 The following is a presentation of TFNN The Traders Edge with Steve Rhodes Toll free at 1-877-927-6648 or internationally at 727-873-7618 The Traders Edge now Steve Rhodes Good morning folks welcome to the July 10th the magical Monday edition of today's Traders Edge show I'm your host TV 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 And let's make sure we have an extraordinary one now the easiest way to do that It's 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 It means 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'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'm here to serve you So feel free to pick up that phone and dial on in at 877-927-6648 Not if you've got a question, but you can't dial in you can always send me an email Send that up early and send that to Steve at tfnn.com and inside the subject heading Please put radio show question. Of course if you're inside our tiger's den Well than any and every ping will do so let's go ahead and get this show started on Magical Monday, of course, this is tiger financial news network. I'm Steve Rhodes Welcome to the show. Well, we start our day with a mixed bag The mix goes like this the dow is up 107 the s and p's off two nasdaq 100 down 36 Russell's up 22 some eyes up 41 trannies up 103 So we got a good mixed bag out there in the metals market gold's off four bucks silver stone Four pennies and lights we crude is up a nickel natural gas is up 9 cents a 30 treasury print out 123 25 That's basically flat out there leading the charge dollar wise the upside booking holdings 73 dollar move nearly 3 percent Model ethic power systems up nearly 20 bucks nearly 4 percent heledob troi nearly 16 percent 18 bucks broadcom Nearly 18 dollars 2 percent into it of 15 bucks That's a little over a 3 percent move to the downside. It's that mercato libre down 7 83 bucks FMC Down 15 bucks microsoft of seven teslas down four Prestige wealth of 23 percent nothing prestigious about that. That's a four and a half dollar move to the downside Of course, I want to look at what you want to look at. So where do we begin? Let's begin. We talked about this just for a tad during the 11 a.m. Update and that tad was we take a look at equity futures out here You've got new profiles. We discussed this on friday both in the es Well, both I should say for the es the nq and the russell 2000 So let's begin. Let's take a look at it one at a time the one at a time We have a new profile that formed within the prior profile That's telling you and I to expect and anticipate a consolidation not a breakout to the upside Not a breakdown to the downside But a consolidation. We have a profile that formed within side a profile. That's its message Now, I'm not saying that we can't close below the bottom of profile What I'm sharing with you is a message so far is that we should expect to anticipate a consolidation inside of the s and p 500 Turns out we've got that exact same message inside the nq The nq's new profile for me within side the prior profile If you take a look at some of these other profiles here as the nq has moved higher These newer profiles have formed above the prior profile We've had a higher low a higher center a higher top out there. That is not the case We take a look at the nq. We've got a call around the lab. We're going to continue speaking about the nq's with john and philly John thanks for calling. Thanks for holding. How are you today? I'm doing very well. Uh, thanks for taking the call and can you hear me? Okay Can hear you just fine loud and clear fire away if uh, yeah if uh Uh, if the reception goes bad on me, which it has been doing Uh, I'll merely hang up and listen. Okay, Steve. Uh, yeah, thanks for taking the call Can you tell me um, I had two questions? uh first on the the nq's and that is Uh, what level if broken? Uh confirms for you a declining trend uh as uh Differentiated from what's been going on the past couple months Great question. So, um Let me see. I'm gonna try to fire up some of my other charts out here But as long as I this is the daily time frame that we're looking at right now So the first level that I would be paying attention to is going to be 14 9 69 And 14 9 69 is the bottom of the daily profile if we take a look at this chart that we have up on our screen here Not that the bottom of every daily profile has held that support We do see some chinks or some cracks in the armor in this move higher But that would be the first level john that would be the minimum level That price would need to close below for two consecutive days and that level again is 14 9 69 Before I switch over to the white background charts any questions about this chart that you're viewing here in tiger tv Interesting, you should say that uh, steve. I'll merely supplement what you have By sharing with you and mentioning 14 9 69 uh, you uh, I recommend penciling in The figure 14 8 7 0 on that nq contract that is the minus one standard deviation level Yeah, and That level has held Multiple times in the past six seven eight weeks um, if we break that The uh, the big options traders and of course the zero days Two expiration options market is now huge So there is an element of tail wagging of the dog Uh, the options Influencing the larger cash indices. Sure. So just to complement 14 9 6 9 14 8 7 0 and another number Okay, perfect perfect So let's move on to the white background charts out here and on the white background charts What