 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 August 2nd the wonderful Wednesday 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 now the easiest way to do that is to always remember that life is Happening for us not to us That's right When you and I can 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'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 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 am here to serve you so feel free to pick up that phone You can dial on in at 877-927-6648 now if you've got a question But you can't call in you can always send me an email send that up early Please and send it to Steve at tfn.com and inside the subjectating if you be kind enough to put radio show question Now if you're inside our Tigers then well then any in every ping we'll do so let's go ahead and get this show Started on wonderful Wednesday, of course, this is Tiger financial news network. I'm Steve Rhodes Welcome to the show right now. You've got most of our all USNC's trained to the downside You've got the Dow up to seventy seven eight tenths percent one and a quarter for the S&P or fifty seven points nearly two percent for the Nasdaq one hundred three hundred six points there one and seven tenths for the Russell or thirty five points three percent for the Semais hundred and seventeen about eight tenths percent for the trainees are down one twenty six golds off five bucks with silver being Down nearly two percent or forty six pennies likes recruit trained out at seventy nine forty eight That's down two and three tenths percent off a buck ninety two natural gas off nine cents may generate an A to B equal Seated to the downside today and the 30-year treasury falling apart down one point and four ticks You print out at one twenty one twenty six now leading the charge Dollar wise the upside you've got eerie indemnity up thirty seven bucks sixteen percent Human is up twenty five bucks five percent Powell industries thirty nine percent or twenty four bucks Aurora Acquisition Corp twenty two bucks seventy three percent in Aspen technology eleven percent That's a twenty dollar move to the downside. It's pay-com software leading to charge off sixty nine dollars nearly nineteen percent solar edge Forty three bucks and eighteen percent Mercado Leray forty one bucks rain apper sent Generac holdings down thirty three bucks or twenty one percent hub spot off thirty bucks as a five percent move to the downside Of course, I want to look at what you want to look at And I will field all questions, but what we're gonna start today like we did yesterday Let's go take a look at US dollar index because US dollar index at this stage the game is negated It's TD nine count top that formed yesterday. We took a new US dollar index Yesterday, well, so if you look at the bottom right hand panel, you'll see that bar number It's labeled bar number one that was a bar following bar number nine So any close above that high that high by the way is one oh two twenty two a close above that high today Negates that signal and suggests that we run up towards the one oh two sixty two level You can see the a to b equals CD pattern. It's fulfilled the one to one price objective So I bearish reversal candle would then generate a sell the deep point or a Gartley cell pattern short of that Price should continue to move higher again with the one oh three sixty two being a likely target now We took a look at this yesterday You can see I've got each of the six currency pairs that make up the US dollar index and they're waiting that is inside there And we took a look at the euro. We know that the euro also formed a TD nine count bottom pattern Yes, I completed that pattern and a close below. It's bar number eight not yesterday's low closed below 1.0943 is going to Negate that signal you can see the a to b equal CD to the downside pattern the price target area For the euro out of pullback is one oh six ninety six unless there's a bullish reversal candidate forms That would then generate a Gartley buy pattern in the case of the Japanese yen It's an a to b equal CD to the upside that should continue to weaken that'll put strengthen US dollar that wants to go target the 1473 level the Great British Pound is weakening it has an a to b equal CD to the downside It has already gotten back to or towards its TD nine count breakout level at 1.267 for that's the real key level to watch out there The price closed below that we're headed lower It'll extend the a to b equal CD pattern and then the next breakout area for the Great British Pound would be down at about 1.2437 out there So we'll just really focus in on those three contracts as well as the US dollar index Everything here is suggesting that the US dollar index wants to continue to move higher. So now let's go from here and I just need to close this out and I need to oh, I know you know we can't do while I'm doing this here shoot. You mean to do that I Really didn't mean to do that You can't luckily you can't see what I'm doing you can't see the mistakes that I'm making But I am making them but what we're going to do is I'm going to switch over to the black background scheme We'll stick with the US dollar index will go to its longer term charts out here So if you give me just a moment, we're going to switch back You're going to see a black screen moment. Oh, you got it. Okay, so they're great So we've got that up. Let me get this