 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 August 4th. The fantastic Friday edition of today's Trader Zed Show. I'm your host, Steve. Perseverance Rhodes, who absolutely knows that each of us should always be pioneers of our future versus prisoners of our past. I hope enough there's having a great day. Let's make sure we have an extraordinary one. Now, the easiest way to do that? Well, it's always remembered that life is happening for us, not to us. That's right. When you and I make that one little two-by-four shift, which we can find the gift, in every set of circumstance, 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 do want you to know I am 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, dial on in at 877-927-6648. Now, if you've got a question, which you can't call in, you can always send me an email. Please send that early and send it off to Steve at TFNN.com. And inside the subject heading, please put radio show question. Now, if you're inside our tiger's den, well, then any and every ping will do. So let's go ahead and get this show started on fantastic Friday. Of course, this is Tiger, Financial News Network. I'm Steve Rhodes. Welcome to the show. Right now, we've got most U.S. Indies trading to the upside. The trainees are just down slightly about five points. The Dow is up 179.5%. The S&P is up 5.5%, or 25%. The Nasdaq's just jumped to about three quarters. 111 points there. The Russell's up 4 tenths or seven points. And the Semi is up seven points. Two tenths of a move. Goals of $5. Silver's off four pennies. Light's recruit up 59 cents. 30-year Treasury printed out at $1.2115. That is up one point and four ticks. Leading the charge, dollar-wise, the upside. You've got booking holdings of $278, 10% move. Liberty Media, $35, 3,500% move. Was that taken from death? Wow. At Lassen Corp, up $32, that's 18% move. iRhythm has got the rhythm going today. They've got 20%. That is a move of $18 in change. Resmet is the loser. Up $37, 17%. Paloal Network's down 21%. 9%. Mass Tech off 21%. 17%. Fortinet is off 18%. Or 24%. We've got some real shakers out there. And extra space storage needs some extra space. They're down 11. Buccarunis. So let's go take a look at the equity markets out. There are a number of things really for us to take a look at today. The first one, so before we go move over, the first one we want to take a look at is a spotball utility index. So let's just come here. Let's expand out this chart. There we go. So what we can see right now is a spotball utility index is testing its 50-day exponential moving average. If your question is, is the rally going to sustain itself, or is it about to end? The answer or portion of that answer, at least for the S&P 500, the ESMini is going to come from this chart here. So the level to really be watching is 1476. We're trading at $1489 right now. If price closes below that, begins trading below that, but certainly closes below that. That should lead to a further rally. So you want to watch today's close inside the spot volatility index. So far today it is down percentage-wise, only about 6% to the downside. So that's the first level to take a look at. What else should we look at on the screen? Let's take a look at where we're at market-breath-wise. So let's see what we're stacked up against here in the market. So this is the S&P 500, which is bearish for its daily 240 and its 60-minute timeframe. On a daily, as an example, there are 101 insurance trading above profile, 215 below. What this says is even if the market's trying to form a bottom for a rally for a couple of days out there, you've got to expect choppy conditions. On a 60-minute timeframe, 94 above, 180 below. So with regard to the S&P 500, the weekly is still bullish, but the other three timeframes are not. Now we'll look at the 30-minute here momentarily. First, let's take a look at the Nasdaq 100. In the Nasdaq 100, we're getting close to kissing cousins on the 60 and the 240. Now, if you're asking, can the Nasdaq lift the markets higher? The answer to that question we know is yes. 32 above, 33 below. When we take a look at the 60-minute timeframe chart, 4-hour chart, 28 above, 33 below. Daily timeframe, we're dealing with 24 above and 36 below there. So it's trying to turn the tide. We'll take a look at areas that price needs to close above, move above to suggest that tide is turning. But right now, we're still negative, 60, 40, 240 that is, and the daily timeframe. A quick peek at the 30-minute timeframe just to see where we're at here. This is going to show us the S&P 500, 151 above, 135 below. So here we do have some positive market breadth. We want to certainly take a look and see what's going on on the 30-minute chart. We have that same situation inside the NDX100. 