 The following is a presentation of TFNN The Trader's Edge with Steve Rhodes, toll-free at 1-877-927-6648 or internationally at 727-873-7618 The Trader's Edge Now, Steve Rhodes Good afternoon from TFNN, excuse me, welcome to the August 9th, the fantastic Friday edition of today's Trader's Edge 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. Hope everyone out there is having a great day. Hey, let's make sure we have an extraordinary day, an extraordinary weekend, an extraordinary life. The easiest way to do that, it's just 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 circumstances that life is going to toss at us. Now, today you and I, we're going to go check on the circumstance of these markets. We're going to go figure out what the bulls and the bears, what those buyers and sellers are communicating to you and I just passed one o'clock in the afternoon. I want you to know that I'm absolutely grateful for your presence here, but way more important than that. During this next hour, I'm here to serve you. So feel free to pick up that phone. You can dial in right now, 877-927-6648. If you can't dial in, we've got you covered. Let those fingers do the walking. Rifle off a quick email, Steve at TFNN.com. Inside the subject heading, please put radio show question to any of our Tigers then, well, any ping we'll 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 less show right now. The Dow off one, two, three, 123 points to the downside. 26-253 is the print. The S&P off 23, the Nasdaq 185, that's a little over 1%, Russell down a little over 1%, 18 points as well. Spotball utility index up 9% to buck 50, traded 1841. Gold is flat basically off the buck. Silver is flat. Light's recruit is not flat. It's up two bucker runes. Lead in the charge, the upside, Nevereaux Corp. That's about 11 bucks or 17%. Pay low city holdings up 8% or 8 bucks. Shopify up 10 bucks, 3%. To the downside, lead in the charge, dollar wise, 28 bucks, Amazon. DXC technology off 16, Google up 15. Nectar therapeutics down about 10 bucks, but that's 32% to the downside. So let's go to our first question that came in. This came in from Craig. He wanted to take a look at the intermediate time period for Alcoa. Ticker symbol there is AA. And so if we take a look at Alcoa out here, just simply in taking a look at where price is trading and relationships, so it's daily, weekly, monthly and quarterly task market profiles, prices trading below all of them. So that's not a good scene. Now, Craig is looking for an intermediate term timeframe. If I didn't say that, if I did, well, then I'm just repeating myself, but at this stage here, so intermediate for my thinking, you know, more along the time, more along the lines of weekly, monthly, but we're going to take a look at all the timeframes out here. So, okay, we'll take a look at this price and below support. What's that mean? Jelly bean. Well, we got to go really take a look at Stevie's other charts out here because we want to take a look at patterns that help us to identify bottoms. So if we go take a look at Alcoa out here, here's one of the things we know on a daily chart. We can see that when it topped out here most recently, let me get my cursor out here. That's from the trading session of July 18th. It makes that beautiful singing the key of G Stevie Wonder part of the basil Chapman wave out there. When you get to that letter G or wave number seven out there, you got to be on the lookout. It's a signal why it works. Man, I don't know. I just know that it does and we pay attention to it. So it makes that top that way. Then it starts heading lower and what it was doing about a week ago or so started moving lower with less energy. Then Stevie's system automatically builds those lines in there says, okay, we've got to be paying attention. Now what Alcoa has done out here, Craig, it is trying to form a bottom. How do we know that? Well, two of the last five trading sessions have been hammer candles. The first hammer candle on August the 5th. That's a bullish reversal signal out there. Now price was below its Taz market profiles. An aggressive trader would have tried to take a position on a daily basis right then and there. Stevie would have said, you know, this could just simply bounce up to Stevie's red line. It did neither because the next day it tested the bottom of that hammer candle. Okay, so didn't get any follow through. Then what happens on the trading session of August 7th, another hammer candle forms. Then the next day that was yesterday. That move created another bullish reversal signal out here. So what we know on a daily basis, if you're out here fishing, Craig, I understand why you're fishing out, which you'd really like to see here. Prices, as we said, trading back below the daily profile. Not really a good scene out here. Of course, you were talking about intermediate term timeframe on a daily basis. You really want to see this close above 20 79 to suggest that a change in trend or at least a move up to 25 24 would be an outcome, a likely outcome. If we take a look at the weekly timeframe, well, here's what we also know. We know that prices moving lower, doing less relative energy out there. And since the intermediate term timeframe is a timeframe that you're really most interested in, I'm going to suggest you wait for a bullish reversal signal. Now that wouldn't come or the earliest that would come to be, let's say next Friday out there. But you're looking at intermediate term now here gives a potential first resistance