 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 morning folks. Welcome to the May 26th, the fantastic Friday edition of today's Trader's Zen 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's having a great day. Let's make sure we have an extraordinary one. The easiest way to do that well 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 ship, well it means we can find the gift in every set of circumstance that life is going to toss at us. Now today you and I are going to go check on the circumstance of these markets. We'll go figure out what those bulls and bears, what those buyers and sellers are communicating to you and I at just past 11 o'clock in the morning. I do want you to know I'm absolutely grateful for your presence here but even more important than that and that's this during this next 53 minutes I'm here to serve you so feel free to pick up that phone and dial in 877-927-6648. Now if you got a question but you can't dial in send me an email. Send that off to Steve at tfn.com and inside the subject heading please put radio show question. Now if you're inside our tiger's den, well then any in every ping will do. So let's go and get this show started on fantastic Friday. Of course this is Tiger Financial News Network. I'm Steve Rhodes. Welcome to the show. Right now we've got all the U.S. indices trading the upside nearly all the sectors in the S&P 500, the energy sector down about 36 cents. That was up 313. S&P's up 44. NASDAQ 159. Russell's up 12. Semi's up 141. Trendy's up 36. Gold is up 3 bucks while Silver's up 36 cents. Trading out a 2315. Lights recruiters up 44 pennies. It's nearly $72 as the print there. Natural gas down 9 cents to 30 a treasury. Printed out at $125.04 and I'll leave the charge dollar wise the upside. You got booking holdings 59 bucks 2.25%. Broadcom 6% or 42 bucks. Monolithic power 35 bucks 7%. Mercado Libre 35 bucks 2.7%. Equinex 23 bucks 3.3%. We got some movers and we've got some shakers. Shaking those trees, all the beauty down nearly 56 bucks or nearly 12%. Restoration hardware nearly $10 the downside almost 4%. O'Reilly Auto Mode down 5 bucks a half a percent. Lantheus holdings off 6 bucks. That's a 6% move to the downside and Bionatech is up 3%. That's $3 and 60 cent move. Of course I wanted to look at what you want to look at. So what do you want to look at? Well why don't we first just start with let's take a look at market breadth. Has that cleared up for us? Let's find out. Let's open up our dialogue box. Well these are settings here for the sectors with inside the S&P 500. Let's look at the general markets. Let's look at the S&P 500. Boy this is a real stinker out here. Talk about a false move to the upside and it's a big one. Let me just update this. Let me just update it. It's like I cannot believe my eyes but I am believing my eyes. If we take a look at the S&P 500 right now right here at 11.09 in the morning, our speed dials, these speed dials when you're setting red that tells we have more instruments trading below profile than those trading above profile and there's one thing I can guarantee you. Mark may be breaking out but that is not a breakout message. That is not a breakout message. You would not expect to see this. I did not expect to see this. I was just at the doctor's office, just got back, got great great reviews. I'll share maybe that stuff with you as well. You have taken off now 35 pounds in just over eight weeks time. Be amazed what that does to your health system out there. But then even back to this year, these speed dials all in the bearish zone out there. Something to think about. We take a look at the NASDAQ. We're slightly bearish in the daily timeframe, the 16, 240 yard bullish. On the daily timeframe, we are at 31 above and 38 below. So it's a little bit more than slightly bearish out there. So really interesting markets out here. Okay, Steve, you didn't expect to see that with regard to this rally out there but it is what it is. So now let's try to take and figure out what these markets are doing. So when we take a look at the equity futures out here, we've got the ESMini that still has a sell the D point pattern. That sell the D point pattern formed right here with this bearish and golfing candle that was on the trading session of May 23rd. That says that it's high is the real resistance area out here. So let's give me a second. Let me, I don't want a blue arrow, I want just a yellow line, white line, yellow line. There we go. So let's put the, let's so that mark out there. The heck. Oh, I know what I was doing. There we go. Sorry about that. All right. So here is the line of demarcation, so to speak, 42, 22, 75. The price closes above that. Then we don't have a topping pattern and it would suggest to move up to 43, 16. The end queue, you can see the