other thing here going to sorry multitasking and really doing kind of a You know horrible horrible job at it, but now let's take a look at the US dollar index So here's the daily time frame. We don't really need to go into that a charts got the a to b equal city Now there's an area of resistance that the US dollar index is running into it's on the weekly chart And it's the weekly bearish structured profile. So the cell zone here is between 102 54 and 103 49 So as good as the US dollar index looks and by the way, it will continue to look good regardless of what we look at Here it's really important to pay attention to what's going on in the year old pound and the and the The Great British Pound and the yen out there that'll have more of an influence quite frankly than these market profiles But just so you know the US dollar index is trading into a resistance zone again between 102 54 and 103 49 and 103 62. It's another level of resistance That would be the monthly center of its bullish structured profile out there So that's all we need to cover with regard to the US dollar index again up towards a resistance zone but the other currencies that Effect this look like they want to continue to weaken while the US dollar index would in fact then strengthen out there now Let's take a look at what else we have going on. Let's take let's stay with this set of charts here Let's take a look at the US equity future contracts here inside the ES many upper left-hand side We're gonna go do a deep dive into these charts here But in the ES many just to give you an overview yesterday generated rose momentum indicator top in order to change get a change in trend signal You need to see a close below 4507 that's its level of support in the case of the NQ out right now The NQ is testing a prior swing low that swing low formed out here on the trading day of July the 24th And that's at the 15483 level if price closed below that then I would say the NQ is signaling Something more ominous out there with regard to the Dow The Dow has a sell the D point pattern that formed out here on the trading session of July 27th Just to consolidate with inside its profile out here Support would be 35 to 67 and the Russell 2000 it does not have a topping pattern It just simply has a price just as price consolidating with inside its profile levels with support being 1942 28 see rolls with TF and and we'll 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 TFNN comm 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 comm 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 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 comm 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 comm and try mastering probability 30 days risk-free today TFNN educating investors That's one eight seven seven nine two seven six six four eight Internationally at seven two seven eight seven three seven six one eight Looking back up folks So let's take our first question coming in from John inside the Tigers And he'd like to take a look at the spot volatility index out here. I mentioned that during the During the last segment that if we have a one-day rate of change that is greater than a plus 10% To anticipate some type of bouncer bottom in the overnight or early morning session out here So the chart that I have up on my screen right now The top portion is the S&P 500 the center portion is the spot volatility It's that red line is the 50-day Exponence moving average currently printed out at 1471 when you close above a 50-day exponents moving average what that does that gives sellers The upper hand here. So watch for today's close now The blue lot the blue arrows that you see on the top panel of my chart Those represent days where the spot volatility at a one-day rate of change greater than 10% The green arrows are just the opposite where the rate of change was below minus 10% Those typically lead are an initiation to higher price those those signals We'll get a one-day rate of change greater than 10% out there We typically see some type of bouncer bottom in the overnight session doesn't necessarily mean that it holds throughout the entire day But that's what you would want to be anticipating and looking for so that's the signal What you would do or what you would be looking for that's the here's the if we don't know how this is going to close It's only 1119 so a lot of time is left in the trading session But what I can do is show you what to be looking for should that unfold So let's switch over and we'll take a look at the ES mini charts out here This is the chart that you really are the set of charts that you really focused on what you're looking for our bottom signals now Forget about that. We're just let's go see what the signals are telling us right now as of 11 20 in the morning And let's start from the lower right Let's start from the five-hour time frame chart and then kind of work our way Down so to speak until we get back to the daily so on a five-hour time frame chart I'm going to just simply go ahead to expand this out We can see that you are in bar number 8 of a TD 9 count as price has made its way back to its breakout level 45 45 25 now bar number 8 is not going to complete until 2 p.m So the earliest that we could get a TD 9 count Potential bottom would be between 2 and the close today out there because bar number 8 can be the low of the pattern There's also an a to b equal cd to the downside