the markets doing? Excellent question out there. So let's go take a look at the time frame chart that I think is the most important one. To be monitoring this is going to be today, Monday, Tuesday, and so forth. I don't know if we'll go to Tuesday, but it's really the five hour time frame charts, otherwise known as the 300 minute charts. And we've got the equity future contracts up on our screen right here. Now, why is this important? Well, first, if we take a look at the ESMini most recently, we'll get my cursor out here. You can see there was a TD9 count top this form earlier this morning. I take that back. That was late last night. That was at 5 p.m. And all that's led to is really sideways movement to really attest that green oscillator and change line. And as long as price remains above that level, that level, by the way, right now is 3877, this time frame will remain neutral, not bullish, not bearish, neutral. Why? You got a valid TD. You got a top out here, but you've got support that's holding and price is actually above the top of its profile as well. Now, if price is able to close above that high, and I'm not talking necessarily today, but high, by the way, is 3914. That will negate that pattern as we head higher. Well, you've got a TD9 count breakdown level of 3950. So the real level that price has to get through on a five-hour time frame is 3950. Now, what happens if price close below the oscillator and change line? Then you're looking at 3852 as a possible support level, 3821, and then finally be 380875. Shift over to the NQ. The NQ did not form a TD9 count top yesterday, like the ESMini did. However, we can revert back to the TD9 count top that is still in effect out here. And that's the one that formed at about 9 o'clock in the morning on June the 27th. And that says that it's that high that needs to be taken out in order for the NQ to get back to its bullish ways. That high is 12262. So you certainly want to watch that. Fair enough to watch that. Sunday night, early Monday morning out there. So at present, what do we have inside the NQ on a five-hour time frame? Not much. What we really have here is price testing. That green oscillator and change line is kept its momentum to the upside out there. It's nothing on a five-hour basis that is bearish, really, about the NQ. If we take a look at the Dow, the Dow at 2 p.m., we'll complete a TD9 count top. And so what we can see here, bar number nine completed at 9 a.m., 2 p.m. is gonna be the following bar number nine that completes the pattern. Prices above its green oscillator and change line, which is 31, 213, as long as that condition remains, then conditions will become neutral. The Russell 2000 has no topping pattern in place other than taking us all the way back to June the 28th. Out there was a 28th, let me make sure. It is June the 28th, yes it was. When it formed erosement to indicator top. What that did was that took price back to its breakout level. That's at 1670, 20. Again, nobody with inside the TFNN family would have chosen 1670, 820 as the breakout level out there. So you wanna understand your TD9s. Just sign up for Mastering Probability. You know, you can do it for more than a month if you'd like, but if you do it for less than a month doesn't cost you anything and you're gonna pick up a tremendous amount of education. And the workshop will probably answer questions that you might have while I'm even speaking about this pattern out there. Kill resistance level inside the Russell 2000 that needs to clear in order to say it's on its merry way to the upside is 179510. Now of course you might be saying, hey, Stevo, you're talking about all this merry way to the upside. I have a bearish outlook and why don't you? Well, that's a great question out there and the reason that I don't is because the charts don't. What do you mean the charts don't? Well, let's go back to the black background charts out here and here's what I'm going to share with you and that's the following. One, here are the daily timeframe charts for the Dow, the S&P, the NASDAQ 100, the Russell 2000, the semiconductor, and then you've got the New York Stock Exchange. You'll see the larger A to B equals CD patterns out there. Each of them have completed. And what Stevie means by completed is they've formed the bullish reversal candles at the completion of that A to B equals CD pattern. So that's number one. Now, you know, just because we have that on a daily basis does that mean that we've got some type of bottom out here? The answer to that is no. So what do we do? Well, we go take a look what's going on on the weekly timeframe out here. So now we're going to go ahead and shift back to the other charts or the white background charts because here I can show you the Rhodes momentum indicator bottoms. And what you'll see are the top four or the indices that you and I can trade, the Dow, the upper left, the S&P next to it, the NASDAQ 100, the Russell 2000, each of them have Rhodes momentum indicator bottoms. Now I take that back. The Russell does not. That has not given us the bullish reversal candle, but the Dow, the S&P and the NASDAQ have. Now, the key level in order for a rally to sustain itself and continue to move forward is going to be those weekly oscillator and change lines. Which this week so far, the NASDAQ 100 has hit it and it has rejected it. Does that mean we're going to head lower? No, it doesn't. Look at the NASDAQ composite. It's sitting on it right now. If it closes above that this week, that says we move higher and we move higher for two to three weeks. Steve Rhodes with TFNN. We'll be right back. Booming inflation, we are purchasing powers eroded. There's no better place to protect your hard earned money than in gold. 