level on the way up is 28 92. Let's go take a look at the monthly timeframe chart just for the heck of it. And see if we see anything out here. And we don't see anything only a wave count number four to the downside. Forming that high with that roads momentum indicator top out there. So pay attention to the weekly and the daily daily is telling you, it's trying to form a bottom now make the weekly prove itself to you, Craig, before you go ahead and fire away. So thanks for writing in. Hey, folks, I want to hear from you too. But let's go to the markets. Let's try to do the markets that I see we've got to take a look at what questions about the S&P and the dollar and so forth. So we'll take a look at those items, but let's start with the market. See what they've done here. Now, as you may know, if you've been listening to the show, we've certainly been paying attention to some of the intraday timeframe charts out there. One of those is the two hour timeframe chart. Now the reason is we talked about that wave number seven. That was letter G and L Coa. How that identified a top out here. Well, the two hour chart identified the bottom the low so far. The low of the week was with wave number seven. That's letter G at the bottom of my screen. Now what took place yesterday? What took place yesterday was the market coming into the close formed a beautiful Gertley cell pattern, which was not confirmed until the equity futures contract opened back up at the open because there was a little there was this little gap to the downside. It wasn't really little, but there was a gap to the downside. So you have then plus price had made it right up to resistance. We had been talking about the 29, 33, 50 level. Yeah, price got just above it right at four o'clock. And but but the reality is, hey, you've got a Gertley cell pattern. Now what price is not done is pulled back to its level of support its level of support being 28, 31, 50. We are in this part, by the way, does not complete until 2pm. But it appears what is going on here is it's trying to form a TD set up nine count pattern. Now, if it does, you wouldn't get a confirmation of that till 4pm. So not anything that you can trade off of. And there's no guarantee that this is the pattern that will form out here. It's just what is present at the moment. So where is it that the ES mini maybe is headed to? If it's not going to bottom with that TD set up nine count for that, we just take a look at any Gertley pattern. So all Gertley patterns, we're going to go into the break here. So I'm going to have to finish this up when we come back. But all Gertley patterns have an A to B equal CD. You can see the 1 to 1 price projection here at the 29 37 level. We use that as a guideline. We know it's formed. We know it completed because it had that various reversal signal. Now we take a look at Fibonacci retracement. So it has not even made the point 382 retracement. We'll be right back. If you're not currently using the Taz profile scanner when looking at setting up your trading opportunities, then your arsenal is short a mighty weapon. The Taz profile scanner is a standalone piece of software that instantly filters over 2500 global financial markets such as stocks, ETFs, commodity futures and forex headed by Steve Dahl. Taz understands that in today's technological world, the use of top flight software applications and technical analysis expertise is essential to successful trading in today's market. You also gain access to the webinar that Steve Dahl and Tom O'Brien just hosted the best way to use the Taz profile scanner to profit. This webinar archive is available for all subscribers immediately upon signing up. 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Details on the Tiger's Den are 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 latest updates TFNN.com educating investors. Call now toll free at 1-877-927-6648 internationally at 727-873-7618. Welcome back folks. Oh, one last thing for Craig out there on Alcoa. This is a chart here monthly time frame chart for Alcoa going back to 1997. And it's got its horizontal trading ranges on here, both the monthly and the weekly. And another reason for Craig or anybody to be taken a look at Alcoa to confirm the bottoming patterns that we looked at out there is the fact that prices sitting right in 1941, 1934 has had the largest number of closes or opens on a monthly time frame going back to 1997. There have been 20 right within a few pennies of that level in 2129 on the weekly time frame. If price breaks through this area, there's no bullish reversal signal that Craig is looking for. Then price could get all the way back down to the lows in 2009 and that 991 level out there. So back to the Gartley pattern. So when you have a Gartley cell, we've got an absolute Gartley cell. There's really five different outcomes. The first four are the ones that are on our screen, the ones that we pay attention to. So the first outcome of this pattern would be a .382 retracement, which is 2877. Price has not gotten there. If price doesn't get there and these highs are taking out, and so far our interpretation of this Gartley cells, this is a very strong bullish market out here. That's the only message. The normal retracement of this pattern, and I'm not saying it's not going to happen. I'm just saying we're going to take a look at the chart right now. And at 119, this pattern went into effect last night at 601 p.m. When we had that gap, it really was at six. Of course, it was really by eight o'clock