 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 May 12th, the fantastic Friday edition of today's Trader's Edge show I'm your host Stevie Perseverance Rhodes who absolutely knows that each of us should always be pioneers of our future versus prisoners of our past Hope everyone out there is having a great day. Let's make sure we have an extraordinary one and the easiest way to do that 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 Well 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'll go figure out what those bulls and bears what those buyers and sellers are communicating to you and I at Just past 11 o'clock in the morning. I do 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 would love to hear from you eight seven seven nine two seven six six four Now if you've got a question can't call in you can always send me an email I'll send that off early, please send it to Steve at tfn.com and inside the subject heading Please put radio show question, of course if you're inside our Tigers then well than any in 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 the show Mostly a sea of red out there. The mostly is coming from the transports which are up 19 points Otherwise all the US indices trading downside, but we may have a bottom in for the day So you've got the Dow down 14 the S&P's off for the NAS X down 29 the Russell's off 2 Semis are off 2 points as well. So why does Stevie say we might have a bottom for the day now? We haven't had this all week long folks and when I say all week long what I'm going to refer to is Consistency within a chart time frame And that's our time frame that we're looking at right now are the 30-minute time frames These are for the for equity future contracts upper left is the ES mini represent the S&P upper right NAS Deck and Q represent the NDX 100 you got the Dow lower left and Russell in the lower right You'll see that each of them have formed bar number 9 of a TD 9 count pattern out there The NQ is already Complete it has a completed pattern because it's formed the bar following bar number 9 So the bottom is in unless you get a close below the low of the day inside the NQ and the NQ is driving the boat here So it's really only one it one of equity future contract that you have to focus on and keep an eye on so the price point To watch today to the downside if you get a close below 13 398 50 that says we're heading lower now you can say head and lower to wear Well, we got to go take a look at other charts to figure that out But right now what price should do at a minimum is get up to that oscillator and chains on that's currently printed at 13 448 now in the case of the ES mini and then this morning's newsletter as I wrote to Subscribers out there that our anticipation was that if markets were going to move lower the ES mini was going to target 41 36 and lo and behold it's done just that and it's given us a gift that gift is that TD 9 count bottom So assuming that we don't take out the lows of the last half hour Which we've got 21 minutes is possible the low that you're watching there is a 41 33 25 We get a close below that that says we had lower now that had lower could just be back to this swing point from back here at 1030 in the morning on May the 11th that price point being 41 21 and back to the NQ Really what I'd be watching is this hammer candle if price were to close below that TD 9 count So the level there would be 13 361 you get below that and then you're likely back to the lows from back on the 10th Of May out here, but right now we should expect and anticipate the markets move higher We should expect each of these 30-minute equity future contracts to at least go target those oscillator and change line What it does at that stage? Well, I don't know because that right now is resistance We can see that they've also changed color when you have an oscillator and change line Which by the way is the difference between the 19 and 39 period exponential moving average of a price out here if we take a look at the If we take a look at the at the oscillator and change line when it changes colors Especially after a completed pattern it even increases the probability of price moving up to that line I heard sure Doug just caught the last part of the show being replayed Tommy and he was talking great great explanation about probability out there and so forth is these this is a high probability Here doesn't mean it doesn't guarantee it's gonna work It's just your best recent reward risk and you have decent distance between where prices at and the oscillator and change line Love here at 41 39 you got 41 50 or so out there So you're looking at 12 points 50 bucks 600, you know in any event So you've got the bottom signals out here for all for the equity future contracts I've been waiting for these guys to agree with each other now if they agree with each other to the downside and these bottoms Don't hold that's also saying something to both you and I so we can go back and then let's take a quick peek here at Well, let's do this. Let's stay here So if we're really gonna see that rally one of the things you and I should see is a 30-minute positive market Press so let's go take a look at that I have no idea what it looks like but we're gonna find out here in a moment and now what we've got This is the S&P yes many you have 140 above 142 below. So we're really close here This is kissing cousins as we speak. Let's take a look at the NASDAQ out there in the NASDAQ 100 we have 28 above 30 below in the red lot forget about the line I'm looking at the upper left-hand corner the statistics are actually more accurate I'm finding then the actual lines that are drawn out there So we're really