that is forming if we take a look at that right now We'll draw the a to b line out here or approximately. Let me just expand that just a tad more Sorry about that and then from here. I'm just simply going to move this over to the To its c-point so you can see we're really at the one to one a to b equal cd For the five-hour time frame chart with bar number 8 of a TD 9 count now. Is that important? It's probably important when we go take a look at mark a breath I've forgot to do that we'll do that I don't do it on this screen because for some reason it gives it Conniptions now in a four-hour time frame chart You are going to get a completed though You're going to get a confirmed TD 9 count bottom at 2 p.m Here this will complete its TD 9 count bottom at 4 o'clock this afternoon So that's kind of suggested so this is preparing for some type of bottom a signal out here We'll see if that in fact happens if we take a look at the two-hour time frame chart the two-hour time frame chart Probably the best of the charts to be paying attention to now and why is that stable? The reason is because we are now in the bar following bar number 9 of a TD 9 count So this candle is going to complete in another 40 minutes 39 minutes to be exact out there And that low whatever that low is is going to be a key level for you to watch No, you got to watch that for a two-hour time period because we are on a two-hour time frame chart out here But on the two-hour chart you've got a you will have a confirmed TD 9 count bottom as we get to that 12 noon time frame What should take place from here or nearly I would tell you that price will go ahead and bounce up towards its Oscillator and change line that's currently printed at 45 75 I will still tell you that that is the likely outcome When you do it when you get a completed pattern that price is going to go make a beeline for that level of support or resistance Depending which way it's trading out here in this case here. It would be resistance that it would be targeting That's that oscillator and change line. That's on the two-hour chart the 60 minute time frame chart Negated a buy the d-point pattern when price closed below this hammer candle This would need a bullish reversal candle to form another buy the d-point pattern or a roads momentum indicator bottom In the case of a 30 minute time frame chart We can see roads momentum indicator signals have been triggered But what it's needed what is needed now is a bullish reversal candle Ideally what you would see is you would see those bottoming patterns form on the shorter term time frames like a 30 minute chart And you would see it consistent amongst all 30 minute charts out there. Those are the ones that form or generate the best What we'll call the spot ball utility x bounce or bottom Signals out there with those one-day rates of change above plus 10% So we'll put up the other 30 minute chart so we can take a look at each of these right now at least as of 11 23 and what they're signaling to and I and we can see that in each case They have triggered rows momentum indicator signals that it's in itself does not tell you that you form the bottom What tells you that you form the bottom is the Calvary that arrives That that generates that bullish reversal candle So that's what you want to look out for now in the case the interesting thing here in the Russell the Russell formed a roads momentum indicator Bottom it did it to five o'clock this morning that is still intact out here The only thing that would negate that it would be a close below 1968 90 hmm something to think about with regard to the other Nope with regard to the other me just make sure here that low 35465 this closed 35463 so it's only the Russell that still Maintains its roads momentum indicator bottom It doesn't really need another bullish reversal candle in order to generate that signal now. We've got We're 1124 we've got six minutes left in this session here the doll right now Generating what could be a piercing candle that would confirm its roads momentum indicator bottom That would then take press up to the resistance on which we call 355 46 So we'll come back to this set of charts here As we get no probably after that 11 30 break out there But John that's kind of an analysis of the spot volatility index and with regard to what to be looking for in order to play a Bouncer bottom. Let's just assume that this was now 630 tonight we're going into the 630 session and these were the charts that we're looking at and each of them formed a bullish reversal candle in that first half-hour session between 6 and 6 30 That would then give you a signal that you at least have a bounce that is under way out there And that's how I would be taking a look at if we don't get that spot volatility next that in fact Does a one-day rate of change greater than 10% that that pattern itself is off the table But not the roads momentum indicator signals that could also be forming on a 30 minute time frame So from here what we will do is we'll just simply go to the more shorter term charts So I'll put up what kind of what I would call the day trading charts because we're down to 10 or 15 minute Charts out here. So this is still the ES many We're just going to go see what's going on and do a little bit deeper dive with regard to what's going on And a 10 minute chart out here the 10 minute chart not much it negated a TD 9 count bottom So that doesn't