because it's two hour time frame chart and that gap. No, because the gap, yeah, because the gap was open for that two hour time frame out here. So and to not make a .382 retracement, look, if you're short and you're going on the weekend, you got to see price below 2877. Otherwise, you're playing with fire. So those are the outcomes out here. If I take a look at the TAS market profiles for the two hour time frame, just simply so we can get a feel for what they are doing out here, whereas price, price is right now sitting in between the, well, it has bounced all the way up to the center line of the box. That's 2923, fairly equally distributed box out there. So I won't say there's a benefit to buyers or sellers, just that there's buyers and sellers hovering at 2923, uncertain as to what to do. So that's what's going on from a short term standpoint. Koda had asked about the megaphone pattern on the S&P 500. Are you referring to my megaphone? But no, you're not. But let's just take a look at the S&P 500 the following way out here. Here's what we know about the ES mini, because that's really, and I'll switch over to the S&P, but Koda, I'm going to be able to provide you the better information by taking a look at the equity futures contract out there. So here's what we know at this stage of the game. First of all, if we take a look at the retracement off of the bottom, it basically stopped at about the 0.618 retracement level as well, 2932. So it's a normal countertrend rally move out here is to get up to the 0.618 level and it's since sold off. But of course you and I just really focused on that two hour chart. We're not seeing much of a failure at this stage of the game, not as of 1.21. Okay, so we know that. We also know that the TAS market profiles formed a brand new one. It formed above price. Let's get rid of the Fibonacci retracement out here. Let's take a look at our new profiles code and see how they formed above the top of price. So the general meaning there is this is a bearish pattern, but it also means that price could or should bounce up to 2977 before we see that's where the countertrend rally should fail at this stage of the game out here. So 2977, if we put those retracements back up there, that gets us to the 0.786 retracement. That is a third outcome of any type of a Gertle buy pattern. Now we don't have a Gertle buy pattern here on the daily chart. The reason that we don't have a Gertle buy pattern on a daily time frame chart, we take a look at the ES mini, is because we did not get a bullish reversal candle out here. So at this stage, then Kota, it's possible price doesn't make it to 2977. It's possible that 2948, Stevie's Green Line, is the end of the road of that countertrend rally out there. But between 2948 and 2977 is what I would be looking at. I don't know if that makes sense to you from Stevie's megaphone aspect, but at this stage here, when we put this together and we combined that, remember yesterday we spent some time on the New York Stock Exchange and we definitely spent time on the spot volatility index. We want to become aficionados of that. If we take a look at the New York Stock Exchange, what we don't like, what bulls would not like out here, is the fact that the advanced decline oscillator turned down at this descending trend line that's been in place since July the third out there. So it's still below zero. And when the advanced decline oscillator is below zero, Kota, there is only one way that Stevie will communicate to you what it is communicating to us. And that is that sellers are in control. So sellers are in control of the New York Stock Exchange. We can then go take a look at what the spot volatility index is doing. It is above the 50-day expansion moving average. That's 1551. We're trading at 1788. That is also a bad scene out here. So with regard to what we take a look at going on in the ES mini out there, the New York Stock Exchange, where price is trading on the spot volatility index, where Stevie's green line is at on the daily time frame chart, this is still a countertrend rally. What we're trying to figure out is where does that rally end out here in today, a light trading volume day. I don't know what the proper interpretation of that is. We just know that there's been less than a .382 retracement of a effective Gertley sell pattern that is out there. So I hope that helps you out with regard to that. Now you also wanted to take a look at the US dollar index out here. So to do that, let's take a look at where the US dollar index is trading in relationship to its TAS market profiles. Let's at least begin there. And so here's what we know. We know that the price is trading below and I'm going to focus on the daily time frame. That's right panel. Well, it's going to be the full panel right now. So here's what we know. We know that the US dollar index topped out here, by the way, on August the 1st. Now when it topped using the daily time frame chart, it generated that TD set up nine count pattern. It was bar number eight. Remember, it's bars eight, nine, or the bar following nine out here. So it effectively generated a nice topping signal wave counts. Where were we? We were in only wave number five. That's OK. Remember, there's a handful of patterns, four or five, that are going to be effective at helping us to identify tops and bottoms out there. And that's really, that's really the skill set that you and I want to be able to master. And what we also know, Kota, is that when, when price does make a top, that our