 The following is a presentation of TFNN The Traders Edge with Steve Rhodes All now 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 April 11th I believe it is today the April 11th edition of today's Traders Edge show. I'm your host Stevie Perseverance Rhodes Who absolutely knows that each of us should always be? Pioneers of our future versus prisoners of our past. Hope everyone out there's having a great day Hey, 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 make that one little two-by-four shift It means we can find the gift in every set of circumstance that life is gonna toss at us Now today you and I we're gonna go check on the circumstance of these markets We'll go figure out what those bulls and bears what those buyers and sellers are communicating to you and I At just past 11 o'clock in the morning. I want you to know I'm absolutely grateful for your presence here but more important More important than that is I'm here during this next 53 minutes to serve you So feel free to pick up that phone. You can dial in at 877-927-6648 Now if you've got a question want me to review something and you can't call in you can always send me an email You send that off to Steve at tfnn.com inside the subject dating Please put radio show question. Of course if you're inside our Tiger's Den Well then any in every ping will do so let's go ahead and get this show started on terrific Thursday Of course, this is Tiger by an answer news network. I'm Steve Rhodes. Welcome to the show We got a mixed bag out there. The mix goes like this dows down to 3 240 the SP's off 11 The NASDAQ's up 54 the semis are up 32 the trannies are up 25 the Russell's down 5 Golds up 9 silvers down 14 cents like recruit off 93 pennies natural gas is off 9 cents the 30-year treasurer for not 1508 our leader in the clubhouse to the upside broad come 33 bucks to an half percent super micro 32 bucks rain after sent Alpine immune science is 37 bucks 17 percent and video 17 bucks to the upside and genics therapeutics up 17 percent $7 plus move to the downside. It is micro strategy 43 points to and seven tenths percent regenerate 24 bucks to an half percent Granger worldwide off 20 bucks two percent globe life down 17 That's a 16 percent move in bio rad laboratories. It's off 13 bucks as well a little over 4 percent to the downsides We got movers and we've got shakers. Let's begin our day by taking a look at that u.s. Well, hold on a minute We might have a bit of a pause. We're not gonna start there We're gonna start with John in Philly John. Thanks for calling. Thanks for holding. How are you today? Do you want my I'm doing very well, and thanks for taking the call my pleasure as always You've only asked very specifically about the NASDAQ 100 and it's under to the end of derivative futures Okay, I remember listening to you yesterday, and I think you were highlighting of the daily chart where you saw the potential for a TD 9-con patterns setting up That sparked my interest. I've been looking at things and have this very specific question when you look at the combination of the pattern your tools and The seasonals that you've displayed, you know repeatedly in past time Do you see any potential for a rally coming out of this sideways pattern that's been? Since March 1st, that was a Friday start of the month So sure so to answer that question what I'm actually going to do is I'm gonna flip back to a daily time frame chart for All four equity future contracts. We can come back and take look at any other detail if you'd like but to answer that question Which my question the answer question is going to be yes now. Let me explain why that's a possibility If we take a look at the NQ that's the I'm just going to simply expand out the chart We're all looking at the exact same thing. So this did go ahead and complete a TD 9 count bottom pattern It did that on April the 9th and yesterday. We had a test of that low Price held rejected that bottom and close right back above the top of its profile So what we know was the TD 9 count bottom has been a solid bottom because it was tested yesterday We also know that that oscillator and change line is a solid level of resistance Still seeing sorry about that. Give me a moment here. Sorry about that. Also John to you Forgot to change screens Here we go. So now we go to start back over so we take a look at the TD 9 count bottom You can see it on my screen that green arrow shows us when that nine count there formed out there So that confirmed the bottom it was tested yesterday. We can see price closed back above its profile level at 18 163 We can also see yesterday's that price found resistance at the oscillator and change line Which is acted as resistance ever since march the 25th out there So in essence, I would say first John this has set up a trading range and the trading range would be between The TD 9 count bottom low and that's down at the 18 0 51 level and the oscillator and change line today That's printed to 18 424 But that's with regard to the NQ the reason why I said there's a possibility that we could see a bottom