 The following is a presentation of TFNN Trade what you see With Larry as a vento Call now toll free at 1-877-927-6648 or internationally at 727-873-7618 Now Larry Pezzavento Okay looking good Billy Ray feeling good Lewis lots of things to do and we have Rich Anderson is going to be our guest at 930 tomorrow we have Tim Boston on Friday special show all day or all day Da-da it'll be the one-hour show 55 minutes of Bill meridian of Cycles Research of Vienna, Austria. I posted the chart for the German Dax as you can see here We're in a possible topping formation here Looks pretty clear at least from the looking at the charts if we look here at the footsie Which is the next one you can see that it is already made the top and is already backed off About 78 pips so that's lining up pretty good now I've got a question from two people and so I'm going to answer that question first to the best of My ability and if I don't do it right I will just lie to you hold on just a minute. Here's what we have here This is the British pound if you remember we had a lot of support down there at that 124 and change the 124 40 We went below it But look what's happened now between July the 1st and where we are now on July the 24th the key point to look at is July the 10th You'll see that was that low at 124 60 we rallied up We came down and we made a low at 123 80 Okay, then we had that big upside day and then the backward day now the 64 question that was asked by two of our listeners Is that a hidden shoulders pattern? Well, if you take that from the day 8 or the 9th of july Down to the 17th. Okay, that's 12 days. Okay, and if you take from the The 17th Let's see the 17th to the 12th that would take you out to the 29th that would be here on Next to be on monday. Okay, so the problem. Here's the problem with the head and shoulders pattern defined by John Murphy and his book technical analysis of the commodity markets The the problem is the right shoulder and it's it's really close It really is but the right shoulder should be higher than the left shoulder the left shoulder was at 124 65 The right shoulder has been 124 45 now that could still be a head and shoulders pattern It certainly could especially if we get above 126, I would have to say that that was it But it's not perfect in perfect head and shoulders the right shoulder has got to be equal Or higher than the left shoulder and an up move you see that you see the difference there That that's a small difference. But you know when you're When you're looking at these you have to pay close attention to it on the long-term chart Doesn't mean a whole lot but on this daily chart It certainly does and folks when you remember when you're trading the british pound on a 15 minute chart That is totally different than trading the british pound on a daily chart That timeframe is you know, it makes the world a difference the charts are different So you have to remember that short-term trading is different than long-term trading There is uh, you know, and I I'm not the type of person that likes to stare at the monitor all day long So Uh, if you you know, I try to do it early in the morning, of course But you know, I look for the setups that I'm trying to find the best and that's really what uh Really what I'm looking at so that's I hope that helps on the definition of the head and shoulders pattern But we got a chance here for a bottom and I'll tell you another thing Just looking at these charts and listening to the news this morning when I first got up A few hours ago checked on Bloomberg what was going on and my gosh, it was universal that the euro is going lower and right now it is going lower But let's look at that euro one more time because I think it's at a real critical level Here's where we were last sunday when I sent the letter out. You can take a look We were trading at 112 21 looking for it to get down to 111 Uh, and we're at 111, uh, what 820 or something like that right now 111 30 So we're very very close and that could be a major double bottom Well, most people that you know do this kind of stuff They don't look at the patterns that we do so there could be a really good bottom down there below that 111 111 30 level so keep a close eye Look what happened the last time that it made the 1.618 and 1.27 expansions at 111 30 We rallied $3,000 up to the 61 percent level at 114 So even though it looks uh, you know like it's getting ready and it believe me folks Below below 110 70 it will go lower because the risk on that would only have to be 30 pips because if it gets below that You know, it's in no man's land and to be looking at something, you know a whole lot less But it's got that potential and the reason why it has that potential is if you look at that abcd pattern That's there and this is a daily chart So it's you know, it's not short term But if you look at the daily chart, we have a nice 382 rally Came up to the 12890 and that measures down to one Right near that 111 again. So that could be very very interesting In fact, what you would be doing is you'd be taking out all all of the stops over the last six months And if it doesn't go anywhere That's the one you want to be looking at if we look at that on the reverse side Which is the us dollar index and we've been very bullish that i.e. bearish the euro We've gotten up to this 127 and