 Welcome back folks, Dow, Dow Industries up 43, we get the Nasdaq up 22, S&Ps up 7.5. Let's go over to our man, Mr. Steve Rhodes, as we do each and every Monday at 20 past the first hour. Don't forget, folks, Steve's has an outstanding show here, every trading day, one to two Eastern Standard Time. And no matter where you're listening, remember that all's you have to do to get some great video, audio, go to YouTube, put TFNN in that search bar, bottom line right on your phone each and every day. Some great program, eight, nine o'clock in the morning to five at night. Steve also has a great newsletter, Mastering Probability. Now the way you get this newsletter, folks, come over to our website at TFNN, you're going to go right into featured content, you're going to see Mastering Probability. I'm Mr. Steve Rhodes, you hit subscribe, you can get Mastering Probability for one month for $149, six months at $695, which is $199 savings, a year for $1195, which is at $593 savings. All of those folks come with a 30 day money back guarantee. So you have everything to gain, nothing to lose. Steve Rhodes, what's going on, brother? Well I was thinking about you yesterday and the reason is I was, I'm planning a trip to Japan. Oh, sweet. And as, and of course as part of that becomes the flight arrangements. And I haven't been to Japan for a number of years and thought it's time to go back. I love it over there. And but the reason I was thinking about you as I was starting to take a look at flights was imagining the jet lag that you must have. Because I've taken that trip direct, you know, a number of times. And so how are you doing, how's the jet lag? You know, I was lucky I think, it's a long ride, there's no doubt about that. But I got back, I left on a Sunday night. So pitch this, I left China and I was out of the factory town. So I actually left China, eastern standard time at 6 o'clock Sunday night and got back and Tuesday at 11 in the morning. But listen, I went home, fell asleep, woke up at 3 o'clock in the morning, took my dog for a walk, came back at 4, went back to sleep, woke up at 6 and I felt good. That's great. What's your big takeaway, would you say, your top two or three things? They can build anything and they, you know, the smog is a big deal, there's no doubt about that. They'll get that straightened out but they can build anything, man. And they're efficient, I mean, if you get, people got a chance, go there folks. I mean, they took 700 million people out of poverty in, what, 30 years. It's real intense, man. I mean, you cannot comprehend how many buildings there are, high rises and they're filled. I drove three and a half hours and they never stopped. Yeah, yeah. So imagine this, many years ago, probably 15, 20 years ago when I was over there doing a theme park deal, I caught up with a bunch of guys, a few guys that were from Australia that were doing a hot air balloon kind of a ride, so to speak, at this theme park. Basically it was going to be on a tethered line to take people up. But I became friends with these guys and we took their hot air balloon over Southern China. And of course, we had a chase car but we're flying over, first there's a lot of barren land out there as well. Yes. These large cities, large cities, five to 10 million people. And then the folks would be looking up seeing, it's not like there's hot air balloons flying over China that often. And we landed because we could see that we were coming across a river where we couldn't see where the chase car would get us. So we didn't want to be stuck. And so we landed in this field, it was a weekend too. And we landed in this, like a high school field. And there were some guys, Chinese guys that were playing basketball. And so nope, they didn't speak English, we didn't speak Chinese, but we got to pick up basketball game going while we were waiting for the chase car to come pick us up. But let me give you and folks kind of a take on really what I see inside the market, things to be aware of. And the first thing, Tom, is the seasonal cycle. So we're about to end April. And this chart here shows a seasonal cycle over the last 87 years for the Dow, and shows that there's a topping period, the old cell in May, really the typical average high that forms inside the Dow, two different time periods during this, we'll call it the unfavorable seasonal cycle. The first is towards the middle or third week in May, May 19th. Then there is, and then it's typically moved down into the late June timeframe, a nice bounce into about the third week in July, and then the move down into the fall timeframe, typically in the middle of October. So we should just be aware that that seasonal cycle is present. And what we do is we use that to take a look for other patterns that could be completing around that time period to line up with the cycle. So if we take a look at the Dow, and as I heard you talk about the Dow, it remains in a consolidation. As great as the markets have been, the Dow is still in a consolidation. That seasonal cycle is what we were looking at for the Dow. And for me, a real breakout of this consolidation doesn't occur until 27.302. Now clearly, as you pointed out, the January high of 2018, 26.616, that's another level. But the reason I come up with the 27.302 in order for a real breakout to occur, Tom, is by taking a look at the Dow's horizontal trading ranges, which is what we have up on the screen right now. And these are the monthly chart. These are the monthly horizontal trading ranges. And interestingly enough for me, we've got a nice little rising trend line between the January 2018 and the September 2018 highs that really coincides with the next horizontal trading range resistance or boundary line at 27.302. So that's how I come up with the 27.302. For me, a real breakout would not occur until the Dow were to close above that. But in order for the Dow to do that, it's going to need to overcome. And this is the Dow Equity Futures contract, folks. And this is the daily timeframe. There is a topping pattern that completed last week. And this is a three drive to a top. When I say complete, for me, patterns complete. The way Tom, the market talks, walks and squawks for me is at the end of a pattern. I, in this case here, this would be a bearish pattern. I would see a bearish reversal candle. That's the way that the buyers and sellers are communicating to me what their intention is. And so if the Dow is going to make its way higher, it's going to need to overcome that three drive to a top pattern. The high from last, I think it was Thursday or Wednesday. And if I take a look at whether that can happen, I look at the Dow Equity Futures contract. And right now I have on my screen here the daily resistance level that was formed by our TAS market profiles. And that's 26, 613. So in order for the Dow to really move above a level that says, hey, we're entering this time period here of the seasonal cycle, we'll get caught up in the cell in May. I can see some real resistance in summary. The Dow is in its consolidation pattern on a monthly timeframe. It's got a, it's got a topping pattern on the daily timeframe. And there's some resistance that is built in real quickly here for folks. Yes and P. Yes, it's at new all time highs. But for me, a breakout's not going to occur until price closes over 3,000. It's really using the same set of tools. Tom, you'll see the horizontal trading range at 2,993 here for the S&P for its monthly timeframe. But we've also got that rising trend line. So that's the range 2,992 to 3,000 for me is where the real breakout inside the S&P on a daily basis for the ES mini. This is in wave number seven. That's letter G on my chart. We've also got an A to B equals CD pattern. If a bearish reversal candle shows up there, that gives us an indication of the top. But it's, it's iffy whether that's really going to happen because price is above Tom daily, weekly, monthly, quarterly, TAS market profiles for the S&P 500. Listen, man, you have a great one, safe one. We look forward to your show tomorrow. You bet. Thanks, Tom. Have a great day. Stay right there folks. Come right back.