this communicates to us is a close below and so john i'll use 14 8 70 a close below 14 8 70 Should then move us down to 14 7 66 or thereabouts now that number Is coming from the weekly chart and that would be the oscillator and change line level now You know as well as I do that as price moves up and down that number is going to also change But that would become a price target would be the weekly oscillator and change line If I look at the monthly time frame chart now that we have these monthly time frame Or are they have multi time frame charts up on our screen the monthly chart shows a nice td9 account bottom Price above a green oscillator and change line out here and that really suggests that price wants to go target that breakdown level john And that's at 15 7 98. That's to the upside your questions are to the downside So we still have on that weekly chart weekly chart that 14 7 66 area I would then add So if price closed below your 14 8 70 or one standard deviation, of course, we know that'll change From time to time If we take a look at the 14 8 70 level and then 14 7 67 a price closed below those two areas john Then what I would say is you could see a move Well, then I would say you've got to move down to perhaps 13 204 At 13 204 at the present time is the current td9 count breakout level So that's how we look at this thing in progression. I see we're out of time here Hold on if you can and I come back and answer any questions that you have about these nq charts that we're looking at Steve Rhodes with john and philly will be right back Currencies commodities and bond markets are as important as ever right now with how they're driving the volatility in equity markets across the globe Which is why it's a great time to try out teddy keg stats tiger forex report Teddy keg stat breaks down the forex markets every monday using his 30 plus years of experience as a trading veteran of futures Forex stocks and options Teddy releases his weekly tiger forex report every monday morning with coverage of all the major currency pairs Including the dollar index the euro dollar pound dollar dollar swiss dollar yen as well as many more And he also has weekly coverage of the crude oil market and the 30 year t bonds as they both influence forex markets Tremendously when you sign up for the tiger forex report You also gain instant access to teddy 60 minute webinar archive He just hosted forex strategies and fundamentals What is behind the tiger forex report for all the details and to start your 30 day tiger forex report subscription today Visit the front page of 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 and your inbox every day First time subscribers also get a 30 day money back guarantee If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up tfnn.com educating investors 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 it 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 Welcome back folks. We got a mixed bag out here. It dows off 98 s and p's off to nasdaq 100 which we're talking about is down 33 points we're on the line with john and philly and and john the chart that I put up on my screen right now is the seasonal pattern For the ndx 100 for the last 37 years the red vertical line represents where we're at today We can see that on the bottom section. It shows with the average typical daily returns are mondays and fridays are struggles for the nasdaq 100 So today with the nasdaq being down 39 it's just following along with that pattern Turns out that the only real troubled month over the last 37 years on average for the nasdaq has been september July's a pretty decent performing month But this does indicate that from a seasonal perspective john price should move higher through about a week from today july the 17th out there Now we know that because of you. We know that the nasdaq 100 on a daily basis Formed a td sequential top. That's uh, you can sort of see bar number third or Label number 13 on my screen out here. So folks that still remains in effect We still have a top that's in place with a consolidating pattern that is out here Um, uh, so I just wanted to throw that out to you as well john So to get back to answer your question when I take a look at the charts Uh, the numbers that I'm looking at would be 14 9 69 you're looking at 14 8 70 So a close blow that should bring the weekly oscillator and change line into play 14 7 67 or so And a move below that would then bring into play the td 9 count breakout level in the daily time frame of 13 204 Uh, what questions john, uh, what additional information can I provide to you or any observations that you might have? You've answered my uh question completely steve. I thank you for that I'm uh, I've got one follow-up question for you unrelated Yes, and uh, I'm going to use the principle that tom will brian has uh used on air for Oh nearly 20 years that I know of and that is um Uh, you have the right to ask for what you want Uh, and of course anybody whom you ask has the right to say yes or no So, uh, I've got a question for you today that I've never asked you Okay, and uh, I I respect your saying john. I just choose not to answer because of uh Oh say uh out of respect for your client your paying clients, but uh, here's the question Yes Of all these things that you look at and you look at very many Uh, would you kindly share with us? uh, two markets that you uh Can see the prospect For an intermediate term trend change