forming here Is let's take a look at the week industry the week industry has been the dow equity future contract What do we see today? We see bar number eight that is forming in order for this pattern to complete tomorrow to confirm a TD 9 count bottom All price needs to do is close below the price point of 39 2 19 or 38 5 25 I have no idea what's going to unfold between now and then But it seems like a pretty good The odds are favorable that the dow equity future contract will also form a TD 9 count bottom pattern The bottom being between today and or monday, uh, but uh, you know today could be that day So two of the four equity future contracts have bottom patterns When I put that together john with the russell 2000 Well, we can see that it's doing it's been pulling back and testing its breakout level of support 20 34 As long as price doesn't close below that that can be a bottom out there and that leaves us with the es mini And there's where I'm kind of stumped Because if you're asking me, do I see a bottom pattern on the es mini? I certainly do not for its daily timeframe So before I would change screens or anything like that What questions does that pose for you and then I would throw out to you Do you see any kind of a bottom signal potentially in the s&p or the es mini or the spy or any of the any of the instruments Steve, uh, as you know, I have uh, Given the concentration In american business amongst the large the large and larger and dominating everything else um You know, I have uh long, uh shared my tale of woe In that I have not had the opportunity to have a new york stock exchange top us The futures contract sure because the s&p 500 is in effect The naztac 100 plus the nyse us 100 those 200 names market cap wise dominate everything and um, uh, so as i'm trading The s&p and its futures the naztac and its futures. I'm always looking at how The naztac 100 and the nyse 100 are different Uh, if they are um, so what i'm observing Is there's this dramatic difference? um Interestingly enough year to dates naztac 100 and as nyse 100 and s&p 500 Year to date are all up Yeah, yes, yes, yes No, no, go ahead. Go ahead. You got 15 seconds Hey, john, I'm going to finish that thought when we come back Perfect. Okay. That's not what's going to be option to be out there We'll be back with uh, mr. Z inside the tiger's den otherwise known to folks as john from billy We'll be 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 tomyo bryan 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 Many trading newsletters attempt to focus on a narrow set of equities or commodities While this works for some it oftentimes misses many opportunities that possess huge gain potential But how is an independent trader supposed to scan the entire market looking for these hidden opportunities? One simple answer the opening call newsletter Basil Chapman developer of the Chapman wave trading methodology has been trading the markets for longer than most trading influencers have been alive And over that time he has honed his methodology in order to accurately call movements in a wide range of equities From semiconductors to uranium to key indices and so much more Basil is old school taking the time to educate the trader while also giving his insights into key indices Selective stocks and more opening call subscribers also receive access to dozens of educational live streams That can be accessed at any time for your edification All first time subscribers receive a 30-day money back guarantee So ignore the pop trading influencers and start learning time-tested technical analysis Steve Rhodes started his trading career as a student almost 20 years ago And the student has now become the master Steve won the prestigious timer of the year award in 2018 And barely missed that mark again in 2019 finishing at number two for the year an amazing accomplishment Steve Rhodes is committed to sharing his techniques and knowledge with anyone who wants to learn And he shares his vast amount of trading knowledge every day in his mastering probability newsletter Steve's award-winning newsletter Mastering probability is delivered every trading day with updates throughout the afternoon sign up for Steve's market newsletter Mastering probability and you'll receive access to seven of Steve's educational webinars Absolutely free at tfnn all our newsletters come with a 30-day money back guarantee So you have absolutely nothing to worry about visit tfnn.com and try mastering probability 30 days risk-free today tfnn educating investors 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 one dollar for the year 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 Toll free at 1-877-927-6648 internationally at 727-873-7618 Welcome back folks around the line with john and philly We're talking about the indices out there and due to time His comments were cut off during that last segment. So john go ahead and pick up from from where he left off if you would Steve try In my best attempt to succinctly answer the question you posed As I look at the s and p 500 index