look really good out there and on a 15 minute base as soon as this populates There's two negated a TD 9 count bottom So nothing good going there the last thing to take a look at is to try to understand Where are we at with regard to market breath? So to do that? I'm going to change windows I'm gonna come back to one of my main screens out here and what we will do is we will put up the market breath Data and here we take a look at the s&p 500 and the s&p 500 shows us that we have the same number of instruments trading above and below Profile open that up 133 below so the ES mini while you've got the four hour the five hour with TD 9 count But well at least the four hour with the TD 9 count bottom the two hour definitely confirming the TD 9 count bottom and we are at We're at kissing cousins market breath out there. It's not negative. It's not Barrage looks to me like we're gonna get a bit of a bounce out here Steve Rhodes with TFN and 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 Tigers then 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 Tigers den available to all Tigers and Tigris's for just $1 for the year There's no catch or added costs when you join our community of traders in the Tigers 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 and 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 folks down's down 230 s and p's on 54 on Nasdaq 308 Nasdaq 100 that is through them points for the Russell the semis are down 128 And we're going to go to our first question out here this from David H David wants to take a look at Netflix out here. David writes in and says Steve give me your perspective on Netflix I've got the 445 calls they expire in the middle of august david in Panama City You know what you've got here in Netflix is you do have a confirmed rogement to indicator bottom We have a new profile that formed yesterday So the levels to be watching your resistant for first your resistance is the green oscillator and changeline That's at 443 63 the top of the profile 441 18 The bottom of the profile which your support level is 419 20 out there. So that's what so it's uh, you've got the 445 calls out here But not till mid august. So what you'd You know, we don't have any kind of daily bottoming signal No bottoming pattern out here and just got a good old fashioned consolidation on a weekly time frame What you have is a td9 count and rogement to indicator top now Here's your key level of support So the first key level of sport is going to be its weekly oscillator and changeline and that's going to be at 427 Your next level of support is 426 53. That's the day. That's one of the daily profile levels That's the center and the bottom is at 419 and then below 419 would be 405 63 So i want to give you a support levels resistance. We've covered 441 18 443 and change 455 24 As we look at a monthly time frame chart for netflix I see an a to b equal cd pattern Was the b point taken out with volume the b point is this one labeled bar number seven or letter b The volume there 123 million shares when that was passed was passed with 145 million shares So on a larger term time frame David, uh, what you've got inside of netflix is a confirmed week monthly a to b equal cd to the upside That should take us to i'm just going to try to grab this. Okay try one more time The old steve grab technique. That's not working Why is that not working? wow okay, um It just doesn't want to part just there we go. No that didn't work either Oh lord, so I might just have to go to my other screen. I don't know why steve's fat fingers Nope aren't going to do it So i'm going to switch over to my other screen so that I can give you the a to b equal cd pattern here in netflix So before I do move over I just want to take a quick peek at the 30 minute time frame chart with you david on the 30 minute chart What we have is a roach mcdominicator top price below profile at a minimum We should see netflix target 425 26 out there 425 26 That's its td 9 count breakout level now to the bigger picture We're going to switch charts here. We're going to go to the black background chart screen Oh, you're on we're on the black background chart screen. Geez little wee steve Okay, I'll go back to the white one for you momentarily, but as long as we're here Let me get over to the netflix area in flx. Sorry about that nothing like uh Nothing like making that mistake out there more if there's one thing that drives me nuts in this uh This um This discord software. It's you just don't know which panel you're on in any event out here If we take a look at the a to b equal c to your one to one price projection as a price target of 50205 the 1 to 1.272 561 Even steven out there now. Let's simply go back and take a look at those white background charts So you can get a take uh, so you get a feel for what we were looking at there At least what steve was regurgitating for you again You can see the roach mcdominicator top on the daily time frame You can sort of see the new profile with the aster and changeline I'm hoping david you wrote those numbers down in your pad of paper out there You can see the td9 count and roach mcdominicator top on the weekly and we just covered the a to b equal cd to the upside For the monthly time frame. So you've got to pull back I'd watch for some type of bottom pattern on the daily time frame. I don't know what that is just yet Um, and best of luck to you on that trade