41 above and 18 below. Okay, so that gives us at least our framework. We're at the framework of understanding where price is in relationship to that spot politics, especially come the end of the day. Right now, we're just kind of sitting right at the top of that 50-day. Let's go switch over and now take a look at our other charts, our equity future charts, our multi-time frame set of charts out here. So switch over to these white background screens. We'll begin with the end queue, but let's look at the 30-minute and the 60-minute specifically. Actually, you know what we're going to do first? We're going to look at the 15-minute. We did this yesterday, and the 15-minute actually is one that is telling us a story out here. Let's go see what's that story, Stevo. The story is this. Remember, we took a look at this chart and we said that basically, I believe it was since July 30th, we have not seen or we had not seen the 15-minute chart close above other than for one very small section of time, which was about an hour, close above a TD9 count breakdown resistance level. Now, the first level, we took a look at this yesterday. Price was cruising through. It was at $15,545. Well, what we saw during the day, what we saw at $1645 yesterday afternoon as Apple was releasing its numbers out here, we saw Price spike down and test that breakout support level. That's a bullish signal. We also saw after the jobs report was released this morning, we saw that same spike down to that 15, 416. That's a support breakout level. On a 15-minute time frame, it was tested twice, once after the release of the jobs numbers, and again at 10.30 this morning and at 10.45. This level has held. That is providing you and I with a ton of information. If you're asking Stevie, where is support and can you prove it to me in the NQ? I can. If you're looking at it right now, it's at 15, 416, 25. The price closing below that is curtains. No, it's not curtains. It's just as we head back to the lows out there. But what we're looking at right now at 11.13 in the morning, this candle is going to close in less than two minutes here, is prices beginning to trade above 15, 5, 24, 50. That is the next TD9 count breakdown resistance area out there. So you want to watch that. So this is giving us the important message here, not so much the breakout area, but the mere fact that these support levels, even on a 15-minute basis, have been tested and have rejected. Now, in order for the NQ to really be on its merry way to the upside, this is not really the question out here, in order for that to unfold, here's where we take a look at the 60-minute time frame. I know I said 30-minute. We'll go take a look at that. But in a 60-minute time frame, yesterday we had a nice rogment of indicator bottom that formed. Actually, it was five o'clock in the morning. That was this morning. So at five o'clock this morning, we get a rogment of indicator bottom. That leads to a TD9 count top. That leads to a pullback back to breakout level of support on a 60-minute basis at 15, 431. Those levels have held. We also see that the profile of 15, 543 has held. Well, here's the deal. And it's pretty simple. We get a close above on an hourly basis, a close above 15, 5, 60, 250. Yes, this market will continue to rally. On the target, maybe 15, 849, 25. Steve Rhodes with TFNN. 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 Kegstad's Tiger Forex report. Teddy Kegstad 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's 60-minute webinar archive. 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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. Folks, let's summarize what we reviewed during that first segment. And this is the following, number one, we should expect to anticipate choppy markets. The reason is because when we take a look at the market breath for the intraday time periods, including the daily, we see negative market breath with the exception being on the 30 minutes. So the 60 and the 240 and the daily, they're negative. So expect a choppy market. We've also identified a key level of support inside the NQ and I really think it's more about the NQ than it is anything else. And that level of support was 15, 416, 25. You don't want to see a close below that. If you do, that says we're head lower. Likewise, we also identified a resistance point. Now we're looking at this intraday, because that's really what we need to do at this stage here. And if we do get it close, about 15, 5, 60, 250, you should expect to anticipate that the market will continue to rally, at least the NQ will continue to rally. So choppy conditions. So hopefully that's a good overview for you. Let's get into some requests that have come in. I don't want to get behind on these. And you may recall yesterday there were a few that came in at the end of the show that we didn't get to when I want to. So we're coming in from Sat P. So thank you for being patient and waiting. And Sat's question was, I think we might have looked at this real quickly yesterday with regard to Disney. He was looking for a buy point. And I said, well, basically yesterday would have been a potential buy point for him. And the reason was on the daily timeframe, on the daily timeframe, what we have out here is a roadsman to indicator bottom pattern. We also have Disney point back into a swing point. That's a swing point from July 17th that did volume of 34 million shares. Now