A to B equals CD pattern out here. Let's just simply expand this out. This formed a road's momentum and a TD9 count top, a wave G top. It had everything, every kind of top you could want, but it's taken those tops out. And that was at the 13, 9, 79, 25 level. Now, what I will say is it will take those out if in fact we get a close above 13, 9, 79, 25. Yesterday, it looked like at settlement, we were closing above this level, but when I tell them we got to my computer this morning, we were back down below. We closed last night at 13, 9, 76, 50. So just slightly below that. But you can see here that pattern appears to be negated and the next price projection area would get us up to about the 14, 5, 91 area. No other topping patterns. There is a road's momentum indicator signal that is still triggered, but that would require a bearish reversal candle to confirm that signal. Now, we have a new profile that's attempting to form inside of the Dow Equity Future Contract. Here you can see the A to B equals C, and you should also notice that yesterday was a bullish hammer candle. Now, the question is, and this is one I can't really answer for you necessarily, it is a question of my mind, how close do you have to get to the one-to-one price projection where you don't get down to where it qualifies? So yesterday's low out here, and I don't know the answer. Yesterday's low is 32, 6, 19. The one-to-one price projection, 32, 495. So that's over 100 points. Is that close enough on a 34,000 priced instrument? Maybe it is. I mean, I don't know. I don't know out there. But what we do have, this is what I do know, there is a new profile that's attempting to form. And the support level there is at 32, 7, 30, and the resistance level is up at 33, 397, and 33, 619. In the case of the Russell 2000, we've got this nice consolidation pattern has been traveling in, and it did find support at the bottom of its bullish structured profile. So it has new support with inside this consolidation pattern. That new support is at 17, 56, 50, and the resistance level is at 17, 98, 50 as well. So that's what we see when we take a look at these charts. Let's just flip over to the white background charts. I'll show you those. We'll stay with the same time period, the daily time period for those equity future contracts. So you see no other patterns other than that sell the D point pattern here for the ESMini. No other patterns, no wave counts, no anything out here for the NQ other than if we do get a various reversal candle, that would confirm, again, a rose momentum indicator signal. You can see the A to B equals CD pattern here on the Dow. You can see yesterday's bullet. So in the case of the Dow, with that new profile forming, if the Dow equity future contract was able to close above 33, 245, let's call it, and that's an estimation. It could be 246 or 247. Then that would suggest to move up to that 33, 397 to 33, 619 area. Steve Rhodes with TF&M. We'll get back for this break. We're going to take a look at Pfizer for Alton, the spies for Dennis, and the SMHs for Mr. Bill. Of course, I'd love to hear from you as well. Currencies, commodities, and bond markets are as important as ever right now with how they're driving the volatility in equity markets across the globe, which is why it's a great time to try out Teddy Kegstat's Tiger Forex report. 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After all, it's impossible to predict the future, right? Like any endeavor in life, before you decide it's impossible, get some advice from the experts. You might find that it's not so impossible after all. For daily market overviews that give you direction on the key indices, selective stocks, and commodities, subscribe to the opening call newsletter at TFNN.com. The opening call newsletter is written by Basil Chapman, creator of the trading methodology known as the Chapman Wave. The Chapman Wave up-down sequence gives you an edge in identifying price turns, finding the peaks and valleys in stock prices. Get the opening call newsletter by Basil Chapman in your inbox every day. First-time subscribers also get a 30-day money back guarantee. If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up. TFNN.com, educating investors. 