out there Uh, let's go to our next request. This company's in from the tigers den from agape And agape wants to take a look at the uh semi conductors and the questions are Where's critical support? Where's critical support and is this a buying opportunity? McGuppy was taking a look at the smh's. I believe holding the 21 day Sma the simple moving average out there, which apparently i'm not going to put that on my screen But uh, but you can't not you guppy. McGuppy's already done that But others can't to see how that 21 day period as single as simple moving average has held price But my assistance to McGuppy is helping him to identify other key levels of support In this case here, you'll see on a daily time frame that what's going to generate today is another Rosemont dominicator top The smh has already had one they generate the first rosemont dominicator top right back here in the trading day of july 19 That remained in effect now prices trading below its bullish its bearish structured daily profile And I would say McGuppy a close today, but below 157 38 Would signal to you its intent to want to get back to its previous lows or the 151 69 level That is the next critical support level on a daily time frame the critical support level on a weekly time frame We would say would be between I have to give you the range the real critical support On the weekly time frame for the smh is 148 47 Period end of story Why did steve come up with that steve came up with that because if we take a look at the weekly chart We see that price has closed above the top of its weekly profile for well more than two consecutive sessions In fact, it's been a month When you do that Countertrend moves if the move lower would only be a counter trend move price would find support at 148 47 There's other support that the weekly chart has the first level 153 43 or thereabouts That's that weekly oscillator and change line the second level would be the top of the profile 152 20 And on a monthly time frame basis We're just simply at price getting back to a prior rogeman dominicator top That was a top that formed over a three month period of time. That was november december and january of 2022 was november december of 2020 um 2021 out there. So price has gotten back to that level. It's tested. It's rejected it at this stage here So we've got a good old-fashioned pullback So it looks like the smh's want to continue to move lower with that 152 to 153 being the next target to the downside So mcguppy, I hope that that helps you out on my charts I don't see it as a buying opportunity On the intraday chart just the 30 minute that is the 30 minute chart has a rogeman dominicator top Uh, and it looks like price wants to target its breakout level. That's at 153 46 So the 30 minute gives us the 153 number the weekly gives us the 153 number And the daily gives us the 152 number out there. So mcguppy, I do hope that that helps you out and thanks much for the request um any info on the nyse Advanced decline oscillator beyond bix that you already covered. Well, peter wants to take a look at that advanced decline oscillator Let's go pull back. Let's go do that. Let's switch panels here I'm going to make sure that I do that. So now we're on the black background charts If we take a look at the nyse what we had out here Was we had kind of a divergence? We had price moving higher But making lower tops in the advanced client oscillator Now what we have is price closing below its zero threshold level peter This would be day number one below that area You need two consecutive bars below that to really confirm that sellers are the ones that are in control Price is heading towards its over sold area in order to do that It gets needs to get to the minus 150 level out there So right now at this stage here is anything more that the that the advanced client also does communicating to us There really isn't it's not in the bullish condition But remember we need two consecutive closes below that zero threshold line In order to then confirm that in fact the market has shifted into the sellers hands See roads with tf&m. 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 tf&m.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 in 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&m.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 tf&m.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 tf&m.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 Welcome back folks Let's get to our next couple of questions first one coming in from inovisual inside the tigers I wanted to take a look at the nq charts out here So we take a look at the nq the first thing to pay attention to is this little swing point out here from july 24th That low is an important low 15 483 75 We're trading now if we close below that likely signals to you and i lower price the nq on a five-hour timeframe It's going to go ahead and form bar number eight of a td9 count at 2 p.m We could get a completed td9 count pattern at day's end We're likely going to get that same pattern configuration here on the four-hour chart It's going to complete bar number nine at 2 p.m As says by the end of the day watch the bottom whatever the low of the day is that's going to be important for this four-hour timeframe chart the two-hour timeframe chart again This is looking much like the es many that we covered in detail It's going to go ahead and confirm a td9 count pattern