and the new york stock exchange us 100 I don't see anything that jumps out at me. I could see further pullback slash decline. I could Equally see bottom form and and then turn up. So Since it's cloudy As far as that's concerned. I'll withhold any any real Let me ask you a question. What is attracting me. However, is looking at that nasdaq 100. Yes It has gone sideways now for five almost six weeks Yeah, every time we come down to lows including yesterday's low Will we run out of selling steam? and It occurs to me don't ignore the td9 count Pattern that you have been talking about and if memory serves Steve in thinking about The seasonal tendencies I might be mistaken, but I'm not looking at a chart But I'm thinking Uh The seasonal tendency is to rally near tax time into may And looking at the sideways pattern. I I'm asking myself this question Is this trading range? And it's just been a tight range Trendless up and down We're near the bottom of that range Perhaps all these things are pointing To us The possibility that we bought them and then rally And I just might parenthetically Lastly add you mentioned three names that were up strongly today Nvidia of vago and super micro And what I will observe That Nvidia chart if you go back and look at the past two months Tuesday Yeah, it was Tuesday Tuesday Uh Possibly completed a near exact a b equals cd pullback pattern. So the rally in Nvidia today Uh, all makes sense coming out of that pattern And hence all these uh the questions that I'm Asking myself about the potential For the uh the nasdaq 100 overall and of course the nvidia is a big component within Uh beginning a rally phase So that's my answer your question I might ask you if you can show the seasonals to the extent that you've got your hands on Sure, sure. I I will I I've got the nvidia charts up here And so you you mentioned, you know, we should at least respect the td9 count pattern and you know two days ago When nvidia was pushing to the downside everybody thought it was curtains Um, you know, I saw a couple of different posts out there and I just said hold hold on What what that that day was was a td9 count Bottoming pattern out there that certainly completed yesterday and now we're back inside its profile That formed a few days ago. So the next battle for nvidia is at 895 and then above that 917 and above that 932 John I did I want to ask you a question. So you mentioned, uh, the importance of paying attention To the s and p top 100 and the uh and the new york stock exchange at top 100 stocks out there And I've never traded this. I didn't even know that it existed. You I'm sure you did Tigger symbol oef, which is an i shares etf doesn't have a ton of volume in it on a daily basis So not a vehicle. I recommend necessarily trading But it might provide that information that you're asking about So I happened to go ahead and put the both the oef On my screen. I can't put the new york stock exchange top 100 Up there right now. I just have to change day defeats. I've got too many things that are open But I do have the cues up here so we can kind of take a look at the two of those side by side So if I was going to if you're asking me, what is the top 100 s and p chart? And I believe that I haven't you know, I investigated for like 60 seconds So what I initially read was it was the top 100 largest us companies out there And if we take a look at it it does have that same rogment to mindicator topping pattern But we can see here that price. Whereas the es mini closed below profile yesterday and it's trading below it or was 50 10 minutes ago when I looked at it Here we haven't even gotten down to support Which is that the 241 to 242 level for those top 100 Stock charts out there. So have you have you traded this etf or do you pay attention? Have you paid attention to is it what I think that it is? It is what you think it is. I do know it. I do not trade it because of its tenderness as you point out But uh, yeah, so I uh, that is one of the uh The indices that I do monitor. So, um, I'll ask you nothing bad out Yeah, I'd like to ask you another question too. So if you were if you had in your perfect world To look at a stock chart that would would it would the stock chart that you would want to see combined the nyse top 100 And the oef they combined those two would that have any relevance? Do you think or what would it be? If you had I although you can't trade what you were looking for But what if we were able to combine the two to create some type of? Combined instrument to see what its signals would be. What would that be for you? Would it would it be potentially this oef combined? Steve I'm going to beg off on answering that question because Nobody in the position to actually get that stuff done would construct that for me. So That that point is essentially moot Okay, all right. All right. All right. Well hey john, thanks for calling as always always good to speak to you And we'll look forward to your next call One last thing. I thank you for your help if by the end of the show if possible Please display Your seasonal