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. Let's actually read the question out here. So, it goes like this. Hope you're well. I am. Thank you for taking time. Take a look at Pfizer. You've been in a stock. I have been having this stock on your radar for a long time and has pulled back the levels that I'm interested in. What do you think? And what are support and resistance levels in daily weekly charts? Thanks so much. Have a beautiful Memorial trip. Thank you. We'll do that. So, with regard to your support level, there's a new profile that is formed with inside Pfizer. And this new profile is wrapped around the prior profile. So, the first message there, Alton, is to expect a continuation of a consolidation pattern. That is its message right now. It did form a nice Rosemont Dementicator bottom out here that confirmed on May the 19th. Price ran up to where it did. I'm not sure exactly why it stopped there just yet. We haven't investigated that. But your specific questions were about support and resistance. So, your first level resistance on the daily timeframe is $39.35. Your first level of support is $37.45 or thereabouts. That is the oscillator and change line. Your next levels of support on the daily are between $36.57 and $36.96. It is a bullish structured profile. What do I think about you taking a long position here? Let's continue to look at Pfizer. On a weekly timeframe, I do not see any kind of a bottom signal. I see price that has been thrown back by its red oscillator and change line. Therefore, Alton, I'm going to suggest right now that you keep this on your list, but you don't take a position here. If we take a look at the monthly timeframe, it's gunning for at least the $35.76 area out there. So, we don't have a bottom signal. We do have a bottom pattern on the daily timeframe, but that was a week ago plus out here and prices inside that profile. So, I'd wait for at least $37.44 or preferably between $36.57 and $36.96 with price pulling back and generating less than $27 million shares, the swing point value from back on May 18. What else do we want to look at inside of Pfizer? Boy, that monthly TD9 count most certainly worked there that formed on December of 2021. So, this has an A to B equal CD down on a monthly basis. So, let's take a look at that. So, the swing point was from October 2022, 466 million shares. It was passed with 403.504. So, you actually have a confirmed A to B equal CD to the downside on a monthly basis inside of Pfizer. So, let's try to get a feel for where that could take you to Alton. And that might be really what you're really looking at out here. And okay, so now we've got that. And that's below this $35.76 that TD9 count breakout level. So, I'm going to suggest that you be patient here with regard to Pfizer, prices along the left side of that C to D leg out there. And that's telling us that the move down right now is stronger than that move in the A to B leg. So, I'd be very patient when it comes to Pfizer out there. And I do hope that that helps you out. And thanks for your well wishes. Dennis wants to know where the spy is headed to over the next couple of weeks. That's a great question, Dennis. And I don't have the answer to that. But thanks for asking. I do appreciate that. Now, let's just try to look at the spy charts and try to get a feel for what they're communicating to us. So, when we take a look at potential patterns out here in the case of the spy, we basically have no top. Is that, yeah, we have no topping pattern in place for the spy price above the green oscillator and change line above the top of its profile. Those signals are bullish. We're going to end the week today. And if the spy closes above the top of its profile for 1831, we're above it right now, you'll have two consecutive weeks above that profile level. That would be a bullish message. So, where's the A to B equal CD pattern on the spy out here? Well, the A to B, let's draw that in here. We're looking at the weekly time frame. Let's just simply, let's cut and paste. Let's cut, paste and assemble. Copy, paste. Now, let's assemble this. So, here, there's an A to B equal CD that gets you up past 435. It gets you up to about 437 or so. Now, that B point did volume of 544 million. First time up, 458. This time up, 370, 330, 424, 440. So, we're up over this thing with light volume. Does that mean that it can't go on to complete that full extension? It does not mean that at all, Dennis. And you're above resistance levels. You're above, you tested this week, you tested and rejected that oscillator and change line. That's a bullish signal. All right. So, where is it headed to? We finally got to it. And where it's headed to is 423.82 or thereabouts. That is the monthly oscillator and change line. That is the next level of resistance, assuming that we don't get a give back of all price and falls back down below the top of the profile. So, I've given you the profile levels to watch at day's end. So, assuming that those levels succeed, they hold, that what we're looking at is move up to that monthly oscillator and change line. If price closes above that, the signal would be to move up to 468.20 out there. Now, with regard to the SPY, our good friend David White, he taught us that as you're coming into a holiday, you usually see a change in trend after the holiday. Well, it turns out that