close here to possibly getting a negative crossover. Let's look at the other four time frames See we see if there's any assistance being thrown out here now in the yes many this morning There was none. Let's take a look at it right now the S&P if I had there's still none So the choppy choppy choppy choppy markets out here So market breath is a definitely bearish on the S&P It's 124 above 194 below for the 60-minute time frame the four-hour time frame You've got 114 above 184 below on the daily time frame or at 95 above 180 below Wow So the expectation then would be price rallies up that oscillator and change line and then gives it up Assuming that we have that negative market breath out there or maybe we don't even get it We ought to get it We got to get it. We get at least a rally up to the oscillator and change line Okay, so we know market breath. Is it really helpful right now for any kind of rally whether it's the 30-minute time frame or the six Well, we didn't look do we look at the Nasdaq? Now we didn't look at the Nasdaq Stevie brought that over here. I think we just had the S&P Let's go take a look at the Nasdaq 100. So let's put up. It's a market breath statistics So here here's ears where the NQ is the one that is truly driving the boat Okay, this is this look this we don't have to worry This is not taking a look at the top-weighted instruments this looking at all instruments inside the Nasdaq 104 105 something like that bullish for the 60 bullish for the 240 bullish for the daily bullish for the weekly out there So yeah, the NQ which has a completed TD 9 count bottom ought to lift all boats So at least get a little intraday rally out here And we really it would have to check on market breath as price approaches those oscillator and change line Levels out there. So I know you were asking Roger intraday. I believe was one of your questions You've got the intraday signals right here I guess I can't get really any better than this whether the patterns work or not. That's a different story But this is the setup I can go take apart all of the other charts out there the ES mini the NQ And we're not going to get anything better than what it is We're taking a look at from an intraday standpoint right on time with regard to the traders edge show Now the only question is where's price head if these TD 9 count patterns don't hold I'd go with the 41 24 level for the ES mini That's the about that's the 60 minute TD 9 count breakout level which has been tested a couple of times out there So if that doesn't hold it's trouble in River City zero to a Tfm We get back retake me and phase energy the New York Stock Exchange vance Kleinosner Nike JD and wheat 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 4x report Teddy keg stat breaks down the 4x markets every Monday using his 30 plus years of experience as a trading veteran of futures 4x stocks and options Teddy releases his weekly Tiger 4x 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 4x markets tremendously When you sign up for the Tiger 4x report you also gain instant access to Teddy's 60 minute webinar archive He just hosted 4x strategies and fundamentals What is behind the Tiger 4x report for all the details and to start your 30-day Tiger 4x report subscription today? Visit the front page of tfnn.com tfnn educating investors You might think that if you want to be successful at trading in the stock market You're going to need a crystal ball after all it's impossible to predict the future right like any endeavor in life before you decide It's impossible get some advice from the experts You might find that it's not so impossible after all for daily market Overviews that give you direction on the key indices selective stocks and commodities Subscribe to the opening call newsletter at tfnn.com The opening call newsletter is written by Basil Chapman creator of the trading methodology known as the Chapman wave the Chapman wave Up-down sequence gives you an edge in identifying price turns finding the peaks and valleys in stock prices Get the opening call newsletter by Basil Chapman in your inbox every day First-time subscribers also get a 30-day money back guarantee if you're not satisfied Let us know and you'll get a full refund within 30 days of signing up tfnn.com educating investors Steve Rhodes started his trading career as a student almost 20 years ago and the student has now become the master Steve won the prestigious timer of the year award in 2018 and barely missed that mark again in 2019 finishing at number two for the year an Amazing accomplishment Steve Rhodes is committed to sharing his techniques and knowledge with anyone who wants to learn and he shares his vast amount of trading knowledge every day in his mastering Probability newsletter Steve's award-winning newsletter Mastering probability is delivered every trading day with updates throughout the afternoon sign up for Steve's market newsletter Mastering probability and you'll receive access to seven of Steve's educational webinars Absolutely free at tfnn all our newsletters come with a 30-day money back guarantee So you have absolutely nothing to worry about visit tfnn.com and try mastering probability 30 days risk-free today tfnn educating investors toll free at 1-877-927-6648 internationally at 727-873-7618 The dow's down a 79 SNPs off 11 NASDAQ 155 Russell's down 5 we're take a look at the charts here for n-phase energy and pH is the ticker symbol This came in yesterday towards the close of the show out there this for sat p So sat that this formed a TD 9 count bottom We can see that that TD 9 count bottom confirmed on the May the 3rd It was the prior day that made the low of the pattern prices back