first expectation should not be that it's the end of the run, just that price is going to go down and test support. Now for support, you and I use really two different things out here. We use our task market profiles, as you can see, and as we looked at prices trading slightly below the bottom of the profile. So that is directionally bearish out here. So sellers in essence are in control, but price had pushed down right to its prior breakout level 96. And that's the real key area, 96.985. That was tested, that was rejected on August 6th. I remember we were looking at that. We were saying, look at how the U.S. Dollar index has held support. But what it hasn't done is it needs to get above Stevie's green line. That's 97.58. If it does that, then a continued run higher, at least to 97.81, and the top of its profile 98.40 would be the call out there. But that's not the call. It's trading in between, it's kind of like in a, it's between support and resistance. Resistance either the bottom of the box or Stevie's green line, either of those, but above support, which is the breakout level out here for the U.S. Dollar index on a daily time frame chart. This is Steve Rhodes with TFNN. Hope you're right there. The path of least resistance is David White's daily trading newsletter. And if you're looking for active trading ideas, then now is 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 intraday 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 least 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 least 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. 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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. Welcome back, folks. So one of our dinners, Peter in the den, wanted to take a look at gold priced in the other major currencies. Actually, we have the US dollar. That's the left hand panel. Panel number two from the left is gold priced in euros. Next to that is gold in yen. And next to that is gold in Great British Pounds. And his question was, he was curious as to whether they were trading at all-time highs in those currencies. And the answer is, in terms of euros and in terms of pounds, the answer is yes. They are trading at all-time highs. In terms of yen, it's made a slightly higher high. Euros is getting up towards that level. That level would be right around 1,391 euros for an ounce of gold out here. But you can see that in terms of US dollars, well away from its all-time high out there. Now, the cool thing is, longer term, what's the message here for gold? The message is, this is not how tops form for gold in gold priced in dollars out here. So you can just clearly see traders around the globe doing what they can to get into US-oriented assets or out of their currencies and certainly stock up here. So that's what's going on, Peter, when we take a look at gold priced in those currencies and always happy to assist there. But markets do not, they will all top at approximately the same time. And in the case of US dollars, you can see we're way away from that level out there. So longer term, that doesn't mean we don't have a pullback or things along those lines. But so hopefully that helps you out. Let me get rid of this chart here. I don't really need that taken up but time and space save that page. No. Okay, so there was another question that had come in earlier in the day and it was if I could re-review, re-review the fact that lower interest rates, which is what you hear the folks on the boob tube talking about, do not result in higher prices in the stock market. So it's just a matter of just taking a look at the facts out here. So here are the facts. I went ahead and just put this together. It's really pretty quick out here when we take a look at this. And it's just really about determining myth versus fact. And the myth that would be out there that people are pushing is that if interest rates rise, the stock market will go down. Or it would have to be vice versa. If interest rates decline, the stock market will go up. Well, you and I have a set of tools where we can determine whether there's any legitimacy to this. Is this a myth or a fact? Well, here is our correlation tool. And I snapped this probably around 11 o'clock this morning or so. The top of this chart is the 30-year treasury bond rate. And the bottom of the chart is the S&P 500 or the next level. And the very bottom is the correlation tool. Now, correlation tool, I have this set to the smallest correlating time period that I could use, which is a five-day period. And the correlation tool, what this does is it looks at that average over the last five days. And if there's a directional correlation, meaning interest rates go up and the S&P goes up, then the bar will be above zero. Now, here we're taking, you can see the majority of these bars are above zero. If the fact was, the fact was that if interest rates rise and the stock market was going to go down, all these bars would be below zero. So I asked you, with your own little eyes or big eyes, what does this tell you? This tells you so far a myth. Now, let's not stop with the 30-year rate. Let's go take a look at the 10-year T-note out here. So again, the top portion is the 10-year rate. The next portion, the S&P 500. And after that, the correlation. As you can see out here, there's no inverse correlation. It's mostly correlated. If the interest rates are rising, the stock market is rising out there. We don't have to stop there. We can just simply look at the five-year T-note