yesterday, the volume, hold this away from the wall. Sorry about that. Did volume of 14 million shares. So you're coming into a swing point into a bottom with much lighter volume out there. And so no pattern other than just testing that swing point with lighter volume. But that in itself is a pattern. Really one of the first patterns that I learned from Tom, probably the same for most of you out there. Now what we have inside of Disney is prices back above. It's an oscillator and change line. So Sat, if you did take that position, your resistance level is going to be up at 8830 and 9037. Those are profile levels. That's at least coming from the daily timeframe. A review of the weekly and the monthly see if there's any additional information out here. Really not much to assist us. There's certainly nothing super bullish here. But on the weekly chart, you do have that roadsman to indicator bottom with price point back in testing that swing point, that swing point being December 30th back in 2022. There was 60 million shares that traded that week. This week so far we're at about 66 million. But of course that's a holiday week that December 30th. So you kind of have to use that volume, I think, and maybe make some mental adjustments out there. So I do hope that that helps you out. And Sat, thanks so much for awaiting on that one. Before we get to his next request, though, we're going to go out to Boulder, Colorado. And we're going to speak with Roger. Roger, thanks for calling. Thanks for holding. How are you? Oh, wonderful. Thanks for taking my call, Steve. My pleasure. My pleasure. So, Fortinet, FTNT is a ticker symbol that you're calling about. What are you doing and how can I best help you? Well, I'm in pain with this today. And I see downward trend, and it's going to go somewhere between 50 and 51 based on a higher volume in the past. And I was just wondering what's your opinion on this? Well, I feel your pain, and I'm sorry for that. This thing fell out of bed this morning. It closed yesterday at about 76 and change and actually 75, 76. And right now it's trading at 57 buckaroos. So let's do this here. Let's take a look at these charts a little bit more in detail. I think your first question basically where is this headed to? Would you say? Correct. So what we'd have to say here on a daily basis, the level that I would be looking at would be about 51, 79. And 51, 79 is another breakout area. It's already below at this stage here, the first breakout level that I would have been looking at, which was 60, 50. Looks like you probably will close below that area. If it stages a nice rally and that holds, that would be a short-term positive for you. But if it closes below that, it's really suggesting that 51, 79 is a target. The weekly timeframe chart, which has a TD9 count top, it formed that a couple of weeks ago. So that was kind of your warning just simply to be careful out there. And then a couple of days ago, when price closed below the bottom of its daily profile, that was another concern. And yesterday, it also closed below that. That was signaling to you a change in trend signal. Now where is things headed to? Or where are the next support levels? We have to go all the way to the monthly timeframe. Roger, for me to be able to identify support. And we're at one right now. Now, if we take a look at this profile, it's somewhat equal. In other words, what I mean by that is the center seems to be pretty much in the center of the profile. So it's not like this is what I would call a strong support level. It is a support level in that at a center of a profile, Roger, you have both buyers and sellers. In fact, this is where long-term buyers believe that the market is fairly valued when price is within this range, which is between 48, 32 and 63, 79. So prices sitting in an area of support, 56, 05. So if price is going to get down to that 51 area that I had first discussed with you, you'll need to see it closed below 56, 05. Don't know that that's going to unfold today, but that would be the next area for you to look at. If you do get below that, then price is likely headed to 48, 32. So I would say the range to the downside where Fortinet is likely to find support is somewhere between 48, 32 and 51, 79. At least that's as of the moment at this point in time. Does that provide you with what you're looking for? Is there some other commentary or anything that maybe I've said that I need to clarify for you or any other help that I can be? No, actually, I really appreciate that. That's the number I was 51. I was looking at it, but I got to watch 56, 05 now and then the decision based on that. Now, it's a monthly chart. Go ahead, please. It's a monthly chart, so it's August the 4th and 5th, right? It starts trading below that. It's not really a full confirmation, but I would say in this instance here, it's a pretty good hint to you that it would go to seek out those lower prices out there. So you had a second instrument that you'd like me to take a look at? Yeah, I'm in pain with Palo Alto Network. P-A-N-W. Palo Alto Networks. You're going to