inside its profile It's now above that red oscillator and change line price should make its way up to the 175-01 level will it be able to clear that and that's a great question You know on a weekly time frame set what you have is actually a confirmed a to b equal CD to the downside And it's a doozy and the retracement here the speed of C retracement You know by my eyes that's close to a point three a to retracement what that typically means We can see the price on the left-hand side of the c2d So I've maintained the exact same angle from a to b and they just simply have moved or copied that exact same line And angle over we can see price on the left side That's the strong side that says that's that's an indication that this would do more than a one-to-one To the downside a to b equal CD that would be the first level the fact there was a point three a to retracement Would be the second reason for that But what that gets you down to is it gets you down into the 75 ish area Well, when I take a look at the monthly time frame chart here, what's open is 46 61 We're below profile support and that's the breakout area. So what I would say at this stage here the look is That we've got just a countertrend move Probably working up a little bit of an oversold condition out there 170 501 is a key resistance level now If price gain above that then it likely tests at least the gap to the downside the high of April 26 And that's at 183 31 But the weeklies that confirm for example the b-point here had volume of 22 million when it was passed two weeks ago That was whoops. That was 50 some 50 million shares out there So you've got that confirmed a to b equal CD to the downside So sat P. I hope that that helps you out. Thanks much for taking the time to write in Well switch panels here because Peter wants to take a look at advanced the client oscillator reading inside the New York Stock Exchange So let's put that chart up on our screen here and we'll take a look at the New York Stock Exchange advanced the client oscillator Well, we had here if you take a look so first the reading is below zero So we're looking at panel number three. That's the advanced the client line up top That was a real do do's or when I finally put that one back up on the screen that topped back here on November Ninth it looks like of 2021 and we've been moving lower ever since that but you know We've done the same thing here for the most part for the New York Stock Exchange as well There's no divergence pattern that we have right here at the bottom You see I have got some green lines drawn for example the most recent one We were making lower highs in advanced client oscillator while the New York Stock Exchange was making higher highs in price That's so as a divergence that usually resolves itself now these Divergences that resolve themselves the bottom panel that I have out here Peter is the spot ball of tunics with the 50-day Exponence moving average and and my my bold your band readings I use out there the 50 to 1 is the settings I use on that But what we can see here is New York Stock Exchange doesn't really get running to the downside Peter Until that spot ball of tunics is above the 50-day Exponence moving average here's here's an example of that It's really the most recent the most recent one and that's we we did get some movement back out here But boy as soon as that 50-day soon as price crossed at 50 day It was a big move to the downside which also set up a divergence Type of did it and that didn't I should get rid of that line if did at the time, but it's not there right now So advanced client oscillator Tells us right now when it's below zero and when it's below zero I'm talking about for a couple two sessions out here is telling us that sellers are the ones that are in control of the General market out there. So Peter, I hope that provided you with the information you were looking for Thanks much for taking the time to write in and have a fantastic weekend out here Let's go to Dan's question about Nike and we pull up the charts here for Nike. Holy shnikes You're in bar number seven of a TD nine count So perhaps by between Monday and Wednesday of next week you may get a TD nine count bottom pattern here now To me This is not enough of a retracement for us to put in an A to B equal CD to the downside Although the swing point that B point which we could use for potential a to B equal CD the six million shares and Yesterday you close below that level with 5.9 million shares so far today in nearly two hours of trading your 2.3 So it's got similar type volume But where price might be really headed to Dan is that TD nine count breakout level at 115.7. You don't see the chart Sorry about that. Thank you. Thank you. Thank you. Thank you, mr. Bill Thank you Dan. I was doing so smooth I was gonna get away without being in the penalty box, but nope They just threw me into that penalty box We take a look at Nike now here Let's do a redo So the first thing to notice here Dan Bar number seven is gonna form today. Where's the next area support on a daily basis because we're below support for me That's the TD nine count breakout level. That's at 115 77 We can see that was tested back here on this big day of January 24th It was also tested back here on March the 13th and then tested rejected and off to the races on March the 15th So that's a real key level of support to be watching observing. I Suspect that that's where price is headed towards the other area where it's headed towards is 116 50 and 116 50 is the center of its bullish structured weekly profile and with price below the The green oscillator and change line That that's a pretty good indication. So it's lost this