at 12 noon and it will complete that pattern at 2 p.m So I say the 120 minute charts again Are they're the ones that are most important to look at figure out what the lowest low is By at 2 p.m That's not the low at 2 p.m But the lowest low of the day that occurred through 2 p.m today Mark that low on the nq on the es on the ym On the uh on the russell 2000. Well, let's go. We'll go take a look at those charts I'll put up the under 20 minute charts for all four make sure that they all four have that same signal out here On the intraday the other intraday charts a 60 minute I've got nothing here from a bottom needs a bullish reversal candle same on the 30 And we're not going to stay we're going to stay away from the 10 and 15 minute charts right now Perhaps just as important, uh, you know, then taking a look at this is perhaps the following And let me just get to this set of charts here. Give me a moment. We'll put this up on our screen Now this is going to be the cash indices out here This shows us the weekly the daily and the monthly chart So the s and p 500 example I go from daily and upper left to the weekly to the monthly Then I pick up on the russell 2000 daily weekly monthly ndx goes across Uh Like a like a row out here and just the russell that would be a column What we're really focusing on the daily time frame What you should notice is that today is going to become or appears it'll become Day number two of consecutive moves lower out here for the s and p 500 Does that mean that um, uh, that uh, that we're going to bounce your bottom? No But it does say that between today and tomorrow we should experience your knee jerk reaction low And we should bounce in the case of the e as many it is not even close to taking out It's bullish structured profile support level now two two bar moves the downside and then a rally for another couple of days Or the rally continues itself certainly that can't form but we're only at bar number two So we don't have anything yet to suggest that um, I mean we do have some topping signals We don't have anything yet that it suggests any kind of sustained sun inside the nvx 100 just below that the same thing Today we bar number two the dow this would become bar number one Of a move lower and the russell 2000s become bar number two So with regard to consecutive moves lower out there I would say the dow likely gets its second day tomorrow We probably get the third day and the s and p the nasdaq and the russell and then we get a bounce or something from there Of course, we want to pay attention to that one Day rate of change that spot volatility Index out there because that could certainly change things up at least intraday wise Okay, so I wanted to make sure that I shared that with you as well You know, so hopefully I provided you with the information that you were looking for uh there If not, uh, just write back to me and I will um I'll get that information Let's go on to our next request out here that next request coming in from an emailer. It's uh from uh, George m George says, I don't know if you already talked about gold Uh looking for a low today. So let's go take a look at goldilocks Take a look at its multi time frame set of charts out here get a feel for and remind me We want to go ahead and punch up those 120 minute charts See if all of four equity future contracts are showing the same thing Now with regard to a gold on a daily time frame You are trading below the bottom of its daily profile This will be day number two below the bottom of its profile So what really could be going on here, George is price may be targeted at his breakout level The area where gold broke out from his 1954 30 for its daily time frame So that's something to be paying attention to as we look for any kind of other signals out here On a weekly basis gold is just simply consolidating with inside its profile on a monthly basis prices point back in testing support Is green oscillator and change line on a 30 minute basis? We need a spike lower between now between now and let's say this is eight Uh between now and one o'clock if we get that we could see a td9 cowl bottom on a 30 minute time frame chart I don't want to make that call the pattern pattern on a 60 minute time frame chart here George that you would be looking for if you believe that there's a bottom You want to see a bullish reversal candle to confirm a rose mint and indicator bottom We have no bottoming signal on the two hour time frame chart in fact it negated a td9 cowl bottom So nothing is going to help us there or the 240 or the uh five hour time frame chart Now I do see a three potential three drive to a bottom Pattern but that requires bullish reversal candles to confirm that pattern out there So we're just if we get a step away from that. So with regard to gold the question about gold I would be watching a 30 minute time frame chart for a signal of a potential at least short term bottom Maybe more than that george And I would be watching for that to come back to that at around one o'clock See if this in fact did form a td9 cowl bottom if it did and that bottom fails Then that tells us we're headed back to 1954 30 out here with regard to consecutive days lower Maybe this is the reason that george is looking for a bottom today will become day number two In that pullback series the daily time frame chart for our goldilocks the last time we moved lower Which was back on july 