get a third one because we want one that you're celebrating on Friday. Oh, it's on Amazon. All right. So here we take a look at the daily chart here for Palo Alto Networks. Formed an erosement to Mindicator atop. Now you've got an A to B-equal CD to the downside because it's taken out its swing point, its B-point, which was from the day of July 12th. There was volume there. There were 17 million shares. Today you've already done four million shares. So it looks like it's about that type of volume. So you've got an A to B-equal CD. Now, what that means is that if you were to see a bullish reversal candle form, you know, Monday, Tuesday, Wednesday, that would actually be a bottom signal inside of Palo Alto Networks. Short of that, and I'm not saying that one is going to form, I'm just saying if one did, that would then complete your buy the D-point or a currently buy pattern. Typically, the D-point, an A to B-equal CD doesn't end with a wide-ranging bar and that's what you have today. So I don't expect it to be today to be the bottom, but you would be looking over the course of next week for some type of bottom signal. Short of that, the price target on a daily basis for Palo Alto Networks is going to be $194.08. That is where price broke out from. But before price gets down there, it has another potential support level and that's going to be at the bottom of its weekly profile and that area is $209.47. So I would say you need to watch $209.47. That should be strong support and the daily you're watching for a bullish reversal candle. If that doesn't happen, again, watch that $209.47. If you get below that, then you know that price is likely headed to $194.08. Roger, does that answer your questions on Palo Alto Networks? Thank you so much. I really appreciate all your help that guiding us through this. You bet. You bet. Great to hear from you and have a fantastic weekend. See, bro, it's with TFN. We'll be right back. We're going to take a look at Billy, BILI. That's for Sat P. He's looking for an entry point. Gold report. As a precious metal, gold is still king. 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You're trading into its prior swing point. From July 31, there was volume there of 8.3 million shares. You pushed into it yesterday with 12 million shares. That suggests, as long as price remains inside that swing point, that price wants to go test that high. And above that high, that high, by the way, is a total, is priced out at 1915. At 1936, your TD9 count breakdown resistance. Now, you're looking for an entry point and it has the cell, the D point and its tested support on the daily makes it a bit, makes it a bit difficult. But your entry point, we can see just simply from price action would be a pullback to that green oscillator and change line but just recognize, you've got the resistance of the cell, the D point pattern and you've got the resistance of the TD9 count breakdown. At 1936, it's not really a great reward risk but maybe it's a very short-term trade. Now, the monthly chart, the weekly chart, I should say, has a TD9 count bottom with a consolidation with inside its profile. It says that over time, after it can deal with 1936, it will make its move to 2060 and then 2253. It will do that as long as the monthly chart can close above its red oscillator and change line. Something that we haven't seen closed above its oscillator and change line until maybe it takes it back to 2021. Let me see, what is this? July of 2021, actually was a June of 2021. So that line is going to be a really important level out there. Let's pull this chart, I'll give you what that number. That's the oscillator and change line of the monthly. 1907 is going to really be your key level. So at this stage here, I don't know that I'd be looking for a buy point instead. What I'd like to see is I'd like to see these resistance levels fail, and then you buy that first pullback out there as long as price remains above those resistance levels. So, sad, I hope that that helps you out with regard to Billy Billy. Lee wanted to take, look at Roku. So let's get up those charts here. And the question was, where is it headed? They had good earnings. So this yesterday, or two days ago, I should say, formed a Rosemont to Mindicator top. That always says when you form a top, I don't care what kind of top it is. Sell the D point. Save top, a Rosemont to Mindicator top, a TD9 count top. Always going to pull, or should always, pull back to sport. What happens if it doesn't? But if it doesn't even pull back to sport and it takes out that topping signal, it just tells you how strong of a move that is underway for that specific time frame. Here, what we can see is that today, Roku has pulled back and tested support. Two levels of support. Does that make it stronger? No, it just means that there are two levels of support that has tested, and I don't know if you reject them by the end of the day. What are those levels? The first level is the bottom of its profile. The bottom of the profile is an 8614. The other is the oscillator and change line. The oscillator and change