study the next couple of months We're gonna do that right now. Yeah, we'll do that right now. I'll do that right now for you So I'll put that up and uh display that you bet you have a great day So we do have the ndx 100 chart up on our screen here Now i'm gonna get the d-trend signal off here so you can see what the you know So we're basically the the NASDAQ 100 Basically the entire year is a favorable seasonal cycle if you take a look at the last 30 years worth of data The only month that's a poor month performer inside the ndx 100 is september here And again, this is based on the 38 years worth of data that we have out there So we're we're nearing a point in time typically But put the d-trend tool on here where we typically form a bottom this shows right around april 14th We don't use these right to the day We've got that td9 account bottom in the index and the ndx in the nq chart not in the ndx 100 chart out there But inside the nq chart and this does suggest what john was talking about a move into the early may time frame That'd be may 5th and then a retracement down into the later part of may 3rd week 3rd 4th week of may And then a rally up into early june then a pullback or final rally up into july before we start to see A bit of a pullback out here. So that's a seasonal pattern For the ndx 100 as long as i'm here if we put up the seasonal pattern for the s and p 500 So we can see that and this is over that's over a 38 year period Let's just put it on 96 you can see we are in a favorable seasonal cycle that typically Doesn't top out until the first the end of the first week or beginning of the second week inside of may out there And if you take a look at this You know, this can also be an issue here john that we're dealing with if you look at this april Is the third best performance month for the s and p 500 over a 96 year period So the tide if you will might be helping keep things somewhat sideways. 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They are not designed to track the underlying index or security for more than a day Before investing carefully consider a fund's investment objective risk charges and expenses contained in the prospectus available at direction dot com Read carefully distributor four side fund services llc Welcome back folks. Let's get to some of our requests out here the first one coming in from j in uh bokeh I want to take a look at an entry point potentially for ticker symbol IoT IoT is sam sarah ink out there Which is going to go ahead and confirm a td9 account bottom pattern today. So that says that io2 sam sarah Jay Has either formed a td9 account bottom yesterday because yesterday so far is low or will buy tomorrow So you're looking for a low entry point. You've got the pattern right now To to consider taking that trade we'll go take we'll get a 30 minute chart or a short-term chart See if there's any signal Yesterday or today being that bottom if it's not then what you do is you'd probably wait till tomorrow To see how this plays back. So on a daily basis This is giving you that possibility to go ahead and take an entry on a weekly time frame Which has a rogement dominicator top may be targeting a 30 71 level out there. It may not get down there That's the area where it broke out from I don't have any kind of a topping pattern that I visually see On the monthly time frame chart. So now let's move over To an intraday chart. Let's take a look at the 30 minute time frame So I see this gap down yesterday So, uh, what do we have here? We have a td9 account on a 30 minute that's been negated So that says no now we may get down and just test yesterday's low I would expect that we would on a 30 minute basis that had volume of 390 000 shares So if you get a test and rejection of 3176 that could be a bottoming signal You'd like to see something more than that. For example, a close above 33 12 would go a long way That's a td9 account breakdown area on the 30 minutes. So with that gap to the downside I'm not expecting we would see much. Well, let's just take a quick peek here on a 15 minute chart See what we've got. I don't have anything there either And uh, so on a 65, I'm sure we're going to see the same thing nothing there So I'd be patient and I'd wait it looks more like perhaps tomorrow might be that day to reconsider taking that long position inside of iot So j hope that helped you out and thanks much for taking the time to write in g-man Inside the tiger's den. He'd like to take a look at xom. So let's take a look at xon mobile out there It has been on a tear out here and if we take a look at the weekly time frame chart We're going to see it's going to go ahead and complete a td9 count top this week Now the last time that I've opened up the weekly chart that xon mobile made a significant top Well, guess what it was it was a td9 count top It was followed up by a roadsmen to mindicator top But it was back on september 29th and that led to a move lower now We're trading into that swing point area that swing point had volume of 82 million shares We came into it last week with 90 