change level already See we've completed that abcd on friday and we've been up every day this week down in the euro So here again, we're coming into the same type of move here in the In the us dollar index. Uh, oh, I just saw something here. That could be a head and shoulders pattern boys and girls Holy moly guacamole. Let's double check that. That's worth the price of admission. Let me come up here and Grab this little thing here so we can take a quick look at this dollar index and see if we can see if that is the case Uh, not really but close enough. Let's just get this up here and what i'll do is, uh Okay, oh, you know what I need to do is I am just going to I'm going to delete everything here Just give me a second because it's easier for me Uh to Check this and yeah, there we go. Give me one second and we will uh, I'll have this already This is worth it. I believe and I need you know, this is one of the reasons why doing this show At nine o'clock in the morning is not good for the old cowboy because that's my most critical time of the day And I would like to uh To see if that's going to be the case here here just a minute here where I want to draw the line So we can see where we are Okay, get that line in there to draw it. Let me uh Hold on. I'll make it nice and thick so we can all see it. Alrighty Okay, now we're ready. Let me get this up here so you folks can take a quick look at it Okay, here's that dollar index that we're looking at now that one's with all the numbers gone But you can see the left shoulder back there on march 4th. There's 97 65 I don't know where we are right now This is this is delayed because I don't trade the dollar index. I always trade the euro I the last price I had was 97 42 now if we're at 97 65 That will be a head and shoulders pattern because you've got your left shoulder at 97 65 your right shoulder At 97 65 or lower than that would certainly be Certainly would be setting up for a head and shoulders pattern now I'm not Someone tell me please at the den where we're trading here on this uh little puppy here For the uh, hold on one second here So I can see where the where's the dollar index trading right now I heard tom will brian on the early morning show, but until I saw the chart here. It didn't mean anything That's no, it's 97 60 or 70. Isn't it that what's been the high so far today Come on boys and girls. You got to help the old cowboy. I can't do this alone 97 65 is what i'm looking at at that dollar index Don't see it anywhere. So i'm not going to worry too much about it everybody's asleep over there In the room. So I think I'll go to sleep too. There we go 97 67 russ. You're the main man. 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That's 727 329 83 22 call us today Many of our new listeners have heard about the tiger's den The tiger's den is a lively community where professional traders and investors can meet exchange ideas and information in a comfortable moderated atmosphere Hear all of the tfnn shows plus see all of the charts as they happen live and have access to archives of all of those charts You can test drive the tiger's den absolutely free for 30 days and greatly enrich your knowledge of these markets And how to make your money work for you details on the tiger's den or on the front page of tfnn.com tfnn has launched our brand new website You can still visit us at the same tfnn.com URL But when you do you'll see a new and improved homepage with a much simpler navigation Whether you're watching tiger tv live in high definition or just accessing your newsletter subscriptions We even have new pricing in six months and yearly options Check out the new tfnn.com now and experience all the upgrades tfnn.com educating investors Call now toll-free at 1-877-927-6648 internationally at 727-873-7618 Okay, folks, I've put Thanks, Al. I put the uh Uh dollar index chart up again and if you'll look at that high over on the far left You'll see that was uh when we were right around march the uh first Where it said double top that price was 97 81 and the high today in that dollar index is 97 81 today So we have a matching high that means that the left shoulder and the right shoulder are spot on So, uh, that might mean something, you know these numbers sometimes, you know line up pretty nicely So, you know, we just have to uh have to wait and see now. I heard something from the uh Uh wall street journal today that the blue horseshoe Is watching one market really really closely this morning I'll bring it up here to let you look at it and that is the old plutonium Up here at this 875 level folks keep a close eye on the plutonium platinum at 875 that completes several abcd patterns It makes the larger abcd Excuse me the larger 61 percent retracement spot on which is uh, you know really right where You uh right where you want to be so watch the platinum the probably the safest place Uh to sell the to to get to the short platinum is wait till it backs off about four dollars In other words do it on a sell stop at uh eight 71 and if it gets there, you know, it's already moved down from the high Then you put your stop above the high so you can trade platinum Which is a you know, $40,000 contract for about 200 bucks. So that's the safest way You know to use that one so watch it very closely Very very interesting now silver came up and