line is currently printing at 8633. Those are your key areas of support. If Roku closes below the bottom of that profile, because that would take care of it, 8614, this will head lower. Head lower to wear. Excellent question. My initial instinct would say takes you back to $74.98. That was a TD9 count breakout level. That was old resistance. That could become new support. That is not the message at 11.33 in the morning. Right now, you've got price holding support. Now, when price gets back to a support level, what you like to look for are intraday chart signals. Now, I only have a 30 minute here just for the efficiency of being able to pull up these charts from a show standpoint. Ideally, I'd be looking at a 15 and a 65 and a 30 and so forth. I think you know the time periods that I use for cash instruments that are traded during the regular trading hours out here. Now, when we take a look at a 30 minute chart for Roku, what I don't see is a bottom signal. Even though price has found that support here, it's kind of iffy with regard to whether we'll hold. The 30 minute chart says, hey, Stevie, what I want to do here is I want to make a move. I take that back. It seems updated. It actually has formed a TD9 count bottom. Which is really what you want to see when you get back to a daily level of support. You want to see intraday patterns forming bottom. So Roku, it does have the chance to hold that level. So right now, what you want to watch though is certainly the low of the day because if that gets taken on a 30 minute basis, well, it first tells you price would go target $84.09. Your price closes below that though. This says that this wants to continue to move higher. This being Roku out there. So Lee, I hope that helped you out with regard to Roku. Your question was where is it headed to? Well, right now we know where it's headed to because it's sitting right on support and if that level fails, we know that $74.98 is the next area to take a look at. Let's go take a look at Goldilocks. This is for Nicholas. Again, Nicholas Wei. I thank you for waiting a full day for this review out here. As we take a look at Gold, where did I put the Gold charts? I think it's right here. Oh, I didn't do that. Dang it. There, shoot. Now, you know what I'm going to do is I'm just pull up the other Gold charts out here. So give me a moment. My apology. I'm just trying to make things efficient and guess what? I made things inefficient. Oh, well, the thought was good, but the action was the wrong one. So now let's take a look at Goldilocks out here. Now, what Gold did this morning actually might be easier just simply for me to show you on this chart. Let me just expand this out. We'll come back to these charts here, but let me show you what Gold has done this morning. So give me a moment. We're going to switch charts. We can get to the black background screens. What it's done is it's tested two areas of support, two areas where it should have tested and it has rejected those areas. So let's talk about the first level. Now, we're not in this chart. You can't see it, but 1959-40 is a TD9 count breakout level for the daily timeframe. When we switch back to those white background charts, that's what you're going to see. And we need to turn back those white background charts to truly get a feel for what also was going on here. But that level of support was tested and rejected. The second level, which is perhaps more important or just as important, not that much further I take. So 1959-40 was the top of the swing point from June 29th. My recollection, I went back to the August contract. I think it was like 161,000 contracts. I think we're like 140 or so today. I'm not showing that on the screen right now. But in any event, prices test and reject the top of that profile, 1959-40. 1954-30 is a TD9 count breakout level. That too held. So we know that price held support. The question is, can price break through resistance? It doesn't just mean because it held through support that it's automatically going to go higher. We have to understand where the resistance levels are. When we take a look at this daily chart here right now for Goldilocks, we can see that price is dealing with two resistance levels. The one that's most important is the bottom of the daily. And the bottom of that daily profile, which you'd love to see price close above if this move here is real, is 1983. It's also at the center of its weekly profile, which is at 1980-80. But we'll make 1983 the real key level. So what we do have this morning is a test and rejection of two key support levels. What we don't have is a bottom pattern. However, that can be a bottom. Remember earlier I said that was really one of the first patterns that Tom taught to me, which was a test and rejection of a swing point with lighter volume. What we don't know is what the volume is like today. Certainly during Tom's show, I'll probably be able to dole that out to you if it was a test rejection on lighter volume that makes it even better. If it wasn't a test rejection on lighter volume, we're likely to retest that swing