rate. And we take a look at this. We have the same outcome. So we've looked at three different interest rate vehicles out here. And they all communicate the same thing. And that same thing is what the big picture tells us. So here's the 13-week T-bill out here. Now, the 13-week T-bill against that of the five-time period out here, it looks to me like it's 50, 50, 60, 40, something like that. But much more clear when we take a look at the five-year rate, the 10-year rate, the 30-year rate out there. And when we take a look at long-term out here, go back for the last quarter of a century. Go back to 1992 to 1995 when we had interest rates rising. This is using the 13-week T-bill. This is the top portion of the chart. The bottom of the chart is the S&P 500. And, yes, you can say that when Trump comes on the air and wants to bash the Federal Reserve, all Powell has to do is just show him this set of charts out there. He doesn't have to talk. He can just say, you know what, let me give you a set of charts so that everybody understands what interest rates do to the stock market. Here, October 1998 to October 2000. Take a look, the S&P rose by 30%. We don't have to stop there. We go to 2003 to 2007. Interest rates are rising. The stock market, the S&P rose by 44%. And we can, of course, take a look at since September of 2015, in essence through February of 2019 out there. And what did we see? The S&P rising by, I guess, 45. Maybe I don't know if I have my, yeah, 45%. Yeah, 44% last time, 45% this time. It's really equivocal. Basically what the folks on the tube are doing is giving you a bunch of BS. It was all before Steve shared with you the actual facts out here. So there you go. So it's not unusual that Powell reduced rates. And on top of that and the market started moving lower out there. And people are asking for more rate reductions out there. I just want to, yeah, well, you saw me do that. Just hit myself upside the head with a two by four. Are you crazy out there? Yeah, they're so full of their own stuff. Can you believe, you know, these guys are paid pretty well in the media. Can you believe that nobody, and they've got technical traders on there. I wonder where their heads at because I haven't heard anybody come out and just share the actual facts out there and the actual reality. But why that is, I don't know. Okay, enough of that. Let's go to our next question that came in. This coming in from Brent in Martinez, California. Brent wants to take a look at oil and natural gas. So let's take a look at both those for him. Let's start with the natural gas contract out here. Let me, oh geez, that didn't work. Give me a second here to punch that in properly. Natural gas, September. And let's also go take a look at our profiles out here for natural gas. U19, there we go. And so here's when I take a look at the natural gas set of charts out here. If we just simply take a look at the daily weekly profiles, Brent, we can see prices trading below both of them. So now it's really, so sellers in essence are the ones that are in control would be that meaning. And 2.183 is the bottom of that daily timeframe box out here. And I don't have any new profile or anything that is forming. Okay, so we know that. Yeah, price has been kind of trading, chopping around sideways. In essence, that's what our five-hour and our two-hour chart is showing us out here. If we look to the daily timeframe, is there any kind of a bottoming signal out here? And I just don't have one. If we do the wave counts out here, and we're gonna have to finish this up at the break, only in wave number five to the downside. Let's come back. Let's take a look at the weekly. Let's try to wrap our head around natural gas, light sweet crude. And of course, I want to hear from you. 877-927-6648. Hope you're right. The investment is anywhere from $30,000 to $75,000. The interest paid is 7% yearly paid on a monthly basis. According to bankrate.com, the best rate for a four-year CD in the country as of February 20th is 3.1%. A $50,000 investment at a normal four-year CD rate of 3.1% would give you income of $1,550 per year, or $6,200 over the four-year period. That same $50,000 investment in the Tiger First Mortgage Program would give you $3,500 per year, or $14,000 over the four years. What should you prefer? $6,200 or $14,000 of interest on your investment. If you'd like more information about the Tiger First Mortgage Program, you can call me at 877-518-9190. That's 877-518-9190. If you haven't checked out the newsletters page of TFNN.com, what are you waiting for? 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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. Welcome back, folks. So let's take a look at the natural gas. We began looking at the daily timeframe chart here. And what we don't have is any kind of bottom signal that you and I like to look for. I don't have an A to B equals CD to the downside that I could really paint in here. We're in wave number five. That's letter E. And so let's go to a longer-term timeframe long-term. Let's go to the weekly. Let's look at the weekly and the monthly. First, let me do the monthly. And the monthly says this. The monthly shows that this month should be the eighth bar of a TD set up nine count. Now, what you like about that is the last time the natural gas bottomed, it was with bar number eight. Now, that happened to be back in March of 2016. So maybe this is a repeat performance here. Of course, we won't know if this pattern is going to complete and generate