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Steve won the prestigious Timer of the Year award in 2018 and barely missed that mark again in 2019, finishing at number two for the year, an amazing accomplishment. Steve Rhodes is committed to sharing his techniques and knowledge with anyone who wants to learn and he shares his vast amount of trading knowledge every day in his Mastering Probability newsletter. Steve's award-winning newsletter, Mastering Probability, is delivered every trading day with updates throughout the afternoon. Sign up for Steve's market newsletter, Mastering Probability and you'll receive access to seven of Steve's educational webinars absolutely free. At TFNN, all our newsletters come with a 30-day money-back guarantee so you have absolutely nothing to worry about. Visit TFNN.com and try Mastering Probability 30 Days risk-free today. TFNN, educating investors. 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 to give you the competitive informational edge you need to succeed. These newsletters are packed full of Tom's advanced technical analysis and are geared to deliver comprehensive strategies for a successful portfolio. Get Tom O'Brien's newsletter, Market Insights today and try all of our products and newsletters 30 Days risk-free with our Money Back Guarantee at TFNN.com. TFNN, educating investors. Toll-free at 1-877-927-6648 internationally at 727-873-7618. Well, I had to check out during the break Kura Sushi just to see what it was. It's a conveyor belt sushi restaurant out there. And actually there's one down in the Miami area. Not that I'll be checking that out. So that's kind of, they advertise it as nothing but the great ingredients out there. But it's interesting in Japan, now this goes back about 20, 25 years ago, I did visit a couple of those conveyor belt sushi restaurants there. And even in Japan, it was kind of suspect out there. But that's what Kura Sushi is all about. That's different than the Kura that I'm referring to down in New York. Of course, I haven't been there since COVID. I hope they're still open. I didn't go check that out. But if you are in that area, check them out. That is a great sushi bar for sure. So I mentioned as we were coming to the break that we should expect or anticipate a rally for the next two to three weeks out there. And I'm sure somebody was like, now wait a minute here, Stevie. First of all, I wasn't even buying into the mere fact that you think that the markets are going to rally because I'm bearish out there. But now that I listened or I took a look at the charts out there with you, I get the point. I get what it is that you're saying. Now how in the heck, Sam, heck that is, did you come up with a two week rally out there or two to three week rally? Now, those of you that listen to the show, you already know the answer to that question out here, but maybe you weren't listening when I was speaking. Maybe you're just new to the show out here. And the way that we come up with that is just simply by looking at chart patterns. That's really what I do. I am a pattern recognition individual out there. And as we take a look at now, this is the S&P 500 where we're currently at. And we can see from the top that formed out here, this is the top back in the end of the year. We can see that we've had two. Now this is looking at a weekly chart, by the way. This is for the S&P 500. You can see that we've had two counter-trend moves. One lasted two weeks. That's one that ran into February 4th and the second one was a three week rally. That's the one that ran into April Fool's Day out here. So we've got, this is going to be week number one. This is going to be a close this week, or it appears that it'll be a close this week above last week's close. That'll be bar number one. Odds favorite two or three. Now I know some of you are saying, hey, Stevie, give me a break out here. That's two examples. What happens in bear markets? Well, that's exactly how we really came up with this two or three bar rally out here. So great question. But just so that the charts will prove it to you, this is not giving you my opinion. This is just buying that. This is just simply my narration of what the charts are communicating to you and I. So here we go back to the 2007 bear market. And what we can see out here, look at all of the two, two, two, three, a three, a two, another two out there. Two to three week rallies in bear markets as a counter trend move out there. You might say that's still not good enough for me, Stevie. I need more. Okay, so I'll give you more. Now we're not going to waste the entire show on this. I have taken this back all the way to 1896. Take a look at all of the bear markets out there. And guess what we have here? The same kind of thing. Now if we take a look at the 2000 bear market out here, we had a few four week rallies or four bar rallies out here. Well, most of them were three bar rallies. Now, when I say three bar rallies, what I'm referring to here is just simply looking at the close of the prior week versus the close of the current week that we're in our current day. We could do this on monthly. We could now tends to work better or best on a weekly timeframe out here, but you can see the bear market rallies that occur. And so we've got the bottoms on the daily. We have the bottoms on the weekly out there. And so what we should see is a two to three week rally out there. It could last two to three months, by the way, but right now we're just simply going with the two