point, 1959-40. Okay. Now we're back at the white background charts. The reason I wanted to put these up here was really to take a look at the daily timeframe because even though we have, or Gold has that is, tested key support levels, it's also rejecting key resistance areas. And that key resistance level, we took a look at the bottom of the daily profile, but we also have that red oscillator and change line. And that number is at 1984-70. So let's just make it 1985 that Gold needs to close above to at least tell us that it wants to make a move back up to the 1994-2006 area. We've got a test rejection of support, but we also have a test and rejection of resistance. Sorry about that, folks. It is what it is. Steve Rhodes with TFNN with your A&N. You might think that if you want to be successful at trading in the stock market, you're going to need a crystal ball. After all, it's impossible to predict the future, right? Like any endeavor in life, before you decide it's impossible, get some advice from the experts. You might find that it's not so impossible after all. For daily market overviews that give you direction on the key indices, selective stocks, and commodities, subscribe to the opening call newsletter at TFNN.com. The opening call newsletter is written by Basil Chapman, creator of the trading methodology known as the Chapman Wave. The Chapman Wave up-down sequence gives you an edge in identifying price turns, finding the peaks and valleys in stock prices. Get the opening call newsletter by Basil Chapman in your inbox every day. First-time subscribers also get a 30-day money-back guarantee. If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up. TFNN.com Educating investors. Everything in the universe is governed by the Fibonacci sequence. This mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market. To stay on top of stock patterns you can take advantage of, sign up for the Fibonacci 24-7 newsletter at TFNN.com When you subscribe, you'll get a weekly report from Veteran Day Trader Larry Pezzavento 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 feedback 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 TFNN.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 C-H-A-U or C-H-A-D 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 866-476-7523. 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. Start the meme section of today's show and we're going to take a look at AMC, this is for Dan inside the Tigers Danny and Dan when I look at the daily chart here for AMC it's bullish. It's bullish because price is trading above the top of its daily profile at 463 and it's trading above its green oscillator and change line at 480. Now this is going to be day number two of consecutive moves higher or it appears that it will. So that says that we should see some type of short term top that forms Monday or Tuesday out there. This doesn't typically do more than four days in a row of consecutive moves higher. So I would think you're looking at some kind of short term bottom that would form nothing that I see today at least on the intraday charts or anything. But from a daily perspective the stock chart is bullish and price should continue to move higher. On a weekly basis you basically have a consolidation between 431 and 592. Those are its profile levels and on a monthly basis you've got resistance at about 614. So just from a short term standpoint it looks like it does want to move higher out there again I would say because this is day number two of consecutive moves higher you could get maybe two more days but you should see some type of short term top that forms by mid week next week out there. So I hope that helps you out with regard to AMC and thank you so much for the request. The next request out there was from John C. and John wants to take a look at Lightsweed Crew which right now is testing its TD9 count top. I know that because I've been paying attention to it. Let's go take a look at what the Lightsweed Crew charts tell us. So we should first take a look at the daily timeframe. So let's pull that open. On a daily basis, what Lightsweed Crew did is a few days ago it formed a TD9 count top that was on August the second two days ago. It was the bar following bar number nine. Now they happen to be an evening star three rubber evening star bearish and golfing candle bear sash and candle but it was a TD9 count top and so resistance is resistance. That's the high but high is under attack right now that's 82-43 or at 82-53. A close above 82-43 today John says that Lightsweed Crew continues to move higher. Move higher to where now. That's a great question. You also Lightsweed Crew is taking out TD9 count breakdown resistance levels. So again I don't know what it's going to look like at day's end. If you were asking me, hey Stevie, what's this look like on a 30-minute timeframe chart or a short-term timeframe chart I would answer the question by saying, well let's go see. On a 30-minute timeframe chart with regard to Lightsweed Crew we're looking at the September. I don't see any kind of a topping signal. In fact just the