itself until the end of September out there. But at least at this stage, it's forming a similar type of a bottom to a significant bottom back in 2016, so a reason to be looking. So then that says, all right, so we know the daily doesn't really have the bottoming signal we want. But what's the weekly chart show us out here at the intermediate-term timeframe? Well, what it shows us is that it topped with a TD set up nine count. So that's the high out here. If we do our wave count from that, we can see that this week is extended into wave number six. Wave number seven, the earliest it could happen would be two weeks from now, two weeks from now. So I would prefer to wait to see seventh wave move. That would be letter G form inside natural gas. And if that's what's really going on, this choppiness area out here, maybe here to stay for a while. At least a couple of weeks out here for natural gas. So I just don't see the bottom. We can see Stevie's red line or we can see the top of the weekly profile has acted as resistance. So that's helpful to us. But now let's just say Brent maybe is interested or somebody else is interested in a shorter term trade out here with regard to natural gas. We can see on the 60, well, that's light sweet crude. Sorry, let's just take a look at this chart here for natural gas. What do we know? Brent, the 60 minute timeframe chart seems to be providing you and I with the best support level signal out here. So from a trading standpoint, the last time that we got a TD set up nine count to the upside is where we have our support. And that's at 2.073. We can see that even earlier this morning that level was tested and in essence it held. There was a slight close just below that, but it didn't stay below that. That was a nine o'clock. It didn't stay below 2.073 for very long and it's rallied off of that. We can also see that this resistance level at 2.16 out here, that's a pretty key area of resistance. Price has not been able to get above that, but if you were playing it interday to the upside or maybe the next time price comes down to 2.07 and holds out there, then you're watching 216 as a key level that price would. So that's really the range that I see out here when I look at the different charts for natural gas. Price trading between at the bottom around 2.07 and a resistance around 2.16 out there. So that's what I see now. You would ask about LightSuite Crude as well. And then LightSuite Crude and you would identify, identified in your email that the daily charts were better. And you're right. You're absolutely right. Now, if we take a look at LightSuite Crude, here's what we know. We know that it topped out here with a rose momentum indicator top. It does that on April 23rd. And if we start doing our wave count, well, it gets to wave number six back on the week of the Daily Chart. We're like on June 5th, 2019 out here. And then it makes up four waves the upside and then we're in wave number three of the downside or if we just extend from the top out here from April 23rd, that'll take us to wave number seven, singing the key of G. And since then, and that completed an A to B equals CD pattern. However, no bullish reversal candle. So it becomes really hard to say the A to B equals CD pattern has taken hold. The price is trading above Stevie's green line, 5440. It's actually red. But if price can close above 5440, Brent, what we ought to see is a move. Let's get back to LightSuite Crude and take a look at its profiles out here. What we ought to see LightSuite Crude is top out at a brand new daily profile that is attempting to form right now. And the top of that daily is 5633. And the bottom of the weekly is 5228. That's the key area of resistance. Closing above that would most certainly be bullish out there and say that that wave number seven or letter G was the real deal for LightSuite Crude. If I take a look at the weekly timeframe for LightSuite Crude and we try to find some type of bottom, all that we can find is support. And support, oh wait a minute, is this is the, that's the wrong contract. I got told on a second here, we got to change this. We got to change this up. Geez, little wheeze out here. Okay. Hey, Stevo, it does help if you're going to analyze something to make sure you're analyzing the right thing. Okay, so here, here's what we know about LightSuite Crude from a weekly standpoint. Support is 50.05. Now price has been down to that level or near that level three different times. The most recent this week didn't get down there. Now you may have a bullish hammer candle right at support out here, but price on a weekly basis, not above Stevie's red line, 56.38. But if it can close above that on a weekly, we gave you the numbers on the daily. Again that run to the 59.59-ish area would really be its message out there. So that's what I see in taking a look at LightSuite Crude. If I go over to the short-term timeframe for LightSuite Crude and really what you look for here is you look for resistance levels to fail. Those are the green horizontal lines on my screen out here. So what we can see is the first one failed. That was at 52.76. The second one, I don't have it spread all the way across, but you can see it visually, 53.56. That says that where price is headed to on a 30-minute timeframe, the next resistance level being 55.14. Now the caution as we speak right now on a 30-minute timeframe chart at 148 is the fact that this is now the bar following bar nine of a TD setup nine count. And we know that the bar following bar