to three bar rally out there. In fact, let me do this here. I saw some comment inside the Tiger's Den as I was turning the system on. I know Jimmy or somebody that astutely identified and said, hey, looks like we might be in the fourth day to the upside out here for the S&P 500. Now I'm switching this to the daily timeframe and we actually had day number four took place when I look at the S&P 500 yesterday. That's again, comparing the close of the current day versus the close of the next day and so forth out there. Now, if we take a look at now, what this suggests to you and I, and what we're seeing in the market today here, which is just kind of a, not much at this stage here and unnecessarily expecting the S&P 500 to close higher today, not that it can't, not that it shouldn't, but typically what we see out here during these daily counter tread moves are about four bars to the upside. So don't pay attention to these black arrows out there. It doesn't change when I go from weekly to daily. It keeps that drawing tool out there, but you can look at the charts here. You can see this four day rally back in March, March up to March 18th. The next day was a little bit of a doji, kind of similar to where we're at right now. Now it's not the end of the day. So I don't know what type of candle we'll end up with. If it is a doji candle and it's got to be a real doji, not a fake doji. That means the open and the close basically have to be very close to each other, if not the same out there. If we do close above a high of a doji, then that tells you that resistance is as a failed and price would move higher, but you can see even on a daily basis. And so I properly identified and astutely identified out there whoever that was, my apology, I didn't note it down. I just saw something fly across the screen and it was just really getting ready for M squared who had asked about these two to three week bear market rallies out there because he just wanted to know why I would say such a thing. So now you know too. So what do we want to do next out here? Well, I think we've kind of taken what we should do is go take a look at just to finish this off is let's go do the play by play. What do you mean? Let's go do the play by play. Let's go take a look at the shorter time frame charts because really I've given you the bigger picture out here. Let's go take a look at the shorter time frame charts here for the S&P Fund for them. Let's just stay with the ES mini. We're going to get that up on our screen here. Now you've got the daily on the left. You've got the five hour chart, which we've already covered the TD9 count. So we're going to pay attention there. The two hour time frame chart has a TD9 count pattern as well. Price is finding support in that 3881 level. That's the bottom of its profile. The 60 minute time frame chart has a TD9 count top and now it's got a Rosemont Dominicator top. We can see that today prices move lower when it's moved lower, it's found support right at the bottom of that profile. That's at 3878. So that's really an area to walk to the downside. If you're a day trading out there, if you do see a close, not a move, but a close below 3878 odds favor, I'll move back to 3849.50. None of this changes what you and I've already looked at out here, which is to expect a two to three day rally. And even if the market finishes lower today, thanks to whoever put that inside the tiger's den that forced me to go take a look at the daily time frame with you, that's just normal. That is just normal. That would be normal out there. So don't think it's curtains and the markets are getting ready for the next move to the downside. Now not that they can't, but I'm providing you with the evidence. Look, I'll provide you with the evidence. You be the judge in the jury out there as to what that means. I share with you what I believe that it means out there. And we just simply go from there. If we look at the other short-term time frame charts on a five minute pace, let's say you're a real short-term trader out there. Well, the five minute time frame chart generated that TD nine count bottom prices that's taken price up to its oscillator and change line. You hear me refer to that, that line often during the show. And it's just one of the most cool tools that you'll ever encounter. It assists you, it helps you to identify where price is headed to. Doesn't tell you whether price will take that out or not, but at least you have an idea as to where price is headed to. Maybe tighten up the stop or what have you. Now in this case here, in order for the five minute chart to get its mojo, price has to close above that line. That line right now is 3892. If it does close above that, then price is going to make a run to 3899 or 3903. And if it closed above 3903, 3917 would be next up on the queue. And that's coming from the five minute time frame chart. 10 minute chart out here. I don't have any signals worth sharing with you. George, do I end the 15 minute chart? So it looks like we're all set here in covering the general market. So we get back from this breakout here. We've got a couple of requests, several requests so far. We've got one from Mike wants to take a look at wheat. Hector wants to take a look at Taiwan Semiconductor David in tell or into it. Maybe we're going to take a look at all of it. If you want to take advantage of this sector, now is the time to subscribe to my gold report. The gold report is a comprehensive look at the metal sector as well as the markets that move gold, which is the currency and bond markets. New subscribers get a 30 day money back guarantee. 