mainly A market that's rising about to turn or has a prospect to turn into a declining market or vice versa A currently declining market with a prospect to turn into a rising market. That's my question If you choose to answer i'm going to listen off air and thank you so much Sure, you bet john. Thanks much for calling and uh, we'll look forward to speaking with you again soon That was john in the philly So to answer john's question Let me do this here And I can answer this question with regard to at least one market and i'm so i'm happy to do that I just need to pull up the charts now So what I want to look at Be give me just a moment. Here we go See if I can pull this up. Okay, so we're gonna hear we're gonna have the daily weekly and monthly I'm thinking i'm on the i'm on the white background charts and what i'm gonna put in here is gold so um I think I can still put in the august contract and and accomplish what I need to hear So let me see is this chart here populate So what i'm really looking at you know what i'm going to put up the continuous contract because that will really show What it is that i'm going to refer to So let me get this to populate and what i'm going to do here folks I'm going to turn it over to the monthly time frame chart here and we're looking at gold so We take a look at this chart here this tool this tool shows us consecutive moves lower and consecutive moves higher If we take a look at gold, this just takes us back to 2019 99 time frame. It's just the size of my screen That's all so let's not worry about where i'm pulling it back to But we know that gold was on a big bull run back then and if we take a look at each of the pullbacks Here consecutive pullbacks Look at how many Two month two bar So it's two bars out here two bar knee jerk reaction lows that formed nearly all of them We do have a three month a couple of three months one was back in may of 2000 There was a three month move that was back in july of 1999 But otherwise on the run to the upside what we saw in goldilocks was a two month decline. So What i'm looking at right now john is the possibility Of gold having formed a major bottom A major bottom. No, do we have any confirmation of that? We do not absolutely. We do not Why is db looking at it? Well combination of a couple of things number one here. We've got our two month decline That's just really the first thing. So we've got that two month decline While that two month decline was taking place We see if i can get over now and take a look at the actual gold chart So here's the es many. So let's go ahead and move over to goldilocks So what you will see here actually this is probably not the chart that i wanted to do it But i will so the chart here would be for goldilocks in the daily time frame You've got that nice td9 count bottom now that formed on june the 29th not until that low gets taken out Close below when i then change my view On your question with regard to an instrument that could take off in one direction or the other So i think it is is i believe that it's uh or at least gold is one is one of the instruments that i'm taking Look at john and it's really Now the weekly chart now there's a potential a to b equal cd to the downside that takes us to about the 1840 level But because i've gotten an existing bottom here with regard to gold And it's not just with regard to gold and that's really what i was going to say here um Might be this chart So on a daily base, so we got the monthly so you understand what i'm looking at from a monthly standpoint That the two week the two bar knee jerk reactions out there Then this is not it. Sorry. That's not it. So then when i take look at what transpired in is this it? Yeah, so now we've got the august contract up here and the left hand side for gold the center is uh silver And the right hand side is the gdx So we know that steve was looking at that two month decline now I take a look at the daily time frame for these three instruments, which we all know are correlated with each other You've got a td nightgown bottom in gold silver's got a rogementum indicator bottom and a wave number seven And the gdx also formed a rogementum indicator bottom So it's that area of the market john that i would say uh perhaps provides the biggest opportunity For each of us out there. So hope that that helped out really there was the we were looking at gold silver and the gdx mining area So you asked for two there would basically be uh three But it'd be more gold than the gdx as opposed to So we're gonna have to go back and take a good silver's chart to take a look at that two month Neat jerk reactions out there. So hope that helped answer your question and again. Thanks much for your call We do have a question that came in by email. We can begin at least start on that This was from david h and david is in uh panama city and david wants to take a look at amazon He's got the 128 calls out here and a concern right now for amazon is going to be today's closed So you want to really keep a close? Pay close attention to today's closed. There's a new bulbar structured profile david that formed out here a couple of days ago The bottom of that profile is 127 57 We're trading below that right now If we close below that that could be signaling a further move lower not a further move higher We'll finish looking at amazon for david in panama city as soon as we get back to the spring the gold report As a precious metal gold