matched those old highs again I'm not sure whether it took it out or not. We're having a little bit of a rally in gold I think gold will have trouble at 14 30 But if we get gold above 14 30, that'll be a game changer And I would have to reevaluate to see whether that is uh going to continue You know going up but right now it still has a bearish bias In the gold as we as we look at these here Early this morning now the another one that we have on our watch list that deserves our attention And that is the natural gas. I want to bring this up here because it's very important We are looking at this Pattern right here. You can see uh during the april may rally You had a beautiful abcd stopping at the 78 retracement The june july rally the same distance in other words the rally In april to may is equal to the rally in june july It stopped at the 61 retracement and now what we've done is we came down here on monday stopped exactly at the 78 level and then had a little bit of a rally folks If this goes below 222, you don't want it, you know You're just going to have to find a better place to uh to get in the natural gas because this is a risk control situation We don't know the fundamentals and we don't profess that we do but it needs to hold that 222 level The old low was 224 trading at 227 and change right now. So That's one that you want to uh, you know pay relatively close attention to because we do have a bullish bias of that Based on the technical picture, but below 222 you have to Surrender that bullish bias and think it's going to go down a lot lower and remember You know, we've been below two dollars several times in natural gas over the months So that's not years excuse me the last couple years it so it could easily do that longer term It has got great potential, but it's got to hold that 222 folks because you know There's could be news out there from russia or whatever whatever and that would make it You know it could get hurt really badly and you don't want to do that So same thing in platinum if we get platinum above that 882 level That would tell you that there's probably something wrong or the expansion is going to be bigger than what we think And you don't want to uh, you don't want to mess with that. So keep that in mind You know very very closely Now I have to check something here someone's asked a question and I need to find double check something To make sure that I get the right, uh, the right answer if you give me one second here And see where we are. Okay, there we go 876. Okay, give me let me one second here and I'll be able to answer this. I'm doing too many things at once And uh, yes, we did take out the high of silver The old high was 862 we made a high today of 867 we made it a little bit above it We're still right at the 61 percent retracement on that daily folks So we're right in that ballpark. I don't think this is any more than a Than a rally up here both platinum and silver But you don't have to have to wait and see because they're lining up as if they're getting ready to Have a move that could be, uh, Significant to the downside. So we'll see now gold is already broken quite a bit You know, we went from four from 14155 all the way down to 14 We dropped 40 what 40, you know, $44 an ounce and we rallied back a little bit We're 1427 right now. So we'll see if it's going to continue to move down or not, but If we get gold above 1430, I would assume that this Has turned it back up bullish and we'll have to look at that We'll have rich Anderson on to talk to us about the grains the grains are holding up incredibly well folks It's just a matter of time. I think next week is what I'm looking at As we come into august 1st, that's the really key time of growing for the soybean market And if we should get really hot weather across the Midwest, uh, boy, the beans don't do well in hot weather Especially if there's no rain, uh, they can, you know, lose their ability to produce as usually three beans per pod And if we get beans that are, you know, two beans per pod, you're looking at a, uh, you know Reduction of possibly a third in soybeans and that you don't want to have happen if you're if you're, uh Bearish because it could really mean a big move to the upside I've been asked to talk a little bit about a market. We have some really strong People indicators over indicators some strong followers for tfnn over in uh, india particularly in In lumbai and I wanted to bring up the nifty 50 for the, uh For that market just and the only reason i'm showing you this folks is that these markets are all the same I've I've drawn in the dotted lines just to show you the pattern you see we're making a double bottom down here at this 11254 level the expansion that we had up at the top there, which was in late may that was a 1.618 expansion of the move from april to may and you know to prove to prove that do the work yourself folks Draw those lines in and draw the ratios in and see them for yourself and measure the abcd's you can do this You know, this is not rocket science You're not trying to uh, you know put a man on the moon You're just trying to find out what the heck he thinks going to happen in the next uh two or three days in the nifty 50 So that's really what you're looking at. It's all about risk control. It's not about whether being right or wrong You're going