million shares now. We have tested that high the high beam 120 70 and we're just below it right now So the weekly is saying prepare for a potential decline to the 111 29 ish area the daily time frame chart I see a td9 combo a td sequential, but I don't see a confirmation of that top I see a td9 count pattern that was negated So I don't have any kind of a topping pattern Although today is a key reversal bar for sure. Maybe a bearish engulfing as well Is there an a to b equal cd? Is there a sell the d point pattern? And you know, there is It's just a gigantic c to d expansion out there. Nonetheless, you have to respect it What what else would the the additional information? What else the additional information that I can provide to you g man is that there's also a new profile that is forming And I would say not until price closes below the bottom of that profile It's a bullish structure zone out there 118 40 to 1 1947 if you were long Well, you got to do what you got to do but until you get a close below two clothes below 118 40 Um, you've got the top But it may be more of a sideways is type move out there and what I would be paying attention to Just simply because of the directional correlation is what's going on inside of light street crude Which has a td9 count top for its daily time frame, but it has been consolidated with inside its daily profile So I'd like to see two things for the energy sector x on mobile Which makes up a majority of the energy sector to tell us that okay It's ready to do something other than just Consolidate with inside profiles before it starts its next leg up So you'd like to see a close blow 118 40 on xom and lights recruit a close blow 80 409 I think if you have both of those conditions Then we're likely to take a look at that weekly td9 count top that takes us back towards that 111 27 area So hope that made sense to you if I confused you my apology I try not to but sometimes I confuse the heck out of myself The next request out here is a take a look at into it. This is for david h I didn't write down the question because I was doing multiple things David says hey, steve. I've got the 630 ports expiring april 26 One of your perspective on how low and to it should fall over the next couple of weeks out there Well, right now you're at support. We're looking at a daily time frame shoot You're at support on a weekly time frame now That's a beautiful thing david in panama city because you need to see price close below those levels This week come tomorrow to suggest that we're headed lower So the bottom of the profile it's a bullet structure daily profile is down at 625 58 Yes, uh, we've tested that so far so far. It's rejected it. The bottom of the weekly profile is at 624 37 So let's use that lower figure and really in the case of the e s of the e as many into it into into it Um Was it int you yeah, was int okay? Um For some reason I was thinking intel Not that that matters so and the the other area that I would use out here Though a key level of support that needs to be broken was really established by that bear sash candle About a week ago or so if you see a close below that low that is 620 33 So we got 620 33 And really on the weekly you got 624 37 if you see a close below that Come 620 33 if you see a close below that come tomorrow Then I would say that into it is likely to head lower out there Where would that lower price be and that was really your question I would say the lower price would then be because you've got a monthly td9 account pattern That confirmed and completed last week would be 601 10 But not until you get breaks of these profiles or certainly that swing point on the daily time frame Where the bulls showed us that they were establishing a uh, at least trying to hold now I see that that was also tested a swing point back here david from the day of uh, november I'm sorry march 15. So it was 3.1 Million shares on that day that was tested and rejected with 1.2 And then again, yes, uh again with 1.6 and then today we're down with 200 boy I don't know that david that this is really going to bust through the series knowing that we've got profile support Knowing that we traded down into a swing point out here from back on march 15th with much lighter volume Just I'd use that information. Is there anything else that I can provide in when? That chart's gone. But let me put up this 30 minute chart here. If you give me a moment. Let's do this here Let's change this and load a different template so that we're looking at the 30 minute and So the 30 minute chart not that I've got I take that back I've got to buy the d-point pattern that formed out here in the last half hour with that bull sash candle so If intuit is going to rally It certainly needs to close above the 6 30 14 area that would be the top of the 30 minute Profile so I'd watch that to the upside if it closes above that You know, maybe you take whatever bred off the table right now, but Yeah, I know you've got some time on this I'm not trying to talk you out of that position Just trying to let you know what I see on the charts