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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 4.00 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. This segment is brought to you by Think or Swim. For more information, just click the Think or Swim banner on the front page of TFNN.com. Welcome back, folks. Let's get to a couple of our questions. A couple that came in from the Tigers and we get to those first. Just be easier for me to do that and won't lose my place. So the first one was from one of our traders, Ninja, out here. Want to take a look at the seasonal chart for gold during the midterm election seasonal cycle. So cur, cur, ninja. We've got this, the 50 year timeframe out here and what is selected here. All of the dates are all the years where we had midterm cycle elections. What this chart shows, so the red vertical line out there is today. Typically what this tells us on a seasonal basis is that right around July 5th or 6th is when a bottom should form inside of gold that would then take us higher into about the early part of September out there. So that's what the seasonal cycle tells us. Here, if we take a look at typically by day performance, Fridays are always a good day in gold out here during this midterm seasonal cycle process. So just something to take a look at. If we take a look at during the seasonal cycle, you've got May and June, which typically are lower. And then you've got July, August, September, and so forth. Now, if we can take a look at what that cycle would be, if we don't use the midterm elections, let me get back to the 54 year. Even in that case here, you can see that gold typically forms some type of bottom around July the 6th and then continues to motor on higher. So Ninja, that's that pattern, but it did gold bottom. I mean, the seasonal says you expect and anticipate a bottom around July 5th and July 6th. So the question is, did it form a bottom? To answer that question, all we've got to do is go take a look at the daily timeframe chart out here. So that's what we're going to do and in the upper left hand corner, you're going to see the daily timeframe chart. In fact, forget about the upper left hand corner. Let's just go ahead and expand out the chart. And what do we have? We have a TD9 count bottom that formed July the 6th. Something to think about. So you've got that pattern, what we should see take place and that pattern remains in effect. So long as gold does not close below that low, that low, by the way, is 1730-70. But close below that and negates that signal and then we had lower out there. But right now what gold should do should at least go target that red oscillator and change line that's currently printed at 1774. If pressed yet above that, we're looking at 1813 above that 1848 and so forth. So it does appear that gold has formed a bottom or at least it is following along at this stage of the game with the seasonal cycle that is present in the midterm election cycle process. So I hope that helps you out. That was for our Ninja trader. Let's go take a look at the next question. This is coming in from Peter in Park City. Peter wants to take a look at the advanced client oscillator for the New York Stock Exchange. So let's switch over to that chart and as long as prices above the zero threshold level, then what that is indicating to you and I is buyers are in control of the market. Now that's very helpful when you see a market that's pulling back, is it just a retracement? Is it something more than that? This stage here, it's just a normal retracement after in a bull market, four days of consecutive higher closes out there. So it should take a bit of a rest. But right now the reading on the advanced client oscillator which is the difference between the 19 and 39 day expense moving average of the advanced decline line. That is a monthful. But that's what it is. And you can see right now it is above zero. It's printed out at 61.54. There's no real signals. I know the cool thing about the advanced client oscillator is that one, it can tell us when we're in extreme oversold or overbought condition. We're not there. Now we're not there yet. And when we get down into those areas, we see divergent patterns. For example, last one, we saw price moving lower in the New York Stock Exchange. We saw the advanced decline oscillator making higher lows. That's the type of divergence that you would see at bottom. So there's another bottom signal to go along with the daily by the D point patterns and the weekly roadsman to indicator signals out there. So Peter, I hope that helps you out with regard to the advanced decline oscillator. Let's go to our next question. Our next question coming in from Mike. This is a mountain Mike. Now I don't know if that means it likes the band mountain, which is a great band out there. Friend of mine actually used to manage them. Now I didn't know that. I didn't become friends with this individual until maybe about 15 years ago or so at the stage of the game. But still those guys, some of them get together. Korky, what's Korky's last name? He lives up in Canada, but he used to actually rent a house out of one of the golf clubs that I am a member at and play at. But he was down here just a couple of months ago. Drummer, what's Korky's last name? And anyway, it doesn't really matter. But this is for Mountain Mike. And what does Mountain Mike want to look at already? Get to it, Steve. Okay. What Mountain Mike wants to look at is the ticker symbol W-E-A-T. And the question reads like this. Potentially forming a weekly hammer candle today. So we want to take a look at that. Any indication from