to be wrong a lot Like remember what old grandma pez used to tell me when you get into that swamp to kiss the princesses You're going to have to kiss a lot of frogs before you find the right one So keep an eye that's something to need to look at folks You know, we had a big run in the market these last two days But folks that that has been done by about 80 to 100 stocks The rest of the market did not do anywhere near that well If you just look at the new york's just for yourself just go look at the new york stock exchange index I'm going to put this up here And I'm going to let you look at it and you'll see that new york stock exchange index did not even attempt to take out Last week's high not even attempt the same thing with the russell 2000 it even it It is still following the head and shoulders pattern and was a basically up Very very slightly and made a higher high on the previous day by two ticks and it's lower today. So These are It's not nearly as bullish as the market is trying to tell us. I don't think it looks that bearish But it's not as bullish as what you think stay tuned for rich anderson after the break folks 877-927-6640 Larry pesavento has just started his brand new service fibonacci 24 seven And he's already delivering content to his subscribers on a daily basis when the markets opened and even on weekends Each monday you'll receive larry's written report that provides detailed commentary and a summary on the charts and videos That larry sends out and throughout the week when warranted larry will send out via charts or videos or both The key markets that he is watching during the day This will be up to the date active trading information that will help you in your daily trading in larry's first week alone He sent out 25 charts six videos and a full report to his subscribers in just one week If you're a technical trader that uses patterns and retracements to trade then larry's service fibonacci 24 seven is something that you must try right now new subscribers can get a full 30 day money back guarantee With nothing to risk sign up now to larry pesavento's fibonacci 24 seven by visiting the front page of tfnn.com under trading newsletters The path of least resistance is david white's daily trading newsletter And if you're looking for active trading ideas then now's a perfect time for a 30 day free trial to this powerful daily trading advisory service david uses his years of trading experience to offer his Subscribers his trading ideas each morning in his path of least resistance newsletter Using a combination of equity trades along with options david keeps his subscribers up to date with all pertinent market information with Intra day afternoon updates when warranted don't miss out on this great chance to get a 30 day free trial to david's daily newsletter The path of lease resistance with no obligation to pay anything david has been delivering solid recommendations for his subscribers recently And if you'd like to see the type of newsletter He delivers every morning then visit the front page of tfnn And you'll find the path of lease resistance under trading newsletters for all the details and to start your 30 day free trial Today log on to tfnn.com now Tfnn is excited about our new software charting program the art of timing the trade charts In collaboration with tom o'brien and using his best-selling book the art of timing the trade your ultimate trading mastery system david white has programmed an outstanding piece of software that will complement any trader's methodology Using this first of its kind program the art of timing the trade charts allows you to scan thousands of stocks for Fibonacci formation setups including guard lease abc's butterflies and much more The art of timing the trade charts is designed to help you when scouring the markets for stocks Just beginning to form the trading patterns that many investors spend days weeks or even months searching to find and right now We're offering licenses available at only $79 a month We are so confident that you're going to love this new charting software that will even give you a 30 day Unconditional money back guarantee don't miss out on this incredible new piece of software Get your copy of the art of timing the trade charts today by visiting tfnn.com This segment is brought to you by think or swim for more information Just click the think or swim banner on the front page of tfnn.com Okay, folks. We've got rich anderson on of anderson capital management rich. How you doing this morning? Doing great. How you doing larry? I'm still hanging in there, buddy. Stand away from open graves as they say Hey, listen a question that we have one of our listeners the hog market We've uh, you the last time here on you were really friendly to the december and october hogs They've had a really nice 10 cent run here. Do they have more to go in the upside or is this where they're going to stall out a bit? You know, I was thinking I was thinking about that this morning, uh First of all the imports from china not from the u.s. But the imports from china are are up big Um Because they've killed off so much of their hogs So at any point They could all of a sudden become a buyer in this country and and their needs are You know massive it makes our production look In consequential practically Um So it makes it