and right now prices struggle to bust through these lows out there So hope that helps you out when come back to this break We're going to take a look at amazon for duncan steve c rh for elo And anything else that you folks would like off to go through my emails Look through the tiger's den see if there are any requests out there Just simply so we can get to those we'll be right back If you spend any time online researching trading techniques on how to begin your trading journey You've no doubt come across many folks who push forex trading as a way to make big money quickly Unfortunately, there are equally as many stories of these so-called forex professionals Just looking to make a quick buck off aspiring traders without actually teaching the ins and outs of the forex market This is what sets teddy kek stacks the tiger forex report off the riffraff Every monday former chicago mercantile exchange member and author teddy kek stat releases his tiger forex report newsletter Where he dives into the complex world of forex and takes time to actually teach you his methods That have made him so successful in the fast-paced and rewarding world of forex trading Furthermore all subscribers receive access to archive live streams of teddies where he provides university level education to help you in forex trading All first time subscribers receive a 30 day money back guarantee. 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You'll find fibonacci 24 7 right under the newsletters tab For traders who crave risk directions daily leveraged and inverse etfs provide opportunities to magnify Short-term perspectives with up to three times a daily leverage Utilize bull and bear funds from both sides of the trade and trade through rapidly changing markets These are highly leveraged etfs with daily resetting designed for short-term trading not long-term investing Whether you're a bull or a bear you choose the direction for up-to-date pricing and performance go to direction dot com Investing in the funds involves significant risk and should only be utilized by investors who understand the impact of leverage and actively monitor Their portfolio They are not designed to track the underlying index or security for more than a day before investing carefully consider a fund's investment objective Risk charges and expenses contained in the prospectus available at direction dot com Read carefully 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 Just took a sprig of water ice cube came out boom right into my teeth. Sorry about that didn't mean to crunch that into your ears I see that oj It's passed away. No no comment really on on his life, but I did mean to the first time I met him Many years ago. I used to play out at riviera country club was the first time that I had played there And uh, lots of lots of you know stars that are out there now, I didn't know that at the time I mean this is back in the 80s When I played out there, but I remember going down sitting in the club in the locker room Put down on my show on my shoes There's kind of a fairly large cushiony area so people gets on both sides And a guy behind me tapped me on the shoulder and said can I borrow your shoehorn? And I turned around and it was oj out there Well, I used to see out there all the time was uh, peter falk from uh, you know, colombo He played most the rounds he played was just by himself out there. I don't know why But in any event out there, so that was my only oj story out there Um, let's see here. Give me a second to think we Might have a caller. Let me see if I can get back to this here Did he have an axe? No, he didn't have an axe. All right. Let's get back to the questions out here amazon Duncan c wants to take a look at amazon and uh, so we take a look at it from a daily standpoint You're trading above both its green oscillator and change line and the top of its daily profile So what we would call amazon here is in a full out breakout mode I don't have a topping pattern on the daily time frame. So it's in a super uber Bullish mode out there. We take a look at the weekly time frame. We have that same signal out here The signal is it negated a td9 count top It did that last week. We're above profile above oscillator and change line amazon wants to head higher And when we look at the monthly time frame chart, there's absolutely no topping pattern out here But price is taken on salt timeline in the case of amazon that gets us back to july of 2021 And the number out there is 188 65 we're at 187 15 right now The volume on that monthly candle is 83 million shares last month. We are pushing into it With a 702 million shares. She's where are we at this month? Only a few days worth the trading, right? It's only 11 300 million shares. We're go already and we're going into 83 million shares Holy schnikeys out there. So, um, duncan Your question was where's amazon headed to? Uh, nothing short of the moon as we see right now unless somehow conditions change, but we don't oh, just no No, don't do that Oh, man All right, I got to kind of hit this back button somehow. I