momentum to the upside And now it looks like I want to get back to that area of support Which is really tying out to the daily time frame that we see out here with that breakout area of support and the monthly supports a further pullback But it will really support a further pullback if it can close below the center of its bearish structured profile That level is 120 oh for we're basically trading at about that area right now so I it looks like it's headed lower you got some decent volume so far today and That one that's that weekly as a monthly profile. That's the last bastion of potential support now The real confirmation I can see this if price heads lower today. How are we gonna know? Well, we'll know because price just says lower really what I meant was not just heads lower but has an intent of continuing to move lower and The reason that we'll know is because you've got a TD 9 count bottom that is in place out here So that completed at 11 o'clock Right now and if price close below the low of the pattern and Dan the low of the pattern Let me just move this over so I can grab that is a 1976 so if we get a close below 1976 today, that's just gonna confirm that thought process that price wants to go target that 1577 area out there any chance that we don't continue to have lower next week Well, this is bar number. This is day number four is what I should say of consecutive moves lower out here I do see one in instance of a six move lower But the last time we had four bars lower was back here on the trading day of December 19th And that price took off to the upside But I don't know what kind of pattern if any pattern was out there at that stage So, you know, we're nearing a potential bottom out here Maybe it gets a little rocky we get a little bit of a rally on Monday Maybe Monday Tuesday and then it resumes lower, but what I'd be watching for is that TD 9 count pattern So Daniel, I hope that helps you out as always. Thanks much for being so kind to provide me with some requests out There always makes the show go so smooth as we slide into our next request, which is JD And this is for Alton. And so let's read Alton's question. It goes like this. Good morning, Steve If you have time, we're gonna make it. Can you please look at JD key levels of support and resistance? Thanks has always had a great weekend. So your key level of support is between 30 402 and 34 51 That's the bullish structure area of your daily profile. Your key levels of resistance are 36 95 That's coming from the daily timeframe, but Alton, I've got more. We just have to wait till we come back to this break Steve Rhodes with TFNN. We'll be right back as a precious metal gold is still king It continues to hold the most effective safe haven and hedging properties across the global major trading hubs of the London OTC market The US futures market and the Shanghai gold exchange the gold report Tom O'Brien publishes his weekly gold report every Monday morning for subscribers Consisting of coverage of the XAU HUI GDX the dollar bonds the South African Rand as well as 25 different mining equities with specific buy sell recommendations The gold report New subscribers get a 30-day money back guarantee. So you have nothing to risk Subscribe to Tom O'Brien's gold report newsletter now at TFNN.com 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 Tigris's for just one dollar for the year There's no cash 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 Tigris's 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 We'll take the charts here for J.D. for Alton and so Alton has got a nice roadsman to indicator bottom Both structured profile the essays move was a false breakout It was did close above the top of his profile where we're back below it today So he got basically a good old-fashioned consolidation with inside that zone of 30 402 to 3695 out there The weekly chart prices pulled back into a swing point. No bottom pattern. In fact, you've got a failed TD 9 count bottom pattern out here But prices back inside the swing point from October 28th that was in 2022 out there with much lighter bottom that at 91 million shares last week as an example you did one this week though You're already at 65,000, but it is still with the light volume out there And the another area of resistance is 38 15 that's coming from the weekly time frame And then on the monthly no support levels because well the next support level on the monthly for you Would be down at 25 77 and resistance at 46 67. So that's what we see we take a look at the charts there for J.D. Let's go out to our first caller. It is John and Philly. Hey John. Thanks for calling. Thanks for holding How are you today? Steve I'm doing very well. Thank you. Thanks for taking the call and Steve. I'd like to ask you To help me investigate further the NDX and the futures NQM free Okay, and I ask you to do so by showing us that eight panel charts Graphic that you do every day that shows the top eight market capitalization stocks in the NDX That shows both the TD 9 counts and the TAS market profiles on those daily charts like to ask you to show those and see if and Ask you the question after looking at those Is there any general message you're getting from those? Okay, excellent question. So we're letting these charts here populate at the moment and so on one screen I've got the the the first date the top eight I don't think they'll be completely in order and then I've got the second eight So let's just take in a moment here to populate and we'll be able to answer John's question So here you can see that we're going to take a look at NVIDIA, Amazon, Google, Facebook Broadcom, Apple, Microsoft, and Tesla. So we take a look at the