as we take a look at the SPY out here, this is going to be day number two of consecutive moves higher. So, we took a look at that market breadth. We know the market breadth is bearish across the board for the S&P, bearish in the daily and weekly for the NQ out here. Let's not get too tied into these breakouts that we've got going on right here. You're going to get just your typical knee-jerk reaction move to the upside. Wouldn't be surprised to see price pull back on Tuesday. By the way, I leave for vacation tomorrow. I will. I'm going to make the best effort to possibly broadcast the show on Wednesday. So, we're off on Monday with the holiday. I'm traveling. I'm flying on the following day on Tuesday. So, I can't do a show then. But I'm going to try to do a show from Santorini on both Wednesday and Thursday of next week. Friday, I won't be able to do a show because of airtime out there. But that's next week's schedule. But with regard to the SPY out there, Dennis, at this stage here, watch those profile levels of price closes over them, 423.80. And if you get above that, it says it wants to continue to move higher. So, I hope that helps you out. And Mr. Bill wants to take a look at the SMHs out here. What Mr. Bill knows and what Dennis knows is this market is no way is this going to top until at least we get a top inside the semiconductor index. Well, it turns out right now on a monthly basis. The resistance level, Mr. Bill, the price is dealing with is a monthly TD9 count breakdown area. That's at $145.18. We're at $145.25. If we do close above that, that would be a bullish signal to you and I. And that would suggest to you and I that we retest the recent highs or it's all-time highs out here. And that occurred back on November of 2021. And those highs being $159.41. You are already inside that swing point on a monthly basis. That swing point has volume of 170 million shares. So far this month, what we've done in the SMH is 125 million shares. So a little light in the loafers doesn't matter. You're inside that swing point. We take a look at the weekly timeframe chart. We have no topping signal whatsoever. I mean none. Oh, we have a couple of different A to B equal CD patterns that we can draw in here. No real reason to draw those. We know the A to B equal CD patterns exist. And therefore, if we did get a bearish reversal can on the daily timeframe, that would then confirm a sell the D point pattern, a Gartley sell pattern. But when we take a look at the daily timeframe out here for the SMHs, there ain't no topping place. There's no topping signal. None. We're in bar number two of a TD9 count. The SMHs are not stretched. There is no roads meant to indicator that has been triggered out here. So the SMHs are looking very, very, did I say very? I meant very bullish out there. So Mr. Bill, I hope that helps you out. We get back this break. We're going to take a look at SMCI from a guppy. And I would love to look at others as well. Steve at TFNN.com, 877-927-6648 or any ping inside the Tiger's Den. We'll be right back. 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. 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TFNN airs live financial content streamed live on TFNN.com and TFNN's YouTube channel with Tiger TV, live every market day from 8.30 a.m. to 4.00 p.m. Eastern. For free, each host is an experienced trader and gives their take on the market while taking calls and questions live from around the world. From the moment the market opens until the closing bell sounds, Tiger TV has eight different shows with expert hosts to help you make the right moves with your money. Watch online at TFNN.com or on TFNN's YouTube channel and become the investor you were born to be, TFNN, educating investors. 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 we take a look at those SMHs. I've got the A to B equal CD pattern. I just drawn that in on the weekly timeframe chart so you can see those that are underway. As far as the next price projection level, $152.97 would be the target out there. But we already talked about how this is likely going to go target. It's all-time high back at that November swing point up at the $159.41-ish level. So it looks like that's where the SMHs are headed to, short of a bearish reversal candle. Let's go to our next request. This is coming in from a guppy who says, SMCI has had one heck of a move. Let's switch over to take a look at those charts on the white background screen. Give me a moment here. We'll switch over. We'll take a look at those. That looks like it's getting ready to stall out here. So you'll see momentarily why Stevie said that. So here, SMCI. And SMCI is, you could type in the right symbol, you could find out, Stevie. All right, what do we got? That is the super microcomputer. Yeah. So this