your system that an upward trend on a weekly chart could resume soon? So first, here's the weekly chart. I'll just simply expand it out. And this does not meet the qualifications for a hammer candle, Mike. In order for this to be a hammer candle, first of all, the wick itself has to be at least twice the size of the body of the candle. These are these little yellow rectangles here. So just a few minutes ago, I went ahead and, you know, and I copied what the body looked like. And then just simply so that I could visually show you that the wick of the body, the wick of that candle is less than two times the size of that body. Now, typically you're looking for a small body candle, but this does not meet that qualification. So you don't have a, you don't have a bullish hammer candle there. Therefore, without a bullish hammer candle, there's no pattern here. Even if there were to be a bullish hammer candle, there's no pattern that I see. No A to B equals CD and erodesment to indicator bottom. No TD 9 count or anything along those lines. But that doesn't mean that there's not a bottom. And really the question isn't or shouldn't be, what does the weekly chart look like on W E A T, E T F, but instead what corky length? Thank you very much, John. I eventually, my mind can only handle so much out there. And, but in any of that, that was a drummer for the, for a mountain fun guy, party guy for sure. And, but so the question with regard to wheat, Mike, a mountain Mike that you should be asking is, what are the underlying instruments? So here, let me show you what the underlying instruments are. Let me make sure I'm on the right chart here. Yep. And here is, and you can do this. You go up to the tech realm, E T F entity, a website out there and you select on, what are the holdings right now? So this as of, as of this morning out here, you've got three contracts that you've got to pay attention to. So forget the patterns on W A T, go take a look at what the patterns are on the week contracts and specifically the week contracts that make up the E T F that you want to trade, which would be W E A T and that's what we're going to do for you. I'm just trying to get to everything. So here, the holdings are, you can see you've got the September you, the U contract that represents one third or 35% of the weighting of the C T M another 30% comes from the December 22 contract. That's actually the contract that you would be trading if you were trading the futures contract. And then we've got the December 2023 contract, which represents 35%. So you've really got to be keeping track of that because you might be looking quite frankly, you might be looking at at only one contract. Maybe you're just looking at September or something and you're trying to figure out what is this doing here? Well, it's because that would only represent about 35% of the E T F. So now we're good. We know where what what we need to look at and to do that with regard to those three contracts. What we do is we set up a template that template here as soon as I can get to it is going to accomplish that force in the upper left hand corner. You have the September contract for wheat just simply going to expand this out. Why? Well, first, if we take a look at patterns out here, although not drawn in, here's your A point, which was the TD nine count top on May 17th. Your B point was a TD nine count bottom on June the first out there and your C point was the was the rally up into June the 6th. That created a to be able to see the downside. The importance of that is that you generated a three river Morningstar pattern. That meant that you generated a by the D point pattern yesterday. Well, we've we've seen today and overnight we've seen this additional rally. Price is now above its eye center and change line like so we the September contract is going to rally. But if they Peter out when it gets up to the 921 85 level, but there's a September contract. Here's the December. It also formed a by the D point pattern. Guess what? So to December of 2023 out there. That's what you really need to know about wheat. What was going on in the underlying instruments? See roads with TFN and look right back. Are you in the market for buying or selling real estate in the Bay Area, including the surrounding St. Petersburg Tampa and Clearwater markets Tiger real estate LLC is a firm that has extensive experience in the Tampa Bay area. 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This one coming from Hector Hector in a patty Hector goes on to say hey happy fabulous fosters frosty Friday. Now you're making me thirsty. May have to catch a archive today. Well that's no problem. So he's talking about Taiwan semiconductor TSM is the ticker symbol goes on to say TSM the weekly A to B equal CD down by the D point is currently in process correct. And I'm going to say the answer that is yes bullish reversal sign with volume correct. No. Do we do not have a on a weekly timeframe. We do not have a bullish reversal candle at least not yet. So that's important and then you're asking about volume on a four day week even stronger correct. Yes but you've actually made lower lows not higher highs out there. So you know I would I would ask you the question here since you're making a lower low and you're doing with volume you haven't made a higher high are we pushing lower we pushing higher. So just something to think about there. The start to say the chart that so OK I don't need to read the rest of the information. So Hector and Patty first I'm going to open up the weekly timeframe chart. And we're just going to look at the weekly timeframe chart what