is still king It continues to hold the most effective safe haven and hedging properties across the global major trading hubs of the london otc market The u.s. futures market and the shanghai gold exchange the gold report tom obrien publishes his weekly gold report every monday morning for subscribers consisting of coverage of the xa u 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 obrien's gold report newsletter now at tfnn.com tfnn has just launched their new trading room the tiger zen 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 tiger'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 obrien 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 tiger's as they share trading ideas news analysis and discuss the market action all trading day Even at night and on the weekends the tiger's 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 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 up folks. We're taking a look at the stock charts here for amazon We know that it has a bowler structured profile support between 127 57 and 129 We know that volume pretty good volume today so far about 30 million shares in the first two hours of trading So that equates to about 30 60 90 maybe about 100 million or so now that 100 million let's say Is going into this wide-ranging bar that was 90 million So you're pulling back with similar looks like similar type volume Don't know by day's end if this volume will will keep up or not But similar type volume to that move up on june 22nd But the most important level for you to watch is going to be 127 57 now You need two consecutive closes below that David in order to signal that okay. Maybe there's a change in trend from a profile standpoint And that change in trend if we do get that I would then move over to the weekly chart and that one 2015 level is what pops out You've got an oscillator and change sign that recently changed colors It hasn't been tested and you could get a td9 count top that actually formed last week We need to this week's bar must close this for amazon this week's bar must close above 125 49 in order to generate a weekly td9 count top So you've got a rose mint and indicator top on the daily price possibly busting through a support level A potential td9 count top on the weekly out there And on the monthly chart prices up towards resistance at top of the monthly profile 133 54 So what i'm not seeing here even though we're in a little bit of a favorable seasonal cycle For the for the ndx 100 we covered that with john during that last segment out there I'm not seeing your trade here So you might be somewhere near your break even point, but you've got to decide what you want to do I've just shared with you what the charts are communicating to us now look We talked about the two bar knee jerk reaction We were looking at a monthly time frame chart when we took a look at goldilocks It applies to quite frankly everything figure two to four bars is your typical Reaction to the upside or to the downside or certainly countertrend a tight move here You can see that amazon since its lows has experienced a number of just simply two bar knee jerk reaction lows So david you really need to wait till wednesday to see how this plays out to make a determination Which today is bar number one you close below the bottom of the profile You probably get bar number two But is that the extent of the move or is this a change in trend now? I wish I had the answer that question because if I did I would absolutely give it to you All I could do is share with you the parameters and then you can make the decisions from there So hope that helps you out with regard to amazon and thanks much for taking the time to write in Dan inside the tigers then we just happened to be talking but I don't have that many I do have a few requests out here, but he was in ticker symbol agen I believe from around the 140 level right now trading out at about a buck 79 And it looks like this once does hadn't know this a beautiful set of charts out here To help us identify td9 count patterns now if you're not familiar with that pattern familiarize yourself with it Just subscribe to mastering probability. There's a workshop up there. It's an hour workshop You can again access to it. You'll learn the pattern and you'll be able to easily document your charts At least your daily weekly and monthly charts out there turns out that with regard to agonus Spartacus out there You've got a td9 count bottom on the daily You've got a td9 count that formed the bottom on the weekly and on the monthly You've got a td9 count as well. So we know that this and when we take a look at the daily chart This has a td9 count top out there. So dano You know one pattern you want to be paying attention to and everybody else who's now listening in Is going to be the td9 counts for agon But what price should do because it's above its green oscillator and change line That tells us that we are in bullish conditions out here Price should go target the level that it broke down from and that's at $1.85 and if you get above $1.85 Well, then you're up to buck 94 buck 94 is the center of its daily profile that above that we're looking at 267 213 and then above 213 you'd be looking at 267 So those are your moves to the upside out there agen and the best of luck to you on that trade Dizzle inside the tiger's den wants to take a look. Well first dizzle says That uh wants to take a look at the 30 year