thing has really taken off the upside. So, McGuppy, today is going to complete a TD9 count top. So what should happen, not a guarantee, what should happen is price should now pull back to its oscillator and change line. We can see that's printing out currently at 176.73 with the top of the profile 171.67. So that's what it should do. Now, whatever today's high is, the current high today, don't know if that will be the day's high, but the current high is 227.71. Let's say that is today's high. If price goes above that on Tuesday of next week, well, then you have a very strong upward momentum move that is in place out here and it's headed higher. Now, headed higher to where? Great question. There's no resistance out here. It's up above weekly profiles, monthly profiles. I'm going to check on my other system. It's probably up above quarterly profiles. Let me just check. Yeah, it's up above everything out there. So where's this thing headed to? Great question. No idea. Really, no idea at all. It's a new all-time high. So just be careful of the TD9 count top out there. Now, one reason to be careful. Remember, when we get a topping signal on a larger time frame, we should see the smaller time frames, not all of them, sometimes all of them, but not all of them, generate topping signals. That's kind of our Q. That's how the multiple time frames work together and how we piece them together. So we take a look at a 30-minute time frame out here. That's one of our inter-day time periods that we look. We can see we've got a TD9 count and what might be arrangement of indicator top out here. Now, it's only two minutes into the current bar. I think we are. Yeah. And so this is a 30-minute chart. So this chart won't complete until 12 noon. So watch the 2018-81 ish area. Price gets below that. You couldn't get a pullback all the way back to where it broke out from, and that's at $204.47. So SMCI looks moi bueno, but you do have that TD9 count top, and you'll have to wait until Monday to see if, in fact, that really does take effect out there. So I'm going to be best of luck to you there. The next request from Ron wants to take a look at Boyle. So to look at Boyle, let's do this. Let's pull up the natural gas chart and Boyle and UNG, and we can do all of that at one time if I hit the right button. Can Stevie hit the right button? We're going to find out. I think I hit the right button out here. And so Ron's question was, hi, Steve Boyle, I'm along. Would like to hear your thoughts on the long side of this name out here. So Boyle is basically traded off of the UNG. And the UNG right now is exclusively contains the July contract. And what we have up here, the July natural gas contract that is. What we have up here at the top is the weekly time frame. What we have at the bottom on the left is the daily time frame. So actually, I'm going to show this to you on the black background chart. So we'll come back here. We'll flip it back and forth. But so I don't lose my thought, which is very easy for me to do. Going to come here. I think the market update will do this. Yeah, perfect. Okay. So now Ron, the first thing to notice here, when we take a look at natural gas is we have a new profile that formed. Let me turn off price because you'll see it without me turning off price. You won't really see it. The new profile, it turns out the bottom is above the prior bottom. The high just by the hair of its chinny chin chin is above the prior high. So this is telling us about a change in trend, a likely change in trend. Look, we had a, we didn't, we had a similar signal back here back in the March timeframe. And I don't know if I turned price back on there. You know, it really never closed above the top of that profile. When it closed below the bottom of it, obviously led to lower price. So what the charts, what the profile is communicating to us is that we do have a change in trend signal. That change in trend signal will get voided if we see it closed below $2.361. That doesn't mean that to exit your position and boil necessarily, we're going to flip back to the other charts to tell you why. But I want to make sure that you can clearly see what's taken place with regard to the profile. And again, exactly which level you're going to be watching or what levels you're going to be watching to the downside. Now let's go flip over to those white background charts. And the white background charts are going to show us that if in fact price did go on the July contract closes below that 2.361, then the next area is for $2.31 cents. Your real level of support out here is the TD9 account bottom. So with regard to boil, the true support for boil exists with natural gas at the price point of 2.233 out here. What would you want to hold on to boil during that time period? Perhaps not. But the