opposite. This did have an arrangement of indicator signal but that is now being surpassed. So there's no topping pattern at least for the 30-minute timeframe and that's what you asked me. Oh I guess that's what I asked myself. Do I see any other kind of topping patterns out here? The only one that I see is the one on the daily which we just took a look at and on the 240. So on a 4-hour timeframe chart and the current bar that we have out here. So I'd say 4-hour chart is what you'd also be watching. This bar here closes at 2pm. So 2pm is when you would get your TD9 count top. That pattern will not complete until the end of the session out there. So I would say more likely than that you might get a short-term, a 4-hour TD9 count top but looks to me like this one's to rally further and maybe it rallies into the close but you're up at that resistance level watch the 82-43 area if price closes above that then it's back off to the races. Again races to where? Well, I just simply have to come back to the monthly set of charts out here and say the monthly set of charts say that your next resistance points because the bare structure profile, John, is between 85-59 and 89-23. I would think that would be the next resistance level. Price takes that out then lights we could just go into the moon. Where's the moon at? Well, the moon would be look at this consolidation pattern that it's been trading in that it's trying to take out. Now we could potentially adjust this but at this stage here when I say the moon I just really mean back to its highs right back to the all-time high not the all-time high back to the high out here from June of 2022 out there and that's in the range of 96-50. So that could be the message. We won't want to say that's the message just yet because we know of the resistance battles up at 85-59 to 89-23. So John C I hope that that helped answer your question with regard to what lights we crude is doing. Dave L or Dave I want to take look at ticker symbol D. I believe that is John Deere. So let's try to figure out where Stevie put that. There we go. Perfect. So now I got to get over to the right. Oh, I'm on the way. Okay, I'm on the way. It's okay. Good. So let me. So with the question was where's the bottom that's an easy to answer. It's not here. If we take a look at John Deere today is going to become bar number seven of a TD it's moving higher and is below support. It's below support on the daily. It's below support or profile support on the weekly is below profile support in the monthly. So that's not necessarily good. It does have a bottom and maybe that's what it's targeting. It was wave number seven that identified the bottom back here on June the 1st. Now that swing point has volume of 4.2 million shares. You've done about 1.7 million already on 734. You know you're pulling back in it hasn't touched that level in order to touch that level has to get down to 49 76. So far the hot low has been 50 01. So it looks like it's gunning for that swing point but ideally what this would do is this will form a TD nine count bottom as it moves in that swing point. Ideally it moves in there with lighter volume and you'd get a TD nine count bottom that could take place between Monday and Wednesday of next week out there. John Deere is at a potential area of support on a weekly basis which is that oscillator and change line that is currently printed at 49 94. We have a TD nine count bottom on the monthly and that swing point I have no reason for us to look at that only a few days in the month so I'm not going to do that but that's another real key area. Now if price closing below that that being and I give you that price point that's 48 48 that John Deere has got something wrong and is headed lower much lower see if I pull this up and figure out where that could be we even need to talk about it. The next lower price or the next lower target for John Deere would be 42 91. So we're not there just yet what I would again do on the daily time frame out here and be looking at this next week you're saying where's the bottom the market needs to reveal that to us and the question is will it produce that TD nine count bottom will it test that swing point on lighter volume and reject it. Those are the things that we need to be paying attention to today so I hope that helped you out with regard to John Deere G-Motion wants to take a look at Newmont Mining NEM is a ticker symbol out there Newmont Mining is not likely to get moving to the upside here until gold breaks through that resistance level remember it took a look at gold has been great it held that support area but it also ran right into resistance so we're kind of in that know where's land. Now in the case of Newmont Mining Newmont Mining has an A to B equal CD pattern to the downside the pattern kind of looks like this I'll draw on the A to B point I'll just simply try to carry that line over to the C point out here and that would look like this and so we're already at the one to one or very close to the one to one yesterday. What you're looking for here as far as a bottom G motion is a