treasury because of uh of the correlation that it has To uh gold we're just talking about gold. So let's go take a look at first. Let's go take a look at that correlation So to do that, we've got to change panels I did this during the breakout there for you So we'll go move from this white panel set of charts to the black panel set of charts And then we'll go to the actual correlation tool that steve has So the top portion of this chart is goldilocks the center portion is the 30 year treasury And the bottom portion is the five date correlation When bars are above zero, which most of them are it tells us about a directional correlation between gold and the 30 year Bars that are below zero and it's a five day correlation Shows you about an inverse relationship. So if dizzle was to ask the question Does there appear to be a directional correlation between the 30 year treasury and gold? We'd have to say the answer to that question is yes Okay, so we've got that but the other question was well, what's the 30 year treasury look like it's doing out there So that's a great question and for that we need to switch panels as well However, let me just check one thing. See if I've got that up here still US dollar, I don't think I've got the 30 year Gold not that I can't pull it up, but I'm not going to okay So I'm just going to switch over to my white background set of charts out there So give me a moment just to get that going here This way to give you the outlook the outlook we need to take a look a longer term So on a monthly basis what we have out here is price trading with insider descending price channel And right now in a monthly base the 30 year treasury is testing the support of the bottom of its profile Too early to call on that, but a close below that would suggest lower price Turns out the weekly chart closed below the bottom of its profile And it's also trading below the bottom or is trading below red, osciter and change line So that suggests lower price So the monthly and the weekly are suggesting lower price and that would suggest then With regard to the pattern that I took a look at in the answering john's question What's one area that we might consider? I mean formed some type of major top or bottom Oh, that would say that I would be have to be wrong on gold if it's going to move lower Because of the directional correlation between the 30 year out here and when we take a look at the daily time frame out there What you will see is friday was bar number six today will become bar number seven or should become bar number seven of a td9 count That says on a daily basis the 30 year treasury could find support Could find a bottom. I should say between tomorrow, tuesday and thursday of this week Well, if that's the case, we're really just testing profile support levels on the monthly Which doesn't end for quite some time out here and the weekly which did close one week last week below the bottom Is profile but could regain it this week. So to sum up what's the 30 year treasury look like? I'd have to say at this stage everything is signaling to move to the downside. That's a kind of a bullish Indicator and what I mean by that is because the daily's got a td9 count bottom pattern that could actually form tomorrow Confirm on wednesday and complete on thursday out there. So disil. I hope that helps you out with regard to the 30 year As well as gold. Thanks much for taking the time to write in We've got another question two questions have come in by alton And we'll get to those as well and alton is asking. He's got a two-part question out here So the first question is I hope you're doing well if you have time for two questions What is he the 10 year rate in 2024 and beyond? Wow I don't know that I can do that But what we can do when we get back from this breakout here is go take a look at the 10 year bond We'll pull that up on my screen out there and we'll at least take care We'll see at least look at that. He also wants to take a look at bank of america bac Zero to a tf and n 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 and n dot com The opening call newsletter is written by basal chapman creator of the trading methodology known as the chapman wave The chapman wave up down sequence gives you an edge in identifying price turns finding the peaks and valleys and stock prices Get the opening call newsletter by basal chapman in your inbox every day First time subscribers also get a 30 day money back guarantee if you're not satisfied Let us know and you'll get a full refund within 30 days of signing up tf and n dot 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 and n dot 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 and n dot 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 etf's 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 lc This program is brought to you by vista gold traded on the nysc american and tsx under the symbol vgz Folks so we're going to take we're going to start take a look at the 10-year treasury the 10-year note out here And I can't pull up the tnx because in order to do that I've got to shut down a bunch of things and go to a different data feed out there So we're going to look at the 10-year treasury uh for you first alton So if I were to start with the longer term picture for you because you're asking 2024 what's it look like We're looking at the monthly time frame chart here Now in the monthly time frame chart one would argue that