hit a button and started deleting all the requests out there and now I Oh, okay. Sorry about that. So of a stevy a stevy error and I think we're good. Okay. I think I think we're pretty oh So that that's what's going on with regard to amazon. I'm just trying to see here. ELO wanted to okay There we go. So crh is going to be our next symbol out there. I guess I could have gotten to it another way Let's take a look at uh, crh. This is for um, ELO inside the tiger's den. So you've got a rose meant to mitigate her top We're trading below profile. Uh, the next level of support on a daily time frame is $80 and 13 cents We're trading below the oscillator and change on on a weekly time frame a closed blow it right now That's 84 37 which suggests that this has lost its momentum It also is confirming a it looks like it's confirming a rose meant to mitigate her top Let me just make sure of that The high From last week was 86 63 this high is 80. Yeah, so you're going to get a key reversal bar that will confirm a rose meant to Indicate her top now that says at 80 13 level Duncan is a real key level of sport Why because the price breaks that on a weekly time frame we could be heading back to 69 to 65 level On a monthly time frame. There's a potential for a sell the d-point pattern That's forming still too early in the month to know that but right now when I take a look at crh It's giving us a signal that at least 80 13 is in the picture for you. So Duncan. I hope that helps you out Let's take a look at uh, I'm sorry. That was crh. So I hope yellow. I hope that helps you out On dan in new york city wanted to take a look at the ung his question is I believe it was is it forming a td9 cowl bottom It's not if we take a look at the ung the ung Formed a rose meant to mitigate her bottom it confirmed that pattern on april 1st with that gap to the upside and Basically we're trading into that area right now. It's struggling take a look at ung out here Uh, it was unable to take out the bottom of that daily profile which is up at the 1604 level If we look at the weekly time frame, there's no bottom pattern there The monthly time frame is no bottom pattern there in fact on a monthly basis What this really tells you is that you can see how price has been below that osirin change line for over a year out there If price were to close above it, that would tell us Okay, now we've really got something or we potentially have something with 30 98 potentially being a target now What i'll also do out here is uh dan is move over and take a look at the uh natural gas contract Take a look at its intraday. I've got the daily up on here and here the daily generated the bottom signal on march 28th Whereas ung had to wait till april fool's day to do that It was march 28th that generated that bottom signal. So if you're going to trade ung First make sure you know which contract or contracts are inside there of natural gas and then get access to natural gas You don't have to trade the futures contract But that's where you're going to get the clearest and best information from since that's the underlying instrument Now in the case of natural gas the 30 minute time frame It completed a teeny nine count bottom at 11 30 and the price closes below that that being 1.785 and it closes below that certainly in 12 minutes That's going to suggest that there's still lower price to come today. Do i see ung as a trade? Not really it just hasn't proven itself in time periods where it should have so but you've got to do what you've got to do And so that's the information i can provide to you. So hope that helps you out We had a request to also take a look at rivian. That's not rivian. Let's try this for rivian rivn And if we take a look at rivian geez this looks awful So we have we are trading on a we're trading all-time lows, I believe We most certainly are so there's nobody in rivian that is having any fun at its party The question is is rivian going to form some kind of a bottom? Well, let's take a look at that daily time frame chart Let's open this up and see what we've got here And the answer to there is boy it did form a bottom a few days ago Ran right into resistance the bottom of that profile 1072 I don't have any kind of bottoming signal or anything on a daily time frame for rivian. What do we have on a weekly chart out here? Not really much. I wish I could be of help to you with regard to rivian But this thing looks like it wants to just simply head lower That's at least the information that we see as of today So best of luck to you if you are trading rivian rivn You did not peter discuss that missed the discussion of the euro Well, I was waiting for you to to arrive and now that you're here Let's go take a look at the euro out there and when we take a look at the euro This thing is looking like it is failing potentially failing miserably now What we really want to watch today and it's really key is going to be the low from february 14th from valentine's day And if price closes below that low 1.0695 we're at 1.0. That's been tested so far And if we get it closed below 