I've drawn here is a couple different A to B equal CD patterns. So let's take a look at the first one that Stevie draws in the eight points very easy to identify. In fact this is going to use Taiwan Semiconductor for another listener that wrote in and was struggling with trying to figure out the A to B equal CD patterns on the spies out there. So I'm going to just use Taiwan Semiconductor to do that. Now remember when we draw an A to B equal CD patterns were typically using information that is revealed to us you know each day. And as we get more information that is revealed to us that might force us to come back and draw a new pattern. So if we were just like this at this stage here this early stage here we were drawn in A to B equal CD patterns. I'm going to do that right now the B pattern. Well we know the A pattern. It was the high from the week that began January 10th the B pattern at this stage here that I've got is January 24th. Come on. What's the heck's going on here? There you go. And then the C point was a couple week rally into resistance. So you know I happen to have a nice tool the task market profiles and I certainly like to be able to use those to help me easily identify resistance or maybe where we might take a look at a C or a B point out there. But here was the first A to B equal CD pattern and what took place and this is on a weekly chart that we're taking. Here was your bullets reversal candle that completed to one to one level and that price moves up into a slightly bearish structured profile there. So that's the first pattern but there is another A to B equal CD that we can draw in and there's no reason to not have multiple patterns. I know it might be confusing but it is the way that it is I can't change the rule. I could change rules. I'm not going to change rules. We're just going to use the rules that are out there. So the point is going to remain the same but the B point Hector and Patty and and I think it was Laura that wrote in. I apologize if I meant to write it down and they didn't but the B point out here would be the low of March 14th and the C point would be the high of the week of March 28. Now that was only 25% A to B equal CD. The other ones are 46% retracement out there. I'm referring to the B to C leg. I typically like to get to at least a point three A to but that could be the other A to B equal CD on a weekly basis. Now the way that a A to B equal CD pattern. This is the way that I do it. This is what I suggest that you do it as well. Is that you wait for a confirmation that confirmation to some people bullish reversal candle. And so here on that second A to B equal CD which we'd so we're below the bottom of a bullish structured profile and this suggests that Taiwan semiconductor on the larger term maybe wants to go target to 62 38 level. But there's no bullish reversal candle to then suggest like we saw back here the week of March, March the 14th. We don't have a confirmation of a weekly by the D point. Now that could be completely different than what we have on the daily time frame. In fact, it is a completely different and here's the example was going to go to with Laura here. I've drawn in on a daily base that first A to B equal CD. But here we can see the stair step approach to the to the way down. So how do you figure out which A to B equal CD is really the active on the ones that are in play. The answer to that is when I get confused or I and I'm no different than you say which one do we use out here? What I like to do is cut out some of the noise. If you cut out some of the noise, typically it will reveal itself to you. Some of the noise means if you're on a daily time frame chart, then go to the weekly go to the weekly and see if you can clearly identify the A to B equal CD pattern. And typically you'll be able to do that and use that as more of your guideline as to what is going on inside the market when you take a look at daily and or weekly. And the same thing on a weekly if you're confused, go take a look at the monthly. If you're trading a 30 minute, go to a 60 minute. You might have to even go to 120. But if you go to the larger time frames, you'll reduce the noise. Those swing points will typically stand out and they're going to apply to the shorter time frame charts too. Whoo. So hope you help. Well, I hope that helps out. Now what we didn't do is we just focus there on the weekly time frame. So I don't know that we really helped out Patty and Hector out here. What I will share with you is let's go take a look at the daily time frame. So in the daily time frame, we do have a confirmed by the D point pattern. You're going to keep that weekly in the play out there, at least in your mind. So here is the you've also got a rogement to minicator bottom. So it doesn't matter what's A to B city. You've got the rogement to minicator pattern that was formed with yesterday's gap to the upside. You're above profile levels. You are above the oscillator and change line. So Taiwan, Taiwan, semiconductor should continue to rally. It's next price target should be the high from or it should be the candle from June 27th. That's anywhere between 8558 and 87 bucks. Even Steven out there. So after Patty, I hope that helps you out. Let's go on to our next question out here. The next question coming from David H. Dave wants to take a look at I and T use. Let's get that fired up on the screen here. I believe that is in to it. If I'm not mistaken. Great. I and T ups to you. Oh man. What did I do there? Sorry on the wrong screen and did not want to do that. So I and to you is in fact into it. And the question is to give your