there's an a to b equal cd to the downside that is also That has already begun and that one to one would get us down to about the 101 level So the bigger picture right now we have a td9 account bottom that was uh violated that was negated That was negated back in september of 2022 When that was negated that also set up or triggered an a to b equal cd to the downside now We can see that we have a roadsman to indicator signal It's also been triggered on a monthly basis if we were to see a bullish reversal candle That would confirm a roadsman to indicator bottom So the monthly or larger term time frame something that you are interested in Suggest that interest rates should continue to rise whether it's 10 year or other If we look at the weekly time frame chart now The weekly time frame chart. So this is really a couple different things number one When the uh 10-year note had uh our 10-year note had bottomed It was back in october octo week of october 21st Back in 2022 and that was a td9 account bottom the bar following bar number nine It also then generated roadsman to indicator bottom that was confirmed the following week when there was a bullish reversal candle that formed out there That low is what's being tested as we speak. So it's a bottom It's a td9 count its roadsman to indicator bottom And at the same time that is happening last week was bar number eight of a td9 count So in this case here a bullish reversal candle just like in the last weekly td9 count to a roadsman to indicator bottom Really the crmi bottom a bullish reversal candle would confirm a bottom likewise You might get a confirmed Td9 count bottom this week in order to do that Priceness needs to close below the close of bar number five out there So at this stage here that seems like a likely outcome that closed at 13 01 out there So that's something to be watching now. That's the weekly chart So the weekly has the potential For a bottom pattern and the daily today could confirm a buy the d-point pattern. So there's an a to b equal cd Let's pull this back here so that we can see this Give me a moment. Okay. So here is the september contract for the tenure note You can see the a to b equal cd the one to one has completed What you need now is a bullish reversal candle to confirm its bottom So we've got one picture for the monthly into 2024, which is really what you were asking And that pattern still remains in effect out there that says lower price. However, that's a longer term picture We've got weekly daily. We could even go intraday, you know and try to get real play by play But on the daily timeframe it says we're about to get a timeout The timeout says we're about to see Rates begin to pull back a bit because a tenure note if we get that bullish reversal candle We'll confirm a buy the d-point pattern now What price should do is go target that oscillator and change line The oscillator and change line is currently printing in the 111 On about a half a type area and a price can overcome that Then we would be getting a signal on a daily basis of a change in trend So Alton, I hope that that helps you out with regard to the tenure note out there Um, again, different timeframes are going to provide us with different views The larger timeframe you can then see what the play by play is going on in the weekly and the daily So if that helps you out, thanks much for taking the time to write and you also Want to take a look at bank of america and your question there was buy Sell or hold so let's go pull up those charts and see what they're communicating to you and I Let's see if I can find them first. Here we go. We got bank of america now When I take a look at these charts here, Alton Got daily weekly and monthly, you know It sticks out to me when I take a look at the daily is a consolidating pattern sideways When we look at the weekly we get to see it even more clear that consolidation pattern Nearly running from the bottom of the profile, but not exactly the bottom up to the center line of that profile That 29 52 is a real key level of resistance. Your question was buy Sell or hold would we sell it here? um I don't have a signal Necessarily to say sell right now. You've got this confirmed rogeman communicator bottom That confirmed on the trading day of march the 27th out there that actually formed on march the 24th Uh, you are trading with inside a profile or are you above it? Uh, you are above the top of the daily profile So I was very very difficult for me to tell you to sell this position out there But you're with inside a consolidation So the best time to buy a consolidation if you were interested in buying the consolidation Would be town towards the bottom of that pattern in this case here You're above the top of the profile if price were able to get back inside that profile That would mean a close blow 28 43 Then I would say your 2780 and 2801 would be the area that you would be looking to add to a position Of course 27 39 looks mighty nice. That's the bottom of that weekly profile So that's what I see when I take a look at bank of america to be answer the question buy sell or hold I don't think we did because it really depends if you're in the position You're in a consolidation. So you hold would you sell it? I think we did answer that I'd say no we don't sell it would you buy it if you were to buy it buy it towards the bottom of the consolidation So I guess we did really answer that question for all done. That