24th. We had a three bar move to the downside Typically you see two to three bar moves to the downside for goldilocks So that low you're looking for may not really be coming until tomorrow So george, I hope that that helped you out with regard to at least my analysis Of our goldilocks and thanks much for taking the time to write in No other questions that I see here Nothing else inside inside of tiger's den. That was great. If you could do more requests I can't could you look at the gdx, please? I believe you were long-term bullish But expected to pull back short term do you see the recent low? 2876 as being the likely buy point Okay, so let's pull up the charts here for the gdx. Give me a moment We'll look at it a couple different ways and the reason we're going to take a little couple different ways Is there's a need to be equal cd to the downside that is under way And that's really the pattern that is now in place to the downside macuppy that we want to focus in on But I just saw we'll go ahead and pull up these charts here with regard to the gdx And and the other thing we'll be able to do is we can see the gdx is trading into its swing point low from back on June 29th now if that low gets taken out macuppy then um my thoughts of this being a significant bottom I'm showing the ad. Sorry. Thank you. No, I'm not shouldn't be Should be showing the white background charts out there Peter but thanks. Thanks for being my wingman there If it's uh, if it's not shown if showing the black background charts or something else going on But with regard to the gdx and hopefully you're seeing the white background charts out here Um, I'll switch over to the uh to the uh to the black background charts momentarily when we take a look at the adb equal cd pattern But really what you're looking for here macuppy is a bullish reversal candle You've got that nice td9 count bottom on the weekly That's why I say if you take out the lows of this pattern here Which would mean a close blow 2876 and steve was just simply wrong Dead wrong out there now let's switch over to those black background charts We'll take a look at the adb equal cd patterns It's one and beyond the one-to-one price projection levels. So give me a moment here We'll get over to where we would have those charts gdx And gdx uh right now is uh, let's see come on. Come on. Come on work There we go So it's already beyond the one-to-one point two seven two a to b equal cd The swing point is straight into a 17 million you're a 10 million shares price is moving into that swing point macuppy With too much volume looks to me like that low is what's going to get tested that low is 2876 See bro, it's what tfm 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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There's no catch 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 When we go to tjx, uh, let me do this here while i'm at least thinking about it So we won't forget i'm going to put up the 120 minute time frame charts for all four of the equity future contracts We just want to see if they're all giving us the same signal for example The es as we get into the 2 p.m. Time frame is going to complete a of the noon time frame Okay in six minutes going to complete a td9 count bottom pattern The nq is going to confirm a td9 count bottom pattern. It pattern will not complete till 2 p.m And the other two are not participating. So in the two of those signals the es in the nq I still pay attention to those the last question coming in from bob and spokane He wants to take a look at tjx. So give me a moment here bob. We'll switch back over to those charts And as I recall tjx has a sell the d-point pattern for its daily time frame So I don't have the a to b equal cd pattern drawn in here Um, but it did achieve the 1 to 1.272 and above that level And uh, it confirmed that sell the d-point pattern right here on july 27th when it generated that bearish engulfing candle Now what we have out here Is prices still above the top of its daily profile the top of the daily profile bob Is that 86 46? We're at 86 49 Actually, we're at 86 34. I say we've got a little bit of a data feed issue here But the price does in fact close back inside that daily profile that would be a close below 86 40 86 40 Then what that would be signaling to you and I that we're likely going to go test those other profile levels 85 79 85 17 The weekly chart will go ahead or appears that it will go ahead and confirm a td9 count top At friday And it can still form the bar following bar number nine the next week So is the top in or not it will at least have a td9 count top to suggest that a top is Fourth coming now that should then take price back to a saucer and change on that's currently printed at 84 93 The monthly chart for tjx is bullish period And the only thing that would change that would be a bearish reversal candle for it Otherwise it says price wants to move higher So the daily and weekly right now are in a bit of a timeout Of course the daily if you get a close above its high that high being 87 63 Then it's back off to the races out there But it looks like you're gonna get a bit of a pullback and the question is does the 84 92 and 85 17 level hold this support Only time will tell folks they tune for all the great programming. Thanks so much for joining me I'll see you back here on terrific thursday. Please have a wonderful wednesday and be safe out there