impossible to be short the july went off the board selling off about 10 dollars As it went into expiration and the august goes off the board in the tenth to the state of august The cash market's actually underneath the futures the futures is catching up because of the heat wave the cash prices have gone up You know, I'd buy dips, but I wouldn't I wouldn't chase rally the You know, it's a it's a politically motivated deal. We we uh, you know, final grain And the the chinese have kind of announced that it's a good rule just that they're going to buy two to three million tons of soybean Well, that's that's not a consequential amount. It's a it's a start for some consequential amount Uh, there's the trade negotiations on monday have been moved, you know, they're in uh Shanghai aren't they rather than Beijing Yet you have some of their publications talking Militarily about how, you know, they're cast through the black ants So you have these geopolitical things and it makes it tough I'd rather go with patterns that look like they're exciting to me and the one that Is caught my eye Is uh, the silver You know, I mean it's it's broken up a monthly three-year trend line The gold silver ratio seems to have rolled over. I think your friend mr. Garmin yesterday and some of other people your friend rick Mentioned that the gold silver ratio when it's weak is typically when you have a strong metals market A couple shows ago. I was on and mentioned that the reason I like gold is because We had 11 trillion dollars of negative interest rates. So we have the ecb announcing tomorrow what they're going to do And I think that's 11 trillion dollars is now closer to 14 trillion dollars and and it's going to be even more negative And then next week, you know, so I find other places that look more interesting Rich, uh, let's take a quick look here at the wheat market, you know, I was chatting with sigh yesterday and he's uh beginning to get Pretty friendly to wheat. We've got if we can get it down here about another Eight to ten cents. I think we're pretty close to that right now. We've got a nice little Support level here in the wheat contract. Do you have any feelings on the wheat? well, you know the You have You have to look at the technicals because you know the fundamentals are there's wheat's growing almost all over the world They took the heat wave we have here had in this country, you know in parents They've had an amazing heat wave. I mean they're now talking about How are they going to clue cool nuclear power plants if the rivers get too warm? I mean, so this heat wave in in paris and you know in france in general I think you look for the uh reversal It's it's uh, it's had a nice sell-off that bears are telling you that Uh, you know, there's a big head and shoulders pattern, but these head and shoulders patterns don't always follow through We're we're in the beginning and through the middle of harvest And as we go north the harvest starts down texas and goes north into canada Um in and that puts pressure on this puts the seasonally puts pressure on the wheat market And that pressure should be alleviated by by the first of august and Then you go with the technicals the first buy signal you get you jump all over it How hard is it back there rich as you're of course here in minneapolis, so it's you know not to Yeah, we're we're on we're on the edge of it. So we we didn't really you know We've had a couple of 90 degree days, but it hasn't it it rains all the time It's it's been unbelievable to the east of us where it's been tough. Um, So yeah, we we've actually had a pretty good that the the key thing is Everybody's wondering what our prevent plan is going to be how many actual acres We're planted that won't that will get harvested. I mean the government's currently looking at 91 percent That is going to happen. They know it's not going to happen. The next big report is in august after resurvey I think it will have a realizing market much like 1993 in the corn So the wheat and corn will go together the wheat will probably bottom first because it'll have been through its harvest a little bit through its harvest pressure um And it's it's going to all work together and and it'll end up Moving much much higher, but these markets are really price drivers are the algos and algos are watching every Keywords and every news feed and every twitter feed And whatever the hit theme you know one buys and another and and that pushes these things That's why you have to be a technical trader. Yeah, rich explain to the folks what you mean by algos I mean we had a question right now from someone in the dandy doesn't understand algos You want to tell them what you're looking at? well these are just computerized trading programs that Can change their orders faster than you or I can blink Okay, and and by the way their servers are right next to the exchange servers So they've got the you know, they've They've got the shortest distance to the exchange server to change their orders And then their their monitoring may be 100 200 news feeds Searching for keywords of maybe 10 or 15 things and whenever they see that and then the market starts to do this They just automatically buy or sell And it's and that forces another algo that's doing something very similar to To do the same thing and and that's why you see these