chart for Apple. Apple has a Roadsman Dominicator Top that has already been confirmed and it was confirmed with this little bear sash candle Let me get the trading day for you. That was on the trading day of May the 9th so what that set up is But pray so Apple's chart John it does have a top but it's a neutral signal The reason it's neutral is because price continues to trade above the top of that profile. That's 170 92 Microsoft if it finished the candle where it is right now today that would confirm a Roadsman Dementicator top Yes, it was a doji. So it's very easy to create a bearish engulfing candle I hear prices trading what appears to be within side the profile So the key level to be watching on Microsoft John is going to be 302 42 That's a bearish structure profile if Amazon closed below it. It would go target 292 28 in the case of Amazon today Right now you've got what looks like a bear sash candle. I don't know whether that's going to Be the candle at days in but what I do see out here is that would then complete an a to be equal CD pattern It looks like what I'm just gonna make sure by moving that Yeah, so it's close enough where a bearish reversal candidate today in Amazon would generate a sell the d-point pattern however Price remains above the top of its daily profile and above its greenhouse that are in changeline and therefore That is a neutral signal. So we're neutral on Micros on Apple were neutral on Amazon even though it looks like they will have topping patterns nothing on Nvidia and Nvidia it's lost its momentum because it below the greenhouse that are in changeline, but it's still above It's a profile level. So there's nothing bearish with regard to Nvidia Google nothing bearish at all In fact, my recollection has got a nice a to b equal c to the upside and confirm one on the weekly chart So that should continue to move higher in the case of tesla Tesla's trading above the top of its profile and it's also in changeline Odds favor that this wants to move higher. We take a look at Facebook Facebook did form a roadsman to indicator top price been consolidating basically with inside his profile levels That ranges john from anywhere from 233 58 to 244 92 and lastly on broadcom Let me have to expand this chart out See if I can figure anything out here and I really can't what I see is a roadsman to indicator top That has basically led to a sideways consolidation that's been going on for the most part ever since it gapped up on march 3rd So that's the review of those eight instruments. What uh, what what do you take away from any of that? Let me share this I I try to stand by a policy of not um saying too much too often and uh Try to emphasize doing so when I see The potential for something significant brewing You know and not just in stocks or stock indices, but any market I see one right here in the ndx right here right now today yesterday this week Um in addition to what you've just shown I shared in the tigers den um The uh nasdaq 100 daily charts Yeah, and two observations come from that first clearly rally phase Second clearly a weakening rally In other words, we're making higher highs, but momentum is waning that of course tells us nothing in particular other than Don't be don't be surprised by pullbacks But that daily chart using basal Chapman's excellent work as uh Is in leg g higher on that daily chart and i'm reminded of the trading tool that one of his Students from a decade ago sarah toga bob Employed very successful. I might add to he was very uh, uh, parenthetically very helpful to me In teaching me his tool of the peak control g buy and sell signals that Uh, that he used and I've adopted over the years Yes, but uh, we've got a leg g on the daily chart and I showed in the tigers den That daily chart which shows a clear wedging pattern And I see my experience has been over the years one of two resolutions one An acceleration higher Or we just break out of that wedge or two A topping and failure and reversal pattern So I share that with you And lastly, I'll just say Uh, the ndx futures the nqm 3 are making new lows on the day here now in the past 10 minutes All this tells me There's a candidate or today This week, uh All this is a candidate for a short term top in that ndx 100 Clearly, uh, there's no top proven Uh, I'm very mindful of that But I guess in the words I like to use it to candidate for one of those Sure, sir. Excellent excellent, uh synopsis. So we're looking at the ndx 100 the daily chart here And as john pointed out it is in wave number seven. That's letter g on my screen out here Now that won't be confirmed until we have a higher a lower high So that means monday would be the confirmation of that but we are in wave seven. So that says be aware A bearish reversal candidate today john would generate a uh roadsmen to mindicator top in the ndx 100 Lastly, you probably notice this as well. There is a s and p 500 wave number seven top That's already been put in place out there. That was on the trading day. It looks like of uh, May the f made the first out there. So if you don't have that note and go note that on your charts And thanks for calling john. We're out of time Thanks for the call. We'll be right back You might think that if you want to be successful at trading in the stock market You're going to need a crystal ball after all it's impossible to predict the future, right? Like any endeavor in life before you decide it's impossible 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 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 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. 