bullish reversal candle. You could also get a TD nine count bottom that forms next week but in order for that to take place you're going to at least need to see a spike below yesterday's low yesterday's low was 40-20 out there. So you've got two different bottoms that could be forming out here inside of Newmont Mining one is the D point pattern that requires a bullish reversal candle the other could be a TD nine count pattern that's going to require a spike or move below the low from yesterday. The weekly time frame chart you're below profile and change line you're trading into a swing point that had volume here on June the second of 49 million shares this week so far Newmont Mining you're back with 29 so you're at least pulling back with 32 I'm sorry 32 million versus and you still point back with lighter volume that's a good thing you don't like the fact that you're below the monthly profile most certainly but you are so back to the daily G motion bullish reversal candle would do the job or TD nine count bottom Steve Rhodes with TFN we come back from this break we're going to take a look at the ES mini we're going to bisect and dissect and then we look at FCG if we can or CODA inside the target maybe we'll do that first then we'll end the show with the ES if you're looking for potential trading setups in the stock market then rocket equities and options report is a newsletter you should try Tommy O'Brien 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 TFN dot com TFN trading 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 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 signing up tfnn.com educating investors everything in the universe is governed by the Fibonacci sequence this mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market to stay on top of stock patterns you can take advantage of sign up for the Fibonacci 24 7 newsletter at tfnn.com when you subscribe you'll get a weekly report from veteran day trader Larry Pesavento on stocks you need to pay attention to and you can trust Larry's analysis after all he's got 45 years experience as a day trader Larry will also provide daily charts videos and data on the key markets that he's tracking expect notifications from Larry on market movement 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 trading up subscribe to the Fibonacci 24 7 newsletter today tfnn.com educating investors tfnn has launched the tiger's den hosted at discord tfnn has been educating traders for more than 20 years with live programming hosted by a variety of professional traders during market hours the tiger's den available to all tigers and tigers for just $1 for the year there's no cash or 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 welcome back folks let's take a look at fcg this is for code inside the tiger's den we've got some confusing charts out here I say confusing right now you've got the fcg that if it closes today above the price point looks like it will above the high of 25 a 78 on a daily time you're going to gate a td9 count top out there that's going to suggest that this wants to continue to move higher so that's what I see there's an a to b equal cd pattern I've got that shown here on the weekly chart so it's the same one if you did generate a bearish reversal candle that would generate a sell the d-point that's what I'd be looking for next week because on a weekly basis you're going to complete a td9 count top today now your above profile is making td9 move higher whatever this week's high you need to note that because if price begins trading and closing above that next week then price wants to make a run for the 28 area and 28 is the top of the weekly profile or monthly profile so hope that helps you out to end the show we're going to take a look at the es many this is for z inside the tiger's den as we take a look at the yes many charts out here what do we see what do we see we're looking for any kind of intraday topping signals I've got none on the intraday basis the next intraday resistance level is the top of the five hour time frame profile that's up at the 40 45 52 85 I'm going to just look over and see where is the spot fix index trading it is right now below that 50 day 1476 is the 50 day in price at 1469 price should continue to rally the ES should at least get to 45 52 if it close above 45 52 odds favor we rally even further out here remember the yes many ran in and tested its bullish structured daily profile support yesterday that was on the white background screens let me see if I can switch over here real or the black background screens let me switch over real quickly so you'll be able to see that so we have this here let's get to the daily equity future contracts upper left hand side you see how price handle that support level odds favor your price closes above the center of its bullish structured profile 45 24 and you get the spot politics below its 50 day exponents moving average the s media signaling wants to make a move to 40 609 folks have a fantastic weekend thanks much for being here and I will see you on marvelous Monday be safe out there