numbers are so close to each other, it's slightly difficult to trade out here. But at this stage, you had a TD9 account bottom, TD9 account top, price is pulling back, just opposed to test support. The TD9 account bottom took out resistance. So it's signaling to an eye that it's intent. It really wants to move to the upside. That's what it would like to do. The weekly timeframe has that TD9 account bottom pattern as well. Now here what we don't like is price below that red oscillator and change line. Don't know where we'll end the day, but if it does close below that, well that threatens to move down to test that low at 2.233. But we've got these other areas of support out here. So it's a tough one. It's a tough one. Your question specifically was, hear your thoughts on the long side of this name. The long side still looks good and it will remain looking good, quite frankly, until those bottoms get taken out. So that's what we see when we take a look at the UNG boil and natural gas. So Ron, thanks so much for writing in and hope that helps you out. Now I don't see any other questions either in the den or let me check by email. I take that back. We've got one here from Greg. Greg, thanks for saving me. Greg M writes, and he wants to take a look at AI. It's like everybody wants to take a look at AI out there. You know what Stevie likes to look at? Our eye, real intelligence, who wants to look at artificial intelligence. What's all the hype out there? Artificial intelligence is programmed by real intelligence, isn't it? In any event out here, let's go take a look at AI though. That's just a Stevie soap box thing. But let's get off of that. Let me close out these natural gas charts out here. Let's go take a look at AI and help Greg figure out what it's doing or where it's headed to or whether it's got a top or a bottom or nothing. So we pull up these charts here for AI. What we see is that today is going to become bar number eight. What we know about bar number eight is that 90% of the time when you have a successful bar number eight, and we do at this stage here, it'll go on to form a TD-9 count. This case here will become a TD-9 count top. This says that AI should form a top between today and Wednesday of next week. We'll finish looking at artificial intelligence, but we'll do it with real intelligence, so we get back from the spring. You might think that if you want to be successful at trading in the stock market, you're going to need a crystal ball. After all, it's impossible to predict the future, right? Like any endeavor in life, before you decide it's impossible, get some advice from the experts. You might find that it's not so impossible after all. For daily market overviews that give you direction on the key indices, selective stocks and commodities, subscribe to the opening call newsletter at tfnn.com. 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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. It was up 310 S&P 46 NASDAQ 192.99. Russell's up 10. We're taking a look at A.I. out here. This is for Greg M. What we can see out here is that you've got bar number eight that's going to form. This should form a TD9 count top between today and Wednesday of next week. More likely than not, price is going to go on and at least tag the swing point out here that created or generated that rogement-dominicator top. We also have a wave number seven top out there. The bottom of that swing point is $32.23. The volume on that swing point is only 49 million shares. Now, I say only 49. Today, in two hours of trading, we've done 22 million shares. So price is moving into that swing point with volume, which is the reason, Greg, that it looks to me like it's going to go ahead and at least tag that level. Yes, it is wave number D of the Chapman Wave, which you pointed out, but that hasn't been confirmed just yet, meaning this can extend itself. And it looks to me like it may extend itself out there. We're above resistance on the weekly. There's nothing really to assist us on the monthly out here. So it does look like this heads higher form some kind of a top between, again, I'd say it's more likely between Tuesday and Wednesday of next week, but it could form a top here today with bar number eight. On an interday time period, AI also has a TD9 count eight bar. So this should go on to complete a TD9 count top by $12.30. So between now and $12.30, we should see AI begin to pull back. Where would it pull back to? Should it do that? Well, at this stage here, you'd have to say the top of its profile. That's at the 29.64 area. So AI should form a TD9 count top. It should do that. It's either done it now or we do it between now and $12.30 this afternoon. So that's something else for you to keep an eye on out there, Greg, with regard to AI. So I hope that