swishes up and down in all markets the oil markets the stock market bond market And it's like tomorrow the etb Their their announcements the algos will be just hotest can be on that and they can just react so much faster than weekend Because it's all being done by a computer not by not by a human not by a hand There are humans monitoring this stuff and they're called tech You know, they're they're they're called technicians. A lot of them are physicists stuff like that But it's uh, you're competing on it the shorter term you're trading you're competing Against machines and the machines are just way faster than you can ever imagine Now that's for sure Rich one of the questions that someone's asking us about the you know the situation with iran and uh The great britain about these tankers and stuff with the oil market trading at 57 dollars Barrel what uh, you have a feeling for where you think oil's going well I mean We've increased our productions in this country something fierce in the fermion basin and all these others between the natural gas and the crude Stocks have come down some But as an example We gotta pay a few bills rich stay with us and we'll be right back with rich anderson of anderson capital management If you are in a cd market and looking for a secure investment the tiger first mortgage program may work for you The security for these first mortgages are building lots in the tax opportunity zone in st. 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This deal ends july 31st So don't miss out get your tiger dollars and sign up today for the gold report 900th issue sale Will the s&p 500 continue to climb for bold trades on us large cap stocks in either direction trade spxl spu u or spxs Directions daily s&p 500 bull and bear leveraged etfs Direction leveraged etfs an investor should carefully consider a fund's investment objective risks charges and expenses before investing A fund's prospectus and summary prospectus contain this and other information about direction shares To obtain a fund's prospectus and summary prospectus call 866-476-7523 or visit direction investments dot com A fund's prospectus and 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 The bull bear binary option hour next on tfnn Okay. Hey rich, we got a question from one of our listeners About the government department of justice going after some of the big tech companies So if you've got any feedback on that that you might be able to help us with we're getting Um We're getting into election season. You'll start to hear all kinds of you know funny stories, um I mean facebook just paid a fine in europe, but it's not just here. It's all over the world It's all over the world and going back to the other question about the oil Do you realize that iran has two tankers sitting off the coast of brazil that it's trying to lean on brazil to refuel But they don't want to get caught up in this You know deal with the the bands that the us is connected to Iran so they're you know, they're refusing to refuel these tankers I mean, it's geo politics is really driving a lot of this stuff and You just don't know what's gonna what's gonna happen And that's true for companies, you know this If the europeans want to play hardball they try and attack our our biggest biggest companies and You know certain politicians to get in the headlines You know, they'll get committees going and get their agencies going after That's the kind of silly season. We're in right now Oh, yeah, it's certainly political. I didn't realize this thing going on in brazil rich What would be uh, what's what's on your watch list as far as you know, we've got corn coming down here Uh, you know getting close to some really key support areas Do you have any particular trade that you'd like to share with us? Uh with our listeners here? Well, I mean When I talked about the hogs a couple times ago It was because of a report had come out and it was negative and the market had sold off into the report that figured There's no risk. It had to go up. You know, I mean They've been pounding on the corn. This is the time of the year when they typically Yeah, it's hard for the corn market to go up unless you have a real heat or drought I think We're the proper port in august I think you're going to see this corn market start to find the little catch and hold here And start to go up and it will go up into november and I I guess I would lean towards the corn being Probably that that's at the top of my list But markets that I don't normally trade the silver. I mean when you have a monthly breakout That's a big deal to me That's a market that could have a move way more than You know What we could imagine and that's a time frame. I can make money and I don't have to compete against the alcohol Okay, that's good, you know rich a couple months ago back in april you warned of a double top in cattle And they dropped a 20 cents a pound. What are you looking at now in the december cattle? Well, the you know, the cattle market's been moving up recently Just I think because The idea that proteins there's going to be a demand for protein, but I wouldn't I wouldn't chase this rally if we Have some kind of a nice retracement I'd be willing to take a look at it But I wouldn't frankly the these cattle are up near the highs from a couple weeks go and That they may