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Let me get back to those charts here. So, um, we were talking about wave number seven patterns there with john Where did I put that? Right here. So here's a radio show in this is I mentioned that the s&p 500 Also had formed a wave number seven. So let me just give my cursor out here Give you the exact date. I believe was may 1st. It was uh, it was may 2nd May 2nd. Oh, it was may 1st that that 7th wave move You can see here over on the trading day of february 2nd That also was a wave number seven. That was also a titty nine count the two topping patterns give more weight than one not that i've been able to figure out but Unfortunately right now. I can't really test that Um, so in the case the s&p 500 you're below the oslo and change Oh, I still got that consolidation pattern that's going on inside these markets. So You know, will the consolidation patterns get broken? Yeah, that I don't know out there So it's only the ndx and the s&p that have those wave seven Tops that are in a place as we speak right now. So let's go to our next question Which was from we took care of jd Uh is uh ron want to take a look at wheat So let's go take a look at the wheat charts out here. We'll pull these up. So w he wanted to look at w e at So that's what i'm going to pull up here is the daily time frame and w e at If you were trading this etf, you would want to know or any etf quite frankly You want to know what's inside or at least What represents 50 or more of the holdings with inside it? Well, it turns out in the case of w e at It's got three of the future contracts. It's got the july the september and the december So it makes it a little bit more complicated to trade. You're not just trading one futures contract What each of these have here ron are daily td9 count and rogement to mindicator bottoms again Two bottoms don't make it stronger than one. You have bowler structured profiles In the december contract. You've got a bare structured profile in the july and the september contracts those say if you Close above 650 70 for july. You should head to 695 Close above 674 90 for september. You should head to 706 close above 675 95 for december You should get to 721. So you've got beautiful daily setups here But that's not the only thing you've got you've got a beautiful weekly setup And so the weekly setup shows td9 count patterns that have been completed from both the july contract and the september Of 2023 not the december of 2023 the real key area out here ron that is of concern is the weekly Aceter and change line values. We haven't seen price close above that other than one week For quite some time out there. So those really become the so-called fly in the financial Ointment so to speak but in the case of the july week contract. So the current contract out here We didn't have a three bar knee jerk four bar should say knee jerk reaction low It appears we got a little bit of a rally So we should see at least a two to four bar rally to the upside inside of the week contract So hope that that helps y'all with regard to w e a t Um agape inside the tiger's den wants to take a look at a q st So let's see if we get back to where that chart might be is this it That is how about that? So in the case of a q st Um agape your question is buy sell or hold Well yesterday you completed or you confirmed a td9 count today is going to complete that The answer to your question lies upon the oscillator and change line, which is green So you got a top Remember when we get a top out here just go back to tommy's discussion about probability and poker and hands and so forth out here Because that's what we're doing here inside the stock market. So here we got a topping pattern the td9 count So you knew we had that yesterday And so therefore and we know when we get a confirmed topping pattern odds favor We're going to get a price pullback to that oscillator and change line now because it's green And the reason I developed the oscillator and change line was to be able to differentiate between a retracement and something more A retracement which is natural to pull back to test support 213 at this stage of the game you'd want to stay in the position You might even want to add to the position of course You'd like to see what's going on an intraday basis or on a weekly basis Well, the problem with aq st is this week is going to be bar number eight of a td9 count however You know You still need bar number nine which is likely to get next week And the high can come on bars as you know nine or the bar following nine So can't draw conclusions, but the weekly is getting ready for some kind of a top Now the monthly looks good because you're above profile get a road's meant to mitigate her bottom Signal that is present there So I the answer to your question as far as buy seller hold is I wouldn't know until you get down to that 212 level If you close below that that's going to suggest a further retracement The problem there is you don't have support until you get back to buck 42 a buck 24 um A buck 36 So that would be taken too much of a hit. So what you're going to need to do Look up here. My suggestion is a dial down into the intraday charts out here Here's an intraday chart that shows a road's meant to mitigate her top It's in bar number nine, but it's not a valid td9 count unless we can spike below bar number six So it's needs to see a spike below 219 out there now. Maybe it's doing it I do have a bit of a delay with everything that is open out here on some of these charts But that's what you should be looking for out there. By the way the next support level on a 30-minute time frame chart is down at a buck 81 out there. So it's taking it's a it's doing what it's supposed to do The question is what you and I can't