was the twofer We also have a question here from uh, hector and patty. They want to take a look at the energy sector the xle So let's pull open their question Which reads like this That'd be marvelous monday. Well, thank you and same to you xle had an encouraging candle on friday Um, is he actually about to rip to the top side? So, uh, what what friday's candle did if you take a look at these white background charge What friday's candle did and the encouragement that hector was looking at is price closed above the top of a bearish structured daily profile that bearish structure to the cell zone was between 80 11 and 80 58 price closed above that you're getting follow-through today Um, oh, that's not the top of the profile. That was the center of the boulder structured profile my apology Stevie's eyes. Okay. Sorry about that. So what that then tells us it is still a promising candle Because you're closed above the center of a boulder structure profile. You're having follow-through today So if this is really signaling to you hector is a move to 80 197 80 197 is the top of that daily profile. You can see on a weekly basis here That price has found resistance once again at that weekly oscillator and change line We've only seen two closes above the oscillator and change line on a weekly basis january 27th out there So we really need to see two consecutive closes above that line Which currently is printed at 81 30 81 40 right now But we don't we need to worry about that that price point But we do need to see two weekly consecutive closes above that hector I believe in before we would get a signal that price is likely to move to the upside out there So on a daily basis. Yeah, concurging candle on friday But it could run into resistance as it approaches that 81 97 level if it can take that out Then we're looking and move to 8302 and above that 84 72 and above that 85 94 and above that 89 14 All of that was courtesy of either the market profiles or the oscillator and change line So hector and patty, thanks much for taking the time to write in. I hope that that answered your question and That you guys have a marvelous monday No other questions by email I'll have to go through during the break to see if there was anything else They came in through the tiger's den kind of hard for me to Manage both of those but what we can do is what can we do right now? Let's see what we want to go take a look at here with just a few seconds I'm gonna go. I'm gonna vote for nothing Actually, the one thing I will do I'll flip back to another screen out here. We'll take a look at apple That's for dancy inside the tiger's den and what apple is doing right now It's pulling back into its bowler structured profile And that zone of this bowler structure profile is between 185 96 and 187 85 We're trading right now 187 87 Right back 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. Yo brian delivers options and equity trades when the markets present them using a combination of fundamentals and technicals Sign up for rocket equities and options report today with a 30-day money back guarantee So you have nothing to risk for all the details and to start your 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? 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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 Looking back on folks. So one of our denner's Inno visual was kind enough to let us know that the anastac is going to do some rebalancing Of seven it looks like seven of the stocks out here This article looks like it's coming from the i vd perhaps And this is going to take place two weeks from today On the today's attempt on the 24th and they will announce on the 14th So that is friday of this week what that rebalancing is going to look like in other words What percentage will up so the seven hour microsoft nvidia tesla google meta and amazon out there It's not going to it's not going to adjust apple interesting Is that two one two three four five six seven yeah, those are the seven out there because meta Google you've got for two different instruments out there So just something to take a note of and i'd watch those seven instruments to see how they are Trading out there and understand where support is that for example, we can go take a look at microsoft here real quickly I see what screens are we on Not on that but with regard to microsoft here msft. Let's put up The daily and the weekly set of profiles out there So in the case of a microsoft price is trading below the bottom of its daily profile Now in order to generate an a to b equal cd pattern of the downside price going to need to take out the swing point from june 26 That swing point did 21 million shares. Well, you're already at 15 million shares So you got to watch 328 49 if you get a close blow of 328 49 But that would then do is generate an a to b equal cd to the downside That a to b equal cd to the downside would give you a first price projection of 320 One out there on a weekly basis. You are With inside a profile out there So if we get that a to b equal cd to the downside 320 one is one target, but 306 96 is another target In fact the buy zone on a weekly base for microsoft is between 300.65 and 306.96 out there So folks, uh, thanks much for joining me on magnifs and tomorrow is monday Please stay tuned. We got a great program lined up. I'll be back with you tomorrow on terrific Tuesday. Be safe out there Have a great day. Take care