helps you out. Thanks much for taking the time to write in out there. And the next request coming in from McGuppy wants to take a look at the GDX. So let's throw those charts up here. And let me read the question. It says, could you look at gold and the GDX? Would you consider April to mid-May as a consolidation and yesterday completing the measured move? April to May. So I think we're dealing with this. So what McGuppy is asking about here, we'll just draw it in. April to May. So let me see, where's April? May. So I guess what I would do, this is probably what you have drawn in here. So let's draw it in, or at least what Stevie would draw in here. So let's just do it. What would Stevie identify as the likely consolidation? It's probably something like that. And now we could just move that. You're asking, does this qualify as a completed measured move? Remember when you break through a consolidation, you typically do a pattern that is equal to or greater than McGuppy. Greater than. But your question was, does this complete the measured move? It completes at least the minimum portion of the measured move out there. So yes, good spotting. What we can see here as well, is there is an A to B equal CD to the downside. Now, this is more than a one to one. We're beyond the one to 1.272. So A to B would look like this. And C to D, the one to one would look like that. You can see we're well beyond that. So we've got the A to B equal CD pattern. What you're really waiting for here, McGuppy, and I know you're looking to get into some type of a long position out here, you'd really prefer to get a bullish reversal candle. If you get that, then you have A completed by the D point. Because we don't have A completed by the D point, and because price is trading below its breakout level, which was 30.74, it really opens up the door for a move to 28.34. So that's the daily time frame for the GDX. What do we see on the weekly time frame? We don't see anything good there. Price is below the bottom of its bullish structure profile. This would be a second consecutive week. This actually says the GDX could get a 22.58. I'm not saying that's what it's going to do. I'm saying that's what the charts are saying. However, the monthly chart says, you know, Stevie, I'll buy into that idea. That is if I close below my oscillator and change line. That level right now is at 30.36. We're trading at 30.32. Really what the GDX would need to do to really suggest those lower prices that we couldn't see out there, MacCuppy, is close below 29.56. 29.56 is the top of its daily profile. Get back inside there. Well, then anything can happen. So on the daily time frame, you are exactly right. It did complete its measured move, but that's not your buy signal. You're waiting for a bullish reversal candle to confirm a buy the D point pattern out there. So I do hope that that helps you out. And thanks so much for the request. Jambalaya writes in and says, Mr. Rhodes, that would be my father. What do the charts say for XLF and go cracking? Well, look, I, does that just say show crack, show Cron? So what the XLF did yesterday was a test and rejected a swing point on lighter volume. So here's the swing point out here, Jambalaya. You probably noticed that. But if not, let me just share that with you. Here's the swing or did it close inside there? No, it rejected it. So here's the swing point. We're talking about May 4th volume. There are 76 million shares high, 3185. Yesterday, what was the close? The close was at 3196. And it tested it and it did it on 41 million shares. That was 41 testing 76. What is that telling you, Jambalaya? Tom has told us this many times. So it's ingrained into our minds. There aren't enough sellers to push this thing any lower. But the buyers right now, okay, they've taken their stab at it. And not until they close above that red oscillator and change line do they want to then take on the sellers that reside at 3265 used to be buyers there. Those buyers have turned into sellers. If we take a look at the weekly timeframe, you just have a consolidation between 3106 and 3308. You've got support at 3150 on the monthly timeframe that area has held. So it's really going to be all about the daily timeframe. We've tested you reject that swing point. Now you've run into resistance. If you don't clear that resistance level, maybe you get back in and test that swing point again. If you do clear that resistance level and again that resistance area 3204, you likely head up to 3265. So I hope that helps you out. Jambalaya, thanks so much for taking the time to write in. Much appreciated. Yeah, Mr. Rhodes, that would be my father. Steve Oh, and I was thinking as you know, I probably should get a Steve Oh at TFN.com too. So often I want to say that when I'm saying, you know, you can