nine, if that's a higher high than bars eight or nine, that this can be a topping signal. So at 1.49 in the afternoon, you don't want to chase this and instead you want to try to buy the first pullback, the ideal pullback on a 30-minute basis if you're convinced that the weekly and the daily timeframe charts are signaling a possible buy a bullish bottom, that wave number G and so forth. Then right now it would be 52.96. That would be the level of some type of pullback to that area of support from a 30-minute timeframe for LightSuite crude. So Brent, thanks for writing in. I hope that helps answer your question with regard to both natural gas and LightSuite crude. Lee B writes in, he says, Hey, Steve, hey, Lee, can you look at glue? G-L-U-U out here, we can. So let's go take a look at, oh, well, let's put it in here. I don't know how long glue has been trading. I'm just looking at their profiles out here, but let's go to the three different time frames. So the question that Lee has is, you're looking to buy in for a long-term hold out here. So here's what we know about glue, which is glue mobile. Well below, got snookered last week and that snookering took price down to the center of its quarterly profile, $4.29 cents out there, bullish in structure. So a bullish level held. If it doesn't hold, if price continues to move lower, $3.36 would be the next move to the downside. But what we want to see out here as we come back from this break, folks, is did glue G-L double U? Did it form some type of bottoming signal on the daily timeframe when it had a gap to the downside with big volume? I don't know. Let's go find out. Steve wrote the TFNN, we'll be right back. 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 likes to the upside before declining sharply. Later, Basil found that computer software, which included the standard market technical indicators, enhanced the degree of accuracy in 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 TFNN.com. Cancel at any time during that trial and pay absolutely nothing. 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But today, our food sources no longer contain the vitamins, minerals, and nutrients our bodies need to stay healthy and strong. That's why we need primal-edge daily nutrition. It includes a special blend of ionic, oil-based vitamins, minerals, fatty, and amino acids in an easy-to-use liquid form. Primal-edge is powered by highly concentrated folic and humic acids. Nature's preferred delivery system. They've been called miracle molecules because, like sunlight, air and water, life not exists without them. That's right, Paige. They ensure we receive all the nutrition we need to be healthy and thrive. We take it every morning. Primal-edge, formulated and approved by Niko and Paige of Living at Primal Lifestyle. Buy it today for just $89. Click on the Primal-edge banner on the front page of TFNN.com. This is David White. Stay tuned because coming up next is the power trading hour right here on TFNN. Welcome back, folks. So we're taking a look at ticker symbol G-L-U-U out here. Lee's looking at a long-term type of hold out here. So here's what we know, Lee, as we take a look at the monthly timeframe chart. We know that it topped with wave number seven. That's letter G. It's why you and I always pay attention to that, since it's backed off. But what price is not done. So when you top with a pattern, we always look for price to move back to support. So you're thinking long-term, price is below the bottom of its bullish structured monthly profile out there. We know that the breakout level for G-L-U-U took place at $358 on a monthly timeframe chart. So $358 has to be the number that you should be thinking about. That's at least what the monthly says. Let's go take a look at the weekly out here, see what we see. So on a weekly timeframe chart, we do wave counts to the downside, get to wave number four out here. This has $366 as a breakout area. So again, this is also suggesting lower price. We don't see a bottom. This did have a short-term bottom on a weekly base with a TD set up nine count. Lasted for two, four weeks out there. And then last week, just got the kibosh kicked out of it. And on a daily timeframe chart, it is true that price was pushing lower, is pushing lower, with less relative energy. And you did get a hammer candle a couple days ago. But if this was going to form the bottom, you would see price close over $578. That's the top of its daily profile out there. If that happens, man, then you're going to be dealing with this entire gap out here. But at this stage of the game, you're looking for a long-term hold. Stevie says the charts say, long-term, you need to just be patient and wait to see if price will pull back to that weekly or daily breakout level. Well, folks, it's been a great week. It's been a wild week to say the least. But I think we have a bunch more wild weeks ahead. I don't want to thank you very much for being here. Thank everybody for setting in requests of questions or the guys and gals inside the Tiger's Den and the callers that we have out there. It always makes it easier for me, the show, run smoother mostly because I'm giving you the information that you're asking for. And all we're doing is just reading the chart patterns. We don't care who's tweeting what, who's saying what. What are buyers and sellers saying? What patterns are they making? Hey, I'll tell you a pattern you should make. Just go have a great weekend. And we'll see you again Monday afternoon. Take care, folks.