very well make higher highs by a little bit and then fail. So I'm It doesn't catch my Rich are they talking anything about this beyond meat stock? That's you know a substitute of vegetarian meat or whatever it is. Have you ever tasted it by any by any chance? Did you know that what it tastes like? Uh, I had no I haven't talked to some people that have and they they you know has a it's made out peas There aren't enough peas in the world There's you know to validate the price of the stock It uses all kinds of you know flavorings and chemicals to come up with this product And every meat company out there every packing company out there's been looking to recreate their own version of that closes I I've tasted some Vegetarian meatballs in Detroit when I was in Detroit for that meeting a couple months ago and They actually had the texture and flavor that was you know quite pleasing for a person that's not a vegetarian So I but but to make these things it takes It takes a lot of chemicals and stuff and is that going to be any healthier than you know Yeah, or pork or chicken Yeah, that's like genetic engineered corn too remember we we went through that a couple times to see what's uh going on Listen, I know you're real busy this morning and I want to thank you for coming on so You know keep the faith and we're going to try to have scion next Week after next to visit with him So thanks for joining us today And uh, we'll keep in touch like we always do and all the blessings for the family folks put some white light out there We got a little bit of an illness over there and the anderson family that could use some prayers So we're praying for you buddy. So keep the faith. All right. Thank you. You have a good birthday this weekend, too I don't have no idea. There's been a disconnection here with the internet young people so they can drink before they're 21 Okay, all right folks, uh, let's move on here to one other one that I wanted to talk about and that is the uh, australian dollar We'll take a look here. We've had some really good moves here in the australian dollar. We're getting up near that 71 area We're still right around 70 if we could get that australian dollar up around 71 this has a longer term bearish picture and the australian dollar really follows what the australian stock market does My goodness, it's just really, you know, lines up, uh, you know, really pretty easily. So take a look Folks several questions have asked me about this euro. Hey, I'm just taking a Sophisticated, you know guests down here that it's going to hold this 111 and change level because we've got that Really nice abc I'm expecting one more jab down to get down to that 111 maybe take it out by just a little bit And if it doesn't collapse from that level, you know, you can put on You can buy the euro. You don't have to risk more than, you know, 400 bucks You got a hundred thousand dollar contract and it would certainly have a four or five to one Risk reward favor in your favor. So that's really, you know, what you're what you're really trying to do is to put that You know, line it up together so that you're able to see You know, see how it works. So that's my two cents worth whether that helps or not I don't know, but that's what we're that's what we're watching. So let's keep a uh, oh Well, we hit 1430 in the gold folks. That's that means that there could be Something really big happening. We're starting to move up into stock market too. So this could be a Pretty bullish day maybe across the board. We got to get above 1430 though In the gold we hit it exactly and we we hit above it then that's going to tell us right now that doesn't Doesn't mean a whole lot. So we'll we'll watch it very very closely Anyway, the euros right now is trading at one one one one five The low was one one one two five. So we've only rallied, you know, very very slightly about 20 pips Doesn't really mean very much at all. And of course, this is the first Half hour of the trading day for most of the stock indices. So that's usually what we call amateur hour That's the time that you don't really want to be You know chasing the market at any particular time Regarding the the oil market folks, you know, we do have some resistance in the oil at the 57 50 level basis to september crude That's a very very important number. We hit it. We hit it yesterday In a very Actually, did we hit it? Yes, we did. Yeah, we did get up there at 57 50 And so today the number you want to be watching here is around 57 20 And then we're going to find out whether it's going to be Holding that level right now. So that's basically what we're looking at someone asked me about this The gold level at 1430 folks. That's just based on these numbers of Of, you know, how the market goes up and down and you know, what it's done previously You figure out what it's going to do in the future. That's really what you're looking at. So Those are the things that we're we're watching here early this morning So watch the watch the time frame of around 1030 today in gold folks That's the one that's going to be the most interesting. I believe Because it should be pretty good Okay, we'll take a little break. Give me right back and wind up the show 877-927-6648 I'm certain you are or strive to be one of the best of the best at everything you do in life It's the most