perspective on into it. You've got the 420 calls expiring on the 15th out here. So as we take a look at into it, here's what we know. Price is dealing right now. Today, David H. With resistance, which is the top of its weekly profile. And that is specifically at the price point of 406 70 out there. If I take a look at the daily timeframe, because I think that's really more important to you than anything else. You've got erodes for back on May 12th. Price runs higher. Makes an A to B equal CD to the upside. Gets confirmed with a sell the D point pattern on June the 3rd. Makes a retracement comes back and looks like it was just simply testing that swing point from May the 12th. So on May the 12th with that swing point by the way had volume of 3.2 million shares. That was test with 2 million shares. So there was your test and rejection. Now what price is doing today? Not much not really. Well, I take that back. It is testing this testing this swing point out here from June the 2nd. So the June 2nd swing point had volume there of 1.4 million shares. You're only up with 5 million shares. This appears to me to be still bullish. Should at least go try it. If it closes, you'd love to see it close inside that swing point. That would require a close above 408 48. You don't have to have that. But you're pushing into that swing point with lighter volume. But you know, other than the resistance on the weekly timeframe should continue to move higher out there with the general markets. With regard to the weekly timeframe, A to B equal CD to downside, that was confirmed a couple of weeks ago out there. So that's following along with what we looked at with the general indices. So David, best of luck to you on this trade out here. Other than the weekly resistance level, it does look like this should continue to push higher, which I believe was your question. We get back from this breakout here. We're going to go take the good roadblocks. RBLX is the ticker symbol. And this one's for Greg Ham. Greg's question is, would you look at this for me? Yeah. I have it coming close to finishing an A to B equal CD up at about the 45, 43 level. You're looking at selling the deep one. But we're going to take a look at that. We get back to this break. Let's see what we can do. Vista Gold owns and operates the largest undeveloped gold project in Australia, the Mount Todd Gold Project. Vista Gold just completed their feasibility study resulting in a 7 million ounce gold reserve. Vista Gold has all major permits approved and has retained CIVC capital market assistance in evaluating alternatives and in completing an accretive transaction. Vista Gold trades on the NYSE American and TSX under the ticker symbol VGC. 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Subscribe to the Fibonacci 24-7 newsletter today. tfnn.com Educating investors. Live programming hosted by a variety of professional traders during market hours. The Tiger's Den available to all tigers and tigers for just $1 for the year. There's no cash or added costs when you join our community of traders. Sign up today and become a part of this educational community of traders. Just visit the front page of tfnn.com Don't forget, you can listen to tfnn live on your mobile device and hit watch Tiger TV. That's tfnn.com. Then hit watch Tiger TV. Welcome back, folks. So we've got roadblocks daily. I turn it up on our screen out here. This is for Greg M. And Greg is trying to sell the D-point. Again, we take a look at the A to B equal CD pattern. So, Greg, I don't know which one you're looking at. There's two potential A to B equal CD patterns out here. The first one, if you would use a low on May 10, that would be your A-point. And the B-point up here would be 85% retracement. Once you get past 0.786 out there, then it really isn't an A to B equal CD. It's more of a consolidation. So that's the first thing I would say. Now, you could use that low from June the 16th as your A-point. Your B-point out here would be the trading day of June the 28th and the retracement is June the 30th. But that retracement is less than 0.382 retracement. So I don't really like that one either out here. But here's what we do know. Regardless of that, if you did use the A to B equal CD pattern, that would be the bearish reversal candle. So this says it wants to continue higher. Now, price is stalled a little bit, but it's stalled where it should, which is the 10-9 out breakdown level. And that's at 44.82. It has not hit that level exactly. But that's really where it's target's got very close to it. In fact, the high of this session so far today is 44.50. But it's just running into resistance. I don't see a sell signal here. You've got a battle at 44.82. You've got another battle at 50.07. Not a lot of data on the monthly timeframe out here, but look at this. Last month was a confirmed rosement to indicator bottom pattern out there. And price on a weekly basis looks like it's going to close above the top of its bearish structure profile. In order to do that, it has to close the day above 37.33. That is a change in trend signal. So, and I think you had mentioned inside your email to me that you saw, it seems to be showing strength. Strength this week for sure, because it's taking out a bearish structure profile. There were sellers between 34, 19, and 37.33. Looks like they got run over by a Roblox truck. Folks, have a fantastic weekend. Thanks much for joining us here today. Stay tuned. You've got two more great hours. Your favorite polar bear, David Weitz up next after that. Tom will grind. He'll take us home. I'll be back with you tomorrow on Monday. Thank you.