answer and volume wise. What is it doing? So in the first two hours of trading you've done about 855,000 one was moving up here was 1.7 million 1.4 million So you've got pretty decent volume on that pullback out here. You got to watch that 212 level So if that helps you out mcguppy and thanks so much for taking the time to write in s1 Formula one wants to take a look at vgz. Well, that's not it. Let's see if we can get up to the vgz charts out here and vgz has a Roadsman Dominicator top It is trading back inside its profile the next stop or the next support level of is 65 cents and below that It's 62 pennies You're going to form bar number eight of a td9 count as long as price closes today above 64 cents You're at 66 if you don't if you close below you close at 64 below This td9 count goes away But it looks like you might have an a to b equal cd pattern as well I can't tell but let's let's try to figure it out. Let's draw the a to b line out here. So here's a Oh, that wasn't it. Let's try to get the right tool stevie There we go. So there's a to basically b Let me move this to the c. I don't like that a to b equal cd pattern. That's for sure So has it completed? No, it hasn't complete. It really hasn't completed out there So the day the weekly chart shows us that 72 cents. That's resistance to top of its profile So you got kind of a consolidation. I'd say between 52 cents and 72 cents out there and expect Vista gold to pull back 65 or 62 being those next target areas out there So as one I hope that that provides you with the information you were looking for Daniel wanted to take a look at the us dollar. Good question there, dano. Let's put those charts up on our screen Let's actually switch uh panels out here. We'll see that the us dollar index is breaking out above the daily profile So that says that you and I want to go take a look at the weekly profile dano So that's your upper left hand chart that we have out here And as we take a look at the weekly chart, we can see that there's resistance just ahead 102 67 is that um Is that done number if price can close above 102 67 Then we're looking at a move up to 104 00 and if price can close above that then we're looking at 14 06 So you got to take this in in uh a progression somebody coughed at tf and n I don't know. It's kind of I don't know what mics are open up there. Sorry about that guys They should be listening in Do you have an open mic? I almost typed in m i k e so uh um in any event uh that's that those are levels to be watching for the us dollar Let me give them to you again 102 67 you close above that 104 0 4 um would be the uh mark steve roge with tf and n we're going to take a look at apple and uh microsoft and On and gold to close out the show. It's going to be a quickie, but we'll get it done 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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So, uh, we're taking a look here at the charts for apple This is a mica traveling mickey's in florida right now mica And john's z and the tigers den his ears are probably going to percolate here This is the weekly time frame chart and the reason i've got it expanded is because bar number nine is going to complete today So you're going to have a td nine count top, of course that high can't come on the bar following bar number nine But the reason i open up this chart i always like to pay attention to say okay these td nine counts often Are they working in this specific instrument? And if we take a look at the recent past The bottom it formed out here on june the 17th That was a td nine count bottom took price right up to the resistance level 17153 about where we're trading right now It's breakdown area. We had a td nine count top that took place on december 17th That certainly led to that td nine count bottom out there We do have a td nine count pattern here that failed. That's the one that took place on august the 20th So it's on a weekly basis. It is absolutely time to pay attention It's especially time to pay attention because apple, uh, you know has a roadsmen to indicator top now I'm seeing here. I said that it was a confirmed top Yeah, it is a confirmed top still so it's still got a confirmed roadsmen to indicator top But still apple's trading above the top of that daily profile 1792 You asked about microsoft as well if we take a look at the charts here from microsoft We're gonna see it is going to confirm a td nine count top today Today on a weekly basis and wave number seven I think we talked about that and then on the daily time frame for microsoft You could get a confirmed roadsmen to indicator top today with price getting back inside its profiles out there So that's what we see going on in microsoft there if we take a look at on semi conductor We take a look at it Everything here looks pretty good. You're above the ocular and changeline and profile levels on the daily time frame This should go target 84 76 that's even being communicated to us by the monthly time frame chart Lastly if we go take a look at goldilocks for duke out here if we take a look at gold get up its eight panel charts It should populate here momentarily. Here we go So with regard to uh gold you are in wave number seven You're going to get a confirmed wave number seven top on that weekly basis So you kind of heard the show today and you know what that says duke That says time to be careful with regard to goldilocks And you've got to confirm roadsmen to indicator top on the daily time frame So it does look like 1986 to 1996 is in the cards folks. Have a fantastic and fabulous weekend Thanks for joining me and being here and i'll look forward to seeing you on monday be safe out there. Take care