1.0695 The u.s. Dollar will absolutely be a rocket ship. Why will it be a rocket ship? We'll take a look at this large a to b equal cd to the downside pattern out there Let's take a look at that that gets us back to the td9 account for back in uh, october Of uh 2023 out there and that gets us down in towards a 105 level And if that is in fact what happens out here with regard to the euro We're going to have because this is 65 or 50 58 of the weighting in there That's going to really power the u.s. Dollar index higher So you got to watch that swing point and that low is 1.0695 peter We closed below that u.s. Dollar index is headed higher to take a look at the end The end wants to weaken for sure Here's its a to b equal cd pattern on a daily basis and there's no topping signal whatsoever for it And if we tend or is there on the monthly time frame and right now the pound is saying it wants to get pounded It's got an a to b equal cd that takes us down to 123 that dollar index and It could be on fire depending on what the euro does. We'll be right back 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 us futures market and the shanghai gold exchange The gold report Tom o'brien publishes his weekly gold report every monday morning for subscribers Consisting of coverage of the 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 o'brien's gold report newsletter now at tfnn.com In the world of trading only a few names stand out like larry pesevento a pros pro with over 50 years of experience larry has seen it all a former chicago mercantile exchange member larry has authored 10 books and trained Over 1 000 traders with his unmatched expertise Introducing fibonacci 24 7 larry pesevento's daily trading service that turns the complexity of markets into opportunities Published every sunday receive a comprehensive report packed with detailed commentary charts and videos that illuminate the patterns shaping the markets With updates throughout the week exclusively for subscribers Whether through charts or videos larry's analysis is your roadmap to navigating the markets You can sign up now at tfnn.com for just 97 dollars and with all tfnn newsletters backed by a 30 day money back guarantee You have nothing to risk for all the details visit tfnn.com. 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That's a great question So on a daily timeframe we can see that today is going to become bar number eight and that suggests and we're as it's pulling back It's still above its breakout level at 70 45 out there Those are the best conditions when you can see a bottom pattern form below price gets to the breakout level I don't know if we will do that or not because it's the next two trading sessions That will complete that pattern or likely complete that pattern tomorrow all price needs to do is close below The close of bar number five and that's at 77 34 So the odds favor that that's a likely thing to happen out there So you could be getting a bottom pattern between today and or Monday out there on a 65 minute time frame chart I don't see that bottom as we speak right now That has not confirmed anything if we switch over real quickly to a 30 minute chart Out here do we see a bottom pattern? We do not as we speak just yet So I'd pay attention to the shorter term time frame charts out there s and p Because you are a ap is getting close to a potential bottom pattern So, um, let's do this here We got to just talking about that us dollar index because we were talking about the euro and the currency pairs of three primary currency pairs That make up the us dollar index and so I don't want people to think That just because us dollar index is getting ready to break out that it means curtains for gold And or silver but this chart here the top portion of this us dollar index That this shows us those uh vertical lines out there. Those are the beginning of the year So I've taken this apart just to see how often do we get the us dollar index moving higher the s and p 500 moving higher And gold moving higher. You're not seeing that chart Oh, son of a gun here. We got we got at least we got uh 40 seconds or so to take a look at it So I I clicked on the chart and put the wrong thing up there. So now you can see it out here So now when we take a look at this, uh, you can see and this is the year You'll get the pattern on the right. We're higher in the dollar We're higher in the s and p and we are higher in gold You may remember last year I talked about these conditions that we are likely going to see these conditions I didn't know when But that when appears to be now now the last time that we had that same condition out here Were for the entire year, uh, that the market closed hard the that takes us back into the 2019 level out there So 2019 we have the us dollar index finished higher for the year the s and p finished higher for the year And gold do the same folks stay tuned for all the great programming out there I'll be back with you tomorrow on fabulous and fantastic friday. But first you have a terrific thursday. Take care. Be safe out there