common trait that we tigers and tigers is share If you're looking to become the best of the best when it comes to managing your money Let me teach you to do what most wealth managers tell you can't be done Which is how to time the markets I'm Steve Rhodes author of mastering probability and for the last 12 months Timer digest has been tracking my newsletter signals Which have earned me the ranking as their number one market timer in the nation for the s and p 500 For the last 12 6 and 3 months timer digest also ranks me as the number one market timer for gold as well The fact is markets can be timed and I'll teach you the exact set of tools that I use that is Transform me into one of the best at what I do sign up for mastering probability today By clicking on the newsletter tab on the home page of tfn.com and get immediate access to workshops Where I take you step by step how to use an extraordinary set of tools as well as provide great market calls too Sign up today If you haven't checked out the newsletters page of tfn.com What are you waiting for all of the tfn newsletters are informative up to date Affordable and a must-have for every trader looking to gain a competitive informational edge in today's markets tfn newsletters cover every aspect of the markets to offer you the very latest in market news Plus new subscribers get to test drive our newsletters risk-free for 30 days From all aspects of the markets including stocks bonds metals commodities and tech There's a newsletter to fit your needs exclusively from tfn Stay informed each day you trade and get the competitive edge that will help you stay ahead of the game Visit our newsletters page by going to tfn.com and click the newsletters button near the top of the page tfn.com educating investors Since 1984 basil Chapman has been using the Chapman wave methodology to advise traders of his expert market opinion While originally hand drawing charts from the late 1970s into the 1980s Basil noticed that prices under most circumstances virtually always had a certain number of legs to the upside before declining sharply Later basil found that computer software which included the standard market technical indicators enhanced the degree of accuracy and calling price turns As well as market trend calls Thus was born the Chapman wave sequence Using the Chapman wave methodology along with other indicators basil Chapman advises his subscribers of his expert market opinion Each market day with his opening call newsletter Right now you can get a two week free trial to the opening call basil's daily trading newsletter by visiting the front page of tfn.com Cancel at any time during that trial and pay absolutely nothing get your two week free trial to basil's newsletter The opening call today by visiting tfnn.com This segment is brought to you by think or swim for more information Just click the think or swim banner on the front page of tfnn.com Okay, we're back folks and we want to uh Keep a close eye on this u.s. Dollar as we mentioned when we started the show very very important down here at this 111 area In the euro equivalent to that tie we made so far in the dollar index today If we get that dollar index above 98 that would certainly tell us that the euro Is getting most probably ready to head down to those lower levels on the long-term weekly that we've seen At that 108 to 105 level, but we've got to we've got to really shatter that 111 area in order to get to that level There's a lot of support sitting there at that particular time The other thing that is very important is that natural gas folks. I know we have a bullish stance on that We have a slight profit in it, but below one below 222 you don't want to hold it So your risk here is only a few hundred dollars and you don't want to mess with I want to share with you a chart that comes from One of our trading friends over in india. It is the dollar index the way they look at it It's a little bit shorter term Chart that you're looking at this is over the last five or six days Excuse me a little bit longer than about the last two weeks And you can see here that same number that we're looking at in the u.s. Dollar as they look at it from their Advantage point over there in Mumbai. So remember this market that's going up here, you know It's basically doing it on 100 between 80 and 100 stocks the rest of the market is not You know following through as much we're making a higher high today Then yesterday, of course in the new york stock exchange index, but we're not even close to the old highs as of yet Then same thing is with the russell 2000 the iWM is also doing the same thing if we get above 1430 today folks And the silver breaks out above 1670 We're probably getting ready to have one heck of another run in this The platinum's up against a real serious resistance at this 875 so far the high has been 878 trading at 876 right now early in the day So sort of keep a you know very close eye on that one remember tomorrow We're going to have tim bossed as our guest the financial cycles weekly out of sarasota And on friday try not to miss that show folks because we're going to have bill meridian on From vienna austria cycles research and of course, you know the quality of his work is Really superb. So have a wonderful day. Live every day in an attitude of gratitude and may god bless