send me an email at Steve at TFN.com. My mind's saying one thing. I'm catching it though saying the other thing. But then even this from Danny wants to take a SVRA. So let's pull that up on our screen out here and take a look at it. SVRA. SVRA. And that is a Savara Inc. and it's trading right now about $2.65. So it did form that TD9 count top out there, Dan. And right now we just have price trading with inside his profile. What we do know is that as you can see that's bullish structured profile area. So you're strong supported between 240 and 248, but 248 has already been tested and is held. So now I'd say the consolidation is running between 248 and 272. If you did close, but not you, but obviously the stock, if SVRA, Savara Inc. closes above the price point of 274, well, then you're off to the races. Now off to the races, may simply just get us back to our prior highs. The prior highs occurred during the month of February 17, 2023. There's 1.6 million shares that traded hands that week. This week we are at 1.9. You're pushing into that swing point with volume. Dan O. Thomas taught us that if you close inside a swing point with volume, odds favorite, you're going to go test that high. So where is SVRA headed to? It's headed to that high. And that high out there was from February and that's at the 285 level. It's going to get to 285. It'll take out 274. Well, if it closes above 274, that is. So that's really the area to be watching with regard to Savara Inc. Dan O. I hope that helps you out. Steve Rhodes with TFNN. We'll be right back. 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After all, he's got 45 years experience as a day trader. Larry will also provide daily charts, videos, and data on the key markets that he's tracking. Expect notifications from Larry on market movement you need to act on at any time. First-time subscribers also get a 30-day money-back guarantee. If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up. Subscribe to the Fibonacci 24-7 newsletter today. TFNN.com Educating Investors. 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 Day. Available to all tigers and tigers for just $1 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. Welcome back folks. So MacGuffin also asks us to take a look at the gold out there. What I've put up on my charts here are some levels for you guys to be paying attention to, especially next week, even today. And these are the Apigee pivot points out there that we're showing you. So Apigee, that is where the moon is furthest from Earth during the current lunar cycle that occurred last night. Eight something in the evening, I don't remember the exact time, but the price points are noted on my screens out here. So these are levels to be watching, which are $4152.75 for the ESMini, $13957.75 for the NQ. And gold we can see price have been testing that Apigee pivot point of $1940.10. If price were to close below that, that suggests lower price. Now we can see a 30-minute bullish amber candle out here that took place at 8.30 last night. And that level is $1936. You want to watch that. There's a TD9 cow bottom that formed out here. This pattern is going to complete as we go off the air at 12 noon. So you'll want to watch that low of $1938.50 as well. Price should at least bounce on a 30-minute basis. Price should at least bounce up to where? So about $1946.80, $1947.90 is the area that I'd watch. And $71.91 for Lights We Crewed is the Apigee pivot points. If price closes below that, that suggests the least short-term lower price out there. Here, when we take a look at the Goldilocks charts, you'll see the TD9 count pattern on the 30-minute forming at the TD9 count breakout level. So price should go target that oscillator and change line. Here's what I really want to show you is that we do have closes now. What might be two consecutive closes really below the bottom of its consolidation. We just took a measured move out there inside the GDX. This is another reason to be cautious about the GDX. We might get a measured move inside of Gold down to the 1847 level. To close out the show before Stevie takes off, we're going to take a look at Amazon AMZN as a ticker symbol out there. We're going to try to find it. Where did Stevie put it? This is for SNP. Amazon, no top in place on the daily. It is negating its TD9 count on the weekly. It'll do that if we get it closed today above $1,860. And if we get that SNP, where's price headed to? $133.54 is the number. So folks, thanks so much for joining us. Stay tuned for great programming. I'm going to do the best I can to do as many shows while I am gone. Right now, we're targeting next Wednesday and Thursday. So have a fantastic weekend. Enjoy the holiday. Be safe out there. And we'll look forward to speaking with you again soon. Take care now.